Globant (GLOB) 14 Nov 242024 Q3 Earnings call transcript

Good day, and welcome to Globant's Third Quarter 2024 Earnings Conference Call. I'm Arturo Langa, Investor Relations Officer at Globant. [Operator Instructions] Please note, this event is being recorded and streamed live on YouTube. By now, you should receive a copy of the earnings release.

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

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

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

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

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

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

afternoon, that be and to It pleased with another really I'm all of share you, Good great has quarter. back is strong had loan to everyone.

We have profitability. our look increased with better seen growth, sharing to line you. margins, results forward I top

main growing $XXX.X regions. in with This different quarter, our That's share XX.X% growth a our X.X% the across in we brought top market and We're last than same sectors million strong everywhere. time in see demand revenue. the from clients more and quarter our last year. We

of revenue. with estimated in an highest For XXXX, provider we're XX% expecting any major service growth IT the increase

the our last in the in solid X secured bookings with are Our of history biggest X months. company's

a double-digit and revenue For organic pipeline XXXX, strong faster we're growth thanks growth. about to confident

It customers. adopted the AI biggest since professionally. our mentioned I by tools, smartphones. AI breakthrough personally both our using last during As and is They're is call, being earnings massively

AI solutions. $XX and evolves, generative billion McKinsey with $XXX $XXX XXXX. products. digital spending could to companies governments year, spent more. keep AI that need billion As reach Last up want Companies to customers by on enhanced these billion predicts

already tools agentic of in In we're development up At growth the same time, between Agur, it like [ AI global the in enterprise work answer this last security to and industry. months Globant, be software optimize opportunity. to find AI, to million the These XXX% ] $XXX final possible or period automate due can MagnifAI generated the tools both partially from a our first This the year. to up ] workflows X quality the improve LLM revenue, any [ best and GeneXus. every power is capturing AI-related speed can At XXXX, processes connect we to over generate and portal costs LLM. those same products. of With

bank system our a gains. over lines benefiting Our grows. We leading clients productivity helped this into we XXX of from of are services. transform reducing micro aim Recently, leadership code, their Cobol-based state-of-the-art architecture. lines to we a nearly In modernized XX,XXX it as X,XXX legacy case to Java expand business these to hours,

over $X.X GDP productivity to add up trillion by applications by analysts Some XX%. to could predict AI global boosting

growth for consultancy XX ago, AI years this connected now have We meet experiences. AI sophisticated need Organizations with studios studios invention adoption. we to established industries our demand. strong and airlines, X for finance in

more and now LA the the world. Intuit teams. the with enhancing open in our This digital from Dome live sport or evident favorite experience in Their are new is fan expect technologies advanced example, For fun experience offers at most is artists stadium, the their events, Clipprs. people the partnership

which means merchandise and shorter lines. [indiscernible] can their enter using Funds and recognition, food buy facial

in some funds seats. time It size. technologies their is the are participate interactive powers used experiences, to such Our first stadium from allowing AI technology promotional directly this a

this the to to bring court. just houses our to away The excited our It newest clients. We're in our from us keeping stadiums is We close steps Dome region. basketball more groundbreaking business globally. newest are East, Middle Intuit also office also concept on the projects working

with connected ] experience play. live a the Company entertainment, partnered global Investment [ to of focused will culture develop ecosystem, TVA It a the have City. destination digital and We sports play TVA art state-of-the-art for be at on

too. Milan. will with and [indiscernible] to Play personalized These with recommendations. opened offer our in our updates We're have established Life interface our connected becoming Milan AI seamless, region growing host will Italy. year, we fastest-growing in offices real-time new manage hubs innovation in Madrid revenue itineraries markets, experiences and visitors In and Europe, in this a offices headquarters

M&A, want baring culture We entrepreneurs. corporate a over startup offer a vehicle growth be transparency unique to we Regarding for autonomy bureaucracy. and ambitious

banks. In the services. recently markets. processors specialist payments, They a we acquired work expertise excited factor, integrate U.S. with in Blank of to financial major banking We're in capital and top payment the XX and their X

theme invite annual [ Marcos of AI disrupt connect. year's event. November Chris Libre like Group, converted on speakers Mercado our and is ] of is featuring Young Finally, to of XX, I This you It Galperin Winnipaltro delight Microsoft.

