Billion Dollar Unicorns: Two Years Post The IPO, Globant Continues To Soar

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Photo Credit: Sebastian Bassi/ 

According to IDC, the proportion of digital related consulting engagements are expected to grow from nearly 50% for the period 2013-2015 to 80% by the year 2019, driving the total market for Digital Strategy services to more than $97 billion globally by 2019. Billion Dollar Unicorn player Globant (NYSE:GLOB), the first Latin American Software Services company to list on the NYSE exchange, is making its presence felt in the industry.

Globant’s Financials

Globant was founded in 2003 by four friends Martin Migoya, Martín Umaran, Guibert Englebienne, and Néstor Nocetti. The idea for Globant was formed when the four friends met at an Irish pub after they had lost their jobs in the 2001 crash. Globant started as a shop to design software products and today is among the leading providers of innovative digital solutions to organizations. It provides its customers with access to emerging technologies such as mobility, cloud computing, SaaS, digital gaming, social media, Internet of Things, and Big Data. Besides building software products, Globant helps its customers build intellectual property.

Globant was venture funded till 2014 when it finally went public. It recently announced impressive second quarter results. Revenues of $79.9 million grew 32% over the year and were higher than the market’s expectations of $76.81 million. EPS of $0.29 was also ahead of the Street’s forecast of $0.28 for the quarter.

For the current quarter, Globant expects revenues of $80 million-$82 million compared with the Street’s estimate of $79.77 million. EPS of $0.27-$0.31 was short of the market’s projected earnings of $0.32 per share. Globant expects to end the current year with revenues of $318 million-$322 million, surpassing market projections of $313.54 million. EPS of $1.14-$1.20 was in-line with the Street’s view of $1.16.

Globant’s Growth Plan

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