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Nayax Reports Third Quarter 2021 Financial Results : Revenue Grew 40 % to $ 31M HERZLIYA , Israel , November 18 , 2021 -- Nayax Ltd. ( TASE : NYAX ) , a global commerce enablement and payments platform designed to help merchants scale their business , today announced its financial results for the third quarter of 2021 . " Recent major achievements in key markets helped further solidify our position as a global leading payment platform . Our product portfolio provides end - to - end solutions , which continues to be a powerful growth engine and an instrumental factor in establishing a high net retention rate of more than 140 % . Valuing each customer as a long - term partner creates significant room for growth , " commented Yair Nechmad , Nayax's Chief Executive Officer and Chairman of the Board . " Our continued focus on covering a diverse range of verticals and geographies led to a 40 % year - over year increase in revenue , to $ 31 million this quarter . As global trends continue to provide a strong tailwind supporting the growth of the unattended market , recurring revenue from SaaS and processing grew an impressive 65 % year over year , reaching $ 19.6 million . Despite component pricing increases due to global supply - chain challenges , we have made a strategic decision to keep Nayax's product prices intact . We believe that our commitment to our customers ' growth , supported by our strong balance sheet , will expedite our long - term expansion plans even if our devices ' gross margin is impacted in the short term , " Nechmad concluded . Third Quarter Financial Highlights Total revenue was $ 31 million , an increase of 40 % over Q3 2020 . Managed and connected devices grew 38 % year over year for the quarter to more than 461,000 . Quarterly transaction value grew 84 % from the same quarter last year to $ 407 million . Recurring revenue from monthly SaaS and processing fees grew more than 65 % over Q3 2020 , reflecting a total revenue share of 64 % in the current quarter . Gross margin was 40 % , reflecting continued strong margins from recurring revenue offset by lower margins on POS devices as a result of global component shortages . Gross profit reached $ 12.3 million , an increase of 18 % over Q3 2020 . Operational expenses , including research and development , share - based compensation expenses , depreciation and amortization , and excluding IPO - related expenses , amounted to $ 18.6 million , an increase of 81 % over Q3 2020. This is the result of our growth strategy to increase sales , marketing , R & D staff and enhance overall global infrastructure . Operating loss was $ 6.4 million , compared to an operating gain of $ 0.2 million in Q3 2020 .