Globant SA (GLOB) 2023 Q2 法說會逐字稿

Good day, and welcome to Globant's Second Quarter 2023 Earnings Conference Call. I'm Arturo Langa, Head of Investor Relations at Globant. You've just seen our latest spot showcasing our experience in artificial intelligence for today's market. (Operator Instructions) Please note, this event is being recorded and streamed live on YouTube.

美好的一天，歡迎參加 Globant 2023 年第二季度收益電話會議。我是 Arturo Langa，Globant 投資者關係主管。您剛剛看到了我們最新的廣告，展示了我們在當今市場的人工智能方面的經驗。 （操作員說明）請注意，該活動正在 YouTube 上進行錄製和直播。

By now, you should have received a copy of the earnings release. If you have not, a copy is available on our website, investors.globant.com. Our speakers today are Martin Migoya, Co-Founder and Chief Executive Officer; Juan Urthiague, Chief Financial Officer; Patricia Pomies, Chief Operating Officer; and Diego Tartara, Chief Technology Officer.

到目前為止，您應該已經收到了收益發布的副本。如果您還沒有，可以在我們的網站 Investors.globant.com 上獲取副本。今天我們的演講者是聯合創始人兼首席執行官 Martin Migoya；胡安·烏蒂亞格，首席財務官；帕特里夏·波米斯，首席運營官；和首席技術官迭戈·塔塔拉（Diego Tartara）。

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 answer to some of your questions. Such statements are subject to the risks and uncertainties as described in the company's earnings release and other filings with the SEC. Please note that we follow IFRS accounting rules in our financial statements.

在開始之前，我想提醒您，我們今天電話會議中的一些評論可能被視為前瞻性陳述。這包括我們的業務和財務前景以及您的一些問題的答案。此類聲明受到公司收益報告和向 SEC 提交的其他文件中所述的風險和不確定性的影響。請注意，我們的財務報表遵循 IFRS 會計規則。

During our call today, we will report non-IFRS or adjusted measures, which is how we track performance internally and the easiest way to compare Globant to our peers in the industry. You will find a reconciliation of IFRS and non-IFRS measures at the end of the press release we published on our Investor Relations website announcing this quarter's results.

在今天的電話會議中，我們將報告非 IFRS 或調整後的衡量標準，這是我們內部跟踪績效的方式，也是將 Globant 與業內同行進行比較的最簡單方法。您將在我們的投資者關係網站上發布的宣布本季度業績的新聞稿末尾找到 IFRS 和非 IFRS 指標的調節表。

I'd like now to turn the call over to Martin Migoya, our CEO.

我現在想把電話轉給我們的首席執行官馬丁·米戈亞 (Martin Migoya)。

Thank you, Arturo. Good afternoon, everyone. I'm Martin Migoya's Digital Twin. The real Martin, Diego, Pato and Juan will join you afterwards for the Q&A. We're speaking to you today from Sydney, where we have come to connect with our local team as we continue our expansion in new markets as well as to meet clients and partners at the FIFA Women's World Cup, of which Globant is a proud global sponsor. For transparency, there will be a notice at the bottom of the screen every time we appear or use any AI engine. We are happy to be with you again to discuss another great quarter. With our strong fundamentals, expanding array of solutions and platforms and greater leverage of our global delivery network, we aim to continue to outpace our industry.

謝謝你，阿圖羅。大家下午好。我是馬丁·米戈亞的數字孿生。真正的馬丁、迭戈、帕托和胡安隨後將與您一起進行問答。我們今天在悉尼與您交談，我們來到這裡與當地團隊建立聯繫，繼續拓展新市場，並在 FIFA 女足世界杯上與客戶和合作夥伴會面，Globant 是其中值得驕傲的全球客戶贊助。為了透明起見，每次我們出現或使用任何人工智能引擎時，屏幕底部都會有一個通知。我們很高興再次與您一起討論另一個偉大的季度。憑藉我們強大的基礎、不斷擴大的解決方案和平台以及對全球交付網絡的更大影響力，我們的目標是繼續超越行業。

In Q2, total revenue was $497.5 million. It is the highest quarterly revenue in our history, representing 15.9% year-over-year growth and 5.3% quarter-over-quarter growth. This has been made possible by the comprehensive relevance, scope and depth of our offering, combined with the expertise, creativity and dedication of our global. We're seeing strong sequential growth into the second half of the year, providing us with encouraging signs as we start thinking about 2024. We are also optimistic about the growth of our addressable market, estimated to reach up to $8.9 trillion by 2030. According to the report, digital transformation market forecast, 2023, 2030 released by Fortune Business Insights this year.

第二季度總收入為 4.975 億美元。這是我們歷史上最高的季度收入，同比增長 15.9%，環比增長 5.3%。我們提供的產品具有全面的相關性、範圍和深度，再加上我們全球員工的專業知識、創造力和奉獻精神，使這一切成為可能。我們看到下半年出現強勁的環比增長，這為我們開始思考 2024 年提供了令人鼓舞的跡象。我們對潛在市場的增長也持樂觀態度，預計到 2030 年將達到 8.9 萬億美元。報告顯示，財富商業洞察今年發布了2023年、2030年數字化轉型市場預測。

At Globant, our vision is to provide the best AI and digital transformations in the world, and we want to do it through reinventing our technology professional services industry. We work every day to ensure our clients stay relevant to the latest technologies, constantly innovating the way we provide these solutions, while being kind to our planet, to our peers, to humanity, and to ourselves. Clients that choose Globant are not only picking an AI and digital partner to fulfill their dreams, but innovation itself a new way to create and build technology with transparency and absence of nonsense and at the same time maintaining a commitment to the environment and society. It's a unique culture.

在 Globant，我們的願景是提供世界上最好的人工智能和數字化轉型，我們希望通過重塑我們的技術專業服務行業來實現這一目標。我們每天都在努力確保我們的客戶與最新技術保持同步，不斷創新我們提供這些解決方案的方式，同時善待我們的星球、我們的同行、人類和我們自己。選擇 Globant 的客戶不僅選擇了一個人工智能和數字合作夥伴來實現他們的夢想，而且創新本身是一種透明、不廢話地創造和構建技術的新方式，同時保持對環境和社會的承諾。這是一種獨特的文化。

Let me explain to you some of the innovations that separate Globant from our competitors. First, our inverted organizational chart and the autonomy of our agile pod, each with its own name, charter, mission and proud identity as a team. It's the job of our whole management to support them in their success. Second, our studios. These deep pockets of expertise have been sent to our value offering on the latest technologies and their applications to particular industries. Our array of studios has grown over time as we widen the scope of our services. To improve the synergy, we have now organized them into 4 studio networks; digital, reinvention, enterprise and create. Doing so will foster better elaboration align our studios as we continue to scale.

讓我向您解釋一些使 Globant 與我們的競爭對手區分開來的創新。首先，我們倒置的組織結構圖和敏捷團隊的自主權，每個團隊都有自己的名稱、章程、使命和自豪的身份。支持他們取得成功是我們整個管理層的工作。第二，我們的工作室。這些深厚的專業知識已為我們提供有關最新技術及其在特定行業的應用的價值產品。隨著我們服務範圍的擴大，我們的工作室數量也在不斷增加。為了提高協同效應，我們現在將它們組織成4個工作室網絡；數字化、重塑、進取和創造。隨著我們不斷擴大規模，這樣做將促進我們的工作室更好地協調一致。

Third, the company wide use of AI, both for our internal processes and in the solutions we create. And finally, our platforms. AI-powered software products that solve true challenges of our industry. In the AI space we continue to leverage our expertise to expand services in order to meet the increasing demand. Late last year with the widespread interest in generative AI caused by new tools such as ChatGPT, we started to engage with our clients to help them embrace this technology quickly.

第三，公司在內部流程和創建的解決方案中廣泛使用人工智能。最後是我們的平台。人工智能驅動的軟件產品可以解決我們行業的真正挑戰。在人工智能領域，我們繼續利用我們的專業知識來擴展服務，以滿足不斷增長的需求。去年年底，隨著 ChatGPT 等新工具引起人們對生成式人工智能的廣泛興趣，我們開始與客戶合作，幫助他們快速接受這項技術。

Our teams work closely with many of them to create a comprehensive map of initiatives to reinvent their business. Then we translated these initiatives into proof of concepts that could be applied to achieve specific KPIs and expand their businesses. Now many of these are becoming real-life solutions that can be scaled globally and implemented company-wide.

我們的團隊與其中許多人密切合作，創建了一個全面的計劃圖，以重塑他們的業務。然後，我們將這些舉措轉化為概念驗證，可用於實現特定 KPI 並擴展業務。現在，其中許多正在成為現實生活中的解決方案，可以在全球範圍內擴展並在公司範圍內實施。

In particular, we see 2 types of solutions. First is what we call Augmented knowledge, the capability to interact with unstructured data in a conversational way. Skilled professionals such as those in law or in finance, will be able to access large amounts of data and quickly interpret it, so that they can make better, more informed decisions. And second is a field we call Converse AI, which allows an end user to interact with the transactional system in a conversational way.

特別是，我們看到了兩種類型的解決方案。首先是我們所說的增強知識，即以對話方式與非結構化數據進行交互的能力。法律或金融領域的熟練專業人士將能夠訪問大量數據并快速解讀數據，以便他們能夠做出更好、更明智的決策。其次是我們稱之為 Converse AI 的領域，它允許最終用戶以對話方式與交易系統進行交互。

There are many relevant applications that can speed up the way we connect with our favorite consumer brands. For example, when booking a cruise, you may be able to organize itineraries with the help of an AI that intuitively offers and even scheduled services that matter to you, while also handling queries for changes or refunds. I'm happy to see that our expertise in the field is also being recognized worldwide.

有許多相關應用程序可以加快我們與喜愛的消費品牌的聯繫方式。例如，在預訂遊輪時，您可以在人工智能的幫助下組織行程，該人工智能直觀地提供甚至安排對您重要的服務，同時還處理更改或退款的查詢。我很高興看到我們在該領域的專業知識也得到了全世界的認可。

In early June, IDC named Globant as a leader in AI in the IDC MarketScape for worldwide artificial intelligence services 2023, affirming our commitment to value-driven services through our comprehensive AI journey. We will continue to expand and share our offering on AI applied to industries and different use cases in our portfolio called MINDS. I invite all of you to learn more about it by visiting ai.globant.com.

6 月初，IDC 在 IDC MarketScape 2023 年全球人工智能服務中將 Globant 評為人工智能領域的領導者，確認了我們通過全面的人工智能之旅提供價值驅動服務的承諾。我們將繼續擴展和分享我們應用於行業的人工智能產品以及我們稱為 MINDS 的產品組合中的不同用例。我邀請大家通過訪問 ai.globant.com 來了解更多信息。

Now some news about our studio networks. I'll begin with our enterprise studio network. It has been exciting to see how our digitally native approach makes a difference in how our clients embrace large platform providers like Salesforce, SAP, Oracle and even the hyperscalers. All of them have been moving at a rapid pace to embrace new technologies. Our combined expertise in these core technologies with our understanding of emerging ones, has allowed us to be the partner of choice for our clients as they incorporate new multi-technology solutions.

現在有一些關於我們工作室網絡的新聞。我將從我們的企業工作室網絡開始。看到我們的數字原生方法如何改變我們的客戶接受 Salesforce、SAP、Oracle 甚至超大規模提供商等大型平台提供商的方式，我們感到非常興奮。他們所有人都在快速擁抱新技術。我們將這些核心技術的專業知識與對新興技術的理解相結合，使我們成為客戶在採用新的多技術解決方案時的首選合作夥伴。

Along this line, after announcing Google Cloud Studio on last earnings call, we have just publicly share the creation of 2 new studios. Amazon Web Services and Microsoft. Industry analysts see a potential growth up to over $1.6 trillion by 2030 in cloud computing. So with these 2 new studios, we will be complementing our offering to better serve organizations worldwide. Diego will expand on this topic later in the call.

