23:05:41 EDT Thu 13 Aug 2026
Enter Symbol
or Name
USA
CA



Globant Reports 2026 Second Quarter Financial Results

2026-08-13 16:15 ET - News Release

Globant Reports 2026 Second Quarter Financial Results

PR Newswire

LUXEMBOURG, Aug. 13, 2026 /PRNewswire/ -- Globant (NYSE: GLOB) today announced results for the three and six months ended June 30, 2026.

"Glob.AI ARR reached $52.8 million in the second quarter, up 61% quarter-over-quarter, and we now expect no less than $110 million exiting 2026. Alongside that, Globant's revenue for Q2 reached $614.4 million and free cash flow reached $12.6 million in the quarter, compared to negative $2.9 million a year ago, capping our strongest first half of cash generation on record. Last week we opened Glob.AI to the entire market, a single platform where any enterprise can deploy AI Pods and pay on the output or consumption they receive rather than on the hours behind it. Supported by partnerships with Anthropic, Vercel and OpenAI, among others, we are changing how our services are delivered and how they are priced," explained Martín Migoya, Globant's CEO and co-founder.

"In the second quarter of 2026, Globant demonstrated resilient execution, generating $614.4 million in revenue--within our guided range--and delivering record free cash flow generation for the first half of the year. Expansion across our top accounts remained strong, reflecting a 6.9% year-over-year increase in our top 50 clients alongside accelerating market adoption of our higher-margin AI Pods and Glob.AI platform. To navigate broader market volatility and to align with our business model transformation needs, we proactively optimized our structure during the quarter, all while we continued executing on our share repurchase program," explained Juan Urthiague, Globant's CFO.

Please see highlights below. Note that reconciliations between IFRS and Non-IFRS financial measures are disclosed at the end of this press release.

Second Quarter 2026 Financial Highlights

  • Revenues were $614.4 million, remaining generally unchanged from the prior year quarter.
  • IFRS Gross Profit Margin was 33.9% compared to 35.4% in the second quarter of 2025.
  • Non-IFRS Adjusted Gross Profit Margin was 36.5% compared to 38.1% in the second quarter of 2025.
  • IFRS Profit from Operations Margin was 3.2% compared to 1.0% in the second quarter of 2025.
  • Non-IFRS Adjusted Profit from Operations Margin was 13.2% compared to 15.0% in the second quarter of 2025.
  • IFRS Diluted EPS was $0.04 compared to $(0.05) in the second quarter of 2025.
  • Non-IFRS Adjusted Diluted EPS was $1.40 compared to $1.53 in the second quarter of 2025.

Other Financial Highlights as of and for the quarter ended June 30, 2026

  • Cash and cash equivalents and Short-term investments were $168.8 million as of June 30, 2026.
  • The Company invested $25.0 million during the second quarter, completing its original share repurchase program. As of June 30, 2026, the Company had $125.0 million available for repurchase under its new share repurchase authorization.
  • Globant completed the second quarter of 2026 with 27,411 Globers, 25,632 of whom were technology, design and innovation professionals.
  • The geographic revenue breakdown for the second quarter of 2026 was as follows: 52.8% from North America (top country: US), 20.8% from Latin America (top country: Argentina), 20.9% from Europe (top country: Spain) and 5.5% from New Markets[1] (top country: Saudi Arabia).
  • Globant's top customer, top five customers and top ten customers for the second quarter of 2026 represented 8.9%, 21.6% and 30.6% of revenues, respectively.
  • During the twelve months ended June 30, 2026, Globant served a total of 904 customers (with revenues over $100,000 in the last twelve months), with 331 accounts generating more than $1 million of annual revenues, compared to 339 for the same period one year ago.
  • In terms of currencies, 63.0% of Globant's revenues for the second quarter of 2026 were denominated in US dollars.

2026 Third Quarter and Full Year Outlook

Based on current market conditions, Globant is providing the following estimates for the third quarter and the full year of 2026:

  • Third quarter 2026 Revenues are estimated to be in the range of $607 million to $615 million, representing a 1.6% to 0.3% year-over-year decline. This outlook includes a positive FX impact of 25 basis points.
  • Third quarter 2026 Non-IFRS Adjusted Profit from Operations Margin is estimated to be in the range of 13.5% to 14.5%.
  • Third quarter 2026 Non-IFRS Adjusted Diluted EPS is estimated to be in the range of $1.43 to $1.53 (assuming an average of 43.2 million diluted shares outstanding during the third quarter).
  • Fiscal year 2026 Revenues are estimated to be in the range of $2,428 million to $2,462 million, implying a 1.1% year-over-year decline to 0.3% year-over-year revenue growth. This expected growth includes a positive FX impact of 70 basis points.
  • Fiscal year 2026 Non-IFRS Adjusted Profit from Operations Margin is estimated to be in the range of 13.5% to 14.5%.
  • Fiscal year 2026 Non-IFRS Adjusted Diluted EPS is estimated to be in the range of $5.75 to $6.15 (assuming an average of 43.6 million diluted shares outstanding during 2026).

