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The NAGA Group AG, provider of the all-in-one financial SuperApp NAGA, has announced it will expand its capital market activities with regular interim quarterly announcements and monthly key performance indicator disclosures on its website, starting with Q1 2025 results.
According to unaudited figures, Group revenues increased by 7% to EUR 16.4 million (Q1 2024: EUR 15.3 million), driven by higher commission income, new client onboarding, and elevated trading activity amid heightened volatility in global capital markets.
Group EBITDA amounted to EUR 1 million (Q1 2024: EUR 2 million) despite a strategic increase in marketing spend of EUR 1.6 million compared to Q1 2024, resulting in a temporary decline in EBITDA margin to 6% (Q1 2024: 13%). The company described this planned investment as a deliberate step toward strengthening NAGA's growth trajectory and scaling potential.
The Group welcomed 73,902 new registered users in Q1 2025 (Q1 2024: 88,892), a decline attributed to a strategic shift from direct performance campaigns to broader brand-building initiatives. However, newly funded accounts increased to 6,088 as of 31 March 2025, up 6.5% from 5,717 in Q1 2024, reflecting an improved conversion rate from registrations to active clients.
Client Lifetime Value (CLV) rose by 14.2% to EUR 3,290 (Q1 2024: EUR 2,880), while Client Acquisition Cost (CAC) increased by 50.3% to EUR 1,204 (Q1 2024: EUR 801).

Octavian Patrascu, CEO of The NAGA Group, said: "With our quarterly reporting and our monthly updates, we are strengthening our capital market communication and offering the international investor community a high degree of transparency and clarity. As CEO, I have set out to truly create a new NAGA Group and show through action that we are leaving the past behind. Our aim is to go beyond the legal requirements and provide real insight into our strategy, mindset and business activities."
For the 2025 financial year, The NAGA Group expects to return to its 2023 revenue levels (pro forma), driven by solid organic growth, efficient marketing spend and operational focus. Management anticipates substantial improvement in EBITDA margin to reach the mid double-digit percentage range, supported by continued realisation of synergies across the Group.
NAGA operates in over 100 countries with nine local offices, offering trading, investing and neo banking services through its SuperApp platform.
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