Globant S.A. Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Globant Q2 2026 Earnings Summary

Financial Highlights

  • Revenue: $614.4 million, up 1.2% sequentially and returning to slight year-over-year growth (vs. flat-to-negative trends in recent prior periods). Included 80 bps FX tailwind YoY. AI Pods contributed ~2% of total revenue.
  • Geographic Performance (YoY): Europe +6.8%, Latin America +5.9%; North America -2.4%; New Markets -17.7% (drag of ~115 bps on YoY growth due to geopolitical/project delays).
  • Client Cohorts (YoY): Top 20 clients +6.6%; Top 50 +6.9%; Top 10 +4.4%. 96% of revenue from repeat customers; 16 of top 20 relationships growing.
  • Margins: Adjusted gross margin 36.5% (slightly down YoY due to FX weakness, especially Colombia); Adjusted operating margin 13.2% (below guided range); Adjusted net income $60.3 million (9.8% margin); Adjusted diluted EPS $1.40.
  • Balance Sheet & Cash: $168.8 million cash/short-term investments; $253.1 million net debt. Q2 FCF $12.6 million; H1 2026 FCF $48.7 million (record high).
  • Other Metrics: Revenue per head $95,800 (run-rate, +9.7% YoY); Data & AI Studio ~11% of sales (+~35% YoY, now 2nd largest studio).

Glob.AI / AI Pods Strategic Updates (New Model)

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Arturo Langa: Welcome to Globant's second quarter 2026 earnings conference call. I am Arturo Langa, Investor Relations Officer at Globant. All participants on this call will be in listen-only mode. After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded and streamed live on YouTube. By now, you should have received a copy of the earnings release. If you have not, a copy is available on our website, investors.globant.com. We will begin with remarks by our Chief Executive Officer, Martín Migoya, our Chief Technology Officer, Diego Tartara, and our Chief Financial Officer, Juan Urthiague, followed by a Q&A where they will be joined by our Chief Revenue Officer, Fernando Matzkin. Before we begin, I would like to remind you that some of the comments on our call today may be deemed forward-looking statements. This includes our business and financial outlook and the answers to some of your questions. Such statements are subject to the risks and uncertainties as described in the company's earnings release and other filings with the SEC. Please note that we follow IFRS accounting rules in our financial statements. During our call today, we will report non-IFRS or adjusted measures, which is how we track performance internally and the easiest way to compare Globant to our peers in the industry. You will find a reconciliation of IFRS and non-IFRS measures at the end of the press release we published on our investor relations we

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