Persistent Systems Reports 20% Revenue Growth, Advances Nagarro Acquisition

Persistent Systems reported its financial results for the second quarter of fiscal year 2027, ending September 30, 2026. The company's revenue reached $487.6 million, representing a 20.0% increase compared to the same period last year and a 7.8% rise from the previous quarter. This marks the 26th consecutive quarter of sequential revenue growth.

The company has made substantial progress towards its acquisition of Nagarro, having secured approximately 94.04% of Nagarro's share capital and voting rights. Persistent also received shareholder approval for an equity raise of up to $450 million to support the transaction, which aims to enhance engineering capabilities and global delivery. The acquisition is a key part of the company's long-term M&A strategy.

Persistent highlighted its ongoing focus on strengthening AI capabilities and developing "Enterprise Context" within client environments. This strategy involves leveraging AI-driven platforms and models to deliver evolving value and support digital transformation initiatives across various industries.

For the quarter, Persistent secured $633.5 million in Total Contract Value (TCV) and $481.0 million in Annual Contract Value (ACV). These wins span sectors including software, hi-tech, banking, financial services, insurance, and healthcare, demonstrating the company's ability to secure new business and deliver complex solutions.