{"id":757215,"date":"2023-05-10T08:15:11","date_gmt":"2023-05-10T12:15:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/nayax-reports-first-quarter-of-2023-financial-results\/"},"modified":"2023-05-10T08:15:11","modified_gmt":"2023-05-10T12:15:11","slug":"nayax-reports-first-quarter-of-2023-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nayax-reports-first-quarter-of-2023-financial-results\/","title":{"rendered":"Nayax Reports First Quarter of 2023 Financial Results\u00a0"},"content":{"rendered":"
\n

\n Revenue Grew <\/strong>
\n 54<\/strong>
\n % Year-Over-Year to $52.4 Million
<\/strong>
\n Recurring Revenue Grew <\/strong>
\n 44<\/strong>
\n % Year-Over-Year
<\/strong>
\n Reaffirms FY 2023 Revenue Outlook, Raises Earnings Outlook<\/strong>\n <\/p>\n

HERZLIYA,\u00a0Israel, May 10, 2023 (GLOBE NEWSWIRE) — Nayax Ltd. (Nasdaq & TASE: NYAX), <\/strong>a global commerce enablement and payments platform designed to enable retailers to provide consumers with digital, cashless, connected commerce experiences, and enhance consumer loyalty and conversion, today announced its financial results for the first quarter of 2023.<\/p>\n

\u201cWe exceeded our first quarter expectations on both the top and bottom line and continued to realize the efficiencies from our infrastructure investments and cost discipline, while executing our key strategic priorities. We reported strong revenue growth of 54% year-over-year that again exceeded our 35% annual growth target and saw marked improvement in our net income and Adjusted EBITDA. With these strong results, we are raising our Adjusted EBITDA guidance to reach profitability in 2023 instead of breakeven\u201d said Yair Nechmad, Chief Executive Officer and Chairman of the Board. \u201cIn Q1, we demonstrated the high level of customer satisfaction for our products and solutions as measured by our net retention rate, which increased to 141%.\u201d<\/p>\n

Mr. Nechmad continued, \u201cNayax\u2019s business fundamentals remain strong. Our continued business momentum is the result of our value proposition, adoption of cashless payments globally and the focused execution of our strategies. Our underlying business momentum positions us well to capture the growth opportunities ahead and achieve our goal toward profitability.\u201d<\/p>\n

\n First Quarter Financial Highlights<\/strong>\n <\/p>\n

(All comparisons are relative to the three-month period ended March 31, 2022, unless otherwise stated):<\/p>\n