US Market News
1月前
Globant Reports 2026 First Quarter Financial ResultsMay 14, 2026 4:15 PM
PR Newswire (US) LUXEMBOURG, May 14, 2026 /PRNewswire/ -- Globant (NYSE: GLOB) today announced results for the three months ended March 31, 2026. "Globant's mission is to reinvent how technology is created, and today we are leading one of the most significant pivots in our history toward AI-native tech services as the market shifts from experimentation to deep AI implementation. Our AI Pods are the engine of this transformation, with ARR reaching $32.8 million as of March 2026. We are moving beyond the traditional 'seats' model by becoming the AI-native partner that collapses the boundary between software and services, redefining what it means to be a professional services firm in the AI era," explained Martín Migoya, Globant's CEO and co-founder."We have begun the year with a focus on stability and execution, seeing the early benefits of our pivot toward AI-integrated delivery. Our first-quarter revenue exceeded the high end of our guidance, bolstered by the growth of our top clients. By driving Revenue Per Head to company record levels, we are proving we can deliver higher value with greater efficiency. Furthermore, we demonstrated strong financial health by generating $36.1 million in free cash flow. Having successfully completed our previous share repurchase program during Q2, we are pleased to announce a new $125 million plan to continue returning value to our shareholders. As we look ahead, we remain focused on maintaining this discipline to capture the opportunities in our pipeline," explained Juan Urthiague, Globant's CFO.Please see highlights below. Note that reconciliations between IFRS and Non-IFRS financial measures are disclosed at the end of this press release.First Quarter 2026 Financial HighlightsRevenues were $607.1 million, exceeding the company's guidance and representing 0.7% year-over-year decline.IFRS Gross Profit Margin was 34.5% compared to 34.9% in the first quarter of 2025.Non-IFRS Adjusted Gross Profit Margin was 37.0% compared to 38.0% in the first quarter of 2025.IFRS Profit from Operations Margin was 8.5% compared to 8.2% in the first quarter of 2025.Non-IFRS Adjusted Profit from Operations Margin was 14.1% compared to 14.8% in the first quarter of 2025.IFRS Diluted EPS was $0.85 compared to $0.68 in the first quarter of 2025.Non-IFRS Adjusted Diluted EPS was $1.50 compared to $1.50 in the first quarter of 2025.Other Financial Highlights as of and for the quarter ended March 31, 2026Cash and cash equivalents and Short-term investments were $200.5 million as of March 31, 2026.The Company invested $50.0 million during the first quarter under its share repurchase program. As of March 31, 2026, the Company had $25.0 million remaining for repurchase under its share repurchase authorization.Globant completed the first quarter of 2026 with 28,510 Globers, 26,702 of whom were technology, design and innovation professionals.The geographic revenue breakdown for the first quarter of 2026 was as follows: 53.5% from North America (top country: US), 20.5% from Latin America (top country: Argentina), 19.7% from Europe (top country: Spain) and 6.3% from New Markets[1] (top country: Saudi Arabia).Globant's top customer, top five customers and top ten customers for the first quarter of 2026 represented 8.9%, 21.1% and 30.5% of revenues, respectively.During the twelve months ended March 31, 2026, Globant served a total of 943 customers (with revenues over $100,000 in the last twelve months), with 333 accounts generating more than $1 million of annual revenues, compared to 341 for the same period one year ago.In terms of currencies, 64.5% of Globant's revenues for the first quarter of 2026 were denominated in US dollars.2026 Second Quarter and Full Year OutlookBased on current market conditions, Globant is providing the following estimates for the second quarter and the full year of 2026:Second quarter 2026 Revenues are estimated to be in the range of $610 million to $616 million, representing a 0.7% year-over-year decline to 0.3% year-over-year increase. This outlook includes a positive FX impact of 100 basis points.Second quarter 2026 Non-IFRS Adjusted Profit from Operations Margin is estimated to be in the range of 14.0% to 15.0%.Second quarter 2026 Non-IFRS Adjusted Diluted EPS is estimated to be in the range of 1.45 to 1.55 (assuming an average of 43.6 million diluted shares outstanding during the second quarter).Fiscal year 2026 Revenues are estimated to be in the range of $2,462 million to $2,508 million, implying 0.3% to 2.2% year-over-year revenue growth. This expected growth includes a positive FX impact of 100 basis points.Fiscal year 2026 Non-IFRS Adjusted Profit from Operations Margin is estimated to be in the range of 14.0% to 15.0%.Fiscal year 2026 Non-IFRS Adjusted Diluted EPS is estimated to be in the range of $6.10 to $6.50 (assuming an average of 44.1 million diluted shares outstanding during 2026).Shareholder Letter, Conference Call and Webcast
A shareholder letter will be available in the Investor Relations section of Globant's website.
