10/11/2021 | News release | Distributed by Public on 10/11/2021 02:52

NAGA reports record quarter with 157% growth!

NAGA reports record quarter with 157% growth YoY: Close to USD 21 million in group revenue and USD 5.2 million preliminary EBITDA in Q3 2021

  • 157% revenue growth compared to Q3 2020.
  • Record growth for eleventh quarter in a row.
  • Total revenue for 2021 already over USD 48 million.
  • Trading revenues from cryptocurrencies increased significantly.

Hamburg, October 11, 2021 - NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for trading, cryptocurrencies and payments, has announced its unaudited preliminary group figures for the 3rd quarter of 2021.

NAGA delivers record growth for the eleventh quarter in a row. In the third quarter of 2021, preliminary consolidated group revenue increased by 157% to around USD 21 million compared to USD 8 million in Q3 2020. Compared to the record quarter Q2 2021 (USD 15 million), NAGA was able to increase revenues by another 38%.

The strong growth is underlined by a preliminary unaudited record EBITDA of USD 5.2 million, a growth of 125% compared to Q3 2020 (USD 2.3 million). Trading in cryptocurrencies is growing particularly strongly. Around 15% of total sales in 2021 can be attributed to digital currencies, which represents a growth of over 600% compared to the same period in 2020.

"We are extremely pleased with our Q3 numbers, which are a result of our effective growth strategy. At the beginning of the second quarter we scaled our marketing efforts considerably. Our marketing spend per new client is recouped within only 4.5 months, becoming highly profitable thereafter. Consequently, we will further accelerate our marketing activities in the next quarters to maintain the current momentum going into 2022. We feel well equipped to continue our growth trajectory, especially with the successful capital increase priced in September. In addition, we will accelerate our geographic expansion." says Benjamin Bilski, founder and CEO, commenting on the trading update.

He adds: "We also see that our multi-asset class offering combined with social trading creates a balanced distribution of revenue streams across asset classes. We are seeing the biggest proportional increase out of our trading activities in cryptocurrencies, and we expect this trend to continue."

Following the investment by Christian Angermayer's Apeiron Investment Group with its Elevate3 strategy operating in partnership with Peter Thiel's Founders Fund and by Exness founder Igor Lychagov, the NAGA Board of Directors plans to expand the growth strategy and significantly accelerate marketing spent. In addition to direct marketing, branding and geographical expansion, especially strategic partnerships will come into focus to strengthen market position in the upcoming years.