Nayax vs Sangoma Technologies
Nayax is the larger business, with $400m of revenue in fiscal 2025 against $200m for Sangoma Technologies (2.0 times as much). Nayax grew faster (27.5% against -15.5%). Nayax kept more of each dollar of sales as profit: a net margin of 8.9% against -40.5%. Sangoma Technologies carries less debt relative to equity (15.6% against 135.9%).
| Latest fiscal year | NayaxNYAX, 2025 | Sangoma TechnologiesSANG, 2026 |
|---|---|---|
| Revenue | $400m | $200m |
| Revenue growth | 27.5% | -15.5% |
| Net income | $35.5m | −$81.1m |
| Operating margin | 9.4% | — |
| Net margin | 8.9% | -40.5% |
| Return on equity | 17.9% | -37.8% |
| Free cash flow | $35.0m | $21.9m |
| Cash | $320m | $10.4m |
| Total debt | $314m | $27.3m |
| Debt to equity | 135.9% | 15.6% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $1.0m |
| Employees | — | — |
| Market value | $1.84bn | $152m |
| Price vs our value range | Above our value range | Below our value range |
| Moat score | — | — |
| Insider trades, 12 months | 19 buys, 57 sales | 0 buys, 0 sales |