MUNICH, May 15, 2023 /PRNewswire/ -- Nagarro, a
global leader in digital engineering and technology solutions,
today stated its unaudited financial numbers for Q1 2023 and
released its three-month statement.
Nagarro continued to grow into Q1 2023 in constant currency
terms, with constant currency QoQ growth of 2.6% over Q4 2022.
Revenue grew to €229.5 million in Q1 2023 from
€185.5 million in Q1 2022. Q1 revenue grew 23.7% YoY
(22.9% in constant currency), while YoY organic revenue growth
was 22.2% (21.4% in constant currency). Gross profit grew
to €61.4 million in Q1 2023 from
€50.4 million in Q1 2022. Gross margin slightly dropped,
changing from 27.1% in Q1 2022 to 26.8% in Q1 2023.
Adjusted EBITDA grew by €2.4 million from
€29.0 million (15.6% of revenue) in Q1 2022 to
€31.4 million (13.7% of revenue) in Q1 2023. EBITDA
increased by €2.9 million from €27.9 million in
Q1 2022 to €30.8 million in Q1 2023. EBIT increased
by €2.6 million from €20.5 million in Q1
2022 to €23.1 million in Q1 2023. Net profit
increased by €1.2 million to €15.1 million in
Q1 2023 from €13.9 million in Q1 2022.
Operating cash inflow in Q1 2023 rose to
€17.0 million from €2.9 million in Q1 2022.
Days of sales outstanding, calculated based on the quarterly
revenue and including both contract assets and trade receivables,
was 69 days on March 31, 2023, which
was also its value on December 31,
2022.
The company added a net 696 professionals in Q1 2023, with most
of the net additions being trainees rather than lateral hires.
"This is the first quarter for which we are sharing our Net
Promoter Score or NPS. Our NPS of 65 shows that our clients love us
as much as we love them," said Vaibhav
Gadodia, Managing Director and CTO. "Our clients and we are
both eager for the economy to start moving again, so that we can
accelerate the use of technology to drive their growth and
ours."
Nagarro SE will hold its Q1 2023 earnings call on
May 15, 2023, 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). To attend, please register in
advance: https://web.lumiagm.com/170530490.
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 around 19,000 people in
34 countries. For more information, visit,
www.nagarro.com.
FRA: NA9 (SDAX/TecDAX, ISIN DE000A3H2200, WKN A3H220)
For inquiries, please contact press@nagarro.com.
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