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State: 17.08.2024 | 11PM
Thu, 14.11.2024       Nagarro
DE000A3H2200

MUNICH, Nov. 14, 2024 /PRNewswire/ -- Today, Nagarro, a global digital engineering leader, presented its unaudited financial numbers for Q3 2024 and released its nine-month statement.

In Q3 2024, revenue grew to €242.9 million, up 3.7% YoY from €234.3 million in Q3 2023 and up 5.6% YoY in constant currency. Organic YoY revenue growth for Q3 2024 was 5.0% in constant currency, which translated to 3.0% organic YoY revenue growth in Euro terms. Nagarro has revised the definition of cost of revenues from Q1 2024 onwards to align it better with that of other IT services companies. Gross profit in Q3 2024 was €76.5 million as per the current method and €66.6 million as per the previous method, as compared to €56.1 million in Q3 2023 as per the previous method. Gross margin in Q3 2024 was 27.4% compared to 23.9% in Q3 2023, both as per the previous method. Gross margin was 31.5% in Q3 2024 as per the current method. Adjusted EBITDA grew to €34.6 million (14.3% of revenue) in Q3 2024 from €32.0 million (13.7% of revenue) in Q3 2023.

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