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The NAGA Group AG reports record revenue of close to USD 14 million in Q1 2021 with an EBITDA of USD 3.7 milion...

The NAGA Group AG reports record revenue of close to USD 14 million in Q1 2021 with an EBITDA of USD 3.7 milion and crosses 1 Million registered accounts.

HAMBURG, Germany -Monday 5 April 2021 [ AETOS Wire ]

 

- Record of 2.9 million transactions and USD 70 billion in traded volume - Copy trading increased by 475%

- A record of 93,000 accounts added in Q1

- NAGA filed an application to allow cross-trading in the US market

- Convertible bond with a nominal value of € 8 million fully placed

(BUSINESS WIRE)-- The NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for financial market trading NAGA.com, reports its preliminary unaudited results of the first quarter 2021.

Unaudited group sales jumped by 69% to USD 13.7 million (Q1 2020: USD 8.1 million), whilst the number of real-money transactions jumped by 141% to 2.9 million (Q1 2020: 1.2 million). Traded volume crossed USD 70 billion, an increase of 155% (Q1 2020: USD 27 billion). Signups jumped by 480% to 93,000 in Q1 2021 compared to 16,000 account signups in Q1 2020 which resulted in another important milestone for NAGA crossing 1 million registered accounts to date. Another highlight is the growth in transactions of NAGAs unique auto-copy tool. More than 1.4 million trades were copied trades on the NAGA platform, which is an increase of more than 475% compared to 0.27 million copied trades in Q1 2020.

"We are pleased with our Q1 results and especially with the growth metrics. We see three-digit growth across our core metrics. Since the restructuring in 2019 we have delivered growth for the 9th consecutive quarter with Q1 2021 being the strongest in our entire company history. It confirms that 2020 was just the beginning of our growth story. Our social trading business is growing very strongly, and we are clearly expanding our competitive advantage underlining our FinTech and user-experience focused character. Compared to classical brokerage funnels our NAGA-Autocopy drives 150% more in user activity and dramatically improved our conversion rates, reduced acquisition cost metrics and improved churn metrics", comments NAGA CEO Benjamin Bilski.

According to various research outlets, the amount of people joining the stock markets is gaining momentum and will continue to grow strongly. Given NAGAs median client age of 34 and 80% of the transactions taking place on a mobile device, it is a clear confirmation that users appreciate mobile, easy-to-use and community-driven investing platforms that allow them to manage their money independently and invest across all asset classes including digital assets such as Bitcoin. For further diversification, the company plans to open a new local office in Vietnam and actively prepares the entry into the Australian market.

"We are on track to hit our annual targets. We will continue to scale marketing and further optimize our acquisition funnels. Comparing growth and further potential to our competition, but also private FinTech companies, we are very confident about our future upside. Given the shift of user demands and the positive feedback we are receiving about our unique platform, we will announce major exciting product updates in the upcoming quarters to strengthen our position as social neo-broker and investing platform", adds Bilski.

NAGA is also pleased to announce that it has filed an application with OTC Markets Group for the Company's shares to be cross traded publicly on the OTCQX Venture Market which would make NAGA shares more widely available to North American investors. Trading on the US OTCQX market would have no impact on existing NAGA's ordinary shares and no new ordinary shares will be issued as part of the cross-trade. NAGA will continue to rely on the announcements and disclosures it makes to Scale and will have no SEC reporting requirements. Should the application be successful, the cross-trading facility will be provided through OTC Markets Group Inc., located in New York, USA. OTC Markets operates the world's largest electronic interdealer quotation system for US broker dealers and offers multiple media channels to increase the visibility of OTC-traded companies.

"We would like to make NAGA Group AG available to US markets in order to gain access to a broader investor base and enhance our visibility in North America. Cross trading on OTC Markets represents an important development for the company", adds Bilski.

Furthermore, NAGA reports that the convertible bonds with a nominal value of EUR 8 million, as announced in the ad hoc announcement of March 8, 2021, have been placed in full.

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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 Mastercard. 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.

Language:

English

Company:

The NAGA Group AG

 

Hohe Bleichen 12

 

20354 Hamburg

 

Germany

Email:

info@naga.com

Internet

www.naga.com

ISIN:

DE000A161NR7

WKN:

A161NR

Indices:

Scale 30

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich,

 

Stuttgart, Tradegate Exchange

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20210401005406/en/

 

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