Strong Performance Amid Robust Demand
Environment
- Second quarter revenues of $305.3
million, up 67.1% year-over-year
- IFRS Diluted EPS of $0.48 for the second quarter
- Non-IFRS Diluted EPS of $0.88 for the second quarter
LUXEMBOURG,
Aug. 12, 2021
/PRNewswire/ -- Globant (NYSE: GLOB), a digitally native
technology services company, today announced results for the
three and six months ended June 30, 2021.
Please see highlights below, including certain Non-IFRS
measures. Note that reconciliations between Non-IFRS financial
measures and IFRS operating results are disclosed at the end of
this press release.
Second Quarter 2021 Financial Highlights
- Revenues rose to $305.3 million,
representing 67.1% year-over-year growth compared to the second
quarter of 2020.
- IFRS Gross Profit margin was 38.0% compared to 36.3% in the
second quarter of 2020.
- Non-IFRS Adjusted Gross Profit Margin was 39.3% compared to
38.2% in the second quarter of 2020.
- IFRS Profit from Operations Margin was 10.1% compared to 8.1%
in the second quarter of 2020.
- Non-IFRS Adjusted Profit from Operations Margin was 16.2%
compared to 13.5% in the second quarter of 2020.
- IFRS Diluted EPS was $0.48
compared to $0.26 in the second
quarter of 2020.
- Non-IFRS Adjusted Diluted EPS was $0.88 compared to $0.45 in the second quarter of 2020.
Six months ended June 30, 2021 Financial
Highlights
- Revenues rose to $575.4 million,
representing 53.7% year-over-year growth compared to the first six
months of 2020.
- IFRS Gross Profit margin was 38.1% compared to 37.0% in the
first six months of 2020.
- Non-IFRS Adjusted Gross Profit Margin was 39.4% compared to
38.9% in the first six months of 2020.
- IFRS Profit from Operations Margin was 10.6% compared to 8.9%
in the first six months of 2020
- Non-IFRS Adjusted Profit from Operations Margin was 16.4%
compared to 14.6% in the first six months of 2020.
- IFRS Diluted EPS was $1.01
compared to $0.60 in the first six
months of 2020.
- Non-IFRS Adjusted Diluted EPS was $1.71 compared to $1.04 in the first six months of 2020.
Other Metrics as of and for the quarter ended June 30,
2021
- Cash and cash equivalents and Short-term investments totaled
$465.0 million as of June 30,
2021, an increase of $166.8 million
from $298.2 million as of
December 31, 2020. During the second quarter of 2021, we
raised approximately $286.2 million
in net proceeds from our equity offering of 1.38 million shares. As
of June 30, 2021, our credit facility was fully undrawn.
- Globant completed the second quarter of 2021 with 19,428
Globers, 18,350 of whom were technology, design and innovation
professionals.
- The geographic revenue breakdown for the second quarter of 2021
was as follows: 63.8% from North
America (top country: US), 21.6% from Latin America and others (top country:
Argentina), 13.2% from
Europe (top country: Spain) and 1.4% from Asia (top country: Japan).
- In terms of currencies, 76.4% of Globant's revenues for the
second quarter of 2021 were denominated in US dollars.
- During the twelve months ended June 30, 2021, Globant
served a total of 941 customers and continued to increase its
wallet share, having 154 accounts with more than $1 million of annual revenues, compared to 113
for the same period one year ago.
- Globant's top customer, top five customers and top ten
customers for the second quarter of 2021 represented 10.3%, 26.4%
and 39.8% of revenues, respectively.
"Organizations continue to face the need to adapt to new
demands. According to the IDC, the number of companies that embrace
a digital transformation strategy is up 43% since 2019. This
continues to present a unique opportunity to us, as we help our
clients seek reinvention and create their way forward", said Martín
Migoya. "As a reflection of our vision, we have seen an amazing
expansion during the first half of the year, and it's the first
time Globant's revenues have surpassed $1
billion over the last twelve months. We will continue
working to scale our dream of reinventing this industry."
"In the second quarter we recorded a robust 67.1% year over year
revenue growth, with strong margins, leading to both top and bottom
line beats. In addition, we accelerated our hiring in Q2, with IT
professionals up 58.6% year over year and 12.7% quarter over
quarter. Our revenues, adj. EPS and IT headcount, all recorded the
strongest year over year growth since we are a public company. We
also materially raised our full-year guidance. As we exit the
Covid-19 pandemic, we are witnessing a demand environment stronger
than before the pandemic. Moreover, our robust pipeline makes us
believe we can deliver strong and elevated levels of growth for the
foreseeable future," explained Juan Urthiague, Globant's CFO.
