Nagarro Reports 6.1% YoY Revenue Growth in 9M 2024

Nagarro SE has reported a 6.1% year-over-year revenue growth in constant currency for the first nine months of 2024. The company's revenue for Q3 2024 rose to €242.9 million, marking a 3.7% increase from Q3 2023. Organic revenue growth for the quarter was 5.0% in constant currency. The gross profit increased significantly, reaching €76.5 million as per the current method.

Adjusted EBITDA rose to €34.6 million, up from €32.0 million in the previous year. The net profit for Q3 grew slightly to €12.8 million. Over the nine-month period, revenue reached €725.4 million, up from €690.6 million in 2023. Nagarro's cash balance rose by €30.9 million, totaling €141.0 million by September 30, 2024.

The headcount saw a reduction of 475 professionals, with the total standing at 17,938 by the end of the nine months. A decrease in the Net Promoter Score from 66 in Q1 to 59 in Q3 was noted. Nagarro plans to hold an analyst and investor video call to discuss these results further.