Nagarro Se (NGRRF) Q1 2025 Earnings Call

Investor webinar replay

Watch the replay and follow the connected company analysis, news, and investor updates for Nagarro Se.

Watch the replay

Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:02.675 Thanks everybody for joining this call. 00:00:02.675 -- 00:00:07.702 From past experience, we know that a lot of you have also joined the previous call 00:00:07.702 -- 00:00:12.789 that we have, the earnings call. So as in past earnings 00:00:12.789 -- 00:00:17.936 calls, we will keep this a little brief by way of presentation and open up more time 00:00:17.936 -- 00:00:23.203 for Q&A. So with that, maybe we just go straight into quarter 00:00:23.203 -- 00:00:28.391 one and the results of quarter one. We have revenue of 247 million Euro and 00:00:28.391 -- 00:00:34.774 adjusted EBITDA of €30.2 million, which is an adjusted EBITDA margin of 12.2%. 00:00:34.774 -- 00:00:39.278 And as I said on the earnings call, the performance is in fact a little better than it 00:00:39.278 -- 00:00:41.560 looks for a couple of reasons. 00:00:41.560 -- 00:00:45.263 One, we have a few million of deferred revenue from this quarter. 00:00:45.263 -- 00:00:50.408 What we call deferred revenue is when we have done the work, but the contracting 00:00:50.408 -- 00:00:55.092 isn't completed, maybe because the client is in a hurry to move forward with the work, 00:00:55.092 -- 00:00:59.633 but we're not ready to invoice it and not ready to book revenue yet. 00:00:59.633 -- 00:01:04.939 This is not unusual in our business, but our deferred revenue has gone from about 2 00:01:04.939 -- 00:01:09.723 million at year end in December 31st, 2024, 00:01:09.785 -- 00:01:11.808 all the way up to 5.5 00:01:11.808 -- 00:01:16.854 million at the end of Q1. So the delta is an amount that if we 00:01:16.854 -- 00:01:21.660 actually had recognized that, that would bolster both the top line and drop directly 00:01:21.660 -- 00:01:26.746 to the bottom line. We also have signif...