Nagarro SE Q2 2025 Earnings Recap

Nagarro reported Q2 2025 revenue of EUR 252 million amid a challenging IT services environment, with resilient operational performance overshadowed by significant currency-related losses impacting adjusted EBITDA.

Key Takeaways

• Adjusted EBITDA for Q2 was EUR 30.5 million, resulting in a margin of 12.1%, impacted by EUR 18 million in losses from currency fluctuations.
• Gross margin improved to 33.2% from 30.0% year-over-year, driven by effective productivity initiatives.
• The company expects full-year 2025 revenue to fall near the lower end of the previously estimated range of EUR 1,020 million to EUR 1,080 million.
• Despite external pressures, the customer satisfaction metric remains strong with an NPS of 66, backed by 188 accounts each generating over EUR 1 million.
• Encouraging demand for AI and digital transformation solutions is expected to drive growth initiatives moving forward.