Q4 2022 Globant SA Earnings Call

By now you should have received a copy of our earnings release, if you have not a copy is available on our website investors <unk>.

Hum.

Our speakers today are Martin Mcglynn, co founder and Chief Executive Officer.

<unk> Chief Financial Officer at least <unk>, Chief operating officer, and Dave <unk> Global Chief Technology Officer before we begin I would like to remind you that some of our comments on our call today may be deemed forward looking statements. This includes our business and financial outlook and the answers to some of your questions such statements are.

To the risks and uncertainties as described in the Companys earnings release and other filings with the SEC. Please note that we follow <unk> accounting rules in our financial statements. During our call today, We will report non <unk> or adjusted measures, which is how we track performance internally and the easiest way to compare <unk> to our peers in the industry.

You will find a reconciliation of <unk> and non <unk> measures at the end of the press release, we published on our Investor Relations website announcing this quarter's results I would now like to turn the call over to Martin <unk> our CEO .

Thank you Don and good afternoon, everyone.

I'm happy to be with you again to share our Q4 2022 and full year results. This was global strongest year ever in sales geographic presence.

<unk> worldwide in 'twenty, three we see the AI revolution accelerating in shaping organizations.

They add up to new landscape.

With the recent expansion of foundation models and generative AI. It has become clear that would be have a massive new opportunity for us and for our clients.

Although AI is finally going mainstream this is new for global.

We have been investing in developing our AI capabilities and expertise for more than six years now.

I will share more with you later.

In the meantime, I invite you to see how AI can impact our daily lives.

By listening to part of my speech read by a text to speech AI engine that emulate my voice.

There will be a notice at the bottom of the screen. When this happens in any case.

After these remarks.

In Q4, our revenue was $497 million.

Representing $29 two year over year growth.

For the full year of 2022 total revenue was $1 8 billion, our best year ever.

These represent 37, 3% year over year growth one of the highest annual growth in our history as a public company.

Throughout the year, we continued to deliver quarterly growth rate above industry benchmarks.

In 2022, we made a big move in our global expansion by setting up a new business region in Asia Pacific. We now have presence in Australia, Hong Kong, Singapore, and the Philippines.

We believe there is a huge potential in this region. So we expect to continue expanding our business throughout the year.

A month ago, we announced our arrival in Denmark with acquisition of Burdick.

They are a creative consultancy in the life science healthcare and many others beat to be disciplined.

Arctic brings an impressive array of new customers, such as Eli Lilly and GE healthcare.

We're excited to have them onboard to consolidate our global digital marketing network.

With vertical we will continue developing our local expansion by entering into northern Europe .

We also expanded in areas, where we already operate by opening new offices in Canada and Italy.

<unk> is now in over 25 countries across five different continents, we have become a truly global organization that can offer reinvention at scale with diverse talent worldwide.

2022 was a big year for our global brand recognition, two we announced our partnership with FIFA to develop their FIFA plus streaming platform and we sponsored the Qatar 2022, FIFA World Cup.

The global brand was on the field and on the screens for every much.

In all over the World, we estimate that up to 300 million people were reached by our brand during the course of our sponsorship and FIFA estimates that more than <unk> 5 billion people engage with the World Cup across different platforms and devices. We've made the most of this partnership by.

Hosting the global Tech summit in Doha during the comp we had a great talk with clients partners and an expanding community. This happened at an important time for us as we are growing our business in Asia Pacific. This year, we will be global sponsors of the women's World Cup in Australia and <unk>.

Sealant.

This will give us another opportunity to focus on a region that is moving towards a knowledge economy.

Also I am thrilled to see our brand keeps growing and.

<unk> was once again recognized in brand Finance Global report of the top service brands.

This time, we became the eighth strongest brand worldwide your intensity too low and was also named company of the year in global digital transformation services by Frost <unk> Sullivan.

The fastest growing it services company by Gartner Marketshare, and a major industry four <unk> player by Everest group.

Moving on to studios I'm thrilled to say that we have created the sports reinvention studio.

It will be the hub for our solutions for the top sports organizations, helping them reinvent fan experience boost loyalty increased revenue streams and develop smart venues.

We're already working with top players in the sports and entertainment sector like La Liga and the La Clippers and now we are consolidating these efforts to take full advantage of future opportunities in the AI space tools like GBT from open AI embarked from Google have made the large language.

The technology available to everyone for the first time.

This improves the generation of text music and video for the benefit of millions of end users and open up huge opportunities for organizations. It also creates more chances to further incorporate AI into the business as well as generating new value through AI ops, we're very optimistic.

Mystic for long term growth because the demand for AI is growing fast.

Spending is expected to reach 300 billion by 2026.

It is quickly becoming an essential part of software every digital product will have an AI layer.

We believe that large language models can simplify software development creation moving our industry forward.

I am proud to share that we have made a major update to our low code platform Genex's.

Through the combination of deterministic symbolic AI with.

With large language module technology <unk> can now create unprecedented enterprise software solutions in record time.

Let me explain how this works the software creation process involves many different profiles of professionals each using their own programming languages and unique interactions from designers to developers testers <unk>.

<unk> steps into the process with its AI assistant by providing a common layer to bridge the understanding GAAP. It now allows the use of natural language as common input for each of the profiles.

In a nutshell with Genex's. If you can talk you can start creating your digital product. The beta version of <unk> next will be ready in the next weeks you can registered to join the wait list through the QR on the screen. This AI assistant is a big step forward in using AI for business solutions AI has been a key part.

Global value offering for many years supported by our AI studio, our AI manifesto and companywide AI training. In addition to <unk>, we are revolutionizing the industry with al Gore, which applies AI to make the coding process faster more creative and effective and with magnify that speeds up testing so.

Companies can launch products faster, we want to be the go to partner for organizations that want to fully unleash the power of AI the solutions and tools, we provide can simplify decision, making and create more personalized experience and enabled creativity.

We're making these moves because we know AI well and we are ready to take advantage of this opportunity.

We understand that macroeconomic conditions are uncertain.

And geopolitical events and supply chain issues have affected some decision making processes from our clients, especially by the end of 2022, we experienced some loan closing cycles. During the end of last year and early 2023, but we are seeing now initial signs of a positive change on those.

So we expect a healthy year over year performance given the current market our CFO , one PRA will share more later on.

We have a strong confidence in <unk> fundamentals.

Our studios, we are adaptable to providing the clients what it needs in different landscapes.

<unk> offers a mix of services and products to help clients seek visa reinvention and efficiencies.

We worked with organizations to improve their operations using platforms like Salesforce SAP and Oracle.

We enhanced customer experiences and go to market strategy to improve business outcomes, and we deliver revolutionary solutions through the latest technologies like AI blockchain mirrors or more.

According to IDC digital transformation spending will reach three four trillion in 2026.

The United States account for nearly 35% of the worldwide total and will surpass the one trillion mark in 2025.

We are eager to grow our market share as this space continues to expand.

<unk> is.

Is celebrating its 20 <unk> anniversary this year, we have come a long way from four founders.

A bar to a global team of 27000 people.

I have never been prouder than I am now we are a team of inter burners.

Our growers continue to work on Unparallel innovation for some of the most beloved brands in the world, helping them Hawk the challenges of their businesses.

In this first 20 years.

Robust has become a growth vehicle and a center for knowledge.

Deep expertise.

Non stop growth mindset, reflecting on the past three years, including the unparalleled impact of the pandemic. It's remarkable to see that globally has grown our top line by almost three times and has welcomed a similarly increase in our employee base.

Throughout this period, we have maintained our commitment to delivering exceptional profitability and returns to our shareholders.

The dedication of our teams and our ever evolving offering we are ready to face the challenges and continue our growth in 2023 and beyond.

And with that.

I'll turn it over to Diego <unk>, our CTO. Thank you. Thank you very much.

Thanks, Martin and Hello, everyone. It's good to Vivek.

Eager to share with you some important updates regarding our studios interesting new projects with clients the clients and our plans to leverage AI another relevant trends.

Beginning with a focus on AI introduce more and more team.

Upland Air has been a main part of our services to clients as well as our own internal processes for almost a decade.

That's why we see the recent accelerated adoption of AI tools by the general public as an opportunity.

To respond we are driving home, our offering of AI applications to our community.

The global proposal is focused on three main areas in this space.

First driving better outcomes, we are using AI to unlock the power of information in our leases and big data. So that our clients can make informed and agile business decisions ahead of their competition.

Second elevating the customer experience by personalizing smart interactions through AI.

Goldman has experienced and boosting customer loyalty and satisfaction in this space.

Finally, accelerating performance, we harness the power of AI to automate processes increased efficiency.

<unk> complex creative work through generative AI that frees up valuable time and resources for teams.

Our <unk> products, <unk>, <unk> and magnify our key accelerators for this as a people based organization, we're going to double down on our AIA expertise by providing an additional companywide training to ensure that every lower becomes EMEA adviser upon completing the training.

Each one of our general parts will have an AI expert who will consistently ensure that our solutions include the latest AI technology.

In the aerospace <unk> has proven to be a great partner to invigorate our offering.

Upon the acquisition, we were able to quickly integrate our companies to create better low code and no code solutions last month, we launched <unk>, a new version of the local platform that increases productivity and simplifies the development of apps and systems.

It allows organizations of any size and industry to explore new business models and provide new experience to their customers through elevated software architecture. Generics was 18 also brings local software solutions to the development of Super apps, a key growth area for the industry and a neutral.

<unk> goal for many top brands combined with our new features which Martina build earlier, we are increasingly optimistic and ambitious about the runway of this product now let's go through how global continues to share its knowledge and expertise not only via the solutions, we create for our clients.

But with the broader tech community and our new Tech trends reports released this week, we focus on four impactful trends that will empower organizations, who successfully navigate and excel. In this is we are active area.

Artificial intelligence, the metaverse blockchain and foundational technology, recognizing the significant potential of our recently launched sports. We mentioned studio. This quarter. We also released a standalone tech trends report focusing on opportunities in this space a new liquid fund is disruptive.

In the sports work the funnel experience now goes far beyond alive, much I'll say now interact with their favorite clubs and events through multiple touch points in mobile apps and social media.

This creates the need for smart technologies and to ensure a seamless positive <unk> experience.

It creates both a challenge and an opportunity for new revenue streams moving.

<unk> 2023 tech trends and the sports free mentioned trend reports can be found at reports, Doug Liman Dot com.

Now I'd like to share with you how we're working to change the game for our clients.

Global is partnering with <unk>, the leading telecommunications company in Oman.

You offer an activity based incentive wellness program for their customers call surety. This program leverages be healthy a global index product that offers a recognition and reward program using the Apple watch be healthy helps each users live healthier lives and have control over the data with a strong.

Privacy protection built into every upward product we are working closely with Breo, the Latin American division of Directv with more than 10 million subscribers and is the leading digital entertainment service in the region having.

Having the right to stream FIFA World Cup Rio wanted to create an immersive experience in a virtual funnel first in the murderers.

In record time global built our proposal and they signed the full even experience social media Influencers clients impress we're invited to participate using VR headsets, while watching our live FIFA World Cup game transmitted by Brio.

Were able to showcase the power of the metals for FIFA World Cup live streaming, while creating engaging and interactive experiences that can be monetized in the meta versus economy.

Additionally, we created an omnichannel experience that included the luscious Chatbot in Latin America, reaching 30 million messages during the World Cup. We also develop a mobile app with 630000 active users and an improved water service. This experience with a solid first milestone for the sportswear measure.

The studio in North America, we are working with Roche one of the global leading biotech companies.

Our company works with partners, who bring AI platforms and algorithms focused on oncology and <unk> analysis.

Until now the morning of this new partners has been done manually, which is time consuming costly and not scalable we're partnering with rush to build a self service on more than platform to streamline development and integration that will help reduce cost increase efficiency and allow the platform to Cui.

Can scale to hundreds of algorithms in Europe , we're working with portal and to reward our leading destination resort in the southern region with more than five 3 million visitors in 2022.

Have become the digital partner to design and implement a new client application to gain a competitive advantage through efficient customer experience neuro.

We are leveraging our expertise in the area that includes work for close lines sports teams resorts in the same box also in Europe , we're working with pack. Additionally, native logistics company that specializes in the same day delivery. It's platform provides real time trucking route optimizations and ultimate and deliver.

And notifications.

Also maintain a fleet of professional drivers and couriers to ensure that their customers receive the highest quality of service global this assist impact in the evolution of their current platform by building New cost 10 billion management systems pick up drop off points software development kits in multiple languages for faster.

Retail integration among others.

Also advising them and looking ahead in areas that include Iot and <unk> help impact stay ahead of the competition and provide their customers with the best delivery experience as always we look forward to enhancing our relationships with our clients by bringing the latest technologies into their businesses.

With that I'll turn it over to Patricia <unk> our CFO .

Thank you Diego and Hello, everyone and happy to be with you again to discuss the transformation work, we're doing for our clients and their evolving value proposition, we offer to global talent, let's kickoff with our clients.

Our largest account the Walt Disney Company grew by 26, 6% year over year, and eight 5% quarter over quarter. The rest of our accounts collectively grew by 29, 5% year over year and 6.8% quarter over quarter one.

One have that squared strategy continued to show results.

And now have 13 accounts, bringing in more than $20 million in revenue. In addition, we have 259 clients that provide more than $1 million of annual revenue compared to 185, one year ago.

That then geographical distribution of our revenue in Q4 61, 7% of our revenue came from North America 22, 7% from Latin America, 11, 9% from EMEA and three 7% from Asia and Oceania.

All regions saw revenue growth, we have seen more geographic diversification of our revenue sources for Q4 revenue in EMEA and APAC regions grew 43, 8% and 110.5, respectively year over year, we have a stronger emphasis on growing in markets that are relative.

To globe, such as Asia Pacific, our strong organic growth coupled with our strategic execution on M&A were key to driving this positive results North America. The source of 62% of our revenue grew by 24, 8% year over year and 2% quarter.

Per quarter, we continued to focus on the net promoter score to ensure that our clients are satisfied with our services and promoting us within their networks as of Q4. The net promoter score reached 79 up from 76 Q4 of last year. This remains.

High above the technology industry benchmark range that goes in between 40 and 61 through this exercise we estimate that 81% of our clients are recommending after their community now regarding our people. We are now a proud team of over 27000 globally worldwide because he.

In the current business environment, we have moderated our pace of hiring and we're taking advantage of the trends in attrition. Our annual attrition is currently at 16, 7%.

Lois into years, and 180 basis points below Q3's annual figure.

Creditors to gloves on global centric value proposition of giving both carrier growth and flexibility to nurture a positive culture that develops talent is critical to listen continuously to arc, Laura we have deep and regular evaluations of our working mode to assess our global engagement. So that we can adapt accordingly.

