NAGA Group has published its preliminary financial results for April 2022. During last month, the financial services provider saw the strongest monthly profitability with monthly revenue of €7 million.
The German-based neo brokerage also reported EBITDA ratio jump of almost 50% in April. NAGA saw strong growth across different segments during that period. Additionally, the company also witnessed significant improvement in customer satisfaction, team structure and product innovation.
Benjamin Bilski, the Founder and Chief Executive Officer of NAGA, commented:
Already in the first four months of the current year 2022, we managed to exceed the revenue of the first half of 2021. At the start of the second quarter, we saw a solid comeback in trading activity. Our focus remains on increasing our growth activities to counteract any negative market trends. We are in line with our projections. Our confidence in the company is stronger than ever in these challenging times.
The gains in the April trading update follows a strong first quarter for the Group. LeapRate reported last month the financial results of NAGA, reporting a 63% jump in revenue in Q1.
The company also noted that its NAGAX NFT platform and its blockchain NXNFT are now live.
This year, we are experiencing very challenging market conditions and profitability, in particular, is an important factor that investors are looking for in 2022. At NAGA this is absolutely the case – we have generated positive cash flow as we have continued to successfully grow our business.