沿著這條線，在上次財報電話會議上宣布推出 Google Cloud Studio 後，我們剛剛公開分享了 2 個新工作室的創建。亞馬遜網絡服務和微軟。行業分析師預計，到 2030 年，雲計算的潛在增長將超過 1.6 萬億美元。因此，通過這兩個新工作室，我們將補充我們的產品，以更好地為全球組織提供服務。迭戈將在稍後的電話會議中詳細討論這個話題。

I'm also glad to see how Globant Create consolidates as another of our studio networks. In recent months, we brought our capabilities in digital marketing, sales, branding and performance into this creative powerhouse that leverages AI to improve how organizations can engage with audiences. Growing our offering here has been instrumental in widening our relationships with our clients as we offer them even more services. Globant Create got its first spotlight recently when we presented it at the Cannes Lions International Festival of Creativity. It was a unique opportunity to introduce our new studio and at the same time, celebrate Globant's first Silver Lion, won by our commercial 1,000 slides. If you haven't seen it yet, I encourage you to watch it on our YouTube channel.

我也很高興看到 Globant Create 如何整合為我們的另一個工作室網絡。近幾個月來，我們將數字營銷、銷售、品牌和績效方面的能力融入到這個創意強國中，利用人工智能來改善組織與受眾互動的方式。在這裡擴大我們的產品範圍有助於擴大我們與客戶的關係，因為我們為他們提供了更多的服務。最近，當我們在戛納國際創意節上展示 Globant Create 時，它​​首次受到關注。這是一個獨特的機會來介紹我們的新工作室，同時慶祝 Globant 的第一個銀獅獎，由我們的 1,000 張商業幻燈片贏得。如果您還沒有看過，我鼓勵您在我們的 YouTube 頻道上觀看。

And now to our platforms. I'm enthusiastic to see that the portfolio of Globant X continues to grow, accelerated by AI and Blockchain, we have now evolved each product from a stand-alone specific technology into more integral solutions. Our portfolio includes platforms like Augoor, StarMeUp, MagnifAI, Sportian, the evolution of LaLiga tech and GeneXus.

現在我們的平台。我很高興看到 Globant X 的產品組合在人工智能和區塊鏈的加速下不斷增長，我們現在已經將每個產品從獨立的特定技術發展為更完整的解決方案。我們的產品組合包括 Augoor、StarMeUp、MagnifAI、Sportian、LaLiga tech 和 GeneXus 等平台。

Let me share some exciting updates about this last one. What was once a low-code development platform, has now grown into a suite of AI development tools. GeneXus now applies AI not only to support development, maintenance and evolution of any given solution, but it also enhances the user experience of the solutions delivered. By incorporating this innovative array of tools, companies can swiftly integrate AI to their systems, operations, processes and workflows, agnostic to any programming language. GeneXus can now deliver AI assistance that can leverage clients' data set and business processes to craft exceptional customer experiences.

讓我分享一些關於最後一項的令人興奮的更新。曾經的低代碼開發平台現在已經發展成為一套人工智能開發工具。 GeneXus 現在不僅應用人工智能來支持任何給定解決方案的開發、維護和演進，而且還增強了所交付解決方案的用戶體驗。通過整合這些創新工具，公司可以快速將人工智能集成到他們的系統、操作、流程和工作流程中，而不受任何編程語言的影響。 GeneXus 現在可以提供人工智能幫助，利用客戶的數據集和業務流程來打造卓越的客戶體驗。

Additionally, it enables company leaders to effortlessly sift through intricate data to make faster, more informed decisions. The use cases are endless. The vision of GeneXus is to simplify and future-proof software development. That's why we now ensure that every application delivered by GeneXus can seamlessly integrate with LLMs in a monitored and cost-effective manner.

此外，它還使公司領導者能夠輕鬆篩選複雜的數據，從而做出更快、更明智的決策。用例是無窮無盡的。 GeneXus 的願景是簡化且面向未來的軟件開發。這就是為什麼我們現在確保 GeneXus 交付的每個應用程序都能以受監控且經濟高效的方式與法學碩士無縫集成。

Year after year, we continue to live up to our foundational vision of expanding all over the world. Doing so has been an engine for growth with our clients. As we expand both our delivery and client networks globally, we can draw on these capabilities to give each particular client a customized delivery network that best caters to and surpasses their transformational goals.

年復一年，我們繼續實現我們在世界各地擴張的基本願景。這樣做一直是我們與客戶共同成長的引擎。隨著我們在全球範圍內擴展我們的交付和客戶網絡，我們可以利用這些能力為每個特定客戶提供定制的交付網絡，以最好地滿足並超越他們的轉型目標。

Globant now has offices in 70 cities in 30 countries, including 8 new markets that opened in the past 12 months. Related to this expansion, we have recently announced a significant investment in a 5-year strategic growth plan for Latin America, the region where we were born and the main focus of our delivery model. This investment will be dedicated to 3 main verticals: AI development, product offering and the expansion of our local teams.

Globant 目前在 30 個國家的 70 個城市設有辦事處，其中包括過去 12 個月內新開設的 8 個市場。與這一擴張相關的是，我們最近宣布了一項針對拉丁美洲的 5 年戰略增長計劃的重大投資，拉丁美洲是我們的誕生地，也是我們交付模式的主要重點。這項投資將致力於 3 個主要垂直領域：人工智能開發、產品提供和本地團隊的擴展。

We are opening a new center of innovation in Sao Paulo, Brazil. From there, Globant subject matter experts will research AI and other top technologies like Quantum Computing to create practical applications to support our clients. This center will also be responsible for building new AI applications to improve Salesforce projects, one of our biggest strengths in the Brazilian market. We will continue investing in the development of our own products, such as Augoor, MagnifAI, StarMeUp, Sportian and GeneXus. Our focus is to keep leveraging AI to accelerate software development and improve digital experiences increasing our go-to-market strategy and providing better outcomes for our clients.

我們將在巴西聖保羅開設一個新的創新中心。從那裡開始，Globant 主題專家將研究人工智能和量子計算等其他頂級技術，以創建實際應用程序來支持我們的客戶。該中心還將負責構建新的人工智能應用程序，以改進 Salesforce 項目，這是我們在巴西市場的最大優勢之一。我們將繼續投資開發自己的產品，例如Augoor、MagnifAI、StarMeUp、Sportian和GeneXus。我們的重點是繼續利用人工智能來加速軟件開發並改善數字體驗，從而增強我們的市場戰略並為客戶提供更好的結果。

Lastly, we will keep expanding our regional teams by adding 20,000 professionals in the region during the next 5 years. Our strong presence in more than 10 Latin American countries will continue to be a focus of our talent growth. In parallel, we are proud to say we have commenced operations in Portugal. We see great potential in that country to become a new talent hub for Globant to support our European expansion. We also look at Portugal as an interesting geography for business development, with several companies looking to transform their organizations and capitalize the country's solid economic growth during the last years.

最後，我們將在未來 5 年內繼續擴大我們的區域團隊，在該地區增加 20,000 名專業人員。我們在 10 多個拉丁美洲國家的強大影響力將繼續成為我們人才發展的重點。與此同時，我們很自豪地說我們已經開始在葡萄牙開展業務。我們看到該國具有成為 Globant 新的人才中心以支持我們在歐洲擴張的巨大潛力。我們還將葡萄牙視為商業發展的一個有趣的地理位置，有幾家公司希望改造其組織並利用該國過去幾年穩健的經濟增長。

I'm pleased to announce that on July 20, we completed the incorporation of Pentalog to the Globant family. With this, we welcome 1,300 new Globers in France, Romania, Moldova, Mexico, Vietnam and the U.S. This expansion strengthens our presence in Europe, home to 80% of Pentalog's revenue. Our growing footprint there is of particular interest as many of our global clients have growth projects in these markets.

我很高興地宣布，7 月 20 日，我們完成了 Pentalog 併入 Globant 家族。由此，我們在法國、羅馬尼亞、摩爾多瓦、墨西哥、越南和美國迎來了 1,300 名新 Glober。此次擴張增強了我們在歐洲的影響力，歐洲佔 Pentalog 收入的 80%。我們在這些市場不斷增長的足跡尤其令人感興趣，因為我們的許多全球客戶在這些市場都有增長項目。

This week, we held our Globant Tech Summit here in Sydney. As we are currently sponsoring the FIFA Women's World Cup, this was a great opportunity to meet with partners, future clients and to showcase the work we are doing n sports. I am very enthusiastic about our future. Currently, Globant has a very healthy pipeline, the largest in our history, and I look forward to sharing with you more stories on our execution. The nonstop innovation of our over 27,000 Globers continues to inspire me. Year-over-year, we are all able to prove that Globant is on the cutting edge of global technology and expands its total addressable market with a growing expertise and constant curiosity.

本週，我們在悉尼舉辦了全球技術峰會。由於我們目前正在讚助國際足聯女足世界杯，因此這是一個與合作夥伴、未來客戶會面並展示我們在體育領域所做工作的絕佳機會。我對我們的未來充滿熱情。目前，Globant 擁有非常健康的管道，是我們歷史上最大的管道，我期待與您分享更多有關我們執行的故事。我們超過 27,000 名全球員工不斷的創新不斷激勵著我。年復一年，我們都能夠證明 Globant 處於全球技術的前沿，並通過不斷增長的專業知識和持續的好奇心擴大了其總體目標市場。

I will now turn it over to the digital twin of Diego Tartara, our Global CTO.

我現在將把它交給我們的全球首席技術官迭戈·塔塔拉（Diego Tartara）的數字孿生。

Thank you, Martin. I'm very excited to be back with you to discuss our growing array of solutions and offerings. As Martin mentioned, AI is transforming the way we do business, provide services and organize our teams. Many of you remember years ago, how Globant was very vocal on the coming wave of artificial intelligence, long before the widespread adoption we see today. We are only experiencing the beginning of the full potential that AI will bring into everyday life.

謝謝你，馬丁。我很高興能再次與您一起討論我們不斷增長的解決方案和產品。正如馬丁提到的，人工智能正在改變我們開展業務、提供服務和組織團隊的方式。你們中的許多人還記得幾年前，Globant 在人工智能即將到來的浪潮中大聲疾呼，而這遠早於我們今天看到的廣泛採用。我們才剛剛開始體驗人工智能將給日常生活帶來的全部潛力。

We have recently published 2 new reports on how AI will impact industries and how organizations can harness its power to improve the quality, efficiency and velocity of their operations. I invite you all to take a look at how AI is changing the narrative on media and entertainment and game changers on the future of sports at reports.globant.com.

我們最近發布了兩份新報告，內容涉及人工智能將如何影響行業以及組織如何利用人工智能的力量來提高運營的質量、效率和速度。我邀請大家在 reports.globant.com 上了解人工智能如何改變媒體和娛樂的敘述，以及如何改變體育未來的遊戲規則。

Now as we look out over the next few years, we see how Quantum Computing has a similar potential to be an exponential accelerator of computer processes, providing meaningful change that will separate the early adopters from their competitors. The shift from traditional computing to quantum can provide advantages in optimization, machine learning, scenario simulation and cryptography. We can already see possible benefits in manufacturing, the life sciences, AI, finance, energy and other fields. Quantum's massive computing power when combined with machine learning and AI will play a crucial role in accelerating innovation.

現在，當我們展望未來幾年時，我們看到量子計算如何具有類似的潛力，成為計算機進程的指數加速器，提供有意義的變化，將早期採用者與競爭對手區分開來。從傳統計算到量子計算的轉變可以在優化、機器學習、場景模擬和密碼學方面提供優勢。我們已經可以看到製造業、生命科學、人工智能、金融、能源等領域可能帶來的好處。量子的強大計算能力與機器學習和人工智能相結合，將在加速創新方面發揮至關重要的作用。

Although it is still in its early stages, we recognize the need for quantum readiness for organizations so that they can seamlessly integrate this technology. They will need a proficient partner in order to ensure they reap the benefits. Given Globant signature blend between our rising industry knowledge and our long-standing tech expertise, we believe we can be that proficient partner for current and future clients.

儘管仍處於早期階段，但我們認識到組織需要做好量子準備，以便他們能夠無縫集成這項技術。他們需要一個熟練的合作夥伴以確保他們獲得收益。鑑於 Globant 標誌性的融合了我們不斷增長的行業知識和長期的技術專長，我們相信我們可以成為當前和未來客戶的熟練合作夥伴。

Now some additional color on enterprise studio network. Martin mentioned that we have created the new studios of Amazon Web Services and Microsoft in order to leverage our decade of expertise and track record in each space. Let me share more context. Globant's expertise covers almost all AWS technologies from traditional infrastructure as a service to platforms as a service, data, AI and analytics consulting, Amazon Kinesis delivery and DevOps migration, security and government migration.