We closed the year in Q4, asking bloggers, how they felt in everything from rewards and methods to a career path in mental health among other areas within this assessment, we had a specific focus on our net promoter score to let our mining and power employees would recommend <unk> to France.

Contact and former colleagues.

It resulted in employee net promoter score of 64 far above the industry benchmark of 30 to 40. Additionally over 85% of respondents and that they feel they are treated equally and fairly this is regardless of gender age raise visibility or sexual orientation, 85% of <unk>.

Indicate that they feel they're leaders strongly care about their wellbeing. We celebrate this result of showing how our corporate values have been adapted throughout the organization. Our strategy is to provide diverse personal and career growth opportunities at the Cleveland as you remember last year, we launched our open carrier.

Platform, where it lowers campaign, a new career opportunities within the company with exposure to new skill set salaries and a job title. So far 10000 globally have made use of this portal and over 2000 have already found new opportunities at low land in new industries or geographies.

Upskilling and Reskilling platform at Columbia University also continues to grow.

Haven't empowered with AI to even more valuable and a personal experience our employees get Taylor and recommended up Skilling of course is based on their profile and their interests.

We are also using this technology the strength social and collaborative learning throughout the whole organization by connecting expects clubbers with peers, who are looking for the expertise. We are now offering more than 3600 different learning experiences.

I would like to highlight a particular course from the platform of the Green. It is training. It is targeted at professionals with the goal of mitigating the carbon footprint of the industry. We recognize that our sector has a great potential in the fight against climate change so far more than 5000 Globus.

<unk> has been trained and we look forward to incorporate in the principles into our product offering to our clients as well as flexibility continues to be at the core of our offering our work from anywhere policy allows clover to work from an end destination up to 90 days per year. This has enabled over 1700 global too.

We moved in more than 65 destinations worldwide.

Of course, we still believe that office is a great word of foster culture. So we are very excited to be opening the workspace of the future.

In the past year <unk> has opened brand new offices in London, Mexico, Cts and Diego <unk> and as last year.

One was particularly designed with our Clovers in mind that an emphasis on core creation sustainability and teamwork and finally, some important updates on global decline concept aimed at making our global community and more sustainable even equitable access it plays through the commitments are lowered.

And that our cardio future program with publicly commitment to grant 15000 technology training and scholarship at 2025.

In Q4, we offer 1000, new scholarship for an eight month training to people in at the America. We received over 30000 applications, 50% of these scholarships will be allocated to women and nonbinary people.

Also continue our work in <unk>. Its purpose is to focus our pro bono initiatives to help our community in Atlanta with our Big pillars. We are committed to this project because we are firm believers that technology is an enabler to create new solutions for the more significant problems of humanity fostering innovation.

And delivering increasing opportunities are big context timed continues to support the start that's a amount of mitigating the adverse effect of technology Spanish venture capital firm in London days Intrapreneur organization <unk> E have joined the funds partner ecosystem, we announced our 1 million investment.

In <unk>, the first platform to introduce web III technology to the world of ideas and opinions.

<unk> mission is to upgrade how people support and impose opinion leaders disrupting the echo chambers cultivated by traditional social media platforms. We look forward to seeing the development of this time its partner and its mission.

And with that I will hand, it over to our CFO . Thank you.

Thank you and good afternoon, everyone, it's great to be here again.

We're extremely proud of the solid results we delivered today.

We ended 2022 on a high note with a 37, 3% year over year growth. The second highest annual growth rate in revenues since becoming a publicly listed company.

While delivery another strong year of profitability and cash generation Testament of that was the consistent above industry growth posted throughout the year with average quarter over quarter growth rates above six 6% throughout 2022 as a digital transformation services company, we understand that the.

Current macroeconomic environment may be causing some of our clients to moderate their demand for our services and delaying the closing of new deals. We strongly believe that the mid and long term demand for digital transformation remains intact.

Our pipeline remains very solid and it is the highest in our company's history. We have seen no change in the discussion regarding the long term strategy of our clients technology continues to be at the front and center.

Additionally, talent remains scars and companies continued to face challenges to find technology ranks. According to leading survey data from leading financial institutions and industry research firms digital transformation investments are expected to be our top priority. After a strong finish in 2023.

We will keep optimizing our talent pool utilization and cost structure and adapt our service offering to meet the changing demands of our clients. Let's now review our solid Q4 and 2022 results. We are very proud of the positive topline growth we were able to deliver.

Turning to revenues ended at $1.780 billion up 37, 3% year over year. This strong growth was mainly driven by approximately 32% organic growth. Despite having a two percentage point FX headwind our revenues for Q4.

Also very strong at $497 million, representing a 29, 2% year over year growth.

On a sequential basis, our revenues for the fourth quarter of this year increased six 9% Q4 revenue growth was 39% year over year in constant currency, one seven percentage points above our headline figure.

We estimate inorganic contribution to year over year growth at approximately six percentage points in the fourth quarter.

When we look at our revenue breakdown, we see several factors at play let me bring them to life first with our top account. We ended a very strong 2022 in Q4, we are seeing very strong growth in our media vertical on the work of strong deals closed in the second half of 2022, including <unk>.

Take partnership among others.

Also a noticeable recovery in our travel and hospitality and healthcare division, but partially offset by lower professional services high Tech MBA for side of articles.

We do expect a more stable performance in Q1, and our professional services and our <unk> articles and incremental growth in the short term.

We continue to deliver on profitability.

Adjusted gross profit margin for the year stood at 39, 2% among the highest in the industry.

Our adjusted gross profit for 2022 increased to $697 $6 million, representing a 46, 1% annual increase.

<unk> operating margin for the year stood at 16, 3% relatively unchanged on an annual basis. We are actively working on our SG&A to meet our EBIT targets as a fourth Q2 thousand 22 SG&A over sales stood.

18%, which compares to 18, 7% as of last year.

Adjusted operating income for the quarter amounted to $79 million or 16, 1% of revenues flat quarter over quarter regarding below the line items, our <unk> effective tax rate for the quarter was 21, 8% largely in line with our guidance adjusted net income for the full year 2022 totaled two <unk>.

And $17 $7 million, representing 12, 2% adjusted net income margin flat year over year adjusted net income for the fourth quarter was $60 $1 million, representing 12, 3% adjusted net income margin.

Adjusted diluted EPS for this quarter was $1 40.

38% year over year based on $43 1 million average diluted shares for the quarter, our full year 2022, adjusted EPS of $5 and 8-K.

Came in <unk> <unk> above our guidance of $5 <unk> per share.

Adjusted EPS for full year implies a strong 35, 1% year over year growth, we continued to execute on our financial strategy focusing on balance sheet management and capital allocation, we believe that our financial position is well suited to support our growth in 2023 to pursue attract.

Opportunities, both organically and Inorganically.

As of December 31, 2022, our cash and cash equivalents and short term investments totaled $349 million, our credit facility of $650 million remains undrawn we.

We maintained a net cash position, which in conjunction with our organic cash flow generation should provide ample funding for our growth plans in the short term in the fourth quarter of 2022, we achieved strong free cash flow generation with free cash flow north of $80 million now lets talk about our business going forward.

I would like to share with you our initial outlook for the first quarter and for the full year 2023.

We remain focused on achieving a solid revenue growth and strong profitability sharing into 'twenty. Two 'twenty three we will focus on expanding our business while aiming at stable margins. We will also focus on managing closely our cost structure in order to scale. It in line with the business performance.

Let me start with our Q1 expectations. We currently expect Q1 revenues of at least $470 million or 17, 1% year over year growth over the last part of Q4 2022, and the beginning of Q1 2023, we experienced elongated closing cycles from delayed ramp up of closed deals.

These market conditions combined with customer specific situations in some of our top accounts such as organizations on restructuring lead us to expect a sequential decrease in Q1 2023 revenues relative to Q4 of 2022.

So a healthy year over year performance given the current market, we expect to go back to positive quarter over quarter growth already in Q2, reaching a total topline similar or slightly above Q4 2022. This is the result of the recovery in some of our top accounts and the closing of a number of large.

Size deals in line with Q1 revenues and also due to the cost impacts, resulting from FX appreciation in emerging markets. We implemented measures to contain our expenses in the short time, which will partially offset the effect on our margins. We expect our adjusted operating income margin in the 15% to 60.

10% range for the first quarter of 2023.

Effective income tax rate is expected to be in the 22% to 24% range.

Our adjusted EPS for Q1 is expected to be at least $1 in 2007.

Assuming $43 2 million average diluted shares outstanding for the quarter now, let's move towards the full year guidance. We continue to be very positive about the growth opportunity for our global and our industry regarding our full year 2023 outlook. We are building in some conservatism considering the sinus.

Or do we see from a more moderated start of the year.

Outlook does not consider neither a significant recession, nor a strong recovery over the course of the year based on current visibility we are providing our full year 2023 guidance of $2 billion and $65 million or 16% year over year growth. These guidance figures considers a neutral FX outlook.

For the full year, we expect our adjusted operating margin in the 15% to 17% range 2023, <unk> effective income tax rate is expected to be in the 22% to 24% range. Finally, our adjusted diluted EPS for 2023 is expected to be $5 70.

Assuming $43 4 million average diluted shares for the year.

Thanks, everyone for participating in the call for your coverage and support.

Okay.

Thank you hi, everyone. It's good to see you.

So as we go through the question and answer session of this call I will call your name and at this point. Please UN mute your line and ask your questions. Please mute your line up for your question is done and we would also ask you to limit yourself to one question and one follow up.

So with that in mind. Our first question comes from the line of <unk> <unk> from JP Morgan Sensing. Please go ahead. Your line is open.

Yeah.

Hey, Thanks I.

I appreciate the time as always.

So yeah, a lot of good detail about the outlook and everything here. So I figured I'd ask on the top account as they looked like a pretty strong fourth quarter.

Restructuring.

Some things changing that might create a slow start to the year. So can you just comment on visibility.

Okay, and maybe the top 10 in general and what you've assumed there for the first quarter as well as for the full year.

The more detail.

Thanks.

Sure.

I will take the first portion of the question. Thank you Tien tsin for the question.

I think the first portion and then I will let quanta to complement.

I think that the relationship with Disney is extremely healthy.

2022.

Very healthy growth of about 35% rate.

Or earlier so we.

We have had like a growth with this account for many many years.

I think that the.

<unk>.

All of the announcements, it's still very soon to understand what's going on in the in the in our Av.

Of this announcement.

We expect to have some hit during Q1.

But then coming back again.

During the rest of the year. So this is kind of what we know right now.

Understand that the account is still very healthy.

We believe that.

This relationship we have with Disney is very profound and.

We can help them to make many of the of the savings. They are they have in mind and.

I think that's pretty much the picture, but I don't know if one if you want to complement.

Hi, Tien tsin, so no no listen to that what we are seeing.

Strong travel and services sector.

Strong.

Our our recovery in a very strong healthcare sector. When we're looking into the Q1 number as Martin said it implies.

A decrease in the case of our top account driven by all the changes that were discussed.

Also there is some impact coming from tech companies as we all know they have been delaying projects.

Even the early enough.

Number of people and then there is a little bit on the.

Bank loan and the size of the market, but we have already seen.

A good recovery shaving into Q2.

Close deals up.

Will translate into I would recovery into Q2 numbers.

And I think it's going to be driven again by <unk> hospitality by healthcare.

Our recovery on their side a recovery on professional services, we will still have some hits coming from technology.

Alright, Great and then just as my quick follow up just to build on what you just said I think.

Get back to sequential growth in the second quarter.

It sounds like you're seeing some positive changes recently you mentioned a very strong pipeline I think you also mentioned some.

Potential closing some larger deals as well so can you tell us a little bit more in mid February now so it sounds like youre seeing real activity in and change to the positive side.

At this point.

Yes. It is.

It's difficult to answer that question, we are seeing something that's of recovery. Thus.

That's for sure.

We are seeing some.

Early very early I would say.

Large contracts that are coming into the.

Into the.

Pipeline.

Also some large contracts that were closing.

So for the first time, we are seeing like a recovery in many of the.

Note that we have had during the last I would say nine months.

So we're seeing some kind of churning turning point.

Look this is a very early signal that doesn't mean that it will represent what's going to happen during the rest of the year.

But we got like.

Kind of.

Very happy when we start seeing that recovery happening right.

Because of our growth continues to build and that kind of gives us comfort on the on the second quarter numbers and then of course for the rest of the year.

The assumption that we have is that things will continue in the same way that we are seeing now we're not assuming a big recovery of the economy, we are not assuming.

A meaningful crisis, just a continuation of the.

The change in the trend that we have seen over the last three or four weeks in terms of bookings in terms of closing of the enzyme.

This is coming into the base.

Very good thank you.

Very welcome.

Thank you Tien tsin.

Thank you Tien tsin. So the next question comes from the line of Ashwin <unk> from Citi. Ashwin. Please go ahead. Your line is open.

Thank you.

And.

Appreciate the opportunity.

Tim you started obviously speaking about AI, So let me.

First question David.

And you catch this as an opportunity, which I can see in many different ways for content creation and.

And other factors as well, but as a company you do have over 80% time and materials and.

And very people dependent so.

Do you think of that in the in the long run.

Obviously at the end of the day.

AI doesn't kind of go implement itself in bookings.

They are generating AI, but.

But how do you think of that and are there other opt.

Opportunities along the way as I look at say for example.

Corporate.

Enterprise level data sets.

Many of them are not.

At the start when they ought to be so maybe that's also an opportunity can you talk about that team.

Yeah, absolutely look I couldn't be talking about this for the next 24 hours. So I will try to be very.

Very very short.

Jason.

This change on the AI tools is not something that we have seen I mean, we are we have been experimenting with tours, which are pretty similar to what's going on right now with <unk>, which is the most relevant thing that happened in the last month and a half for some time now and.

We have always seen these kind of.

A change on the tools.

Or an evolution on the tools that we're using to develop software to create experiences to create content.

Should happen.

And it happened.

And now we are seeing that of course few months, we will keep on being extreme.

Extremely needed like before and now they will have tools to be more efficient, but at the same time, a new set of new applications based on AI.

Basically what happened with Ted CBD was like a massive campaign market marketing campaign.

Like a new way of creating applications like a new way of understanding how to interact with consumers.

Interfaces in general.

And that would yield like a massive set of new applications based on AI based on.

Large language models that can learn about your company that can learn about your transactions that can start answering questions on those transactions answering questions that before were extremely difficult to get and all those trends only accelerates the need of what we do and only accelerate.

They need of creating new studios like creating I would say AI specific models to answer in a certified way because right now the model to answering like in a generic way answer in a certified way specific knowledge and certain domain areas of expertise.

