Globant Files Annual Report for 2024: A Year of Growth and Reinvention

Globant S.A. (GLOB, Financial), a digitally native technology services company, has filed its annual report for the year ended December 31, 2024, highlighting a year of strong growth and reinvention. The company, which specializes in innovative technology solutions, reported a 10.6% year-over-year increase in fourth-quarter revenues, reaching $642.5 million, and a 15.3% increase in full-year revenues, totaling $2,415.7 million. These impressive results reflect Globant's strategic focus on AI and digital transformation, as well as its commitment to expanding its service offerings and global footprint.



Throughout 2024, Globant has demonstrated its ability to navigate evolving market dynamics and maintain healthy margins. The company's Non-IFRS Adjusted Profit from Operations Margin expanded to 15.7% in the fourth quarter of 2024, up from 15.3% in the same period in 2023. This margin resilience, coupled with improved customer metrics, indicates successful up-selling and cross-selling strategies. During the twelve months ended December 31, 2024, Globant served a total of 1,012 customers (with revenues over $100,000 in the last twelve months) and continued to increase its wallet share, with 346 accounts generating more than $1 million of annual revenues, compared to 311 for the same period one year ago.



Globant's strategic focus on AI has been a significant driver of its growth and market position. The company has invested heavily in AI, providing it with deep expertise that sets it apart from its competitors. This focus is evident in the establishment of an AI Industry Reinvention Studio Network, which has contributed significantly to the company's growth. Additionally, Globant combines its technology solutions with top creativity through its GUT Studio Network, further fueling its growth and reinvention.



In terms of geographic revenue distribution, Globant has a significant concentration in North America, with 55.2% of its revenues coming from this region. However, the company has also made progress in expanding its presence in New Markets, with 6.7% of its revenues coming from these regions. This diversification highlights the company's ability to tap into various markets and capitalize on global opportunities.

Looking ahead, Globant is confident in its ability to maintain its momentum and build on its strong performance as it heads into 2025. The company's healthy margins and solid financial position, coupled with its strategic focus on AI and digital transformation, position it well for continued success in the technology solutions market. As Globant continues to reinvent itself and adapt to evolving market dynamics, investors can expect the company to remain a strong player in the industry.