NAGA AG (Xetra : N4G), a German social Trading Platform , has reported a higher preliminary EBITDA of EUR 5.7 million for the third quarter of the ongoing fiscal. The company, in a trading update, previously reported this figure to be at EUR 4.5 million.
With this, the EBITDA of the company for the first nine months of 2021 came in at around EUR 8.6 million.
The financial services firm published its half-yearly financial report showing total revenue of around EUR 23 million between January and June, along with a total output of EUR 24.5 million and an EBITDA of around EUR 3 million in the period.
“This was the strongest half-year result in our company's history. A very strong YoY growth in revenues, users and transactions,” said NAGA CEO Benjamin Bilski. “Despite more than 90% in revenue growth and increased marketing activities, we were able to deliver a positive EBITDA result, which we were very satisfied with.”
Another Record Year
The activities at NAGA has surged significantly over the past few years as it witnessed revenue surge for several quarters now, thus hitting record constantly.
“If you look at the quarterly EBITDA development it is quite visible how we accelerate marketing periodically and then amortize it. The third quarter was the result of good work in the first six months and shows the potential of our business model,” Bilski added.
Known for offering social trading services, the company is also expanding its services and has partnered with Visa for the launch of its payments platform. NAGA even launched global stock trading services recently and is prepared to offer an NFT marketplace as well.
“We are looking forward to 2022 and have taken measures to even further accelerate growth in the upcoming months and years,” the CEO said.
