NAGAs Q1 topline grows by 63% YoY, reporting record revenue of EUR 18 million and EBITDA of EUR 5 million

Hamburg, 22 April 2022 - NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7),  operator of the neo brokerage NAGA, the Cryptocurrency platform NAGAX and neo banking app NAGA Pay, released a trading update for the first quarter 2022. 

NAGA reports that its brokerage business posted a preliminary Q1 2022 record revenue  of around EUR 18 million (Q1 2021: EUR 11.7 million) with a preliminary EBITDA of EUR  5 million (Q1 2021: EUR 3 million), representing a year over year growth of 63% and  66% respectively. 

“We are happy to see a dynamic start into 2022 and NAGA continuing steady towards  its targets. The unfortunate escalation in Ukraine has indeed affected client appetite  during Q1 but started to recover by the end of March. Taking this opportunity, we would  like to extend our warmest sympathies to the affected people of Ukraine and note that  no people in this world should ever have to go through this horror”, says CEO Benjamin  Bilski. 

NAGA aims to start reporting on its three business verticals 

Starting with the current second quarter, NAGA plans to report its three business  verticals separately and to report in a correspondingly highly transparent manner:  Brokerage, Crypto and Payments delivered via its core products NAGA Trader, NAGAX  and NAGA Pay. 

“All our platforms are by now live and have a clear monetization model in place. Now it's  all about scaling marketing activities and operations in each vertical. It will be exciting to  showcase the growth of our ventures, especially NAGAX. We feel confident that NAGAX  will show a beautiful growth curve over the next few months as it has a unique offering  combining competitive and regulated spot crypto exchange coupled with our soon to be  crypto derivatives trading platform and staking tool. We are known to disrupt at NAGA,  and once again we utilize our expertise in technology and finance over the years to allow the Group to reach a broader customer base and therefore, increase platform revenues  significantly”, Bilski continues. 

Geographic expansion and global licensing 

In addition, the company is focused on expanding its regulatory map across all verticals.  The Estonian Crypto license for NAGAX was granted in the last week of March, and two  more crypto asset service provider licenses are in flight and expected to be granted in  Q2 2022. The Group is also actively looking into strategic acquisitions in Europe and  Southeast Asia which underlines ambitious expansion plans.  

“There is no doubt that the future lies with fully licensed and compliant companies in our  very dynamic and fact paced world. This is expected to be an important growth enabler  in all three verticals we operate in. Hence, we see licensing and expanding our regulatory  map as a core priority. We have built an amazing ecosystem which is now able to  integrate brokerages, crypto products, and payment platforms. Combined with a strong  licensing map we believe that this will fundamentally accelerate our growth on top of our  organic initiatives'', Bilski concludes.