Shareholder Letter, Conference Call and Webcast
A shareholder letter will be available in the Investor Relations section of Globant's website.

Martin Migoya, Chief Executive Officer and co-founder, Diego Tártara, Chief Technology Officer, Juan Urthiague, Chief Financial Officer, and Fernando Matzkin, Chief Revenue Officer, will discuss the results in a video conference call and a live Q&A session beginning today at 4:30 pm ET.

Video conference call access information is:
https://more.globant.com/F2Q26EarningsCall
Webcast http://investors.globant.com/


[1] Represents Asia, Oceania and the Middle East.

About Globant (NYSE:GLOB)
At Globant, we help organizations thrive in a digital and AI-powered future. Our industry-focused solutions combine technology and creativity to accelerate enterprise transformation and design experiences customers demand. Through digital reinvention, our subscription-based AI Pods, and Globant Enterprise AI platform, we turn challenges into measurable business results and promised savings into real impact.

We have more than 27,400 employees and we are present in more than 30 countries across 5 continents working for companies like Google, Electronic Arts and Santander, among others.

We were named a Worldwide Leader in CX Improvement by IDC MarketScape report. We were also featured as a business case study at Harvard, MIT and Stanford. We are a member of the Cybersecurity Tech Accord.

For more information, please visit www.globant.com

Non-IFRS Financial Measures
While the financial figures included in this press release have been computed in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board ("IASB"), this announcement does not contain sufficient information to constitute an interim financial report as defined in International Accounting Standards 34, "Interim Financial Reporting" or a financial statement as defined by International Accounting Standards 1 "Presentation of Financial Statements". The financial information in this press release has not been audited.

Globant provides non-IFRS financial measures in addition to reported IFRS results prepared in accordance with IFRS Accounting Standards. Management believes these measures help illustrate underlying trends in the company's business and uses the non-IFRS financial measures to establish budgets and operational goals, communicated internally and externally, for managing the company's business and evaluating its performance. The company anticipates that it will continue to report both IFRS and certain non-IFRS financial measures in its financial results, including non-IFRS measures that exclude share-based compensation expense, depreciation and amortization, acquisition-related charges, business optimization costs, and the related effect on income taxes of the pre-tax adjustments. Because the company's non-IFRS financial measures are not calculated according to IFRS, these measures are not comparable to IFRS and may not necessarily be comparable to similarly described non-IFRS measures reported by other companies within the company's industry. Consequently, Globant's non-IFRS financial measures should not be evaluated in isolation or supplant comparable IFRS measures, but, rather, should be considered together with its condensed interim consolidated statements of financial position as of June 30, 2026 and December 31, 2025 and its condensed interim consolidated statements of comprehensive income for the three and six months ended June 30, 2026 and 2025, prepared in accordance with International Accounting Standard ("IAS") 34, "Interim Financial Reporting".

Globant is not providing a quantitative reconciliation of forward-looking Non-IFRS Adjusted Profit from Operations Margin or Non-IFRS Adjusted Diluted EPS to the most directly comparable IFRS measure because it is unable to predict with reasonable certainty the ultimate outcome of certain significant items without unreasonable effort. These items include, but are not limited to, share-based compensation expense, acquisition-related charges, business optimization costs, and the tax effect of non-IFRS adjustments. These items are uncertain, depend on various factors, and could have a material impact on IFRS reported results for the guidance period.