Martin Migoya, Chief Executive Officer and co-founder, Diego Tártara, Chief Technology Officer, Juan Urthiague, Chief Financial Officer, and Fernando Matzkin, Chief Revenue Officer, will discuss the results in a video conference call and a live Q&A session beginning today at 4:30 pm ET.Video conference call access information is:
https://more.globant.com/F1Q26EarningsCall
Webcast http://investors.globant.com/[1] Represents Asia, Oceania and the Middle East.About Globant (NYSE:GLOB)
At Globant, we help organizations thrive in a digital and AI-powered future. Our industry-focused solutions combine technology and creativity to accelerate enterprise transformation and design experiences customers demand. Through digital reinvention, our subscription-based AI Pods, and Globant Enterprise AI platform, we turn challenges into measurable business results and promised savings into real impact.We have more than 28,500 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 IFRS Accounting Standards as issued by the International Accounting Standards Board ("IASB"), this announcement does not contain sufficient information to constitute an interim financial report as defined in International Accounting Standards 34, "Interim Financial Reporting" or 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 Accounting Standards. 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, business optimization costs, 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 March 31, 2026 and December 31, 2025 and its condensed interim consolidated statements of comprehensive income for the three months ended March 31, 2026 and 2025, 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)
Three months ended
March 31, 2026
March 31, 2025
Revenues607,085
611,085Cost of revenues (397,604)
(397,855)Gross profit209,481
213,230
Selling, general and administrative expenses(158,406)
(161,695)Net impairment losses on financial assets(794)
(1,679)Other operating income and expenses, net1,391
—Profit from operations51,672
49,856
Finance income1,822
945Finance expense(9,432)
(9,627)Other financial results, net1,760
1,100Financial results, net(5,850)
(7,582)
Share of results of investment in associates(65)
(17)Other income and expenses, net4,917
(3,271)Profit before income tax50,674
38,986
Income tax(11,904)
(8,491)Net income for the period38,770
30,495
Other comprehensive income, net of income tax effects
Items that may be reclassified subsequently to profit and loss:
- Exchange differences on translating foreign operations(5,643)
29,089- Remeasurement on defined benefit plan196
—- Gains and losses on cash flow hedges(3,616)
10,158Total comprehensive income for the period29,707
69,742
Net income attributable to:
Owners of the Company36,979
30,635Non-controlling interest1,791
(140)Net income for the period38,770
30,495
Total comprehensive income for the period attributable to:
Owners of the Company29,047
67,724Non-controlling interest660
2,018Total comprehensive income for the period29,707
69,742Earnings per share
Basic 0.86
0.70Diluted0.85
0.68Weighted average of outstanding shares (in thousands)
Basic 43,076
44,057Diluted43,352
45,182Globant S.A.
