THE-NAGA-GROUP-AG
5.10.2020 10:58:06 CEST | Business Wire | Press release
The NAGA GROUP (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for investing NAGA.com, posted another record quarter for 2020 with record sales of €7.1M (Q3 2019: €1.17M) and a strong EBITDA of €1.9M (Q3 2019: -€1.04M), based on preliminary figures. With close to 40,000 new accounts (Q3 2019: 7,100), the user base grew by 70% to the previous quarters, while the monthly trading volume in Q3 2020 jumped by 22 % well over 33 billion compared to Q2. (Q3 2019: €13 Billion) driven by a record no. of 1.6 million real-money transactions (Q3 2019: 947,000).
"We are happy with Q3. Especially in light of the seasonality and the lower client activity during summer, we once again have shown that our growth strategy pays off and is sustainable. Also, we have delivered a very solid EBITDA ratio despite increased expenses in growth. Given the growth in our active user base, we managed also to improve our platform experience and internal processes significantly to ensure further scalability. Looking at all our metrics it's clear by now that NAGA can grow even without the "COVID-effect", states Benjamin Bilski, CEO of NAGA.
The company also reports the launch of first-of-its-kind digital multi-webinars via the Streaming provider "Zoom". On 30th of September NAGA hosted the "Alpha-Event" which welcomed 1,500 students from 16 countries, mainly from the African and South-East-Asian region, who were connected simultaneously. The event was hosted by the world-renowned educator Andreas Thalassinos who joined NAGA recently. Given its success and the new in-house digital TV studio by NAGA, the "Alpha Trading Event" will be followed from now on by regular digital workshops and further events in the future to offer high-quality education for beginners in trading.
"Personally I am extremely proud of our new fully-digital educational concept. Given the times we are in, it is truly amazing to see over 1,000 people being all connected in real-time, interacting and learning about the financial markets together. These digital trainings are especially appreciated by our clients from South-East Asia and Africa. In fact, people all around the globe seek high-quality educational content which can be consumed from home and is presented in an interactive format. Together with our Director of Education Andreas Thalassinos we have set the benchmark for the next-generation financial market education. This will result in more global user growth to NAGA and empowers our vision to become not only a global community for investing, but also for an innovative provider of digital financial education", comments Benjamin Bilski. The video highlights of the "NAGA Alpha Webinar" can be found here: https://naga.com/alpha-trading-webinar
Additionally, NAGA announces the official release for its challenger Bank "NAGA PAY". On November 15th NAGA Pay will be available in the Google and Apple Appstore. The new payments startup by NAGA has received thousands of pre-registrations and will be a significant growth catalyst for NAGA's FinTech platform. The pre-registration is still available under naga.com/pay.
Given its strong growth in 2020, the launch of various initiatives and the prospects of opening the growth markets Australia and South-Africa while seeing very promising numbers from its China and South-East-Asian business, NAGA is well prepared for the current fourth quarter and eyes on 2021.
"The major rationale after Q1 was to enlarge our customer base, invest in our brand exposure and set up the company for scalability. We have a lot of promising initiatives in the pipeline such as the Australian and South-Africa market opening, we see a growing business in China and we have just welcomed over 50 new talents to our headquarters to support operational excellence throughout all departments. As mentioned in our Annual General Meeting last week: NAGA has its best cash-flow situation, highest average monthly volumes and the highest number of active users (as per September 2020) since inception. For the next quarters we need to invest into brand exposure, marketing and grow our team to offer a world-class trading experience by ensuring operational stability. We are happy to leave the past noise behind and take this company to its next stage, revenue wise but also valuation wise", concludes Bilski.
###
About NAGA
NAGA is an innovative fintech company that has developed a socially enhanced financial system that creates a unified and seamless experience across personal finance and investing. Its proprietary platform offers a range of products ranging from trading, investing, and cryptocurrencies to a physical Mastercard and social investing features such as a Feed, a Messenger and Auto-Copy. NAGA is a synergistic all-in-one solution that's accessible and inclusive, and that provides a better way to trade, invest, connect, earn, acquire and pay, across both fiat and crypto.
