Fintech company Nayax (TASE: NYAX; Nasdaq: NYAX) is to lay off about 70 employees, 55 of them in Israel. The company employs some 1,200 people around the world, so it is laying off about 6% of its workforce, and 9% of its Israeli workforce.
In response to the report, Nayax stated, “The move stems from the need to streamline the company’s structure following its expansion in recent years, including acquisitions it has carried out, which created overlaps in certain positions, and as part of continuing responsible management of expenses and maintenance of an efficient operating structure.”
Nayax, headed by its co-founder Yair Nechmad, provides cashless payment solutions. The company is traded in Tel Aviv and New York at about its peak levels.
The company has a market cap of $1.86 billion, four years after its IPO in Tel Aviv at a valuation of $1 billion. According to Yahoo! Finance, Nayax is currently covered by five analysts, of whom three maintain positive ratings for the company and two are neutral.
The analysts’ average price target is $46, but the recent rise in the stock – up 53.5% since the low it reached in April because of the tariff wars – has led to a situation in which the share price has overtaken the average price target, which currently represents an 8.8% discount.
In the first quarter of this year, Nayax’s revenue grew by 26.7% to $81.1 million, and the company switched from a loss to a net profit of $7.2 million. Its guidance for the year is for growth of 30-32% to revenue of $410-425 million, with most of the growth being organic, and adjusted EBITDA of $65-70 million. Nayax has set a target of annual growth of 35% by 2028, partly through acquisitions, and EBITDA margins of 30%.
Published by Globes, Israel business news – en.globes.co.il – on July 7, 2025.
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