And.

I believe.

There is a change in the tools.

Before we were making breaches with the.

Looking like alcohol I don't know how to say that in English ourselves.

Calculus cargos and now we are using calculators and we are using computers to accelerate that design well. The same thing happened now we had some tools to develop software with award with <unk> with all the things connected with magnify.

We accelerated the way of developing software game at GBT and copilot came into the game, we accelerated again and I believe that those things will keep on trending up.

But the people using those tools are still in charge of making things happen.

And I believe that this trend will keep on going and keep on growing and the need of new applications. They don't know paradigms that we just learn more.

<unk>, we have been playing with this a long time ago, but the public in general has to learn new things and new ways to interact with computers and consumers requesting that from the companies that we that we serve so I see like a massive trend.

Going up on that on that side too I hope that answered your question, but is it a question of $1 million basically.

Absolutely absolutely.

I guess the next question is.

If you can talk about.

M&A impact and FX impact for <unk> and in full year, what should we put in what should we assume sure.

Yes.

So on the first quarter.

We've added 17, 1% growth.

Around five percentage points are coming from.

The recent acquisitions that would either dilution or what is your intent coming through.

For the full year out of the 16% that we guided.

About four percentage points come from the deals that were closed in 2022.

And for the time being we are assuming a neutral FX scenario. So we are not assuming any gain or loss coming from FX.

Understood.

Youre welcome.

Thank you Ashwin. The next question comes from the line of Bryan Bergin from Cowen.

Brian . Please go ahead your line is open.

Okay.

Hi, everybody good to see.

First question I have is are there certain types of projects and programs that you have seen delayed and reassess or was it broadly slower across the portfolio client decision, making and if it was certain types of engagements that were commonly pushed can you just talk about how thats affected your workforce.

For 2023.

Yes.

I would say the slowdown in decisions happen pretty much across many different industries.

Course, accentuated on on Hy Tech I would say.

And.

And then.

The projects.

I think you asked about the type of projects are.

Spread and the type of projects look.

They come in very different flavors.

As we always said the projects that we know are always connected to connecting with consumers accelerating that process now.

Now we are hearing too into the digital marketing side, we're heading into the back office.

I would say of the ERP flush.

CRM implementation, which is the backend of the company.

Those projects will keep on growing the three types.

Digital marketing.

I would say digital transformation connecting with consumers.

And of course, the backend projects the three of them as being continuing what I would say, it's like the slowdown does not connect with this type of project and connect more with the general uncertainty that we are living in the market rather than the type of projects. So there's no correlation there that I see.

Specifically to your question.

Okay.

And then just shifting over to margins. So can you just mark can you talk about the biggest factors in that 15% to 17% range as youre thinking about utilization as you go through 'twenty three.

On the pricing and just curious how you get to the.

The lower end versus higher end of that range.

Clearly the.

However, we are seeing for Q1 in terms of revenues and in terms of margins.

We mentioned, 15% to 16% because of course, we have.

Slight decrease in revenues.

We have like negative operating leverage and that is having an impact on a full year number. We are seeing also a recovery in terms of margins as the year goes by on the revenue start to grow again.

We are assuming basically that.

Costs on pricing will offset each other and they should both be somewhere in the low to mid single digit number.

In dollar terms.

Utilization, we think we should be able to maintain it.

At similar levels than the one that we have right now it is around 80, 182%. That's the target that we are where we are.

Targeting for next year.

And.

I think that's basically what we're including in that assumption of 15% to 17% range.

Core operating income next year.

The Sheraton is honestly.

Okay. Thank you very much.

Thank you.

Thank you Brian Our next question comes from Arvin Romani from Piper Sandler Please.

Please go ahead your line is open.

Okay.

Hi, Thanks, Hi, Thanks for taking my question I had a question on the <unk>.

Bill rate increases that <unk> seen over the last couple of years.

Tanker, 10% that they are saying maybe lower too.

Mid single digits.

And.

And I think on that volume.

Bill rate and FX.

M&A is a core components that drive overall growth.

Satellite.

Volumes are trending at give or take on FX.

<unk>.

And bill rate.

Modules sure I'll take that question.

The Samsung I mean over the last two years in 2020. One we grew erosion for half goes to 12, 14% coming through it was around 8% to 9%.

Given the current scenario, we are all living in.

Until we see a stronger recovery I think it's right to assume an hour.

Low to mid single digit.

Pricing for this year, because there is still inflation, though coming down around the world.

In terms of pricing as I said.

No to mid single digit expected for the year as of as of today and the current information.

In terms of FX assumption that we have for this year.

Included in our numbers is a stable FX scenario, we have seen the dollar appreciate deliberate over the last few weeks as far as I appreciate over the last few weeks.

It's been going up and down depending on whatever happens with <unk>.

First rates and inflation and all of that.

In terms of M&A as I mentioned before for the full year.

That's the assumption that is embedded in our numbers is whatever we did up until now which is about four percentage points. It doesn't include any other than that we hopefully make loss during the rest of the year and so the rest is volume basically.

That's helpful and just a quick follow up.

This year in many of the transmission the R&R Europe digestion right.

Nominally hi, Mike.

Volume based growth of the last couple of years and this year.

Just wanted to have that sector, if the interim data doesn't really matter of Red Lake.

Like we've always talked about our 20% right.

The secular growth rate over the next three years.

What gives you the confidence that.

You get back to that secular 20% growth and I'm not looking for guidance for the.

Next couple of years or anything, but just the more normalized growth.

What's going to get us there from a underlying drivers perspective to get the denominator growth.

Maybe let me just you are.

Like an overview of the last few years and then.

I would have maybe maintain our view of travel in the range of what we are seeing into what are the needs that we're seeing from the market and that help us believe that we are living a secular trend.

Our business in over the last few years with the IPO in 2014, if you look at the CAGR of 2014 to 2020 was around 27%.

'twenty, one we grew 59% amazing 2022 a very strong growth again or is 7% and we are starting this year.

10% growth now that given the current market I think it's a very good number as well.

When we look into what's happening.

The conversations with customers are not changing that.

So they haven't yes.

The trends about needing technology.

To food.

The things the backend the front end.

Digital marketing efforts everything in order is something that we are Barry.

But we're seeing it very clear.

Very basic projects like for example, <unk>.

Big streaming platform that we have as a customer.

And which they need to.

Next.

Different platforms.

Still have different user bases.

To connect into a single user base those are projects, which are extremely extremely needed and they won't go away and they will keep on growing and growing so that secular nature of technology is still there and I believe that as companies understand that there are new ways of interacting with.

Acrology and computers.

There are customers, who are requesting those companies to behave like that and that will trigger like a new wave of that we have been talking about three massive trends like web three <unk> AI and met hours well those right things will keep on growing.

Right now it's in the center of the discussion because of things that are happening that would create again, a new set of conversational interfaces.

Yes.

People will like to talk with smaller companies.

People don't like to talk with call centers that are automated I don't know what to answer people like to talk with Smart company and Thats, a massive trend and that's something that we'll keep on going so I don't know percentages and I will never talk about percentage so as the future in this specific question that you may.

But I believe that the trend of every ear needing more and more technology more complex stuff to be done is there. So.

Just to complement on that.

Just to complement I think data.

Every now and then given new technology certain situations, we're being asked like case they are continually to your business.

<unk>.

In all honesty first of all we continue to have very good conversations when it comes to revenue growth type of deals that were the ones that were kind of slowing down lately.

But the most important thing is that.

Even though there are certain technologies that made our lives easier our works.

Much makes us much more efficient.

Software consumption will continue to grow we'll continue to grow with just.

Okay.

Only one example that showcases this 20 years ago.

Even less than 20 years ago. The portion of the cost of a car that was about software it was low teens, 12% around that.

Nowadays, we're seeing over 60% over 60% and continue growing I.

I think every single industry will follow that powder and Thats, what makes us think that there is a long and healthy way.

Way for us to enter into the future.

Perfect and if I can just.

One quick follow up on that.

With this.

We have seen this trend report and the cloud comes in.

You made money on cloud.

Revenue same scan from analytics and J&J.

<unk> business workflow and kind of building back front end consumer apps.

Taken a protector and then like better anti ecosystem revenue base around like a single technology team.

Finally, let me talk about AI problematic.

Our own for a long time, but are we at a point versus this new way of available AI is going to be as big as what.

Howard did to your revenue and if you can provide metrics, Greg again unless quantitatively.

How do you compare degenerative AI due to some of the things minutes mobile cloud or something else.

And in all honesty, I think I think it's.

AI has been there for a long time, we have business in AI, we created a studio six years ago.

We even built our own technologists.

I think like Martina said, I think what Chuck GPT Brink's and it's amazing for us, it's a big opportunity.

Is marketing.

Everyone knows about AI, everyone has gone through <unk> tried a few things and even though I think that I mean.

Diving into the model behind <unk> Amazing is very good as a quantum leap.

Forward in terms of what it brings to the table. This is actually an evolution and we're being part of that evolution and actually we are very ready to bring this everywhere, but the thing is.

Exactly to your point I think yes.

Moving forward, we will see much more revenue coming from that technology.

Perfect. Thank you sure. Thank you I think because so much alright.

Thank you Arvind and the next question comes from Moshe <unk> from Wedbush Moshe. Please go ahead.

Yeah. Thanks, So I have two one probably a bit more broad base regarding the pipeline and the other one is more focused on Disney so.

You indicated that your pipeline is at record levels.

Some of your peers are talking about a pivot in terms of the nature of the work in terms of whats really in demand.

And the focus seems to be on cost optimization and cost takeouts.

Is that something that youre seeing as well was this something that you would consider kind of focusing on given the fact that in the past you focus more on transformation. So that's kind of the broad kind of a big picture question about the pipeline.

Thank you for.

A question and.

Listen.

I don't think in the past we were not going.

Our cost saving projects I mean, we have been doing a lot of different things for our customers, including saving.

<unk> for our customers.

On the backend also on the front end so.

This is not something new for us and of course.

What we do and the projects, we do that our digital transformation has a lot to do with costs. So we have seen some kind of shift of interest of the customers of course.

We are playing that and I think that that will be the mood for the cold here.

And the question is how you answer to that question. All these new technologies that are bringing in new ways of doing things also save a lot of money. If you do the things right.

<unk> teams can be smaller or it can be the same size and do much more things and before efficiencies are changing.

So I believe that all those things still needs to be articulated and brought to execution. Although things are not happening right. Now I mean people are using those tools to accelerate the way they do things.

And they are starting to use our tools to accelerate the way they do things.

<unk> that need to go much deeper and company into appropriate that saving because of the efficiencies that are happening. So we need to help our customers to go through that process and thats, a long process and it will be it won't be it won't it won't be in one month it will be.

Across many years so.

To your question I believe.

There is a shift in global and it's absolutely ready and cutting those opportunities.

Fighting with our competitors in that scale in that space.

Been Fortunately very very successful so and audio if you want to complement that.

Okay.

Yes.

Alright, understood and then shifting to Disney.

<unk> probably be tough.

Yeah.

The biggest topic in terms of conversation with investors.

What's embedded in terms of growth in that mid teens number that you provided for the year I think 400 basis points. You said was from M&A is that I mean should we assume that Disney grow somewhere in the low teens for the year and then.

It will be helpful. If you kind of give us a refresher in terms of the different parts of business that youre dealing with where are we seeing growth obviously, a part Disney parks and some of the other elements just to get us kind of an update on some of the different.

Variables and designate that youre dealing with in the context of obviously, a new management team that's coming on board.

I'll take the first part of the numbers and that would then I'm sure Tom.

The shipping so in terms of.

Growth is asking for Disney at this point.

We are seeing in the short term we are expecting a sequential decrease in Q1.

Driven by what we explained during the call changes of people changes of projects changes of priorities, but we're already seeing a recovery into Q2 and a more stable scenario now for the full year.

Our scene.

We're assuming a low teens number.

As you mentioned that's assumption that's embedded in the guidance right now.

As for the type of.

Sure.

The type of projects that we will be working with others.

We will keep on working on the same stuff.

Again, there are some projects that are on the on the media side Entertainment side those projects around the park site parks are performing extremely well media is where they are concentrated in some of the cost cutting effort now on those projects, we are having like a big like Aveva involvement in.

The part of the savings.

Actively part of our savings so I think that.

Relationship as I said relationship is extremely healthy and that's the most important part of the story know the Gulf from some ups and downs us have always been the case with Disney.

I'm not really concerned about.

The future of our relationship.

Okay. Thank you.

Two other a little bit more on top of that I think that given the managerial changes and the strategy behind it.

There is a strategy that.

It is about returning.

Control to the creative part of the slate.

What we do know is parks will remain strong and we're very good position there and in fact it was our first.

Client.

For many years.

We are also seeing.

Demand in the enterprise sector as well within this state that's another good thing and what is happening now is that it budgets are shifting.

With that and that's why during Q1, we are seeing that deceleration while they are doing.

They are planning in any case, the relationship is a strong us as ever and stronger than ever and.

We just have a little bit less visibility in certain areas.

That's great. Thank you.

Thank you so much.

Thank you Marcia. Our next question comes from Surinder <unk> from Jefferies.

Please go ahead your line is open.

Thank you.

These two capital related questions here, just first one I'd like to ask is just about the advertising spend.

How do you actually measure the return that Youre getting.

But you have a brand recognition.

The work that you did at FIFA is.

Is the goal here to drive.

Sort of new introductions with new logo clients.

Should we think about the timeframe youre looking at that.

That's a great question.

The first thing is I would tell you is.

The amount of recognition we got from that.

Appearing on the World Cup.

It's massive.

Thanks, Rod where argentinians.

Got awarded the World Cup. So we are very happy for them.

Not just that I mean in general the connection with with our customers and with potential customer thats been great.

I would say that as far as I know connecting just two or three projects that comes to my mind and not met not making deep measurement of other which is very difficult by the way, but two or three projects that come to my mind.

Our connected directly with.

Our spend in that specific investment paid the whole thing the whole investment.

No.

All the rest needs to the upside so I am very positive about that.

I have been I think it has positioned <unk> in a place which.

Which number one we deserve.

Number two we will do.

And we needed to do something like that so we found that we were very lucky and.

I hope that this relationship with FIFA will keep on expanding this year, we will have their women World Cup.

And then we then workup.

The main work up as seen by 4 billion people that women work up as seen by four by 2 billion people have.

It is still a lot and you have a great audience here in the in the U S.

We have like a like.

Barry.

I would say that the initial projects already paid a full investment now we have seen that the things are coming with FIFA and with other customers will be upside for us in the future and the relationship I think is great and.

Other things that we have done in the space like La Liga or La Clippers are also extremely.