現在企業工作室網絡上有一些額外的色彩。馬丁提到，我們創建了亞馬遜網絡服務和微軟的新工作室，以便利用我們十年來在每個領域的專業知識和業績記錄。讓我分享更多背景信息。 Globant 的專業知識涵蓋幾乎所有 AWS 技術，從傳統基礎設施即服務到平台即服務、數據、人工智能和分析諮詢、Amazon Kinesis 交付和 DevOps 遷移、安全和政府遷移。

Driven by our industry-specific knowledge, this new AWS studio will help our top stakeholders and our clients to create a comprehensive and scalable cloud platform that can tackle all of the new technology challenges like AI and spatial computing. We combine our global presence, strategic partnership with Amazon Web Services and deep understanding of cloud technology and business strategy to deliver innovative solutions that help our clients succeed.

在我們特定行業知識的推動下，這個新的 AWS 工作室將幫助我們的頂級利益相關者和客戶創建一個全面且可擴展的雲平台，以應對人工智能和空間計算等所有新技術挑戰。我們將我們的全球業務、與 Amazon Web Services 的戰略合作夥伴關係以及對雲技術和業務戰略的深刻理解相結合，提供創新的解決方案，幫助我們的客戶取得成功。

Our Microsoft Studio aims to enable organizations to obtain maximum value from their investments within the Microsoft AI, cloud, data and analytics capabilities. It supports clients' full adoption of a cloud strategy, taking the best out of Azure data and AI, implementing migration and modernization processes and leveraging the suite of Microsoft's intelligent business applications such as Dynamics 365 and Power Platform. This studio is also a partner for companies that need to take their IT operations and responsibilities to Azure certified subject matter experts that will monitor, manage and maintain clients' IT infrastructure and systems.

我們的 Microsoft Studio 旨在使組織能夠從 Microsoft AI、雲、數據和分析功能的投資中獲得最大價值。它支持客戶全面採用雲戰略，充分利用 Azure 數據和 AI，實施遷移和現代化流程，並利用 Dynamics 365 和 Power Platform 等 Microsoft 智能業務應用程序套件。該工作室也是需要將 IT 運營和責任交給 Azure 認證主題專家的公司的合作夥伴，這些專家將監控、管理和維護客戶的 IT 基礎設施和系統。

In this space, we are proud to say that together with Sportian, the evolution of LaLiga Tech and Microsoft, we have launched a pilot of generative AI applications to reinvent sports tactics and broadcasting. Using Microsoft Azure open AI service, this joint effort will improve available sports data and enhance the experience for millions of fans all over the world. Among other features, this collaboration facilitates the creation of multilingual subtitles adapted in near real time for all live sports matches and improves metrics availability and data visualization for each team's head coach and their assistance. This offering started for football, but will expand to other sports, including basketball, rugby and tennis.

在這個領域，我們很自豪地說，我們與 Sportian、LaLiga Tech 和 Microsoft 一起推出了生成式人工智能應用程序試點，以重塑體育戰術和廣播。通過使用 Microsoft Azure 開放式人工智能服務，這一共同努力將改善可用的體育數據並增強全球數百萬球迷的體驗。除其他功能外，這種合作有助於為所有現場體育比賽近乎實時地創建多語言字幕，並提高每個球隊主教練及其協助的指標可用性和數據可視化。該服務最初針對足球，但將擴展到其他運動，包括籃球、橄欖球和網球。

Now let me talk about how we are enhancing our clients' operations by improving our product offering. Martin shared news about GeneXus. I will dive deeper into other products. First, Waasabi. This wallet as a service has evolved and is now capable of offering organizations a fast track into the digital payment space. The platform's architecture based on APIs, sets up payment aggregation and a digital wallet business in the white label format. It enables organizations to quickly enter the fintech space without having to develop their own back end from scratch.

現在讓我談談我們如何通過改進我們的產品供應來增強客戶的運營。 Martin 分享了有關 GeneXus 的消息。我將更深入地研究其他產品。首先是瓦薩比。這種錢包即服務已經發展，現在能夠為組織提供進入數字支付領域的快速通道。該平台的架構基於API，以白標格式建立支付聚合和數字錢包業務。它使組織能夠快速進入金融科技領域，而無需從頭開始開發自己的後端。

Waasabi is currently undergoing its first major launch with the Ecuadorian bank, Produbanco. Our solution is the first embedded finance platform in Ecuador and Produbanco has become the depository bank and a reseller of Waasabi, offering it to its corporate clients who want their own solution for digital payments and collections. This project is particularly special to Globant, because through it, together with Produbanco, we demonstrated the power of fintech in Ecuador and its potential to advance financial inclusion for the whole country.

Waasabi 目前正在與厄瓜多爾銀行 Produbanco 進行首次重大推出。我們的解決方案是厄瓜多爾第一個嵌入式金融平台，Produbanco 已成為 Waasabi 的存款銀行和經銷商，為需要自己的數字支付和收款解決方案的企業客戶提供該解決方案。這個項目對 Globant 來說特別特別，因為通過它，我們與 Produbanco 一起展示了厄瓜多爾金融科技的力量及其促進整個國家金融包容性的潛力。

Next, I'd like to announce the relaunch of our platform, MAIDA, an AI assistant for IT service management. As we listen to the challenges of our clients, we find that many of them, particularly larger organizations struggle with overwhelming and cumbersome IT ticketing systems. As an AI assistant, MAIDA optimizes and accelerates IT services by applying AI to streamline ticket management and simultaneously conduct process mining to find bottlenecks.

接下來，我想宣布重新推出我們的平台 MAIDA，一個用於 IT 服務管理的人工智能助手。當我們傾聽客戶面臨的挑戰時，我們發現他們中的許多人，尤其是大型組織，都在與繁瑣的 IT 票務系統作鬥爭。 MAIDA作為人工智能助手，通過應用人工智能簡化工單管理，同時進行流程挖掘以發現瓶頸，從而優化和加速IT服務。

This platform was born out of our work with one of the largest companies in the life sciences sector. This organization was experiencing a major challenge to map their priorities and procedures through their internal ticketing tool, receiving over 100,000 priority tickets per month. Our AI assistant anticipates ticket variations and connects them to the appropriate service management team. This resulted in 25% more efficiency in problem solving, 3x faster ticket resolution and a 2-day reduction in ticket management.

該平台是我們與生命科學領域最大的公司之一合作的成果。該組織在通過其內部票務工具規劃其優先級和程序方面遇到了重大挑戰，每月收到超過 100,000 張優先票。我們的人工智能助手會預測票證變化，並將其連接到適當的服務管理團隊。這使得解決問題的效率提高了 25%，故障單解決速度提高了 3 倍，故障單管理時間縮短了 2 天。

Now some more news on our continuing work with our clients. Over the past year, we began working as the technology partner for Iberia, Spain's biggest airline, as they undergo their own digital transformation strategy. The goal is to reinvent the technology area with a 3-year project, which aims to ensure the future value of the engineering functions enabling business resilience and rapid transformations. In addition to providing technology services, we have partnered to create the future talent program centered around developing the young talent in the region.

現在有更多關於我們與客戶持續合作的消息。在過去的一年裡，我們開始作為西班牙最大的航空公司伊比利亞航空公司的技術合作夥伴，幫助他們實施自己的數字化轉型戰略。目標是通過一個為期 3 年的項目重塑技術領域，旨在確保工程功能的未來價值，從而實現業務彈性和快速轉型。除了提供技術服務外，我們還合作創建了以培養該地區年輕人才為中心的未來人才計劃。

Through this project, we are sharing with Iberia the Globant way of doing things, including our agile culture, our growth strategy, our industry specialized capabilities to improve product performance and our delivery models. The pharmaceutical industry has been steadily moving towards transforming traditional face-to-face interactions into digital experiences as new products are launched into the market. We are working with one of the largest players in the sector on an approach to fully transform their go-to-market strategy.

通過這個項目，我們與 Iberia 分享 Globant 的做事方式，包括我們的敏捷文化、我們的增長戰略、我們提高產品性能的行業專業能力以及我們的交付模式。隨著新產品投放市場，製藥行業一直在穩步將傳統的面對面互動轉變為數字體驗。我們正在與該行業最大的參與者之一合作，尋求全面轉變其進入市場策略的方法。

Following proven data-driven strategies, the new model relies on innovative digital experiences for health care professionals to boost their engagement with the company. These new touch points will enable capturing data that will result in simpler, more intuitive and personalized experiences fostering stronger connections with this specific community while driving the success of their products.

新模式遵循經過驗證的數據驅動策略，依靠醫療保健專業人員的創新數字體驗來提高他們與公司的互動。這些新的接觸點將能夠捕獲數據，從而帶來更簡單、更直觀和個性化的體驗，促進與這個特定社區的更緊密的聯繫，同時推動其產品的成功。

You may remember that last quarter, we consolidated our Google Cloud expertise into its own studio part of the enterprise network. This quarter, we have major developments from the studio with a leading toy company. After building a track record with them for quality of delivery through our work over the past 2 years, they approached us with a more urgent need to reconcile marketing and commerce analytics data for 3 product brands. Their own ecosystem was fragmented and not helping the organization achieve their KPIs. Thanks to our partnership with Google and our expertise on the Google Cloud platform and data and AI studio we reconciled the data on each analytics platform, enabling the company to calculate business KPIs from a single source.

您可能還記得，上個季度，我們將 Google Cloud 專業知識整合到了企業網絡的自己的工作室部分。本季度，我們與一家領先玩具公司的工作室取得了重大進展。通過過去 2 年的工作，與他們建立了交付質量的跟踪記錄後，他們向我們提出了更迫切的需要，以協調 3 個產品品牌的營銷和商業分析數據。他們自己的生態系統支離破碎，無法幫助組織實現其 KPI。得益於我們與 Google 的合作夥伴關係以及我們在 Google Cloud 平台以及數據和 AI 工作室方面的專業知識，我們協調了每個分析平台上的數據，使公司能夠從單一來源計算業務 KPI。

In Latin America, we are working with the region's largest bank, Itau Unibanco. Through GeneXus, we're helping them release the first banking super app in the region. Our Globant team provided the platform technology and services to convert their current mobile application into a super app, integrating several partner services into the solution. boosting user engagement and facilitating customer access to services and product payments without leaving the application.

在拉丁美洲，我們正在與該地區最大的銀行 Itau Unibanco 合作。通過 GeneXus，我們正在幫助他們發布該地區的第一個銀行超級應用程序。我們的 Globant 團隊提供了平台技術和服務，將他們當前的移動應用程序轉換為超級應用程序，並將多個合作夥伴服務集成到解決方案中。提高用戶參與度並方便客戶在不離開應用程序的情況下訪問服務和產品付款。

Thank you, everyone, for your time and attention. I'll now hand it over to Pato.

謝謝大家的時間和關注。現在我將把它交給帕托。

Thank you, Diego, and good afternoon, everyone. It's great to be back. Let's kick off with our clients. As you know, a major growth objective for Globant has been our 100 squared strategy, aimed at generating new clients and also expanding the array of our relationships with our current ones to serve new geographies and even more services as we grow our collaboration over time. It continues to advance and show results as this quarter, we were able to deliver our highest quarterly revenue ever, but with greater diversity in our top revenue sources.

謝謝迭戈，大家下午好。很高興回來。讓我們從我們的客戶開始吧。如您所知，Globant 的一個主要增長目標是我們的100 平方戰略，旨在產生新客戶，並擴大我們與現有客戶的關係範圍，以服務新的地區，並隨著我們隨著時間的推移加強合作，提供更多的服務。它繼續前進並顯示結果，本季度我們能夠實現有史以來最高的季度收入，但我們的主要收入來源更加多樣化。

We now have 16 clients bringing in more than $20 million in annual revenue. We have 283 clients that provide more than $1 million of annual revenue, 21.5% more than 1 year ago. Our largest account, the Walt Disney Company, declined by 2.4% year-over-year and 1.1% quarter-over-quarter, showing signs of stabilization. The rest of our accounts collectively grew by 18.1% year-over-year and 6% quarter-over-quarter.

