UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2024
Commission File Number 001-36535
GLOBANT
S.A.
(Translation of registrant's name into English)
37A, Avenue J.F. Kennedy
L-1855, Luxembourg
Tel: + 352 20 30 15 96
(Address of principal executive office)
Indicate by check mark whether the
registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
x Form 20-F ¨ Form 40-F
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
GLOBANT S.A.
FORM 6-K
Globant S.A. (the “Company”) is furnishing
under the cover of Form 6-K the following:
Earnings Release
Incorporation by Reference
The unaudited condensed interim consolidated statements
of comprehensive income, unaudited condensed interim consolidated statements of financial position, unaudited selected cash flow data,
unaudited supplemental non-IFRS financial information and unaudited schedule of supplemental information contained in the press release
attached as Exhibit 99.1 to this report on Form 6-K are hereby incorporated by reference into the Company’s registration statements
on Form S-8 (File Nos. 333-201602, 333-211835, 333-232022, 333-255113, 333-266204 and 333-281049), to be a part thereof from the date
on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.
Signatures
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
| |
GLOBANT
S.A. |
| |
|
| |
|
| |
By: |
/s/
JUAN URTHIAGUE |
| |
|
Name: |
Juan
Urthiague |
| |
|
Title: |
Chief
Financial Officer |
Date: August 15, 2024
Exhibit 99.1
August 15, 2024
Globant Reports
2024 Second Quarter Financial Results
Growth Outlook Remains Strong, Executing on Profitability
| ● | Second quarter revenues of $587.5 million, up 18.1% year-over-year |
| ● | IFRS Diluted EPS of $0.87 for the second quarter |
| ● | Non-IFRS Adjusted Diluted EPS of $1.51 for the second quarter |
LUXEMBOURG / August 15, 2024 - Globant (NYSE:
GLOB), a digitally native company focused on reinventing businesses through innovative technology solutions, today announced results for
the three and six months ended June 30, 2024.
Please see highlights below. Note that reconciliations
between IFRS and Non-IFRS financial measures are disclosed at the end of this press release.
Second Quarter 2024 Financial Highlights
| ● | Revenues rose to $587.5 million, representing 18.1% year-over-year growth. |
| ● | IFRS Gross Profit Margin was 35.7% compared to 36.3% in the second quarter of 2023. |
| ● | Non-IFRS Adjusted Gross Profit Margin was 38.1% compared to 38.3% in the second quarter of 2023. |
| ● | IFRS Profit from Operations Margin was 9.2% compared to 9.4% in the second quarter of 2023. |
| ● | Non-IFRS Adjusted Profit from Operations Margin was 15.1% compared to 15.0% in the second quarter of 2023. |
| ● | IFRS Diluted EPS was $0.87 compared to $0.85 in the second quarter of 2023. |
| ● | Non-IFRS Adjusted Diluted EPS was $1.51 compared to $1.36 in the second quarter of 2023. |
Six months ended June 30, 2024 Financial Highlights
| ● | Revenues rose to $1,158.5 million, representing 19.4% year-over-year growth. |
| ● | IFRS Gross Profit Margin was 35.5% compared to 36.0% in the first six months of 2023. |
| ● | Non-IFRS Adjusted Gross Profit Margin was 38.0% compared to 38.2% in the first six months of 2023. |
| ● | IFRS Profit from Operations Margin was 8.8% compared to 9.4% in the first six months of 2023. |
| ● | Non-IFRS Adjusted Profit from Operations Margin was 15.0% compared to 15.0% in the first six months of
2023. |
| ● | IFRS Diluted EPS was $1.89 compared to $1.70 in the first six months of 2023. |
| ● | Non-IFRS Adjusted Diluted EPS was $3.04 compared to $2.64 in the first six months of 2023. |
Other Metrics as of and for the quarter ended June 30, 2024
| ● | Cash and cash equivalents and Short-term investments were $180.4 million as of June 30, 2024, a decrease
of $142.9 million from $323.3 million as of December 31, 2023, driven mainly by payments of bonuses, investments in our platform
business, partial repayment of our credit facility and a number of M&A earnout payments. As of June 30, 2024, we had a total amount
of $125 million drawn from our credit facility. |
| ● | Globant completed the second quarter of 2024 with 29,112 Globers, 27,133 of whom were technology, design
and innovation professionals. |
| ● | The geographic revenue breakdown for the second quarter of 2024 was as follows: 56.3% from North America
(top country: US), 23.0% from Latin America (top country: Argentina), 16.9% from Europe (top country: Spain) and 3.8% from New Markets1
(top country: Saudi Arabia). |
| ● | Globant’s top customer, top five customers and top ten customers for the second quarter of 2024
represented 8.3%, 21.0% and 30.3% of revenues, respectively. |
| ● | During the twelve months ended June 30, 2024, Globant served a total of 958 customers (with revenues over
$100,000 in the last twelve months) and continued to increase its wallet share, with 329 accounts generating more than $1 million of annual
revenues, compared to 283 for the same period one year ago. |
| ● | In terms of currencies, 67.1% of Globant’s revenues for the second quarter of 2024 were denominated
in US dollars. |
“As we celebrate our tenth anniversary as
a public company, Globant remains steadfast in its commitment to long-term growth and industry leadership. Our recent quarterly results
demonstrate robust revenue growth and strong performance across all regions and verticals, particularly in media, sports, and entertainment.