Forward Looking Statements
In addition to historical information, this release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "predict," "potential," or the negative of these terms or other similar expressions. These statements include, but are not limited to, statements regarding our future financial and operating performance, including our outlook and guidance, and our strategies, priorities and business plans. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could impact our actual results include: our ability to maintain current resource utilization rates and productivity levels; our ability to manage attrition and attract and retain highly-skilled IT professionals; our ability to accurately price our client contracts; our ability to achieve our anticipated growth; our ability to effectively manage our rapid growth; our ability to retain our senior management team and other key employees; our ability to continue to innovate and remain at the forefront of emerging technologies and related market trends; our ability to retain our business relationships and client contracts; our ability to manage the impact of global adverse economic conditions; our ability to manage uncertainty concerning the instability in the current economic, political and social environment in Latin America; and other factors discussed under the heading "Risk Factors" in our most recent Form 20-F filed with the U.S. Securities and Exchange Commission and any other risk factors we include in subsequent reports on Form 6-K.

Additionally, while we have concluded, for the three- and six-month periods ended June 30, 2026 presented in the condensed interim consolidated statements of comprehensive income included in this press release, that our goodwill and intangible assets are not impaired, changes in economic or operating conditions impacting our estimates and assumptions could, as noted in our most recent Form 20-F, result in the impairment of our goodwill and intangible assets in future periods.

Because of these uncertainties, you should not make any investment decisions based on our estimates and forward-looking statements. Except as required by law, we undertake no obligation to publicly update any forward-looking statements for any reason after the date of this press release whether as a result of new information, future events or otherwise.

Globant S.A.
Condensed Interim Consolidated Statements of Comprehensive Income
(In thousands of U.S. dollars, except per share amounts, unaudited)

                                                                                      Six months ended                             Three Months Ended


                                                                        June 30, 2026                  June 30, 2025  June 30, 2026                   June 30, 2025



 Revenues                                                                  1,221,502                       1,225,265         614,417                          614,180



 Cost of revenues                                                          (803,785)                      (794,394)      (406,181)                       (396,539)



 
          Gross profit                                                     417,717                         430,871         208,236                          217,641





 Selling, general and administrative expenses                              (312,749)                      (321,238)      (154,343)                       (159,543)



 Net impairment losses on financial assets                                   (2,486)                        (6,339)        (1,692)                         (4,660)



 Business Optimization Costs                                                (32,346)                       (47,580)       (32,346)                        (47,580)



 Other operating income and expenses, net                                      1,391



 
          Profit from operations                                            71,527                          55,714          19,855                            5,858





 Finance income                                                                3,161                           1,923           1,339                              978



 Finance expense                                                            (18,640)                       (20,599)        (9,208)                        (10,972)



 Other financial results, net                                                  1,461                             861           (299)                           (239)



 
          Financial results, net                                          (14,018)                       (17,815)        (8,168)                        (10,233)





 Share of results of investment in associates                                   (51)                              6              14                               23



 Other income and expenses, net                                              (2,436)                        (3,385)        (7,353)                           (114)



 
          Profit before income tax                                          55,022                          34,520           4,348                          (4,466)





 Income tax                                                                 (12,645)                        (7,749)          (741)                             742



 
          Net income for the period                                         42,377                          26,771           3,607                          (3,724)





 Other comprehensive income (loss) net of income tax effects



 Items that may be reclassified subsequently to profit and loss:



 - Exchange differences on translating foreign operations                   (14,539)                         80,377         (8,896)                          51,288



 - Remeasurement on defined benefit plan                                         553                                            357



 - Net change in fair value on financial assets measured at FVOCI              (182)                        (5,798)          (182)                         (5,798)



 
          - Gains and losses on cash flow hedges                             2,888                          13,158           6,504                            3,000



 
          Total comprehensive income for the period                         31,097                         114,508           1,390                           44,766





 
          Net income attributable to:



 Owners of the Company                                                        38,746                          28,252           1,767                          (2,383)



 Non-controlling interest                                                      3,631                         (1,481)          1,840                          (1,341)



 
          Net income for the period                                         42,377                          26,771           3,607                          (3,724)





 
          Total comprehensive income for the period attributable to:



 Owners of the Company                                                        29,346                         109,574             299                           41,850



 Non-controlling interest                                                      1,751                           4,934           1,091                            2,916



 
          Total comprehensive income for the period                         31,097                         114,508           1,390                           44,766





 
          Earnings per share



 Basic                                                                          0.90                            0.64            0.04                            -0.05



 Diluted                                                                        0.89                            0.62            0.04                            -0.05



 
          Weighted average of outstanding shares (in thousands)



 Basic                                                                        43,035                          44,177          42,858                           44,298



 Diluted                                                                      43,405                          45,424          43,228                           44,298



Globant S.A.
Condensed Interim Consolidated Statements of Financial Position as of June 30, 2026 and December31, 2025
(In thousands of U.S. dollars, unaudited)