我們現在有 16 個客戶，年收入超過 2000 萬美元。我們有 283 個客戶的年收入超過 100 萬美元，比一年前增加了 21.5%。我們最大的客戶華特迪士尼公司同比下降 2.4%，環比下降 1.1%，顯示出企穩跡象。我們其餘的賬戶同比增長 18.1%，環比增長 6%。

Globant is also widening its revenue sources geographically as well. In Q2, 60.6% of our revenue came from North America, 22% from Latin America, 14.1% from EMEA and 3.3% from Asia and Oceania. As our 100 squared strategy is based on widening our services to our current clients, we remain laser-focused on our Net Promoter Score as a quantifiable assessment of our clients' satisfaction with Globant and their likelihood of referring us within their organization and their networks.

Globant 還在地理上擴大其收入來源。第二季度，我們的收入 60.6% 來自北美，22% 來自拉丁美洲，14.1% 來自歐洲、中東和非洲，3.3% 來自亞洲和大洋洲。由於我們的100 平方戰略的基礎是擴大我們對現有客戶的服務，因此我們仍然專注於淨推薦值，作為對客戶對Globant 滿意度以及他們在其組織和網絡中推薦我們的可能性的量化評估。

In Q2, we achieved an NPS of 83 our best ever. Our average NPS for the trailing 12 months has now increased from 79 to 8. As of June 30, we were 25,947 Globers, of which 93.1% were IT professionals. With the full incorporation of Pentalog in July, Globant is now a team of more than 27,000 creative mines. Our annual attrition rate is currently 11.6%, the lowest in our history and the attrition over Q2 was 2.5%. We are committed to keep delivering the best experience to Globers and to enhance Globant's identity as an accelerator with exposure to projects with beloved global brands in multiple geographies, regions and industries, combined with a culture of diversity and innovation.

第二季度，我們的 NPS 達到了有史以來最好的 83。我們過去 12 個月的平均 NPS 現已從 79 增加到 8。截至 6 月 30 日，我們共有 25,947 名 Glober，其中 93.1% 是 IT 專業人員。隨著7月份Pentalog的全面合併，Globant現在是一個擁有超過27000名創意礦場的團隊。目前，我們的年度員工流失率為 11.6%，為歷史最低水平，第二季度的員工流失率為 2.5%。我們致力於不斷為 Globers 提供最佳體驗，並通過在多個地區、地區和行業接觸受喜愛的全球品牌的項目，並結合多元化和創新的文化，增強 Globers 作為加速器的身份。

We also aim to drive efficient utilization to manage proper headcount, hiring and attrition effectively. As of 2Q '23, our utilization rate stood at 80.1%. At current levels and with the labor market stabilizing, we are confident in our ability to have a healthy flow of talent moving forward. We are already starting to see positive indications of better hiring trends on an organic basis, and we anticipate these trends to continue into H2. Under the same objective and to strengthen our agility, we launched a new AI-based staffing assistant that runs on Slack, Globant's preferred internal communication channel and helps project leaders to build the best teams in seconds.

我們還致力於提高利用率，以有效管理適當的員工人數、招聘和人員流失。截至 2023 年第二季度，我們的利用率為 80.1%。在目前的水平和勞動力市場的穩定下，我們對未來實現人才健康流動的能力充滿信心。我們已經開始看到有機招聘趨勢改善的積極跡象，並且我們預計這些趨勢將持續到下半年。出於同一目標並為了增強我們的敏捷性，我們推出了一款新的基於人工智能的人員配備助理，該助理在Globant 首選的內部溝通渠道Slack 上運行，可幫助項目負責人在幾秒鐘內建立最好的團隊。

This new assistant seamlessly works with globin's performance and career systems and proposes to each leader suitable candidates within the talent pool that best match each job request with all pertinent information. In a fully conversational mode, Globant leaders can now use this assistant to create high-performance teams with specific skills and even set up the interviews. This will speed up even more our readiness maximizing the value of our talent pool and ensuring quality of the delivery.

這位新助理與 globin 的績效和職業系統無縫協作，並向每位領導者推薦人才庫中最適合每個工作要求和所有相關信息的合適候選人。在完全對話模式下，Globant 領導者現在可以使用此助手創建具有特定技能的高績效團隊，甚至安排面試。這將進一步加快我們的準備速度，最大限度地發揮我們人才庫的價值並確保交付質量。

To keep ensuring a vibrant career path at Globant and accelerate Globers exposure to new challenges, we developed a data-driven tool concept known as readiness model. It provides a holistic view to assess the readiness level of Globers for growth and promotion by encompassing and interconnecting all the core aspects of talent development, performance assessments, leaders' feedback and technical skills, among others. We're using this tool, so that we can reward Globers, who have gone the extra mile to upskill or reskill themselves and have taken the driver's seat of their own career by offering them new challenges with more agility.

為了繼續確保 Globant 充滿活力的職業道路並加速 Globers 迎接新的挑戰，我們開發了一種稱為準備模型的數據驅動工具概念。它通過涵蓋人才發展、績效評估、領導者反饋和技術技能等所有核心方面並將其相互關聯，提供了評估 Globers 成長和晉升準備水平的整體視圖。我們使用這個工具是為了獎勵 Globers，他們付出了額外的努力來提高技能或重新技能，並通過為他們提供更敏捷的新挑戰來佔據自己職業生涯的主導地位。

It also fosters transparency and helps mitigate bias by clearly outlining the criteria utilized to assess and comprehend the readiness level of Globers as a guide for leaders. In doing so, we are being true to Globant's entrepreneurial culture at all levels and areas of the organization. We launched this tool via our proprietary platform of StarMeUp this quarter. For Globers that want to take their career development even further into their own hands, our open career platform continues to provide Globers with a promotional opportunity right here at Globant and serves as our in-house tool to offer a new career path team and perspective.

它還通過明確概述用於評估和理解 Globers 準備水平的標準來提高透明度並幫助減少偏見，作為領導者的指南。在此過程中，我們在組織的各個層面和領域都忠於 Globant 的創業文化。本季度我們通過我們的專有平台 StarMeUp 推出了該工具。對於那些希望將自己的職業發展進一步掌握在自己手中的 Globers，我們的開放式職業平台將繼續為 Globers 提供在 Globant 的晉昇機會，並作為我們的內部工具來提供新的職業道路團隊和視角。

More than 500 Globers entered new fields within Globant in Q2 alone. In the past year, more than 2,000 Globers have been able to find new challenges this way. We are also enthusiastic about the increase in the utilization of our own learning and development hub, MyGrowth. There, Globers and their career mentors can track progress in specific skills relative to the expected proficiency at each seniority level. Powered with artificial intelligence the tool provides a range of learning missions that enable Globers to expand their skills and reach new levels of knowledge in each working ecosystem. More than 15,000 Globers are regularly active on this platform, and nearly 4,000 have increased their standing. Combining the use of my growth with the continuous evolution and expansion of Globant University, the total globin learning hours increased more than 30% year-over-year.

僅第二季度就有超過 500 名 Glober 進入 Globant 的新領域。去年，超過 2,000 名 Glober 人通過這種方式找到了新的挑戰。我們也對提高我們自己的學習和發展中心 MyGrowth 的利用率感到興奮。在那裡，Globers 和他們的職業導師可以跟踪特定技能相對於每個資歷級別的預期熟練程度的進展。該工具在人工智能的支持下提供了一系列學習任務，使 Glober 能夠擴展他們的技能並在每個工作生態系統中達到新的知識水平。超過 15,000 名 Glober 經常活躍在該平台上，近 4,000 名 Glober 的地位有所提高。結合我的成長使用與Globant大學的不斷演變和擴張，Globant總學習時數同比增長30%以上。

Last but not least, our Be Kind initiative keeps driving impact on our greater community and broader company stakeholders. In 2020, we committed to offer 15,000 scholarships globally to people from different backgrounds to study technology by 2025. We have had particular focus on underrepresented profiles including women and socioeconomic minorities in developing countries.

最後但並非最不重要的一點是，我們的 Be Kind 計劃不斷對我們更大的社區和更廣泛的公司利益相關者產生影響。 2020 年，我們承諾到 2025 年在全球範圍內向來自不同背景的人們提供 15,000 個獎學金來學習技術。我們特別關注發展中國家的代表性不足的群體，包括婦女和社會經濟少數群體。

Through our Code Your Future initiative, we have already offered a series of training opportunities to more than 10,000 people. And this last quarter, we announced 500 new scholarships in Malaga, Spain. Within this program, the Construye Paz initiative in Colombia makes me especially proud. Last year, I shared with you all that Globant launched a special scholarship program for individuals affected by the internal conflict in Colombia, who are transitioning towards peace. The program provides access to alternative forms of education, including boot camps, technical workshops and soft skill lessons to improve their employability in the technology industry. We have expanded this program to 4 cities and are currently training more than 120 new individuals.

通過“編碼你的未來”計劃，我們已經為 10,000 多人提供了一系列培訓機會。上個季度，我們宣佈在西班牙馬拉加提供 500 個新獎學金。在這個計劃中，哥倫比亞的 Construye Paz 倡議讓我感到特別自豪。去年，我與大家分享了 Globant 為受哥倫比亞內部衝突影響、正在向和平過渡的個人推出了一項特別獎學金計劃。該計劃提供替代形式的教育，包括訓練營、技術研討會和軟技能課程，以提高他們在技術行業的就業能力。我們已將該計劃擴展到 4 個城市，目前正在培訓 120 多名新員工。

And finally, I'm happy to announce updates on the fourth edition of the Women That Build Awards, with the support of global partners like the NYSE, Salesforce, Women Corporate Directors, Udemy and Coach Hub. This year's nomination stage concluded with our largest response ever for the awards, receiving over 3,100 nominees and 123,000 votes. We look forward to sharing the stories of the winners so that we can promote more diversity and inclusion in our industry through their inspiring stories.

最後，我很高興地宣布第四屆女性構建獎的最新消息，該獎項得到了 NYSE、Salesforce、女性企業董事、Udemy 和 Coach Hub 等全球合作夥伴的支持。今年的提名階段以有史以來對該獎項最熱烈的反響結束，收到超過 3,100 名提名者和 123,000 張選票。我們期待分享獲獎者的故事，以便我們能夠通過他們鼓舞人心的故事促進行業更加多元化和包容性。

With that, I'll hand it over to Juan to discuss our financials.

接下來，我會將其交給胡安來討論我們的財務狀況。

Greetings, everyone. It's good to be back here with you this afternoon. We are excited about the outcomes we achieved today, and we extend our gratitude to all our globals and clients for their support and dedication in making it happen. We are pleased to report that in Q2 of 2023, we achieved our highest quarterly revenue figure, representing a solid year-over-year revenue increase of 15.9% and totaling $497.5 million.

大家好。很高興今天下午能回到這里和你在一起。我們對今天取得的成果感到興奮，並向所有全球人員和客戶表示感謝，感謝他們為實現這一目標而提供的支持和奉獻。我們很高興地報告，2023 年第二季度，我們實現了最高的季度收入數字，收入同比穩健增長 15.9%，總計 4.975 億美元。

Our performance in the current environment is a testament to our commitment to delivering excellent results. Our adjusted operating profit margin met guidance expectations, and we skillfully executed M&A initiatives to broaden our presence in Europe. As we previously indicated in our last earnings call, we are confident in achieving sequential strong revenue growth in 2023. Our company continues to expand, while client discussions about long-term strategies remain consistent. In the second quarter, our pipeline increased again and conversations with customers remain strong.

我們在當前環境下的表現證明了我們致力於提供卓越成果的承諾。我們調整後的營業利潤率達到了指導預期，並且我們巧妙地執行了併購舉措，以擴大我們在歐洲的業務。正如我們之前在上次財報電話會議中指出的那樣，我們有信心在 2023 年實現連續強勁的收入增長。我們的公司繼續擴張，而客戶關於長期戰略的討論保持一致。第二季度，我們的渠道再次增加，與客戶的對話依然活躍。

Additionally, we continue to see some improvement in the closing of new bookings and the creation of new backlogs to fulfill short-term revenues. Our bookings in the first half 2023 are over 40% larger than those in the second half of 2022. Our revenues of $497.5 million represented a solid 5.3% sequential growth, with North America growing 3.9% quarter-on-quarter, EMEA at 10.2%, LATAM 6.7% and new markets at 1.8%, bringing us to $970 million of revenue year-to-date at 16.8% year-on-year growth. Also, our Q2 2023 revenues are already above the Q4 2022 level as previously forecasted in our last 2 earnings calls.

