Nagarro announces preliminary numbers for FY 2024: revenue grows to €972 million, Adjusted EBITDA margin to 15.1%

• Revenue of €972.0 million
• Gross margin of 30.4%
• Adj. EBITDA margin of 15.1%

MUNICH, April 29, 2025 /PRNewswire/ -- Nagarro, a global digital engineering leader, today announced its preliminary unaudited financial numbers for its full year ended December 31, 2024. Revenue grew to €972.0 million in 2024, up from €912.1 million in 2023, a YoY growth of 6.6%. The constant currency growth in annual revenue was 7.2%. Nagarro has revised the definition of cost of revenues from Q1 2024 onwards to align it better with that of other IT services companies. Gross profit in 2024 grew to €295.8 million as per the current method (30.4% gross margin) and €253.9 million as per the previous method (26.1% gross margin), up from €235.7 million in 2023 as per the previous method (25.8% gross margin). Adjusted EBITDA grew to €146.5 million in 2024 from €126.1 million in 2023. Adjusted EBITDA margin grew to 15.1% in 2024, up from 13.8% in 2023.

Nagarro's cash balance at the end of 2024 was €192.6 million as against €110.1 million at the end of 2023. Nagarro's loans and borrowings at the end of 2024 were €329.6 million as against €274.7 million at the end of 2023. The company reported 17,695 professionals as of December 31, 2024.

Vikram Sehgal, COO and co-founder, said, "We are pleased to have delivered a robust 2024, despite the macro headwinds, and we have had a sound start into 2025. We are also excited about the many changes we are making to deliver profitable growth reliably in the years to come."

Nagarro will publish both the audited annual report for 2024 and the unaudited quarterly statement for Q1 2025 on May 15, 2025.

KPI	2024 (preliminary, unaudited)	2023	Estimated growth (preliminary, unaudited)
Revenue	€972.0 million	€912.1 million	6.6% YoY 7.2% YoY in constant currency
Gross profit (current method)	€295.8 million	N/A
Gross profit (previous method)	€253.9 million	€235.7 million	7.7% YoY
Gross margin (current method)	30.4 %	N/A
Gross margin (previous method)	26.1 %	25.8 %
Adjusted EBITDA	€146.5 million	€126.1 million	16.2% YoY
Adjusted EBITDA margin	15.1 %	13.8 %

About Nagarro

Nagarro, a global digital engineering leader, helps clients become fluidic, innovative, digital-first companies and thus win in their markets. The company is distinguished by its entrepreneurial, agile, and global character, its CARING mindset, and its Fluidic Enterprise vision. Nagarro employs about 17,700 people in 38 countries. For more information, please visit www.nagarro.com.

(FRA: NA9) (SDAX/TecDAX: DE000A3H2200) (ISIN: DE000A3H2200) (WKN: A3H220)

For inquiries, please contact [e-mail].

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