Globant (GLOB) 17 Aug 232023 Q2 Earnings call transcript

Good day, and welcome to Globant's Second Quarter 2023 Earnings Conference Call. I am Arturo Langa, Head of Investor Relations at Globant.

You've just seen our latest spot, showcasing our experience in artificial intelligence for today's market. In our call today, all participants on this call will be on listen-only mode. After today's presentation, there will be an opportunity to ask questions. is and event YouTube. live this note, being streamed recorded on Please now, a received should of By have release. copy you the earnings

have is copy not, our you investors.globant.com. available website, If on a

and today Chief Financial Martin Patricia Operating Technology Tartara, Chief and Pomies, speakers Officer. Our Migoya, Officer; Executive Juan Urthiague, are Officer; Chief Diego Chief Officer; Co-Founder

outlook Before of deemed our financial on may as be the our forward-looking earnings the business other company's I This and call statements like our release to the the remind to some filings with questions. would begin, risk to comments we SEC. you and some includes statements. of uncertainties that answer Such in and subject today described and your are

in our financial Please that note statements. rules we follow accounting IFRS

During the or compare we how the our which is internally non-IFRS in track to easiest way will peers measures, industry. report we our adjusted performance and to today, Globant call

find end a of will this non-IFRS press website and on Investor quarter's IFRS published the results. announcing we Relations of You our at the reconciliation measures release

Martin like to the to our CEO. turn call over now I'd Migoya,

Thank you Diego, real for will Pato, Juan Martin Good join everyone. Q&A. digital Martin, twin. and the afternoon, you, Migoya's Arturo. The afterwards I'm

of from today and partners expansion at to as we you Globant as clients meet in well a which to Cup to is sponsor. where our continue new the speaking local are Women's we have come our Sydney, proud with We connect team markets, World global as FIFA

a or any the every appear screen there use will of be engine. time For at notice bottom the transparency, AI we

fundamentals, and delivery continue we leverage great be discuss to of our solutions our and to with platforms, to happy greater another We of quarter. aim outpace strong With our array again industry. expanding to global network, are you

It and of the and made combined highest year-over-year our relevance, million. scope, with the This the In revenue quarter-over-quarter history, and our XX.X% depth dedication X.X% comprehensive $XXX.X been possible Globers. is quarterly by our growth, representing expertise, creativity, in revenue growth. was QX, total has offering, of

the providing sequential of strong thinking encouraging seeing year, about half second signs growth the are with We into as we XXXX. start us

optimistic to by also Digital Forecast Fortune market, report up addressable Transformation our trillion according XXXX-XXXX year. XXXX to reach are Business about growth $X.X the released estimated Market We this the Insights of by to

At technologies, and that unique transparency create our same environment are time, Globant maintaining humanity, technology the and to only and Globant, our itself, way a Clients and to planet, world best ensure we do while relevant transformations we it work the the society. provide to day picking partner a It's the to to stay nonsense vision through innovation We commitment at and want constantly to is to technology new a innovating our an and to kind and to AI way our fulfill provide reinventing services clients peers, the of absence their choose these latest AI but dreams in solutions, industry. every with to ourselves. our not professional digital with being culture. and digital build the

competitors. Let of me from Globant some explain innovations to our you separate that the

of First, own success. team. charter, their name, in our Pods, support inverted and our of them and proud the identity the organizational as Agile each with mission, It's chart autonomy job to its whole a management our

latest central been Studios. their of on These value and pockets applications to our to Second, technologies particular the our deep offering industries. expertise have

Studios collaboration continue the our will organized foster into Studios we as over have array Create. has four To to Studio scope the we them now so Enterprise, improve we as our among synergy, and Networks. Digital, services. grown widen Our better of time Reinvention, scale. of Doing

create. AI, use Third, the we and processes solutions our internal of in for both Company-wide the

our of our demand. finally, continue software increasing order And platforms, the solve leverage the meet expertise challenges AI-powered AI in expand that to to to space, we services industry. true our In products

widespread interest this with quickly. caused tools help with AI clients Chat year, them last in by our Late generative technology GPT, the to started we embrace new such to engage as

map of businesses. Our Then many initiatives teams their them these worked to into that with KPIs create closely to a specific and initiatives of to applied be proofs-of-concepts expand could comprehensive translated we reinvent businesses. their achieve

solutions Now many of these and implemented can globally Company-wide. be are that becoming real-life scaled

types we of see solutions. two particular, In

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recognized leader I'm also the June, happy AI field our worldwide. the in our being in to IDC in to value-driven services named through MarketScape comprehensive for affirming AI IDC early commitment Services see Artificial In Globant expertise Intelligence our Worldwide is that journey. XXXX, as a

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growth see computing. we Google Studio Services, to two Industry by call, the potential publicly Cloud just trillion Web announcing after line, a of last up on this shared Microsoft. $X.X Studios, creation in over Along earnings Amazon new cloud XXXX and have analysts

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first our how can months, we see this as AI instrumental in spotlight as consolidates clients Festival Studios capabilities a Create another digital at Lions XXXX that recent of I glad engage here in presented our the first marketing, unique them to of commercial creative when Globant into Globant the how introduce services. improve our opportunity International new Globant's performance with audiences. we In Lion and am relationships won by time organizations powerhouse same to Creativity. been and has at Create Slides. It its with our Cannes brought to our our we leverages even more Studio Networks. branding, offer got sales, also it recently Silver was our widening Growing celebrate offering

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of And now evolved integral by into to have the to that blockchain, grow. product X each now and our AI platforms. portfolio Accelerated technology solutions. from Globant specific I'm continues stand-alone to more enthusiastic see we a

like, Our MagnifAI, Tech, StarMeUp, of portfolio platforms Sportian, LaLiga evolution the and Augoor, includes GeneXus.

about Let me updates last share some exciting one. this

any systems, applies tools. of a By support this into programing to maintenance, the development to What language. to solutions user operations, array a development and of Suite AI companies low-code delivered. swiftly integrate any was has evolution now tools, agnostic of not development, given AI only also innovative of now and platform GeneXus processes, can it grown but solution, once enhances incorporating their experience workflows, the AI

and now AI can GeneXus to set customer can experiences. that clients' leverage craft deliver assistance data business exceptional processes

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delivery networks caters As goals. a globally, we both and that their capabilities to surpasses to best and we can client on these particular client give draw delivery network our each transformational customized expand

we in offices Related markets strategic Globant in plan recently a model. to the three now America, This verticals:, to will dedicated AI and the the were where cities eight delivery local new significant main have product be expansion, and main a a for months. investment XX of focus offering, development, this expansion including past teams. born announced our in countries, five-year our has XX investment we region that in opened growth Latin XX of

market. new other top new clients. opening of We research Globant quantum This Innovation a biggest improve for computing like Center to practical From Brazilian responsible be to our technologies are one center our the applications Subject and Brazil. AI strengths Salesforce create will Sao to Experts Paulo, also building Matter in there, applications support AI projects, of will in

development Sportian, investing GeneXus. continue our MagnifAI, as Augoor, will We in products the own of StarMeUp, such and

go-to-market leveraging keep and providing development AI to and accelerate increasing improve is outcomes to digital our software strategy focus for clients. Our our better experiences,