Condensed Interim Consolidated Statements of Financial Position as of March 31, 2026 and December 31, 2025
(In thousands of U.S. dollars, unaudited)
March 31, 2026
December 31, 2025ASSETS
Current assets
Cash and cash equivalents
195,293
243,742Investments
5,244
6,594Trade receivables
605,760
577,673Other assets
32,826
35,117Other receivables
76,316
84,405Other financial assets
5,899
6,226Total current assets
921,338
953,757
Non-current assets
Investments
2,578
2,489Other assets
4,138
4,424Other receivables
60,586
49,496Deferred tax assets
93,607
91,065Investment in associates
1,039
1,727Other financial assets
29,930
29,930Property and equipment
132,655
137,331Intangible assets
328,163
345,951Right-of-use assets
93,321
100,542Goodwill
1,598,230
1,601,523Total non-current assets
2,344,247
2,364,478TOTAL ASSETS
3,265,585
3,318,235
LIABILITIES
Current liabilities
Trade payables
112,668
112,590Payroll and social security taxes payable
190,665
203,395Borrowings
19,503
19,666Other financial liabilities
119,472
169,605Lease liabilities
28,499
28,511Tax liabilities
21,385
33,205Income tax payable
12,468
10,730Other liabilities
2,207
2,591Total current liabilities
506,867
580,293
Non-current liabilities
Trade payables
7,692
3,684Borrowings
342,268
347,040Other financial liabilities
88,121
90,499Lease liabilities
72,400
78,428Deferred tax liabilities
27,299
30,906Income tax payable
6,429
1,428Payroll and social security taxes payable
2,341
2,358Contingent liabilities
21,277
21,963Total non-current liabilities
567,827
576,306TOTAL LIABILITIES
1,074,694
1,156,599
Capital and reserves
Issued capital
51,914
52,604Additional paid-in capital
1,168,217
1,167,979Other reserves
(100,653)
(92,721)Retained earnings
1,002,718
965,739Total equity attributable to owners of the Company
2,122,196
2,093,601Non-controlling interests
68,695
68,035Total equity
2,190,891
2,161,636TOTAL EQUITY AND LIABILITIES
3,265,585
3,318,235Globant S.A.
Selected Cash Flow Data
(In thousands of U.S. dollars, unaudited)
Three Months Ended
March 31, 2026
March 31, 2025Net Income for the period
38,770
30,495Non-cash adjustments, taxes and others
75,930
73,625Changes in working capital
(60,262)
(88,429)Cash flows from operating activities
54,438
15,691Capital expenditures
(18,372)
(21,405)Cash flows from investing activities
(31,014)
(26,489)Cash flows from financing activities
(71,862)
(16,980)Net increase/decrease in cash & cash equivalents
(48,438)
(27,778)Globant S.A.
Supplemental Non-IFRS Financial Information
(In thousands of U.S. dollars, unaudited)
Three Months Ended
March 31, 2026
March 31, 2025
Reconciliation of adjusted gross profit
Gross profit209,481
213,230Depreciation and amortization expense11,589
11,156Share-based compensation expense - Equity settled3,306
7,690Adjusted gross profit224,376
232,076Adjusted gross profit margin37.0 %
38.0 %
Reconciliation of selling, general and administrative expenses
Selling, general and administrative expenses(158,406)
(161,695)Depreciation and amortization expense26,544
29,655Share-based compensation expense - Equity settled14,894
13,385Acquisition-related charges (a)4,417
6,567Adjusted selling, general and administrative expenses(112,551)
(112,088)Adjusted selling, general and administrative expenses as % of revenues(18.5) %
(18.3) %
Reconciliation of adjusted profit from operations
Profit from operations51,672
49,856Share-based compensation expense - Equity settled18,200
21,075Acquisition-related charges (a)15,552
19,605Adjusted profit from operations85,424
90,536Adjusted profit from operations margin14.1 %
14.8 %
Reconciliation of net income for the period
Net income for the period36,979
30,635Share-based compensation expense - Equity settled18,186
21,019Acquisition-related charges (a)18,343
27,957Tax effect of non-IFRS adjustments(8,347)
(11,776)Adjusted net income65,161
67,835Adjusted net income margin10.7 %
11.1 %
Calculation of adjusted diluted EPS
Adjusted net income65,161
67,835Diluted shares43,352
45,182Adjusted diluted EPS1.50
1.50Acquisition-related charges include, when applicable, amortization of purchased intangible assets, 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)MetricsQ1 2025Q2 2025Q3 2025Q4 2025Q1 2026
Total Employees31,10230,08429,02028,77328,510IT Professionals29,02228,09727,12326,90626,702
North America Revenues %55.554.153.853.853.5Latin America Revenues %19.619.719.921.120.5Europe Revenues %18.219.619.419.319.7New Markets Revenues %6.76.66.95.86.3
USD Revenues %67.264.163.264.064.5Other Currencies Revenues %32.835.936.836.035.5
Top Customer %8.88.68.78.58.9Top 5 Customers %20.020.320.720.521.1Top 10 Customers %29.129.329.529.430.5
Customers Served (Last Twelve Months)*1,004981978944943Customers with >$1M in Revenues (Last Twelve Months)341339339336333
(*) Represents customers with more than $100,000 in revenues in the last twelve months.Investor Relations Contact:
Arturo Langa, Globant
investors @68_shovelMedia Contact:
Gregorio Lascano, Globant
pr @68_shovelSource: Globant View original content to download multimedia:https://www.prnewswire.com/news-releases/globant-reports-2026-first-quarter-financial-results-302772790.htmlSOURCE GLOBANT Original: Globant Reports 2026 First Quarter Financial Results
US Market News
4月前
Globant Reports 2025 Fourth Quarter Financial ResultsFebruary 26, 2026 4:15 PM
PR Newswire (US)
LUXEMBOURG, Feb. 26, 2026 /PRNewswire/ -- Globant (NYSE: GLOB) today announced results for the three and twelve months ended December 31, 2025.
