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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 been recognized by Forrester as a Leader in Cloud Migration and Managed Services in China and Asia Pacific for Q4 2022. The evaluation highlighted Thoughtworks' superior scores in criteria like AWS support and cloud modernization services in China, and cloud advisory and management tools in APAC. Dr. Rebecca Parsons commented on the consistent strength in software engineering skills enhancing their modernization capabilities. This recognition demonstrates Thoughtworks' commitment to impactful cloud migration services.
Thoughtworks (TWKS) partners with Space International to enhance its digital banking platform, supporting its expansion in the Caucasus and Central Asia. The project aims to modernize Space International’s engineering processes, enabling growth and scalability. Notably, Space International has achieved three million users in under three years. The collaboration emphasizes using microservices and modern practices to improve agility and customer experience. Thoughtworks was selected for its practical approach to technology transformation, marking a significant relationship in the region.
Thoughtworks (NASDAQ: TWKS) has released its annual report, Looking Glass, outlining key technology trends that will shape business in 2023 and beyond. The report emphasizes crucial areas such as sustainability, Web3 opportunities, and the importance of AI partnerships. Dr. Rebecca Parsons highlighted the need for businesses to focus on tangible benefits of Web3, while the report also discusses the rise of platforms, the metaverse, and security concerns. This strategic guidance aims to help leaders navigate emerging technologies and maintain competitiveness.
Thoughtworks (NASDAQ: TWKS) announced that its subsidiary, Thoughtworks Federal, secured a Multiple Award Schedule (MAS) contract from the U.S. General Services Administration (GSA). This contract enables government agencies at all levels to access Thoughtworks’ expertise in digital strategy, data engineering, enterprise modernization, and customer experience. The award marks a significant milestone in providing premium technology services to the U.S. public sector, allowing for streamlined procurement and enhanced digital transformation efforts.
Thoughtworks (TWKS) reported third-quarter 2022 revenues of $332.4 million, marking a 16.6% year-over-year increase, or 23.9% in constant currency. Despite revenue growth, the company faced a net loss of $(31.4) million, widening from $(25.2) million in Q3 2021. Adjusted EBITDA reached $67.2 million with a margin of 20.2%, down from 23.3%. Stock-based compensation decreased to $48.9 million. For Q4 2022, Thoughtworks anticipates revenues between $303 million and $309 million, with an adjusted diluted EPS forecast of $0.08 to $0.09.
Thoughtworks (NASDAQ: TWKS) announced a partnership with Women@TheTable at Web Summit 2022 to enhance women's influence at global events through the Gender Gap application (G-app). This open-source, Google Cloud-based tool analyzes speaker demographics and session recordings to address representation and participation discrepancies. Initial testing revealed a significant gender imbalance in speaking time, highlighting the need for systemic change. With 25+ years of tech excellence, Thoughtworks aims to drive digital innovation while promoting equity in decision-making processes.
Thoughtworks (TWKS) will report its Q3 2022 financial results on November 14, 2022, before market open. A conference call and webcast will follow at 8:00 a.m. ET on the same day. Investors can register for the call and access the results through the company's investor relations website. Thoughtworks, a global technology consultancy, focuses on integrating strategy, design, and engineering to promote digital innovation, operating across 50 offices in 18 countries.
Thoughtworks (NASDAQ: TWKS) has released Volume 27 of its Technology Radar, highlighting advancements in machine learning (ML) accessibility for smaller organizations. The report emphasizes the mainstreaming of ML, the role of platforms, the importance of data ownership decentralization, and the benefits of modular mobile development. With better computational power and open-source tools, ML is now more achievable for many. However, the report warns about vulnerabilities and biases in training data. The Technology Radar aims to guide organizations in effectively leveraging these technologies.
Thoughtworks (NASDAQ: TWKS) announced a collaboration with Zones, LLC to enhance the e-ordering process for customers in over 100 countries. This partnership aims to modernize Zones' enterprise eCommerce platform, boosting operational efficiency. The initiative focuses on streamlining customer orders through multiple electronic channels to reduce turnaround times and improve service delivery. The partnership emphasizes agile methodologies and a customer-driven redesign of the global order processing platform, highlighting the importance of digital transformation in today’s fast-paced market.
Thoughtworks (NASDAQ: TWKS) has announced a collaboration with the American Society of Clinical Oncology (ASCO) to enhance its digital platforms for oncologists. This partnership aims to streamline and improve user experiences across applications and websites. With a focus on agile delivery and modern DevOps practices, both teams will work together to deliver high-quality digital experiences. This collaboration is part of ASCO's ongoing digital evolution, reflecting their commitment to provide valuable services to their global network of oncology professionals.
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