                                                        June 30, 2026 December 31, 2025



   
            ASSETS



   
            
              Current assets

---


   Cash and cash equivalents                                 163,766            243,742



   Investments                                                 5,049              6,594



   Trade receivables                                         622,794            577,673



   Other assets                                               32,816             35,117



   Other receivables                                          78,564             84,405



   Other financial assets                                      8,893              6,226



   Total current assets                                      911,882            953,757





   
            
              Non-current assets

---


   Investments                                                 2,578              2,489



   Other assets                                                3,164              4,424



   Other receivables                                          61,148             49,496



   Deferred tax assets                                        99,049             91,065



   Investment in associates                                    1,053              1,727



   Other financial assets                                     30,990             29,930



   Property and equipment                                    127,602            137,331



   Intangible assets                                         312,126            345,951



   Right-of-use assets                                        87,208            100,542



   Goodwill                                                1,595,460          1,601,523



   Total non-current assets                                2,320,378          2,364,478



   
            TOTAL ASSETS                               3,232,260          3,318,235





   
            LIABILITIES



   
            
              Current liabilities

---


   Trade payables                                            118,374            112,590



   Payroll and social security taxes payable                 196,530            203,395



   Borrowings                                                 19,364             19,666



   Other financial liabilities                                97,811            169,605



   Lease liabilities                                          25,739             28,511



   Tax liabilities                                            20,969             33,205



   Income tax payable                                         14,121             10,730



   Other liabilities                                           1,568              2,591



   Total current liabilities                                 494,476            580,293





   
            
              Non-current liabilities

---


   Trade payables                                              1,312              3,684



   Borrowings                                                402,591            347,040



   Other financial liabilities                                50,179             90,499



   Lease liabilities                                          70,160             78,428



   Deferred tax liabilities                                   26,469             30,906



   Income tax payable                                          2,077              1,428



   Payroll and social security taxes payable                   2,144              2,358



   Contingent liabilities                                      8,929             21,963



   Total non-current liabilities                             563,861            576,306



   
            TOTAL LIABILITIES                          1,058,337          1,156,599





   
            Capital and reserves



   Issued capital                                             52,112             52,604



   Additional paid-in capital                              1,159,072          1,167,979



   Other reserves                                          (102,121)          (92,721)



   Retained earnings                                       1,004,485            965,739



   Total equity attributable to owners of the Company      2,113,548          2,093,601



   Non-controlling interests                                  60,375             68,035



   Total equity                                            2,173,923          2,161,636



   
            TOTAL EQUITY AND LIABILITIES               3,232,260          3,318,235

Globant S.A.
Selected Cash Flow Data
(In thousands of U.S. dollars, unaudited)

                                                                              Three Months Ended


                                                                June 30, 2026                    June 30, 2025



 Net Income for the period                                             3,607                           (3,724)



 Non-cash adjustments, taxes and others                               60,976                            57,883



 Changes in working capital                                         (34,366)                         (32,281)



 
            Cash flows from operating activities                    30,217                            21,878



 Capital expenditures                                               (17,584)                         (24,735)



 
            Cash flows from investing activities                  (22,134)                         (68,763)



 
            Cash flows from financing activities                  (39,213)                          103,757



 
            Net increase/decrease in cash & cash equivalents      (31,130)                           56,872

Globant S.A.
Supplemental Non-IFRS Financial Information
(In thousands of U.S. dollars, unaudited)

                                                                                                    Six Months Ended                              Three Months Ended


                                                                                      June 30, 2026                  June 30, 2025  June 30, 2026                    June 30, 2025





 
            Reconciliation of adjusted gross profit



 Gross profit                                                                              417,717                         430,871         208,236                           217,641



 Depreciation and amortization expense                                                      23,734                          22,241          12,145                            11,085



 Share-based compensation expense - Equity settled                                           7,147                          13,203           3,841                             5,513



 
            Adjusted gross profit                                                        448,598                         466,315         224,222                           234,239



 
            Adjusted gross profit margin                                                  36.7 %                         38.1 %         36.5 %                           38.1 %





 
            Reconciliation of selling, general and administrative expenses



 Selling, general and administrative expenses                                            (312,749)                      (321,238)      (154,343)                        (159,543)



 Depreciation and amortization expense                                                      52,573                          59,594          26,029                            29,939



 Share-based compensation expense - Equity settled                                          29,729                          27,660          14,835                            14,275



