Globant S.A. Q1 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Globant Q1 2022 Earnings Summary

  • Revenue: $401.4 million, an increase of 48.6% year-over-year (YoY) and 5.7% quarter-over-quarter (QoQ). Organic growth was approximately 43% YoY.
  • Adjusted Gross Profit: $158.4 million, 39.5% margin compared to $107 million (39.6%) in Q1 2021.
  • Adjusted Operating Income: $67.5 million (16.8% margin), up from $45 million (16.6%) in Q1 2021.
  • Adjusted Net Income: $50.8 million (12.7% margin), up from $34.2 million (12.7%) YoY.
  • Adjusted Diluted EPS: $1.19, up from $0.83 in Q1 2021 (43.4% YoY growth).
  • Free Cash Flow: Negative as expected due to tax and bonus payments; forecasted to improve in Q2 and surge in H2 2022.
  • Headcount: 24,504 total Globers (42.2% YoY growth in IT professionals). Attrition rate was 19.6%.
  • Geographic Revenue Distribution: North America 63.1%, LATAM 23.5%, EMEA 11.1%, Asia & Oceania 2.3%.
  • Top Client (Disney): Revenue increased 55% YoY and 5.1% QoQ.

Strategic Initiatives & Developments

  • Acquisition of GeneXus: Expands low-code/no-code capabilities and presence in Asia, where GeneXus derives 30% of its revenue.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Carolina Dolan Chandler: Good day and welcome to Globant's First Quarter 2022 Earnings Conference Call. I am Carolina Dolan Chandler, Chief Digital Officer at Globant. All participants on this call will be on listen-only mode. After today's presentation, there will be an opportunity to ask questions. Please note that this event is being recorded and streamed live on YouTube. By now, you should have received a copy of the earnings release. If you have not, a copy is available on our website, investors.globant.com. Our speakers today are Martin Migoya, Co-Founder and Chief Executive Officer; Juan Urthiague, Chief Financial Officer; Patricia Pomies, Chief Operating Officer; and Diego Tartara, Global Chief Technology Officer. Before we begin, I would like to remind you that some of the comments on our call today may be deemed forward-looking statements. This includes our business and financial outlook and the answers to some of our questions. Such statements are subject to the risks and uncertainties as described in the company's earnings release and other filings with the SEC. Please note that we follow IFRS accounting rules in our financial statements. During our call today, we will report non-IFRS or adjusted measures, which is how we track performance internally and the easiest way to compare Globant to our peers in the industry. You will find a reconciliation of IFRS and non-IFRS measures at the end of the press release we published on our Investor Relations website announci

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional