Globant S.A. Q4 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue: Q4 2022 revenue was $490.7 million, up 29.2% YoY and 6.9% QoQ. Full year 2022 revenue was $1.78 billion, a 37.3% increase over 2021, marking the second-highest annual growth rate since becoming a public company.
  • Profitability:
    • Adjusted gross profit for 2022 was $697.6 million (up 36.1%) with a margin of 39.2%.
    • Adjusted operating income for Q4 2022 was $79 million (16.1% margin), flat sequentially.
    • Adjusted net income for Q4 was $60.1 million (12.3% margin).
    • Full-year adjusted EPS came in at $5.08, up 35.1% YoY; Q4 adjusted EPS was $1.40 (up 30.8% YoY).
  • Geographic Revenue Mix (Q4 2022):
    • North America: 61.7% of revenue (24.8% YoY growth)
    • Latin America: 22.7%
    • EMEA: 11.9% (43.8% YoY growth)
    • Asia & Oceania: 3.7% (110.5% YoY growth)
  • Client Growth:
    • 13 clients generating $20M+ in annual revenue
    • 259 clients contributing over $1M annually (up from 185 YoY)
    • The Walt Disney Company revenue grew 26.6% YoY and 8.5% QoQ in Q4

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Arturo Langa: Good day, and welcome to Globant's Fourth Quarter 2022 Earnings Conference Call. I am Arturo Langa, Investor Relations 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, this event is being recorded and streamed live on YouTube. By now, you should have received a copy of our 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

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