Lastly, we next XX,XXX keep in during by years. our will teams the professionals expanding five regional region the adding

Our a to commenced are that focus expansion. strong to support to potential become a great of our parallel, our new countries continue In Globant be presence hub than proud talent in We have for Latin Portugal. more to we see in American country will talent XX we growth. European operations say in

country's growth also and Portugal several during last as with economic organizations for years. companies their development, looking the interesting geography business We an transform look at the to capitalize solid

presence on July XXth, we Moldova, revenue. the the This Pentalog in XX% Globant new this, Romania, and of the incorporation France, that I'm to strengthens US. Pentalog's our Globers we completed pleased home announce family. Vietnam, X,XXX welcome to to of With expansion Europe, in Mexico,

Our clients many our growing projects have markets. footprint interest in of of growth particular there is global as these

our here held Global Summit Sydney. we week, in Tech This

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the to Tartara, over I it CTO. twin will Global digital turn of our now Diego

Thank you, offerings. solutions with very back array growing Martin. you excited be our to I'm discuss of and to

organize mentioned, on do and business, you intelligence, is way how ago, today. transforming vocal Globant the before of we we provide AI coming artificial very the Martin As wave of services, adoption see our teams. long was Many widespread the years remember,

AI the that We bring only into full are everyday will experiencing beginning life. potential the of

its game-changers harness on recently to have power their and quality, We can published of reports industries invite look the at AI how to will how on and new I is on media velocity changing entertainment, sports how a and and at operations. of you two reports.globant.com. improve future impact narrative the all the take organizations AI efficiency,

how advantages simulation, see will when We other we learning, from traditional a to potential years, AI, meaningful similar manufacturing, accelerating will with play computing and and learning computing to a and look massive as already quantum from can next provide optimization, be an that crucial processes, in of in benefits sciences, Now over few role quantum early innovation. machine their power, possible change computer scenario we competitors. in fields. providing AI, has finance, computing adopters Quantum's the machine combined separate energy, can accelerator life cryptography. out shift the the see exponential The

a in integrate Although in seamlessly can it partner order the we stages, the to proficient this they organizations technology. readiness for its need that so is reap They still for need recognize will they benefits. early ensure quantum

and tech clients. signature and be Globant's Given current industry believe knowledge our blend we that our proficient rising expertise, we partner between for can longstanding future

on color Studio track order we new Services Enterprise that space. to of and and in additional Web Martin Amazon record Microsoft Network. have Studios mentioned leverage created some Now, decade each in expertise the of our

spatial and Kinesis AI, and business challenges new more share from create and strategic Services, to infrastructure-as-a-service of AWS migration. our to consulting, help deliver our that me all Amazon clients and cloud AWS platforms-as-a-service, Globant's stakeholders cloud with partnership knowledge, and Delivery, understanding Driven almost security, analytics Web We platform technology government expertise Studio to and data, traditional can all Amazon presence, our computing. AI help that innovative clients new scalable our a our migration, DevOps, combine succeed. will covers industry-specific and and Let context. tackle by of technology deep technologies, global the top like comprehensive solutions strategy, this

enable Business capabilities. to of adoption modernization data, to the taking supports aims clients' AI, processes, obtain their strategy, clients' to IT the Power investments Azure-certified organizations a Azure for Suite Our IT a as manage, of of leveraging to will take Experts best Platform. the Microsoft's Microsoft This Studio Dynamics Applications maximum is partner and infrastructure and It need their analytics Microsoft Intelligent XXX and companies operations maintain Matter within cloud, also Subject such systems. cloud full Studio and and implementing and that value from and responsibilities and Data that AI, migration out monitor,

experience Among available In Azure sports space, and millions of a to applications we and of data effort metrics real-time rugby, each together for sports matches their including AI Open AI LaLiga for that in world. Microsoft, Using this tennis. Coach and team's say and live expand Sportian, are features, football evolution over but the creation we started generative basketball, this Head have the proud this service, for will fans to enhance subtitles Tech, and data improve This pilot reinvent will collaboration near launched to broadcasting. joint the sports and improves offering Microsoft of all with tactics of sports for the other facilitates and adapted all other visualization multi-lingual availability assistance.

let Now I Martin product shared our about other enhancing we our improving clients' how GeneXus. operations talk about offering. will news into are deeper dive products. by me

sets This from quickly label payment organizations based the up FinTech to evolved is scratch. enables space. Waasabi. and aggregation APIs digital without now own platform's First, offering a back-end It payments their fast organizations business white the capable and architecture track format. has the to into of on wallet a develop The a digital in space wallet-as-a-service enter having

undergoing currently Produbanco. with is launch its Waasabi first the major Ecuadorian bank,

it to the special to finance through a Ecuador its become country. who This it, first with Ecuador collections. corporate solution potential together FinTech Our depositary and to has particularly financial for reseller of and for Produbanco, inclusion in bank, digital of advance project in the want the whole payments their we and demonstrated platform Produbanco is Globant, offering the its is solution because clients power embedded Waasabi, own and

assistant relaunch announce for management. like I'd service of MAIDA, the Next, platform, IT to our AI an

As to overwhelming systems. we listen many organizations, and cumbersome of of IT find ticketing struggle with our clients, them, that challenges we the particularly larger

management applying assistant, As with bottlenecks. sciences to IT born and an find of tickets challenge optimizes to platform month. process priority and the over mining This accelerates work largest AI was sector. major companies XXX,XXX conduct MAIDA organization simultaneously a in priorities AI was This to and per out by services their our procedures the internal streamline receiving map their life ticket through tool, of experiencing ticketing one

two-day times service Our This AI a reduction in in them appropriate efficiency variations and ticket management. team. resulted assistant connects anticipates XX% to and ticket the more problem-solving, in three ticket management resolution, faster

Now, some our more our work with on continuing clients. news

biggest goal the technology to value working to which transformations. we year, business their of a is began undergo and engineering The partner area airline, functions, enabling the as transformation resilience for own they with digital project, technology aims the three-year Over ensure strategy. future the as the past rapid reinvent Iberia, Spain's

the agile In addition of program to project, we talent region. sharing our culture, a the including around growth with delivery capabilities we partnered improve Through Iberia technology services, to performance, Globant future strategy, our product are have and young centered things, providing models. doing developing in this create the to talent industry-specialized our way our

transforming market. has are been as steadily products face-to-face experiences digital traditional industry into into launched towards pharmaceutical interactions The the new moving

go-to-market transform one in an on the approach with of sector fully the their largest to are We strategy. players working

of to the Following innovative the result more data-driven enable this relies new connections will driving while the fostering their engagement healthcare capturing digital success experiences, will model experiences points These on professionals for strategies, boost touch proven in community with Company. with and products. personalized intuitive, new simpler, stronger specific that their data

last that quarter Enterprise expertise its Cloud Studio, own into part remember the our consolidated may Google You of we Network.

brands. a major more to quality enabling we and was Thanks our to product them Their past urgent the with KPIs. business to Studio, marketing Google the calculate each and reconcile helping with Studio their record us company. achieve our data work developments they platform three fragmented over single organization company on After own platform, with source. not approached ecosystem with the and data Google two and for and on Data KPIs the the analytics from from need a a quarter, commerce leading toy reconciled building partnership expertise years, we analytics AI through track This have delivery a our of for the

Latin In in first banking helping region. app Itau bank, are them Unibanco. working release the region's largest Through we're America, GeneXus, with we super the the

current into access Our application. several Globant application and the user the super integrating team into leaving and the payments app, without services customer technology, engagement, a boosting to convert their platform, services to provided services facilitating product and mobile partner solution,

now Thank attention. time to hand it over you, for your I'll everyone, and Pato.