via You code on QR screen. the the can register

Now Diego much. for you over on Thank more to it our very focus. Diego, please. hand I technology

cultures. they the and products, collaborated integrate software on Thank adopt you, explore to Technology Martin, strategies publication with for impact intelligence, it of their MIT it significant XX% Technology organizations for Institute fully while To forthcoming. their Review generative only software must their we still AI's modernizing Massachusetts that development Currently, insights. well-integrated development, artificial impact part consider cycle. processes, most respondents is AI of Findings life of into a its is reveal

can on screen. through You the link report the the access full

a frontier represent creation. new transforming software agents AI

throughout agents BA back-end design to agents development and the code these product utilizing prototyping definition cycle application including agents. are entire from We fixer and

are networks studio Our innovations. central to these

announce excited time, twins decision-making. studio thereby and digital within by twin analyze operations to are aims and our physical processes real in studio enhance that We This to creating streamlining digital launch network. the of the design digital simulate

to AI AI studio the data we've providing legal digital technology and intellectual Additionally, legal law protection, for facilitating management in legal corporate public various teams, and and property accuracy firms efficiency AI tailor-made enhances sector. introduced the processes legal administrations. on tools focusing transformation from across

is to committed their customer enhance brands leading experiences. helping Globant

Our partnership progressing One our with well, similar collaboration is with to FIFA. Formula

addition In platform One offers race a Formula technology brand experiences fan elevating to significant and our for innovating recognition.

assurance. Regarding productivity work, MagnifAI enhancing transformation Callaway AI our client we efficiency accelerators, Utilizing with and Golf. we in collaborating to strategic our drive generative TopGolf are Callaway are for quality and platform

excitement [ Our Hagelslog. across media first generating supply Globant Heinz and innovate sprinklble a catch-up organic GUT waves Chop, a ] suggested the by In by GUT agile making dealer Kraft initiative globally. also iconic product and Netherlands, is in network Hagale the with creating Europe. we a by This you transformation inspired buzz program selected Moreover, that and limited in pop-up digital network their run earned Stellantis to Amsterdam. utilized were their

is and automating improve efficiency to and costs. focus simplifying processes operations Our reduce on

our selection. Our Globant the sector automotive X including expertise in key technology to and stack, our tools were

Studio within content to launched quarter, our channels. in tool product Play, the extensive This new product broadcasters dynamic, Quick Google. and creators enhancing partnership we a personalized tags advanced Enterprise enriches This enabling with network, and search developed craft with video

services, an you I through elevate organization. can our interactive guides your showcasing invite new how that featuring Lastly, globin AI website we to explore you assistant

session I With forward look our shortly. at that, will it Q&A you. to hand to the seeing Thank I over Patricia COO, you Pomies,

client, to we more commitment in to thrive, Company contributing quality Globant's the relationships over you, Currently, over and the growth Walt thanks Thank Diego. annually. largest our built clients our million XX.X% we've and quarter-over-quarter. revenue and than clients revenue XX strong XXX increased with year-over-year XX% by annual continues generating to Disney clients the years. have million Notably, $X $XX from

with XX.X% and growth XX.X% sequential this growth Middle came remarkable year-over-year. strongest in quarter the a new Our markets from and East APAC

the Latin North XX.X% We Europe, about prospects this are region. revenue Year-over-year, in growth optimistic America our in and in XX.X% America. in was X.X%

for our X.X%. our top diversifies, of As America Latin and North XX.X% accounts by APAC the Europe and East line, followed at at America XX.X%. Middle at revenue XX.X%

broadening verticals reflecting X quarter, X sequential out of our experienced business. growth, This industry a of

and technology services X.X%; which sequential included respectively. and consumer, also to and telecommunications BFSI Key X.X%, in professional travel growth and We're growth media XX.X%, verticals, X.X%, X.X%. and pleased and posted growth report retail X.X% hospitality, of the entertainment, and and areas manufacturing

year-over-year As total stands XX,XXX a increase at X.X% IT Globers, count being XX,XXX professionals. of with head QX, our

attrition Our trajectory, effectiveness teams growth to utilization and has rate decreased for in is our X%, creativity and currently continually rate Globant's to QX their down assessing support increase better from X.X% at clients. XX.X%, our a showing enhancing sustain slight To we XXXX. how are

