Naga Group Ag · XETR:N4G0
Naga — FY2025 Earnings Presentation
17 slides from Naga's earnings presentation, February 2026
Slide 1: Preliminary Results 2025 & Outlook 2026
NAGA - NuWays NAGA Group AG / XETRA: N4G Annual Results Presentation | February 2026 Preliminary Results 2025 & Outlook 2026
Slide 2: Agenda
NAGA - NuWays Agenda 03 09 - 11 12 - 13 04 - 08 NAGA at a glance Highlights Looking Ahead 2026 Financial Discipline - Guidance & Strategic Focus - Conclusion Deep Dive Product & Social Moat - Marketing Engine - Financials & Cost Discipline 2025 Performance Financial Overview - Industry Impact - The
Slide 3: NAGA at a Glance
NAGA - NuWays NAGA at a Glance * The FX adjusted basis for the 2025 results is intended to neutralize the impact of the significant depreciation of the USD relative to the EUR in 2025 compared to 2024, as it pertains to both revenue and costs denominated in USD. Cumulative scale, built over time 202
Slide 4: High Level Financials 2025: A Year of Consolidation & Resilience
NAGA - NuWays 2025 Performance High Level Financials 2025: A Year of Consolidation & Resilience Net Loss EBITDA Total Operating Expenses Net Revenue Revenue (in kEUR) (22,652) 56,028 2024* (6,761) 9,014€ 63,184 (21,830) 55,797 (5,361) 65,414 4,672€ 2025 Preliminary FXadj*** (21,746) (6,763) 62,358 5
Slide 5: Delivering through a triple headwind
NAGA - NuWays 2025 Performance * The FX adjusted basis for the 2025 results is intended to neutralize the impact of the significant depreciation of the USD relative to the EUR in 2025 compared to 2024, as it pertains to both revenue and costs denominated in USD. The hardest market since 2019 was our
Slide 6: Downturns Separate the Disciplined from the Rest
NAGA - NuWays 2025 Performance Market downturns reward companies that cut costs, fix fundamentals, and continue investing. Downturns Separate the Disciplined from the Rest Be ready for the turn Invest in growth when cheap Keep investing in products Fix fundamentals Cut costs Playbook Move Crisis (20
Slide 7: Key Deliverables: Execution, not promises
NAGA - NuWays 2025 Performance 13 Key Deliverables. This is what discipline looks like in practice. Social trading ~2X trading activity Geo shift to higher-value regions Full merger integration complete -8% Tech costs, -20% Operating Costs Total OpEx down 3.6% +13% registered users YoY +36% trading
Slide 8: Our Moat: The Everything Money Platform
NAGA - NuWays 2025 Performance DEEP DIVE Crypto 50+ Crypto instruments Derivatives Trading 2000+ instruments Discover NAGA Pay Home Discover NAGA Pay Spent this month 9:41 9:41 Total Wealth Home Total Wealth 200 100 150 50 Bogdan Welcome, Bogdan Welcome, Earn daily return on EUR Invest Cash Add Mone
Slide 9: A Scalable, Multi-Channel Marketing Engine
NAGA - NuWays Deep Dive More clients, lower CAC, diversified channels. NAGA is built to scale. A Scalable, Multi-Channel Marketing Engine Others LatAm Traffic sourced across multiple channels: Internal & digital acquisition Influencers & micro-influencers Affiliates & IBs SEO & organic brand traffic
Slide 10: Financials P&L
NAGA - NuWays Deep Dive FINANCials P&L Net Profit/(Loss) for the period Profit/loss for the year from discontinued operations Net Profit/(Loss) for the period from continued operations Income tax Earnings before taxes (EBT) Net finance expenses Depreciation and amortisation EBITDA after Business com
Slide 11: Operating Cost Breakdown
NAGA - NuWays Deep Dive OPERATING COST BREAKDOWN Operating cost: discipline and optimization Total Operating Expenses Capitalized development costs Operating expenses Technology & Infrastructure Employees' benefits and outsourced personel expenses * Certain reclassification were made in the 2024 com
Slide 12: 2025 vs 2026: Cost Cuts + Revenue Growth
NAGA - NuWays Looking Ahead 2025 vs 2026: COST CUTS + REVENUE GROWTH The cost restructuring continues - now with market tailwinds. 2026: DEEPENING THE DISCIPLINE Operating leverage: Cost trajectory: Revenue environment: OPERATIONS PERSONNEL Redundant costs eliminate Process automation expande Vendor
Slide 13: 2026 Outlook & Strategic Focus
NAGA - NuWays Looking Ahead STRATEGIC PRIORITIES FOR 2026 Upgraded targets. Backed by evidence. Built on momentum already visible. 2026 Outlook & STRATEGIC FOCUS THE SETUP: GROWTH We didnˇt just survive the downturn. We used it to build the company that captures the recovery. Integrated platform ¬68
Slide 14: Conclusion: Built. Proven. Ready to scale.
Page 14 CONCLUSION Built. Proven. Ready to scale. AI-first growth engine Disciplined growth AI embedded across marketing, operations, and growth. Lean structure. Faster execution. Automation and data intelligence are already improving speed, Clear focus on positive EBITDA and cash flow while continu
Slide 15: Q&A session
EVERYTHING MONEY Q&A session
Slide 16: Disclaimer
NAGA - NuWays Disclaimer The information and numbers included in this presentation are proprietary and are not to be distributed or shared without any prior consent as they are not binding nor guaranteed. They do not constitute investment advice or a profit promise and have been prepared solely for
Slide 17: Thank you for your attention!
Octavian Patrascu - Group CEO tavi@naga.com Thank you for your attention!