Brokerage group NAGA released a set of financial results for 2024 on Thursday, with CEO Octavian Patrascu and CFO Ricardo Cravo going over the company’s performance for the year.
There were a few striking figures in the presentation, which is the first to provide some colour on what the company might look like after its merger with CAPEX.com went through in the summer of last year.
As reported on TradeInformer previously, the newly merged group decided to use the NAGA brand for its services and will do so moving forward.
Almost 40% of NAGA revenues came from the GCC, which also had the highest value clients
One of the things that the NAGA presentation did was to break down revenues by region.
There were lots of interesting facts here.
Firstly, the group made almost 40% of its revenues in the GCC region. Previously NAGA only made 3% of revenues from GCC countries.
The change was likely due to CAPEX’s performance, as the group had built a strong presence and brand in the region prior to the merger with NAGA.
GCC clients also had the highest average lifetime value of $5,225. By comparison, Europe was $3,847, LATAM was $2,038, and the ROW was $1,765.
Telegram brought in 8% of new clients
NAGA became the first broker to launch a mini app within Telegram last year.
As reported on TradeInformer towards the end of last year, the initial surge in users of that mini app was huge.
You can also see the impact in the report, as NAGA said 8% of new clients came from Telegram.
There were some other big changes in the marketing mix.
For example, affiliates only brought in 1% of NAGA’s new clients in 2023. Last year the figure was 27%.
As an individual category, this was the largest marketing channel for the brokerage group last year.
New clients rose to 18.6k, active clients hit 41k
The final interesting tidbit in the presentation was on new client figures.
The company said the number of new clients rose from 12.2k in 2023 to 18.6k in 2024.
Active clients also rose from 27k to 41k. As that suggests, the company is also not just churning through clients and getting new ones.
In fact, NAGA said it continues to have good levels of retention, with more than 55% of clients still trading with the company after 12 months and almost a third still active after 24 months.