"Twenty-three years ago, we set out to build a company that would reinvent how technology gets created. Today, we are reinforcing that commitment. In 2025, we delivered our highest revenue and strongest free cash flow ever, while simultaneously transforming our entire delivery model. As the world shifts from experiment to implementation, our AI-native Pods present a new approach on how software is built and scaled. We are moving beyond the traditional 'seats' model by introducing a token-based, intelligent subscription model that offers our clients total corporate sovereignty. We aren't just riding the AI wave; we want to re-define what the next era of professional services actually looks like," said Martín Migoya, Globant's CEO and co-founder."We are excited about what lies in the future. Our solid bookings, a pipeline exceeding $3 billion, and $20.6 million in ARR generated from our AI Pods are indicators of how we are executing our vision. These results are supported by a solid finish of the past year, with fourth-quarter revenue reaching $612.5 million, exceeding our guidance and reflecting an improvement in client sentiment. We maintained a consistent 15.5% adjusted operating margin through strong operational discipline. I am also proud of our record cash generation, achieving $152.8 million in quarterly free cash flow, the highest in our company's history. As we begin 2026, we remain focused on maintaining our discipline to capture the opportunities in our robust pipeline," explained Juan Urthiague, Globant's CFO.Please see highlights below. Note that reconciliations between IFRS and Non-IFRS financial measures are disclosed at the end of this press release.Fourth Quarter 2025 Financial HighlightsRevenues were $612.5 million, exceeding the company's guidance and representing 4.7% year-over-year decline.IFRS Gross Profit Margin was 34.9% compared to 35.7% in the fourth quarter of 2024.Non-IFRS Adjusted Gross Profit Margin was 37.6% compared to 38.3% in the fourth quarter of 2024.IFRS Profit from Operations Margin was 9.7% compared to 9.1% in the fourth quarter of 2024.Non-IFRS Adjusted Profit from Operations Margin was 15.5% compared to 15.7% in the fourth quarter of 2024.IFRS Diluted EPS was $0.93 compared to $0.85 in the fourth quarter of 2024.Non-IFRS Adjusted Diluted EPS was $1.54 compared to $1.75 in the fourth quarter of 2024.Full Year ended December 31, 2025 Financial HighlightsRevenues rose to $2,454.9 million, representing 1.6% year-over-year growth.IFRS Gross Profit Margin was 35.0% compared to 35.7% for the full year 2024.Non-IFRS Adjusted Gross Profit Margin was 37.9% compared to 38.2% for the full year 2024.IFRS Profit from Operations Margin was 7.0% compared to 9.3% for the full year 2024.Non-IFRS Adjusted Profit from Operations Margin was 15.2% compared to 15.4% for the full year 2024.IFRS Diluted EPS was $2.29 compared to $3.72 for the full year 2024.Non-IFRS Adjusted Diluted EPS was $6.14 compared to $6.40 for the full year 2024.Other Financial Highlights for the Twelve Months ended December 31, 2025
Cash and cash equivalents and Short-term investments were $250.3 million as of December 31, 2025.The Company invested $50.0 million during the fourth quarter under its share repurchase program. As of December 31, 2025, the Company had $75.0 million remaining for repurchase under its share repurchase authorization.Globant completed the fourth quarter of 2025 with 28,773 Globers, 26,906 of whom were technology, design and innovation professionals.The geographic revenue breakdown for the fourth quarter of 2025 was as follows: 53.8% from North America (top country: US), 21.1% from Latin America (top country: Argentina), 19.3% from Europe (top country: Spain) and 5.8% from New Markets1 (top country: Saudi Arabia).Globant's