NYAX

MKT CAP:$2B

Nayax Ltd.

Market Cap

$2B

Technology·Information Technology Services·🇮🇱 Israel·NASDAQ

Technology·IT Services·🇮🇱·NASDAQ

Stock Price

$64.27+$12.32 (+23.72%)

Apr 22, 2026

Company Details

Nayax Ltd., a fintech company, operates system and payment platform worldwide. The company offers VPOS TOUCH that provides contactless and contact payment options; VPOS FUSION, a cashless payment card reader; ONYX, a contactless card reader...

CEO

Yair Nechmad

IPO Date

Sep 21, 2022

Website

www.nayax.com

Key Metrics TTM

Revenue

$404M

+34.3% YoY

Net Income

$36M

EPS (Diluted)

$0.96

Free Cash Flow

$32M

Revenue / Share

$10.70

Gross Margin

46.3%

Operating Margin

9.7%

Net Margin

8.9%

FCF Margin

7.8%

P/S

6.0x

P/E

67.7x

Earnings Reports

Q1 2026

May 12, 2026

PENDING

FY 2025

Mar 9, 2026

$433MEPS $1.02

Q4 2025

Mar 9, 2026

$122M+37.0%EPS $0.36

Q3 2025

Nov 19, 2025

$106MEPS $0.09

Q2 2025

Aug 13, 2025

$96M+22.4%EPS $0.31

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$34M	$12M	-$10M
Q1 22	$34M	$13M	-$9M
Q2 22	$41M	$14M	-$9M
Q3 22	$47M	$16M	-$9M
Q4 22	$51M	$17M	-$7M
Q1 23	$52M	$18M	-$5M
Q2 23	$56M	$21M	-$4M
Q3 23	$60M	$23M	-$1M
Q4 23	$70M	$26M	-$1M
Q1 24	$64M	$28M	-$3M
Q2 24	$78M	$35M	$909.0K
Q4 24	$89M	$41M	$4M
Q1 25	$81M	$40M	$8M
Q2 25	$96M	$46M	$10M
Q3 25	$106M	$48M	$9M
Q4 25	$122M	$53M	$13M

Valuation

Quarter	P/S	P/E
Q4 21	7.2x	—
Q1 22	6.5x	—
Q2 22	6.1x	—
Q3 22	4.8x	—
Q4 22	4.5x	—
Q1 23	3.0x	—
Q2 23	3.1x	—
Q3 23	3.3x	—
Q4 23	2.7x	—
Q1 24	3.8x	—
Q2 24	2.8x	—
Q4 24	3.4x	—
Q1 25	3.9x	1453.2x
Q2 25	5.4x	105.8x
Q3 25	4.7x	72.8x
Q4 25	4.6x	52.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	-$13M	-$16M
Q1 22	-$3M	-$6M
Q2 22	-$15M	-$19M
Q3 22	-$6M	-$10M
Q4 22	-$3M	-$8M
Q1 23	$885.0K	-$3M
Q2 23	-$2M	-$6M
Q3 23	$5M	$661.0K
Q4 23	$5M	-$2M
Q1 24	$140.0K	-$4M
Q2 24	$9M	$3M
Q4 24	$17M	$9M
Q1 25	$1M	-$6M
Q2 25	$13M	$6M
Q3 25	$18M	$15M
Q4 25	$18M	$16M

Capital Expenditures

Quarter	CapEx
Q4 21	$3M
Q1 22	$3M
Q2 22	$4M
Q3 22	$4M
Q4 22	$5M
Q1 23	$4M
Q2 23	$5M
Q3 23	$4M
Q4 23	$6M
Q1 24	$5M
Q2 24	$6M
Q4 24	$8M
Q1 25	$7M
Q2 25	$7M
Q3 25	$2M
Q4 25	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+39.9%	+77.1%
Q1 22	+49.9%	+72.5%
Q2 22	+32.9%	+41.8%
Q3 22	+52.8%	+51.1%
Q4 22	+47.9%	+31.9%
Q1 23	+53.6%	+33.9%
Q2 23	+36.3%	+20.2%
Q3 23	+27.7%	+9.5%
Q4 23	+37.7%	+22.5%
Q1 24	+22.0%	+15.9%
Q2 24	+39.0%	+28.9%
Q4 24	+47.5%	+38.2%
Q1 25	+15.7%	+2.5%
Q2 25	+49.4%	+28.9%
Q3 25	+35.5%	+25.8%
Q4 25	+37.0%	+27.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$3M	10.2%
Q1 22	$3M	9.1%
Q2 22	$2M	5.0%
Q3 22	$2M	3.9%
Q4 22	$2M	3.4%
Q1 23	$2M	3.0%
Q2 23	$1M	2.5%
Q3 23	$1M	2.1%
Q4 23	$2M	2.5%
Q1 24	$1M	2.3%
Q2 24	$2M	1.9%
Q4 24	$1M	1.4%
Q1 25	$2M	2.2%
Q2 25	$3M	2.6%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 21	$6M	$5M	$2M	—
Q1 22	$6M	$15M	—	—
Q2 22	$5M	$15M	—	—
Q3 22	$6M	$17M	—	—
Q4 22	$5M	$15M	$3M	—
Q1 23	$5M	—	—	$16M
Q2 23	$7M	—	—	$18M
Q3 23	$7M	—	—	$17M
Q4 23	$7M	—	—	$21M
Q1 24	$6M	—	—	$21M
Q2 24	$9M	—	—	$24M
Q4 24	$6M	$24M	$3M	—
Q1 25	$7M	—	—	$28M
Q2 25	$8M	—	—	$31M
Q3 25	$9M	—	—	$30M
Q4 25	$6M	—	—	$33M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$65M	$7M	$71M
Q2 22	$42M	$6M	$48M
Q3 22	$32M	$54.0K	$32M
Q4 22	$34M	$83.0K	$34M
Q1 23	$33M	$77.0K	$33M
Q2 23	$31M	$1M	$32M
Q3 23	$40M	$1M	$41M
Q4 23	$38M	$1M	$40M
Q1 24	$69M	$24M	$93M
Q2 24	$62M	$24M	$86M
Q3 24	$65M	$24M	$89M
Q4 24	$83M	$9M	$92M
Q1 25	$177M	$44.0K	$177M
Q2 25	$172M	$638.0K	$173M
Q3 25	$258M	$5M	$263M
Q4 25	$412M	$1M	$413M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	33M	+0.3%	+0.6%
Q1 22	33M	0.0%	+0.6%
Q2 22	33M	+0.4%	+7.6%
Q3 22	33M	-0.0%	+0.7%
Q4 22	33M	0.0%	+0.4%
Q1 23	33M	+0.3%	+0.7%
Q2 23	33M	0.0%	+0.2%
Q3 23	33M	0.0%	+0.3%
Q4 23	33M	0.0%	+0.3%
Q1 24	34M	+2.4%	+2.4%
Q2 24	36M	+7.4%	+10.0%
Q4 24	37M	+1.1%	+11.2%
Q1 25	37M	+0.2%	+11.4%
Q2 25	38M	+3.0%	+12.1%
Q3 25	38M	+1.8%	+6.1%
Q4 25	38M	-1.7%	+3.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	$63.7K	800
Q1 23	$65.5K	800
Q2 23	$70.2K	800
Q3 23	$75.4K	800
Q4 23	$80.6K	870
Q1 24	$73.5K	870
Q2 24	$89.8K	870
Q4 24	$78.7K	1K
Q1 25	$71.8K	1K
Q2 25	$84.6K	1K
Q3 25	$93.6K	1K
Q4 25	$101.6K	1K

Revenue / Employee