THE-NAGA-GROUP-AG
20.7.2021 13:38:09 CEST | Business Wire | Press release
NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for financial market trading NAGA.com, announces the preliminary group figures for its record-half year 2021.
NAGA continues its impressive growth journey. With unaudited preliminary revenues of more than USD 15 million in Q2 (Q2 2020: USD 6.3 million) NAGA delivered the 11th consecutive quarter of record growth posting a 135% quarter over quarter. Total group sales of the first half year amounted to USD 29 million which is +85% increase to USD 15,7 million of the first half year in 2020 and almost the entire revenue of 2020 (USD 30 million).
NAGA's unique social-investing concept is one of the major growth drivers with its core functionality auto-copy trading. Copied trades grew by 366% to 2.8 million in HY21 (HY20: 0.6 million), which also surpassed the entire number of copied trades of 2020 (1.7 million) by 64%. Overall transactions in HY21 jumped by 78% to 4.8 million (HY20: 2.7 million).
Traded volume has also seen significant growth of more than 160% compared to the same period last year. In 2021 over USD 155 billion were traded over the NAGA.com platform (HY20: USD 59 billion). During the first half year, NAGA has already seen more traded volume than the entire year of 2020 (USD 143 billion).
"2021 was fantastic for us and we keep on accelerating our growth. We are entering growth levels which will soon elevate our brand and platform to global success. It's all a question of marketing, brand awareness and ensuring that our systems scale. We understand our profitability ratios better and our cohort's user growth is healthy", commented CEO Benjamin Bilski on the record numbers.
NAGA additionally continues to improve its product offering. With its brand-new popular investor-program it launches an innovative copy-trading dashboard with audience analytics and career-path for content creators and traders who aim to monetize their skillset. Furthermore, a new crypto-wallet and social features are being released. And to top it up, its payment app NAGA Pay comes close to being released later in the quarter.
"Given the current valuations of peers from the payment space we believe that NAGA Pay will be an absolute growth catalyst for the Group and strengthens our growth speed. We are extremely excited to get started and expect a lot of interest. We have 100,000 cards being delivered for the launch day", adds Bilski.
The company is also pleased to inform that after a COVID-19 related delay the audited 2020 consolidated financial statements will be published and uploaded on July 26th on the company's investor relation website, https://ir.naga.com
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About NAGA
NAGA is an innovative fintech company that seamlessly connects personal finance transactions and investments through its social trading platform. The company's proprietary platform offers a range of products from stock trading, investments and cryptocurrencies to a physical VISA Card. Additionally, the platform allows for exchanges with other traders, provides relevant information in the feed, and autocopy features for successful members' trades. NAGA is a synergistic total solution that is easily accessible and inclusive. It provides an improved foundation to trade, invest, network, earn and pay.
| Language: | English |
| Company: | The NAGA Group AG |
| Hohe Bleichen 12 | |
| 20354 Hamburg | |
| Germany | |
| E-mail: | info@naga.com |
| Internet: | www.naga.com |
| 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/20210720005701/en/
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