Has been extremely profitable so no we're happy with those things and although they were very difficult to this site.

And I cannot tell you that it were easy decisions, but.

But with the outcome.

Adjusted cash flow not only for FIFA, what also forever, a marketing event or every event that a REIT conference and reorganized.

There is of course.

We can follow.

What are the leads that were generated from that we try to measure the return on the projects that are generated from there and then compare.

The initial investment in this case us as Martin said.

More difficult because it's such a big event, but again.

This person.

Oh come on plus the fact that as we know we launched our new markets basically Minneapolis APAC.

Region recently.

The World Cup play in Mena I think it was great also to make a lot of connections into a region that is going to be investing heavily in technology over the next few years.

Let's now go to one that is going to happen now in Australia, right, there the women or cabinets.

In ASEAN, Australia test opens in August and we have a very different family their cell of Globus. So I think that is.

That moment to the ASO near that area and open and it's down so.

That's helpful and then the related question on capital here.

So we thought about share repurchases.

Given where the stock price is or is there is there does that enter into the equation at any points or is it just an afterthought.

Not at this point in time, we see.

Tinnitus.

So keep on expanding organically into countries, where we are not there.

Keep on adding talent development centers that we might need for the future and on top of that.

We are seeing a very interesting and attractive market for potential acquisitions. So we do see uses of the cash that we haven't would generate.

At this point, we think that that's the right thing to bundle and to expand our business.

Thank you Dr Maura Crazy.

Thank you Sandra.

For the next question.

Maggie Nolan from William Blair.

Please go ahead your line is open.

Thank you hi.

And.

One you referenced some SG&A initiatives and Youre talking points is there anything you can detail on those and then would there be material enough that we would see an inflection point from them at any point in 2023.

Yeah. Thank you good to see you again, it's been a while.

So we are doing given that we are living in.

I will tell you.

A more challenged market, we need to re careful how we spend money we need to be careful not just on SG&A, but also in terms of capex.

So what we are doing is looking into.

Every investment that we're doing making sure that it makes sense.

Not doing some things that we may have done last year. They are referred to in.

The market was booming for everyone.

What we will try to do is being able to maintain our our margins by being careful in how we operate on the SG&A.

We will keep on investing we will keep on expanding interest in our <unk> coverage, but we need to be careful how we spend the money.

Until we see the.

Long recovery.

Faster and we can then accelerate on the investment side.

Okay, great. Thank you and then to follow up on the on the last question.

How are you thinking about your willingness to do M&A in 2023 and can you talk about.

Your strategic objectives, there maybe weaving in some of the recent acquisitions that you've done in the last several months.

Yes sure.

This open for strategic.

Things that we find in the market. We are exploring the pipeline is very deep very wide.

Things are around geographic expansion about expanding capabilities to new places.

And to note.

So no knowledge places.

<unk>.

And also I would say that has to do with specific customers or specific sectors that we wanted to tackle so the reinvention studios.

There has been talk and many times.

Around.

How we do acquisitions that has to do with getting deeper expertise in certain industries or how we go deeper into Europe or how we go deeper into EMEA.

<unk> into Amina, how we go deeper into.

Areas of knowledge that we didn't have before.

The rationale are exactly the same as last year, and we expect to keep on growing.

On the on the M&A side.

During 2023.

Thank you Greg.

Thank you Mei.

Thank you Mary.

Our next question comes from Thomas <unk> from Keybanc. Thomas Your line is open. Please go ahead.

Yeah.

Hello Hello.

Your line is open.

Well in that case, let's move on to the next participant our last question comes from <unk> from HSBC.

Your line is open.

Yes. Thanks for taking my question. So my question now is more related to geographical diversification. So in terms of your guidance how are you.

Are you seeing the demand geographically.

Seeing more demand in the Europe .

What's the growth rate expectations.

Jordan to geography.

Okay perfect. Thank you I want to see first time, we meet.

So.

We see Europe .

Performing strongly.

Both from <unk>.

Organic customers.

<unk> funding.

Together with the impact of some of the acquisitions that we did last year.

The great partnerships that we're doing and we're dealing with linear so Europe , we have our own show strong levels of growth we are seeing.

North America.

No.

Charlie.

Kind of stable or slightly growing in Q1, but then.

Showing already a recovery into Q2.

And then Latam.

Now if you want to have a softer start of the year and a good recovery.

In quarter, two and onwards, so that said the overall situation and then of course, we have <unk>.

And APAC, which are the new regions that you should see growth because we are just there and we are closing deals and starting to work. So the comparison issues here. So in summary strong Europe .

Sure.

North America getting better as we go why Latam will start slower will then recover and Youll see strong.

APAC and EMEA.

Okay sure.

Looking at the gifted shares for 2023 at 443 point forward.

Does it mean that your share based compensation will be lower this year or how do you see this going forward.

Look.

We target three to three 5% of revenues and stock based compensation in that number.

<unk>.

We believe is the right number for the time being.

On top of that sometimes we use share for some of the acquisitions that we make typically we pay in cash or in shares.

As you would expect a similar trend for 2023 compared to the last few years.

Okay. Yeah. Thank you. Thanks for taking my questions. Thank you. Thank you very much. Thank you.

So thank you everybody and that will be that will be it for the Q&A session for today.

I would like to turn the Mike now to Martin for some closing remarks.

So.

Thank you very much guys for being here today. Thank you very much for coverage and support and looking forward to see you on the next quarter.

Right.

Hi.

Okay.

Yes.

Okay.

Okay.

Okay.

Yeah.

Okay.

Yes.

Okay.

Okay.

No.

Sure.

Yes.

And then.

Okay.

Yes.

Okay.

Okay.

Good day and welcome to <unk> third quarter 2022 earnings Conference call.

Makoto Langer Investor Relations officer at <unk>.

All participants on this call will be on listen only mode. After today's presentation, there will be an opportunity to ask questions. Please.

Please note. This event is being recorded and streamed live on Youtube.

Now you should have received a copy of the earnings release, if you have not a copy is available on our website investors <unk> com or.

Our speakers today are Martin <unk>, co founder and Chief Executive Officer.

<unk> <unk>, Chief Financial Officer, Patricia <unk>, Chief operating Officer, and Diego data Global Chief Technology Officer.

Before we begin I would like to remind you that some of the comments on our call today may be deemed forward looking statements. This includes our business and financial outlook and the answers to some of your questions such statements are subject to risks and uncertainties as described in the Companys earnings release and other filings with the SEC.

Please note that we follow <unk> accounting rules in our financial statements. During our call today, We will report non <unk> or adjusted measures, which is how we track performance internally and the easiest way to compare glow onto our peers in the industry.

You will find a reconciliation of <unk> and non <unk> measures at the end of the press release, we published on our Investor Relations website announcing this quarter results.

I'd now like to turn the call over to Martin <unk> our CEO .

Thank you Arturo and Hello, everyone, it's great to be here to share our Q3 results.

Global continues to deliver on our commitment to grow and to be the best transformation partner for our clients.

My team and I are identifying the strongest growth opportunities ahead, and golar for them I am looking forward to discussing our outlook with you, but first let's begin with the financial results in Q3, driven brought in $458 $9 million in revenue.

This represents 34, 2% year over year growth and six 9% quarter over quarter growth. We continue to lead above the broader market, we're delivering strong revenue growth robust profitability and generating healthy free cash flow.

<unk> is fully committed to delivering 360 transformations with consumer centric solutions, we execute these through smart process optimization that helps to streamline operations and achieve maximum efficiency.

Our service offering helps our clients improve their cost structures, our end to end capabilities helped them deliver in nobody who experiences for their customers leading to better topline performance and stronger returns as.

As we look forward, we do anticipate some challenges caused by macroeconomic and geopolitical uncertainty affecting the global economy.

However, we are ready to run these challenges into strategic opportunities.

In today's complex operating environment, we see a greater emphasis on high return on investment spending.

We have the expertise and unique offering ready to meet this need.

End to end digital transformation projects continue to deliver some of the highest returns for our customers.

The streamline operations, while improving topline kpis.

According to garner 69% of Cfos aimed to increase their digital technology spending to be more efficient and resilient. We're confident that global is well position to face this market opportunity, we look forward to helping our clients reinventing themselves and navigate.

At this time.

Moving forward, we will be investing in our people new market, our brand and growth areas, we will keep growing on our fundamentals remain strong.

Also have a solid pipeline of projects in the near future and we have become leaders in growth markets, such as media Entertainment healthcare and the life Sciences garnered market share recently named global <unk> as the fastest growing it services company worldwide when looking at the full year performance.

For 2021.

Also for us in Sullivan recognized globally as the company of the year for 2022 in the global digital transformation services industry.

They created this recognition to our unique studio model the innovation hub of global snacks, and our autonomous culture.

Global now has over 26000 employees present in more than 20 countries.

As we continue to execute on our main growth pillars, we deliver a deeper and broader array of services and products I'll begin with a growth pillar of our geographic expansion, we will have a more targeted and aggressive focus on expanding in Asia Pacific and Middle East.

We have created a new regional leadership, specifically focused on this market who has already been serving our customers there.

It's a new step in this endeavor today, we have announced the acquisition of <unk>.

Born in Australia E wave is a digital commerce experience consultancy.

They are on our winning Adobe platinum partner on a sale force gold partner.

E wave will reinforce global digital commerce capabilities and support the company's expansion in Asia Pacific.

They have offices in Australia, Hong Kong and Singapore.

And they have delivery presence in seven countries in the region.

<unk> has an expansive portfolio of b to B and B to C clients. The implement end to end digital commerce transformations in many industries and service areas, including CX design platform engineering optimization and growth.

Finally, we see waves passion for digital transformation and its culture with a global mindset is a great fit for our team.

They will be valuable partners in the next days for globally. We're also expanding our network of client and talent in the regions, where we already work. This.

This quarter, we expanded our presence in Italy.

Through our acquisition of <unk> data.

We're now present in all of Western Europe , five largest economies since that provides advisory capabilities and services to blue chip companies in data analytics business intelligence mobile apps and other fields.

Having a bigger local team in Italy is a great step for global because it brings new clients such as Maserati It will add to our relationship with our current clients. There that include a unicredit and alliance.

Now to our family of studios there.

Continued growing evolving and adapting to the latest technology trends and market needs.

In today's environment companies need to accelerate their digitalization, especially in the areas of cost optimization and process efficiency. We have created a new glasser of studios for enterprise platforms to take advantage of this opportunity.

This cluster, we consolidate our alliance and efforts with Salesforce SAP and Oracle all of our finance platform specialists will be working closer together in order to support clients reinvention from their own car.

This involves improving process optimization as the backbone of their organization, while taking into account the ever changing context for every industry. As you May remember last August we launched the fast code studio upon incorporation of Gen Xs.

Our aim is to boost new ways of creating low and no code software.

This is also an applicable tool for clients that need to reduce time and cost when developing and deploying products. There is a particular market opportunity that we see right now due to the demand for efficient time to market and the growth sector of Super apps.

With the recent release of Gen. Xers 18, we now have the first enterprise grade platform for low code development of native Super a mini apps, we have trained over 5000 globally in relevant speciality of this space, including UX and business analysis.

As we grow our products and platforms continue to consolidate their own identity and recognition with our client community let.

Let me share some quick updates on some of these we're seeing growth in our visual testing platform magnify.

Many of our clients are renewing and increasing their usage of the tool to improve testing quality, so that they develop better products faster.

Final testing processes are being reduced significantly the software as a service version of the product was launched in October and we will expand the features in the months to come.

Our platform, our water, which accelerates the way to create called also continues to grow.

After a year of implementing this tool a global software development has become faster and more efficient we look forward to seeing this efficiency multiplied through.

Through the services, we offer our clients positively impacting their development costs.

Now some thoughts on growth areas.

That we are very proud of as you may remember in 2020, we'll launch our smart venue concept. This mission is to reinvent the user experience is live sports and entertainment through technology.

Third the exceptional digital adoption after the 2020 pandemic, we have seen the growing need for this transformation.

Now demand more.

And they should in Q3, we scored major goals in turning this vision to life landing some exciting new projects in late September My team and I went to Spain to publicly announce our joint venture with La Liga Spains Top Soccer League and one of the largest.

In the World together, we will leverage <unk> experience in delivering industry transformation with La Liga expertise in global sporting events, we're creating a new global technology company that will deliver digital reinventions to support organizations by leveraging web <unk>.

<unk> technologies, Metaverse and gaming capabilities among other fields.

Three weeks later, we announced a multiyear partnership with FIFA to become the global platform supporter of FIFA plus there are signature content up.

This agreement give us global exposure for our brands.

Robin will be seen on the screen during every world Cup much.

This is a huge step for us we strongly believe in the power of sports in bringing people together and the key role that technology place to do it.

Finally, I admit that I am a soccer fun, but I'm excited that <unk> will be working on other sports as well.

We have signed a multiyear partnership with Los Angeles Clipper to provide the game changing digital platform for their new Intuit dome opening in 2024.

Robin will term, Steve Ballmer vision of a digital fan centric experience into reality it.

It is an honor to be working on this transformation to create such a meaningful and seamless user experience.

Our goal is to achieve a maximum benefit for our staff players I'm funds. In addition to these exciting new projects I'm happy to see global vision of Tech trends in our society share with our audiences on November 2nd we hosted our eighth annual converge event.

It is an opportunity for global to bring together some of the walls creative and leading voices. This year, we focused on the issue of reinventing connections to go over how technology is changing the way our society interacts.

I myself had the pleasure of sitting down with Bob Iger, former Disney Chairman and CEO we.

We had a great conversation about the future of technology, the constant pursuit of perfection and Disney's reinvention.

Some of my colleagues had similar talks with thought leaders, including Arianna Huffington currently clause on Rafik and idle the.

The recording is available at converge that global Dot com.

Dosing out I continue to believe that we are among the most dynamic innovative talented and diverse organizations in the world. We're constantly reinventing the way we offer our services and products also how we have structured our teams to take advantage of every opportunity I am.

Confident in the future and keep expanding our presence and growth. It is a pleasure to work with our Glover.

Who broaden the horizon of digital transformation everyday with that I'll turn it over to Diego tied to further our global CTO. Thank you very much.

Thank you Martin and Hello, everyone.

Great to me back with you to discuss the evolution of Logan's technology offering.

We're making exciting advances into new technologies and platforms for our clients. We're also providing them with solutions to improve their systems and platforms to optimal efficiency.

I'd like to begin with a closer look at the one Martin mention about our studios.

We launched two new Enterprise studios for SAP and Oracle as Martin mentioned, they will become part of the enterprise platforms to your cluster together with Salesforce and process optimization studios.

This cluster will help current and prospective clients increase productivity reduce cost and maximize their business results.

