Nagarro Reports Mixed Half-Year Results Amid Currency Headwinds

The Munich-based company’s second-quarter performance highlighted a divergence between operational profitability and statutory earnings. Revenue for the quarter hit €252.4 million, a marginal increase from the previous year. While adjusted EBITDA climbed to €37.8 million—a 23.9% year-on-year jump—net profit reached €10.6 million. This bottom-line growth was largely attributed to the absence of withholding tax expenses on intra-group dividends, which helped offset a decline in reported EBITDA driven by higher share-based payment costs.

Operational metrics showed resilience as the company expanded its high-value client base, reaching 184 customers generating over €1 million in revenue as of June 30. Despite a dip in operating cash flow for the first half, the company maintains a stable cash balance of €131.3 million against borrowings of €310.5 million. With 18,711 professionals now on staff across 39 countries, Nagarro continues to focus on its core AI-native engineering strategy as it prepares to discuss these results in a scheduled earnings call.