# Nagarro posts 65.0% YoY revenue growth in Q2

URL: https://technosports.co.in/nagarro-posts-65-0-yoy-revenue/  
Published: 2022-08-12  
Updated: 2022-08-12  
Author: Raunak Saha

- Revenue grew to €210.0 million in Q2 2022, up 65.0% YoY from €127.3 million in Q2 2021
- 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

**New Delhi, August 12, 2022** – [Nagarro](https://technosports.co.in/tag/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.

View Nagarro SE half-yearly 2022 report [here](https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.nagarro.com%2Fhubfs%2FInvestors%2FInvestorDocuments%2FNagarro%2520HY%25202022%2520report_EN_final.pdf&data=05%7C01%7Canushkas%40avianwe.com%7Cfacd57bfd03c4a840ae608da7c477622%7C3ed60ab455674971a5341a5f0f7cc7f5%7C0%7C0%7C637958943640280967%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=Wa1GYkQp6mZd2Yi5m%2BsAtNIhgMiQbgZm1P13DBWKlAw%3D&reserved=0)