Nayax Ltd.

Hello, everyone, and welcome to NIACS' first quarter 2026 earnings conference call. All participants at present are 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 Nechmad, NIACS co-founder and chief executive officer, and Sigeet Manohar, 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 will 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 in 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, Sigeet will go through the details of financial results and discuss the outlook. And with that, I would like to turn over the call to NIACS' CEO, Yair Nekhmad. Yair?

Thank you, Aaron, and thank you, everyone, for joining us today to discuss our results for the first quarter and the progress we are making across the business. We had an excellent start to 2026 with strong operational and financial results across the business. Revenue grew 32% to $107 million, with organic revenue growth of 26%. Adjusted EBITDA margin expanded to 13%, The quarter results reflect the continued confidence and execution of our strategy, and we are reaffirming our financial guidance for the year. This quarter, our install base surpassed 1.5 million devices, an important milestone that drives our recurring revenue model. Our customer base reached 120,000, which is truly exciting and reflecting continuing opportunities in the market. The more customers we onboard, the more devices they buy, the more transactions flow through our platform, and the more our recurring revenue compounds. It is clear that our growth algorithm is working. To this end, let me highlight a couple of KPIs. First, total transaction value grew 33%, with average transaction value continue to expand as we shift further into higher-value verticals such as EV charging, amusement, and car wash. Second, our output is growing, reflecting both the trend in cash-to-cashless conversion with our existing customer base and our deeper presence in this high-value segment. Hardware sales were strong this quarter, with growth of 46%, driven by strong demand for our product across all markets. In the unattended space, the rollers of our pin-on-glass VPOS media devices draw significant hardware demand in Europe and is unlocking higher ATV verticals, where local regulation requires pin verification for transactions. In the EV charging vertical, we made our first joint appearance as the Combined Max and LinkWheel brand at the EVCS conference, which is the largest conference in the EV space and received strong customer receptions. Our pipeline of mid-sized network moving on to Linkwell's white-label platform continue to grow. With respect to geographic extension, in Brazil, we continue to invest and are making significant strides in the region. Following the successful integration of VM technology and AppPay, we have fully rebranded its operation to the NICE brand, which is now operating as NICE Brazil. In addition, we have started onboarding newer customers as payment facilitator in the country, and we will soon be bringing the Vipos Media to the Brazilian market, which will allow us to address the market with a unified pin-on-glass product.