* Group revenue of EUR 62.4 million (FY 2024: EUR 63.2 million); up 3.5% to EUR 65.4 million, FX-adjusted
* EBITDA of EUR 3.3 million (FY 2024: EUR 9.0 million); EUR 4.7 million, FX-adjusted
* Further marketing investment: spend increased 15.6%, yielding 37.5% more new funded clients at 15.9% lower cost per acquisition
* OPEX cost reduction achieved through optimization and full integration of former CAPEX Group
* FY 2026 outlook: Revenue of EUR 68 – 75 million, EBITDA of EUR 10 – 15 million
Hamburg, 12 February 2026 – The NAGA Group AG (XETRA: N4G, ISIN: DE000A41YCM0), the multi-asset fintech group behind the NAGA SuperApp called “Naga One”, today announces preliminary financial results for financial year 2025. Despite a structurally challenging market environment, the Group expanded its client base, advanced its operational transformation, and maintained positive EBITDA – while positioning itself for accelerated profitability in 2026.
Market Environment FY 2025
Financial year 2025 presented a structurally challenging environment for the online trading industry. Market volatility, a key driver of trading activity and revenue generation, remained at historically low levels throughout much of the year. Major asset classes, particularly precious metals, exhibited prolonged one-directional price movements, reducing the frequency and diversity of client trading activity across the industry.
NAGA, whose revenue is more closely tied to trading frequency, market volatility, and balanced client positioning, faced structural headwinds. One-sided market movements compressed spreads and reduced copy-trading activity, as fewer opportunities arose for the diversified trading strategies that typically drive platform engagement.
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