Globant S.A. Q1 FY2024 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue: $571.1 million, up 20.9% YoY, exceeding earlier guidance.
  • Adjusted Operating Margin: 15%, flat Y/Y.
  • Adjusted Net Income: $67.5 million, representing an 11.8% margin, up 10 bps Y/Y.
  • Adjusted Diluted EPS: $1.53, up 19.5% Y/Y.
  • Cash & Short-Term Investments: $237.5 million with $105 million drawn on $725 million credit line.

2024 Guidance Overview

  • Revenue: $2.405B to $2.440B (15.6% YoY growth at midpoint).
  • Q2 Revenue: $585M to $589M, +18% YoY at midpoint.
  • Adjusted Operating Margin (Full Year): 14.5% to 15.5%.
  • Adjusted EPS (Full Year): $6.20 to $6.50.
  • Q2 Adjusted EPS: $1.47 to $1.52.

Geographic Performance (Q1 2024)

  • North America: 56% of total revenue, +10.3% YoY.
  • Latin America: 22.9% of total, +27.2% YoY.
  • Europe: 17.2% of total, +56.1% YoY (6.6% QoQ).
  • New Markets (Middle East, Asia, Oceania): 3.9% of total, +33.7% YoY (all organic).

Industry Vertical Growth

  • Travel & Hospitality: +66.5% YoY, 11% of total revenue.

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Arturo Langa: Good day, and welcome to Globant's First Quarter 2021 Earnings Conference Call. I'm Arturo Langa, Investor Relations Officer at Globant. [Operator Instructions]. Please note, 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 our comments on our call today may be deemed forward-looking statements. This includes our business and financial outlook and the answers to some of your 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 announcing this quarter's results. I'd now like to turn the call over to Martin Migoya, our CEO. Martín Migoya: Good afternoon, ever

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