So new development regarding our current studios that are reinventing the game for our clients.

Our healthcare and life Sciences re measure studio is capitalizing on opportunities of each sector now that technology and life Sciences are completely intertwined.

This studio is working with a British multinational pharmaceutical and biotech company, we're helping them to develop a virtual contact platform that expand the reach of doctors, who today are not accessible due to geography relocation of resources among other reasons.

This industry. We mentioned to you has earned recognition for its work in September Wilder and knowledge solutions named global industry leader in 2022 spark matrix for health care services.

<unk> highlighted low in central and consulting capabilities to enhance customer impact and service excellence for our clients as the reasons behind their recognition.

In financial services business ecosystems are notoriously complex and undergoing a transformation through technology.

We have been expanding and leveraging our expertise in the sector for our global clients through our finance studio.

This team is leading business transformation and advanced analytics with proprietary models, helping clients to optimize their use of their data and adapting their management models quickly.

This studio is currently working with a top 10 European lung that offers a full range of financial services for 15 million individual customers and for about 500000 companies in several European countries.

Roland is carrying out a transformation in digital lending for their SME segment.

We're helping transform the full end to end experience.

And the go to market value proposition for Smes the customer experience is now Fayetteville and improved for optimal customer satisfaction.

Through AI technology, and advanced analytics, we are assisting reinventing this client's credit lending decisions and issue of additional importance during times of higher interest rates and market volatility.

Now some news regarding our sustainable business studio.

<unk> launched the studio in 2020, because we understand the role that disruptive technologies can play in closest sustainability gaps.

Studio has been providing solutions that achieve both a stronger strategic focus as well as an incorporation of sustainable processes.

This quarter the studio performed a research initiative for Inmarsat.

Ward neither in satellite communications to explore to the positive impact of the space technology towards net zero emissions goal.

The findings revealed that existence satellite technologies could save up to five 5 billion tonnes of cotwo per year.

This is particularly encouraging because it's one step closer in creating a pathway to reach net zero emissions by 2050.

That is looking where possible through consistent global education and implementation for both the public and private sectors.

As leaders in technology, we recognize our own company you can have a multiplier effect in the global effort to help the planet.

This is made possible through education and training.

We're now providing a companywide green 19 training to both inform and inspire our global team.

Just as we had our entire company training, both AI and blockchain in recent years, regardless of their focus area. They know will be encouraged to design and develop digital solutions. According to low carbon tools processes and best practices.

Training offers education fundamental dosing green, so forth and digital so variety.

Sustainable coding practices for wave UX mobile and Bakken are specialist and best practices to efficiencies create a managed data and optimized cloud infrastructure in terms both of cost and energy consumption.

Now some additional context on exciting projects for some new clients.

Our work with FIFA is aimed to supercharge the growth of the FIFA plus streaming platform.

Gordon will create new features and connected experiences for FIFA plus users, while supporting the platform's distribution.

By doing this FIFA will be able to exponentially increase the viewership office artificial content, while allowing farmers who shared their preferred contact with friends and family on bigger screens.

As you heard earlier, we were selected as the official digital transformation partner of the into it though.

The new home of BLA papers.

When completed in 2024 and is expected to be one of the most technologically advanced smart venues in the world.

No one has begun to co develop the digital roadmap for the brand New Arena, we will have lower most disruptive technologies to bring to life, a new user experience that includes seamless ticketing personalized loyalty programs that tango payments point of sales. Among other features globally differential is that we're on.

All of these different services in a cohesive 316 implementation package in an extensive in close partnership with nearly clippers.

So in North America alone is partnering with Amazon Web services to enable a large scale cloud transformation for Stryker one of the worlds, leading medical technology company.

We are working on voice communication services for their nearly 2000 institutions, which include hospitals and health care facilities throughout the world.

We're planning to offer these services through a highly scalable multi tenant solution.

AWS cloud.

Let me explain a key role in transforming the existing monolithic more IP service into a micro services architecture, enabling stryker to our new customers are twice the speed and saving millions of dollars over the next three to five years in Latin America, we're working with Grupo Antolin.

Is a multinational retailer with operations in that region to carry out a major expansion plan.

Ambition for both organic and inorganic growth present, the need and opportunity to redefine the operating model and technology strategy to accelerate the fulfillment of the group's business objectives.

<unk> joined work includes a brand new IP strategy and organizational group linked several quick win business cases, and a roadmap that will help grupo than otherwise transform their it to support their business ambition.

In Mexico, we're working with a leading retailer.

They approach global because they wanted to enter the Fintech space.

Develop a virtual wallet and enable the company to issue its own debit cards for global purchases and ATM withdrawals. This has enormous multiplayer potential in Mexico, where 60% of the population remains in a month.

Carefully sign workflows to meet the goal of creating a banking interface that offers the best user experience understanding that many of the users would be using such technology for the first time.

Within the first month more than 5000 digital accounts were opened and the growth has been exponential by the end of the fourth months 180000 monetary transactions were carried out to.

Today, the wall and is used by almost 4 million people.

It is a true honor for global and to be working on this business because of the financial inclusion that is providing to the society.

Now some news on our exciting work for Nissan in 2019, Nissan chose global partner to support its global customer experience vision based in London.

Today, our teams work together in Europe , and the Americas in support of the Nissan ambition 2038.

Aim to empower mobility and beyond for a cleaner safer and more inclusive word.

We're also working with them to reinvent the customer experience of buying a new car enable them with technology to improve and as new touch points.

In October we hosted the global lithium customer experience.

At our new flagship office in London.

Over 17, Nissan executives were in attendance from all over the world.

With that I'll hand, it over to <unk>.

Thanks, Diego, Hi, everyone and happy to be with you all again.

Began with a breakdown on revenue the Walt Disney Company continues to be our largest clients growing by 25% year over year, and eight 6% quarter over quarter.

The rest of our accounts collectively grew by 35, 4% year over year, and six 7% quarter over quarter.

Our 100 square strategy continues to show results.

Over the last 12 months, we have 13 accounts that brought in more than $20 million of revenue compared to 11 from that same period the year before.

We also have 255 clients with more than $1 million of annual revenue compared to 160 to one year ago.

Regarding our geographical distribution of our revenues in Q3 64, 9% of revenue came from North America.

One 9% from Latin America, 10% from EMEA, and three 2% from Asia and Oceania, We're fully committed to building relationships with new clients. We also see is that there's value in accessing the networks of our current clients.

Active way to grow that's why we continue to focus on the net promoter score.

We use this to measure how our clients refer app within their communities over the last 12 months ending in Q3 Global show a net promoter score of 74.

This is four points about this core announcing Q2, continuing the previous 12 months.

On a general basis, the net promoter score is consistently above 75, and well above the industry benchmark of 41, we remain committed to delivering our project with operational excellence and high quality now to head count our global team continues to expand.

Three our total head count reached at 26541 clobbered.

74000 men had entity to uphold our it professionals.

This marks 21, 5% year over year growth.

No one's annual attrition rate is currently at 18, 5%.

The lower in two years, and 140 basis point below Q2's annual figure.

Talent continues to choose club and we offer some of the most engaging project anywhere in the world and the chance to work on the latest information enable long term career opportunities.

Moving forward, we will continue to strengthen and foster our corporate culture of putting people first.

With an emphasis on China.

We want to ensure the wellbeing of our Glover so that they achieve the best version of themselves. That's why we are regularly listen to our team to customize our value proposition and redefine the workplace experience compensation and benefits accordingly.

In July we survey our global in our periodic engagement pulse.

Over 80% responded that they were feeling really well physically mentally and emotionally. This is great news for our efforts to make this company a great place to work.

Robert It's also speak to the importance of talent.

Patrick asset broke loveland.

I'm pleased to see that global talent Center strategy is been vessels nice in the market the way we work in.

In Latin America home to 74, 6% of our Clobbered. We recently received several recognitions in Mexico fourth rank us among the top 10 best employers in the country and player for year recognized globe and among the best employers in Costa Rica, Peru, Brazil.

And Chile and number one in Ecuador.

<unk> continued to find new opportunities within the company. Our open carrier platform launched in March has been an effective tool in diversifying the talent opportunities right here at this company.

Robert and agile and intuitive way to apply to new positions.

Africa, India and Korea challenges over 6000, Glover had applied to find new opportunities within the company.

Additionally, global into University is constantly grow into provide Upskilling and Korea alone learning during Q3, we launched an AI engine on our digital campus.

Any of that new content every day to our club base.

And the social learning Forum, the Booth educational exchange roughly.

Roughly 22000 globally use this platform.

And now to the pillars of our <unk> initiative, which continues to drive global relationship with all of its communities.

I mentioned in the last earning call, we mean that they'll awards global recognition to support and promote the development of talented women leaders in technology is back for our third edition.

More than 1200 women from 50 countries were nominated in our five category.

Ticketing digital either <unk> rising star and Tech Ferenza, they've received more than 110000, both from all over the globe.

I look forward to sharing with you some of the amazing women leaders that will be recognized in the coming months.

Now some exciting updates of our <unk> Tech fund.

You may remember that we launched this last year.

This fund is unique in the world.

It is especially pocket on supporting startups, whose business is to provide solutions to some of the negative effects of technology. Today, we are proud to announce that the fund is investing in politics.

This is the first platform to introduce web three <unk> technology to the war of ideas and opinions. The startups mission is to upgrade how people support and oppose opinion leaders disrupting the echo chambers cultivated by traditional social media platforms by alphabetically so in France.

Different viewpoint of their leaders opinions and.

And financially rewarding detractors, who engage in smart and simple type of debate.

As the funk mission continues and its network rolls, we're happy to have more institutions joining forces with us there.

They might be sandbox innovation fund is partnering with our be kind of fun to raise awareness among our students about negative effects of technology. Their aim is to encourage them to develop ventures that tackle issues.

AI buyer online harassment and abuse.

And polarization our signature scholarship program up quality of future continues to expand.

This call is it includes access to talk both Cam and global of course is to boost employee identity.

In Colombia currently global Clarksons talent market with nearly 5700 scrubbers, we launched it especially in addition of this program called Construe shipper in collaboration with the Boa tax City government.

The aim is to give opportunities for education and employability to the population affected by the internal armed conflict, we will be giving scholarships to 500 people to give them.

Pathway to work in the sector before the end of the year aligned with our public commitment of granting 15000 coding feature scholarship by 2025.

We'll be offering at least 1000 grant for an eight month training process to people from Latin America.

80% will be offered to women I'm proud to see that this indication of efforts are being globally recognized in October Fortune magazine, including <unk> for the first time I'm on the top 50 companies with idea that are changing the world.

The profound social impact of the quality of future program.

And with that I'd like to hand, it over to one with tagging our CFO . Thank you and with afternoon, everyone I hope you're all doing well.

Let me first recap the solid results for the quarter.

Then I will provide our guidance figures for the fourth quarter on the full year 2022, we are proud of the financial results delivered in the third quarter, we managed to post another quarter of strong growth profitability and cash generation.

Every globus effort across the organization is reflective in our results. Today also we want to thank each and everyone of our clients for the trust placed England.

Our revenues for Q3 were 450 $849 million, representing a 34, 2% year over year growth on a sequential basis, our revenues for the third quarter of this year increased six 9% Q3 revenue growth was 36.

7% year over year in constant currency.

Two five percentage points above our headline figure.

Inorganic contribution to growth stood at three percentage points in the quarter. Our business model continues to prove resilient in this macroeconomic environment. We continue to assess the increasingly complex economic outlook and observe the growth is moderating towards historic average.

After an exceptional period of growth during the pandemic years. However, we continue to see our long term growth drivers are unchanged and we continue to believe that we are in the early stages of a multiyear secular growth trend under the current environment, we see a greater.

The potential for our service offering because it is expansive and adaptable to client needs global.

<unk> value proposition continues to be unique in the industry. We continue to see technology as a solution for a wide array of challenges being faced across the business landscape. Our premier end to end capabilities continue to drive high Rois for our clients while.

Our product delivery model allows us to adapt quickly to market conditions.

Also our focus on robust delivery and client satisfaction, coupled with a global and diversified delivery model are all factors why our clients continues to choose to work with US. We believe some of these factors are reflective in our growth rates, which remain amongst the highest.

In the industry, we remain focused on our profitable growth formula.

Our adjusted gross profit for the period increased to $179 $6 million, representing a 39, 1% adjusted gross margin unchanged quarter over quarter.

We manage both the demand and supply of the equation.

Fixed hedges wages and pricing with target to deliver towards clients high value up until our shareholders and stakeholders above industry average growth. Our gross margin levels continue to reflect the value that our clients in our services relative to array.

Of the industry.

Adjusted operating income for the quarter amounted to $73 $7 million or 16, 1% of revenues flat quarter over quarter adjusted operating margin for the first nine months of 2022 stood at 16, 3% relatively unchanged on an annual basis.

We are proud of these results after nearly tripling the company's revenues since year end 2019, we have also managed to preserve profitability levels.

We are excited about what lies ahead.

And we are convinced the growth opportunity is stealing minutes, we will continue to reinvest to capture that growth. We are excited in terms of building a world famous brand executing on our 100 square strategy enhancing our global delivery and our studio model and reinventing the in.

Industry through low Anteks.

Regarding below the line items.

Our <unk> effective tax rate for the quarter was 21, 9% largely in line with our guidance.

Adjusted net income for the third quarter of the year totaled $54 $7 million, representing 11, 9% adjusted net income margin.

Diluted EPS for this quarter was $1 27.

Based on $42 9 million average diluted shares for the quarter three cents above our quarterly guidance of $1 24 per share.

Adjusted EPS for Q3 implies a solid 29, 6% year over year growth, we continued to execute on our balance sheet management and capital allocation priorities. We believe that our balance sheet is strategically suited to fund our growth ahead at a time in which the market.

Is it starting to offer attractive opportunities inorganically and organically.

Our cash and cash equivalents and short term investments as of September 30 is 222 amounted to $369 $2 million currently our credit facility of $350 million is fully undrawn. We continue to carry a net cash position in our balance sheet.

Which coupled with our organic operating cash flow generation should provide ample on attractive funding to support our organic and inorganic growth strategies in the short term, we posted a strong quarter in terms of cash generation.

Cash flow from operations for the Q3, 2022 was $76 million, while capital expenditures in the quarter amounted to $30 $1 million.

From a free cash flow perspective, we generated $45 $9 million, representing 84, 1% of our adjusted net income for the quarter at.

At the end of Q3 DSO was 76 days in line with the same quarter one year ago.

All in third quarter 2022 reflects the outsized growth and above average profitability of our company a solid free cash flow generation, continuing our commitment to deliver value to all our shareholders and key stakeholders, we remain committed toward profitable growth formula.