此外，我們繼續看到新預訂的完成和新訂單的創建以實現短期收入方面有所改善。我們 2023 年上半年的預訂量比 2022 年下半年增加了 40% 以上。我們的收入為 4.975 億美元，環比穩定增長 5.3%，其中北美季度環比增長 3.9%，歐洲、中東和非洲地區增長 10.2% 、拉丁美洲6.7% 和新市場1.8%，使我們今年迄今的收入達到9.7 億美元，同比增長16.8%。此外，我們 2023 年第二季度的收入已經高於我們之前在最近兩次財報電話會議中預測的 2022 年第四季度的水平。

We witnessed improving spending patterns across our top 20 accounts. Regarding our top account, Disney's second quarter performance showed signs of stabilization with revenues flat sequentially. For Q3, we now expect sequential growth similar to the company average in light of improving demand trends. We experienced sequential growth in our 2 to 10 and 11 to 20 client buckets of 1.5% and 6.8% quarter-over-quarter, respectively. Additionally, inorganic contributions accounted for approximately 6 percentage points year-over-year growth in Q2, further improving our overall performance.

我們見證了前 20 個賬戶的支出模式有所改善。就我們的主要客戶而言，迪士尼第二季度的業績顯示出穩定的跡象，收入與上一季度持平。鑑於需求趨勢改善，我們現在預計第三季度的環比增長將與公司平均水平相似。我們的 2 至 10 個和 11 至 20 個客戶群的環比增長分別為 1.5% 和 6.8%。此外，第二季度無機貢獻同比增長約6個百分點，進一步改善了我們的整體業績。

From a vertical standpoint, we posted notable sequential growth in most industries. Our Media and Entertainment division experienced a 5.5% growth rate driven by a positive performance, not only in our Sports and Entertainment segment, but also in a handful of large media companies. As expected, technology and telecommunications saw a slight decrease of minus 5.0%, indicating a more moderated spending pattern still present across many of our high-tech clients. However, we are seeing signs of stabilization across this vertical looking into the second half of the year.

從垂直角度來看，我們在大多數行業都實現了顯著的環比增長。我們的媒體和娛樂部門在積極業績的推動下實現了 5.5% 的增長率，不僅在我們的體育和娛樂部門，而且在少數大型媒體公司也是如此。正如預期，技術和電信業務略有下降-5.0%，表明我們的許多高科技客戶仍然存在較為溫和的支出模式。然而，我們看到今年下半年整個垂直領域出現穩定的跡象。

Positive growth was seen in Travel and Hospitality at 7.1% and consumer, retail and manufacturing at 7.8%, with a flattish performance in professional services at minus 0.2%. Our bank's financial services and insurance vertical outperformed with an 8.4% quarter-on-quarter growth. We note our exposure to large global financial institutions across many business units and geographies. Healthcare demonstrated an exceptional growth rate of 18.8%, helped by our recent acquisition of ExperienceIT. Our other verticals category grew by 2.3%. All in, this drove a solid company-wide quarter-over-quarter growth rate of 5.3%.

旅遊和酒店業增長 7.1%，消費品、零售和製造業增長 7.8%，專業服務表現平淡，為負 0.2%。我行的金融服務和保險垂直業務表現優於大市，環比增長 8.4%。我們注意到我們在許多業務部門和地區對大型全球金融機構的投資。在我們最近收購 ExperienceIT 的幫助下，醫療保健行業實現了 18.8% 的驚人增長率。我們的其他垂直類別增長了 2.3%。總而言之，這推動了全公司 5.3% 的穩健季度增長率。

We delivered another strong quarter of profitability and net income generation. In Q2 2023, our adjusted gross profit margin reached 38.3%, up 10 basis points quarter-on-quarter with adjusted gross profit increasing to $190.6 million, a 13.5% year-on-year growth. We are experiencing some marginal cost headwinds driven by FX appreciation in most LATAM countries. Our adjusted operating margin for the quarter was 15% within the guidance range we provided in May. Regarding adjusted SG&A, this stood at 17.9% of sales, down 90 basis points compared to last year's quarter.

我們又實現了強勁的季度盈利能力和淨利潤。 2023年第二季度，我們的調整後毛利率達到38.3%，環比增長10個基點，調整後毛利潤增至1.906億美元，同比增長13.5%。在大多數拉美國家，我們正經歷著因外匯升值而帶來的一些邊際成本阻力。我們調整後的本季度營業利潤率為 15%，處於我們 5 月份提供的指導範圍內。調整後的銷售、管理及行政費用 (SG&A) 佔銷售額的 17.9%，比去年同期下降 90 個基點。

As for below-the-line items, our IFRS effective tax rate for the quarter was 21.1%, slightly below our guidance as taxes came in lower than our initial expectation in specific geographies. Our adjusted net income in Q2 reached $58.9 million with an 11.8% adjusted net income margin, up 10 basis points quarter-over-quarter. Adjusted diluted EPS for the quarter was $1.36, $0.03 above our guidance, representing an 11.5% year-over-year increase based on 43.4 million average diluted shares.

至於線下項目，我們本季度的國際財務報告準則有效稅率為 21.1%，略低於我們的指導，因為特定地區的稅收低於我們的最初預期。第二季度調整後淨利潤達到 5890 萬美元，調整後淨利潤率為 11.8%，環比增長 10 個基點。本季度調整後稀釋每股收益為 1.36 美元，比我們的指引高出 0.03 美元，基於 4,340 萬股平均稀釋股票計算，同比增長 11.5%。

Regarding balance sheet management as of Q2 2023, our cash and cash equivalents and short-term investments amounted to $270.8 million. During the quarter, we expanded our revolving credit facility to $725 million from $350 million, and it remained fully undrawn by the end of the quarter, providing us ample liquidity and resources to continue to execute our capital allocation and M&A strategy. Year-to-date, in 2023, we have produced approximately $7.1 million of free cash flow, a significant improvement from the $28.1 million used in the same period last year, owing to improvements in our working capital and tax management.

截至 2023 年第二季度的資產負債表管理，我們的現金和現金等價物以及短期投資總計 2.708 億美元。本季度，我們將循環信貸額度從 3.5 億美元擴大到 7.25 億美元，並且到本季度末仍完全未動用，為我們提供了充足的流動性和資源，以繼續執行我們的資本配置和併購戰略。年初至今，到 2023 年，我們已經產生了約 710 萬美元的自由現金流，比去年同期的 2810 萬美元有了顯著改善，這得益於我們的營運資本和稅務管理的改善。

Moving forward, let's discuss our outlook for the third quarter and the full year 2023. Our third quarter and full year outlook incorporate the most recent trends in the business and the contribution from Pentalog's acquisition, which finally closed by the end of July. I would, first of all, like to provide you with positive news. Our increased guidance for the year implies strong sequential growth in Q3 and in Q4, both in terms of total growth and on a like-for-like basis, markedly higher than the rest of the industry. This positive trend in our revenues, coupled with a more constructive market gives us confidence to start thinking about 2024.

展望未來，讓我們討論我們對 2023 年第三季度和全年的展望。我們的第三季度和全年展望包含了最新的業務趨勢以及 Pentalog 收購的貢獻，該收購最終於 7 月底完成。首先，我想向大家提供一個積極的消息。我們對今年的指導增加意味著第三季度和第四季度的強勁環比增長，無論是在總增長方面還是在同比基礎上，都明顯高於行業其他公司。我們收入的積極趨勢，加上更具建設性的市場，讓我們有信心開始考慮 2024 年。

We anticipate Q3 revenues of at least $545 million, reflecting approximately 18.8% year-over-year growth and a 9.5% sequential increase. As we called out during the last quarter, we continue to perceive a positive evolution of our underlying revenue indicators and an encouraging pace of bookings and backlog formation throughout the first half of 2023, compared to the final months of 2022. Excluding the inorganic contribution from Pentalog, we expect over a 6% quarter-on-quarter revenue growth in the third quarter. The implied sequential growth we expect for the fourth quarter is projected at approximately similar levels. The company's second half run rate projections are aligned with our long-term goals.

我們預計第三季度收入至少為 5.45 億美元，同比增長約 18.8%，環比增長 9.5%。正如我們在上一季度所指出的那樣，與2022 年最後幾個月相比，我們繼續認為我們的基本收入指標出現了積極的演變，並且2023 年上半年的預訂和積壓訂單形成速度令人鼓舞。 Pentalog，我們預計第三季度收入環比增長超過 6%。我們預計第四季度的隱含環比增長預計將達到大致相似的水平。公司下半年的運行率預測與我們的長期目標一致。

In terms of the full year guidance, we now expect our full year 2023 revenue to be at least $2.094 billion, a solid 17.6% year-over-year growth and above our previous guidance figure. This guidance figure considers about 180, 200 basis points of top line growth from Pentalog. From a profitability perspective, we now expect our adjusted operating income margin in the 15% to 16.5% range for the third quarter of 2023.

就全年指導而言，我們現在預計 2023 年全年收入至少為 20.94 億美元，同比穩定增長 17.6%，高於我們之前的指導數字。該指導數字考慮了 Pentalog 約 180、200 個基點的營收增長。從盈利能力的角度來看，我們目前預計 2023 年第三季度調整後的營業利潤率將在 15% 至 16.5% 的範圍內。

For the full year, we now expect our adjusted operating margin in the 15% to 16.5% range. IFRS effective income tax rate is expected to be in the 21.5% to 23.5% range for both Q3 2023 and the full year 2023. Our adjusted EPS for Q3 is expected to be at least $1.46, assuming 43.5 million average diluted shares outstanding for the quarter. Finally, our adjusted diluted EPS for 2023 is expected to be $5.72, assuming 43.4 million average diluted shares for the year.

對於全年，我們目前預計調整後的營業利潤率在 15% 至 16.5% 範圍內。預計2023 年第三季度和2023 年全年的國際財務報告準則有效所得稅率將在21.5% 至23.5% 範圍內。假設本季度平均稀釋後流通股為4350 萬股，我們第三季度調整後的每股收益預計至少為1.46 美元。最後，假設 2023 年平均稀釋股數為 4,340 萬股，我們預計 2023 年調整後稀釋每股收益為 5.72 美元。

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

感謝大家參與此次電話會議以及您的報導和支持。

(Operator Instructions) And with this in mind, we will take the first question from Tien-Tsin Huang from JPMorgan.

（操作員說明）考慮到這一點，我們將回答來自摩根大通的黃天欽提出的第一個問題。

Yes, good results and the sequential growth outlook is encouraging. So I'll ask on that. It sounds like organic sequential, you're expecting a similar outcome as we saw a year in the second quarter. So I just want to make sure we caught that correctly. And I'm curious with this theme of short-cycle projects or discretionary work being under pressure, but large deals coming through, what are you seeing maybe that's different than the rest of the group? I'd love to hear your thoughts on that, Martin.

是的，良好的業績和連續的增長前景令人鼓舞。所以我會問一下。這聽起來像是有機連續的，您預計會出現與我們在第二季度看到的類似結果。所以我只是想確保我們正確地抓住了這一點。我很好奇短週期項目或可自由支配的工作面臨壓力，但大筆交易即將完成，你認為這與團隊其他成員有什麼不同？我很想听聽你對此的想法，馬丁。

So yes, I think that the numbers are showing like very good growth, especially compared to the rest of the industry. The number for Q2 in terms of sequential growth, organic was about 4.3%. That is increasing actually a little bit into Q3, which is going to be around 6% organic sequential growth. And then when we look at the implied numbers for the fourth quarter, it's about 5.5%, almost there as well. So the sequential growth is clearly improving. I think it's a consequence of the level of bookings and the level of deals that we have been signing since the beginning of the year. And that trend that we started to talk about back in February stays the same. And it's actually getting slightly better. We started to see again some deals getting closed. We started to see Disney -- our largest customer, Disney now getting better as well. So all in all, as you pointed out, we are once again in the 4% to 6% sequential organic growth quarter-over-quarter, which is a positive indicator getting into next year.