2021 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
2021:
- Third quarter 2021 Revenues are estimated to be at least
$325 million, or 56.8% year over year
growth.
- Third quarter 2021 Non-IFRS Adjusted Profit from Operations
Margin is estimated to be in the range of 15.5%-17%.
- Third quarter 2021 Non-IFRS Adjusted Diluted EPS is estimated
to be at least $0.92 (assuming an
average of 42.7 million diluted shares outstanding during the third
quarter).
- Fiscal year 2021 Revenues are estimated to be at least
$1,236 million, or 51.8% year over
year growth.
- Fiscal year 2021 Non-IFRS Adjusted Profit from Operations
Margin is estimated to be in the range of 15.5%-17%.
- Fiscal year 2021 Non-IFRS Adjusted Diluted EPS is estimated to
be at least $3.58 (assuming an
average of 42.0 million diluted shares outstanding during
2021).
Conference Call and Webcast
Martín Migoya and Juan Urthiague will discuss the second quarter
2021 results in a video conference call today beginning at
4:30pm ET.
Video conference call access information is:
https://more.globant.com/F2Q21EarningsCall
Webcast http://investors.globant.com/
About Globant (NYSE:GLOB)
We are a digitally native company that helps organizations
reinvent themselves to create a way forward and unleash their
potential. We are the place where innovation, design and
engineering meet scale.
We have more than 19,400 employees and we are present in 18
countries working for companies like Google, Rockwell Automation,
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,
impairment of non-financial assets, acquisition-related charges,
COVID-19 related expenses 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, 2021 and December 31,
2020 and its condensed interim consolidated statement of
comprehensive income for the three and six months ended
June 30, 2021 and 2020, 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, impairment of assets,
acquisition-related charges COVID-19 related expenses 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: the impact and duration of the COVID-19
pandemic; 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 Statement of Comprehensive Income
|
(In thousands of
U.S. dollars, except per share amounts, unaudited)
|
|
|
|
|
|
|
|
Six months
ended
|
|
Three months
ended
|
|
|
June 30,
2021
|
|
June 30,
2020
|
|
June 30,
2021
|
|
June 30,
2020
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
575,427
|
|
|
374,280
|
|
|
305,257
|
|
|
182,708
|
|
Cost of
revenues
|
|
(356,249)
|
|
|
(235,836)
|
|
|
(189,276)
|
|
|
(116,467)
|
|
Gross
profit
|
|
219,178
|
|
|
138,444
|
|
|
115,981
|
|
|
66,241
|
|
|
|
|
|
|
|
|
|
|
Selling, general and
administrative expenses
|
|
(154,097)
|
|
|
(101,454)
|
|
|
(82,206)
|
|
|
(49,582)
|
|
Net impairment losses
on financial assets
|
|
(4,003)
|
|
|
(3,544)
|
|
|
(2,904)
|
|
|
(1,927)
|
|
Other operating
income
|
|
11
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Profit from
operations
|
|
61,089
|
|
|
33,446
|
|
|
30,871
|
|
|
14,732
|
|
|
|
|
|
|
|
|
|
|
Finance
income
|
|
330
|
|
|
707
|
|
|
7
|
|
|
451
|
|
Finance
expense
|
|
(5,943)
|
|
|
(5,106)
|
|
|
(3,331)
|
|
|
(2,651)
|
|
Other financial
results, net
|
|
(655)
|
|
|
3,624
|
|
|
(1,526)
|
|
|
907
|
|
Financial results,
net
|
|
(6,268)
|
|
|
(775)
|
|
|
(4,850)
|
|
|
(1,293)
|
|
|
|
|
|
|
|
|
|
|
Share of results of
investment in associates
|
|
(233)
|
|
|
(82)
|
|
|
(233)
|
|
|
(82)
|
|
|
|
|
|
|
|
|
|
|
Other income and
expenses, net
|
|
(443)
|
|
|
43
|
|
|
(481)
|
|
|
27
|
|
Profit before
income tax
|
|
54,145
|
|
|
32,632
|
|
|
25,307
|
|
|
13,384
|
|
|
|
|
|
|
|
|
|
|
Income tax
|
|
(12,531)
|
|
|
(9,443)
|
|
|
(5,360)
|
|
|
(3,365)
|
|
Net income for the
period
|
|
41,614
|
|
|
23,189
|
|
|
19,947
|
|
|
10,019
|
|
|
|
|
|
|
|
|
|
|
- Exchange