It's afternoon, Thank and you, Diego, everyone. good to be great back.

with kick-off clients. our Let's

As our strategy grow relationships It to serve of array new for generating sources. time. our Globant revenue our with results, show continues and ever, this objective greater XXX the deliver and quarterly and collaboration current squared clients has more you revenue over also with able our to top advance in ones quarter, growth as as our even services major geographies we been diversity to know, we but highest were aimed our expanding a new at

now million have than annual in We in revenue. more XX clients $XX bringing

that annual more than year provide than one million XX.X% revenue, XXX of clients have $X We ago. more

came year-over-year stabilization. by signs XX.X% X% and X.X% Disney our accounts X.X% account, and of Our Globant largest year-over-year rest of Walt grew by quarter-over-quarter. The and quarter-over-quarter, declined collectively The Company, XX.X% showing revenue revenue North our and well. In its from America, as XX% Asia QX, sources XX.X% America, is Oceania. also from EMEA, of from Latin from geographically X.X% widening

As to based our strategy of likelihood our our on of satisfaction our our current widening ever. referring is their and networks. laser-focused XX services with achieved quantifiable of client our on QX, Net Promoter their an Score XXX we their within assessment squared we best NPS a as remain and Globant In us clients, organization

from Our for months now trailing to average XX NPS increased XX. has the XX

Globers, XXth, As June were of IT were we XX,XXX which of professionals. XX.X%

than now more a July, full incorporation is XX,XXX of Globant the With of Pentalog creative team minds. in

Our the was X.X%. history the lowest currently QX annual and attrition XX.X%, is in over attrition our rate

are the to We to culture as to to with global brands industries, keep an of delivering multiple regions, committed Globant's and identity projects innovation. and experience exposure geographies, best Globers combined accelerator a enhance beloved diversity and with with in

We to efficient aim effectively. also to count, utilization attrition and head drive proper hiring, manage

As of stood XQ ‘XX, our at XX.X%. utilization rate

levels, current we talent a forward. with the market flow confident At in and stabilizing, to our are ability labor of have healthy moving

that up specific more teams even pool, readiness, interviews. even new Globant leader value indications the staffing positive ensuring use already delivery. leaders better are talent with of organic build project will our conversational the helps preferred Slack, to This teams we quality best mode, each agility, with our channel, see we same set-up leaders request within launched to all with proposes to pertinent each into and on We of and internal that the Globant's this maximizing skills job these to pool This and can information. trends trends our and assistant to AI-based objective create now strengthen anticipate performance assistant communication and runs seamlessly to talent new the speed hiring a best systems fully an starting basis, In continue and high-performance match assistant Globant's a on suitable of career Under in and seconds. the works candidates HX. the

view encompassing a interconnecting talent and Globers' readiness concept known feedback, the promotion at development, challenges, ensuring exposure leader's and we among It performance others. and by keep vibrant all and Globant to for a technical skills growth To level career a holistic of core accelerate Readiness to Model. of new assess developed path assessments, as aspects Globers the tool data-driven provides

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want year, provide that here take serves career Globers own in-house continues open the than platform team, path, career new than alone. new Globers perspective. our our more challenges at promotional Globant and opportunity development and able right Globers to Globers further with hands, tool career have For entered new More the find XXX even way. in their within a into been offer to to their this to XXXX QX fields In Globant as past

in active nearly skills evolution use total We than X,XXX enable learning with than about on have expand hub, learning proficiency Globers working the levels enthusiastic tool intelligence, increased the our each utilization career Globant progress and new can this range development learning artificial skills Globant regularly that knowledge at the to own of XX,XXX of standing. the Globers Powered Combing ecosystem. University, specific the are in to level. and increased missions XX% expansion year-over-year. are track reach each of provides their the their expected More with more platform seniority and MyGrowth also the MyGrowth. in relative and of Globers a and increase continuous their mentors hours of There,

XX,XXX offer globally our Last to impact different keeps Kind Be backgrounds our XXXX. by people driving broader scholarships Company not on technology study community from we greater committed initiative In least, and stakeholders. XXXX, to but to

in particular countries. socioeconomic and have We women underrepresented on including developing focus minorities had profiles,

scholarship we more Within Paz me the makes a Through we conflict training Malaga, provides who peace. of improve Last for opportunities towards special that the a year, all Construye boot skill have workshops, lessons shared initiative our forms especially Colombia, Globant announced you this to proud. in in launched XXX alternative Code their new I people. employability transitioning XX,XXX Colombia initiative, last by offered individuals scholarships quarter, industry. this to camps, with Spain. of Future in already Your affected technical program, and to technology the including in series are than access program And education, internal The soft program

We than have currently this and training expanded individuals. program cities more to four new XXX are

on finally, I'm Women announce edition updates And that happy fourth the Awards. to Build the of

support of NYSE, global votes. With ever stories for stage nominees response industry Women in partners through inspiring of stories. Salesforce, like Hub, awards, diversity inclusion the over the our the promote our Corporate their we year's XXX,XXX this and so largest look the Directors, more that with and winners receiving the Udemy, Coach sharing nomination and forward X,XXX We can to concluded

hand our financials. With over discuss that, to it I'll Juan, to

Greetings, be here you this good with everyone. It's to back afternoon.

for We and their we our making are in extend and excited dedication about we achieved gratitude the it clients all support Globers happen. to outcomes our and today,

million. achieved XXXX, highest We solid are pleased to of totaling QX year-over-year of increase that quarterly report $XXX.X a revenue XX.X%, in we our representing figure, revenue

delivering to Our current performance results. environment is a testament commitment in the our to excellent

operating executed presence in our M&A expectations initiatives met adjusted we skillfully margin Our to broaden and guidance Europe. profit

we achieving XXXX. indicated our XH As we growth confident sequential call, in revenue earnings strong are previously in last in

remained strong. expand to remain discussions while and quarter, with continues Our customers Company the again second our consistent. about pipeline In long-term strategies conversations increased client

creation short-term see to of fulfill and backlogs in new to improvement revenues. of new some the closing bookings continue we Additionally, the

XXXX the the in half of half over larger second first in are Our than XX% bookings XXXX. those

year-to-date North growth. two Also, $XXX X.X%, above year-on-year represented revenues markets earnings X.X% at million Our QX our are America our EMEA in $XXX.X solid revenue calls. of X.X% level, us and as million new already forecasted sequential X.X%, growing XX.X%, XXXX bringing growth, quarter-on-quarter, a previously XX.X% QX LatAm to revenues with last of at XXXX at the

We top spending improving our XX patterns witnessed across accounts.

second quarter sequentially. performance showed account, Regarding revenues signs our of top flat with stabilization Disney's

sequential X.X% We improving two X.X% growth of and quarter-over-quarter Company buckets demand XX For experienced of QX, XX now light we average to XX expect trends. respectively. our similar growth to in in sequential client and to the

QX, contributions standpoint, percentage year-over-year overall we inorganic posted points From approximately sequential vertical accounted our Additionally, notable industries. improving a further for growth most growth six in in performance.

