Hamburg based online trading provider NAGA Group AG (ETR:N4G0), the multi-asset fintech group behind the NAGA SuperApp Naga One, has released its results for Q1 2026, reporting a significant improvement in profitability, and indeed achieving its first net profit in a first quarter in the Company’s history. The company said that NAGA’s performance in Q1 reflects an improved cost base, increased operational efficiency, and a stable to positive development of key performance indicators. Initial effects from operational measures implemented during 2025 are becoming visible.

Market Environment and Business Drivers

The market environment in Q1 2026 was characterized by mixed volatility across asset classes. Periods of elevated activity were driven primarily by macroeconomic developments and renewed momentum in crypto markets.

NAGA’s operational performance benefited from a combination of stable trading activity, improved client quality, and disciplined cost management.

Financial Performance Q1 2026

Group revenue amounted to €14.4 million in Q1 2026 (Q1 2025: €16.4 million). Adjusted for foreign exchange effects, revenue was in line with the prior-year level, indicating stable underlying business performance.

EBITDA increased significantly to €2.3 million (Q1 2025: €1.0 million), while the EBITDA margin improved to 15.8% (Q1 2025: 6.1%). This development was supported by an optimized cost structure and efficiency gains across operations. The improvement reflects a more efficient operating model with a structurally lower cost base compared to prior periods.

Net profit totaled €0.5 million (Q1 2025: €-1.7 million), marking the first profitable first quarter in the Company’s history.

Within the quarter, March represented the strongest month in terms of trading activity and provided positive momentum into the second quarter of 2026.

Operational KPIs

In Q1 2026, NAGA recorded 87,500 new registered users and 4,903 new funded accounts, reflecting a continued recovery in user activity compared to the previous quarter. Trading volume amounted to USD $80.7 billion ($27 billion monthly average trading volume) and showed a clear increase compared to Q1 2025, driven by higher trading activity and improved market conditions.

Sequentially, key operational indicators continued to improve, with higher activity, rising net deposits, and declining client withdrawals, indicating stronger platform engagement and improving client quality, while partially offsetting the decline in new funded accounts.

Strategic Developments

In Q1 2026, NAGA said it made further progress in implementing operational improvements. Technology-supported initiatives, including the use of AI-driven tools, contributed to efficiency gains across key areas, including marketing, customer support, and internal processes. This enabled faster execution, more efficient campaign deployment, and enhanced scalability of key operational functions without a corresponding increase in the cost base.

In addition, the Group continued to expand its distribution activities. A newly signed distribution partnership and ongoing discussions regarding additional white-label collaborations are expected to support international reach and contribute to the Group’s growth profile over time. These initiatives are not reflected in the current guidance.

Outlook

Based on the performance in the first quarter of 2026, management confirms its full-year guidance. The Company continues to expect revenue in the range of €68 million to €75 million and EBITDA between €10 million and €15 million.

Octavian Patrascu, CEO of The NAGA Group, commented,

“Q1 2026 marks an important step forward for NAGA. We delivered our first profitable first quarter while significantly improving our EBITDA margin. At the same time, we continued to strengthen our operational performance and efficiency. These developments support our focus on disciplined execution and provide a solid foundation for the remainder of 2026.”

About NAGA

NAGA is a publicly listed German fintech group operating a multi-asset SuperApp that unifies trading, stock and ETF investing, crypto, social trading, and neo-banking in one platform. Powered by proprietary technology and advanced social features including autocopy trading, NAGA serves a global community of over 2.5 million registered users across more than 100 countries, supported by 10 local offices and multiple regulatory licenses. The platform features an integrated VISA card with fiat and crypto conversion, dynamic social feeds, and a comprehensive product suite designed to make financial markets accessible to everyone.