NAGA Reports Q1 Gains on Strong Commission Income

NAGA reports Q1 gains, driven by increased commission income and strong trading activity across volatile markets. The NAGA Group AG, branding itself as a financial superapp, recorded a year-over-year revenue increase in Q1 2025, primarily due to an uptick in commission-based income. The company also highlighted a rise in client onboarding and trading volume, helped by persistent market volatility.

Nonetheless, specific financial data for the quarter has not yet been disclosed by the broker.
NAGA added that “early cost-side synergies also began to materialise.” The firm also ramped up marketing spend during the quarter to fuel its platform’s growth.

NAGA Reports Q1 Gains Backed by Cost Synergies

NAGA revealed its audited financials for 2024, posting €63.2 million in total revenue and a Group EBITDA of €9.0 million—both figures topping the earlier estimates of €62.3 million in revenue and €8.1 million in EBITDA.

The audited figures also showed an improved EBITDA margin of 14%, slightly higher than the 13% reported in preliminary results. NAGA attributed this to “stronger-than-anticipated synergies” stemming from its merger with CAPEX.com.

“The audited financials for 2024 confirm that we not only met but clearly exceeded our preliminary figures,” stated Octavian Patrascu, CEO of The NAGA Group.

“This performance validates the strength of our strategic transformation – from the successful CAPEX merger to the unified market approach and operational integration. Furthermore, our Q1 2025 results demonstrate that we are entering the new financial year with strong momentum and a clear growth trajectory.”

Widening Offerings and Market Presence

In a low-key move, NAGA acquired TRADE.com’s UK division last year. The acquisition followed a marked decline in TRADE.com’s UK revenues and a steep rise in administrative expenses, resulting in net losses of £346,000.

To lure in new users, NAGA began offering a 2.77% APY on idle euros held on its platform. By contrast, IG Group introduced a promotional rate of 8.5% on cash balances—more than twice the Bank of England’s base rate.

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