Nayax sees FY24 revenue $325M-$335M, consensus $324.99M

The company said, “For the full year 2024, management reiterates full year revenue, adjusted EBITDA and cash flow guidance, while increasing guidance on hardware gross margins. Full year 2024 revenue expectations continue to be in the range of $325 million to $335 million, on a constant currency basis, representing year-over-year growth of at least 38%. Nayax management increases its guidance on hardware gross margins and now expects it to be in the range of 27% to 29%, an increase from the former range of 25% to 27%. The increase was due to various improvements implemented in recent quarters including taking advantage of economies of scale, enhanced pricing strategies and continued cost optimization initiatives as well as a positive impact from the recent acquisitions. We expect a slight increase in operating expenses due to the addition of the recent acquisitions. Adjusted EBITDA for 2024 is expected to be in the range of $30 million to $35 million, as Nayax continues to scale its business and benefit from its high operating leverage. Management expects that for the full year 2024, free cash flow, defined as operating cash flow minus capital expenditure, will be positive in aggregate. On a long-term basis, management targets an approximate 35% annual growth on revenue, driven by a combination of organic growth and strategic M&A. The target model for adjusted EBITDA margin is 30%, and for gross margin is 50%.”