Globant S.A. Q4 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

  • Quarterly Revenue: $379.8 million for Q4 2021, up 63.3% YoY and 11.1% QoQ.
  • Annual Revenue: $1.297 billion in FY21, up 59.3% YoY—the highest growth since IPO.
  • Gross Margin: 39.4% in Q4 2021, stable versus 39.6% in Q4 2020.
  • Adjusted Operating Income: $63.6 million (16.7% margin), up from $37.9 million (16.3%) YoY.
  • Adjusted Net Income: $45.8 million, up 65.7% YoY.
  • Diluted EPS: $1.07 in Q4 2021, up 58.3% YoY.
  • Free Cash Flow: $47.9 million in Q4 (vs $20.7M in Q4 2020); $102.6 million for FY21, +116.6% YoY.
  • Major Client Growth: Disney revenue +69.1% YoY; 12 clients generated >$20M in revenue vs. 7 last year.
  • Geographic Revenue: North America 63.9%, Latin America 23.5%, Europe 10.7%, Asia 1.9%.

Guidance

  • Q1 2022 Revenue: At least $395 million (+46.2% YoY).
  • FY 2022 Revenue: At least $1.751 billion (+35% YoY).
  • Adjusted Operating Margin: 16–17% for both Q1 and full-year 2022 (flat vs. FY21).
  • Adjusted EPS FY22: At least $4.86 (vs $3.76 in FY21, +29%).
  • Estimated Organic Growth FY22: ~32.5% of the 35% projected YoY revenue growth.

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Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding text be unclear. The machine-assisted output provided is partly edited and is designed as a guide.: Amit Singh: 00:10 Good day, and welcome to Globant’s Fourth Quarter 2021 Earnings Conference Call. I'm Amit Singh, Head of Finance for the U.S. and Global Head of Investor Relations. All participants on this call will be on listen-only mode. After today's presentation, there'll be an opportunity to ask questions. 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. 00:38 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. 00:51 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 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 statement

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