Nayax Ltd.

Hello, everyone, and welcome to the NIACCS' second quarter 2025 earnings conference call. All participants are present in listen-only mode. Following management's formal presentation, instructions will be given for the question and answer session. As a reminder, this conference is being recorded. I would now like to turn the call over to 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 Nikmad, NIAC's co-founder and chief executive officer, and Sageet Manoor, 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.niacs.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 statements except as required by law. You can read about these risks and uncertainties in our supplementary investor presentation released earlier today and our regulatory filings. In addition, today's call will include a discussion of non-IFRS measures. Management believes non-IFRS results are useful in order to enhance our understanding of our ongoing performance. However, these measures should be considered as a supplement to and not as a substitute for IFRS financial measures. A reconciliation between NIACS's non-IFRS to IFRS measures can be found in our earnings press release issued earlier today. All key performance indicators are intended to evaluate our business and properly measure factors in a macroeconomic environment to guide and support our decision-making. These key performance indicators may be calculated in a matter different from the industry standards. And finally, please note that all figures in today's call will be reported in U.S. dollars unless stated otherwise. Yair will start the call with key financial and operational highlights. Following that, Suggit will go through the details of financial results and discuss the outlook. And with that, I would like to turn the call over to NAICS's CEO, Yair Nekhmat. Yair?

Thank you, Aaron, and thank you, everyone, for joining the call this morning to discuss our results for the second quarter and the progress we are making across the business. Our second quarter results reflect the successful execution of our strategic initiatives and the positive momentum of the business. We delivered yet another quarter of strong operational and financial performance driven by profitable revenue growth. robust global demand for our solution and services, and an ever-expanding geographic footprint for our install base. Our time is large and growing, driven by the ongoing shift from cash to digital payments and our expansion into new verticals. We're continuing to gain market share across our core verticals, with strong global demand and a clear product market fit we are not only acquiring new customers at a scale, but doing so at a pace that exceeds broader market growth. As the global leader in the automated self-service payment space, we have a trusted brand and reputation that enable us to both deepen relationship with existing customers and consistently onboard thousands of new customers each quarter. Importantly, our growth continues to be achieved with a very low customer chain rate of under 3% annually, reflecting the stickiness of our platform and the mission-critical role we play for our customers. Customers are not only sticking with us, but deepening their engagement with our platform as they add more devices, process more transactions, and expand into new vertical overtime. Our role goes far beyond enabling transactions. We are a true partner to our customers, helping them grow their business with a platform shaped by two decades of listening, learning, and building for their specialized needs. Whether it is launching a new location, expanding into new vertical, or introducing value-added services, our technology and team are there every step of the way. We deliver a complete solution that combines modular payment, hardware, and management software, built to reflect the diversity of our customers' ambitions, and designed to scale without compromise. That's what makes Knives not just a solution provider, but a longer-term growth partner. Turning to our results, revenue for the quarter increased 22% over Q2 24, reaching $96 million. Recruiting revenue grew at even faster pace, rising 32% over Q2 2024, lifting its share of total revenue to 74% from 68% in the same quarter last year. Our consistently growing share of high margin recurring revenue reflecting the long-term success of our strategy to build a more profitable and predictable business. In terms of profitability, adjusted EBITDA was nearly $13 million for the quarter, representing approximately 13% of total revenue. This underscores our disciplined focus on delivering profitable growth while expanding our top line. We see revenue acceleration in the second half of the year. We expect increased shipment and adoption of our recently launched product, including our embedded reader called the Uno Mini, as we ramp production to meet growing demand across multiple regions. Furthermore, we see strong growth in emerging segments such as EV chargers, smart coolers, and family entertainment centers. Longer enterprise sales, particularly from customers with longer procurement cycles, are expected to contribute meaningful to this acceleration in the second half of the year. With that, we are reaffirming our full year 2025 guidance. I'd like to now share some customer success story and key development from the quarter that highlights our continued expansion in the automated self-service space. Earlier this week, we announced a major milestone, both for our embedded payment solution and for our presence in the fast-growing EV charging vertical. When we signed a strategic partnership with Hotel Energy, as one of the largest electrical vehicle charging equipment manufacturers in the world, Hotel Energy is expected to purchase 100,000 Uno Minis to be embedded inside their manufacturer AC slow chargers. to the end of 2026. We are seeing strong momentum for the Unumini product, which are devices integrated inside OEM products. In Q2, we announced a strategic partnership with LinkWheel, a leader in EV charging solution in the United States, to deliver a comprehensive suite of integrated payment and management capabilities to North American EV charging markets. With the current tariff environment in the US, we believe that LinkWheel's Buy America EV Charger, embedded with our Unum Mini payment reader, will see strong demand over the coming quarters. We expect to announce more partnership with manufacturers as our Unum Minis continue to gain traction for high-volume deployment. We also advance our M&A strategy in the quarter. We acquire InnoProPay, our long-standing distributor in the Benelux region, further strengthening our position in Europe, and bringing us closer to our customers through the establishment of full-service NICE office in the Netherlands. In addition, we acquire a remaining 51% of NICE Capital, a joint venture we initially launched in 2023. NICE Capital is now fully consolidated under our recently created Embedded Banking Division. Embedded finance solutions such as bank account, card issuing, and financing will bring more value to our customers and increase recurring revenue for customers over time. We are also focused on integrating our recent acquisition to streamline operations, combine complementary capabilities, and realize synergies in key markets. In Brazil, we brought together APE and VM Technologies under the NICE Brazil brand defining a common market strategy and unifying our sales, service, and support operation nationwide. We integrated the uptake coffee solution originally built for Brazil into the border Nike sales platform and are seeing strong initial demand from customers in multiple international markets. In the fueling vertical, we combine Rosman and OTI PetroSmart into one global four core team to deliver a single end-to-end platform for fuel station operator. With each of these partnership, acquisition, and integration, we continue to bolster NIACS as a leading provider of cashless payment and management solution, driving innovation and growth across multiple industries and markets. Looking forward, we are excited about our near-term growth opportunities and our business fundamentally remain solid. Our team is large and growing, driven by the ongoing shift from cash to digital payment and our expansion into new verticals. When we continue to pursue strategic M&A, organic growth remains our primary building block and will continue to be the main driver of our growth. With our expanding pipeline, we are well positioned to continue to outpace the growth of the broader payment industry and deliver exceptional value to our customers. With that, I'll turn it over to our CFO, Sagit Manon, who will review our KPIs, our financial results in greater detail, and walk through our guidance. Sagit?