-- Revenue of EUR972.0 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 EUR972.0 million in 2024, up from EUR912.1 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 EUR295.8 million as per the current method (30.4% gross margin) and EUR253.9 million as per the previous method (26.1% gross margin), up from EUR235.7 million in 2023 as per the previous method (25.8% gross margin). Adjusted EBITDA grew to EUR146.5 million in 2024 from EUR126.1 million in 2023. Adjusted EBITDA margin grew to 15.1% in 2024, up from 13.8% in 2023.
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Nagarro's cash balance at the end of 2024 was EUR192.6 million as against EUR110.1 million at the end of 2023. Nagarro's loans and borrowings at the end of 2024 were EUR329.6 million as against EUR274.7 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 2023 Estimated growth (preliminary, unaudited) (preliminary, unaudited) Revenue EUR972.0 million EUR912.1 million 6.6% YoY 7.2% YoY in constant currency Gross profit EUR295.8 million N/A (current method) Gross profit EUR253.9 million EUR235.7 million 7.7% YoY (previous method) Gross margin 30.4 % N/A (current method) Gross margin 26.1 % 25.8 % (previous method) Adjusted EBITDA EUR146.5 million EUR126.1 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 [http://www.nagarro.com/].
(FRA: NA9) (SDAX/TecDAX: DE000A3H2200) (ISIN: DE000A3H2200) (WKN: A3H220)
For inquiries, please contact press@nagarro.com [mailto:press@nagarro.com].
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Photo: https://mma.prnewswire.com/media/844192/3850575/Nagarro_Logo.jpg NagarroCONTACT: Gagan Bakshi | gagan.bakshi@nagarro.com | +91 997 185 5664
