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NAGA Group's audited financial figures for 2025 revealed a 12% increase in EBITDA to EUR 3.7 million, surpassing the preliminary estimate of EUR 3.3 million. Revenue for the year stood at EUR 62.4 million, slightly lower than the previous year's EUR 63.2 million, though the FX-adjusted revenue rose to EUR 65.4 million. Notably, NAGA reported its first profitable quarter in early 2026, with a net profit of EUR 500,000 and an improved EBITDA margin of 15.8%. The company also secured a MiCA license for crypto operations in Europe, reinforcing its strategic focus on the crypto market.
The improved EBITDA and profitability signal NAGA's successful transformation post-merger with CAPEX Group, which streamlined operations and reduced costs. The MiCA license positions NAGA as a key player in Europe's evolving crypto regulatory landscape, potentially attracting institutional investors and expanding its market share. For traders, the company's leaner model and growth in funded accounts (up 37.5%) suggest enhanced operational efficiency and customer acquisition strategies.
Looking ahead, NAGA's 'super app' strategy under the Naga One brand could intensify competition with firms like CMC and IG. Investors should monitor its ability to sustain profitability amid regulatory changes and market volatility. The company's focus on cost optimization and crypto expansion may drive long-term value, though risks from geopolitical and economic factors remain.
