Q2 2024 Nayax Ltd Earnings Call Transcript
Key Points
- Nayax Ltd (NYAX) returned to positive operating profit for the first time since 2018, marking a significant milestone.
- Revenue reached a record level of $78.1 million in Q2 2024, a 39% increase from Q2 2023.
- The company added over 9,000 new customers in Q2, reaching a total of 85,000 customers.
- Gross margin improved to 44.3% in Q2 2024, up from 37.1% in Q2 2023, reflecting operational efficiency.
- Nayax Ltd (NYAX) completed two strategic acquisitions, expanding its product offering and market reach.
- Finance expenses were negatively impacted by a $1 million write-off due to a change in the fair value of a minority interest.
- Revenue and adjusted EBITDA were negatively impacted by a $1 million purchase accounting adjustment related to an acquisition.
- The contribution from recent acquisitions, VM Tech and Roseman, was not significant in Q2 2024.
- Operating expenses are expected to increase due to the addition of recent acquisitions.
- The take rate increase to 2.7% may be influenced by customer and geography mix, which could fluctuate.
Hello, everyone, and welcome to Nayax second-quarter 2024 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded.
I would now like to turn the call over to your host, Mr. Aaron Greenberg. Please go ahead, Aaron.
Thank you, operator, and everyone, for joining us today on this conference call. With me on the call today are Yair Nechmad, Nayax Co-Founder and Chief Executive Officer; and Sagit Manor, Chief Financial Officer. Following management's prepared remarks, we will open the call for the question-and-answer session. Our press release and supplementary investor presentation are available on our Investor Relations website at ir.nayax.com.
As a reminder, during this call, we'll be making forward-looking statements. All forward-looking statements on our call today are based on assumptions and, therefore, subject to risks and uncertainties that may cause results to differ materially from those projected. We have no obligation to update these
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