experts, irrespective our As Martin mentioned, to ensuring applicable clients' expertise. geography. empower to knowledge, industry-specific now our creativity local an industry-specific studios. provided will opportunity consultancy with deliver our Consequently, need industry can aim more for portfolios feature We teams blend has of our

tasks marking AI way company's focusing one industry over in reinvention technology times our relevant XX% now growth success studios specialization has are clients. major team, that They of challenging process AI of and on in is combination for monitor of a during Applying fastest contributing the the smart critical and players. for AI enabled areas they project us mind, delivery and and delivery and the are into AI onboard speed. With quality define different incorporating overall optimize alongside the processes key to for take both our we as delivery managers execute our the Our on with consultancy crucial, in agents us. our The status. revenue

quicker facilitate decision-making. to We are our local adapting structure

has America been our subdivided focus Brazil. Mexico in into Latin strengthen to regions X and

in for commitment our while recognition this XX new COX Fortune's in decade in like energy local ] We Additionally, from recognition we tons will Globant's East, like globally. inspires Change beneficiaries gaining by more were prevent the big council on of expand we India sixth the XXXX the our the as a ] to [ emerging sustainability the wood in transformational noted And of we to List, global growing of of Riyadh initiatives. release deforestation. In company office the support hope to communities, over helped farming open improved our XX,XXX the equivalents. of project work developing life Coricancha of community is Americas [ ranked Middle and X,XXX growth honored our World markets. tons October, Projects America and dream projects Kedia. for quality particularly Peru in commitment the Latin companies to green for business for in preventing

completed Aon, we've XXX initiative XXXX, with edition. AWS and has collaborated over build with Since organizations successfully and that judges women evaluated partnered globally its X,XXX Our candidates, KPMG. fifth like

inclusive global recognize narrowing Thank from women X fostering your with reinforcing proudly XX to commitment trailblazing gap and in our you growth. time. We gender regions industry the winners for all the

discuss I it now over Juan hand will to our to financials.

everyone. quarter to discuss today afternoon, you here good and third am Pato, you, I our with to be Thank pleased results.

several and recent During this strong geographies accounts, growth driven across achieved revenue along wins sequential robust client with performance we verticals. different from and top key by period, our new

managed business healthy We grow prudent profitability cash enhancing flow, balance maintaining to our while and sheet. generating all while a free and

and record sequentially $XXX.X with a up reached X.X% million, level revenues Our XX.X% our of in guidance. year-over-year line

negative constant currency growth organic revenue estimate the stood year-on-year revenue foreign terms for a year-over-year. X% impact in Excluding We of at growth exchange, XX.X% QX.

are in Additionally, quarter-on-quarter growth of first from in verticals headwinds faced the a the we experiencing specific recovery initial half of that signs perspective, year.

our gross a basis robust profitability with and profit account. QX in points XX from adjusted QX margin strong an points sequentially the basis quarter XX.X% also of We growth a up perspective. XX had experienced closed We year-over-year. top

past the Our highest sequentially and reflecting points basis an increase years. of recorded XX basis reached are the These points adjusted year-over-year. XX margin over XX.X%, margins X operating

In dilute quarter, XX to sequentially. managed addition, this points SG&A by basis we

sequentially. tax profit at net adjusted adjusted stood the EPS net in margin, million up of diluted quarter, resulting was XX% points $X.XX, an Adjusted with an XX for rate up $XX.X year-over-year. XX.X% Our basis XX.X% effective income

strong, million balance $XXX cash from have with net cash. $XX.X revolving facility, to drawn $XXX.X With million ending sheet or Our $XXX growth short-term remains we credit the initiatives. in million ample quarter liquidity million investments in and our support our

a the generated adjusted period $XX.X ratio flow third During free income versus free last to year, of the million achieving exceeding $XX.X quarter, same in net cash we cash XX%. million flow

in stronger the much is generation second year. half flow of cash the free our always, As

of continue of growth to range and increase representing between range. rate of expected expect We XXXX. Now currency to project let's for XX% $XXX organic discuss year terms, guidance. the to $XXX we million XXXX In QX constant revenues the operating is close XX.X% adjusted full effective XX% an XX% tax IFRS midpoint million, in the The to be year-over-year margins to the with range, income the XX% in XX%. at

now to the to diluted EPS Adjusted between $X.XX average be of assuming for fourth $X.XX, quarter expected XX.X an is shares. million

as currencies $X.XXX to guidance dollar. which lower in operating basis effective we headwind our rate to year in the billion estimated XX% to full in For We income prior IFRS is XX% full the against the of now the The expected of Latin range XX adjusted of guidance, our year, now tax from forecast raising $X.XXX to are depreciate anticipate be the America to XXXX We to points FX end in XX% margins XX.X%. continue range is range. billion.