所以，是的，我認為這些數字顯示出非常好的增長，特別是與行業其他公司相比。第二季度的有機環比增長約為 4.3%。第三季度這一數字實際上略有增加，有機環比增長約為 6%。然後當我們看第四季度的隱含數字時，大約是 5.5%，幾乎也在那裡。因此，環比增長明顯改善。我認為這是我們自年初以來簽訂的預訂量和交易量的結果。我們二月份開始討論的趨勢保持不變。事實上，情況正在稍微好一些。我們又開始看到一些交易即將完成。我們開始看到迪士尼——我們最大的客戶，迪士尼現在也變得更好了。總而言之，正如您所指出的，我們再次實現季度環比 4% 至 6% 的連續有機增長，這是進入明年的一個積極指標。

Yes. And on the second part of the question, Tien-Tsin, we are seeing a pipeline which is historically the highest. And the pipeline is not composed by small projects, but composed by pretty much larger deals than before, longer-term deals. So we're extremely happy to see that. In a wide range of customers from the top 5 to the 11 to 20 -- sorry, top 5 -- or sorry, top 10 and 11 to 20, in both segments we are seeing very positive pipeline. And again, the change on the trend is pretty -- is pretty good right now. I mean, it's much better than on the first quarter than when we announced our first quarter results. So I'm positive for the rest of the year, and it looks like the sun is rising a little bit. I mean it's not -- it's rising a little bit.

是的。在問題的第二部分“天進”上，我們看到了歷史上最高的管道。而且管道並不是由小型項目組成，而是由比以前大得多的長期交易組成。所以我們非常高興看到這一點。在從前5 名到11 名到20 名的廣泛客戶中——抱歉，前5 名——或者抱歉，前10 名和11 名到20 名，在這兩個細分市場中，我們都看到了非常積極的渠道。再說一次，趨勢的變化是相當大的——現在非常好。我的意思是，這比我們宣布第一季度業績時的第一季度要好得多。所以我對今年剩下的時間持樂觀態度，看起來太陽正在升起一點。我的意思是它不是——它只是上升了一點。

Yes. Well, it's also early there in Australia. So it's probably the case real quick on headcount, and I'll see the floor.

是的。嗯，澳大利亞現在也還早。因此，就人員數量而言，情況可能很快就會如此，我會看看大家的情況。

Exactly right.

非常正確。

It's really early here, but we are keeping here.

雖然時間還早，但我們還是留在這裡。

You guys always working hard. I can actually segues well with my question, I guess, maybe on utilization and headcount. Can we expect headcount to grow here as we look through the balance of the year? Or is there room on the utilization side maybe to balance demand that you're seeing. I'm just curious what the plans are between headcount growth and utilization? That's all I had.

你們一直在努力。我想，我實際上可以很好地回答我的問題，也許是關於利用率和人數。當我們回顧今年的剩餘時間時，我們可以預期這裡的員工人數會增加嗎？或者利用率方面是否有空間可以平衡您所看到的需求。我只是好奇員工人數增長和利用率之間的計劃是什麼？這就是我所擁有的一切。

Well, head count in the first half of the year has been a little down. But now the second half has appeared like we are going to keep growing. Utilization has been -- we have been working a lot on that in terms of keeping it up in the last couple of months. So I think that what we're going to expect for the next half of the year is that we are going to raise the head count. We have very strong pipeline, as Martin was mentioning, the partnership that we are achieving with the main customers are longer. So I think that we can be confident that we are going to keep there. The attrition is the lowest in the history at Globant. So I think that, that is also another very good indicator that we are going to the correct path for the second half.

嗯，今年上半年的人數略有下降。但現在下半年我們似乎將繼續增長。在過去的幾個月裡，我們在保持利用率方面做了很多工作。所以我認為我們下半年的預期是增加員工人數。正如馬丁所提到的，我們擁有非常強大的管道，我們與主要客戶建立的合作夥伴關係更長。所以我認為我們可以有信心繼續保持下去。 Globant 的人員流失率是歷史最低的。所以我認為，這也是另一個非常好的指標，表明我們下半年將走上正確的道路。

The next question comes from Ashwin Shirvaikar from Citi.

下一個問題來自花旗銀行的 Ashwin Shirvaikar。

I wanted to ask about -- I mean, obviously, good results and good use of balance sheet as well. Could you help separate out organic versus inorganic sort of the contribution that you expect from Pentalog? And just beyond also the numerical contribution, if you could talk a little bit about the specific capabilities that you can layer on because of Pentalog, maybe just get a little bit deeper into that as well, reminders?

我想問的是——我的意思是，顯然，良好的結果以及資產負債表的良好利用。您能幫忙區分一下您期望 Pentalog 做出的有機貢獻和無機貢獻嗎？除了數字貢獻之外，如果您能談談由於 Pentalog 而可以分層的具體功能，也許也可以更深入地了解這一點，提醒一下？

Ashwin, yes, look, for the year, the new guidance is 17.6% year-over-year growth, which is, again, extremely strong when you look into our peers. Most of our peers were from minus 12% to about 4% positive. So we are talking a significant higher growth for Globant. If we want to decompose that, we estimated that organic growth is about 11.3%, 11.4% for the year, and the rest comes from the acquisitions that we did early this year and late last year. And then specifically talking about Pentalog, we are estimating the full year impact of Pentalog at about 180 basis points of growth year-over-year, which is about $33 million, $34 million, $35 million of revenues at this point in time. So that's what we are including for the rest of the year.

阿什溫，是的，今年的新指導是同比增長 17.6%，當你觀察我們的同行時，這再次是非常強勁的。我們大多數同行的積極態度從負 12% 到大約 4% 不等。因此，我們正在談論 Globant 的顯著更高增長。如果我們要分解的話，我們估計有機增長約為11.3%，全年增長11.4%，其餘部分來自我們今年年初和去年年底進行的收購。然後具體談談 Pentalog，我們估計 Pentalog 的全年影響約為同比增長 180 個基點，此時的收入約為 3300 萬美元、3400 萬美元、3500 萬美元。這就是我們今年剩餘時間的內容。

And regarding the second part of the question, we're seeing Pentalog in 2 different dimensions. The first one is geography, and we're expanding into -- with much bigger operations now in France, in Germany and also expanding into other delivery locations like we didn't have before or we have it smaller, like Poland, and now we have about -- sorry, Romania, like we have now more than 1,000 people in Romania. We are expanded now into Vietnam, into Morocco, into other destinations we were not there. And I will let Diego to explain the technological things that Pentalog are bringing to the table.

關於問題的第二部分，我們在兩個不同的維度上看到 Pentalog。第一個是地理位置，我們正在擴展到——現在在法國、德國有更大的業務，並且還擴展到其他交付地點，就像我們以前沒有的，或者我們有較小的交付地點，比如波蘭，現在我們抱歉，羅馬尼亞，現在羅馬尼亞有 1000 多人。我們現在已擴展到越南、摩洛哥以及我們尚未到達的其他目的地。我將讓 Diego 解釋 Pentalog 帶來的技術。

So Pentalog, actually, in terms of their delivery, I think the key aspect they have and they bring to the table for Globant, it has to do with the use of their talent. They have tooling in an approach to the delivery model that is super interesting and very innovative that we are working together now to incorporate at a full scale in Globant. In terms of capabilities, I think the most important aspect, like Martin said, is reaching out to their client base and opening up new regions, not only in terms of delivery, but in terms of clients to bring our expertise, and that's already happening.

所以，實際上，Pentalog 就他們的交付而言，我認為他們為 Globant 帶來的關鍵方面與他們的才能的使用有關。他們擁有一種非常有趣且非常創新的交付模型方法工具，我們現在正在共同努力將其全面納入 Globant。就能力而言，我認為最重要的方面，就像馬丁所說，是接觸他們的客戶群並開闢新的地區，不僅在交付方面，而且在客戶方面帶來我們的專業知識，而這已經發生了。

The integration has been really great with Pentalog and was really smooth. So we have been able to start working with their clients and cross-selling their -- all the capabilities that Globant has. So I think that is a really important thing that about this acquisition. This was really smooth and was fast. So we can see the results very, very shortly.

與 Pentalog 的集成非常好，而且非常順利。因此，我們已經能夠開始與他們的客戶合作，並交叉銷售他們的——Globant 擁有的所有功能。所以我認為對於這次收購來說這是一件非常重要的事情。這真的很順利而且很快。所以我們很快就能看到結果。

Understood. And the second question is on margins. And I think through the first half one you had mentioned that margins should improve through the course of the year. The margin range is still sort of the kind of -- I think at the top end is a little bit lower than before. Could you talk a little bit about the specific investments that you're having to make in the current environment? And is this for the purpose of supporting the significantly higher growth rate? Or is there a pricing component? What's exactly going on?

明白了。第二個問題是關於邊緣的。我認為，在上半年，您曾提到利潤率在這一年中應該會有所改善。利潤範圍仍然是這樣的——我認為上限比以前要低一些。您能否談談您在當前環境下必須進行的具體投資？這是為了支撐顯著較高的增長率嗎？或者是否有定價成分？到底是怎麼回事？

Look, if it hasn't been for the recent changes in the FX market, we would have seen a nice improve -- I would say, 1.5% to probably around 1.5 percentage points of improvement. But if you look at what is happening in Latin America, especially Colombia, Brazil, Chile, Peru, the appreciation of the U.S. dollar has gone anywhere between 5% to 15% in just 2 months. And that has a direct impact on our cost base in U.S. dollars, and therefore, it has an implication on the margins. So yes, as you said, the first half of the year, we were expecting actually -- we were doing a lot of things, but -- and we were expecting a meaningful improvement for the second half of the year. That now has come down a little bit, that expectation because of the very recent appreciation of the U.S. dollar. Yes, we are -- as always, we keep on investing on growth -- we keep on investing in expansion. And actually, the growth levels that we are putting out are a very good indication of that strategy, well above the rest of the industry. But as you pointed out, on the margin front, we are seeing some headwind coming from some FX in Latin America.

看，如果沒有最近外匯市場的變化，我們會看到一個不錯的改善——我想說，改善1.5%到可能1.5個百分點左右。但如果你看看拉丁美洲，尤其是哥倫比亞、巴西、智利、秘魯正在發生的事情，就會發現美元在短短兩個月內升值了 5% 至 15%。這對我們以美元計算的成本基礎有直接影響，因此，它對利潤率有影響。所以，是的，正如你所說，今年上半年，我們實際上預計 - 我們做了很多事情，但是 - 我們預計下半年會有有意義的改進。由於最近美元升值，這種預期現在有所下降。是的，我們一如既往地繼續投資於增長，我們繼續投資於擴張。事實上，我們公佈的增長水平很好地體現了這一戰略，遠遠高於行業其他公司。但正如您所指出的，在保證金方面，我們看到拉丁美洲的一些外匯帶來了一些阻力。

Our next question comes from Mayank Tandon from Needham.

我們的下一個問題來自尼達姆的 Mayank Tandon。

Great. Well, for congrats on the quarter and very impressive relative to your peers. So I wanted to ask you, in terms of 2024, I think, Juan, you said you already are thinking about '24. So given the exit rate of the fourth quarter, when we do the math on the easy comps, is it reasonable to expect maybe a return to 20% growth by 2024?

偉大的。好吧，恭喜這個季度，相對於你的同行來說，這非常令人印象深刻。所以我想問你，就 2024 年而言，我想，胡安，你說過你已經在考慮“24”了。因此，考慮到第四季度的退出率，當我們對簡單的比較進行計算時，預期到 2024 年恢復到 20% 的增長是否合理？

Yes. Look, that's what the math is saying. Of course, it's still early, and we will be providing formal guidance at the beginning of 2024, but in February. But clearly, one thing is to get into next year when you are seeing sequential growth and a very different thing is when you are seeing decreases, right? So we are optimistic about next year. We are optimistic about how deals are shaping up, are getting closed. But it's -- I think it's still early to say, okay, it's going to be 2%, it's going to be 15%, it's going to be 22%, right? When you look at the market and our peers, they seem to be all in the single-digit numbers. I do believe that double-digit is okay. Maybe we need to get closer into the end of the year to see if -- what we are seeing right now is validated in the second half or if there is any change. But so far, it's looking good.

是的。你看，數學就是這麼說的。當然，現在還為時過早，我們將在 2024 年初、二月份提供正式指導。但顯然，一件事是進入明年，當你看到連續增長時，另一件事是非常不同的事情，當你看到下降時，對嗎？所以我們對明年持樂觀態度。我們對交易的進展和完成持樂觀態度。但我認為現在說，好吧，會是 2%，會是 15%，會是 22%，還為時過早，對吧？當你觀察市場和我們的同行時，你會發現它們似乎都是個位數。我確實相信兩位數是可以的。也許我們需要接近年底，看看我們現在所看到的情況是否會在下半年得到驗證，或者是否有任何變化。但到目前為止，看起來還不錯。

Got it. And then just as a quick follow-up. In terms of Disney, what's changing? Every item we look at news wise, it's bad. So could you just give us some color in terms of what's changing at Disney for you? And should we expect flat trends from here? Or do you expect actual improvement in terms of sequential growth as we move through the second half of 2024?

