LUXEMBOURG, Feb. 26, 2026 /PRNewswire/ -- Globant (NYSE: GLOB) today announced results for the three and twelve months ended December 31, 2025.

"Twenty-three years ago, we set out to build a company that would reinvent how technology gets created. Today, we are reinforcing that commitment. In 2025, we delivered our highest revenue and strongest free cash flow ever, while simultaneously transforming our entire delivery model. As the world shifts from experiment to implementation, our AI-native Pods present a new approach on how software is built and scaled. We are moving beyond the traditional 'seats' model by introducing a token-based, intelligent subscription model that offers our clients total corporate sovereignty. We aren't just riding the AI wave; we want to re-define what the next era of professional services actually looks like," said Martín Migoya, Globant's CEO and co-founder.

"We are excited about what lies in the future. Our solid bookings, a pipeline exceeding $3 billion, and $20.6 million in ARR generated from our AI Pods are indicators of how we are executing our vision. These results are supported by a solid finish of the past year, with fourth-quarter revenue reaching $612.5 million, exceeding our guidance and reflecting an improvement in client sentiment. We maintained a consistent 15.5% adjusted operating margin through strong operational discipline. I am also proud of our record cash generation, achieving $152.8 million in quarterly free cash flow, the highest in our company's history. As we begin 2026, we remain focused on maintaining our discipline to capture the opportunities in our robust pipeline," 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.

Fourth Quarter 2025 Financial Highlights

Revenues were $612.5 million, exceeding the company's guidance and representing 4.7% year-over-year decline.
IFRS Gross Profit Margin was 34.9% compared to 35.7% in the fourth quarter of 2024.
Non-IFRS Adjusted Gross Profit Margin was 37.6% compared to 38.3% in the fourth quarter of 2024.
IFRS Profit from Operations Margin was 9.7% compared to 9.1% in the fourth quarter of 2024.
Non-IFRS Adjusted Profit from Operations Margin was 15.5% compared to 15.7% in the fourth quarter of 2024.
IFRS Diluted EPS was $0.93 compared to $0.85 in the fourth quarter of 2024.
Non-IFRS Adjusted Diluted EPS was $1.54 compared to $1.75 in the fourth quarter of 2024.

Full Year ended December 31, 2025 Financial Highlights

Revenues rose to $2,454.9 million, representing 1.6% year-over-year growth.
IFRS Gross Profit Margin was 35.0% compared to 35.7% for the full year 2024.
Non-IFRS Adjusted Gross Profit Margin was 37.9% compared to 38.2% for the full year 2024.
IFRS Profit from Operations Margin was 7.0% compared to 9.3% for the full year 2024.
Non-IFRS Adjusted Profit from Operations Margin was 15.2% compared to 15.4% for the full year 2024.
IFRS Diluted EPS was $2.29 compared to $3.72 for the full year 2024.
Non-IFRS Adjusted Diluted EPS was $6.14 compared to $6.40 for the full year 2024.

Other Financial Highlights for the Twelve Months ended December 31, 2025

Cash and cash equivalents and Short-term investments were $250.3 million as of December 31, 2025.
The Company invested $50.0 million during the fourth quarter under its share repurchase program. As of December 31, 2025, the Company had $75.0 million remaining for repurchase under its share repurchase authorization.
Globant completed the fourth quarter of 2025 with 28,773 Globers, 26,906 of whom were technology, design and innovation professionals.
The geographic revenue breakdown for the fourth quarter of 2025 was as follows: 53.8% from North America (top country: US), 21.1% from Latin America (top country: Argentina), 19.3% from Europe (top country: Spain) and 5.8% from New Markets¹ (top country: Saudi Arabia).
Globant's top customer, top five customers and top ten customers for the fourth quarter of 2025 represented 8.5%, 20.5% and 29.4% of revenues, respectively.
During the twelve months ended December 31, 2025, Globant served a total of 944 customers (with revenues over $100,000 in the last twelve months), with 336 accounts generating more than $1 million of annual revenues, compared to 346 for the same period one year ago.
In terms of currencies, 64.0% of Globant's revenues for the fourth quarter of 2025 were denominated in US dollars.