 Acquisition-related charges (a)                                                             3,495                          12,206           (922)                            5,639



 
            Adjusted selling, general and administrative expenses                      (226,952)                      (221,778)      (114,401)                        (109,690)



 
            Adjusted selling, general and administrative expenses as % of revenues      (18.6) %                       (18.1) %       (18.6) %                         (17.9) %





 
            Reconciliation of adjusted profit from operations



 Profit from operations                                                                     71,527                          55,714          19,855                             5,858



 Share-based compensation expense - Equity settled                                          36,876                          40,863          18,676                            19,788



 Business optimization costs (b)                                                            32,346                          47,580          32,346                            47,580



 Acquisition-related charges (a)                                                            25,534                          38,477           9,982                            18,872



 
            Adjusted profit from operations                                              166,283                         182,634          80,859                            92,098



 
            Adjusted profit from operations margin                                        13.6 %                         14.9 %         13.2 %                           15.0 %





 
            Reconciliation of net income for the period



 Net income for the period                                                                  38,746                          28,252           1,767                           (2,383)



 Share-based compensation expense - Equity settled                                          37,234                          40,378          19,047                            19,359



 Business optimization costs (b)                                                            32,294                          46,453          32,294                            46,453



 Acquisition-related charges (a)                                                            42,249                          54,266          23,906                            26,309



 Tax effect of non-IFRS adjustments                                                       (25,012)                       (31,811)       (16,665)                         (20,035)



 
            Adjusted net income                                                          125,511                         137,538          60,349                            69,703



 
            Adjusted net income margin                                                    10.3 %                         11.2 %          9.8 %                           11.3 %





 
            Calculation of adjusted diluted EPS



 Adjusted net income                                                                       125,511                         137,538          60,349                            69,703



 Diluted shares                                                                             43,405                          45,424          43,228                            45,545



 
            Adjusted diluted EPS                                                            2.89                            3.03            1.40                              1.53

  1. Acquisition-related charges include, when applicable, amortization of purchased intangible assets, interest charges on acquisition-related indebtedness, external deal costs, acquisition-related retention bonuses, integration costs, changes in the fair value of contingent consideration liabilities, and other acquisition-related costs. We cannot provide acquisition-related charges on a forward-looking basis without unreasonable effort as such charges may fluctuate based on the timing, size, and complexity of future acquisitions as well as other uncertainty inherent in mergers and acquisitions.
  2. One-time charges for the three and six months ended June 30, 2026 and 2025, related to the Company's Business Optimization Programs initiated in April 2026 and April 2025, respectively. These charges, primarily related to workforce resizing and office reductions, have been excluded from non-IFRS results as these are one-time and unusual in nature.

Globant S.A.
Schedule of Supplemental Information (unaudited)

                                           
          
         Metrics Q2 2025 Q3 2025  Q4 2025   Q1 2026    Q2 2026





          Total Employees                                               30,084   29,020    28,773     28,510      27,411



          IT Professionals                                              28,097   27,123    26,906     26,702      25,632




North America Revenues %                                                 54.1     53.8      53.8       53.5        52.8


Latin America Revenues %                                                 19.7     19.9      21.1       20.5        20.8


Europe Revenues %                                                        19.6     19.4      19.3       19.7        20.9


New Markets Revenues %                                                    6.6      6.9       5.8        6.3         5.5




USD Revenues %                                                           64.1     63.2      64.0       64.5        63.0


Other Currencies Revenues %                                              35.9     36.8      36.0       35.5        37.0




Top Customer %                                                            8.6      8.7       8.5        8.9         8.9


Top 5 Customers %                                                        20.3     20.7      20.5       21.1        21.6


Top 10 Customers %                                                       29.3     29.5      29.4       30.5        30.6





          Customers Served (Last Twelve Months)*                           981      978       944        943         904



          Customers with >$1M in Revenues (Last Twelve Months)             339      339       336        333         331



(*) Represents customers with more than $100,000 in revenues in the last twelve months.

Investor Relations Contact:
Arturo Langa, Globant
investors@globant.com
+1 (877) 215-5230

Media Contact:
Gregorio Lascano, Globant
pr@globant.com
+1 (877) 215-5230

View original content to download multimedia:https://www.prnewswire.com/news-releases/globant-reports-2026-second-quarter-financial-results-302851301.html

SOURCE Globant

© 2026 Canjex Publishing Ltd. All rights reserved.