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 ...

Arturo Rosenow/iStock Unreleased via Getty Images Introduction I "discovered" Globant (NYSE:GLOB) at an investor conference when the stock was in the 50´s. At the time I had difficulty understanding what they did, I asked what digitally native meant and how it generates revenue, whether it is a software company or IT services. Slowly I began to comprehend and then greatly appreciate the company's market potential and the value it created for clients and investors. Today the financial markets are questioning ...

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 ...

With over two decades of harnessing the transformative power of technology to empower businesses to be at the forefront of innovation, Globant presents this Network to prepare key industries for a new wave of AI transformation. Some of the Studios in the Network are Connected Experiences, Automotive, Media and Entertainment, Healthcare and Life Sciences, Finance, Airlines, Hospitality and Leisure, Games, EdTech, Business Hacking, Sports, Retail, Smart Payments and Sustainable Business. About Globant SOURCE ...

Core Insights - Globant has integrated proprietary AI Agents into the software development life cycle (SDLC) to enhance its development capabilities and support various industries in AI adoption [1] Group 1: AI Agents and Their Functions - The Code Tester AI Agent creates and executes comprehensive test plans to help companies deliver high-quality software more quickly [2] - The Code Fixer AI Agent utilizes contextual understanding of existing code to streamline the bug-fixing process [2] - The Product Definition AI Agent aids in the product definition process by evaluating user stories and assisting the development team in product design [3] - The Backend Prototyping AI Agent allows users to develop backend applications with minimal time investment, regardless of technical expertise [11] - The Application Design AI Agent transforms concepts into reality using simple text input, facilitating teamwork and enhancing the design process [11] - The AI Agents are designed to work in conjunction with Globant's existing AI products, creating a comprehensive suite of AI-driven solutions [10] Group 2: Company Overview and Recent Developments - Globant, based in Luxembourg, provides engineering, design, and innovation services, including data management solutions and quality assurance strategies [4] - In March 2024, Globant's subsidiary GeneXus partnered with NVIDIA to integrate NVIDIA's AI technology with its enterprise AI platform [5] - The company is focused on enhancing next-generation software development and digital transformation, recently collaborating with Adobe Inc. to leverage Adobe Experience Cloud [12] Group 3: Financial Performance - In the last reported quarter, Globant's revenues increased by 20.9% year over year to $571.1 million, surpassing the consensus estimate by 0.1% [13] - The growth was driven by strong performance across most business segments, with top customers contributing 8.3%, 21.8%, and 30.1% to net sales [13] - Currently, Globant holds a Zacks Rank 3 (Hold), with shares declining by 1.9% over the past year compared to the subindustry's growth of 1.1% [13]

Globant's more than 10 years of investment in AI are now reflected in an innovative suite of AI Agents and products to empower teams and boost results These new AI Agents will be augmented by humans and will impact the full SDLC, including backend prototyping, application design, testing, and more, to enhance efficiency by solving tasks autonomously SAN FRANCISCO, June 27, 2024 /PRNewswire/ -- Globant (NYSE: GLOB), a digitally native company focused on reinventing businesses through innovative technology so ...