Our AI-related revenues have significantly grown by nearly 130% in the first half of 2024, underscoring our pivotal role in the ongoing
AI revolution. With the unveiling of our AI agents, which enhance the software development life cycle, and the introduction of the Globant
GUT Network at the Cannes Lions International Festival of Creativity, we are poised to meet the growing demands for AI-based solutions
across the global economy. Our entrepreneurial and innovative mindset continues to drive us forward, fostering lasting client relationships
and delivering exceptional shareholder returns,” said Martín Migoya, Globant’s CEO and co-founder. “As we look
ahead, we are optimistic about our record-high pipeline and the transformative potential of generative AI to shape the future of our industry.”
“We are very proud of the results today,
which reflect our strong execution. This quarter, we achieved revenues of $587.5 million, up 18.1% year-over-year, driven by a broad-based
performance. Our ability to maintain high profitability, despite the challenging economic environment, is a reflection of our operational
efficiency. As we look ahead, we are maintaining a strong growth outlook for the remainder of the year. This is supported by our continued
expansion across different regions and our investments in broadening our service offering. Additionally, the increase in AI-related revenues
is translating into tangible revenue growth for Globant. We remain encouraged by the opportunities ahead for the company, and are committed
to delivering industry leading growth and profitability,” explained Juan Urthiague, Globant’s CFO.
2024
Third Quarter and Full Year Outlook
Based on
current market conditions, Globant is providing the following estimates for the third quarter and the full year of 2024:
| ● | Third quarter 2024 Revenues are estimated to be in the range of $611.0 million to $617.0 million, or 12.1%
to 13.2% year-over-year growth. |
| ● | Third quarter 2024 Non-IFRS Adjusted Profit from Operations Margin is estimated to be in the range of
15.0% to 16.0%. |
| ● | Third quarter 2024 Non-IFRS Adjusted Diluted EPS is estimated to be in the range of $1.60 to $1.64 (assuming
an average of 44.4 million diluted shares outstanding during the third quarter). |
| ● | Fiscal year 2024 Revenues are estimated to be in the range of $2,407.0 million to $2,421.0 million, implying
a 14.8% to 15.5% year-over-year revenue growth. |
| ● | Fiscal year 2024 Non-IFRS Adjusted Profit from Operations Margin is estimated to be in the range of 15.0%
to 15.5%. |
| ● | Fiscal year 2024 Non-IFRS Adjusted Diluted EPS is estimated to be in the range of $6.30 to $6.50 (assuming
an average of 44.3 million diluted shares outstanding during 2024). |
1
Represents Asia, Oceania and the Middle East.
Conference Call and Webcast
Martin Migoya, Globant’s CEO and co-founder,
Juan Urthiague, Globant’s CFO, Patricia Pomies, Globant’s COO, and Diego Tártara, Globant’s CTO, will discuss
the second quarter 2024 results in a video conference call today beginning at 4:30pm ET.
Video conference call access information is:
https://more.globant.com/F2Q24EarningsCall
Webcast http://investors.globant.com/
About Globant (NYSE:GLOB)
At Globant, we create the digitally-native products
that people love. We bridge the gap between businesses and consumers through technology and creativity, leveraging our expertise in AI.
We dare to digitally transform organizations and strive to delight their customers.
We have more than 29,100 employees and we are
present in more than 30 countries across 5 continents working for companies like Google, Electronic Arts and Santander, among others.