知道了。然後作為快速跟進。就迪士尼而言，發生了什麼變化？我們所看到的每一條新聞都是不好的。那麼您能否向我們介紹一下迪士尼為您帶來的變化？我們是否應該期待這裡的趨勢持平？或者您預計 2024 年下半年環比增長會出現實際改善嗎？

Well, I would take that one. Thank you for the question. Disney has gone through a pretty deep process of optimization of their operations. And it is interesting to see how that evolved. And during the first quarter this year and a large portion of the second quarter of this year, they have been moving things around, going up and down. And it was public announcements about many people that they let go but the scope of what they needed to do didn't change. And that still get every day more and more challenged. They are every day in a bigger need of changing and evolving their technological solutions.

好吧，我會接受那個。感謝你的提問。迪士尼經歷了相當深入的運營優化過程。看看它是如何演變的很有趣。在今年第一季度和第二季度的大部分時間裡，他們一直在上下調整。他們公開宣布解雇了許多人，但他們需要做的事情的範圍並沒有改變。而且這一點每天都面臨著越來越多的挑戰。他們每天都更需要改變和發展他們的技術解決方案。

So Disney, historically has invested a lot on technology, and we are very good partners to them and we have been in the last few months, seeing like some traction again on our services and what we do for them on the parts side, also on the direct-to-consumer side, on the Disney+, so and so, foresight. So in both places, demand is back. So we are very happy for that. And I think the trend will continue going that way, hopefully. Let's see. We never know.

因此，迪士尼歷來在技術上投入了大量資金，我們是他們非常好的合作夥伴，在過去的幾個月裡，我們再次看到我們的服務以及我們在零部件方面為他們所做的事情受到了一些關注。直接面向消費者的方面，在迪士尼+上，某某，有遠見。因此，這兩個地方的需求都回來了。所以我們對此感到非常高興。我認為這一趨勢有望繼續下去。讓我們來看看。我們不知道。

Our next question comes from Maggie Nolan from William Blair.

我們的下一個問題來自威廉·布萊爾的瑪吉·諾蘭。

I wanted to follow up on that question, but ask about clients 2 through 10, and kind of what are the puts and takes there within that cohort? What do you think it takes to bring that group back up to the company average growth?

我想跟進這個問題，但詢問 2 到 10 號客戶，以及該群體中的看跌期權和賣出期權是什麼？您認為如何才能使該集團恢復到公司的平均增長水平？

Yes. There's a combination always of customers, right? And specifically in the 2 to 10, there is just one customer that did not perform in line with the company growth and kind of took a little bit of the numbers down on average. But again, Globant has a very strong portfolio of what we call the 100-squared accounts, accounts that have the potential to do $100 million over time. And sometimes, like in this quarter, Disney was flat sequentially, and we still were able to do 4.3% sequential organic growth, 5.3% total growth sequential, right? So sometimes it's one customer, sometimes it's a group of customers, sometimes sold the company. But I think that the interesting part here is that we have an amazing portfolio of high potential accounts in every single industry. So that's another positive, right?

是的。客戶總是有組合的，對吧？特別是在 2 到 10 年間，只有一個客戶的表現與公司的增長不相符，並且平均數量有所下降。但同樣，Globant 擁有非常強大的投資組合，我們稱之為 100 平方賬戶，隨著時間的推移，這些賬戶有可能賺到 1 億美元。有時，就像本季度一樣，迪士尼環比持平，但我們仍然能夠實現 4.3% 的環比有機增長、5.3% 的環比總增長，對嗎？所以有時是一個客戶，有時是一群客戶，有時是出售公司。但我認為有趣的是，我們在每個行業都擁有令人驚嘆的高潛力客戶組合。所以這是另一個積極的方面，對吧？

I mean, we don't have a specific concentration in one single industry. Hence, we tend to be quite diversified and sometimes the revenue might come from travel, sometimes it might come from media, like this quarter, it was good. Sometimes it may be from financials, which this quarter was flattish. So all in all, we have a very diversified portfolio of the most successful companies in each industry, and that is what drives the growth in the mid and long term. Short term, you may have one customer up or down, but I think that's it.

我的意思是，我們並沒有特定地專注於單一行業。因此，我們往往相當多元化，有時收入可能來自旅行，有時可能來自媒體，就像這個季度，情況很好。有時可能來自財務狀況，本季度的財務狀況表現平平。總而言之，我們擁有由每個行業最成功的公司組成的非常多元化的投資組合，這就是推動中長期增長的動力。短期來看，你可能會有一個客戶上升或下降，但我認為僅此而已。

And regarding the pipeline, Maggie, we see the pipeline growing pretty much across the board, but it has a very clear accent on the top clients -- on those clients that you mentioned. So yes.

關於管道，瑪吉，我們看到管道幾乎全面增長，但它非常明顯地側重於頂級客戶 - 您提到的那些客戶。所以是的。

I think that one of the other thing that is important that we have been working a lot this last year is on the global accounts. We have put in a strategy in order to cover global accounts. I mean, you know that we have this regional approach in terms that we have LATAM. We have Europe, new markets, and we have U.S. But then now we have another strategy that is the 100-squared strategy that goes around all those regions. And then we have the other one that is global accounts. And those are specific teams that are covering accounts all around the world. Like, for example, I don't know, Santander is 1 of the global account that is in Europe, in LATAM, in Mexico. I mean, we have it in different kind of spaces. And we have a specific team going and keeping that accounts growth. Right now, we have named 10 global accounts, probably we are going to have 15 or 20 by the end of the year, we expect that. So I think that is another way of approaching how we are growing the account in Globant.

我認為去年我們做了大量工作的另一件重要的事情就是全球賬戶。我們制定了覆蓋全球客戶的戰略。我的意思是，你知道我們有這種區域性的方法，就像我們有拉丁美洲一樣。我們有歐洲、新市場，還有美國，但現在我們有另一個戰略，即圍繞所有這些地區的 100 平方戰略。然後我們還有另一個是全球賬戶。這些是覆蓋世界各地客戶的特定團隊。例如，我不知道，桑坦德銀行是歐洲、拉丁美洲和墨西哥的全球賬戶之一。我的意思是，我們在不同的空間都有它。我們有一個特定的團隊來保持客戶的增長。目前，我們已經指定了 10 個全球賬戶，我們預計到今年年底我們可能會擁有 15 或 20 個賬戶。所以我認為這是我們增加 Globant 賬戶的另一種方式。

Helpful. And then when you think about the announcement that you put out there about the large investment in Latin America, including the hiring efforts, can you help me understand what strategically is different for you going forward? What you're most excited about? How you're going to approach this maybe differently than what you've been doing to expand in the region in the last several years?

有幫助。然後，當您想到您發布的有關在拉丁美洲進行大規模投資（包括招聘工作）的公告時，您能否幫助我了解您未來的戰略有何不同？你最興奮的是什麼？您將如何採取與過去幾年在該地區擴張的方式不同的方式來解決這個問題？

Yes, sure. We have been expanding, as you have seen operations all around the world, in Europe, in APAC, with a heavy presence now in Middle East. And we think it's time to go back given the strategic importance and relevance that Latin America gain after certain events, international events. We believe it's time to double down on Latin America. And that's the simplest way of explaining that.

是的，當然。正如您所見，我們在世界各地、歐洲、亞太地區開展業務，我們一直在擴張，目前在中東擁有大量業務。鑑於拉丁美洲在某些事件、國際事件之後獲得的戰略重要性和相關性，我們認為是時候回去了。我們認為現在是加倍投資拉丁美洲的時候了。這是最簡單的解釋方式。

Now the specifics of that is growing our Brazil operation, growing our delivery centers in many different countries in which we operate -- we operate pretty much in all of them. So that, Maggie, is how you need to think about this. It's a long-term investment, probably 5, 6, 7 years in terms of developing talent, developing AI and expanding into the Latin American market.

現在具體來說就是發展我們的巴西業務，在我們開展業務的許多不同國家發展我們的交付中心——我們幾乎在所有這些國家都有業務。所以，瑪吉，你需要這樣思考這個問題。這是一項長期投資，在培養人才、開發人工智能和拓展拉丁美洲市場方面可能需要 5 年、6 年、7 年。

Nicely done.

做得很好。

Our next question comes from Bryan Bergin from TD Cowen.

我們的下一個問題來自 TD Cowen 的 Bryan Bergin。

I want to start on program types. So if you can talk about the nature of client conversations now related to the theme of cost efficiency programs versus more of a growth focus, certainly here more constructive tone from you here. I'm curious, have you seen a notable pickup as it relates to increase around growth-oriented projects or if it's still a little early for that?

我想從程序類型開始。因此，如果您能談論現在與成本效率計劃主題相關的客戶對話的性質，而不是更多的增長焦點，那麼您在這里肯定會更具建設性的語氣。我很好奇，您是否看到了與以增長為導向的項目增加有關的顯著回升，或者是否還為時過早？

Yes. Sure, Bryan. Thank you so much for the question. We are seeing an evolution that is happening in terms of the quality of the projects. Before they were more oriented -- there still are, but more oriented on the cost savings side. And now we're seeing that picking up a lot on the digital space, in the Globant created space in which we are providing AI projects connected to everything that you know is happening in the market. We are seeing evolution a lot in terms of how to integrate the offering of create with digital marketing, digital sales, digital branding performance into our main practices.

是的。當然，布萊恩。非常感謝你的提問。我們看到項目質量正在發生變化。在他們更注重成本之前——現在仍然有，但更注重成本節約方面。現在我們看到，在數字空間、Globant 創建的空間中，我們正在提供與市場上正在發生的一切相關的人工智能項目。在如何將創意產品與數字營銷、數字銷售、數字品牌績效整合到我們的主要實踐方面，我們看到了很大的發展。

So we are happy to see that evolution because for a long time, I would say, during the last 5, 6 quarters, the predominant kind of projects were projects based on trying to become more efficient. And now the focus still is that, but the addition of AI and everything that is happening of AI with AI. And as we said in past quarters, this AI demand will still be picking up slowly. Corporations are slower than individuals to adopt technology given the whole restraints and much larger systems that they have. So this thing will pick up, and we will see more of those interesting digital projects moving forward. But still, the cost saving kind of projects are there, and I think they will be there for some time.

因此，我們很高興看到這種演變，因為在很長一段時間內，我想說，在過去的 5、6 個季度中，主要類型的項目都是基於試圖提高效率的項目。現在的焦點仍然是人工智能的加入以及人工智能與人工智能發生的一切。正如我們在過去幾個季度所說的那樣，這種人工智能需求仍將緩慢回升。鑑於公司所擁有的整體限制和更大的系統，公司採用技術的速度比個人慢。所以這件事將會好起來，我們將看到更多有趣的數字項目向前發展。但是，節省成本的項目仍然存在，而且我認為它們會存在一段時間。

Just to add a little bit of color on that. I think we're kind of in an intersection. The cost saving and operational efficiency, it is still in the conversation, but the approach to it has changed dramatically. Like, just as an example, within health care, we're talking about telemedicine, which reduces the cost and brings better experience. But from a different perspective, it's adding new technologies, is doing the long-term development. So that is slowly starting to happen. And I think that's the change we've been seeing during Q2.

只是為了在上面添加一點顏色。我認為我們正處於十字路口。節省成本和運營效率仍然是人們談論的話題，但實現方法已經發生了巨大變化。舉個例子，在醫療保健領域，我們談論的是遠程醫療，它可以降低成本並帶來更好的體驗。但從不同的角度來看，它是在加入新技術，是在做長遠的發展。所以這正在慢慢開始發生。我認為這就是我們在第二季度看到的變化。

That's helpful. My follow-up on the enterprise platform studio. So can you give us a sense of how big this studio has gotten for you? It seems to be quite successful. And just separately, as you lean into this area further, does it change anything around how you're sourcing talent versus your heritage skill base and custom software development. Is there a different way of acquiring talent for this particular studio area?

