The following is a summary of the Nayax Ltd (NYAX) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Nayax reported Q3 2024 revenue of $83 million, a 38% year-over-year increase, driven by both new and existing customer expansion.

• Recurring revenue grew 49%, highlighting the resilience of the business model.

• Achieved record net income and positive free cash flow for the first time in the company's history.

• Gross profit grew to $38 million, with a gross margin improvement to 45.7% from 38.1% a year ago.

• Adjusted EBITDA was a record $11.1 million, and net income turned positive to $0.7 million.

• For the full year 2024, revenue is forecasted between $315 million and $320 million, and adjusted EBITDA between $30 million and $35 million.

Business Progress:

• Expanded customer base to nearly 91,000 and grew the installed device base by 40% year-over-year to 1,230,000 devices.

• Formed a strategic global partnership with Adyen, enhancing payment facilitation services.

• Recent acquisitions like VMtecnologia, Roseman, and Retail Pro are being successfully integrated.

• Executed a strategic agreement with A2Z to provide a global automated payment solution for smart cards.

Opportunities:

• The integration with Adyen is expected to generate substantial savings while expanding Nayax's payment services to new countries including Brazil, Singapore, and Malaysia, and bolstering offerings in the EV charging space.

• Continued market expansion and full integration of recent acquisitions are anticipated to drive strong profitable growth in 2025.

Risks:

• Some new product certification delays are affecting hardware revenue growth, expected to be resolved by late 2024 or early 2025.

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