2026 First Quarter and Full Year Outlook

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

First quarter 2026 Revenues are estimated to be in the range of $598 million to $604 million, representing a 2.1% to 1.2% year-over-year decline. This outlook includes a positive FX impact of 150 basis points.
First quarter 2026 Non-IFRS Adjusted Profit from Operations Margin is estimated to be in the range of 14.0% to 15.0%.
First quarter 2026 Non-IFRS Adjusted Diluted EPS is estimated to be in the range of 1.44 to 1.54 (assuming an average of 43.7 million diluted shares outstanding during the first quarter).
Fiscal year 2026 Revenues are estimated to be in the range of $2,460 million to $2,510 million, implying 0.2% to 2.2% year-over-year revenue growth. This expected growth includes a positive FX impact of 100 basis points.
Fiscal year 2026 Non-IFRS Adjusted Profit from Operations Margin is estimated to be in the range of 14.0% to 15.0%.
Fiscal year 2026 Non-IFRS Adjusted Diluted EPS is estimated to be in the range of $6.10 to $6.50 (assuming an average of 44.2 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/F4Q25EarningsCall
Webcast http://investors.globant.com/

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 28,700 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 consolidated statements of financial position as of December 31, 2025 and December 31, 2024 and its consolidated statements of comprehensive income for the three months and years ended December 31, 2025 and 2024, prepared in accordance with IFRS Accounting Standards as issued by the IASB.

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.

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

                                                                                          Twelve months ended                                    Three Months Ended


                                                                        December 31, 2025                     December 31, 2024  December 31, 2025                  December 31, 2024





 Revenues                                                                      2,454,877                              2,415,689             612,469                             642,483



 Cost of revenues                                                            (1,595,586)                           (1,552,322)          (398,808)                          (413,161)



 
          Gross profit                                                         859,291                                863,367             213,661                             229,322





 Selling, general and administrative expenses                                  (629,332)                             (632,995)          (156,427)                          (172,118)



 Net impairment losses on financial assets                                       (7,571)                               (6,970)                986                               2,024



 Business Optimization Costs                                                    (51,990)



 Other operating income and expenses,                                              1,334                                  2,016               1,334                               (722)



 
          Profit from operations                                               171,732                                225,418              59,554                              58,506





 Finance income                                                                    5,526                                  5,303               2,151                               1,427



 Finance expense                                                                (40,608)                              (32,202)           (10,003)                           (11,666)



 Other financial results, net                                                      3,247                                  6,064                 591                             (1,277)



 
          Financial results, net                                              (31,835)                              (20,835)            (7,261)                           (11,516)





 Share of results of investment in associates                                        110                                    222                  83                                  61



 Other income and expenses, net                                                    (862)                                 5,624               3,817                               (518)



 
          Profit before income tax                                             139,145                                210,429              56,193                              46,533





 Income tax                                                                     (35,189)                              (41,426)           (13,196)                            (7,025)



 
          Net income for the period                                            103,956                                169,003              42,997                              39,508





 Other comprehensive income, net of income tax effects



 Items that may be reclassified subsequently to profit and loss:



 - Exchange differences on translating foreign operations                         70,225                               (86,110)           (10,455)                           (65,652)



 - Net change in fair value on financial assets measured at FVOCI               (21,286)                                 1,959            (15,488)                                940



 - Gains and losses on cash flow hedges                                            9,116                               (14,142)              (523)                            (1,374)



 
          Total comprehensive income for the period                            162,011                                 70,710              16,531                            (26,578)





 
          Net income attributable to:



 Owners of the Company                                                           102,918                                165,732              41,564                              38,408



 Non-controlling interest                                                          1,038                                  3,271               1,433                               1,100



 
          Net income for the period                                            103,956                                169,003              42,997                              39,508





 
          Total comprehensive income for the period attributable to:



 Owners of the Company                                                           154,953                                 63,024              15,388                            (31,840)