our diluted with industry. conclude, is expected shares between year. assuming Finally, financial million we an are our year-to-date to to XX.X adjusted very the $XXX in which our reflects of To average EPS position be pleased outstanding for performance, the unique $X.XX,

updates end the continued Our setting months. on in relative growth leading a to support the to showing indicators for we and forward signs XXXX. Thank our strong solid of XXXX, improving and look remain with more achievements and positive, reinforcing year coming to a you your growth to sharing start organic

good everyone. us was that to today. you flight of again. to Thank comes JPMorgan. you, Instructions] and a will question be Juan, join stuck see first the He delay. With from Huang from Unfortunately, in hi, Martin mind, able line Tien-Tsin It's the [Operator on not

So year. next for on faster the organic the visibility ask yes, on growth I'll the

Martin organic some just both what what are that that you think the a larger by macro insight much or of is that even and that. the telling signs faster little How just was perhaps of of maybe driven mentioned you backlog more you versus I telling the then large bit there's clients on growth? statement have you John,

Look, Good what large that of seeing performance are are reflection on you some ramping deals Tsin. XXXX, Tien think about the the I we depending it's you, where a good Thank are. everyone, afternoon, Okay. up. of of morning, we

East, sports a general, entertainment media component deals account Some in in is well. of Middle the strong closing the that including a also performance our and we of there are and in as top in

course, kind or with the that that number seeing of the add of we of would the the in few are more things some, we've also AI clear that months. seeing now We improvement I been acceleration that components. there That's elections finally, an also some now. last some that deals have And getting behind. is of are the AI macro over related are are There majority is that

rates inflation control. have interest under We coming down, is

I are I mentioned the the front, that first that assign making starting to mainly of variables clear, the points but some So I noise before. some think the to on macro would that we're visibility few

line of Jim The from Schneider next the Sachs. question comes Goldman from

year, Relative clients Is acceleration in for data? and projects And larger seeing scope like practice emphasis to work are you you certain how areas not? the work greater talked about there AI or getting do your the into XXXX. you're the expecting you or AI changing a for size next on see

lot different to seen the impact was question. exploratory it, of will the We a into different diving approach compared Thank many analyzing a companies. I for Last definitely Juan. places. AI take deep getting your that was year, in we've to -- that, what last incorporating -- in assessing to year you technology, there is its within there's XXXX work

is was much were is very POC like very typical year we've was pipeline said compared and year was So it's that work that to with more the executing studied can we extend and small. the as actually comparison, this The last in it small I extend because intentional. it. seen What booking work

So goal to there's nim we reach. a need

was of why level bigger the mission. we have has work That and we year, Last see this have it producing when traditional that, et about as business in provide an GenAI a between a other So an result AI traditional year, impact. enterprise different -- of to of some and sorry, mission imbalance Gen There's it's makes in balance. a mandates models, models And and that's maturity. result. there's other a sense, there and good pipeline, type cetera. optimizations,

I'm what foreseeing line. is XXXX continuity for a So this of

larger et is the to visibility AI results have So that into it every bring I gives more as like think forecasting factor of what's company cetera. much more an they directed coming, are that and projects, investments now on of us objective needs definitely

visibility So overall, that's the we have.

TD Jim. you, Bryan Brian. question the comes The from Thank line Cohen. from Bergin of next

the just talk deal these project that We to this is announcement ask wanted the potential on deals I of Middle there can the of larger historically potentially ago week saw the region So you compare? actually you? Can official had, about you for context making how East. in the a of kind an have that

Yes.

take that one. So I'll

a from are base. small we Bryan, starting So very

it's growth to of the quick. So easy very large, large. see is begin They deals they coming quarters. the but size the become small, over Typically,

like every large, investments region, magnificent, in As real technology. in investments in that you tends project massive be estate, very including massive know, to very,

going about be an these They to in you're basically I mean start it's been for certain experiences But from countries to people -- They're we've an to visit -- to to this and lot there going time. keep they that's are built, -- going with assets, And trying on other one evolution. then expanding. visit talking from to basically going It's to different is those money to Asia from create was going different a new be There is economy moving a regions starting and a locations. with take of of attract macro, regions, those be these they new serum as with is evolution It's few to that starting many cases, from they quarters. to that want right? There a invest. from one a lot to are are of nothing.