We were named a Worldwide Leader in CX Improvement
by IDC MarketScape report. We were also featured as a business case study at Harvard, MIT and Stanford. We are a member of the Cybersecurity
Tech Accord.
For more information, please visit www.globant.com
Non-IFRS Financial Measures
While the financial figures included in this press
release have been computed in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International
Accounting Standards Board (“IASB”), applicable to interim periods, this announcement does not contain sufficient information
to constitute an interim financial report as defined in International Accounting Standards 34, “Interim Financial Reporting”
nor a financial statement as defined by International Accounting Standards 1 “Presentation of Financial Statements”. The financial
information in this press release has not been audited.
Globant provides non-IFRS financial measures in
addition to reported IFRS results prepared in accordance with IFRS. Management believes these measures help illustrate underlying trends
in the company’s business and uses the non-IFRS financial measures to establish budgets and operational goals, communicated internally
and externally, for managing the company’s business and evaluating its performance. The company anticipates that it will continue
to report both IFRS and certain non-IFRS financial measures in its financial results, including non-IFRS measures that exclude share-based
compensation expense, depreciation and amortization, acquisition-related charges, and the related effect on income taxes of the pre-tax
adjustments. Because the company’s non-IFRS financial measures are not calculated according to IFRS, these measures are not comparable
to IFRS and may not necessarily be comparable to similarly described non-IFRS measures reported by other companies within the company’s
industry. Consequently, Globant’s non-IFRS financial measures should not be evaluated in isolation or supplant comparable IFRS measures,
but, rather, should be considered together with its condensed interim consolidated statements of financial position as of June 30, 2024
and December 31, 2023 and its condensed interim consolidated statements of comprehensive income for the three and six months ended June
30, 2024 and 2023, prepared in accordance with International Accounting Standard (“IAS”) 34, “Interim Financial Reporting”.
Globant is not providing a quantitative reconciliation
of forward-looking Non-IFRS Adjusted Profit from Operations Margin or Non-IFRS Adjusted Diluted EPS to the most directly comparable IFRS
measure because it is unable to predict with reasonable certainty the ultimate outcome of certain significant items without unreasonable
effort. These items include, but are not limited to, share-based compensation expense, acquisition-related charges, and the tax effect
of non-IFRS adjustments. These items are uncertain, depend on various factors, and could have a material impact on IFRS reported results
for the guidance period.
Forward Looking Statements
In addition to historical information, this release
contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In some
cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “will,”
“estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,”
“expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. These
statements include, but are not limited to, statements regarding our future financial and operating performance, including our outlook
and guidance, and our strategies, priorities and business plans. Our expectations and beliefs regarding these matters may not materialize,
and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from
those projected. Factors that could impact our actual results include: our ability to maintain current resource utilization rates and
productivity levels; our ability to manage attrition and attract and retain highly-skilled IT professionals; our ability to accurately
price our client contracts; our ability to achieve our anticipated growth; our ability to effectively manage our rapid growth; our ability
to retain our senior management team and other key employees; our ability to continue to innovate and remain at the forefront of emerging
technologies and related market trends; our ability to retain our business relationships and client contracts; our ability to manage the
impact of global adverse economic conditions; our ability to manage uncertainty concerning the instability in the current economic, political
and social environment in Latin America; and other factors discussed under the heading “Risk Factors” in our most recent Form
20-F filed with the U.S. Securities and Exchange Commission and any other risk factors we include in subsequent reports on Form 6-K.
Because of these uncertainties, you should not
make any investment decisions based on our estimates and forward-looking statements. Except as required by law, we undertake no obligation
to publicly update any forward-looking statements for any reason after the date of this press release whether as a result of new information,
future events or otherwise.
Globant S.A.