 Non-controlling interest                                                          7,058                                  7,686               1,143                               5,262



 
          Total comprehensive income for the period                            162,011                                 70,710              16,531                            (26,578)



 Earnings per share



 Basic                                                                              2.33                                   3.82                0.94                                0.88



 Diluted                                                                            2.29                                   3.72                0.93                                0.85



 
          Weighted average of outstanding shares (in thousands)



 Basic                                                                            44,228                                 43,402              44,057                              43,859



 Diluted                                                                          45,005                                 44,589              44,833                              45,046

Globant S.A.
Consolidated Statements of Financial Position as of December 31, 2025 and December 31, 2024
(In thousands of U.S. dollars, unaudited)

                                                                          December 31,


                                                             2025       2024



   
            ASSETS



   
            
              Current assets

---


   Cash and cash equivalents                             243,742    142,093



   Investments                                             6,594     13,992



   Trade receivables                                     577,673    605,002



   Other assets                                           35,117     20,420



   Other receivables                                      84,405     53,939



   Other financial assets                                  6,226      3,100



   Total current assets                                  953,757    838,546





   
            
              Non-current assets

---


   Investments                                             2,489      2,212



   Other assets                                            4,424      4,750



   Other receivables                                      49,496     40,784



   Deferred tax assets                                    91,065     80,811



   Investment in associates                                1,727      1,648



   Other financial assets                                 29,930     41,403



   Property and equipment                                137,331    154,755



   Intangible assets                                     345,951    378,024



   Right-of-use asset                                    100,542    122,884



   Goodwill                                            1,601,523  1,483,443



   Total non-current assets                            2,364,478  2,310,714



   
            TOTAL ASSETS                           3,318,235  3,149,260





   
            LIABILITIES



   
            
              Current liabilities

---


   Trade payables                                        112,590    114,743



   Payroll and social security taxes payable             203,395    239,440



   Borrowings                                             19,666      1,601



   Other financial liabilities                           169,605     77,976



   Lease liabilities                                      28,511     29,736



   Tax liabilities                                        33,205     36,916



   Income tax payable                                     10,730      6,520



   Other liabilities                                       2,591        231



   Total current liabilities                             580,293    507,163





   
            
              Non-current liabilities

---


   Trade payables                                          3,684      2,006



   Borrowings                                            347,040    290,935



   Other financial liabilities                            90,499    168,163



   Lease liabilities                                      78,428     87,887



   Deferred tax liabilities                               30,906     29,776



   Income tax payable                                      1,428      6,625



   Payroll and social security taxes payable               2,358      5,187



   Contingent liabilities                                 21,963     18,169



   Total non-current liabilities                         576,306    608,748



   
            TOTAL LIABILITIES                      1,156,599  1,115,911





   
            Capital and reserves



   Issued capital                                         52,604     52,837



   Additional paid-in capital                          1,167,979  1,193,029



   Other reserves                                       (92,721) (144,756)



   Retained earnings                                     965,739    862,821



   Total equity attributable to owners of the Company  2,093,601  1,963,931



   Non-controlling interests                              68,035     69,418



   Total equity                                        2,161,636  2,033,349



   
            TOTAL EQUITY AND LIABILITIES           3,318,235  3,149,260

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

                                                                                  Three Months Ended


                                                                December 31, 2025                    December 31, 2024



 Net Income for the period                                                42,997                                39,508



 Non-cash adjustments, taxes and others                                   58,506                                56,881



 Changes in working capital                                               70,013                                40,934



 
            Cash flows from operating activities                       171,516                               137,323



 Capital expenditures                                                   (18,732)                             (36,167)



 
            Cash flows from investing activities                      (12,022)                            (236,732)



 
            Cash flows from financing activities                      (78,060)                               45,986



 
            Net increase/decrease in cash & cash equivalents            81,434                              (53,423)

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

                                                                                                        Twelve Months Ended                                      Three Months Ended


                                                                                      December 31, 2025                     December 31, 2024  December 31, 2025                    December 31, 2024





