NAGA Reports 157% YoY Growth in Q3 2021 Revenue

NAGA, provider of the social network for financial market trading NAGA.com, has posted its financials for the third quarter of 2021, showing a significant jump in revenue.

More specifically, revenue for Q3 2021 came in at $21 million, 157 percent and 38 percent higher year-over-year and month-over-month, respectively. The broker has generated a total of $48 million in revenue so far in 2021.

In addition, NAGA reported a preliminary unaudited record EBITDA of $5.2 million, up 125% compared to the $2.3 million in the corresponding period in 2020.

Nearly 15% of total sales in 2021 can be attributed to digital currencies, increased by over 600% on a YoY basis.

“We are extremely pleased with our Q3 numbers, which are a result of our effective growth strategy. At the beginning of the second quarter we scaled our marketing efforts considerably. Our marketing spend per new client is recouped within only 4.5 months, becoming highly profitable thereafter. Consequently, we will further accelerate our marketing activities in the next quarters to maintain the current momentum going into 2022. We feel well equipped to continue our growth trajectory, especially with the successful capital increase priced in September. In addition, we will accelerate our geographic expansion,” commented Benjamin Bilski, founder and CEO at NAGA.

As Fazzaco reported earlier, ​NAGA has raised €22.7 million (USD 26.7 million) in new equity capital​. Apeiron Investment Group and Igor Lychagov, founder of retail FX brokerage firm Exness, have participated in the latest financing round.