Entertainment not in Our large media growth Media handful and Sports positive in driven Entertainment our a a a rate, but only companies. also by experienced segment X.X% division performance and of

of Telecommunications still X.X%, minus our As indicating moderated clients. across many present pattern more a expected, Technology spending decrease slight high-tech and saw of a

seeing of are of year. half this signs into we across However, looking stabilization vertical the second the

growth Hospitality seen at Services X.X%, Professional Travel in X.X%, performance at was Manufacturing X.X%. Retail, minus flattish Consumer, at and Positive a with in and and

X.X% demonstrated exceptional outperformed Financial with units exposure We business ExperienceIT. Our Services, many financial Banks, and Insurance by helped vertical XX.X%, an across quarter-on-quarter of growth growth. and Healthcare our institutions recent large note global our to rate geographies. an of acquisition

company-wide Our of X.X%. rate other verticals category quarter-over-quarter solid a grew by X.X%. All drove in, growth this

our and basis profitability QX a gross to delivered XX.X%, year-on-year net another growth. profit quarter generation. gross XXXX, margin quarter-on-quarter, points of with XX.X% XX adjusted increasing In reached profit income strong up $XXX.X million, We adjusted

FX countries. some appreciation experiencing marginal in are We cost driven by most headwinds LatAm

provided in May. was operating for adjusted range XX%, guidance the we the Our within margin quarter

SG&A, last adjusted basis XX XX.X% at of sales, points quarter. year's stood Regarding compared to down this

As for quarter expectation specific was taxes as initial below-the-line the XX.X%, items, our in rate for slightly effective our lower guidance tax came geographies. than IFRS below in our

increase average income up points $X.XX net on diluted our margin, an XX.X guidance, income million $XX.X reached an XX.X% above adjusted based quarter-over-quarter. net shares. was year-over-year $X.XX, for the XX.X% QX XX diluted EPS Our quarter basis representing adjusted million in Adjusted with

of Regarding management, sheet and as short-term $XXX.X cash cash XXXX, balance equivalents our and QX investments million. amounted to

credit continue quarter, improvement allocation XXXX, $XX.X million strategy. liquidity we to by the a have same and period approximately from working to undrawn significant $XXX revolving million, the million to owing year, to million quarter, the from free capital last tax in facility end-of-the expanded $X.X management. in Year-to-date improvements $XXX cash execute remains we in our used produced and of M&A and our and us flow, capital During fully the our ample it providing resources

and the quarter let's full the forward, discuss third Moving year our outlook XXXX. for

most the Our outlook and third July. in would closed acquisition, the which positive the trends I finally in with news. Pentalog's the full you like business by to and incorporate from contribution all year of provide of first quarter recent end

in Our thinking strong constructive about growth QX, like-for-like increased revenues, of QX guidance for the both the positive This in year markedly in and total to industry. of higher terms us a basis, start sequential more coupled confidence XXXX. in implies a and with than trend the on gives market, rest growth our

and sequential of X.X% year-over-year at revenues least million, We increase. anticipate QX growth a $XXX approximately reflecting XX.X%

As out we final indicators of bookings the XXXX we encouraging first revenue during of a XXXX. evolution quarter, months pace throughout formation to of called compared and perceive backlog of to and continue half underlying the the an last our positive

Excluding are the Pentalog, X% implied quarter. we from approximately over the expect inorganic Company's with second the in third rate growth similar levels. aligned revenue long-term at growth expect The The is fourth for we sequential quarter-on-quarter projections contribution half run quarter projected our goals.

our Pentalog. XXXX basis a figure In least $X.XXX considers now basis the our points, year guidance at year-over-year solid growth billion, of and full XXX about year figure. expect points XX.X% be previous to terms XXX guidance, of growth from above full top-line guidance we revenue This

the adjusted now From our third a in XXXX. profitability operating margin expect XX% income for range of to the XX.X% perspective, quarter we

XX.X% our XX% XX.X% and to the For tax is expect to for rate XXXX. XXXX the XX.X% expected adjusted the range be the year effective income in margin range. full to full both IFRS year, now QX in we operating

average expected least to QX $X.XX, EPS diluted assuming the adjusted be shares Our for at outstanding million XX.X quarter. for is

$X.XX, diluted EPS assuming our average Finally, diluted the XXXX for for is expected shares be year. adjusted to million XX.X

coverage in and your and everyone, Thanks, for the support. for call participating

[Operator Instructions] everyone. and Tien-Tsin from with JPMorgan. hi, take So, we the and go Huang ahead. much, this thank question will Juan, in please first very Tien-Tsin, mind, you, from you Thank

is line open. Your

you, results, growth Thank the outlook Hi. Arturo. Yeah, good encouraging. and is sequential

rest in as the you to Martin. or So, I correctly. of that sounds on a work saw pressure, make Love large caught like seeing under I'm the hear I'll this what projects It curious similar to Juan, theme different maybe that's here you're deals we discretionary short want of than just organic ask second with expecting through, that. group? on being that cycle the coming sequential, are so your And thoughts we quarter, sure outcome but

first the take part. I'll

first the take You part.

you, thank question. Tien-Tsin Yeah, the for

X% actually the fourth think sequential number a little growth. numbers terms about growth the it's I going X.X%, as growth, compared be increasing we for So, QX especially at industry. was organic is quarter, to into for about rest are the yeah, The the is the organic in around bit sequential QX, like good look almost then well. of showing that That implied which numbers of very there And when to X.X%.

So, growth the improving. is clearly sequential

year consequence I of same better. the and as the see -- February see about largest that We of level getting well. it's getting in customer better Disney stays slightly deals started actually getting our to again some have of of talk Disney we closed. back the the think started to trend We a now since the beginning it's that and bookings and we been to signing level deals started that

as once next year. indicator you all, in which to all we organic pointed out, a in getting is again positive into sequential X% quarter-over-quarter, growth X% the are So,

on the very today. much and thank second joining Tien-Tsin, Yeah, of question, part the you for

are before, is which the seeing pipeline the much but small deals. a historically by and is projects We composed larger pretty deals not highest longer-term by composed pipeline done

the a pipeline. much positive when XX it's quarter, change very top And top right XX first results. -- segments, five good first five the is the the is on see than pretty on trend to better So, seeing mean, wide I we our we're announced XX from than both to are we quarter now. the pretty extremely of that. In range to or -- and customers XX, top sorry, happy sorry, XX -- to In

for rest Difficulty] it is rising bit. little So, rising I'm little of like and the positive year looks the bit. not [Technical the I mean, it's sun a a

Got early here well, it. it's in also Yeah, Australia.

the I'll probably quick Real So, it's headcount on the and floor. case. cede

right. Exactly

really It's we here, here. but early are keeping

question. the of utilization. I to Thanks. my demand is side, maybe expect I had. always headcount, between and we seeing? You on the utilization curious well headcount guys to guess kind utilization headcount what and hard. of just that year That's on there room That or all I'm the growth plans the you're are maybe balance working grow with segues here balance as to we look can are actually

little Okay. Utilization in last has for the of now months. growing. a but going down, the Well, terms been the a headcount Thank it has to second -- the you are we of has year half your in in up working in last of question. been the couple keep appeared half keeping first like been have we on lot that

what we next is for the of we that the that So, going the expect year headcount. to going I are half rise to are think

pipeline attrition be the the customers second is as strong longer, We history that are have mentioning. main Globant, are is another that good lowest think indicator can I our in was are so you. half. think Martin correct to that, Thank we that The confident with we keep pipeline -- partnership achieving for going I very going to we very the so that the -- the in path we that the are also

Tien-Tsin. you, Thank

you. Thank

Citi. comes Thank from from you, question Tien-Tsin. Ashwin Shirvaikar The next

please ahead. Ashwin, go

Your line is open.

yeah, and you, morning. Thank good

Good morning.

if talk the on also capabilities Maybe numerical could that you Yeah, into about yeah. of beyond obviously, of sheet that inorganic expect because about and us. remind just ask specific from Pentalog? well, well. bit versus just help that little use organic little layer a results good good deeper contribution, -- bit Pentalog? the a balance sort Could of I can out you separate I And contribution the wanted you as to mean, get as you

you minus year, peers, X% for from So, peers year-over-year guidance the is growth, is most our of the Ashwin. thank were positive. our look again XX% into strong extremely you, new Yes, which to when about look XX.X%

Globant. the about is higher-growth And If did and estimated million, organic this revenues Pentalog, of acquisitions early decompose $XX $XX year. about time. So we full about and of about for for which comes are year we XX.X% then talking points is growth of year, we XXX impact the that, specifically point year-over-year. the late want growth in this basis we are estimating we XX.X%, to year significant from at that last a the Pentalog talking million rest at million, $XX that

for the the of including are year. rest we what that's So

in the dimensions. seeing Yeah. And Pentalog second two part different question, we're the regarding of

in first bigger one now much before people delivery locations is into -- Poland, The now have and more like didn't we now in Romania, into like geography, -- Germany we or and have sorry, and expanding we smaller, with have than like France, other in about we also we're Romania. X,XXX expanding operations have it

were into into I let not And destinations are Vietnam, other table. now into Diego Pentalog to explain there. bringing Morocco the expanded are things will we technological We the that to

in of have aspect to actually, Pentalog, terms bring do of with Globant, are talent. now and the super to and has an it have So interesting full their that working together tooling in Globant. they very use table the in to model they the They is think that delivery delivery, for to their I scale key incorporate at approach the innovative we a

clients and delivery, in new think most already but happening. like not only In out regions, their terms reaching is in that's of base Martin of of capabilities, to client terms up I terms the aspect, our to expertise, said, opening and bring important

it. Got

Sorry, go ahead.

great really been and that's integration was Pentalog with No, really smooth. has okay. The

all start has. to Globant cross-selling able that been have their working with clients and -- we their capabilities the So

I was this this is was acquisition, about past. smooth and really think that that important So a really thing

see very So we results can the very, shortly.

supporting should first I little through The a of is growth margin is than still there specific is you're had Understood. course And I bit the component? little the Understood. What's on is on? think that of this margins. you before. higher half mentioned the having the through the make lower And sort investments the at current kind range the second a of for significantly the think rate? Or -- one, pricing And exactly is top improve that end question year. going to you in bit the talk about Could a the environment? purpose of margins

to would it to points gone XX% Brazil, the recent has we of appreciation at is a US changes X% -- our just happening for has Colombia, Look, market, especially if dollars, has margins. in that the But you impact two on anywhere between Latin base Chile, hasn't it look been therefore, improved, direct in seen the America, if I improvement. would have the what the an implication cost X.X months. in Peru, X.X% probably US on in and And of dollar around percentage a nice FX say,

coming investing of a always, good strategy, are we we some in keep -- America. year. of on So margin very we on -- the we actually, from the of that now growth are and out, as dollar. growth keep but investing industry. above indication a you as the And a you the levels we the down US that expectation the rest yes, pointed said, we the the were headwind for expansion. we very But a are lot seeing on -- appreciation some putting on out has were in half recent improvement of little front, Latin well that year, FX half as doing first of of second meaningful Yes, we expecting the actually the expecting bit, of things, That come are -- were because

Understood. Thank you.

Thank you.

Thank you, Ashwin.

Thank you, Ashwin.

Thank Ashwin. you,

from comes question open. Mayank is from line Tandon your next Needam. Our Mayank,

and much, peers, you already the 'XX, think quarter Arturo. so Juan math you you the are given expect Well, growth thinking to exit the so when you we Thank ask is a wanted quarter, so about the rate on to of return congrats great. the maybe to first I do fourth by terms it to comps, reasonable XXXX? your easy relative I XX% in of said, impressive Oh, very XXXX, on

the is what that's Look, math -- the Yeah. math saying.

different we sequential will you seeing growth will year. we at So, early, we February. are But thing know, when we provide next be right? is still very guidance year, thing providing it's optimistic the clearly, in about course, Of to one next -- XXXX seeing a into beginning are are of formal and get and you decreases, is

closer our market I are it's look you and peers, are all about getting early think When closed, at going We seem it's single-digit the say, be if but, in XX%, up, is seeing to to [indiscernible] to half it's optimistic numbers. far, I the they need right shaping get the you it's maybe the is second are see of if change. we looking double-digit in to do okay, it's still deals so be are be there going believe But going to know, be year you right? the now XX%, or we validated how to know, into what good. okay, that any end is to

of in terms And at Every it. Got it's look news quick bad. follow-up, Disney, a just item what's then wise, as we changing?

some give the just you terms And of in from you actual you? should through Thank half flat or us expect for could color improvement we in growth second as trends sequential of move we XXXX? expect do changing So, at you. terms here what's of Disney

Well, and of this question. for I to it will everyday operations, announcements their they challenged, and a take that still process evolve are first year, of need that solutions. of in optimization what more and quarter second many one. see is the quarter that of has how changing this their portion do, gone during the evolving they of down, change. and let that go, year they really Thank you and it interesting up going people didn't get everyday about the large and they technological around and the bigger things Disney And to a public moving have scope needed been of but through the was more

historically been to months and traction what we again on them, for technology, few do Disney the services in and we we good a our partners seeing has very have some on lot last So, on invested are them. like

side. on so direct-to-consumer and on forth side so On the side the Disney parks also the plus,

So back. in both places is demand

we trend know. for the So think and that hopefully, continue we will happy never way, are I let's very see, going that,

Thank you.

very You welcome. are

you. See you. Thank

Thank Mayank. you,

go William Please Nolan comes next open. ahead. question is from line from Maggie, Blair. Our Maggie your

Hi. Thank you.

Maggie. Hey,

Hi, Maggie.

that takes What I back do ask and but to growth? takes about of bring clients follow-up within think average that you wanted question, through cohort. group puts to and up kind company to the what that there ten, it on the are two

accounts bit squared call $XXX kind you the ten in has a you with of did Globant customers of right, perform is growth million and one and But overtime. in-line down that the took Yeah. potential what customer to average. we on of there XXX a the again, strong do that have always know, a accounts, is portfolio specifically very company There to not know, combination two the numbers just little

is quarter, know, in was So sequential like this an sequentially, sometimes Sometimes a X.X% think you amazing a in industry. is interesting part group of that it's customers, potential every have Disney total here sometimes the growth growth, that single organic it it's to and able sometimes right? of only X.X% we but one we customers, company, I flat do were still portfolio sequential, accounts high

So, positive, right? that's another

concentration don't was quarter have it was like which mean, single sometimes flattish. maybe from and be we media, financials, industry. this in good, this specific come quarter we might from to I tend one quite sometimes the it might Hence, from it diversified sometimes revenue come travel,

all, each down, Short-term, a the that portfolio is have that… drives mid growth the what in one have you in industry, think but most in long the may all term. very and companies up So, and or successful I we diversified customer, of

it board. But very clients, has And the so action see the clear growing the on yeah. pipeline on clients Maggie, top Yeah. pretty pipeline, regarding much across mentioned, the a we those you that

I approach we But that accounts, now goes a other we squared we that the in a regions. have are year that we another all-around in have then we have it those that one have we a one one have And keeping global in I of know, I LatAm, the bases, specific accounts we XX the those in global that. named that strategy example, go all accounts think have ten global are is in accounts, that that to a accounts, we Europe, that working is in mean, that know have have have Global covering we by Accounts. the important Like US. XXX going is the we mean, different or we thing we're is around order account is of this have been expect Mexico, the other And and then, this of terms in team I world. strategy last you Santander strategy markets and that cover for in is don't Europe, regional to have that global we have the XX in kind LatAm, year, lot the specific end now new of probably and growth. put team Right

account So, approaching, of I think we another growing in that the are how is way Globant.

understand expand about Latin out hiring to forward, efforts, several you you the is think excited there about, in the when than strategically this maybe the that then last in you you're differently large for years? And investment you. about can me what announcement Thank including region doing approach the you're most different how help going to you Helpful. America, the put been going what what in you've

Yeah, sure.

and given on the America Middle Latin double expanding, in we that's We have been in America. explaining back APAC, we seen that And with a international world, think after Latin around down as to in have events, relevance it's the simplest heavy events, of operations now believe that. certain strategic importance Europe, East. gain time to you all way the And go presence time it's

countries specifics which many in we pretty growing growing delivery of different operate that in our Brazil them. all centers We operate. in the is much Now our operation, of

AI a American to and expanding developing developing need years six, five, this. think probably investment, terms is in Maggie, long-term Latin talent, the that, how of market. So about you It's seven into

Nicely all. you done. Thank

Thank you very much, Maggie.

Thank Maggie. you,

you, Thank Maggie.

Bryan, your open. Please from go Our line TD is next from question Bergin Bryan comes ahead. Cowen.

Hi want types. all. start It's on program I see to you. to good

conversations here. about I'm versus I a little of that? pickup if seen or client projects can from as So, to programs hear tone around you of cost efficiency you growth-oriented have to related it's a it of more if curious, relates for certainly nature constructive inquiries you now theme the growth-focused, still notable talk the a early a more

the Sure, you much Yeah. so question. Thank Bryan. for

quality seeing an projects. happening are of terms that the is in evolution We of the

space the oriented, we in are cost on know happening the up the which in Globant AI they now oriented to is Create more on market. are, that were a connected providing lot you projects And that they picking the on side. everything Before still seeing space, more but digital savings we're

digital evolution We digital to lot sales, terms are into seeing digital marketing, of performance in the offering our a create how practices. with main integrate branding of

individuals a the last focus were projects efficient. we happy predominant that AI that everything are of to say, and happening of And is that, So, whole five, I kind much AI, have. to systems that and addition slower restraints for AI would in the time, -- up the more because given is but demand slowly. now with six past as AI to long evolution, still projects trying they adopt on this still larger become quarters, we the Corporations said during see are of will be than and based the technology picking quarters,

I there, will be those we digital thing kind and they there will will this projects saving But cost interesting of So, pick moving projects some more the see still, up, forward. of are for time. and think

-- then Okay, understood. And

on reduces dramatically. a different example, changed development. But bit it’s think within a conversation, approach little add to in kind telemedicine, I efficiency, the healthcare, color is the the cost to still better it's new and operational technologies, brings an about of and of the as we're Like, The an just I we're from just experience. it perspective, intersection. doing think which cost it adding that, long-term in talking saving but has

And the seeing So, to slowly QX. during starting change that think I we've that's been happen. is

Okay, the Studio. is Platform Enterprise that's helpful. follow-up Thanks, Diego. on My

seems skill big gotten lean successful. a it us Is does studio you around particular of area development? talent how give be you anything there sourcing versus for can of different change as So, quite way this into software this sense this studio you're talent to acquiring a your heritage custom separately, It has for you? how in base And just further, area?

first take different migration I the Yeah. Will There's terms on clear own part back need do space things way Pato. in Salesforce in of how of a at we're enterprise a or need of the a into space, answered way so on that and the be to the cloud about companies backing forth. to to specific to enterprises from and answer the end of own from their digital so working SAP second processes, the customers talking the this their one. going question care the to, let and pretty in of by There's a bring side, area. will the they

the tired about And people the old -- specific practices of that in kind doing things of are space. they and old way

fresh they So, approach for players we're -- because now like are -- problems. betting those that bringing to for to same Globant, Globant that

R/X Something how is the seeing S/X we are for SAP, from to accentuated. -- general, example. in is of But demand migration also, S/X cloud HANA remarkable the migration very in