top customer, top five customers and top ten customers for the fourth quarter of 2025 represented 8.5%, 20.5% and 29.4% of revenues, respectively.During the twelve months ended December 31, 2025, Globant served a total of 944 customers (with revenues over $100,000 in the last twelve months), with 336 accounts generating more than $1 million of annual revenues, compared to 346 for the same period one year ago.In terms of currencies, 64.0% of Globant's revenues for the fourth quarter of 2025 were denominated in US dollars.2026 First Quarter and Full Year OutlookBased on current market conditions, Globant is providing the following estimates for the first quarter and the full year of 2026:First quarter 2026 Revenues are estimated to be in the range of $598 million to $604 million, representing a 2.1% to 1.2% year-over-year decline. This outlook includes a positive FX impact of 150 basis points.First quarter 2026 Non-IFRS Adjusted Profit from Operations Margin is estimated to be in the range of 14.0% to 15.0%.First quarter 2026 Non-IFRS Adjusted Diluted EPS is estimated to be in the range of 1.44 to 1.54 (assuming an average of 43.7 million diluted shares outstanding during the first quarter).Fiscal year 2026 Revenues are estimated to be in the range of $2,460 million to $2,510 million, implying 0.2% to 2.2% year-over-year revenue growth. This expected growth includes a positive FX impact of 100 basis points.Fiscal year 2026 Non-IFRS Adjusted Profit from Operations Margin is estimated to be in the range of 14.0% to 15.0%.Fiscal year 2026 Non-IFRS Adjusted Diluted EPS is estimated to be in the range of $6.10 to $6.50 (assuming an average of 44.2 million diluted shares outstanding during 2026).Shareholder Letter, Conference Call and Webcast
A shareholder letter will be available in the Investor Relations section of Globant's website.Martin Migoya, Chief Executive Officer and co-founder, Diego Tártara, Chief Technology Officer, Juan Urthiague, Chief Financial Officer, and Fernando Matzkin, Chief Revenue Officer, will discuss the results in a video conference call and a live Q&A session beginning today at 4:30 pm ET.Video conference call access information is:
https://more.globant.com/F4Q25EarningsCall
Webcast http://investors.globant.com/ About Globant (NYSE:GLOB)
At Globant, we help organizations thrive in a digital and AI-powered future. Our industry-focused solutions combine technology and creativity to accelerate enterprise transformation and design experiences customers demand. Through digital reinvention, our subscription-based AI Pods, and Globant Enterprise AI platform, we turn challenges into measurable business results and promised savings into real impact.We have more than 28,700 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.comNon-IFRS Financial MeasuresWhile the financial figures included in this press release have been computed in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board ("IASB"), this announcement does not contain sufficient information to constitute an interim financial report as defined in International Accounting Standards 34, "Interim Financial Reporting" or 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 Accounting Standards. 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, business optimization costs, 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 consolidated statements of financial position as of December 31, 2025 and December 31, 2024 and its consolidated statements of comprehensive income for the three months and years ended December 31, 2025 and 2024, prepared in accordance with IFRS Accounting Standards as issued by the IASB.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, business optimization costs, 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.
