Nayax Ltd. · TASE:NYAX
Nayax — Q4 2025 Earnings Presentation
42 slides from Nayax's earnings presentation, Mar 9, 2026
Slide 1: Fourth Quarter and Full Year 2025 Results
Fourth Quarter and Full Year 2025 Results March 9, 2026 1
Slide 2: Important Disclosure
Important Disclosure Forward-looking statements, risk factors, and non-GAAP financial measures referenced in this presentation • This presentation is intended to provide general information only and is not, and should not be considered, as an offer • In addition, the presentation includes data publi
Slide 3: Today's Presenters
Today’s Presenters Yair Nechmad Sagit Manor Aaron Greenberg CEO & Co-Founder CFO CSO 3
Slide 4: Global Platform - Multiple Verticals
Global Platform - Multiple Verticals Nayax provides payments, software, and consumer engagement solutions across a wide range of automated retail verticals Vending Fueling Self-Service Kiosks Car Wash & Air Vac Restaurants Massage Chair Parking EV Charging Micro Markets Laundromats Amusement Food &
Slide 5: Global Presence
Global Presence Company Overview: Full Year 2025 Revenue Recurring revenue USA Canada UK Germany Israel Australia China Japan South Brazil New Netherlands Lithuania 2024: $314.0M ▲28% 2024: $222.3M ▲29% Africa Zealand $400.4M $287.2M Gross Margin Adj. EBITDA (1) 2024: 45.1% ▲3.1% 2024: $35.5M ▲72% 4
Slide 6: 2025 Key Highlights
2025 Key Highlights (1) • Revenue increased 28% to $400.4 million, driven by both new and existing customers’ expansion Strong growth • Organic revenue (2) growth for the year was 24% • Recurring revenue grew 29% to $287.2 million and represented 72% of total revenue • Number of customers increased
Slide 7: Massive Cashless Opportunity
Massive Cashless Opportunity TAM of 45M+ Unattended Machines and Growing Cashless payment volume in unattended retail estimated to significantly increase globally from Growth Driven by Multiple Self-Service Verticals Key Market Drivers 2025 to 2029 2021-2025E 2025E-2029E Cashless Transaction Value b
Slide 8: Where Complexity Becomes a Competitive Advantage
Where Complexity Becomes a Competitive Advantage Barriers To Entry Comprehensive, modular end- Integrations with unattended Proprietary Integrated POS Multi-jurisdictional payments to-end solutions machines in multiple verticals devices acceptance network Addressing SME and Enterprise Large installe
Slide 9: Payment as a Center of Gravity
Payment as a Center of Gravity Global Cashless Payments Acceptance Embedded Financing & Multiple Integrated POS Management Platform Loyalty & Marketing Solutions Banking Unattended POS POS & Registers Automated Self Service Energy & Mobility Hospitality & Retail Fuel Multiple unattended retail Compl
Slide 10: Core Strategic Areas of Focus
Core Strategic Areas of Focus 10
Slide 11: Foundation of Nayax: Automated Self-Service
Foundation of Nayax: Automated Self-Service Vending EV Charging Retail Fuel Parking Hospitality Laundromat Amusement Device Focused → Embedded Platform → Omni - Commerce 11
Slide 12: Full Value-Chain Market Access
One cable, Zero hassle. Full Value-Chain Market Access VPOS Series Products • Screen-based engagement • Supports loyalty & advertising • Regulatory compliant • Vertical agnostic, versatile and agile Factory-level OEM embedded Uno mini • Reduced retrofit dependency • Lower customer acquisition cost •
Slide 13: EV Charging
EV Charging Strategic Expansion, Scalable Economics PLATFORM EVOLUTION • Global Expansion • Strategic partnerships with leading operators • Lynkwell acquisition • Integrated payments + AI-enabled EV software • Flexible model: payments, software, hardware • EV Kiosk enabling app-free session capabili
Slide 14: Strategic M&As
Strategic M&As 14
Slide 15: Mergers & Acquisitions
Mergers & Acquisitions In February, acquired UPPay, a Brazilian provider of telemetry and operational management solutions for automated self-service machines, primarily in the coffee segment. The acquisition integrated operationally with VMtecnologia, consolidating expertise across Brazil's lucrati
Slide 16: What's Next?