was extremely is well and of the experience to in ago. deals over their I including, there, of weeks we a experience. very couple creating a that course, to related of on income trying that area. And positioned lot good many software is it to the traction the one of of seeing think, sources announced economies are of are They Globant, diversify build an to

just it's And think there. to that, interesting opened I an adding say -- we've office to that that

still training people those goals people and there, growing new in in are we putting helping area. So markets to achieve order

very part a still we are as And strategy. course, strategy there. opening was the I it's one of us. an designing office, the It's all was so new Juan think interesting the market, I mentioning, for region, with of mean

you have at in I that, planning to are growing. course, also. other is that that know going we think we what many Globant, And is markets continue that, of that as least many other markets

care. try to with team are close very putting and be there our a We We're a specialist specific taking to clients.

comes Nolan line Maggie next question The of from the William from Blair.

I was commentary you is in the what AI engagement? the have? then delivery services the And Is this about you incorporating the into Is in degree, that agents human any, do it this IP interested replacing of and unique factor economics industry into how -- process. that if labor? to the

that Well, we Maggie, the in of in Globant mentioned have question. more people we in we for people. I XX are different way we as take we internally one. not last in processes And training years that the in replacing are the you, the last are Thank it's way have is kind that AI for using been your -- quarter, recruiting people

health we our try in so engagement has delivery to define are using or do with the check project, the or on in scope to to AI work with of using now agents to delivery in projects. And with all order order the to the the help in partners -- framework, people it

this is good, mean we that agents many the for kind also. these teams of that we really I for or internally giving result us of is been things are of the And and So are of the the where agents are using one using kind results clients health our that amazing. a is that projects, have we our of that trying means

examples. this in is the AI of this using company, talking with together we right? course, And of that as years, but other to are the I doing. business, been kind for are a projects, also working this are about way order is have we show internally -- and doing many, We what is clients one of many We think Globant

comes next line from The UBS. Leonardo the Olmos of question from

local with that portfolio industry experts. more You future mentioned previously

mentioned growing course, some Middle shifting to You people of sequentially. maybe East. And also the a lot you're

should how the and going about rate? So we think utilization forward employee growth

Okay.

going of terms another QX. quarter you're employee So net growth, to see in in additions of

are in additions are than in India overall, on expecting X Eastern you hiring probably We in Again, America, should the less little keep mostly in a and Europe. net -- in and positive regions. a faster bit hiring Latin probably little terms But QX. of bit we

XX.X% utilization, terms quarter, of XX.X% to at ended this In QX. in we compared

still that's think below I our targets.

know, target XX%. target XX% -- typically as you to We we

that more in the We have even past. done than

target. or have target, We good quarters but I continue for that and that a will -- XX% XX% had look to of XX%, XX% think we is

little I higher. very think able utilization to we're continue higher as but the the don't number. target future, changes do in expect to industry accelerates going near bit over big we time to I be a take a

think of here And I you in that one go also with studios. that is leading that I was And mentioned that, have industry about the been the also experts doing the all we that the think portfolio. things

that that, our many are seeing the we as that in best days now possible team organizing think been what I ever. is have industries, growth doing we means

important vision clients, belong we that for be we we putting want So we in our that a this the us. very geography they to next to have the more is our have to It's next portfolios expertise. that, and to are expertise that

I that So where and this people AI to we experts. AI, people digital of means week, half in going next that are first training we think we're and also are internally our launching hub industry train

I those time is that movements is I of the all right. doing think think kind that loan

to landscape technological with we And single with that proactive with so play. super to want domain comment to clients the change be has every in technology important going One think deeper additional to your comes provoke offering industries, into been our becomes there to expertise that much I the regards client.

about So we're AI. thinking digital twin. about computing. thinking We're special about We're thinking

going the that's opportunities natural that. provoke And a of for instead why explore we're industry this So getting for to to the us. we want evolution for is before maturity waiting

technical but of to be course, sales deeply a our channel continue, is a part of We this strategy. company,

comes Guggenheim.. The of line Jonathan the next from question Lee from

double-digit about next revenue to year. growth commitment to Tremendous hear your

