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Globant (NYSE: GLOB) has released its financial results for Q1 2024, reporting revenues of $571.1 million, a 20.9% year-over-year increase. IFRS diluted EPS was $1.02, and Non-IFRS adjusted diluted EPS was $1.53. While the IFRS gross profit margin slightly decreased to 35.4%, the Non-IFRS adjusted gross profit margin stood at 38.0%. The company experienced robust geographic growth, with significant contributions from North America and Latin America.
Cash and cash equivalents decreased by $85.8 million, primarily due to credit facility repayment and M&A payments. The company projects strong growth for Q2 and the full year, with estimated Q2 revenues between $585-$589 million and annual revenues between $2,405-$2,440 million.
On May 15, 2024, Globant (NYSE: GLOB) launched its Robotics Studio, enhancing its position in the automated robot integration space. This new studio leverages IoT and AI to automate large spaces, optimizing tasks that are dangerous, repetitive, or impossible for humans. Key offerings include RobOps for fleet management, Robotics Prototyping for transformative solutions in industries like logistics and healthcare, and Autonomous Machines powered by advanced computer vision and telemetry. The Robotics Studio is part of Globant's Digital Studio Network, aiming to provide clients with competitive advantages in a dynamic digital landscape.
Globant (NYSE: GLOB) will announce its first quarter 2024 financial results on May 16th, 2024, after market hours. The company's key executives will discuss the results in a video conference call.