October 14th, 2025 — It’s an exciting time for NRD Companies, the global software development and consulting group based in Vilnius, Lithuania. Known for its specialization in governance and economic digital infrastructure, NRD Companies has just announced its financial results for the first half of 2025. The figures tell a tale of growth and resilience, with consolidated revenue hitting €5.58 million—an impressive 11% increase compared to the same period last year.
Despite a slight dip in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) by 4%, there’s good news on the horizon. The second quarter saw a notable rebound with profit margins rising to 13%, significantly up from just 7% in the first quarter. The year-on-year comparison shows that revenues advanced by 17% and EBITDA grew by 24% in Q2, highlighting the strong demand for NRD’s diversified offerings.
Mindaugas Glodas, the CEO of NRD Companies, expressed pride in these results, stating, “Our performance in the first half of 2025 highlights the scalability of our solutions and the resilience of our business model.” He emphasized the global appetite for NRD’s products and services, which span across continents including Europe, Africa, the Caribbean, and Southeast Asia. This international reach positions NRD as a trusted partner in digital transformation initiatives.
Digging deeper into sector performance, it’s clear that not all segments are created equal. The Tax Administration and Government sectors experienced remarkable growth, reporting increases of 33% and 43%, respectively. Meanwhile, the Retail sector maintained its strong momentum, and the Finance sector held steady. However, the Registers business line faced some cyclical softness. This pattern underscores the robustness of NRD’s diversified portfolio, allowing it to weather downturns in specific areas.
Throughout the first half of 2025, NRD Companies was actively engaged in 45 development and consultancy projects spanning 22 countries. This impressive engagement illustrates not just their capability in delivering repeatable solutions but also the significant trust governments and international institutions place in NRD.
In Lesotho, NRD has been groundbreaking in advancing an e-Invoicing and e-Filing platform in collaboration with the Revenue Services Lesotho and the African Development Bank. They are also supporting the Ministry of Information, Communications, Science, Technology & Innovation in establishing crucial frameworks for broadband and artificial intelligence. This commitment places NRD Companies at the forefront of national policy development and infrastructure modernization.
In Zimbabwe, NRD is implementing a Virtual Fiscalization Data Management System for the Zimbabwe Revenue Authority. This new approach is set to revolutionize the country’s tax infrastructure, enabling real-time monitoring and data-driven management. Meanwhile, in Belize, the group is enhancing the Digital Civil Registry System, aimed at improving service delivery for citizens. And in Southeast Asia, they successfully launched a nationwide Electronic Business Registration System in Lao PDR, which simplifies business processes and boosts the investment climate.
Back in Europe, NRD’s influence continues to grow as they implement the ‘Mano Muitinė’ Customs Services Portal for Lithuania’s Customs Department. This flagship initiative is set to unify and modernize customs services, providing a self-service platform for all administrative needs.
Beyond their projects, NRD Companies has been proactive in strengthening its brand reputation on global platforms. Participating in major events like the World Bank Global Digital Summit and the E-Governance Conference, it has championed discussions on resilient digital governance frameworks. Such engagement not only showcases NRD’s thought leadership but also enhances its visibility among strategic markets.
Looking back at 2024, NRD Companies reported a consolidated revenue of €10.0 million, a slight decline from €11.0 million in 2023, primarily due to decreased hardware sales, which are not in line with the group’s strategic focus. However, revenues from core activities—software development and consultancy—still grew by 4%, and gross profit increased by 6%. These insights reflect NRD’s strategic pivot towards higher-value, scalable service lines, signaling a resilient business posture.
About NRD Companies
NRD Companies is a forward-thinking IT and consulting group that specializes in governance and economic digital infrastructure development. Founded in Norway and headquartered in Lithuania, the group operates primarily in the GovTech and FinTech sectors. With nearly three decades of experience, NRD Companies has accomplished numerous strategic projects across five continents, aligning with the UN Sustainable Development Goals (SDGs) through inclusive digital transformations.
For additional details, please contact the authorized spokesperson:
Kazimieras Tonkūnas
Managing Partner, INVL Technology
E-mail: k.tonkunas@invltechnology.lt
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