Blankfactor is a U.S.-headquartered product engineering firm specialized in Payments, Capital Markets, Wealth and Retirement, and Fintech in North America and the UK, with extensive experience in card issuing, merchant acquiring, and securities finance. _____________ Blankfactor has grown rapidly by leveraging highly specialized consultants coupled with deep vertical expertise in the financial services sector. The company also holds extensive expertise in AWS, Google Cloud, Microsoft Azure, Snowflake, and D ...

Group 1: Strategic Partnerships and Collaborations - Globant S.A. is focusing on strategic partnerships to enhance its market presence and drive revenue growth, collaborating with William Racing to improve fan engagement in Formula 1 [1] - In May 2024, Globant established a multi-year partnership with Formula 1 to provide advanced IT infrastructure, enhancing the digital experience for racing teams and audiences until 2026 [2] - The company has partnered with Amazon Web Services (AWS) to assist clients in upgrading SAP systems and migrating to the cloud, continuing a collaboration that began in 2011 [4] - Globant's subsidiary, Sportian, partnered with StadioPlus to drive digital transformation in sports and entertainment using AI and data analytics [5] - GeneXus, another subsidiary of Globant, partnered with NVIDIA to integrate AI technology into its enterprise AI platform [6] Group 2: Financial Performance - In the last reported quarter, Globant's revenues increased by 18.1% year over year to $587.5 million, driven by strong performance across various business segments [7] - The company reported a significant growth of 130% in AI-related sales during the first half of 2024, indicating a robust demand for its services [7] - The top five customers accounted for 21% of revenues, while the top ten customers contributed 30.3%, highlighting the company's reliance on a concentrated customer base [7] Group 3: Company Overview - Globant is a global provider of engineering, design, and innovation services, offering solutions in data management, quality assurance, mobile testing, and game testing [8] - The company had a headcount of 29,112 at the end of the June quarter, reflecting a year-over-year increase of 12.2% [8]

Core Viewpoint - Globant (GLOB) reported strong second-quarter 2024 results, with non-GAAP EPS of $1.51, exceeding expectations and showing year-over-year growth from $1.36 [1][2] Financial Performance - Revenues for the quarter reached $587.5 million, reflecting an 18.1% increase year-over-year, driven by growth in various business segments [2] - Adjusted net income for the period was $66.9 million, marking a 13.6% increase from the previous year [7] - Non-IFRS adjusted gross margin was 38.1%, slightly down from 38.3% a year ago, while adjusted profit from operations margin improved to 15.1% from 15% [7] Customer and Market Insights - As of June 30, 2024, GLOB served 958 customers, with 19 clients generating over $20 million in annual revenues and 329 clients contributing more than $1 million, a 16.3% increase year-over-year [3] - The company's top five customers accounted for 8.3% of revenues, while the top ten contributed 30.3% [2] Segment Performance - Media and Entertainment revenues increased by 20% year-over-year to $133.1 million, driven by growth from the Walt Disney Company [4] - Travel & Hospitality revenues surged 58.9% year-over-year to $64 million, while Consumer, Retail & Manufacturing grew 38.7% to $109.1 million [5] - Healthcare revenues declined by 1.3% year-over-year to $42.3 million [5] Geographic Distribution - North America contributed 56.3% of total revenues, with Latin America at 23%, Europe at 16.9%, and New Markets at 3.8% [6] Future Outlook - For Q3 2024, GLOB projects revenues between $611 million and $617 million, indicating a year-over-year growth of 12.1% to 13.2% [8] - Full-year 2024 revenue guidance is set between $2,407 million and $2,421 million, suggesting a growth of 14.8% to 15.5% [9]

Financial Data and Key Metrics Changes - Q2 2024 revenue totaled $587.5 million, up 18.1% year-over-year and almost 3% quarter-over-quarter [5][22] - Adjusted net income was $66.9 million with an 11.4% adjusted net profit margin, and adjusted diluted EPS was $1.51, up 11% year-over-year [23] - The company ended the quarter with $180.4 million in cash and short-term investments, with $54.8 million in net cash [24] Business Line Data and Key Metrics Changes - AI-related revenues grew close to 130% in the first half of 2024 compared to the same period last year, generating over $150 million in revenue from AI workloads [8][11] - The fastest-growing vertical was travel and hospitality, up 58.9% year-over-year, followed by consumer, retail, and manufacturing, which grew 38.7% year-over-year [19] - The media and entertainment vertical increased by 20% year-over-year, driven by strong performance with Disney [19] Market Data and Key Metrics Changes - Europe was the best-performing region, growing 44.7% year-over-year, while North America grew by 9.7% year-over-year [18] - North America accounted for 56.3% of total revenue, followed by Latin America at 23%, Europe at 16.9%, and the Middle East and APAC at 3.8% [18] - The company reported a total headcount of 29,112, up 12.2% year-over-year, with a utilization rate of 79.5% [19] Company Strategy and Development Direction - The company aims to be the leading innovation partner for customers as the AI revolution expands, focusing on long-term growth and market share [5][6] - Globant is enhancing its capabilities in AI and sustainability, with initiatives like the AI agents to improve the software development lifecycle and technologies to analyze environmental impacts [9][15] - The company is expanding its GUT network, combining advertising organizations to leverage global creativity, media, and technology [9][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong growth and profitability, with a solid pipeline and bookings up 17% compared to the second half of 2023 [22][26] - The company is optimistic about future demand opportunities, particularly in Gen AI-related projects, despite challenges in scaling these projects [22][33] - Management reiterated guidance for 2024, expecting approximately 10.1% year-on-year growth in organic constant currency terms [24][25] Other Important Information - The company celebrated its 10th anniversary as a public company, achieving over 1800% in shareholder returns since its IPO [6] - The Be Kind initiative continues to impact communities, with training for sustainable design essentials offered globally for free [20][21] Q&A Session Summary Question: Outlook and Margin Confidence - Management reiterated constant currency growth guidance at 15.9% and discussed the impact of foreign exchange on margins [28][29] Question: Generative AI Project Scaling - Management noted that while AI-related projects are growing, scaling them to enterprise-level remains complex due to data and implementation challenges [32][34] Question: Revenue Per Head and Pricing Power - The company achieved low single-digit pricing growth, with a 9% year-over-year revenue per head growth driven by service mix and client relationships [39] Question: Headcount Growth Expectations - Management expects positive growth in billable heads in the second half of the year, with net additions anticipated [45] Question: Top Customer Cohort Performance - The largest client, Disney, showed strong growth, while one customer in professional services lagged, impacting the overall cohort performance [48][49] Question: Travel and Hospitality Segment Growth - The travel and hospitality segment is experiencing significant growth, driven by a large transformational deal with a European airline [52][53]