Consolidated Statements of Comprehensive Income
(In thousands of U.S. dollars, except per share amounts, unaudited)
Twelve months ended
Three Months Ended
December 31, 2025
December 31, 2024
December 31, 2025
December 31, 2024
Revenues2,454,877
2,415,689
612,469
642,483Cost of revenues (1,595,586)
(1,552,322)
(398,808)
(413,161)Gross profit859,291
863,367
213,661
229,322
Selling, general and administrative expenses(629,332)
(632,995)
(156,427)
(172,118)Net impairment losses on financial assets(7,571)
(6,970)
986
2,024Business Optimization Costs(51,990)
—
—
—Other operating income and expenses, 1,334
2,016
1,334
(722)Profit from operations171,732
225,418
59,554
58,506
Finance income5,526
5,303
2,151
1,427Finance expense(40,608)
(32,202)
(10,003)
(11,666)Other financial results, net3,247
6,064
591
(1,277)Financial results, net(31,835)
(20,835)
(7,261)
(11,516)
Share of results of investment in associates110
222
83
61Other income and expenses, net(862)
5,624
3,817
(518)Profit before income tax139,145
210,429
56,193
46,533
Income tax(35,189)
(41,426)
(13,196)
(7,025)Net income for the period103,956
169,003
42,997
39,508
Other comprehensive income, net of income tax effects
Items that may be reclassified subsequently to profit and loss:
- Exchange differences on translating foreign operations70,225
(86,110)
(10,455)
(65,652)- Net change in fair value on financial assets measured at FVOCI(21,286)
1,959
(15,488)
940- Gains and losses on cash flow hedges9,116
(14,142)
(523)
(1,374)Total comprehensive income for the period162,011
70,710
16,531
(26,578)
Net income attributable to:
Owners of the Company102,918
165,732
41,564
38,408Non-controlling interest1,038
3,271
1,433
1,100Net income for the period103,956
169,003
42,997
39,508
Total comprehensive income for the period attributable to:
Owners of the Company154,953
63,024
15,388
(31,840)Non-controlling interest7,058
7,686
1,143
5,262Total comprehensive income for the period162,011
70,710
16,531
(26,578)Earnings per share
Basic 2.33
3.82
0.94
0.88Diluted2.29
3.72
0.93
0.85Weighted average of outstanding shares (in thousands)
Basic 44,228
43,402
44,057
43,859Diluted 45,005
44,589
44,833
45,046Globant S.A.
Consolidated Statements of Financial Position as of December 31, 2025 and December 31, 2024
(In thousands of U.S. dollars, unaudited)
December 31,
2025
2024ASSETS
Current assets
Cash and cash equivalents
243,742
142,093Investments
6,594
13,992Trade receivables
577,673
605,002Other assets
35,117
20,420Other receivables
84,405
53,939Other financial assets
6,226
3,100Total current assets
953,757
838,546
Non-current assets
Investments
2,489
2,212Other assets
4,424
4,750Other receivables
49,496
40,784Deferred tax assets
91,065
80,811Investment in associates
1,727
1,648Other financial assets
29,930
41,403Property and equipment
137,331
154,755Intangible assets
345,951
378,024Right-of-use asset
100,542
122,884Goodwill
1,601,523
1,483,443Total non-current assets
2,364,478
2,310,714TOTAL ASSETS
3,318,235
3,149,260
LIABILITIES
Current liabilities
Trade payables
112,590
114,743Payroll and social security taxes payable
203,395
239,440Borrowings
19,666
1,601Other financial liabilities
169,605
77,976Lease liabilities
28,511
29,736Tax liabilities
33,205
36,916Income tax payable
10,730
6,520Other liabilities
2,591
231Total current liabilities
580,293
507,163
Non-current liabilities
Trade payables
3,684
2,006Borrowings
347,040
290,935Other financial liabilities
90,499
168,163Lease liabilities
78,428
87,887Deferred tax liabilities
30,906
29,776Income tax payable
1,428
6,625Payroll and social security taxes payable
2,358
5,187Contingent liabilities
21,963
18,169Total non-current liabilities
576,306
608,748TOTAL LIABILITIES
1,156,599
1,115,911
Capital and reserves
Issued capital
52,604
52,837Additional paid-in capital
1,167,979
1,193,029Other reserves
(92,721)
(144,756)Retained earnings
965,739
862,821Total equity attributable to owners of the Company
2,093,601
1,963,931Non-controlling interests
68,035
69,418Total equity
2,161,636
2,033,349TOTAL EQUITY AND LIABILITIES
3,318,235
3,149,260Globant S.A.
Selected Cash Flow Data
(In thousands of U.S. dollars, unaudited)
Three Months Ended
December 31, 2025
December 31, 2024Net Income for the period
42,997
39,508Non-cash adjustments, taxes and others
58,506
56,881Changes in working capital
70,013
40,934Cash flows from operating activities
171,516
137,323Capital expenditures
(18,732)
(36,167)Cash flows from investing activities
(12,022)
(236,732)Cash flows from financing activities
(78,060)
45,986Net increase/decrease in cash & cash equivalents
81,434
(53,423)Globant S.A.
Supplemental Non-IFRS Financial Information
(In thousands of U.S. dollars, unaudited)
Twelve Months Ended
Three Months Ended
December 31, 2025
December 31, 2024
December 31, 2025
December 31, 2024
Reconciliation of adjusted gross profit
Gross profit859,291
863,367
213,661
229,322Depreciation and amortization expense44,719
36,034
11,263
10,619Share-based compensation expense - Equity settled27,279
23,937
5,115
5,927Adjusted gross profit931,289
923,338
230,039
245,868Adjusted gross profit margin37.9 %
38.2 %
37.6 %
38.3 %
Reconciliation of selling, general and administrative expenses
Selling, general and administrative expenses(629,332)
(632,995)
(156,427)
(172,118)Depreciation and amortization expense116,422
100,181
27,963
25,430Share-based compensation expense - Equity settled50,453
58,833
13,241
16,111Acquisition-related charges (a)21,300
28,733
5,343
11,503Adjusted selling, general and administrative expenses(441,157)
(445,248)
(109,880)
(119,074)Adjusted selling, general and administrative expenses as % of revenues(18.0) %
(18.4) %
(17.9) %
(18.5) %
Reconciliation of adjusted profit from operations
Profit from operations171,732
225,418
59,554
58,506Share-based compensation expense - Equity settled77,732
82,770
18,356
22,038Acquisition-related charges (a)71,818
63,231
17,115
20,563Business optimization costs (b)51,990
—
—
—Adjusted profit from operations373,272
371,419
95,025
101,107Adjusted profit from operations margin15.2 %
15.4 %
15.5 %
15.7 %
Reconciliation of net income for the period
Net income for the period102,918
165,732
41,564
38,408Share-based compensation expense - Equity settled76,529
82,618
17,656
22,000Acquisition-related charges (a)97,334
71,895
18,598
30,561Business optimization costs (b)50,876
—
—
—Tax effect of non-IFRS adjustments(51,426)
(34,819)
(8,874)
(12,303)Adjusted net income276,231
285,426
68,944
78,666Adjusted net income margin11.3 %
11.8 %
11.3 %
12.2 %
Calculation of adjusted diluted EPS
Adjusted net income276,231
285,426
68,944
78,666Diluted shares45,005
44,589
44,833
45,046Adjusted diluted EPS6.14
6.40
1.54
1.75(a) Acquisition-related charges include, when applicable, amortization of purchased intangible assets, 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.(b) One-time charges for the three and twelve months ended December 31, 2025 related to the Company's Business Optimization Program initiated in April 2025. These charges, primarily related to workforce resizing and office reductions, have been excluded from non-IFRS results as these are one-time and unusual in nature.Globant S.A.
Schedule of Supplemental Information (unaudited)MetricsQ4 2024Q1 2025Q2 2025Q3 2025Q4 2025
Total Employees31,28031,10230,08429,02028,773IT Professionals29,19829,02228,09727,12326,906
North America Revenues %55.255.554.153.853.8Latin America Revenues %20.419.619.719.921.1Europe Revenues %17.718.219.619.419.3New Markets Revenues %6.76.76.66.95.8
USD Revenues %64.867.264.163.264.0Other Currencies Revenues %35.232.835.936.836.0
Top Customer %9.18.88.68.78.5Top 5 Customers %19.820.020.320.720.5Top 10 Customers %29.329.129.329.529.4
Customers Served (Last Twelve Months)*1,0121,004981978944Customers with >$1M in Revenues (Last Twelve Months)346341339339336
(*) Represents customers with more than $100,000 in revenues in the last twelve months.Investor Relations Contact:
Arturo Langa, Globant
investors@globant.com