Condensed Interim Consolidated Statements of
Comprehensive Income
(In thousands of U.S. dollars, except per share
amounts, unaudited)
| | |
Six Months Ended | | |
Three Months Ended | |
| | |
June 30, 2024 | | |
June 30, 2023 | | |
June 30, 2024 | | |
June 30, 2023 | |
| Revenues | |
| 1,158,539 | | |
| 969,952 | | |
| 587,461 | | |
| 497,531 | |
| Cost of revenues | |
| (746,769 | ) | |
| (620,814 | ) | |
| (377,912 | ) | |
| (316,690 | ) |
| Gross profit | |
| 411,770 | | |
| 349,138 | | |
| 209,549 | | |
| 180,841 | |
| | |
| | | |
| | | |
| | | |
| | |
| Selling, general and administrative expenses | |
| (306,699 | ) | |
| (247,533 | ) | |
| (154,585 | ) | |
| (128,176 | ) |
| Net impairment losses on financial assets | |
| (5,327 | ) | |
| (11,358 | ) | |
| (3,162 | ) | |
| (6,641 | ) |
| Other operating income and expenses, net | |
| 1,961 | | |
| 614 | | |
| 1,961 | | |
| 614 | |
| Profit from operations | |
| 101,705 | | |
| 90,861 | | |
| 53,763 | | |
| 46,638 | |
| | |
| | | |
| | | |
| | | |
| | |
| Finance income | |
| 2,527 | | |
| 2,176 | | |
| 1,402 | | |
| 941 | |
| Finance expense | |
| (13,502 | ) | |
| (9,402 | ) | |
| (6,233 | ) | |
| (5,230 | ) |
| Other financial results, net | |
| 5,606 | | |
| 8,429 | | |
| 532 | | |
| 4,667 | |
| Financial results, net | |
| (5,369 | ) | |
| 1,203 | | |
| (4,299 | ) | |
| 378 | |
| | |
| | | |
| | | |
| | | |
| | |
| Share of results of investment in associates | |
| 56 | | |
| 15 | | |
| 70 | | |
| (41 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Other income and expenses, net | |
| 10,606 | | |
| 1,301 | | |
| 595 | | |
| (186 | ) |
| Profit before income tax | |
| 106,998 | | |
| 93,380 | | |
| 50,129 | | |
| 46,789 | |
| | |
| | | |
| | | |
| | | |
| | |
| Income tax | |
| (23,044 | ) | |
| (20,089 | ) | |
| (10,104 | ) | |
| (9,883 | ) |
| Net income for the period | |
| 83,954 | | |
| 73,291 | | |
| 40,025 | | |
| 36,906 | |
| Other comprehensive income, net of income tax effects | |
| | | |
| | | |
| | | |
| | |
| Items that may be reclassified subsequently to profit and loss: | |
| | | |
| | | |
| | | |
| | |
| - Exchange differences on translating foreign operations | |
| (43,013 | ) | |
| 1,252 | | |
| (24,405 | ) | |
| (1,489 | ) |
| - Net change in fair value on financial assets measured at FVOCI | |
| 1,019 | | |
| (2,331 | ) | |
| 894 | | |
| (2,356 | ) |
| - Gains and losses on cash flow hedges | |
| (13,133 | ) | |
| 3,879 | | |
| (4,378 | ) | |
| (327 | ) |
| Total comprehensive income for the period | |
| 28,827 | | |
| 76,091 | | |
| 12,136 | | |
| 32,734 | |
| | |
| | | |
| | | |
| | | |
| | |
| Net income attributable to: | |
| | | |
| | | |
| | | |
| | |
| Owners of the Company | |
| 83,718 | | |
| 73,412 | | |
| 38,658 | | |
| 36,993 | |
| Non-controlling interest | |
| 236 | | |
| (121 | ) | |
| 1,367 | | |
| (87 | ) |
| Net income for the period | |
| 83,954 | | |
| 73,291 | | |
| 40,025 | | |
| 36,906 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total comprehensive income for the period attributable to: | |
| | | |
| | | |
| | | |
| | |
| Owners of the Company | |
| 30,598 | | |
| 75,027 | | |
| 11,589 | | |
| 32,898 | |
| Non-controlling interest | |
| (1,771 | ) | |
| 1,064 | | |
| 547 | | |
| (164 | ) |
| Total comprehensive income for the period | |
| 28,827 | | |
| 76,091 | | |
| 12,136 | | |
| 32,734 | |
| | |
| | | |
| | | |
| | | |
| | |
| Earnings per share | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| 1.94 | | |
| 1.73 | | |
| 0.89 | | |
| 0.87 | |
| Diluted | |
| 1.89 | | |
| 1.70 | | |
| 0.87 | | |
| 0.85 | |
| Weighted average of outstanding shares (in thousands) | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| 43,172 | | |
| 42,362 | | |
| 43,244 | | |
| 42,426 | |
| Diluted | |
| 44,220 | | |
| 43,309 | | |
| 44,292 | | |
| 43,373 | |
Globant S.A.