Now, let's talk about our business going forward I would like to share with you our updated outlook for the full year 2022. Despite the current macro uncertainties, we continue to be positive about the growth opportunity for our global and our industry.

Based on current visibility, we are increasing our full year guidance to $1 billion $778 million or 37, 1% year over year growth.

These guidance figures considers approximately two percentage points of FX headwind.

This full year guidance implies Q4, 2022 revenues of at least $488 $5 million or 28, 6% year over year growth.

Full year and Q4 adjusted operating margins are expected to be in the 16% to 17% range. How you finance effective income tax rate is expected to be in the 22% to 24% range for both Q4 of 2022 and the full year 2022.

Adjusted diluted EPS for the year is also increased and it is now expected to be $5 six.

Assuming $42 8 million average diluted shares for the year and implying an adjusted EPS for Q4 of $1 <unk>, assuming 43 million average diluted shares outstanding for the quarter.

Thanks, everyone for participating in the call for your coverage and support.

[noise].

Sure.

Sure.

Okay.

Thank you and hi.

Hi, everyone. So now as we go through the question and answer section of this call.

And I was running.

At which point please on mute your line and make a question.

Please also ask your question is on please make sure your line is muted again.

And we also please ask you to limit yourself to one question and to one four.

With that in mind.

I'd like to take our first question from the audience from Ching Wong from Jpmorgan.

Please go ahead your line is open.

Okay. Thank you your answer I appreciate it.

Yes, so the fourth quarter outlook was encouraging nice sequential growth is there a way to maybe help us understand what's changed in the last 90 days with respect to what you had for.

The fourth quarter I know the FX has moved beyond the acquisition.

Just want to make sure we understand what's.

What's changed.

Sure. So thank you Jim for the question.

Over the last couple of months as you know we.

We have closed.

There is other than the acquisition of you were at the same time, we continue to expand organically our business around the world.

We continue to see strong growth ahead of us.

No we updated our guidance for the full year for the fourth quarter.

Now to 37, 1%.

We are very seasoned.

6% for Q4.

The macro environment has changed.

Change that we.

We continue to see.

Some companies are working on the budget for 2023, maybe taken a little.

Longer to close a budget.

But overall, we continue to see growth ahead of us on the Q4 guidance I think is pretty much.

You know, it's a very solid number and it's pretty much unchanged.

In the previous quarter.

Okay, great and I'm glad to hear and then I know.

You mentioned Disney clearly Great Bay.

Very quickly, but looking at clients two through five or 10 in general any surprises there it looks like it was down a little bit sequentially.

I'm curious how broad based that is any interesting callouts or considerations.

Oh, no not visiting clients.

Disney has an amazing.

In the quarter with US we grew eight 8% sequentially, but as you said.

There are two brackets, you don't get to five and six of them.

See actually to two particular customers.

In one case.

In the travel sector and the other one is in the financial sector both of them in Latin America.

Because of the of the travel company.

It's a very big project, but we have been working for the last three or four years and expanding that relationship significantly but that project is now moving into an ongoing evolution phase and while we continue to work with them on finding new investment ideas and new opportunities.

The level of growth in that account came down a little bit and the other one is again a financial institution in Latin America. So it's very specific to those two customers all the rest of the customers and talk to them.

Have grown.

In line with the company and businesses.

As you can see in the numbers.

A very good quarter or something that we also by the way anticipated backing.

In August we filed our previous quarter, yes.

Yes, now you did it's all encouraging for that on that side. Thanks for the detail.

Thank you. Thank you.

Bye bye.

So our next question comes from <unk> from Citi. Please go ahead. Your line is open.

Okay.

Thank you and good quarter.

My first question is on head count the growth seemed to slow a bit.

Are you sort of looking at the demand environment.

Yes.

Reacting are becoming more careful.

If you can kind of comment on how youre thinking of head count growth going forward.

Obviously, the other factors that come into play with that head count includes attrition and utilization.

Sure how do you expect that to trend.

Sure. Thank you Joseph for the question.

The level of hirings.

Additions, it's always a combination between.

Our hires a threesome.

Utilization levels.

And in the current environment, while we continue to observe how budgets are going to be approved for next year.

What's the macro whenever you like.

You know the rest of the year.

We have been doing is we also anticipated in the last quarter was working on the utilization number which went up.

Than two percentage points. During this quarter working also on that recently learned that came down.

From 19, 9% to 85%.

We are we will continue to monitor all the macro variables combined with how the industry.

Evolves on.

That into consideration to be flexible in the number of people that we attract.

You're in a particular quarter, we still have room to grow.

Physician level, we still believe that attrition numbers can come down.

And we will continue to monitor all the macroeconomic variables on how our customers can be.

<unk> two <unk>.

Hum.

And be flexible and ready to accelerate hiring as soon as we have more clarity.

Yes.

Understood and then the other question was with regards to the new studio announcement, the Oracle and SAP.

Does that.

It seems very promising the question I have is.

Are you getting into more sort of regular system integration type work.

Yeah.

A lot of the other traditional Si play.

How are you going to differentiate the two.

The type of work here.

Hey, Thank you Ashwin.

I may take the first portion and then I will let the vehicle to take the other.

Look this is something that our customers are requesting to us they love the way we work with a love the way, we do things the way we.

In some way we integrate.

Our teams and how is our culture.

And we have seen like a pretty.

Steep growth during the past years in these specific segments.

And we decided to put all that into a new set of studios.

And I.

I think it's a natural evolution I mean, when you start working on the front end and you need to work on the back end to be able to connect that from them without backend.

Then suddenly the guys doing the back and say Oh, well, we are seeing like a new way of doing things and we want more of this and I think this is what is happening.

One client after another and that is yielding to a new way of doing things that normally we're doing where we're dialing it in a different way so.

That's the dynamic that is happening.

I think clients are pushing us more than us pursuing that in it.

Proactive way, but we're very happy with what's going on and I think we will be investing more in that specific space because there's a lot to change there is a lot to reinvent.

And.

The global signature is extremely important in that space, where started school is the Queen is the king of the of the of the sector. So I don't know.

I think you pretty much covered it just went out.

I think there is currently sort of conception with regards to platforms.

Being a.

Cookie cutter or how you implement software platforms have become.

Very robust but also.

They allow you to go.

Beyond what they used to so nowadays you have let's form says accelerators.

Our great in terms of achieving great time to value, but also allow you, allowing companies such as <unk>, which specializes on implementations to create amazing experiences and that's how we're aligning and partnering with this platforms on every specific sector just as an example of that.

<unk> wave.

Got us grade.

Amount of expertise within the Salesforce cloud commerce.

Sector as an example, reinforcing.

Our expertise and knowledge so.

This is again I think.

What brings to Lauren here is more end to end capabilities, but always conserving the DNA of loan, which is reinventing industries, creating diverse experiences connecting with clients.

Thank you Ashwin. So our next question comes from Moshe <unk> from Wedbush motion.

Please go ahead your line is open.

Very strong results congrats two questions. The first one on Disney So Disney had very strong results for the quarter.

Do you have any preliminary kind of comments on how what should we expect from Disney in calendar 'twenty three.

I'm, assuming you are having some discussions with the various units that youre dealing with but any color here could be helpful.

Yes.

Yes.

Thank you.

For the question.

We believe we are positive about.

The long term relationship we have with them and we.

We see their relationship growing and we are ranked on the top of the.

Partners that they have.

We work very hard for that to happen. So we.

We feel that the relationship will keep on expanding in different areas and different places and what we see is no parts being very robust in terms of.

Activity on the other side on the direct to consumer.

Things are also very healthy in terms of amount of new.

Things that are happening there so overall I believe that.

Next year will be a positive year for D. C. Two and next quarter of course.

This is what I'm, what I'm seeing right now I don't know.

What's going to happen in the future with microeconomic situation, but I believe.

You see in our relationship with them.

That is great and the company overall is in.

Very good shape.

Greg if I can add something there.

You look at our growth this quarter was very solid at 25% year over year, but also as you look at the growth 11, two the M. So all the rest of our customers. The level of growth was also very solid. So we got a top 10 accounts are just just account for 34% of our revenue right now coming down from.

Almost 40% a year ago. So the point I'm trying to make here is that sometimes growth maybe driven by some of the top accounts Disney other times, we have a great portfolio of customers that are maybe in the 11th before 11 50 that also can contribute to that growth.

The fact that now the benefits.

Smaller number.

Also gives us the flexibility to grow in multiple parts of the organization and I think that.

The fact that for example, 70% of our revenues is coming from public companies.

Also something that in our.

The way it creates a great opportunity for us to keep expanding and growing our business. It doesn't I bought my points does not depend on one customer yes, I appreciate that just as a follow up Martin at the beginning of your introduction you spoke about some companies starting to focus more on return on investment or ROI.

Is that right.

And some of your peers are also talking about the fact that some of their some of their clients kind of moving our moving away maybe from a growth mode more focus on costs and ROI is that something that you are actually seeing and is that changing the nature of the work that you are kind of providing to your to your enterprise clients.

No no country is not is not changing.

I believe.

That focus is because we can provide other at the same time like an increase on the revenue and a lot of efficiencies when you talk about costs and where that kind of company that.

We have been working historically on how to increase revenue and now we have you know.

Barry.

Efficient model of delivering technology from many different places in the world, but not just that.

But also we have tools like magnify or a rule or all the or gen xers to accelerate and.

Like.

Very good multi players in terms of efficiency to the same teams producing well.

What we develop so.

So I think that.

Those two factors combined at the same time is what I refer.

Customers focusing more on a return on investment is not just about creating more revenue now it's about being more efficient too.

Understood. Thank you.

Very welcome. Thank you for your questions.

Thank you Moshe So our next question comes from <unk> <unk> from Morgan Stanley . Please go ahead.

Hi, Thank you for taking our question.

We would like to get your thoughts and expectations on human talent management.

Layoffs in the global Tech industry have accelerated and we would like to know how and in what timeframe. You believe this could impact your ability to staff people. Your personnel attrition costs and also if there are any differences between labor markets.

Our regions and.

In general.

So the first part of our culture and you Didnt get it I don't know millennials et cetera.

Yeah.

What is the impact of the picture.

And our business.

Okay.

Thank you for the question I mean.

That they're.

The market is strong you know the technology is still on the high end demand. So I think that in terms of how it is impacting.

Human talent in the way we are approaching I mean, it's not direct these days, we have investing in how we handle our talent and global for the last couple of years in terms of putting the people in the center of the organization and that is given as a result in terms of the attrition as you can see and we expect that attrition at the same levels for that for the next.

We're continually lower so I think that in the macroeconomics I think are happening some companies in the tech industry and bring some layoffs of course, I mean, we love and has that been in a very way in a very good way in terms of keeping the talent as we have been doing all the dcs in the middle of the pandemic.

We also keep that in mind. So that is our focus on these days in terms of how it is impacting in terms of the region Latin America.

Still a very strong demand in tech profiles, and we have been able to be the best place to work in many countries. This last couple of months, but I think that's the kind of relationship that we have with our employees has been amazing our pulse engagement interviews with them has been very good results. So I think that the.

The kind of relationship and the possibilities were given to our employees is really good. So I think that is a mix of things. We are keeping of course are very in very short our kpis in terms of their utilization in terms of the attrition in order to be seen what is happening on an everyday basis.

Of course, we are.

Relating it back, but I think that at this point is not changing the way we are handling our talent. These days I mean this is at this stage, we keep on extending buyout lovers and of course, engaging with them and trying to be closer and now than ever.

Crystal clear thank you.

Thank you. Thank you so much.

Okay.

Thank you so much uncertainty so our next question comes from Kate Carlson from William Blair.

Please go ahead your line is open.

And everyone. Thank you for taking my question and congrats on a partner.

Diving into Charlotte.

Area, a little bit more so I know that hiring has.

But I'd like to know when you do hire now are there certain skills that they are prioritizing when you do hire.

Okay.

Well of course, I mean these days I mean, they're they've yet is here has been is not that we are prioritizing now when it becomes a different from a month before that that demand is strong for us and based on kind of profile that we have been looking in the last couple of years that has to do with the correct talent pokelogan relevant as a platform where we.

I'll find it at the people not only to saying one project forever or any one carrier forever. They have been the chance to go to many clients access the ability to go to anywhere. They want so that is the kind of the skill set that we are looking at these days. It has to do more with the kind of talent that is appreciating the way to grow I mean this is related.

With a company that once they're in place to keep growing faster.

Faster than ever and be the best version of themselves that is the kind of talent that we are still looking at.

The last couple of months I mean, we have been working very close with with some of the specific countries that have been in prices and that has to do also with the kind of people that we want in our company to keep growing and to beam hunting, we have been reorganizing some of the structure. The last couple of months in terms of the way we are.

Broach, our clients and that has to do with the kind of management that we are putting leading in front of that plant being closer to them.

100 Square program is an example of that is put in our best talent next to a client in order to be finally, the win them. So I think that is the end of the skill set that we are looking.

People that are really here is that they want to learn.

Keep growing in a company that is growing.

As you can tell by the results this quarter and we keep on track I mean that is dead DNA up there at the club and culture right.

Great.

Thank you.

And then shifting gears a little bit you guys mentioned on the call that year.

Targeted focus on Asia Pacific and the Middle East can you talk to me a little bit more about the opportunities you see from wells in those areas.

Yes, sure I can take that one I think that Asia Pacific for US has been an area, which has been absolutely under developed.

In the past.

So.

Some some time ago, we decided that that should change.

And that should be one of the main areas of expansion.

So we decided to start with some acquisitions like we did today and we announced the acquisition of <unk>.

In Australia.

And also they have operations in Singapore, and Hong Kong, and other places which will help.

Help us also when we acquired <unk> they had an operation in Japan, and they will complement those operations that we are acquiring right now with <unk>.

And I believe there is a big opportunity there when you add up all the.

All the Asia Pacific plus the Middle East countries plus.

Some other countries in which we operate but sometimes.

The market was not a big like India or.

Some other countries over there so I.

I believe that overall when you take all those things it represents a gigantic market.

We're needs are pretty similar to what we serve to our customers in the U S in Europe , and Latin America. So I.

I think it's a very good vector of growth for us moving forward.

Great.

Thank you.

Thank you so much thanks Kate.

It looks like the question comes from Surinder <unk> from Jefferies. Please.

Please go ahead.

Yeah.

Hello.

Thanks Rhonda.

Your line is open. Please go ahead.

Yeah.

So we'll jump back to turn there, but our next question comes from Bryan Bergin from Cowen Brian . Please go ahead. Your line is open.

Hey, guys. Good afternoon. Thank you.