As about next sales deal much perhaps into And so, year being pushed if of are you delays? elongation seeing the year? we that cycle contracted think is remainder XXXX, into the of how any or backlog

are no, pretty like scenario numbers a over we've why similar quarters. the changing. seeing last the one we Jonathan, few seen much not are the That's

remains think that kind type of efficiency more is terms conversation I productivity balanced of relative the approach. in revenue projects to see type that revenue-oriented something a improving we or of of to project. And that continue

budgets We at are customers. also for deterioration not seeing 'XX in our

lower I mean for it much we growing doesn't mean year are technology. I lot, mean, see customers a unlikely. that in and investment it's their next pretty they no targeting a but number

that are seeing elongated cycles. So not say I in would we general, closing

beginning, clear. any We variables the further getting the deterioration stabilization I saying are very that and was I at and more not are seeing actually as would -- seeing any on say macro, we're more

that's a quite little So for we what it or stabilizing an a did for I better. where was we next looking industry growth we're getting industry. optimistic after are it was looks like of things -- bit are tough scared, well, but year. And And think years X X,

line So question Jason of America. Bank the the from next from comes Kupferberg of

about a had X-part XXXX. just question I So

rate accelerating growth the about talked organic the number. XX% off You

X% M&A next announced contributor like You've you've got to maybe on year X% the already. looks a based deals

that. confirm to wanted just I So

target think lower typical the to at your the XXXX, closer range. If been adjusted margins. of part we've XXXX operating we XX% look to and on just XX% And I annual

XXXX? So considering we be are and the for puts what should line on that takes

I'll questions, take the Yes. X Jason.

points at year, about relative of at almost a terms So call, there. as at looking of can of in next the digit year, mid-double to XXXX, for this we something terms organic the point, so I looking acceleration we digit are growth. a would closing of to This impact small acceleration X X at we constant seeing We're M&A, low XX% that say small double today. into of growth. of the mentioned as in bit are say we Plus some currency we're during little

an Of those numbers update in course, we provide of are XXXX. the for our now as But -- February. will

part in seeing currencies peso, the peso, those look all did when the on appreciated XXXX, at terms a the and Latin impact 'XX the some of peso, in impact When depreciate. In starting revenue remember, of dollar. America. have That to as at all are significantly currencies beginning some the much and July we Latin Brazilian around during you you That of 'XX, the Chilean Mexican of relative 'XX, tailwinds you second pretty operating at to little real, the but the Colombian number the American relevant income, put started able in from now level. at been front, in a level of more course, to efficiencies. currencies, revenues second those And a of make we the the because of do some to cost half coming we course, depreciation have the of is some FX. pressure margin actions, see of number year, have we look an bit

little improved income. operating per up We bit plus be been we XX.X% the revenue us tailwind on So taken to work took that going have utilization, QX. at an to a again, more continue that to actions has head efficient, some closed improving

expecting think are a for We of number that's QX. base similar I And kind number. a

As of now, XXXX. of course, for

provide as when we are going more the again, a accurate But number. course, as the those that's say when we of we're would we today. to closer situation -- Of February, to officially get guide report I

Surinder line Jefferies. Thind next of comes the The from from question

the about you. of perspective a talk And some question Can review of been and is much those and terms this in journey kinds where do bit for think things what seen that at you've you in on about penetration into how can technologies? from little are then guys newer in you the deploying AI aggressive this you that I maybe deployment the you -- of MIT article put more internally, Diego, and of under that how more the point? have

promising the that actually One to question. super be was had are fixing but for augmenting to conducted X an when done LLM work of try we're a example. to in on long it X analysis, to we've sure. to The let and is it. good was full actually doing an authentic make This on is able aspects done Results I'll some re it translating so important of we've positioning, capacity to riding fixing person areas, get as job, way, what's testing, for lot we What and business give industry. with workflows. doing back the meaning industry baseline. of we're They're our code. still super to a AKA a We've be me probably a compare comes not internally other know, in done you in cold an them all actually best areas. you industry with far own tools, taking done care the have to and estimations. And developed

might you cetera. difficult factor specific When within to become to in a domain. certain do scale, job you architecture super have reuse at your maintain et medical things et coherent, more It's cetera, While complicated.

and So that's bit a our typical there more when -- job. complicated. little And things get

we've sense single whatever it regards been super effective. bring very makes to every efficiencies to have our aggressive been to And tool, We adopting with clients.