Condensed Interim
Consolidated Statements of Financial Position as of June 30, 2024 and December 31, 2023
(In thousands of U.S. dollars, unaudited)
| | |
June
30, 2024 | | |
December
31, 2023 | |
| ASSETS | |
| | | |
| | |
| Current
assets | |
| | | |
| | |
| Cash and cash equivalents | |
| 157,629 | | |
| 307,223 | |
| Investments | |
| 22,736 | | |
| 16,070 | |
| Trade receivables | |
| 578,819 | | |
| 499,283 | |
| Other assets | |
| 25,312 | | |
| 31,753 | |
| Other receivables | |
| 64,745 | | |
| 54,786 | |
| Other financial assets | |
| 4,338 | | |
| 15,418 | |
| Total current
assets | |
| 853,579 | | |
| 924,533 | |
| | |
| | | |
| | |
| Non-current
assets | |
| | | |
| | |
| Investments | |
| 2,115 | | |
| 1,833 | |
| Other assets | |
| 4,973 | | |
| 4,088 | |
| Other receivables | |
| 26,243 | | |
| 26,475 | |
| Deferred tax assets | |
| 59,763 | | |
| 60,777 | |
| Investment in associates | |
| 1,482 | | |
| 1,426 | |
| Other financial assets | |
| 37,008 | | |
| 34,864 | |
| Property and equipment | |
| 151,873 | | |
| 162,736 | |
| Intangible assets | |
| 284,518 | | |
| 285,661 | |
| Right-of-use assets | |
| 120,676 | | |
| 119,400 | |
| Goodwill | |
| 1,076,761 | | |
| 1,105,073 | |
| Total non-current
assets | |
| 1,765,412 | | |
| 1,802,333 | |
| TOTAL ASSETS | |
| 2,618,991 | | |
| 2,726,866 | |
| | |
| | | |
| | |
| LIABILITIES | |
| | | |
| | |
| Current
liabilities | |
| | | |
| | |
| Trade payables | |
| 101,251 | | |
| 124,545 | |
| Payroll and social security taxes payable | |
| 191,950 | | |
| 221,843 | |
| Borrowings | |
| 125,605 | | |
| 156,916 | |
| Other financial liabilities | |
| 67,659 | | |
| 68,750 | |
| Lease liabilities | |
| 31,809 | | |
| 47,852 | |
| Tax liabilities | |
| 25,797 | | |
| 33,229 | |
| Income tax payable | |
| 5,565 | | |
| 11,287 | |
| Other liabilities | |
| 1,611 | | |
| 896 | |
| Total current
liabilities | |
| 551,247 | | |
| 665,318 | |
| | |
| | | |
| | |
| Non-current
liabilities | |
| | | |
| | |
| Trade payables | |
| 3,173 | | |
| 2,981 | |
| Borrowings | |
| 1,777 | | |
| 2,191 | |
| Other financial liabilities | |
| 91,070 | | |
| 135,238 | |
| Lease liabilities | |
| 84,205 | | |
| 70,884 | |
| Deferred tax liabilities | |
| 19,861 | | |
| 21,098 | |
| Income tax payable | |
| 4,372 | | |
| — | |
| Payroll and social security taxes payable | |
| 3,470 | | |
| 5,139 | |
| Provisions for contingencies | |
| 20,718 | | |
| 28,336 | |
| Total non-current
liabilities | |
| 228,646 | | |
| 265,867 | |
| TOTAL LIABILITIES | |
| 779,893 | | |
| 931,185 | |
| | |
| | | |
| | |
| Capital and reserves | |
| | | |
| | |
| Issued capital | |
| 52,039 | | |
| 51,705 | |
| Additional paid-in capital | |
| 1,041,459 | | |
| 1,022,918 | |
| Other reserves | |
| (95,168 | ) | |
| (42,048 | ) |
| Retained earnings | |
| 780,807 | | |
| 697,089 | |
| Total equity attributable to owners of the Company | |
| 1,779,137 | | |
| 1,729,664 | |
| Non-controlling interests | |
| 59,961 | | |
| 66,017 | |
| Total equity | |
| 1,839,098 | | |
| 1,795,681 | |
| TOTAL EQUITY
AND LIABILITIES | |
| 2,618,991 | | |
| 2,726,866 | |
Globant S.A.