What’s Next? 16
Slide 17: Embedded Finance with Yellow Account
Embedded Finance with Yellow Account(1) • The Yellow Account represents Nayax’s strategic expansion into embedded finance, providing small-to-medium businesses with unprecedented access to financial tools. • Delivered via a user-friendly mobile application, merchants will be able to • Receive payout
Slide 18: Nayax eCommerce SDK
Nayax eCommerce SDK One Platform for both physical and online payments Payouts Card present Billing Centralized payment control Reports Card-not- Compliance present Support 18
Slide 19: One Dashboard for All EV Charging Payments
Break the Silos: One Dashboard for All EV Charging Payments *Indicative illustration - final dashboard will be tailored to customer needs 19
Slide 20: Financial Performance & Outlook
Financial Performance & Outlook 20
Slide 21: Company Overview: Q4 2025
Company Overview: Q4 2025 Revenue Recurring revenue . Q4 24: $89.0M ▲34% Q4 24: $62.9M ▲23% $119.5M $77.3M Celebrating 20 years Gross Margin Adj. EBITDA (1) Q4 24: 46.1% ▲0.4% Q4 24: $12.8M ▲61% 46.5% $20.6M Total transaction Customers value Q4 24: 95K ▲21% Q4 24: $1.31B ▲34% $1.75B 115K Managed & c
Slide 22: Q4 2025 Key Highlights
Q4 2025 Key Highlights(1) • Revenue increased 34% to $119.5 million, driven by strong hardware sales Strong growth • Organic revenue (2) growth for the quarter was 30% • Recurring revenue grew 23% to $77.3 million and represented 65% of total revenue • Number of customers increased 21% to nearly 115
Slide 23: Key Performance Indicators of Growth
Key Performance Indicators of Growth We 3x and 4x our growth in key metrics Transaction Value Number of Customers Managed & Connected Devices ($B) (K) (K) 4 .6x 3.8x 2.8x 6.4 115 1,463 95 1,260 4.9 1,044 72 3.6 1,146 725 47 977 2.4 517 774 1.4 30 589 399 270 283 317 118 136 2021 2022 2023 2024 2025
Slide 24: Rapid and Sustainable Revenue Growth
Rapid and Sustainable Revenue Growth Annual Revenue ($M) Quarterly Revenue ($M) CAGR(1) +35.4% ▲ 400.4 QoQ +34.3% ▲ 314.0 113.2 235.5 91.7 119.5 173.5 84.4 104.3 89.0 95.6 119.1 81.1 27.2 42.2 68.7 287.2 24.9 26.1 18.9 222.3 48.0 151.1 77.1 77.3 104.8 62.9 62.2 70.7 71.2 2021 2022 2023 2024 2025 Q4-
Slide 25: Strong Recurring Revenue & ARPU
Strong Recurring Revenue & ARPU Growing recurring revenue and increasing ARPU underscore scalable, high-quality earnings Annual Recurring Revenue ($M) Annual ARPU(1) per Connected Devices(2) ($) CAGR +41.8% ▲ YoY +11.0% ▲ 287.2 300 .0 238.9 222.3 250 .0 215.3 174.1 191.5 200 .0 174.8 174.4 151.1 133
Slide 26: Processing Revenue Growth & Take Rate
Processing Revenue Growth & Take Rate(1) Primarily driven by higher number of transactions across our installed-base Annual Processing Revenue ($M) Quarterly Processing Revenue ($M) CAGR +47.8% ▲ 174.1 QoQ +23.7% ▲ 190 .0 3.0 0% 170 .0 2.9 0% 133.8 150 .0 2.8 0% 130 .0 2.7 0% 92.2 2.73%(2) 2.70% 110
Slide 27: Continued Gross Profit & Margin Expansion
Continued Gross Profit & Margin Expansion Gross margin improved driven by strong operational efficiencies Annual Gross Profit ($M) Quarterly Gross Profit ($M) CAGR +41.5% ▲ QoQ +35.4% ▲ 48.2% 45.1% 193.0 200 .0 40.4% 45. 0% 37.5% 34.6% 40. 0% 40.0 141.5 35. 0% 46.1% 49.2% 48.3% 49.3% 46.4% 150 .0 60
Slide 28: Disciplined Cost Management Reflected in Adjusted OPEX Margin
Disciplined Cost Management Reflected in Adjusted OPEX Margin Adjusted OPEX as a % of revenue declining, reflecting increasing operating leverage 160 .0 Annual Adjusted OPEX(1) ($M) 50% Quarterly Adjusted OPEX(1) ($M) 140 .0 133.6 45% 44% 120 .0 42% 107.4 40% 100 .0 80.7 80. 0 73.2 35% 37.6% 34% 34%
Slide 29: Improving Profitability from Operating Leverage
Improving Profitability from Operating Leverage Operating profit year-over-year improvement driven by scale and margin gains Annual Operating Profit(1) ($M) Quarterly Operating Profit(1) ($M) 50. 0 YoY(2) +1,112.9% ▲ 40% QoQ +241.7% ▲ 40. 0 37.6 30% 9% 30. 0 20% 14. 0 10% 10% 10% 12% 8% 12. 0 10% 20