Globant > TECHNOLOGY THAT DARES to delight F2Q24 INVESTOR PRESENTATION INVESTMENT HIGHLIGHTS Pure play in the digital and cognitive space Organized into Studios, delivering domain expertise in emerging technologies and industries Proven ability to acquire and integrate complementary, bolt-on acquisitions Experienced and founder-led management team Global presence, leveraging next-gen software and the right talent and skills Strong set of Accelerators that leverage AI and other technologies to reinvent key a ...

Exhibit 99.1 August 15, 2024 Globant Reports 2024 Second Quarter Financial Results Growth Outlook Remains Strong, Executing on Profitability ● Second quarter revenues of $587.5 million, up 18.1% year-over-year ● IFRS Diluted EPS of $0.87 for the second quarter ● Non-IFRS Adjusted Diluted EPS of $1.51 for the second quarter LUXEMBOURG / August 15, 2024 - Globant (NYSE: GLOB), a digitally native company focused on reinventing businesses through innovative technology solutions, today announced results for the ...

Core Viewpoint - The financial markets are questioning whether Globant and similar IT consulting firms will be rendered obsolete by AI or become essential in its implementation [2][5] Company Performance - Globant, based in Argentina, has returned over 18 times since going public in 2014, growing at over 25% annually through 2019 [3] - The stock has been volatile, peaking at US$350 before the rate hike cycle, subsequently losing half of those gains due to lower valuations and decreased growth [3] - Compared to peers like EPAM Systems and Endava, Globant has performed better, as those competitors have experienced revenue and earnings declines [3] AI Impact - The advent of generative AI has led to a decline in new business for IT consulting firms, with companies reassessing their technology strategies and budgets [5] - Globant claims that AI has significantly improved coding and software engineering productivity, potentially reducing costs and increasing delivery [5] - Despite fears of obsolescence, Globant views AI as a revenue generator, as companies will require assistance in its implementation [5] Financial Estimates - Consensus estimates from 22 analysts suggest that Globant's revenue can grow over 16% with cash margins of 16%, leading to over US$300 million in free cash flow by 2025 [6] - Revenue growth is expected to dip from 21% in Q1 2024 to 11% by Q4 2024, before rebounding to a 16% growth rate in 2025 [7] Financial Summary - Revenue projections: - 2024e: US$2.427 billion - 2025e: US$2.818 billion - 2026e: US$3.353 billion [8] - EBITDA projections: - 2024e: US$494 million - 2025e: US$578 million - 2026e: US$688 million [8] - Net income projections: - 2024e: US$183 million - 2025e: US$229 million - 2026e: US$278 million [8] Valuation - The consensus price target for Globant is US$218, implying a P/CE of 24x and a PEG of 1.7x [10] - A year-end 2025 price target of US$283 is calculated using a PEG of 1.5x based on cash earnings growth [10] Peer Comparison - Globant's market cap is US$8.056 billion, with a price target of US$217, indicating a 17% upside [13] - Compared to larger peers like Accenture and IBM, Globant is seen as a higher-growth company despite the market's perception of larger firms benefiting from AI [13]

The companies will provide increased support for customers moving their SAP applications to the cloud ORLANDO, Fla., July 16, 2024 /PRNewswire/ -- Globant (NYSE: GLOB), a digitally native company focused on reinventing businesses through innovative technology solutions, today announced that it is working with Amazon Web Services (AWS) to help customers leverage RISE with SAP to modernize their onpremise SAP enterprise resource planning (ERP) and migrate to the cloud. The announcement was revealed at the SAP ...

Globant has been at the forefront of AI integration since 2013. From its Data and AI Studio's initial launch to its current expansion across diverse domains, Globant has consistently pushed boundaries to drive innovation. This leadership has earned it recognition as a top player in the IDC's Worldwide Artificial Intelligence Services MarketScape. Also, in March 2024, GLOB's subsidiary GeneXus partnered with NVIDIA. Under the terms of collaboration, the company will integrate NVDA's AI technology with its en ...

The company accelerates the adoption of AI through Studios tailored to make key industries ready for advanced transformation Globant AI Reinvention Network servicesGlobant AI Reinvention Network services "Discussing AI has become essential for any top management team globally, and we aim to be a guiding partner for our clients in their quests. With new AI uses and applications being introduced daily, companies require specialists to discover proven best practices and assess the value behind each solution fo ...