NAGA Achieves EUR 45.5 Million in Revenue and Highest-Ever EBITDA

<p>The NAGA GROUP, a leading provider of the All-in-One
Financial Super App, NAGA, has reported stellar preliminary unaudited financial
results for the fiscal year 2023, showcasing a remarkable turnaround in
challenging market conditions.</p><p>NAGA Surpasses Milestones with 132,000 New Accounts and 9.2
Million Trades</p><p>NAGA delivered a robust performance, generating over EUR
45.5 million in revenue, despite a slight decrease from the previous fiscal
year's EUR 57 million. The standout achievement was the company's highest-ever
EBITDA of EUR 7 million, a significant improvement from the negative EUR 13.7
million in the preceding year.</p><p>The company demonstrated an impressive growth trajectory in
user engagement and activity levels throughout 2023. With over 132,000 new
account openings and more than 9.2 million trades executed, NAGA surpassed its
2022 levels. Notably, copy trades reached 4.8 million, up from 3.5 million, and
the volume traded soared to EUR 143 billion, an increase from EUR 137 billion
in the previous year.</p><p>Active users at the end of 2023 surpassed 21,000, reflecting
a steady upward trend from 18,700 in 2022. This growth in unique user metrics
is attributed to higher average activity, deposit size, and lifetime value,
highlighting the effectiveness of <a href="https://www.financemagnates.com/tag/naga/">NAGA</a>'s strategic
initiatives.</p><p>NAGA CEO, Michael Milonas commented: “We are delighted that
our disciplined approach and continuous efforts to make NAGA profitable yielded
such strong results. We have seen an improved quality of customers, a well as
improved platform stability and strong user metrics which make us confident for
the following months. Especially in the light of our recently announced Merger,
NAGA will play a crucial role to deliver strong results in the upcoming year
paired with Capex.com fast growing user and revenue base creating a new,
exciting equity story for the Group.”</p>

This article was written by Tareq Sikder at www.financemagnates.com.