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Nayax Ltd. reported double digit revenue growth for Q1 2022 over the prior year period while extending its loss, according to an earnings release. Highlights include:
- Revenue rose 49.6% from $13.5 million in Q1 2021 to $22.5 million for the quarter ending March 31, 2022.
- Net loss for the period rose from $2.2 million to $9.8 million.
- Basic and diluted loss per share increased from .088 cents to 2.99 cents.
- Recurring SaaS payment and processing revenue rose 67.1% from $13.5 million to $22.5 million in the comparative quarters.
- The number of POS devices rose 24.7% from 22.8 million to 34.1 million.
- Total transaction value jumped 99% from $246 million to $489 million.
- The number of transactions rose 87% from 144 million to 269 million.
- The number of managed and connected devices rose 37.6% from 402,000 to 553,000.
«Q1 marked another quarter of strong revenue performance with revenue growth of 50% over the prior year quarter,» Yair Nechmad, CEO and board chairman, said in the press release. «Looking ahead, we are reaffirming our mid-term revenue growth target of 35% based on our strong results, higher recurring revenue and the visibility we see from the growing backlog of orders.»