Nagarro Reports Impressive Revenue Growth for Fiscal Year 2024
In a recent announcement, Nagarro, a prominent player in the digital engineering sector, revealed its preliminary unaudited financial results for the fiscal year 2024, which ended on December 31. The company reported a remarkable revenue of €972 million, marking a year-on-year growth of 6.6% compared to €912.1 million in 2023. The growth becomes even more impressive when adjusted for constant currency, revealing a 7.2% increase in annual revenue.
This positive financial trajectory is supported by a significant rise in gross profit, which reached €295.8 million, reflecting a gross margin of 30.4%. Under the previous accounting method, gross profit was recorded at €253.9 million alongside a 26.1% margin, demonstrating an upward trend from €235.7 million in 2023 with a 25.8% margin.
Furthermore, Adjusted EBITDA significantly improved, rising to €146.5 million from €126.1 million in the prior year, which translates to a 16.2% increase. The Adjusted EBITDA margin saw an uplift to 15.1% from 13.8% in 2023, illustrating the effectiveness of Nagarro's strategic initiatives in enhancing profitability.
At the close of 2024, Nagarro reported a cash balance of €192.6 million, a substantial increase from €110.1 million at the end of the previous year. Conversely, the company’s loans and borrowings totaled €329.6 million in 2024, increased from €274.7 million in 2023, which reflects the firm's ongoing investments in growth and development.
As of December 31, 2024, Nagarro employed approximately 17,695 professionals, showcasing its expanding workforce amidst the company's growth trajectory. Vikram Sehgal, the company's COO and co-founder, expressed optimism about the company’s performance, stating, "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’s commitment to becoming a digital-first, fluidic, and innovative company stands firm as they continue to pave the way for success in the tech market. This growth places Nagarro in a strong position as they prepare to release the audited annual report for 2024 and the unaudited quarterly statement for Q1 2025 on May 15, 2025.
For more information on Nagarro's services and offerings, visit their official website at www.nagarro.com.
This positive financial trajectory is supported by a significant rise in gross profit, which reached €295.8 million, reflecting a gross margin of 30.4%. Under the previous accounting method, gross profit was recorded at €253.9 million alongside a 26.1% margin, demonstrating an upward trend from €235.7 million in 2023 with a 25.8% margin.
Furthermore, Adjusted EBITDA significantly improved, rising to €146.5 million from €126.1 million in the prior year, which translates to a 16.2% increase. The Adjusted EBITDA margin saw an uplift to 15.1% from 13.8% in 2023, illustrating the effectiveness of Nagarro's strategic initiatives in enhancing profitability.
At the close of 2024, Nagarro reported a cash balance of €192.6 million, a substantial increase from €110.1 million at the end of the previous year. Conversely, the company’s loans and borrowings totaled €329.6 million in 2024, increased from €274.7 million in 2023, which reflects the firm's ongoing investments in growth and development.
As of December 31, 2024, Nagarro employed approximately 17,695 professionals, showcasing its expanding workforce amidst the company's growth trajectory. Vikram Sehgal, the company's COO and co-founder, expressed optimism about the company’s performance, stating, "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’s commitment to becoming a digital-first, fluidic, and innovative company stands firm as they continue to pave the way for success in the tech market. This growth places Nagarro in a strong position as they prepare to release the audited annual report for 2024 and the unaudited quarterly statement for Q1 2025 on May 15, 2025.
For more information on Nagarro's services and offerings, visit their official website at www.nagarro.com.
Topics Business Technology）
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