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$GLOB: Driven by Margin, Not Volume; Q3 Guidance Flat

By Mateo Ruiz

CloudC4 Exclusive · Earnings · Updated Aug 14, 5:29 AM ET

Globant reports Q2 EPS of $1.40 vs $1.16 est; revenue growth slows to 11% YoY.

The tape after a services-margin beat — Globant is software, not a wafer.
The tape after a services-margin beat — Globant is software, not a wafer.
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Key Points

  • Q2 EPS $1.40 vs $1.16 est (21% beat) driven by margin expansion, not revenue.
  • Q2 Revenue $675M, +11% YoY, decelerating from prior 15-18% growth rates.
  • Q3 Revenue guidance $690M-$700M matches consensus; no upside surprise.
  • AI/ML project wins slowed to 5% QoQ growth, down from 12% in Q1.
  • Adjusted EBITDA margin expanded to 22.5%, up 150 bps YoY.

What To Watch

  • Q3 revenue actual vs $690M-$700M guidance.
  • New logo acquisition rate in AI/ML segment for Q3.
  • Backlog duration commentary (target >3x quarterly revenue).
  • Any revision to full-year 2026 revenue growth estimates.