charging them. for of Some those tools were actually

tools more -- our make to adapting Some processes the others efficient. or third-party or are own either

this models happen that is on are a that One AI of to things and of the agreement plateau there's in an coming this. nowadays

you're the to do mixture of the incremental And get it. we models, doing. are out most not now the time that's the working it's benefits cetera, seeing cetera, bring for et cetera, parameters, with results, so experts, et cetera, of of actual agents, et reasonable what number So from the increasing et

we're actually developer me, that know you code integrated our ago. forever, mean that. to environments ] efficient. well, you are question more will is like, able like happening XX -- has a I this replacing XX about nowadays, with the as go development systems been [ all And I typical making Xx fast as people years I years, are trust used

as clients. company, So embrace that of and best and to those our need understand, is and to it -- this need we the we, bring efficiencies a to

we're So that's what doing.

comes of Keane question from next Bank. Bryan The the line Deutsche from

blank here. factor X the [indiscernible], X I the closed recently acquisitions, on think an acquisitions, they Just recent

talked those the which specific recovery, to sign add question, how that much add So you verticals recovery? year? fourth are about they seeing those just follow-up for a with quarter are and a in are you that do this And that revenues verticals showing that they what do the showing then

Sure.

and the of will start with I first then continue the second by part. So question, part I'll the I mean

had retail in BFSI. quarter really, travel terms of doing been well. doing also in been in year. hospitality, We're Consumer has which a some we been manufacturing verticals, the has throughout seeing So improvements really have clearly, very well -- good and

Europe, Some of especially with are the financial us. institutions, growing in

business our mentioned you Ireland, business Spain -- over the there, if and in expanding at look a that if seeing customer and technology, example, and We have quarter, we're a decent you services, a in was been we well. We're while. at for X professional are -- look quarter about those are -- expanding also this as struggling sectors for

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an weeks QX, of the ago. at closed Excuse acquisitions. end the about very a of mentioned couple closed factor You

has it's -- we So impact number for is FX some growth That XX.X% there XXX of year-over-year. guided also to impact at is -- have QX the a midpoint. total basis the points going that

So QX. would growth, sorry, take that year QX constant and constant to year-over-year X.X% full a currency -- be of currency growth about if we in XX.X% were for

for in So the growth QX. about is impact the organic X points

line from Scotia. Goyal question Divya The of next the from comes

get I specifically. little more color a wanted and America in on the growth Europe to bit Latin

And have there? you in M&A are fill momentum these you some in understand are potential if looking X regions the maintain to order gaps So the help the potentially are do to could And you how doing? across any growth pipeline? what these us geographies of

of that there we the as terms into -- region before, explaining are other explain we about are the thing Brazil that we been What we split growing right well, in heads LatAm, can put is in Mexico. have there, I in one year-over-year. and slightly we one And now, seeing X

other Now retail is consumer we'll start growing fast. financial growing and and faster the some vertical in there getting terms of better

in as Europe, in know, just you been office opened We In have expanding. Milan. mean, a Spain we new I

We have markets in France.

we are just time we in know, terms pipeline, looking is what seeing kind And you there, growing now, most are for all [indiscernible] fast. have course, there as in of are the opportunities. the them of of it's Right Germany, -- also, there of in best the what have okay. the We is strategy, And M&A -- we have [indiscernible] U.K. industry, and we different

this We ready are, right on quarters, are I doing than have most I we great LatAm Europe. mean, teams think what that new some now, Probably, region that continues scenario. spaces there all been great -- the also we mainly, is couple way. in a that in growth more looking And grow. is organic we are last day of the the are for the and also time. to focusing growing Europe it course, us in in of

designing and have are and a people we still there. empowering We team there, great

those has obese that time, in And the new markets markets, I and show been So of we to are keep market, all are we that the finally, course, as growing is our think are U.S. starting mentioned later. regions amazing. growth other well, regions as

of bit can industries. pipeline there, FMA usually different different little regions, I Divya. The has add technologies, different a

there So consideration. different close of We that into done. able combination this, to we sometimes factors companies them those a when get and take we of we are follow is

growth. acceleration. to all look with in coming from little be America, also the You a should little bit U.S. are the markets, we less have Europe And growth fact what And a a new Middle that related think bit East, the regions. less bit we recovery, going Those some at impacting markets. nice some coming little more seeing the if from Latin to fastest-growing then call been and more expect are I it's growth new recovery America, Latin we from currencies