As you kind of look forward here and scenario plan for what just May come can you just talk about current levels of visibility in the business. How do you think about impacts of potential recessionary pressure and is there any simplistic way to segment. The mix of work that youre doing that might be more exposed versus what's more durable or the amount of clients or Mexico.

Lions that are really extending their budgeting cycles, just trying to think about how growth resilient sheet can confer here given that given the macro and the customer conversations that youre having.

Sure. Thank you Ryan for the question.

Yes.

The last one.

Two quarters.

You know the global economy has been.

Are there any read of freshener with different things happening in different regions.

Now, we're getting close to year end.

Yes, definitely we have seen some customers you know the name.

There are a bunch of processes on some.

Some projects, sometimes ramping up a little bit lower because of <unk>.

You have not been approved for next year, so that is reducing a little bit the visibility that we would typically have.

By this time of the year.

At the same time, we continue to see good levels of growth as you can see my guidance.

Guidance for the rest of this year.

We continue to see below one.

Investing to be ready for when the macro Comstock as you can see by the investments. We're doing for example on the marketing side.

With the World Cup.

So in how we are getting Arabia, where teams in different regions. How we are.

Have been evolving our studio model. So we are a company that keeps on moving.

We have just closed a company or an acquisition today.

We continue to move we don't stop because of the macro we just need to keep evolving and getting ready for when it comes back is.

By this time no.

Disability before for next year in a normal scenario would be around 80%, probably where I'll leave it down a number maybe more like 70% or or something around that number so it's a little bit lower.

But we expect that we hopefully when we have to guide for the full year next February the situation has stabilized a little bit there is some good news coming from the macro.

Inflation in the U S stabilizing or coming slightly down that was good news.

So we'll see how it goes from now until the end of the year.

So we are optimistic because blown continues to evolve continues to adapt continues to invest continues to get ready as always as if this was a normal year, but of course, we're taking some precaution, especially on the on the hiring side until we have more clarity.

Okay. That's helpful. Thank you for that and then just shifting over to margin can you just talk about some of the drivers there that are factored in that for Q outlook. It looks like a pretty healthy ramp sequentially that's implied yep.

Yes on the margin side, you know are.

Like the same throughout this year, we continue to see.

Operating margins in the 16% to 17% level. There you have different things going on you know some help on the on the maybe on the FX side Latin America at the same time.

We continue to invest heavily to get ready for next year, you know in business marketing and sales and marketing teams in coverage in new studios are adding capabilities, we're offering so.

We continue to think that.

Not just for this quarter, but also for next year that level of 16% to 17% operating income.

<unk> is a good target to have as a company.

Alright, thank you.

Youre welcome welcome. Thank you so much.

Thank you Brian Our next question comes from Walter <unk> from Santander. Walter. Please go ahead. Your line is open.

Yes.

On a per the results. Thank you for taking the question.

I would like to dig deeper on.

The sports segment in which you have announced this partnership on initiatives will allow <unk>.

Bruce.

We will execute from you how do you see these into medium term.

First off I mean, the market must be huge and powerful.

Number of potential clients.

People wanted there.

The visibility of this anyway.

We grew all quantify this.

Scott could imply annualized notch up in growth rate compared to the historical rate of Novatel.

Or is this something that we should see us encouraging.

<unk> really impacting the growth rates in the next couple of years.

Or when we social whorehouse couple of examples of clients.

Oh, that's a great question. Thank you so much.

Look I believe that what we're doing.

All of those notes four initiatives some sport related initiatives.

Has to do a lot with.

Two.

We have reached to a size, where we need to change dramatically the way, we connect and the way we position our brands.

Connected to that specific.

Idea.

This deal SaaS like a duo like a duo.

Objective on.

On the firsthand.

We are creating technology for all of these.

Institutions, where we work with for FIFA with FIFA, plus with La Liga would really attack.

With early Clippers, we're creating the intuit dome.

Technology for them and.

And on the other side, we are in some way positioning our brand our sponsors those same brands. So.

So I believe that this is a pretty large market.

We are now entertaining conversations with many other leaks with many other.

Teams that really wants to create that seamless experience in the same way we created for D. C.

And.

That is one vector, but I think that the impacts that we are not.

Expecting.

For that change in numbers moving forward. So you cannot included in the model.

The impact moving forward will be the dramatic just the World Cup and just the FIFA relationship is about.

The 2022 World Cup.

That will be watched by 3 billion people.

And then.

When you go into the future is next year Women's World Cup in Australia and that's.

The.

So 'twenty so.

17.

At World Championships and the E E.

And the esports championships from FIFA, all those things.

He will be sponsor for things on a same time develop and FIFA plowed. So.

Our position is we love to be and to position our brand, but we want to position our brand in a way we connect and we explained to the world that we are changing the technology.

For sports and for the sports that you love.

And that's the whole idea now.

This is like a massive marketing effort connected to a massive technological effort going at the same time I think it's a very nobody approach on how to position our brand.

And I believe we will have a lot of impact moving forward now are we in a position right. Now is the first time that we do this in our history. So are we in a position right now to measure that.

I'm not in a situation to say, yes, so yes.

We expect the same.

Growth that we have had no the compound.

And the company from the past.

But I hope that this will unlock many new opportunities that we didn't imagine today that we don't imagine today Sir.

Thank you very much.

Thank you so much.

Thank you Walter.

Next question comes from John <unk> from Piper Sandler John . Please go ahead. Your line is open.

Hi, good afternoon, thanks for taking my questions.

Expanding your footprint the APAC regions clearly yes.

Are there are there any other geographies or regions that are on the radar of particular interest for possible future expansion.

Kind of along the same one my follow up is.

How do you see revenue mix by geography shaking out over the next few years are there any regions that you would like.

What's your exposure.

Okay.

Okay.

I mean, we would need another planet, if you want us to keep on expanding.

But I.

I don't I don't discard that but in any case.

Just in the planet, we have we're pretty much in every continent, except for Africa.

And I.

I think that.

There will be some movement there.

At some point in the future.

But now the focus is being placed on Asia Pacific and Europe , Latin America, and North America.

In particular in Europe , we believe that expanding and having like much larger operations in countries like France or Germany.

We are we have a pretty decent operation in Italy after our acquisition of <unk>.

Extremely important things to make it happen.

If you ask me I think Europe should be larger in terms of revenue very soon.

And have like a larger share Latin America is also.

It's also a pulse to grow very fast.

Our point there is that there are two markets, which is Brazil, and Mexico that for US has been growing very nicely, but now they would have the.

The lion's share moving forward in.

In terms of growth.

And of course, North America now, we open up Canada, and we're expanding into Canada with many new things happening there.

And again Asia Pacific Asia Asia Pacific.

Australia and.

The middle East countries, including Israel in which we don't have operations yet.

Those three those.

Everything has like a pretty large market opportunity for us so.

I would say that we would focus on those four things.

Asia Pacific and Middle East.

D a.

Europe .

Europe .

North America, and Latin America, those are the fourth the fourth place.

Places, where we'll be investing heavily to make it grow.

Great. Thank you for the color there I'll now turn it back.

Thank you very much.

Thank you John .

Our next question comes from thereon ago from Goldman Sachs. Please go ahead.

Yes, hi, Thanks for taking my question can you. Please just provide some color on how the <unk> business.

Unit performer this quarter in terms of growth and how much. It represented in terms of revenue as well as whether this is already contributing positively to your margins or steel diluting the margins. Thank you.

Uh huh.

Sure. Thank you Joe and then some of it so.

In terms of a global index and we continue to invest in a number of platforms some of which are already generating revenues others are.

Kind of a friends and family.

Page, where you were.

With some customers.

Our blueprints of ours.

Finally, we have others that are just.

At this point when we look at the level of the level of.

When we look at the level of revenues that is generating right now I think you're right now we are its around two to two 5% of our revenues.

They are growing at a nice pace.

A small number in the total revenues are lower but its growing at a nice pace now in terms of margins.

By definition, all these platforms how to improve our overall margin side.

Especially when you look at the gross margin level of course.

As we are investing they bring they create.

Appreciation and amortization.

What are the growth must level they are are they.

<unk> improved our margins overall.

Understood. Thank you.

And maybe if I would think about like the portfolio of products and there is there anything in particular that is driving most of the growth or is coming pretty much from different solutions and applications.

Yeah.

Yeah.

Look Star Me App is doing great I.

I would say that.

Magnify.

Like in a pretty mature situation, where our customers are using it are consuming more everyday and that's great.

I would say that.

All the things connected to La Liga and the legal Tech has like you know the technology.

We got from that agreement is a lot of they are a lot of platforms for streaming for.

Driven by our SC to <unk>.

Many platforms that are generating revenue in a pretty clear way and it's a it's an important.

Addition to.

So the platforms and and of course, a war, which is Jenny.

Generating revenues.

More.

The differential.

Allowing us to differentiate the offer that we do for our customers.

Those are the areas, where we are.

Seemed like more expansion on more growth.

Understood. Thank you.

You're very welcome.

Yeah.

So thank you everybody and that will be the Q&A session for today with that I will now ask Martin to provide some closing comments.

Martin Please go ahead.

Well. Thank you very much Arturo we're very happy to be here today. Thank you very much for your continued support and understanding and looking forward to see you in the next quarter. Thank you.

Bye bye.

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Yeah.

Well Hello, everyone.

And welcome to our global Scarier panel.

Today, we have two special guests, we have any gasoline any cash from our New York office.

<unk> leads the design team in the U S and we're very happy to have you. So welcome Monika.

Nice to be here.

And Oscar or.

Scott is a data engineer from our Bogota office.

So very happy to have you here Oscar.

Hey, thanks, Tony might be knee, maintaining a thing.

To meet you.

It's great.

Sure.

Great to be here and meet you as well.

We're very excited about this opportunity to share your experience at <unk>, we have discussed that a little bit before and.

Sure.

What are your trajectory why do you have done so far what your experience has been.

So that people with Anglo runs and also.

Outside global lunch.

I can understand a little bit more about what we do and why careers are as important as they are to us.

And I think it's the best way to describe that is from your own experience. So maybe we can start by.

Hearing how you started at low rent and how has that experience went for you I know for both of you. It's been years at <unk>, but why don't you just start by describing maybe any color could you start your your first steps at the moment and how is that failed.

Yeah, absolutely. So thank you so much again.

So I started at <unk> about six years ago, and I came in through an acquisition of a company called we are experience.

Small service design consulting fee that had offices in the UK and in the U S.

And we got acquired I believe in 'twenty.

Dean in 2016, I am not mistaken.

So it was definitely a.

Quite a quite a journey.

To join <unk> as a company of course, when you are coming in through an acquisition there are a lot of.

Ah you know different different tensions that employees deal with.

You know.

I do think that one of the things that.

It was really appealing about low band was how culturally diverse it was.

With so many so much better than in Latam as well as in Europe , and so that to me felt very comfortable being from Latin America myself as well.

But yeah I mean, it was definitely a journey we really.

<unk>.

I guess at the beginning had.

Our struggles to integrate just like any new company does I mean, you are coming from a company of you know.

A few people to join our global company.

Globally, there's an even larger today.

But I think that we had a lot of wonderful support from from the different teams that global <unk> and <unk>.

Order to get acquainted with you now.

With our new reality of being a part of such a massive.

Company. So that's kind of kind of my my my backstory, but Ah yeah really happy.

About where where I am today, and I can share a little bit more later on.

Yeah, absolutely that's I think it's great to hear because as we were discussing before when.

When companies integrate some tensions those processes are you know they are they have their complexities and I think as we were saying it's a decision somebody else made so I think it's.

Super valuable that you shared your insights as you know you made a choice day after day and it was to to stay and to grow and probably learned met people and had access to.

A bigger universe of complex it is as well, but other interesting experience and meeting people and as you said that meeting diversity as well.

Absolutely, yes, and I think that back to another topic that we are recovering before one of the things that we were mentioning and I think Scott will talk a little bit more about that but it's.

One thing that was very surprising to me when we first joined globe and whilst the tenure.

Lot of people at <unk>.

We need to have people that have been at global for a really long time, which.

Coming from different companies, it's shocking to see someone say you know in our company for that long, especially younger.

Young people, so I think that that might be a good segue to talk Paris, sorry, because it's.

It's definitely something that I find is very unique and globe and ends and that I've seen a lot up so I think yeah. Good story.

Okay.

Absolutely so Oscar do you want to.

Share with us a little bit of your own experience.

Yes sure sure.

And I need to go back.

Some several months before joining <unk>.

In 2011, and the end of the year.

I just have rate.

Came back from northern neighbor studying English.

Hello, Thank you, okay, I need to work on our company debt.

Our required towards English so I could practice my my language and everything that I studied right.

Hi.

Going to a company by the U S E.

E Hello Kellogg company.

I asked them. Okay. Do you have some projects in English is from international clients and they say no. We don't have anything so I stayed there just for six months because I didn't want to date.

So for the Blue the practice of English.

Subject to Luke.

Yes.

Yup.

In the language.

By that time, and then lastly, Lincoln <unk> didn't exist.

Hello.

Europe's.

A page.

Yeah, Hey, let's call it that way.

They only had like two office.

I remember that duo proceedings.

Okay.

Let's update to all of them.

For one day, well for west to EM.

To go to Harlan <unk> for that.

While and come back to Colombia.

I have to ask them okay.

The company about that they say okay.

Ill provide assurance to the de.

Adding <unk>.

Same store.

Company and knowledge Chip company in Holland.

Okay interesting until I will go on conductor Holland, Nevada, and then are you still doing that off with everyone's doing okay.

Okay, let's see.

David what page of blueline, less colon and they offer a bad idea.

D of projects I've.

Oh, Okay. That's important problem to me because I, Don one or all I would like to choose I don't know if I can choose.

Turning kind of film project, Alright, So Kip I.

I just have to do the pluses without it and rebuild their company, but they weren't.

ISIL everything them and they said no.

Okay.

Always watching for that same client, even though right robin.

Okay.

A nice headaches Owen when.

When I saw below and.

I don't know if I can tell you, but I see that day.

The cooler.

And they went in that call at that time.

No.

Yes.

Dan.

Just starting.

Yes.

Okay.

Dan I pass day in the first place.

I went to take data data.

The interviewing Luann I saw they all of that whilst thing that co led by last call anyways.

Leading today's teen.

I don't know and they have different types of clients say, okay, maybe I can.

Okay.

DNI decided to choose glass.

And it happened on March one 2012, so thank you all cycles.

I'd be more than 10 years.

[laughter] along in a long time and congratulations on your 10 years.

And you were mentioning how many projects have have.

Have you been part of during this 10 years.

Around six option.

Uh huh.

And some of them were.

Only six months or Dan we're one year two years.

And the last one that has been the longest one.

I have been in this project for three years.

