The company’s financial landscape shows a mix of stagnating organic growth and operational shifts. While revenue in Euro terms grew by only 0.2% for the quarter, adjusted EBITDA climbed to €37.8 million, up from €30.5 million in Q2 2025. However, standard EBITDA fell to €27.7 million, a decline driven by a €12 million surge in share-based payment costs compared to the previous year.

Profitability metrics fluctuated across the first half of 2026. Nagarro reported a net profit of €29.8 million for H1, a significant jump from the €19.6 million recorded in the first half of 2025. This bottom-line improvement was bolstered by the absence of withholding tax expenses on intra-group dividends. On the operational front, the firm is successfully scaling its high-value accounts, with the number of clients generating over €1 million in annual revenue reaching 184 as of June 30, up from 179 three months prior. Cash flow saw a sharp quarterly turnaround, rising to €29.8 million from a sparse €4.9 million in the second quarter of 2025, supported by improved collections and lower tax outflows.