Overview
- Globant’s Q2 revenue reached $614.2 million, a 4.5% increase that slightly topped its $612 million forecast but resulted in a $3.7 million net loss.
- The loss included a one-time $47.6 million ‘Plan of Business Optimization’ charge intended to improve short-term profitability.
- The company announced a 3% workforce reduction, cutting around 1,018 jobs, and confirmed the departure of COO Patricia Pomies.
- Net debt jumped by $221.1 million year-over-year, prompting analysts to question whether recent acquisitions were overpriced.
- Management issued muted growth projections for Q3 and fiscal 2025 while emphasizing a record $3.7 billion backlog and AI-driven initiatives.