Selected Cash Flow Data
(In thousands of U.S. dollars, unaudited)
| | |
Three Months Ended | |
| | |
June 30, 2024 | | |
June 30, 2023 | |
| Net Income for the period | |
| 40,025 | | |
| 36,906 | |
| Non-cash adjustments, taxes and others | |
| 41,788 | | |
| 61,928 | |
| Changes in working capital | |
| (71,646 | ) | |
| (62,444 | ) |
| Cash flows from operating activities | |
| 10,167 | | |
| 36,390 | |
| Capital expenditures | |
| (38,155 | ) | |
| (27,822 | ) |
| Cash flows from investing activities | |
| (60,656 | ) | |
| (35,510 | ) |
| Cash flows from financing activities | |
| (17,514 | ) | |
| (13,256 | ) |
| Net decrease in cash & cash equivalents | |
| (68,003 | ) | |
| (12,376 | ) |
Globant S.A.
Supplemental Non-IFRS Financial Information
(In thousands of U.S. dollars, unaudited)
| | |
Six Months Ended | | |
Three Months Ended | |
| | |
June 30, 2024 | | |
June 30, 2023 | | |
June 30, 2024 | | |
June 30, 2023 | |
| Reconciliation of adjusted gross profit | |
| | | |
| | | |
| | | |
| | |
| Gross profit | |
| 411,770 | | |
| 349,138 | | |
| 209,549 | | |
| 180,841 | |
| Depreciation and amortization expense | |
| 15,958 | | |
| 13,033 | | |
| 8,525 | | |
| 6,601 | |
| Share-based compensation expense - Equity settled | |
| 12,901 | | |
| 8,778 | | |
| 5,759 | | |
| 3,188 | |
| Adjusted gross profit | |
| 440,629 | | |
| 370,949 | | |
| 223,833 | | |
| 190,630 | |
| Adjusted gross profit margin | |
| 38.0 | % | |
| 38.2 | % | |
| 38.1 | % | |
| 38.3 | % |
| | |
| | | |
| | | |
| | | |
| | |
| Reconciliation of selling, general and administrative expenses | |
| | | |
| | | |
| | | |
| | |
| Selling, general and administrative expenses | |
| (306,699 | ) | |
| (247,533 | ) | |
| (154,585 | ) | |
| (128,176 | ) |
| Depreciation and amortization expense | |
| 50,507 | | |
| 40,489 | | |
| 25,442 | | |
| 20,710 | |
| Share-based compensation expense - Equity settled | |
| 26,714 | | |
| 24,995 | | |
| 14,399 | | |
| 13,865 | |
| Acquisition-related charges (a) | |
| 15,584 | | |
| 9,118 | | |
| 5,986 | | |
| 4,570 | |
| Adjusted selling, general and administrative expenses | |
| (213,894 | ) | |
| (172,931 | ) | |
| (108,758 | ) | |
| (89,031 | ) |
| Adjusted selling, general and administrative expenses as % of revenues | |
| (18.5 | )% | |
| (17.8 | )% | |
| (18.5 | )% | |
| (17.9 | )% |
| | |
| | | |
| | | |
| | | |
| | |
| Reconciliation of adjusted profit from operations | |
| | | |
| | | |
| | | |
| | |
| Profit from operations | |
| 101,705 | | |
| 90,861 | | |
| 53,763 | | |
| 46,638 | |
| Share-based compensation expense - Equity settled | |
| 39,615 | | |
| 33,773 | | |
| 20,158 | | |
| 17,053 | |
| Acquisition-related charges (a) | |
| 32,880 | | |
| 21,142 | | |
| 14,736 | | |
| 10,727 | |
| Adjusted profit from operations | |
| 174,200 | | |
| 145,776 | | |
| 88,657 | | |
| 74,418 | |
| Adjusted profit from operations margin | |
| 15.0 | % | |
| 15.0 | % | |
| 15.1 | % | |
| 15.0 | % |
| | |
| | | |
| | | |
| | | |
| | |
| Reconciliation of net income for the period | |
| | | |
| | | |
| | | |
| | |
| Net income for the period | |
| 83,718 | | |
| 73,412 | | |
| 38,658 | | |
| 36,993 | |
| Share-based compensation expense - Equity settled | |
| 39,425 | | |
| 33,749 | | |
| 20,077 | | |
| 17,029 | |
| Acquisition-related charges (a) | |
| 26,380 | | |
