$GLOB

Source: Datapoint

• The company increased its employee base by 7% sequentially (i.e., against the first quarter of 2019), to 9,905 employees. Out of this total, 9,215 were revenue-generating positions spread across “technology, design, and innovation professionals.” Employee base growth is an important metric for those who follow Globant, as it reflects current opportunity as well as investments in labor capacity to meet expected future expansion.
• Globant is making progress in its goal to diversify its revenue base. The company pointed out that in the year ended June 30th, 97 out of 585 customers generated more than $1 million in revenue. Disney remained Globant’s largest customer during the second quarter, accounting for 10.4% of total revenue. The company’s top five and top ten customers represented 27.2% and 41% of revenue, respectively.
• The organization continued to increase its presence in Latin America. Latin American services sales rose by three percentage points to 16% of total revenue during the quarter. This came mostly at the expense of North American sales, which decreased from 78.4% to 75.2% of total revenue. European sales as a percentage of the total top line increased slightly, from 8.5% to 8.7%.
• Gross margin crept up 20 basis points to 38.5%, while operating margin decreased by 20 basis points to 12.3%. 
• After quarter-end, on Aug. 12, the company announced the acquisition of Belatrix Software, a software product development company with operations in the U.S., Spain, Argentina, Peru, and Columbia. Belatrix employs roughly 600 IT professionals and specializes in agile product development and digital transformation. Globant didn’t disclose terms of the deal. 

The IT solutions provider sees growth accelerating in the last two quarters of the year.

source https://finance.yahoo.com/news/globant-lifts-full-guidance-strong-214700929.html?.tsrc=rss