Nagarro Reports Preliminary Financial Numbers for 2024, Shows Impressive Revenue Growth

Nagarro's Preliminary Financial Results for 2024

Nagarro, a prominent player in the global digital engineering space, has unveiled its preliminary, unaudited financial results for the fiscal year ending December 31, 2024. The results demonstrate a notable revenue increase and enhanced profitability indicators, painting a promising picture for the company's future.

Revenue Highlights

For the year 2024, Nagarro reported a revenue of 8972 million, representing a growth of 6.6% compared to the 8912.1 million recorded in 2023. Adjusted for currency fluctuations, the growth rate stands at 7.2%. This surge in revenue can largely be attributed to Nagarro's strategic initiatives aimed at expanding its market presence while enhancing client services.

To align better with industry standards, as of the first quarter of 2024, Nagarro revised its cost of revenue definition. As a result, the Gross Profit for 2024, according to the new method, increased to 8295.8 million, reflecting a Gross Margin of 30.4%. Comparatively, under the previous calculation method, the Gross Profit was 8253.9 million, indicating a Gross Margin of 26.1%. This positive shift reveals Nagarro's efforts to optimize operational efficiencies and cost management.

Adjusted EBITDA Growth

Alongside revenue, Nagarro also achieved an increase in its Adjusted EBITDA, which rose from 8126.1 million in 2023 to 8146.5 million in 2024. Furthermore, the Adjusted EBITDA margin improved from 13.8% in the previous year to 15.1% this year, highlighting effective management and operational strategies that have translated into greater profitability.

Financial Position

At the end of 2024, Nagarro reported liquid assets of 8192.6 million, a significant increase from 8110.1 million at the end of 2023. However, it is crucial to note that financial liabilities also rose to 8329.6 million by the end of 2024, up from 8274.7 million the previous year. This reflects the company's strategic investments aimed at future growth.

As of December 31, 2024, Nagarro's workforce comprised 17,695 professionals, an integral aspect of the company’s operational success and client service excellence.

Future Outlook

Vikram Sehgal, the Chief Operating Officer and Co-Founder of Nagarro, expressed optimism regarding the company’s performance amidst macroeconomic challenges. “We are thrilled to have achieved a robust performance in 2024, despite the headwinds. We are entering 2025 on a strong note, and we are eager to implement further transformative changes to assure sustainable and profitable growth in the years to come,” he stated.

Nagarro is set to release its audited financial report for the year 2024, along with its first quarter report for 2025, on May 15, 2025. This forthcoming data will provide deeper insights into the company's financial health and operational strategies moving forward.

In essence, Nagarro is not only aiming to solidify its status as a trailblazer in digital engineering but is also committed to achieving excellence in profitability and market performance through strategic initiatives and effective management practices.

Conclusion

Nagarro's preliminary financial results not only indicate resilience but also exhibit a clear trajectory towards growth and enhanced profitability. As the digital landscape continues to evolve, Nagarro's proactive approach positions it favorably to capitalize on emerging opportunities within the market. Investors and stakeholders can eagerly anticipate the comprehensive financial disclosures scheduled for mid-May, which will shed further light on this innovative company's ongoing progress.