GLOB FY 2023 Earnings Report — Globant S.A. Revenue & Financial Results | Market Cap Arena

Globant S.A.GLOB

FY 2023 Earnings

Reported February 29, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$2.1B	—	$1.8B	—	17.7%
Op. Income	$199M	—	$207M	—	-3.7%
Gross Margin	36.1%	—	37.6%	—	-1.5pp
Net Margin	7.6%	—	8.4%	—	-0.8pp
EPS (Diluted)	$3.64	—	$3.47	—	4.9%
Free Cash Flow	$192M	—	$102M	—	87.8%

Revenue Flow

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.3B
GROSS PROFIT	$756M
R&D Expenses	$0
Selling & Marketing	$26M
General & Administrative	$379M
SG&A Expenses	$406M
Other Expenses	$151M
Operating Expenses	$557M
Cost & Expenses	$1.9B
OPERATING INCOME	$199M
Interest Income	$5M
Interest Expense	$24M
Other Income/Expenses	-$943.0K
INCOME BEFORE TAX	$198M
Income Tax Expense	$40M
Net Income from Continuing Ops	$159M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$159M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$159M
D&A	$140M
EBIT	$218M
EBITDA	$358M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.3B
GROSS PROFIT	$756M
R&D Expenses	$0
Selling & Marketing	$26M
General & Administrative	$379M
SG&A Expenses	$406M
Other Expenses	$151M
Operating Expenses	$557M
Cost & Expenses	$1.9B
OPERATING INCOME	$199M
Interest Income	$5M
Interest Expense	$24M
Other Income/Expenses	-$943.0K
INCOME BEFORE TAX	$198M
Income Tax Expense	$40M
Net Income from Continuing Ops	$159M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$159M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$159M
D&A	$140M
EBIT	$218M
EBITDA	$358M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$159M
Depreciation & Amortization	$140M
Stock-Based Compensation	$73M
Deferred Income Tax	-$35M
Other Non-Cash Items	$40M
Change in Working Capital	-$58M
OPERATING CASH FLOW	$319M
Capital Expenditure	-$127M
Acquisitions (Net)	-$267M
Purchases of Investments	-$643M
Sales/Maturities of Investments	$666M
Other Investing Activities	$20M
NET CASH FROM INVESTING	-$350M
Net Debt Issuance	$85M
Common Stock Repurchased	-$12M
Common Dividends Paid	$0
Other Financing Activities	-$29M
NET CASH FROM FINANCING	$45M
FREE CASH FLOW	$192M
Net Change in Cash	$15M

Balance Sheet

Item	Amount
Cash & Equivalents	$307M
Short-Term Investments	$20M
Net Receivables	$557M
Inventory	$0
Other Current Assets	$11M
TOTAL CURRENT ASSETS	$925M
PP&E (Net)	$282M
Goodwill	$1.1B
Intangible Assets	$286M
Long-Term Investments	$38M
Tax Assets	$61M
Other Non-Current Assets	$31M
TOTAL NON-CURRENT ASSETS	$1.8B
TOTAL ASSETS	$2.7B
Account Payables	$48M
Short-Term Debt	$157M
Deferred Revenue	$8M
Other Current Liabilities	$240M
TOTAL CURRENT LIABILITIES	$665M
Long-Term Debt	$2M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$21M
Other Non-Current Liabilities	$172M
TOTAL NON-CURRENT LIABILITIES	$266M
TOTAL LIABILITIES	$931M
Common Stock	$52M
Additional Paid-In Capital	$1.0B
Retained Earnings	$697M
Treasury Stock	$0
Accum. Other Comp. Income	-$42M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$66M
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$2.7B
Total Debt	$278M
Net Debt	-$29M