Language: |
English |
Company: |
The NAGA Group AG Hohe Bleichen 12 20354 Hamburg Germany |
E-mail: |
|
Internet: |
|
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/20201005005362/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Andersen Global styrker sine globale mobilitetskompetencer med samarbejdspartneren Graebel22.5.2026 00:05:00 CEST | Pressemeddelelse
Andersen Global fortsætter med at styrke sin multidimensionelle platform gennem en samarbejdsaftale med Graebel, en global leder inden for medarbejdermobilitet og managed services med hovedkvarter i USA og globale aktiviteter på tværs af Nord- og Sydamerika, Europa og Asien. Graebel blev stiftet i 1950 og samarbejder med mange af verdens mest anerkendte organisationer om en mere simpel tilgang til mobilitet og talentstyring. Virksomheden hjælper organisationer med at støtte medarbejdere gennem hele ansættelsen – fra praktikophold og onboarding til national og international mobilitet samt karriereskift – gennem tjenester, der spænder over strategisk planlægning, hjælp til afrejse og på destinationen, assistance under udstationering, hjemsendelse og design af mobilitetsprogrammer. Gennem strategisk rådgivning og intelligent teknologi gør Graebel det muligt for organisationer at træffe mere informerede beslutninger og afstemme talentmobilitet med en bredere forretnings- og arbejdsstyrkest
The Estée Lauder Companies & Puig End Discussions Regarding a Potential Business Combination21.5.2026 22:05:00 CEST | Press release
The Estée Lauder Companies Reiterates Confidence in Its Beauty Reimagined Strategic Vision On March 23, 2026, The Estée Lauder Companies Inc. (NYSE: EL) and Puig confirmed they were in discussions regarding a potential business combination, but unless and until an agreement was signed between the companies, there could be no assurances regarding the deal or its terms. The Estée Lauder Companies and Puig today announced that the parties have terminated discussions regarding a potential business combination. The Estée Lauder Companies remains fully focused on continuing to execute its Beauty Reimagined strategy, which is well underway and delivering positive results. “We are grateful for the conversations we have had with Puig,” said Stéphane de La Faverie, President and Chief Executive Officer of The Estée Lauder Companies. “Today, we are reiterating our confidence in the power of our incredible brands, our talented teams, and our strength as a standalone company. We are more optimistic
Imagine Dragons to Perform at Abu Dhabi Grand Prix21.5.2026 17:51:00 CEST | Press release
Ethara, organiser of the Formula 1 Etihad Airways Abu Dhabi Grand Prix, have announced that one of the world’s biggest bands, Imagine Dragons, will headline the Saturday After-Race Concerts at the F1 Season Finale in Abu Dhabi. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521214839/en/ Imagine Dragons to perform at Formula 1 Etihad Airways Abu Dhabi Grand Prix (Photo: AETOSWire) The announcement is another landmark moment for the Abu Dhabi Grand Prix, whose thrilling Yasalam presented by e& fan entertainment offering has become synonymous with the F1 Championship finale in Abu Dhabi and is recognised as one of the most compelling sports and entertainment crossovers globally. The global chart-toppers join Lewis Capaldi and Zara Larsson, who are set to kick off a blockbuster line-up of performances on Yas Island on Thursday, 3 December, with more major international artists to be revealed. With their popular top hits, Ima
Carnegie Mellon University and Cleveland Clinic Develop AI System to Interpret Cardiac MRI Scans with Enhanced Accuracy21.5.2026 14:05:00 CEST | Press release
Trained on more than 13,000 patient studies, novel system significantly outperforms existing models by up to 35% A team of researchers from Carnegie Mellon University, in collaboration with Cleveland Clinic’s Cardiovascular Innovation Research Center, has developed an artificial intelligence (AI) system capable of interpreting some of the most complex heart scans in medicine, cardiac magnetic resonance imaging (MRI), without the need for manually labeled training data. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521762286/en/ A team of researchers from Carnegie Mellon University, in collaboration with Cleveland Clinic’s Cardiovascular Innovation Research Center, has developed an artificial intelligence (AI) system capable of interpreting some of the most complex heart scans in medicine, cardiac magnetic resonance imaging (MRI), without the need for manually labeled training data. The novel system, called CMR-CLIP, is d
Otovo Hits 30,000 Customers in Under a Year, Tackling the Growing ‘Solar Service Crisis’21.5.2026 14:00:00 CEST | Press release
A growing wave of unsupported solar systems and rising electricity prices are creating strong demand for Otovo’s energy service platform Otovo ASA (“Otovo”), a leading global energy service provider for residential and commercial customers, today announced it has reached 30,000 customers across the U.S. and Europe. A total of 20,000 customers have enrolled in Otovo Care, the Company’s membership-based home and commercial energy service, which is powered by Otovo’s industry-leading AI platform, Endurance™. “Reaching 30,000 customers in less than year is proof positive that home and business owners value their power systems,” said William J. (John) Berger, CEO of Otovo. “The ‘solar service crisis’ that is leaving millions of orphaned energy systems without support is driving strong interest in our Otovo Care membership program. Every day your home or commercial power system is not working, you are throwing money away. Otovo’s rapid response service platform keeps you up and running, ensu
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom