The NAGA Group AG

  • WKN: A161NR
  • ISIN: DE000A161NR7
  • Land: Deutschland

Nachricht vom 19.05.2022 | 13:38

The NAGA Group AG sees strongest monthly profitability in April with more efficient user acquisition through increased brand awareness. Already more brokerage sales than in the first half of 2021.

DGAP-News: The NAGA Group AG / Key word(s): Monthly Figures
The NAGA Group AG sees strongest monthly profitability in April with more efficient user acquisition through increased brand awareness. Already more brokerage sales than in the first half of 2021.
19.05.2022 / 13:38
The issuer is solely responsible for the content of this announcement.

NAGA sees strongest monthly profitability in April to date with more efficient user acquisition funnels through increased brand awareness. Already more brokerage sales than in the first half of 2021.

- NAGA generates revenue of EUR 7 million and EBITDA of EUR 3.6 million in April 2022 alone (preliminary)

- In April 2022, the EBITDA ratio increased to around 50% for the first time

- NAGAX NFT platform and its own blockchain NXNFT are live

Hamburg, 19th May 2022 - NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), operator of the neo brokerage NAGA, the Cryptocurrency platform NAGAX and neobanking app NAGA Pay, releases a preliminary trading update for April and reports its strongest monthly profitability to date.

In April, preliminary brokerage revenue amounted to EUR 7 million, while preliminary EBITDA stood at EUR 3.6 million. To date, more than 2.7 million transactions have been generated while the active customer base and sign-ups continue to grow strongly. "Already in the first four months of the current year 2022 we managed to exceed the revenue of the first half of 2021", Benjamin Bilski, founder and CEO of NAGA, evaluates the excellent first third. “At the start of the second quarter, we saw a solid comeback in trading activity. Our focus remains on increasing our growth activities to counteract any negative market trends. We are in line with our projections. Our confidence in the company is stronger than ever in these challenging times,” Bilski continues.

NAGA sees a significant improvement in customer satisfaction, team structure and product innovation. The branding initiatives work well. With the increasing level of awareness and brand power, NAGA is on the road to significantly strengthen its position in all three verticals it operates in. “This year we are experiencing very challenging market conditions and profitability in particular is an important factor that investors are looking for in 2022. At NAGA this is absolutely the case - we have generated positive cash flow as we have continued to successfully grow our business,” concludes Bilski.

NAGAX continues its product rollout.

NAGAs native cryptocurrency platform NAGAX has launched its NFT marketplace NAGAX NFT which features an on blockchain called NXNFT and allows creators to mint items at no cost as well as secondary trading without blockchain fees. The platform can be visited here:

https://nagax.com/nft

Despite the current cooldown in the crypto market, NAGA is very confident that the next wave of adoption is around the corner. NFT plays a crucial role in educating people to join the crypto ecosystem. NAGA’s NFT platform, which is integrated in its crypto currency exchange and wallet, targets talented creators from the art and music industry to join us and tokenize their work to be minted on NXNFT. Additionally, NAGA looks forward to the release of the staking and derivatives feature in May to start marketing and growing the user base from June onwards.

NAGAX NFT has additionally announced a $100,000 creator fund which aims to support digital creators in launching their first NFT collections. More information can be found here: https://nagax.com/nft-creators



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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
press@naga.com
www.naga.com



19.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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