Slide 30: Efficiently Scaling the Business & Driving Margin Expansion
Efficiently Scaling the Business & Driving Margin Expansion Adjusted EBITDA reflecting profitable expansion and disciplined investment Annual Adj EBITDA(1) ($M) Quarterly Adj EBITDA(1) ($M) YoY(2) +72.1% ▲ QoQ +60.2% ▲ 15% 70. 0 20% 60. 0 50. 0 11% 61.1 15% 40. 0 35.5 10% 17% 17% 14% 25. 0 20% 30. 0
Slide 31: 2026 Outlook
2026 Outlook (1) Continued growth & profitability expansion Metric FY 2026 Guidance Assumptions Revenue $510m - $520m • Revenue guidance is inclusive of organic revenue growth of 22% to 25% and the expected contribution from the Lynkwell acquisition. Organic Revenue(2) 22%-25% • Expected further imp
Slide 32: Mid-term Outlook
Mid-term Outlook (1) Revenue $1bn 2028 framework, includes $1 billion in revenue, driven by a combination of organic growth and strategic M&A, 50% gross margin, and 30% adjusted EBITDA margin. The increasing share of recurring revenue, the continued growth in ARPU, Gross Margin 50% and the disciplin
Slide 33: Appendix
Appendix 33
Slide 34: Complete end-to-end solutions secure solid recurring revenue
Complete end-to-end solutions secure solid recurring revenue Device Revenue Recurring Revenue 1. Hardware 2. SaaS 3. Processing Fee VPOS Touch Onyx VPOS Media Nova Market • SaaS management system for enhanced • Global, localized cashless payment business optimization acceptance for maximized convers
Slide 35: Advance Strategy for Sustained Long-Term Profitable Growth
Advance Strategy for Sustained Long-Term Profitable Growth Expanding through Win New Large Innovate & Develop Expand Enter Emerging, High- Retain And Grow M&A to new Enterprise and SMB New Solutions Internationally Growth Verticals With Existing Customers markets with new Customers Globally channels
Slide 36: Our Differentiated Go-To-Market Strategy
Our Differentiated Go-To-Market Strategy Resellers Global Offices 1,116 Enterprise > 3k* 13 Online eShops Distributors SMB 26-3,000* 15 80+ Financial Global OEM Partners Nano Partners 1-25* 50 3,400+ *POS devices As of 31st of December 2025 36
Slide 37: IFRS to Non-IFRS Reconciliation
IFRS to Non-IFRS Reconciliation Year ended (U.S. dollars in thousands) Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Net income/(loss) for the period 35,516 (5,631) (15,887) Finance expense, net 2,994 7,489 2,288 Income tax expense (benefit) (950) 1,247 1,215 Depreciation and amortization 25,487 21,370 12
Slide 38: IFRS to Non-IFRS Reconciliation
IFRS to Non-IFRS Reconciliation Year ended (U.S. dollars in thousands) Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Operating Cash 40,288 42,902 8,798 Capitalized development costs (22,766) (21,893) (15,948) Acquisition of property and equipment (5,329) (3,081) (611) Free Cash Flow 12,193 17,928 (7,761)
Slide 39: IFRS to Non-IFRS Reconciliation
IFRS to Non-IFRS Reconciliation Quarter ended (U.S. dollars in thousands) Dec 31, 2025 Dec 31, 2024 Net income/(loss) for the period 13,171 1,646 Finance expense, net 1,694 1,171 Income tax expense (benefit) (2,561) 734 Depreciation and amortization 6,922 5,875 EBITDA 19,226 9,426 Share-based payme
Slide 40: IFRS to Non-IFRS Reconciliation
IFRS to Non-IFRS Reconciliation Quarter ended (U.S. dollars in thousands) Dec 31, 2025 Dec 31, 2024 Operating Cash 15,591 17,008 Capitalized development costs (5,741) (6,435) Acquisition of property and equipment (1,352) (1,296) Free Cash Flow 8,498 9,277 Quarter ended (U.S. dollars in thousands)
Slide 41: Key Definitions
Key Definitions Managed & Connected Existing Customer Expansion ARPU End Customers A financial metric that measures the Customers that contributed to Nayax Devices Revenue generated within a given revenue in the last 12 months. Devices that are operated by our cohort over the years presented. Each a
Slide 42: Thank You!
Today’s Speakers Thank You! IR Contact Full Name Website Full Name Aaron Greenberg Position Position ir.nayax.com Chief Strategy Officer ir@nayax.com 42