MUNICH, Aug. 12, 2022 /PRNewswire/ -- Nagarro, a
global digital engineering leader, today presented its unaudited
key financial numbers for Q2 2022 (April 1
to June 30, 2022) as part of its half-yearly financial
report 2022. Nagarro carried over its revenue momentum from Q1 2022
into Q2 2022. Demand continued to be strong and appeared unaffected
by the looming possibility of a slowdown in the economy. Revenue
grew to €210.0 million in Q2 2022, up 65.0%
YoY from €127.3 million in Q2 2021, and up
13.2% QoQ from €185.5 million in Q1
2022.
Constant currency YoY revenue growth for Q2 2022 was 55.7%.
Gross profit increased to €60.2 million in Q2 2022 from
€38.0 million in Q2 2021. Gross margin dropped to
28.7% in Q2 2022 from 29.9% in Q2 2021. Adjusted EBITDA
grew by 111.9% YoY to €40.2 million (19.1% of
revenue) in Q2 2022, from €19.0 million (14.9% of
revenue) in Q2 2021.
EBITDA in Q2 2022 grew by 156.2% YoY to €39.4 million, from
€15.4 million in Q2 2021. The main EBITDA adjustment was
on account of stock option expense of €0.8 million. EBIT increased
by 224.0% YoY to €31.1 million, from €9.6 million in
Q2 2021. Net profit increased by 296.3% YoY to €22.3 million
against €5.6 million in Q2 2021.
The company added a net 872 professionals in Q2 2022 – a number
that includes trainees and lateral hires.
Dipika Srivastava, a Nagarrian in
Lucknow, India, who works on
cloud, web APIs and Microservices, said: "Each and every Nagarrian
is thrilled at the growth we have been able to achieve. Nagarro is
clearly making its mark as the world's leading provider of agile
technology services."
H1 results
Nagarro released its half-yearly financial report. Revenue grew
to €395.6 million in H1 2022 (January 1 to June 30, 2022), up
62.8 % YoY from €243.0 million in H1 2021.
Constant currency revenue growth for H1 2022 was 55.6%. Gross
profit increased to €110.5 million in H1 2022 from
€72.1 million in H1 2021. Gross margin dropped to
27.9% in H1 2022 from 29.7% in H1 2021. Adjusted EBITDA
grew 84.3 % YoY to
€69.1 million (17.5 % of revenue) in H1 2022,
up from €37.5 million (15.4% of revenue) in H1 2021.
EBITDA increased by 105.7 % YoY to €67.2 million,
from €32.7 million in H1 2021. EBIT increased by
141.2 % YoY to €51.6 million, from
€21.4 million in H1 2021. Net profit increased by
172.4 % YoY to €36.2 million against
€13.3 million in H1 2021. The cash balance decreased by
€34.5 million from December 31,
2021 to €72.1 million, mainly on account of expenses
related to various acquisitions.
Nagarro will hold its analyst meeting as a video call to discuss
half-yearly financial report 2022 on August
12, 2022, 1:30 pm CEST
(Berlin), which corresponds to
12:30 pm BST (London), 7:30 am
EDT (New York City),
4:30 am PDT (San Francisco), 7:30
pm SGT (Singapore),
8:30 pm JST (Tokyo) and 5:00 pm
IST (New Delhi). Please
feel free to register here for our earnings video call.
About Nagarro
Nagarro, a global digital engineering leader, helps clients
become 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 approach
of thinking breakthroughs. Nagarro employs over 16,800 people and
is present in 31 countries. For more information,
www.nagarro.com.
FRA: NA9 (SDAX/TecDAX, ISIN DE000A3H2200, WKN A3H220)
For inquiries, please contact press@nagarro.com
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