| 20,761 | | |
| 16,440 | | |
| 10,889 | |
| Tax effect of non-IFRS adjustments | |
| (15,117 | ) | |
| (13,660 | ) | |
| (8,313 | ) | |
| (6,053 | ) |
| Adjusted net income | |
| 134,406 | | |
| 114,262 | | |
| 66,862 | | |
| 58,858 | |
| Adjusted net income margin | |
| 11.6 | % | |
| 11.8 | % | |
| 11.4 | % | |
| 11.8 | % |
| | |
| | | |
| | | |
| | | |
| | |
| Calculation of adjusted diluted EPS | |
| | | |
| | | |
| | | |
| | |
| Adjusted net income | |
| 134,406 | | |
| 114,262 | | |
| 66,862 | | |
| 58,858 | |
| Diluted shares | |
| 44,220 | | |
| 43,309 | | |
| 44,292 | | |
| 43,373 | |
| Adjusted diluted EPS | |
| 3.04 | | |
| 2.64 | | |
| 1.51 | | |
| 1.36 | |
| (a) | Acquisition-related charges include, when applicable, amortization of purchased intangible assets included
in depreciation and amortization expense line on our consolidated statements of comprehensive income, interest charges on acquisition-related
indebtedness, external deal costs, acquisition-related retention bonuses, integration costs, changes in the fair value of contingent consideration
liabilities, and other acquisition-related costs. We cannot provide acquisition-related charges on a forward-looking basis without unreasonable
effort as such charges may fluctuate based on the timing, size, and complexity of future acquisitions as well as other uncertainty inherent
in mergers and acquisitions. |
Globant S.A.
Schedule of Supplemental Information (unaudited)
| Metrics | |
Q2 2023 | | |
Q3 2023 | | |
Q4 2023 | | |
Q1 2024 | | |
Q2 2024 | |
| Total Employees | |
| 25,947 | | |
| 27,505 | | |
| 29,150 | | |
| 28,991 | | |
| 29,112 | |
| IT Professionals | |
| 24,163 | | |
| 25,575 | | |
| 27,116 | | |
| 26,933 | | |
| 27,133 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| North America Revenues % | |
| 60.6 | | |
| 58.9 | | |
| 57.4 | | |
| 56.0 | | |
| 56.3 | |
| Latin America Revenues % | |
| 22.0 | | |
| 21.6 | | |
| 22.9 | | |
| 22.9 | | |
| 23.0 | |
| Europe Revenues % | |
| 13.8 | | |
| 15.9 | | |
| 15.8 | | |
| 17.2 | | |
| 16.9 | |
| New Markets Revenues % | |
| 3.6 | | |
| 3.6 | | |
| 3.9 | | |
| 3.9 | | |
| 3.8 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| USD Revenues % | |
| 73.9 | | |
| 72.5 | | |
| 68.6 | | |
| 68.4 | | |
| 67.1 | |
| Other Currencies Revenues % | |
| 26.1 | | |
| 27.5 | | |
| 31.4 | | |
| 31.6 | | |
| 32.9 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Top Customer % | |
| 8.8 | | |
| 8.7 | | |
| 8.2 | | |
| 8.3 | | |
| 8.3 | |
| Top 5 Customers % | |
| 23.7 | | |
| 22.5 | | |
| 21.4 | | |
| 21.8 | | |
| 21.0 | |
| Top 10 Customers % | |
| 33.3 | | |
| 32.2 | | |
| 30.8 | | |
| 30.1 | | |
| 30.3 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Customers Served (Last Twelve Months)* | |
| 835 | | |
| 889 | | |
| 930 | | |
| 955 | | |
| 958 | |
| Customers with >$1M in Revenues (Last Twelve Months) | |
| 283 | | |
| 305 | | |
| 311 | | |
| 318 | | |
| 329 | |
(*) Represents customers with more than $100,000
in revenues in the last twelve months.
Investor Relations Contact:
Arturo Langa, Globant
investors@globant.com
+1 (877) 215-5230
Media Contact:
Wanda Weigert, Globant
pr@globant.com
+1 (877) 215-5230
Source: Globant
Grafico Azioni Globant (NYSE:GLOB)
Storico
Da Ott 2024 a Nov 2024
Grafico Azioni Globant (NYSE:GLOB)
Storico
Da Nov 2023 a Nov 2024
