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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) has released Volume 26 of its Technology Radar, a report focused on digital innovation and security in software supply chains. This edition emphasizes practical security measures for businesses following a rise in serious cyber breaches. Key themes include innovations in software supply chains, the evolving economics of open-source software, and the importance of data catalogs. The report highlights the growing necessity for organizations to adopt responsible engineering practices and validate software dependencies to enhance overall security.
Thoughtworks (NASDAQ: TWKS) partners with Siam Makro, a leading wholesale retailer in Thailand, to enhance its B2B sales infrastructure. This collaboration aims to create an insights-driven intelligence platform that prioritizes data automation, analytics, and customer-focused transformation. The initiative will implement data mesh principles to boost real-time decision-making and operational efficiency. Both companies expect this partnership to drive greater innovation and growth in the retail sector, responding effectively to evolving customer engagement needs.
Thoughtworks reported annual revenues exceeding $1 billion, with a 39.0% revenue growth in Q4 2021 and 33.2% for the full year, totaling $1,069.9 million. Despite revenue growth, the company posted a net loss of $(35.1) million for Q4, significantly worse than the prior year's profit. Stock-based compensation rose sharply to $74.5 million in Q4, impacting margins. For 2022, the company expects revenue growth of 25%-26% year-over-year, with Q1 revenue forecasted between $303-305 million.
Thoughtworks (TWKS) has announced that it will report its financial results for the fourth quarter and full year 2021 on March 1, 2022, before market opening. A conference call is scheduled for the same day at 8:00 a.m. ET, where details regarding earnings, revenue, and outlook will be discussed. Investors can access the call through specified dialing options or via a webcast available on their investor relations page. The company emphasizes its commitment to transparency through various communication channels.
Thoughtworks (NASDAQ: TWKS) has announced an expansion of its strategic collaboration with Storable, a leading self-storage technology provider. This partnership aims to enhance self-storage operations by leveraging Thoughtworks' expertise in digital product development, architecture, and technology. The collaborative efforts will focus on creating a scalable technology platform and optimizing engineering practices such as DevOps and CI/CD. Storable's CEO, Chuck Gordon, expressed enthusiasm for this partnership, highlighting its potential to drive efficiency and innovation in the self-storage industry.
Thoughtworks (TWKS) will announce its fourth quarter and full year 2021 financial results on March 1, 2022, before market open. A conference call will follow at 8:00 a.m. ET, accessible via toll-free numbers in the USA and Canada. Investors can also join through an international dial-in. The call's Conference ID is 3394017. A replay will be available three hours post-call for seven days, alongside an archived webcast on Thoughtworks' investor relations site.
Thoughtworks (NASDAQ: TWKS) has partnered with Standard Chartered to develop a cloud-based digital banking platform aimed at enhancing services for retail and wealth customers globally. This multi-year collaboration will leverage Thoughtworks' digital innovation expertise and Standard Chartered’s banking experience to create a future-ready infrastructure. The partnership underscores the growing need for banks to provide seamless digital services to elevate customer banking experiences.
Thoughtworks (NASDAQ: TWKS) has signed a multi-year agreement with John Deere, aiming to build a scalable technology architecture that enhances digital services for customers and dealers. The collaboration will focus on creating microservices and analytics solutions guided by DevOps principles to refine the customer journey. CEO Chris Murphy emphasizes the need for companies to adapt to evolving customer expectations.
This partnership marks a significant effort to innovate digital experiences in the agriculture and construction sectors.
Thoughtworks (NASDAQ: TWKS) has released its annual report, Looking Glass, highlighting technology-driven shifts impacting businesses in 2022 and beyond. The report emphasizes the convergence of physical and digital worlds, the rising importance of AI and machine learning, the necessity for sustainability, the evolving definition of 'hostile tech', and the strategic significance of platform building. Thoughtworks aims to help companies navigate these shifts to enhance competitiveness and ethical technology usage.
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