Hamburg, October 11, 2021 – NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for trading, cryptocurrencies and payments NAGA.com, has announced its unaudited preliminary group figures for the 3rd quarter of 2021.
NAGA delivers record growth for the twelfth 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 sales 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 results, 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.
About NAGA
NAGA is an innovative fintech company that has developed a socially enhanced financial system that creates a unified and seamless experience across personal finance and investing. Its proprietary platform offers a range of products ranging from trading, investing, and cryptocurrencies to a physical Mastercard and social investing features such as a Feed, a Messenger and Auto-Copy. NAGA is a synergistic all-in-one solution that’s accessible and inclusive, and that provides a better way to trade, invest, connect, earn, acquire and pay, across both fiat and crypto.
Press contact
Andreas Luecke
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The NAGA Group AG
www.naga.com
