Nayax reported revenues of $60 million in the third quarter of 2023

Nayax concludes the third quarter of 2023 with an increase in revenue and a reduction in operating loss, when the company announced last week the purchase of a company for $36 million. Nayax's stock fell 7% in Tel Aviv and is down 1.7% on Wall Street.

Nayax, under the management of CEO and Chairman Yair Nichmad, developed a platform for clearing services and business operations and is best known for the endpoints it developed for payments at drink machines, snacks, parking lots, and more. The company is traded at a value of approximately NIS 2.46 billion. A year ago it began to be traded simultaneously on Nasdaq and is currently traded at a value of 680 million dollars.

Nayax reported revenues of $60 million in the third quarter of 2023 - an increase of about 28% compared to the corresponding quarter in 2022. Revenues from monthly usage fees and clearing fees in the third quarter of 2023 increased by about 50% compared to the corresponding quarter in 2022. The gross profit in the quarter increased by 46% to 23 million dollars. The company states that there was an improvement in the gross profit rate following an improvement in profitability from hardware sales, with hardware sales remaining essentially unchanged in the quarter and amounting to approximately $20 million.

Nayax reduced the operating loss and the net loss following the increase in revenues. The operating loss amounted to 1.5 million dollars compared to 9 million dollars in the corresponding quarter and the net loss decreased from 10 million dollars in the corresponding quarter to 3 million dollars. The company moved to an adjusted profit (Adjusted EBITDA) of 3.5 million dollars in the third quarter of 2023, compared to an adjusted loss of 3.7 million Nayax reported a cash flow from current operations of $5 million in the quarter, compared to a negative flow of $6 million in the corresponding quarter.