Globant Q1 Revenue Tops Guidance at $607.1M; AI ARR Hits $32.8M
Globant reported Q1 revenue of $607.1 million, topping the high end of guidance despite a 0.7% year-over-year decline, and generated $36.1 million in free cash flow as IFRS EPS rose to $0.85 from $0.68. AI Pods ARR hit $32.8 million and a $125M buyback was announced.
1. First Quarter Financial Results
Globant reported Q1 revenue of $607.1 million, down 0.7% year-over-year but above guidance, with IFRS diluted EPS of $0.85 compared to $0.68 a year earlier, non-IFRS adjusted EPS of $1.50, and free cash flow of $36.1 million.
2. AI-Native Transformation
AI Pods annual recurring revenue reached $32.8 million as of March, reflecting the company's pivot to an AI-native services model and record Revenue Per Head efficiency gains.
3. Share Repurchase and Outlook
The company completed $50 million in buybacks in Q1, launched a new $125 million repurchase program, and issued Q2 revenue guidance of $610 million to $616 million, with full-year 2026 revenue forecast at $2.462 billion to $2.508 billion and non-IFRS margins of 14% to 15%.