differences on translating foreign operations
|
|
(2,438)
|
|
|
(1,537)
|
|
|
(714)
|
|
|
567
|
|
- Net change in fair
value on financial assets measured at FVOCI
|
|
—
|
|
|
(23)
|
|
|
—
|
|
|
91
|
|
- Gains and losses on
cash flow hedges
|
|
96
|
|
|
(834)
|
|
|
(74)
|
|
|
1,235
|
|
Total
comprehensive income for the period
|
|
39,272
|
|
|
20,795
|
|
|
19,159
|
|
|
11,912
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to:
|
|
|
|
|
|
|
|
|
Owners of the
Company
|
|
41,614
|
|
|
23,189
|
|
|
19,947
|
|
|
10,019
|
|
Net income for the
period
|
|
41,614
|
|
|
23,189
|
|
|
19,947
|
|
|
10,019
|
|
|
|
|
|
|
|
|
|
|
Total
comprehensive income for the period attributable to:
|
|
|
|
|
|
|
|
|
Owners of the
Company
|
|
39,272
|
|
|
20,795
|
|
|
19,159
|
|
|
11,912
|
|
Total
comprehensive income for the period
|
|
39,272
|
|
|
20,795
|
|
|
19,159
|
|
|
11,912
|
|
Earnings per
share
|
|
|
|
|
|
|
|
|
Basic
|
|
1.03
|
|
|
0.62
|
|
|
0.49
|
|
|
0.27
|
|
Diluted
|
|
1.01
|
|
|
0.60
|
|
|
0.48
|
|
|
0.26
|
|
Weighted average
of outstanding shares (in thousands)
|
|
|
|
|
|
|
|
|
Basic
|
|
40,212
|
|
|
37,347
|
|
|
40,522
|
|
|
37,686
|
|
Diluted
|
|
41,354
|
|
|
38,420
|
|
|
41,664
|
|
|
38,759
|
|
Globant
S.A.
|
Condensed Interim
Consolidated Statements of Financial Position as of June 30,
2021 and December 31, 2020
|
(In thousands of
U.S. dollars, unaudited)
|
|
|
|
|
|
|
|
June 30,
2021
|
|
December 31,
2020
|
ASSETS
|
|
|
|
|
Current
assets
|
|
|
|
|
Cash and cash
equivalents
|
|
431,373
|
|
|
278,939
|
|
Investments
|
|
33,673
|
|
|
19,284
|
|
Trade
receivables
|
|
281,422
|
|
|
196,020
|
|
Other
assets
|
|
7,097
|
|
|
8,146
|
|
Other
receivables
|
|
58,485
|
|
|
31,633
|
|
Other financial
assets
|
|
2,265
|
|
|
1,577
|
|
Total current
assets
|
|
814,315
|
|
|
535,599
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
Trade
Receivables
|
|
—
|
|
|
5,644
|
|
Investments
|
|
823
|
|
|
615
|
|
Other
assets
|
|
5,429
|
|
|
6,954
|
|
Other
Receivables
|
|
12,874
|
|
|
9,629
|
|
Deferred tax
assets
|
|
42,906
|
|
|
41,507
|
|
Investment in
associates
|
|
—
|
|
|
3,154
|
|
Other financial
assets
|
|
26,233
|
|
|
15,147
|
|
Property and
equipment
|
|
108,388
|
|
|
101,027
|
|
Intangible
assets
|
|
89,082
|
|
|
86,721
|
|
Right-of-use
assets
|
|
97,899
|
|
|
90,010
|
|
Goodwill
|
|
450,946
|
|
|
392,760
|
|
Total non-current
assets
|
|
834,580
|
|
|
753,168
|
|
TOTAL
ASSETS
|
|
1,648,895
|
|
|
1,288,767
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
Current
liabilities
|
|
|
|
|
Trade
payables
|
|
42,135
|
|
|
35,266
|
|
Payroll and social
security taxes payable
|
|
121,114
|
|
|
111,881
|
|
Borrowings
|
|
250
|
|
|
907
|
|
Other financial
liabilities
|
|
47,103
|
|
|
19,822
|
|
Lease
liabilities
|
|
8,950
|
|
|
15,358
|
|
Tax
liabilities
|
|
14,383
|
|
|
11,804
|
|
Income tax
payable
|
|
10,199
|
|
|
10,511
|
|
Other
liabilities
|
|
472
|
|
|
81
|
|
Total current
liabilities
|
|
244,606
|
|
|
205,630
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
Trade
payables
|
|
4,528
|
|
|
5,240
|
|
Borrowings
|
|
902
|
|
|
25,061
|
|
Other financial
liabilities
|
|
51,151
|
|
|
74,376
|
|
Lease
liabilities
|
|
84,333
|
|
|
72,240
|
|
Deferred tax
liabilities
|
|
8,337
|
|
|
13,698
|
|
Provisions for
contingencies
|
|
21,529
|
|
|
12,583
|
|
Total non-current
liabilities
|
|
170,780
|
|
|
203,198
|
|
TOTAL
LIABILITIES
|
|
415,386
|
|
|
408,828
|
|
|
|
|
|
|
Capital and
reserves
|
|
|
|
|
Issued
capital
|
|
49,856
|
|
|
47,861
|
|
Additional paid-in
capital
|
|
853,460
|
|
|
541,157
|
|
Other
reserves
|
|
(5,016)
|
|
|
(2,674)
|
|
Retained
earnings
|
|
335,209
|
|
|
293,595
|
|
Total equity
attributable to owners of the Company
|
|
1,233,509
|
|
|
879,939
|
|
TOTAL EQUITY AND
LIABILITIES
|
|
1,648,895
|
|
|
1,288,767
|
|
Globant
S.A.
