EQS-News: The NAGA Group AG: NAGA group starts profitable into 2023

NAGA group starts profitable into 2023

Hamburg, February 09, 2023 - NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), operator of the neo-broker NAGA, the cryptocurrency platform NAGAX and the neo-banking app NAGA Pay, is pleased to publish a year to date trading update.

Year to date NAGA generated group revenues of close to EUR 6 million whilst expenses were kept at around EUR 4.5 million.

Following a restructuring in the summer 2022, NAGA decreased its cost base compared to the start of 2022 in 2023 by more than 65 % whilst keeping new customer growth 15 % above 2022 levels.

Active users on a 3 months view are at all time high as well as the monthly trading activity. Copy trading represents 55 % of overall trades whilst 2023 customer deposits compared to the same period in 2022 are up by 50 % and average deposits per new client up by 75 % respectively

The group continues to improve its marketing efficiency by developing further automation and business intelligence technology as well as preparing the expansion into the Southeast-Asian and Latin American region with its newly established regulated entity NAGA Capital.

"We are pleased to see that our restructuring efforts are materializing“, says Benjamin Bilski, CEO and founder of NAGA Group AG, assessing the successes achieved at the beginning of the year. „We kept new user growth up whilst cutting overall operating expenses significantly. Our acquisition cost per user has improved by over 75 % and the value per user went up by another 13 % year over year. We keep improving the current operation and preparing ourselves for more global business from the emerging markets, which we see as a significant profit driver in 2023.“

NAGA Trading Update Webinar takes place today at 2 p.m

The current performance and further KPis are being presented by Bilski in the monthly NAGA trading updates. A trading update will take place today at 2 p.m., for which interested parties can register free of charge at https://group.naga.com/trading-updates. Afterwards, NAGA will also make a recording of the webinar available here.

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About NAGA
NAGA is an innovative fintech company that seamlessly connects personal finance transactions and investments through its social trading platform. The company's proprietary platform offers a range of products from stock trading, investments and cryptocurrencies to a physical VISA card. Additionally, the platform allows for exchanges with other traders, provides relevant information in the feed, and autocopy features for successful members' trades. NAGA is a synergistic total solution that is easily accessible and inclusive. It provides an improved foundation to trade, invest, network, earn and pay. This applies to both fiat and crypto products.

Press contact
Andreas Luecke,
The NAGA Group AG
[email protected]