 
            Reconciliation of adjusted gross profit



 Gross profit                                                                                  859,291                                863,367             213,661                               229,322



 Depreciation and amortization expense                                                          44,719                                 36,034              11,263                                10,619



 Share-based compensation expense - Equity settled                                              27,279                                 23,937               5,115                                 5,927



 
            Adjusted gross profit                                                            931,289                                923,338             230,039                               245,868



 
            Adjusted gross profit margin                                                      37.9 %                                38.2 %             37.6 %                               38.3 %





 
            Reconciliation of selling, general and administrative expenses



 Selling, general and administrative expenses                                                (629,332)                             (632,995)          (156,427)                            (172,118)



 Depreciation and amortization expense                                                         116,422                                100,181              27,963                                25,430



 Share-based compensation expense - Equity settled                                              50,453                                 58,833              13,241                                16,111



 Acquisition-related charges (a)                                                                21,300                                 28,733               5,343                                11,503



 
            Adjusted selling, general and administrative expenses                          (441,157)                             (445,248)          (109,880)                            (119,074)



 
            Adjusted selling, general and administrative expenses as % of revenues          (18.0) %                              (18.4) %           (17.9) %                             (18.5) %





 
            Reconciliation of adjusted profit from operations



 Profit from operations                                                                        171,732                                225,418              59,554                                58,506



 Share-based compensation expense - Equity settled                                              77,732                                 82,770              18,356                                22,038



 Acquisition-related charges (a)                                                                71,818                                 63,231              17,115                                20,563



 Business optimization costs (b)                                                                51,990



 
            Adjusted profit from operations                                                  373,272                                371,419              95,025                               101,107



 
            Adjusted profit from operations margin                                            15.2 %                                15.4 %             15.5 %                               15.7 %





 
            Reconciliation of net income for the period



 Net income for the period                                                                     102,918                                165,732              41,564                                38,408



 Share-based compensation expense - Equity settled                                              76,529                                 82,618              17,656                                22,000



 Acquisition-related charges (a)                                                                97,334                                 71,895              18,598                                30,561



 Business optimization costs (b)                                                                50,876



 Tax effect of non-IFRS adjustments                                                           (51,426)                              (34,819)            (8,874)                             (12,303)



 
            Adjusted net income                                                              276,231                                285,426              68,944                                78,666



 
            Adjusted net income margin                                                        11.3 %                                11.8 %             11.3 %                               12.2 %





 
            Calculation of adjusted diluted EPS



 Adjusted net income                                                                           276,231                                285,426              68,944                                78,666



 Diluted shares                                                                                 45,005                                 44,589              44,833                                45,046



 
            Adjusted diluted EPS                                                                6.14                                   6.40                1.54                                  1.75

(a) 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.

(b) One-time charges for the three and twelve months ended December 31, 2025 related to the Company's Business Optimization Program initiated in April 2025. 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                                 Q4 2024 Q1 2025  Q2 2025   Q3 2025    Q4 2025





          Total Employees                                       31,280   31,102    30,084     29,020      28,773



          IT Professionals                                      29,198   29,022    28,097     27,123      26,906




North America Revenues %                                         55.2     55.5      54.1       53.8        53.8


Latin America Revenues %                                         20.4     19.6      19.7       19.9        21.1


Europe Revenues %                                                17.7     18.2      19.6       19.4        19.3


New Markets Revenues %                                            6.7      6.7       6.6        6.9         5.8




USD Revenues %                                                   64.8     67.2      64.1       63.2        64.0


Other Currencies Revenues %                                      35.2     32.8      35.9       36.8        36.0




Top Customer %                                                    9.1      8.8       8.6        8.7         8.5


Top 5 Customers %                                                19.8     20.0      20.3       20.7        20.5


Top 10 Customers %                                               29.3     29.1      29.3       29.5        29.4





          Customers Served (Last Twelve Months)*                 1,012    1,004       981        978         944



          Customers with >$1M in Revenues (Last Twelve Months)     346      341       339        339         336

(*) 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

¹ Represents Asia, Oceania and the Middle East.

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