Globant Revenue Soars, As Demand For Digital Services Rise

Globant has reported $340 million in revenue for the third quarter ending September 30, a staggering 65% increase year-over-year, as the Argentinean IT provider capitalizes on the growing demand for digital transformation services in the Americas.

Martín Migoya, the company’s co-founder and CEO, has delivered a bullish outlook in his recent call with market analysts. “We expect to close this year with over 56% annual revenue growth, the highest in our history as a publicly-traded company.”

Nearly 40% of its revenue is coming from ten top customers, according to the company’s statement. And the United States has remained the major source of clients, accounting for 60% of its revenue.

As its revenue grows, so does the headcount. Globant added 2,223 IT professionals to its payroll during the three months period. Some analysts expect the company’s total workforce to reach 25,000 by the end of this year.

In recent months, Globant is establishing digital studios one after another in an apparent bid to sharpen its expertise in product design, one of the high revenue-yielding domains in the IT services industry.

Weeks ago, Globant bought Atix Labs, a blockchain solutions maker with operations in Argentina, Uruguay, and the United States. In addition, it purchased a BPO provider called Navint with around 130 employees in the US and UK.

Migoya has informed investors that Globant had recently opened an innovation center in the Uruguayan city of Maldonado, with plans to hire 150 professionals.