|
Supplemental
Non-IFRS Financial Information
|
(In thousands of
U.S. dollars, unaudited)
|
|
|
|
|
|
Six months
ended
|
|
Three months
ended
|
|
June 30,
2021
|
|
June 30,
2020
|
|
June 30,
2021
|
|
June 30,
2020
|
|
|
|
|
|
|
|
|
Reconciliation of
adjusted gross profit
|
|
|
|
|
|
|
|
Gross
Profit
|
219,178
|
|
|
138,444
|
|
|
115,981
|
|
|
66,241
|
|
Depreciation and
amortization expense
|
5,883
|
|
|
4,639
|
|
|
3,082
|
|
|
2,349
|
|
Share-based
compensation expense
|
1,830
|
|
|
2,328
|
|
|
815
|
|
|
1,207
|
|
Adjusted gross
profit
|
226,891
|
|
|
145,411
|
|
|
119,878
|
|
|
69,797
|
|
Adjusted gross
profit margin
|
39.4
|
%
|
|
38.9
|
%
|
|
39.3
|
%
|
|
38.2
|
%
|
|
|
|
|
|
|
|
|
Reconciliation of
selling, general and administrative expenses
|
|
|
|
|
|
|
|
Selling, general and
administrative expenses
|
(154,097)
|
|
|
(101,454)
|
|
|
(82,206)
|
|
|
(49,582)
|
|
Depreciation and
amortization expense
|
21,745
|
|
|
9,897
|
|
|
11,907
|
|
|
5,003
|
|
Share-based
compensation expense
|
15,791
|
|
|
10,485
|
|
|
8,109
|
|
|
5,327
|
|
Acquisition-related
charges (a)
|
6,596
|
|
|
4,248
|
|
|
3,962
|
|
|
1,490
|
|
Adjusted selling,
general and administrative expenses
|
(109,965)
|
|
|
(76,824)
|
|
|
(58,228)
|
|
|
(37,762)
|
|
Adjusted selling,
general and administrative expenses as % of revenues
|
(19.1)
|
%
|
|
(20.5)
|
%
|
|
(19.1)
|
%
|
|
(20.7)
|
%
|
|
|
|
|
|
|
|
|
Reconciliation of
Adjusted Profit from Operations
|
|
|
|
|
|
|
|
Profit from
Operations
|
61,089
|
|
|
33,446
|
|
|
30,871
|
|
|
14,732
|
|
Share-based
compensation expense
|
17,621
|
|
|
12,813
|
|
|
8,924
|
|
|
6,534
|
|
Acquisition-related
charges (a)
|
13,473
|
|
|
5,040
|
|
|
7,399
|
|
|
1,878
|
|
COVID-19-related
charges (b)
|
2,228
|
|
|
3,185
|
|
|
2,228
|
|
|
1,469
|
|
Impairment of
assets
|
(11)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Adjusted Profit
from Operations
|
94,400
|
|
|
54,484
|
|
|
49,422
|
|
|
24,613
|
|
Adjusted Profit
from Operations margin
|
16.4
|
%
|
|
14.6
|
%
|
|
16.2
|
%
|
|
13.5
|
%
|
|
|
|
|
|
|
|
|
Reconciliation of
Net income for the period
|
|
|
|
|
|
|
|
Net income for the
period
|
41,614
|
|
|
23,189
|
|
|
19,947
|
|
|
10,019
|
|
Share-based
compensation expense
|
17,621
|
|
|
12,813
|
|
|
8,924
|
|
|
6,534
|
|
Acquisition-related
charges (a)
|
16,202
|
|
|
5,143
|
|
|
9,549
|
|
|
1,926
|
|
COVID-19-related
charges (b)
|
2,228
|
|
|
3,185
|
|
|
2,228
|
|
|
1,469
|
|
Impairment of
assets
|
(11)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Tax effect of
non-IFRS adjustments (c)
|
(6,928)
|
|
|
(4,415)
|
|
|
(4,169)
|
|
|
(2,482)
|
|
Adjusted Net
income
|
70,726
|
|
|
39,915
|
|
|
36,479
|
|
|
17,466
|
|
Adjusted Net
income margin
|
12.3
|
%
|
|
10.7
|
%
|
|
12.0
|
%
|
|
9.6
|
%
|
|
|
|
|
|
|
|
|
Calculation of
Adjusted Diluted EPS
|
|