Salesforce totally a things. growing to are But how we we technology, it, I good, understanding how different one do that this that's technology studios is call seeing what of from up of is and our others strong a cannot competitive get would that that's our essence, how to from of fast. there. picking too. that very And largest are is like very why reinventing And demand in us, buying space, customers in enterprise advantages, network manner, create to implement way which

to In terms will of Pato I talent, complement. let

(ph) the the I client is what order as [go of talent have on interpreting] this mean ask terms pace. mean, in of always with because specific way prepare at not changing the those kind that the are when we doing. We Martin as been and you. us. we doing that. same in specific is that Salesforce that mentioning, we mostly of Of it's us hire and are I was things to thing But same all course, we achieve help probably only what The doing skills talent hiring, and more thank have are the partnership we the

for our technology and them We world, world. going terms opening offices. the I at other is different are the not part -- we we this mean, gaming different some not the best offer we the looking that talent specific it's have Globant. That expanding the of studios. around studio. are we launched as operation But in treat are we the or this specific into XXX of it's in when specific But of keep launched studio as as difference. this we All

they client was experience of want they of this just partnership, When we of all wants that. because the want kind the a that Globant, talent, comes it's because and kind this approach with not technology talent the and the and The that it's that that this in approach culture last mentioning of Diego the of studios the topic, Globant, the that also that marketing, couple in have we terms months. solution only specific in all not create we consultancy, of

that We grow talent So, I question your inside think company. to the keep talent. we helping the the keep going about growing talent, the

been reskilling. with has have -- initiatives putting in We to place we keep do many upskilling, that training,

our We in apply University artificial the talent doing match. of have the in Globant intelligence terms

version love we of keep do what doing to and right? is care our Globers of taking themselves, So best most have we the

I in If a may comment. chime with small

a think you're there's spot on I to with regards definitely difference.

that the partnerships, big required a the talent change. In on this the they care core, full fact, the thing we of taking is differences remember within actually heavily the and the studios, enterprise about organizing from is is talent this studio, and that, about the most And at of the is to certification. career But that, delivery. and pipeline that good we by are path attracting are the based --

this actually, It's our butter. how do So bread for is Globant, and we things.

Thank very guys. you clear. That’s Okay.

And, on comment last one that.

case Sorry, this to part you people enterprise are to industry. of an joining this they're of They the of Globant, belong thinking market. and to the one do trying whole us. really the for more big, is is very do are that And to very that like different and joins teams many on joining are reinvention to something people And a like is people story People are a the of why this not hit that that is that specific Globant, comment And point. joining do. to studio. of what be

ahead go question. Sorry, your with

all No, thanking I details. was you for the no, no.

So thank you all.

Thank you. Bye-bye. See you.

you. Thank

Thank you, Bryan.

question comes Please Our from from ahead. Surinder Jefferies. next go Thind Surinder.

Thank you.

a potentially does maybe two every to here, you isn't years Studios what assume like Studios and I unwieldy, launched So, structure strong? become for then launch. you point about to Studio happens bit two the that the you've something probably back that got Studio like seems new going At first the quarter what question question, or that it my ago, a where Meta uptake just

So, I'll take it.

we the Studios. are we a of and maturity of So, actually process that And evolution are is sense. one Studios makes there whenever things but -- -- Studios us it launching makes launch -- also combining

like Mobile, be example, of now Just there portion Studios cetera, experiences encompasses can were Development, now that lots we what that call within one of as ecosystem. UI before, the handled an digital et

we're is, one second structure is challenging how maintained. that The constantly in the structure

that speak In shortly. we'll do announce ecosystems. actually manage as how to They on doing them, are fact, have we the we changes we

and they So, become Studios in one be reorganized talent. of a way not to they only closer much -- we business, in networks. the the that, will created four And managed will we to that is the things the

and we what So -- what are or than is can Studios more manage I doing, We we're and developing, know more always, we requiring -- think of the what market have bite is what talent them chew. we as what never I we think than requiring the chew well. we how is that the number

announcements that is combined are that we of the launching all making Studios. the with new and So,

do Studios as Diego mentioned, to four groups packed want through go be different Yeah. different you The new four packs? into the will

definitely. Yeah,

Studios they Reinvention reinventing are the you have aware, with industries. to have all that We do

Then we that launched. We types. solution which last we recently on and our are Studios technologies It have the Create, around we have… quarter. Digital was announced have last, And

Enterprise. The

their we Studio, that all solution were The Enterprise -- which that Enterprise talking the Enterprise about do have before. operations. have -- with and solutions encompasses all to The that the

making of you about the you if sales, backend. you the company by the so so Studios you -- so is, where about Digital digital or Studios and the to go full that Studios. think it and marketing, experience just a advertising, AI, the to digital people, And go go way work making the the consultancy forth. the Reinvention forth, you and product the is on to known then with start Diego, performance, Create the for Enterprise and you on and available you part them is your and Then so lifecycle people, digital it create go Then way, with to which Studio, want, with

that four for is we cycle cycle with that that we and So, strive clear? full these Is Studio what tackle Networks. that

And where having of conversations the we was terms were call, right. here, as That's a started in then on of around clients. AI, helpful. with -- follow-up conversation the which the that in initial was There terms you

projects point, it kind you are timeframes the for what them. You this and think the think of client at is involved next perspective? some a about that curve doing started about here from you proof-of-concept adoption right? maybe really What comes when client How

projects Yeah, There is in use exploratory that it. hundreds they of it's customers useful. still are -- a use now quality are and of I cases from full what more really let's are the how they a believe getting quarters that And answers to really that the still exploratory. it see deeper, are action. that and but see that will extremely take level bit need. little the need that to still prove They the of is to couple

I expect bit I a that more evolution. want given slower, to to? move Diego, take see that will know, little if time you much it So, that corporations

Yeah.

under capabilities. of of We've a called changing is company, different that's AI very cetera, lot anyone lot something type front. within working the work. at landscape size huge, they a announced produces of in managing a call all easy -- super not Azure. they cetera. good, a project single to way accessible -- on follows being AI, large We've new that well which new we is in available organization of for -- every the makes in making et lot, Microsoft processes conversation type it have of are a Knowledge interface, today, which information a is, exposed Those et done thing We structural through your business organization of making one think a the good of very which a with bunch to seen just context. during terms But activity and a are new I that Google it in we've Converse done ramp-up impact. know that what the capabilities typically is or as Augmented the and players, as Knowledge, things immediately, be that amount process lot the

part coming good much basing future based that talking thing a with be we're you the large We're where be of is, what response, what architecture different idea control type AI the conversation with the are talking you can the all seamless will make language within architecture, where which will agents. richer you a and this your of that about in data and of we application But about can all achievable. -- plug-ins, interact And on model. actually systems to the company are

its that large transformational to this the an of type All will and puts as saying, that example, clients you take way example. was as or quarters with an it what an couple change are Martin big, together interacts projects come like Those of start us projects marketplace is completely, of the where a for actually are OTS, seeing that. to a

Thank you.

you. Thank

Thank you.

