Globant S.A. (NYSE:GLOB) Q3 2022 Earnings Call Transcript

Diego Tartara: I think you pretty much covered it. I just want to add that I think there is currently sort of a mixed 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 platform accelerators are great in terms of achieving great time to value, but also allowing companies such as loan, which specializes on implementations to create amazing experiences, and that’s how we’re aligning and partnering with these platforms on every specific sector. Just as an example of that, eWave got us a great 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 loan here is more end-to-end capabilities, but always conserving the DNA of loan, which is reinventing industries, creating the best experiences connecting with clients.

Arturo Langa: So our next question comes from Moshe Katri from Wedbush. Moshe, please go ahead.

Moshe Katri: 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 I’m assuming you’re having some discussions with the various units that you’re dealing with, but any color here could be helpful.

Martín Migoya: Yes. We believe and we are positive about the long-term relationship we have with them, and we see the 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 feel that the relationship will keep on expanding in different areas, in different places. And what we see is parks being very robust in terms of activity. On the other side, on the direct-to-consumer the 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 Disney, too, and next quarter, of course. So this is what I’m seeing right now. I don’t know what’s going to happen in the future with macroeconomic situation. But I believe Disney and our relationship with them is great and the company overall is in very good shape.

Juan Urthiague: If I can add something there, Moshe. If you look at our growth with this in this quarter was very solid, 25% year-over-year. But also if you look at the growth to the end. So all the rest of our customers, the level of growth was also very solid. So we go to top 10 accounts or just account for 34% of our revenues right now, coming down from almost 40% a year ago. So the point I’m trying to make here is that sometimes growth may be driven by some of the top accounts, including Disney. Other times, we have a great portfolio of customers that are maybe in the 11 to 40, 11 to 50, that also can contribute to that growth. The fact that now top 10 is a smaller number, also gives us the flexibility to grow in multiple parts of the organization.