FX the some there. again, some economic are is and the through that new recently, trying there and went markets There growth. the are understand So But Europe for to future. going to the are still elections countries be -- those impact environment leading following for

comes Mizuho. question Sean from next The from Kennedy

impressive this projects driving what are trends of we those growth Disney sort this wondering quarter. was head I XXXX? into on Congratulations as the are growth? And sustainable how

Yes.

know, I experiences, mean, you differentiated As between parks well and media. AKA is probably Disney

them. of are has on In to of plan -- platform. single the that's -- side, a what always media, the on Hulu. On Plus merge and in And been both the media between we Disney on we nowadays, this come we're traction traction working it's combination to a did generating

there. are ton we that's we have a doing Now that, top there's and strategy driving engagement, the maximizing revenue, same is a new for their strong sources -- of and on of so revenue ESPN. bringing more pipeline But of

other On don't have still hand, indication strategy of on the the clear on as all to have side. park have And media we a about we do you a has lot side, now but efficiency, what's that have Still, we such needs, the the now good we speaks the experience. and strong. know, super improving there are we operational strategy as a visibility it the with probably

that, guiding So based very I a think good on we're position. as principle, in

question believe from Kapulskis line The Piper the next line Thiago from on having question comes the The of from Nutt John John next the We'll to move from next come be Sandler. Itau. I of problems. might question.

about geographical Argentina going share you're thinking a So another Colombia your your quarter, hubs, continue headcount. more your should And just more it's larger X forward? India We've share in headcount, points. how -- Argentina, size Even been gaining gain even historical your right? wondering than And become this just are getting and one on as or seeing headcount to in if and mix? if you India which almost and in question

came This grow. India you correct of been it's in India and in started quarter, the that India XXXX. has continue part we acquisition in the back see Exusia. growth growing year that But We of also to throughout from the

expand integrated that presence it's in operation. Every we're more to time, with opportunities just in the Vietnam business -- even from business and more company APAC and in India, Middle in -- towards have our studio has in revenues global and operating not more expanding well. India. mostly same being at our more the meaningful are expanded expanding So U.S., And the now we region in East years in our India. creates the a business expanding to than so And Europe the the that we operation XX more in Philippines, it's we in and as our completely

priority is well Europe business be global, continue Again, a a Asia Latin eventually to market. going today we of it's larger but markets. It our the more home So as larger our America a Eastern for a our main the mean a on as is to new future will balanced share part very, us, Europe, small are and other -- as more Asia becomes takes business. with very with our be I into larger -- region, which

the Well, it's We Colombia. I I and want adding to just think milestone. to hit there, that, from X,XXX an team just congratulate people our amazing

shows I before, think India all not a market serving around Europe. that just serving this in also is serving mean, And what and or in markets commitment that U.S. new globally adding growing hub world also I growing Latin is markets is and is only amazing I is more American is thing. So India that an mentioning the we because are have mean, course, Juan the -- continues of growing our was

growing -- all globin all time we said keep the that the mostly everywhere. So we in people

talent to So that going right trying is where we do where are is. the

is that AI that we before, to our our beautiful are about are talent we tools, for that everywhere. of best now than of campus now, the count we have I been able looking have right put is I still mentioned as think more the so right parts Globers the -- from different [indiscernible] the training teams the in is receiving that training are we so Globant, are XX,XXX structure mixed, kinds need specializing thing head We also just and in

of working are countries. is really in in of And people the framework the kind something from terms that team the delivery. is that same So different of important

that around have for the are best So putting we people globe the members. best we team the

with to do to giving and Globant. in we has talent our it always best have that clients us, for the best So the

Juan. Martin, was Thank to on he Martin him the us We're there? to closing you over remark. line. line you for are pass if He's the the available. Theo. here pass believe very to I and join able going not, I'll much, line see try if is And a to to

Yes. Great.

just great so I plane, on on doing to a still connect and air. time try the So will and

conclude remarks for over the call. line the go I'm to Well, everybody, call, so Great. Martin, the for But to for much Juan, ahead. thank closing thank joining you are Juan we but joining. you, going to pass please

you. us your guys see evening. thank soon. Thank today. you you support. continued for Well, Okay. always a Thank Have nice It's And very much. joining for you

Thank you.