U.S. Markets open in 4 hrs 24 mins

Free Research Report as Globant Delivered Record Revenues; Adjusted EPS Soared 52%

Stock Monitor: Formula Systems (1985) Post Earnings Reporting

LONDON, UK / ACCESSWIRE / June 19, 2018 / If you want access to our free earnings report on Globant S.A. (NYSE: GLOB), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=GLOB. The Company reported its first quarter fiscal 2018 operating and financial results on May 10, 2018. The information technology services provider outperformed top- and bottom-line expectations. Additionally, the Company provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:


Active-Investors.com is currently working on the research report for Formula Systems (1985) Ltd (NASDAQ: FORTY), which also belongs to the Technology sector as the Company Globant. Do not miss out and become a member today for free to access this upcoming report at:


Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Globant most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


Earnings Highlights and Summary

For the three months ended March 31, 2018, Globant's revenues increased to a record $119.7 million, representing a growth of 34.9% compared to $88.7 million in Q1 2017. This solid growth in revenues was driven by both the Company's top 10 and non-top 10 accounts, which increased by 37.3% and 33.0%, respectively, compared to Q1 2017. Globant's revenue numbers beat analysts' estimates of $114.1 million.

During Q1 2018, Globant's non-IFRS adjusted gross profit was $46.8 million and its non-IFRS adjusted gross profit margin was 39.1% compared to $34.6 million and 39.0%, respectively, in Q1 2017.

Globant reported a net income of $10.3 million, or $0.28 per diluted share, in Q1 2018 compared to $9.0 million, or $0.25 per diluted share, in Q1 2017. The Company's non-IFRS adjusted net income was $13.9 million, or $0.38 per share, in the reported quarter compared to $8.9 million, or $0.25 per diluted share, in the year earlier same quarter. Globant's earnings exceeded Wall Street's estimates of $0.34 per share.

Operating Details

Globant completed Q1 2018 with 6,940 Globers; 6,462 of whom were technology, design, and innovation professionals. For the reported quarter, the geographic revenue breakdown was 78.6% from North America (top country: US); 13.8% from Latin America and others (top country: Argentina); and 7.6% from Europe (top country: Spain). During Q1 2018, 85.5% of Globant's total revenues was denominated in US dollars, and the remaining 14.5% was denominated in other currencies, including Euros, GB Pounds, and other Latin American currencies.

During the last twelve months ended March 31, 2018, Globant served 348 customers; 89 of which accounted for more than $1 million of Globant's total revenues. Globant's top customer, top five customers, and top ten customers represented 11.1%, 31.3%, and 44.5%, respectively, of the total revenues for the reported quarter.

Cash Matters

As of March 31, 2018, Globant's cash and cash equivalents and investments amounted to $45.0 million; while its current assets amounted to $156.3 million, accounting for 43.3% of total assets for the same period.


For the second quarter of the fiscal year 2018, Globant's revenues are estimated to be between $124 million and $126 million, implying a y-o-y growth of 25.5% at the midpoint of the range. For the upcoming quarter, the Company's non-IFRS adjusted earnings per share are estimated to be in the range of $0.36 - $0.40.

For the full fiscal year 2018, Globant is projecting revenues to be in the band of $502 million - $510 million, implying a y-o-y revenue growth of 22.4% at the midpoint of the range. For FY18, the Company's non-IFRS adjusted earnings per share are estimated to be in the band of $1.56 - $1.64.

Stock Performance Snapshot

June 18, 2018 - At Monday's closing bell, Globant's stock rose 1.99%, ending the trading session at $57.00.

Volume traded for the day: 335.67 thousand shares, which was above the 3-month average volume of 341.22 thousand shares.

Stock performance in the last month – up 12.18%; previous three-month period – up 9.57%; past twelve-month period – up 36.92%; and year-to-date – up 22.69%

After yesterday's close, Globant's market cap was at $2.00 billion.

Price to Earnings (P/E) ratio was at 64.85.

The stock is part of the Technology sector, categorized under the Information Technology Services industry. This sector was up 0.2% at the end of the session.


Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.


The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.


A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.


This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.


For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors