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fxApr 23, 2026, 12:00 AM

NAGA Group Reports First Profitable Q1 with Improved EBITDA Margin

NAGA Group posted a net profit of EUR 0.5 million in Q1 2026, its first profitable first quarter, as EBITDA more than doubled to EUR 2.3 million and the margin improved to 15.8%. Revenue was EUR 14.4 million, and the full-year 2026 guidance has been confirmed.

NAGA Group AG, the multi-asset fintech behind the NAGA SuperApp “Naga One,” today reported its first ever profitable first quarter, with net profit reaching EUR 0.5 million in Q1 2026, compared to a loss of EUR -1.7 million in the prior-year period. The Hamburg-based company said the improved bottom line was driven by a leaner cost structure, operational efficiency gains, and stable client activity.

Group revenue for the quarter came in at EUR 14.4 million, down from EUR 16.4 million in Q1 2025. When adjusted for foreign exchange effects, revenue matched the prior-year level, indicating stable underlying business. EBITDA surged to EUR 2.3 million (Q1 2025: EUR 1.0 million), and the EBITDA margin more than doubled to 15.8% from 6.1%.

Financial and Operational Highlights

Operational key performance indicators showed a mixed but overall positive picture. NAGA recorded 87,500 new registered users and 4,903 new funded accounts in Q1 2026. Trading volume reached USD 80.7 billion, a clear increase over Q1 2025, reflecting higher trading activity and improved market conditions. Sequentially, net deposits rose while client withdrawals declined, signaling stronger platform engagement and better client quality.

The company noted that efficiency gains were supported by AI-driven tools in marketing, customer support, and internal processes, allowing faster execution without increasing costs. NAGA also signed a new distribution partnership and is progressing additional white-label collaborations, though these are not yet reflected in guidance.

CEO Octavian Patrascu said the quarter “marks an important step forward for NAGA,” citing the first profitable Q1 and significantly improved EBITDA margin as evidence of disciplined execution. He added that these developments provide a solid foundation for the rest of 2026.

Looking ahead, management confirmed full-year 2026 guidance: revenue in the range of EUR 68 million to EUR 75 million and EBITDA between EUR 10 million and EUR 15 million.

Source: NAGA