Surinder. you, Thank

question from Please our ahead. So, next line from your Thomas is open. go comes Thomas, KeyBanc. Blakey

about XXXX percentage a updates that AI, about question an of share on dynamic the questions, looking to from gains an about are that you of into Thank this just sorry kind would I double-click Enterprise It multi-cloud the to seems on on -- follow-ups a in answered, seems going you. definitely maybe have $X.X It some questions technologies? But the those lot like terms possible on of comment you've And is been any there, on? here ask before -- on have accelerating think there. just comments Congratulations relatively in there guys you terms that I back-end, the the known trillion design, this is talked, like so for maybe here guys. maybe of -- my what tapped percentages result. of near-term. Martin. coming TAM identified, Juan, something given love revenue, there front-end, we'd in you revenue to Studio. out maybe ask Is of a in the to hear a a the Surinder’s little ideation. on increase, strategy Thanks, some wanted being want here harder -- you with

Thank you, Thomas.

are customers bringing nonsense. those about are absence space. part what tired And first normally question, lack the Enterprise of tired on we on the bringing about which The transparency of are is of Digital They nonsense to transparency. projects, the we do We're side.

this SAP identity, extremely an those our people operate cultural things. our we how we are of organization our competitors, that a absolutely the are thoughts fast AI discover, for market most being are demand those transformation much SAP you And different bottlenecks I forward. the into on really being space. totally being than faster autonomous, have that perform idea all The taking things that and in heavily fact that and that with able projects evolving an of see using successful growing to So, to Studio example, decisions quite the we very of kind is those manner. and The our what’s bringing into are model, implementation and moving is on the like top driving

said, happy and Google studio, very studio, have with Enterprise I'm we’re Salesforce Diego the So, already implementation. we of Microsoft Studios as the the AWS launching the performance the the studio, Cloud

I thing They and that us they that different don’t take industry. with and if with us, know, the organization approach, with and from vendors that's helping of the part? different different the we very innovation totally the see delivering into attractive, are a a the bringing now on and specific we projects full we're that of part second So that's describing. I'm the same fresh space want totally to big have working set coming world. with see these And you a Juan,

Yeah.

area there it's recent say, this an recent a for -- years. let's So -- been for few is a is that end. We've only low

the of of right It total probably now the next So the rest yes, slightly above right some from get share going is rest to now. revenues -- the market growing, industry it's year. the company

industry. And the

but mainly it’s are far. it's we player so lot are a But the the definitely, of And that's lot small an a well. -- a also, we area And and that's industry growth. a because Globant where part small it's of seeing of potential as and

the little bit going given a to size probably rest faster the than as grow, well. company, of So its it's smaller

you. Thank

you. Thank

Tom. you, Thank

Arvind Ramnani comes open. next Piper is your line Arvind, Our Sandler. from from question

way, the by And question. shoes my really pair of taking nice but comment, all want just have. results, really of to for also Thanks Hi. good you

So...

Thank you.

important. said really something someone Finally,

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has do campaigns started back of sponsor last in which last Also, a So and next. marketing be has that be right? we attack what especially, drivers, is our were Cup they to year. growth It building we on culture in we we market the of terms part by with example, have how be next, two Men's Qatar of how about to to to be are structured. strong thinking of to has it company-specific do everything always It studios, is to years the World for in

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out it aggressive are we globally. brand making very in putting the known So being there and

inside like XX opened we to how markets they and during in something companies the that keep mentioned lights on flowing. months, As things the days the into Martin most is looking not last doing, more eight new these are remarks, are on, which keep

pushing opposite, that to better are are expand. the all to been the relevant On things understand we I those heavily performing market. think than why we And very have

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Denmark. for a Germany, presence in France stronger have in in We in revenue, Australia,

that's I the performing are we So somehow from -- the think very, drivers industry. the different kind of rest of very of all why

not are difference, main shoes right? our see, may you the As

of bought Diego the two price the we one. them and of for myself,

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Two same the for one. shop. Was in

XX, XX% it's very your healthy look outside I growth, when growth Just which impressive. at is your at top very

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next is earnings so much This well. to context. and forward as Thank looking super helpful you

Arvind. you, Thank

Thank you.

you so Bye-bye. much. Thank

Bye.

you, Thank Arvind.

from Our Wedbush. your next line Moshe go is Moshe, question comes Please Katri ahead. from open.

guys, Really have here. two thanks. I Hey, congrats. questions numbers impressive follow-up

quarterly to indicated booking XX%. that the growth of that way -- how how up first gauge half there to that on First, the Is was -- for half a the kind QX of bookings how of second you some QX growth any compared to year were last bookings seeing basis through year have That's of context, i.e, from first. my booking of coming we seen that that maybe maybe regions rate? QX, of in on QX growth versus you're where accelerate then verticals? in and terms And color in some terms

it. Moshe, Sure. take I'll Thank for question. you, the

have So, build I that think we what is to right. started again, important there is backlog

of were we reported we the we had consumed when in QX, guided last -- back big so bookings, building more deals you we to the we start when more backlog, half year, of saying, a If remember again. need part second backlog we need

flow XX% you backlog has pick that which shows this bookings up increase you have all these to the right, the relative need started before, been of need year first in year again, both and of the because the So, that part things, able grow, need we to in close, you to to deals stock.

So, having helps. to the having -- or starting build again backlog

month QX, look slow that continues. have a what When at is every kind I in of part and but we we steady, seen think improvement and of that QX and QX already steady

news how any definitely, you you -- look or course, levels a much. XXXX, woken good up the now deals think I part changes. has in pretty that closing. see regions, getting year that have a the was of is that of change at the XXXX increases which process. has the And US in of July stable. much went impacted whole really it there was that -- We not sequential never -- started also is -- big we not you Which month. XXXX, see XXXX never mean, It in was much. and every LatAm a We seen you I hold-up were when well second or the we down industries line if mean those definitely draw always kind to lot Europe really -- way could to delayed end now were of during towards but started all I are again. the the starting went of to start August

what main US would changes bit the more big been part being of I a So, has bookings, say active little increase the in that's Moshe. and that in that driving

we've a Okay, Latin really the basis America then, a North America quarter, seen growth We've during pickup helpful. I'm in versus on quarter. trends of the And year-over-year nice Europe. that's at seen some last looking if and moderate in

on Sorry, we've and maybe APAC. pickup half should -- America growth Europe a rates terms North America of we've bookings we second see in Should you're talking and nice in the that reversing see in yeah, Latin the improvements of about? based seen some seen in that or we

mind a the And typically bit be little lower. will Keep Yeah. that Europe season in Europe. is QX in holiday

softer probably North is on terms Latin it going are to up to basis, and of picking sequential this see than growth new second on sequential a in and So, to markets America the also you America, tends Europe -- going be going half. be and into softer

color. Great. Thanks the Understood. for

Thank Moshe. you,

you, you. Thank Moshe. See

Moshe. you, Thank

conclude we for that, section today. will Q&A the with So,

ask and for today. the Martin. all Martin joining now thank some So, closing will provide go I Please you time for to ahead, comments.

earnings you you very next looking for your for Thank Thank coverage, much, support, to much. everyone, Bye-bye. you your see very call. giving and participating, our forward on

Bye. See you.

you. Thank Bye.