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Thoughtworks Holding, Inc. (symbol: TWKS) is a global technology consultancy focused on revolutionizing the design, creation, and delivery of software while advocating for positive social change. The company works with a diverse range of clients, from commercial entities to social and governmental organizations, who have ambitious missions that require innovative solutions.
Thoughtworks sets up smart, dedicated teams that thrive on challenges and think disruptively to help clients succeed. The company’s agile development tools are designed to help clients continuously improve and deliver high-quality software. Thoughtworks is committed to industry improvement and often shares its learnings through books, blogs, events, and conferences, as well as by championing open source initiatives.
The company operates across several global service lines, including Enterprise Modernization, Platforms and Cloud; Customer Experience, Product and Design; Data and Artificial Intelligence (AI); and Digital Transformation and Operations. Thoughtworks derives the majority of its revenue from North America but also has a significant presence in APAC, Europe, and LATAM.
Thoughtworks is a strong believer in the power of software and technology as tools for social change. Through its social impact program, the company collaborates with organizations that have humanitarian missions and broad reach, helping them leverage technology to drive their impact. Learn more by visiting Thoughtworks.
Thoughtworks (NASDAQ: TWKS) announced a strategic collaboration with lastminute.com, a European Travel-Tech leader. This partnership comes as lastminute.com aims to enhance its growth post-pandemic, supported by an expanding developer team. Thoughtworks will assist in navigating technological challenges, focusing on customer-centric experiences. With 60 million users monthly, lastminute.com emphasizes the importance of technology in the travel industry. The collaboration will involve co-delivery of critical technologies and training, reinforcing both companies' commitment to digital innovation.
Thoughtworks (NASDAQ: TWKS) has announced plans to acquire Handmade Design, a Brazilian design consultancy known for its collaborative innovation approach. Founded in 2015, Handmade Design has delivered over 100 solutions for notable clients, including Petlove and iFood. The acquisition will enhance Thoughtworks' customer experience and design service line in Brazil. The deal is expected to close in Q3 2022, pending customary conditions, although financial specifics remain undisclosed.
Thoughtworks (NASDAQ: TWKS) announced its partnership with Holaluz at Collision 2022, targeting sustainability by reducing the latter's carbon footprint through AWS cloud optimization. By implementing the Cloud Carbon Footprint tool, they aim to identify inefficient areas in operations. Holaluz, recognized for its commitment to green energy, intends to leverage these insights for better sustainability metrics. Thoughtworks also released its Looking Glass report to guide companies in embedding sustainability into their operations, supporting industry-wide carbon emission reduction efforts.
KAR Global (NYSE: KAR) has enhanced its BacklotCars platform by introducing new condition reports developed in collaboration with Thoughtworks (NASDAQ: TWKS). These features include engine audio recordings and aim to improve customer experience by providing more accurate and consistent vehicle condition information. The initiative focuses on offering a transparent and trustworthy inspection process, helping sellers accelerate sales while ensuring buyers receive comprehensive information about vehicle conditions. This partnership is expected to streamline operations and enhance digital experiences for dealers.
Thoughtworks (NASDAQ: TWKS) partners with Cielo, a leading electronic payments company in Brazil, to develop a digital technology platform aimed at enhancing the developer experience. This collaboration seeks to streamline technology feature creation and standardize infrastructure delivery, thus improving service efficiency. The platform, named Thor, will enable faster and safer digital product development, reduce cognitive load on teams, and enhance Cielo's cloud strategy. Both companies anticipate that this partnership will accelerate product evolution and simplify delivery processes.
Thoughtworks (NASDAQ: TWKS), a global technology consultancy, will participate in five investor conferences in June 2022. The conferences include:
- Cowen 50th Annual Technology, Media & Telecom Conference on June 2 in New York, with a fireside chat from 3:55–4:25 p.m. ET.
- Baird Global Consumer Technology and Services Conference on June 6 in New York, presentation at 10:50–11:20 a.m. ET.
- William Blair & Company 42nd Annual Growth Stock Conference on June 7 in Chicago, presentation at 8:00–8:30 a.m. CT.
- Bank of America Securities Global Technology Conference on June 8 in San Francisco.
- Nasdaq 46th Investor Conference on June 14 in London, presentation at 3:30–4:00 p.m. BST.
Webcast details will be provided on Thoughtworks' investor relations website.
Thoughtworks (NASDAQ: TWKS) has partnered with Upside, a blockchain startup, to facilitate the onboarding of Web3 organizations to its digital token management platform. Upside has successfully launched tokens valued over $1B, serving over 500,000 users. This collaboration aims to enhance technology and business capabilities through an agile, platform-focused approach. Thoughtworks intends to leverage its 28+ years of digital platform experience to help Upside expedite product launches while ensuring high security and compliance with regulatory standards.
Thoughtworks (NASDAQ: TWKS) has been chosen by the New South Wales Government to create the world’s first digital birth certificate. This initiative aims to provide citizens with secure access to identity verification while addressing issues related to traditional physical documents. The digital certificate is set to be widely accepted and will complement existing paper certificates. Thoughtworks is responsible for ensuring that the digital solution meets legal, regulatory, and cybersecurity standards. The project marks a significant step toward digital transformation in identity management.
Thoughtworks reported first quarter 2022 revenues of $320.9 million, a 35.0% increase year-over-year, surpassing guidance by $15.9 million. Adjusted EBITDA reached $72.9 million, a growth of 35.4%. However, the company faced a net loss of $(59.9) million, compared to a net income in Q1 2021. Cash flow used in operations was $(6.1) million. For Q2 2022, revenues are expected between $328 million to $329 million, with adjusted EPS projected at $0.11 to $0.12.
Thoughtworks (TWKS) will release its Q1 2022 financial results on May 9, 2022, before the market opens. A conference call and webcast to discuss these results will follow at 8:00 a.m. ET the same day. Investors can access the call via phone or through the company's website. This release marks an important moment for Thoughtworks as it provides insights into their financial performance and strategic direction in digital innovation.
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