|
|
|
|
|
|
Adjusted Net
income
|
70,726
|
|
|
39,915
|
|
|
36,479
|
|
|
17,466
|
|
Diluted
shares
|
41,354
|
|
|
38,420
|
|
|
41,664
|
|
|
38,759
|
|
Adjusted Diluted
EPS
|
1.71
|
|
|
1.04
|
|
|
0.88
|
|
|
0.45
|
|
(a) Acquisition-related charges include, when applicable,
amortization of purchased intangible assets included in
depreciation and amortization expense line on our condensed interim
consolidated statements of comprehensive income, external deal
costs, acquisition-related retention bonuses, integration costs,
changes in the fair value of contingent consideration liabilities,
charges for impairment of acquired intangible assets 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) COVID-19 related charges include, when applicable, bad debt
provision related to the effect of COVID-19 on our customers
businesses, donations and other expenses directly attributable to
the pandemic that are both incremental to charges incurred prior to
the outbreak and not expected to recur once the crisis has subsided
and operations return to normal and clearly separable from normal
operations. Moreover, these charges also include rent concessions
that we were granted due to the pandemic environment.
(c) Non-IFRS Adjusted net income and adjusted Diluted EPS for Q2
of 2020 reflects the tax impact of non-IFRS adjustments. Non-IFRS
Adjusted net income and adjusted Diluted EPS for Q2 2020,
previously presented were recast to conform to the current
presentation.
Globant
S.A.
|
Schedule of
Supplemental Information (unaudited)
|
|
Metrics
|
Q2
2020
|
Q3
2020
|
Q4
2020
|
Q1
2021
|
Q2
2021
|
|
|
|
|
|
|
Total
Employees
|
12,333
|
|
14,340
|
|
16,251
|
|
17,267
|
|
19,428
|
|
IT
Professionals
|
11,573
|
|
13,436
|
|
15,290
|
|
16,284
|
|
18,350
|
|
|
|
|
|
|
|
North America
Revenues %
|
72.8
|
|
70.0
|
|
65.9
|
|
63.1
|
|
63.8
|
|
Latin America and
Others Revenues %
|
20.8
|
|
22.4
|
|
24.3
|
|
23.6
|
|
21.6
|
|
Europe Revenues
%
|
6.4
|
|
7.6
|
|
9.8
|
|
12.0
|
|
13.2
|
|
Asia Revenues
%
|
|
|
|
1.3
|
|
1.4
|
|
|
|
|
|
|
|
USD Revenues
%
|
87.0
|
|
84.5
|
|
85.8
|
|
77.7
|
|
76.4
|
|
Other Currencies
Revenues %
|
13.0
|
|
15.5
|
|
14.2
|
|
22.3
|
|
23.6
|
|
|
|
|
|
|
|
Top Customer
%
|
10.7
|
|
10.8
|
|
10.7
|
|
10.5
|
|
10.3
|
|
Top 5 Customers
%
|
31.9
|
|
32.2
|
|
30.0
|
|
28.4
|
|
26.4
|
|
Top 10 Customers
%
|
44.9
|
|
45.0
|
|
42.9
|
|
41.0
|
|
39.8
|
|
|
|
|
|
|
|
Customers Served
(Last Twelve Months)
|
805
|
|
893
|
|
798
|
|
860
|
|
941
|
|
Customers with
>$1M in Revenues (Last Twelve Months)
|
113
|
|
118
|
|
129
|
|
139
|
|
154
|
|
|
|
|
|
|
|
Investor Relations Contact:
Amit Singh, Globant
investors@globant.com
+1 (877) 215-5230
Media Contact:
Wanda Weigert, Globant
pr@globant.com
+1 (877) 215-5230
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SOURCE Globant