Oh, Wow, well, yes, so differing types of project different cadence of experience.

Fortunately they had the opportunity to travel that I like a lot uh-huh I didn't ask that from happening soon.

When I arrived.

It happened Fortunately.

And yes, I would like to keep a having this kind of experience.

More especially since we have been.

At home from a very very long time.

I mean, they experienced to watching or that people even in the office here in the content or other content casino Nathan.

Really fun for me amazing.

What about you and what was it like when you started six years ago and how have you seen that evolution in the project and the different experiences that you that you have had.

Yeah.

That's certainly also been in.

Many projects are projects on the design side of things often tend to be a little bit more fast.

Fast paced I guess, depending on the project.

Thing from at tack to financial services too.

Retail we've done.

<unk> participated in a lot of these projects I think that one.

One thing that I that I have.

Told people when they asked me about <unk> and about you know the variety and what a career path look like in <unk>.

And this is something that I was talking to a friend of mine that also came through.

At the same acquisition that I'd add is that.

Well then have kind of like this a choose your own adventure type of feel to add and I think that what I try to tell people when I'm hiring.

New new folks for the team at that.

Yeah.

You have to be very proactive outreach as proactive as we want to be about the path that you want a globe band and the type of project that you want to work you'll always have the support that you need.

Hopefully from your leadership, but we I think we gave a lot of autonomy to people to choose the type of path that they want to follow.

And I think that being such a big company and having so many clients. That's another thing that was very impressive to me when I first started at globe and did that.

Kind of you named the type of client and global is working with them just on capacity.

So there's really there's really a lot of agency to kind of create your own path and work in the type of projects that you find interesting depending on you know.

Whether it scales you want to use as well as what industry you want to.

You're interested in as well.

Yeah that that's amazing and I think it's something that when we talk to glory from different countries are different studios are different expertise fields of expertise, we all agree on that.

International flavor of the projects our clients the ability to choose your career path or to change internally.

Or two.

<unk> mean that we want people to embrace.

There is there are projects and to be passionate about a project or or a cause or could be technology design. It can be.

Nation or any of the any of our fields of expertise.

We are also discussing before how theirs.

This very special something about <unk>.

That regardless of the country, we are regardless of their location or that the field or studio we belong to <unk>.

Or area in my case.

There is.

Theres always this secret sauce that glow on task.

What is that for you how do you perceive it to your own experience what would you say that that feels how does that resonate to you.

Yeah.

Huh.

I think it goes back to what I was mentioning before I think it.

Sure.

Every team is so different every project is it.

So different and I think it's really.

Yeah, I'll, just kind of choosing the type of experience that you want to have and seeing what kind of impact you can have and each team and I think that what the secret sauce with H M is.

I guess the trust that we put in people to create that experience and the autonomy that we give people too to.

Use their skills differently in different projects then too.

The experience that they've gained working in one industry to their next project in a completely different context, so I think that that really.

It's what has made it very special for me and what I've seen also has worked really well for people in my team.

That's great.

For me the secret sauce has different ingredients.

And one.

Is that.

They the commander of your Destiny.

A.

Mike Please.

He joined <unk> developed.

And I was working with Dr. David but for similar ideas.

Okay I continue what gives us that youre developing nothing but.

Then we'll have some presentations from <unk> studios at that time.

The last half.

New studio called Big data.

Alright, I remember <unk> Nagel.

During the presentation, I said, Oh, that's new and interesting.

Eight meters.

<unk> seen that I wouldnt I needed.

Technical switch.

Technical change. So you started studying contact with her I spoke with all their people new people in the studio.

I took some trainings and then I started to work in some projects.

So call it that that engineered.

But I can hardly at all yet so I took the exam studied more and then I did they switch to that new world.

This is just one part of the things that you can lean on you can see there obviously, if you went right.

When I took.

That erosion I accepted to ask to be more projects has a leader right.

Ann.

I had the chance to really get some projects Fortunately.

Okay.

One lead need two days two days past that.

That's how that Pat engineered or does that take.

The project came on so I wasn't in other projects.

If more than once.

Chocolate ones and then a.

I joined to the last project.

Well.

There was nothing to do.

Basically there was nothing at the beginning we have to build it from scratch as Scott sorry.

That project is great news.

Is that help me as well to understand how our project is consistent from the beginning and you realize how their things.

<unk> done when you don't have anything.

And.

My leaders have told me Okay, you all day, one to the needs to proposal <unk>.

Not only that.

Not the guy that receives that is dose that is being to do that okay that account.

Please do does he know I am the person that needs to tell them what to do that.

<unk> made a big difference when you can do that as well because basically the ADL drilling as well as to be part of your clients, but it is okay.

We did it.

The people that we the company that had towards and Thats not it.

Big difference.

Alright ingredient in our secret sauce is that.

But are you do you have people that you work with people from different countries right.

<unk>.

Hard to find it in a low kind of a company that is gone is that that person is in Indiana and then is that the total.

Create branches you said I don't know if this is a all malls.

It's a fact that you need to work with people from other countries.

And this really cool because you always have lagged.

The yolks regarding Hayward that have won many meaning Colombian and have another meeting in Madison Dana for example.

Turn opportunities that where the people.

Can go to the office and <unk> data.

He says you can work from there.

And yes.

Lamb to about beliefs from people from these places and 19 that being Kang.

Uh huh.

<unk> strong culture, and a part of the company.

Right.

So it is difficult to find someone that is a nice thing.

[laughter] yeah.

I, especially loved that last part because I think it's it's true it's what.

What makes me want, especially the people and that culture.

That you know your influence even easier and it is important to your analysis in Madrid. Your analysis in New York in Brazil, you know you're at low end because people have that that pattern that you just mentioned Oscar so.

I think it's amazing that you're sharing your own experiences and Ah.

Is there something you would like for the future.

Just a I think we need to be brief but is is there something that you would like or.

That's something that you envision or that you think this is something I'd like to try out or I would like to continue doing more of a certain thing what is your vision there.

Yeah.

Sure.

Yeah, I think that.

One of the things that we.

We want to continue to do in the U S is to bring that culture that we've seen.

So prominent in Latam in our globe and started I think we want to.

Give people visibility that that is also.

Something that happened here right and.

Regardless of the different studios that are a part of this culture I think that what you've mentioned is global has a lot of extremely talented extremely talented people.

Extremely kind people all over the globe and that's something that.

It makes the company very unique.

So we're trying to make.

Make that a little bit more visible here and I think that my.

My part in that through design it is too.

To start kind of building a culture, where design is at the core of what we what we do and how we.

Positioning ourselves at globe and two to people that want to come work for us. So that's.

That's kind of where are they.

Very long winded way of answering your question.

Kind of what I see in the future is giving more visibility here in the U S of the wonderful culture and the wonderful tally.

Talent that we have here at Goldman.

Amazing Amazing and Yours is you are the ones, making a beautiful whatever you do you from the design team make it beautiful so that's I.

I think at a beautiful.

Euro is of course definitely there's no way you couldn't be at the core.

So.

Hi.

I love it when she said so thanks.

<unk> what about you.

Okay in mitral and in vitro or Tam is that M. S.

Hello.

Uh huh.

The projects that are currently working on a tour H M. A more mature level in terms of data and since I have been some yes in that field by the I know that you still don't know.

So I still need to learn more.

An update these new knowledge to the project.

And then expand that knowledge to other projects.

<unk>.

And either be nimble on them directly or has been order levels to EM.

To continue the practice teams.

Is hovering Davis Dean.

How can I say, but I think again.

Because everybody on the progress depends on data.

And it has so much power and you have so much difficult D. C has so many different technologies.

So many things to them.

We'd want to keep learning.

But anyways.

Applying this knowledge and maybe having a pool of leaders from different projects. So I can hit them and guide them as well.

Of course I am.

Continue.

Expanding.

The knowledge on the culture of data flow.

For the claims.

So I loved what you both shared because he'd talk talk's speaks about.

Generosity of making others, they're civil and also continued learning and expanding that knowledge and I think that's one of our also one of our characteristics that we were just mentioning so thanks.

Thanks for everything you shared I think where.

We're on time.

So thank you so much for being here for being present for sharing.

Your stories and for the generosity that you're both brought to the table.

And.

And it was also very.

You know very well.

The idea was that this was going to flow. It says that it wasn't going to be a structured conversation that it flowed. So I appreciate it I hope that globus and non globally, who want to become globus.

Well enjoy your experience and benefit from it.

So.

Thank you very much for being here and I want to say.

We will continue also after this interview listening to the amazing stories about dover's from EMEA and India in the prerecorded interview, that's coming next so thank you very much for staying tuned and grade meeting you Oscar and Anika. Thank you very much. Thank you Mr.

Thanks to you and you would like.

Right.

Welcome to blow one's career months panel for EMEA and India.

Today, we're going to take a deep dive into these two blower stories and learn about the career possibilities you can find here a global Inc.

I'm glad to introduce you to the Enel Fernandez Roca experienced director from Globe in Spain.

Ravi Rahmani technical director from low end to UK.

And Synalloy Kulkarni Parker VP of technology from global to India Welcome everyone.

Now, let's go to the questions.

Yeah.

How did you start to your career here at <unk>.

I think back in 2014 and the technical Remington.

And having final savings in lease maintenance and meeting.

The data points that may be also solution architect.

Meaning the capacity Yang.

Good evening.

And going to an end.

Hum.

Central has been deemed couponing has been doing a different playing the same growing.

Connecting with different engines and more recently thanks, Sean.

So I started at <unk> in early 2013 at the time in Argentina, UX was sort of a new merchant topic. So there wasn't a lot out there in terms of either learning or or work opportunities.

I was contacted by by Great people and a design studio and they invited me to join as well as to contribute on building work within a growing <unk> discipline.

And it was a match made in Heaven for me was the opportunity.

Looking for four years to specialize fan growth.

Okay.

I joined <unk>, a couple of years back.

Our struggling on a holiday.

And I had a message from Goldman on Linkedin.

What kind of previous shop, so I decided to speak to the globe.

Our talent pool.

And then I subsequently met a couple of movies from the Tech team.

And yes since the <unk>.

EBITDA was quite different than the obvious consulting company out there in the market.

A little bit crazy, a little bit different.

Uh huh.

I felt there was something different that I want to go for and I decided to join globally.

What was your journey like so far and in which role or area do you see yourself in the next few years.

So my first projects, where with a large U S telco.

And then shortly after that I was entrusted with the role of design and you actually need for an airline.

It was there that I truly starting working with diapers.

In different parts of the world and I loved it I never look back.

From there on I working projects for various sectors.

Government financial services personal care insurers.

I was able to travel the world learning from others with each passing project and always being challenge to be a better professional.

Eventually I had the opportunity to relocate to Spain, where I'm incredibly yeah.

And today I wear several hats I leave you add some design for our European and Middle Eastern operations.

Responsible for global relationship with apply and where we have over 100 blowers.

And I'm in charge of creating solutions for our new business opportunities for southern Europe .

Looking into the future what I'd like to do is to be able to provide opportunities and help people to grow professionally.

Whatever shape or form I'm able to I.

I feel I was very lucky to you that they were people.

Who believed in me and enabling Kansas to learn and develop my career.

And I feel is now my responsibility is to say.

Lately I am beginning to focus that growth around breaking down silos of different types discipline gender geography hierarchy.

I feel very privileged that my professional training involved research.

And that hadn't been learn ways to minimize bias. So I hope that helps insurers to help others do the same.

Okay.

Being a technology director.

Multiple hats.

The majority of the time to really what do what it takes to deliver value to a project to a client or solar challenge.

But but I absolutely low designing.

Building.

<unk> architecture things on piece of paper.

Leading the way through the technical strategy and other strategy.

To make it happen, Eli and see delivering value for our projects for our clients and that's what keeps me happy.

Yeah.

I worked with mature.

Rajeev industries in the last two years.

Whereas e-commerce platform for a car manufacturer.

Our public sector in the UK are now more recently financial services, which are absolutely loving.

And I want to continue doing what I'm doing at the same time grow.

And sort of bring more innovation to the table.

We have a very ambitious road map in the U K.

And absolutely delightful to be part of this roadmap to keep growing and delivering value for our clients in the UK.

Sure.

Yeah.

I started my journey.

So very interesting engagement.

We had to bid.

<unk> new platform for us women in India, who would help it would help them to build their career paths.

Someone who is not able to get the main cash effective house. They are looking for such kind of.

All in one platform that would help them to write in English and provide some guidance on what God. He additional skus what are the and the news what kind of course essential on so many amazing platform.

One of the customer.

Customized net.

It will inspire a woman to decide on the cardiac would help them build their success successfully jetblue and they've got to get a sense for one after that I took care of NOLA different engagements into this thing to me was the need to come to the game E Commerce Bank Inc.

Or even on the call and engineering St.

Again, many might have been had so I think scalable platform studio in India that he had different I will say technology.

<unk> been taking piano.

Getting new people, leading capacity taking care of different innovations in the GDP, which include economic.

Various initiatives and on diversity and inclusion membership and so on so it has been quite exciting.

Then you'll see.

The organization is growing youre exactly and you have different set of challenges.

To be able to scale.

Group. So it has been quite interesting to find solutions and look for a different operation at the same time, keeping the same culture.

Indeed.

Which was your favorite projects so far.

And what kind of projects are you looking forward to experiencing here at globe. So every project. So far have had an aspect of learning which reaches a technologist quite keep me and that's been fantastic. So.

I truly enjoyed every single piece of work can have sort of worked with and more than that I would say that.

Being part of such a vibrant team globally.

We learned something from every single flavor I've worked with and interact with one way or another.

And that's what I love about living.

Going forward I really want to deliver.

Delivering the reinvention is as we say for Florida.

Projects and clients across the globe.

And keeping that more and more bringing more innovation on the table and just keep delivering the value that we've been doing for over the last few years.

Going forward I would like to continue to focus on the growth.

Avs scaling them, Dave, Yes, I didn't move.

In an organization, it's important that ideally the Hamlin our culture.

Asked to HMA globally, we maintain the global panic, yet able to address their challenges.

To inspire them to next day delivery.

Great.

Industrial.

The quality in terms of the timeline echelon at the same time it takes them and then development.

So we are working on different training programs different initiate it when the practices trend, which would help our renewable sticky upskilling different skins and.

I didn't define different strategy that you would help us to scale and you know.

Continuing with this group.

Okay.

So my favorite product and have to be the one I mean, right now leading tools.

There is financial entities around the world.

And the leasing.

Due to the people and ball.

I work with an amazing group of leaders, whom I've had the great fortune of all of seen them grow into who they are today and I feel very proud to see them pass on a culture of providing opportunities are professional with them.

Dropping everything.