services
A holistic approach that accelerates your current vision while also making you future-proof. We help you face the future fluidically.
Digital Engineering

Value-driven and technology savvy. We future-proof your business.

Intelligent Enterprise
Helping you master your critical business applications, empowering your business to thrive.
Experience and Design
Harness the power of design to drive a whole new level of success.
Events and Webinars
Our Event Series
Featured Event
23 - 26 Jun
Booth #1692, Colorado Convention Center, Denver
Our Latest Talk
By Kanchan Ray, Dr. Sudipta Seal
video icon 60 mins
About
nagarro
Discover more about us,
an outstanding digital
solutions developer and a
great place to work in.
Investor
relations
Financial information,
governance, reports,
announcements, and
investor events.
News &
press releases
Catch up to what we are
doing, and what people
are talking about.
Caring &
sustainability
We care for our world.
Learn about our ESG
initiatives.

Fluidic
Enterprise

Beyond Agility, the convergence of technology and human ingenuity.
talk to us
Welcome to digital product engineering
Thanks for your interest. How can we help?
 
 
 

May 14, 2024: Today, Nagarro, a global digital engineering leader, presented its unaudited financial numbers for Q1 2024 and released its three-month statement.

In Q1 2024, revenue grew to €238.3 million, up 7.6% QoQ from €221.4 million in Q4 2023 and up 8.7% QoQ in constant currency. Organic QoQ revenue growth for the quarter was 7.4% in Euro terms and 8.6% in constant currency. Revenue grew 3.8% YoY from €229.5 million in Q1 2023 and was up 5.0% YoY in constant currency, while organic revenue growth was a positive 2.9% YoY in Euro terms but a negative 0.4% YoY in constant currency. Gross profit grew to €63.9 million (as per the previous method) and was €73.6 million (as per the current method)* in Q1 2024 from €61.4 million (as per the previous method) in Q1 2023. Gross margin remained the same as in Q1 2023 at 26.8% (as per the previous method) and was 30.9% in Q1 2024 (as per the current method). Adjusted EBITDA grew by €7.8 million from €31.4 million (13.7% of revenue) in Q1 2023 to €39.2 million (16.4% of revenue) in Q1 2024.

EBITDA increased by €5.2 million from €30.8 million in Q1 2023 to €36.0 million in Q1 2024. EBIT increased by €3.6 million from €23.1 million in Q1 2023 to €26.6 million in Q1 2024. Net profit increased by €1.4 million to €16.6 million in Q1 2024 from €15.1 million in Q1 2023.

Operating cash inflow in Q1 2024 rose to €25.9 million from €17.0 million in Q1 2023. Days of sales outstanding, calculated based on the quarterly revenue and including both contract assets and trade receivables, has improved slightly, from 84 days on December 31, 2023, to 80 days on March 31, 2024.

The Net Promoter Score from the customer satisfaction survey conducted in Q1 2024 was 66. The company reduced 145 professionals (net) in Q1 2024 to 18,268.

Monika closeup_cropped

Monika Gupta, Managing Director of Nagarro, said, “Nagarro continues to be the digital transformation partner of choice for our clients. We anticipate that as confidence grows in the economy, there will be an upsurge in opportunities for digital transformation work with our clients, facilitating them to become human-centric, digital-first organizations.

 

*Nagarro has revised the definition of cost of revenues from Q1 2024 onwards to align it better with that of other IT services companies.

Earnings call

Nagarro SE will hold its analyst and investors meeting as a video call to discuss the Q1 report 2024 on May 14, 2024, at 01:00 pm CEST (04:00 am PT / 06:00 am CT / 07:00 am ET / 12:00 pm BST / 03:00 pm GST / 04:30 pm IST / 07:00 pm SGT / 08:00 pm JST).

Nagarro SE will hold its retail investors call to discuss the Q1 report 2024 on May 14, 2024, at 02:30 pm CEST (05:30 am PT / 07:30 am CT / 08:30 am ET / 01:30 am BST / 04:30 pm GST / 06:00 pm IST / 08:30 pm SGT / 09:30 pm JST).

To attend the earnings call, please register here in advance. 

 

Quarterly statement

Please click here to read the group quarterly statement for the period ended March 31, 2024.

 

 

 

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 over 18,000 people in 36 countries. For more information, please visit www.nagarro.com

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

For inquiries, please contact press@nagarro.com