NAGA Group, a prominent provider of the comprehensive financial platform NAGA, has announced impressive preliminary unaudited financial results for the fiscal year 2023, marking a notable recovery amid challenging market conditions.
Despite a slight dip from the previous fiscal year’s EUR 57 million, NAGA demonstrated resilience by achieving a revenue of over EUR 45.5 million. The highlight of these results is the company’s unprecedented EBITDA of EUR 7 million, showcasing a substantial improvement from the negative EUR 13.7 million reported in the preceding year.
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Throughout 2023, NAGA exhibited a robust growth trajectory in user engagement and activity levels. The platform witnessed the opening of over 132,000 new accounts, along with the execution of more than 9.2 million trades, surpassing the figures from 2022. Notably, copy trades saw an increase to 4.8 million from 3.5 million, and the traded volume surged to EUR 143 billion, up from EUR 137 billion in the previous year.
By the end of 2023, active users exceeded 21,000, showcasing a consistent upward trend compared to the 18,700 reported in 2022. This growth in unique user metrics is attributed to elevated average activity, deposit size, and lifetime value, underscoring the efficacy of NAGA’s strategic initiatives.