NAGA posts 47% EBIDTA jump in H1 2026 to €4.4M, Net Profit €0.9M

NAGA Group AG (ETR:N4G0), the German fintech group behind the NAGA One SuperApp, reported its first net profit for the first half of a fiscal year in company history. The H1 2026 results follow the firm's profitable first quarter and reflect the ongoing strategic repositioning toward leaner operations and higher long-term customer value.

The company posted a net profit of €0.9 million for the period, a turnaround from a €2.6 million loss in H1 2025. Reported EBITDA rose 47% year-on-year to €4.4 million, compared with €3.0 million in the prior-year period. On an FX-adjusted basis, EBITDA increased 64% to €4.9 million. The reported EBITDA margin improved to 15.9% from 9.3% a year earlier, while the FX-adjusted margin reached 17.1%.

Revenue came in at €27.7 million on a reported basis, down from €32.3 million in H1 2025. FX-adjusted revenue totaled €28.6 million, a 12% decline year-on-year. NAGA said the drop reflects a deliberate focus on long-term customer value rather than acquisition volume, with the share of revenue from proprietary and more controllable channels rising to 53% from 36%.

Operating costs fell across key areas. Marketing and branding expenses declined 25% to €11.2 million, lowering the marketing ratio from 46.5% to 40.5%. Personnel, technology and operating costs dropped 20% to €8.8 million, supported by AI-assisted processes and a more efficient distribution model.

Customer Lifetime Value rose 32% to €2,757 per client, while customer acquisition costs were broadly stable at €1,117, up from €1,099 in H1 2025. The lifetime value-to-acquisition cost ratio improved to 2.5x from 2.2x.

Outlook

NAGA confirmed its full-year 2026 guidance, targeting Group revenue of €68-75 million and EBITDA of €10-15 million. CEO Octavian Patrascu said the first-half results demonstrate that the strategic repositioning is gaining traction, with the company now focused on scaling revenues further in the second half of the year.