NAGA Group reports revenue and earnings growth in H1 2025
NAGA Group AG, operator of the all-in-one financial SuperApp NAGA, reported revenue and profit growth for the first half of 2025, according to preliminary unaudited figures. The company’s revenue rose 2% year-over-year to €32.2 million, compared with €31.6 million in the same period of 2024.
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According to the company’s report, net revenue — calculated after deducting execution, liquidity, and payment processing costs — increased 3% to €28.9 million. EBITDA grew 8% to €3.0 million, despite higher marketing expenses aimed at driving long-term development.
Strategic marketing push and efficiency gains
In line with its growth strategy, NAGA increased marketing investments in the first half of 2025 to boost brand awareness and accelerate customer acquisition. This planned rise in marketing spending was offset by substantial gains in operational efficiency and cost savings, particularly from the successful merger of NAGA Group and CAPEX.com, completed in 2024. The synergies from the integration allowed the company to reduce several expense categories, helping maintain profitability and laying the groundwork for future growth.
Margins reflect positive operating leverage
Despite higher advertising costs, NAGA’s EBITDA margin increased to 9.3% from 8.8% a year earlier, supported by the company’s unified technology platform and streamlined operating model. The net revenue margin also improved, underscoring the effectiveness of disciplined cost control and a scalable infrastructure.
“The first half of 2025 went according to plan: while maintaining strict operational discipline, we invested decisively in growth,” said CEO Octavian Patrascu. “The synergy from merging the two companies is evident in the year-on-year growth in revenue and EBITDA. These improvements give us the financial flexibility to allocate even more resources to marketing for the next stage of growth.”
Full-year outlook maintained
The company reaffirmed its 2025 full-year outlook, expecting revenue to return to the projected 2023 level and a significant improvement in its EBITDA margin into the mid-double-digit range. Management cited the ongoing execution of the One-Brand strategy, scalable platform, and strict cost management as key drivers behind the forecast.
NAGA’s results highlight the balance between aggressive market expansion and disciplined financial management, positioning the company to capture additional market share in the global fintech sector while improving profitability.
See also: NAGA Group tops 2024 forecast with €63.2M revenue
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