這很有幫助。我對企業平台工作室的後續工作。那麼你能給我們介紹一下這個工作室對你來說有多大嗎？看來是相當成功了。單獨而言，當您進一步深入該領域時，它是否會改變您採購人才的方式與您的傳統技能基礎和定制軟件開發的關係。對於這個特定的工作室領域是否有不同的方式來獲取人才？

Yes. We'll get the second part of the question to be answered by Pato. I will answer the first one. There's a specific need on the enterprise side. And we're talking about the enterprises at the back end of the companies going from SAP to cloud migration to a Salesforce to backend in terms of how they take care of their own customers or their own processes, so on and so forth. There's a pretty clear need to do things in a different way in that space and bring the way of working from the digital space into this area. And people kind of -- they are tired about the old practices and the old way of doing things in that specific space. So now they are betting for players like Globant -- for Globant because we're bringing that fresh approach to that -- to those same problems.

是的。我們將讓帕托回答問題的第二部分。我來回答第一個。企業方面有特定的需求。我們談論的是處於從 SAP 到雲遷移到 Salesforce 到後端的公司後端的企業，他們如何照顧自己的客戶或自己的流程，等等。非常明顯需要在該領域以不同的方式做事，並將數字空間的工作方式引入該領域。人們有點厭倦了舊的做法和舊的做事方式在那個特定的空間。所以現在他們把賭注押在像 Globant 這樣的球員身上——押注在 Globant 身上，因為我們正在用新的方法來解決同樣的問題。

Something remarkable is how we are seeing the demand of the migration from R3 to S/4HANA in SAP, for example. But cloud migration is also, in general, very accentuated. Salesforce is picking up very good, and we are seeing a strong demand there. But in essence, what our customers are buying from us, which cannot get from others is this way of understanding how to create technology, how to implement technology in a totally different manner, reinventing that space, too. And that's 1 of our largest competitive advantages, how we do things. And that's why that enterprise network of studios that I would like to call it, is growing very fast.

例如，值得注意的是我們如何看到 SAP 中從 R3 遷移到 S/4HANA 的需求。但總體而言，雲遷移也非常突出。 Salesforce 的發展非常好，我們看到那裡的需求強勁。但從本質上講，我們的客戶從我們這裡購買的是這種理解如何創造技術、如何以完全不同的方式實施技術以及重塑該空間的方式，而這是從其他人那裡無法獲得的。這是我們最大的競爭優勢之一，即我們的做事方式。這就是為什麼我稱之為工作室企業網絡正在快速增長的原因。

In terms of talent, I will let Pato to complement.

在人才方面，我會讓帕託來補充。

I mean what we are doing is kind of mostly the same as we have been doing. The only thing that is probably what we are doing more specific things in terms of this specific skills and the partnership that we have with Salesforce and [go on all] the interpreting help us in order to achieve those talent and prepare that talent when the client ask us. But as Martin was mentioning, the way we are hiring, I mean, it's not changing because of that. We always hire at the same pace. We are -- we keep expanding our operation in terms of looking for the best talent in the world, all around the world. We are opening offices but some of them are specific going into this specific technology and it's a specific studio. That is the difference. But it's not different as when we launched the game in a studio or it's not different as we launched other studios. I mean we treat this as part of the 360 offer that we have at Globant.

我的意思是，我們正在做的事情與我們一直在做的事情大致相同。唯一的事情可能是我們正在做更具體的事情，就這種特定技能以及我們與 Salesforce 的合作夥伴關係以及[繼續]口譯幫助我們實現這些人才並為客戶做好準備。問我們。但正如馬丁提到的，我們招聘的方式，我的意思是，它並沒有因此而改變。我們總是以同樣的速度招聘。我們不斷擴大業務，在世界各地尋找最優秀的人才。我們正在開設辦事處，但其中一些辦事處專門從事這項特定的技術，並且是一個特定的工作室。這就是區別。但這與我們在工作室推出遊戲或我們在其他工作室推出遊戲時沒有什麼不同。我的意思是，我們將此視為 Globant 提供的 360 服務的一部分。

When we are a project client that wants this kind of technology and this kind of partnership is not because they want just the talent, it's because they want the talent and all that comes with that. The experience of Globant, the culture of Globant, the approach that we have in terms of solution in not only that specific topic, also the consultancy, the marketing, all the studios that Diego was mentioning that we create in this last couple of months. So I think that going to your question about the talent, we keep growing the talent. We keep helping the talent grow inside the company. We have been putting in place many initiatives that has to do. We keep training, upskilling, risking. We have to apply artificial intelligence in our Globant University in terms of doing the talent match. So we keep doing what we'd most love to do is taking care of our [Globant's] and have the best version of themselves, right?

當我們作為項目客戶想要這種技術和這種合作夥伴關係時，並不是因為他們只想要人才，而是因為他們想要人才以及隨之而來的一切。 Globant 的經驗、Globant 的文化、我們在解決方案方面的方法，不僅涉及特定主題，還涉及諮詢、營銷、迭戈提到的我們在過去幾個月創建的所有工作室。所以我認為，關於你關於人才的問題，我們不斷培養人才。我們不斷幫助人才在公司內部成長。我們已經採取了許多必須要做的舉措。我們不斷培訓、提高技能、不斷冒險。我們必須在我們的全球大學中應用人工智能來進行人才匹配。所以我們繼續做我們最喜歡做的事情就是照顧我們的[Globant]並擁有最好的自己，對嗎？

If I may chime in with a small comment. I think you're spot on with regards to -- there's definitely a difference. In fact, within the enterprise studio, most of the career path and the talent is heavily based on certification. And this is required by the partnerships, and this is a big change. But the good thing about that -- about the differences is data we -- remember that at the core we are organizing studios, and they are actually taking care of that, the full pipeline from attracting the talent to delivery. So this actually, for Globant, is our bread and butter. It's how we do things.

我可以插話一點評論嗎？我認為你說得很對——肯定是有區別的。事實上，在企業工作室內，大部分職業道路和人才在很大程度上取決於認證。這是合作夥伴所要求的，這是一個很大的變化。但好處是，關於差異，我們記住，我們的核心是組織工作室，而他們實際上正在處理從吸引人才到交付的完整流程。所以，對於 Globant 來說，這實際上是我們的麵包和黃油。這就是我們做事的方式。

One last comment on that. Sorry, you hit a very specific point. And one more comment on that is that people that joins Globant, they're not joining an enterprise studio. They are joining to be part of a story of reinvention of the industry. And this is what people like to do. People like to do and to belong to teams that are thinking very big that are trying to do something really different for the whole market. And this is the case of Globant, and this is why many of the people are joining us. Sorry, go ahead with your question.

對此的最後評論。抱歉，你說到了一個非常具體的點。對此的另一條評論是，加入 Globant 的人並不是加入企業工作室。他們的加入將成為行業重塑故事的一部分。這就是人們喜歡做的事情。人們喜歡做事並加入那些有遠大想法的團隊，這些團隊試圖為整個市場做一些真正不同的事情。這就是 Globant 的情況，這就是為什麼很多人加入我們的原因。抱歉，請繼續你的問題。

No, no, no. I was thanking you for all the details.

不不不。我感謝你提供所有細節。

Our next question comes from Surinder Sing from Jefferies.

我們的下一個問題來自 Jefferies 的 Surinder Sing。

So for my first question, just going back to the question about the studios here. It seems like every quarter you've got a new studio or 2 that you launched. At what point does that structure potentially become a bit unwieldy? And then what happens to studios, maybe you launched 2 years ago, something like the meta studio where I assume uptake probably isn't that strong?

對於我的第一個問題，回到關於工作室的問題。似乎每個季度你都會推出一兩個新工作室。該結構在什麼時候可能會變得有點笨拙？那麼工作室會發生什麼，也許你兩年前推出了類似元工作室的東西，我認為它的吸收率可能不是那麼強？

So I'll take it. So actually, one of the things we're launching studios. There's a process of maturity and evolution that makes us launch studios. And -- but we are also combining studios, whenever it makes sense. Just as an example, what we now call digital experiences encompasses lots of studios that were there before, like UI development, mobile, et cetera, et cetera, that now can be handled within one portion of the ecosystem.

所以我會接受它。實際上，這是我們推出工作室的其中一件事。有一個成熟和演變的過程促使我們成立工作室。而且，只要有必要，我們也會合併工作室。舉個例子，我們現在所說的數字體驗涵蓋了以前存在的許多工作室，例如 UI 開發、移動等，現在可以在生態系統的一部分內進行處理。

The second one is we're constantly challenging the structure and how that structure is maintained. In fact, we are actually doing changes as we speak that will announce shortly, they have to do on how we manage them, the ecosystems. So one of the things is that we created -- we reorganized the studios in 4 networks and they will be managed in a way that they will become much closer to the business, not only to the talent.

第二個是我們不斷挑戰結構以及如何維護該結構。事實上，正如我們所說，我們實際上正在做一些改變，這些改變將很快宣布，它們必須與我們管理生態系統的方式有關。因此，其中一件事是我們創建的——我們重組了 4 個網絡中的工作室，它們的管理方式將更加貼近業務，而不僅僅是人才。

So I think the number of studios that we have and how we manage them is always -- we never chew more than or bite more than what we can chew. We know where we're doing, what we're developing, what the market is requiring and what the talent is requiring as well. So with all of that combined is that we are making the announcements and launching the new studios.

所以我認為我們擁有的工作室數量以及我們管理它們的方式始終是——我們永遠不會咀嚼超過我們能咀嚼的東西。我們知道我們在哪裡，我們在開發什麼，市場需要什麼，也知道人才需要什麼。因此，我們正在發佈公告並推出新工作室。

Yes. The new studios were packed into 4 different groups, as Diego mentioned. Do you want to go through the different 4 packs?

是的。正如迭戈提到的，新工作室分為 4 個不同的組。您想體驗不同的 4 包嗎？

Yes, definitely. We have the Reinvention Studios that you're all aware that have to do with reinventing industries. We have the digital studios that are around technologies and solution types. Then we have Create, which we recently launched, it was announced on our last quarter. And last, we have Enterprise. We were talking about that before. The Enterprise Studio, which encompasses all the solutions they have -- all the solutions they have to do with enterprise and their operations.

當然是。你們都知道，我們有與重塑行業有關的重塑工作室。我們擁有圍繞技術和解決方案類型的數字工作室。然後我們有 Create，我們最近推出了它，它是在我們上個季度宣布的。最後，我們有企業版。我們之前討論過這個。 Enterprise Studio，包含他們擁有的所有解決方案——與企業及其運營相關的所有解決方案。

And the way, Diego, to think about them is, you go the full life cycle of the product or the company, and you start with the consultancy part, which is the Reinvention Studios. Then if you want to go to the Enterprise Studios where you work with the back end. Then you go to the digital studios to create your digital experience and AI so on and so forth. And then you go with the Create Studio that is about making it available for people making it known by people, just digital marketing, digital sales performance, advertising, and so on and so forth. So that full cycle is what we strive and we tackle that cycle with these 4 studio networks. Is that clear?

迭戈，思考這些問題的方法是，你要經歷產品或公司的整個生命週期，然後從諮詢部分開始，也就是 Reinvention Studios。然後，如果您想去企業工作室，在那裡您從事後端工作。然後你去數字工作室創造你的數字體驗和人工智能等等。然後你選擇 Create Studio，它的目的是讓人們可以使用它，讓人們知道它，只是數字營銷、數字銷售業績、廣告等等。因此，這個完整的周期就是我們努力的目標，我們通過這 4 個工作室網絡來解決這個週期。明白了嗎？

That's helpful. And then in terms of -- as a follow-up here, in terms of where we started the conversation with the call, which was around AI, right? There was the initial conversations that you were having with clients. I think you've kind of started doing some proof of concept projects for them. What really comes next at this point? How do you think about what the client adoption curve here is and the time frames that are maybe involved when you think about it from a client perspective?

這很有幫助。然後，作為後續行動，就我們在電話中開始對話的地方而言，這是圍繞人工智能的，對嗎？這是您與客戶進行的最初對話。我認為你已經開始為他們做一些概念驗證項目了。接下來到底會發生什麼？當您從客戶的角度考慮時，您如何看待這裡的客戶採用曲線以及可能涉及的時間範圍？

Yes. Still, the projects are exploratory and now a little bit deeper, but it's still exploratory. I believe that it will take a couple of more quarters to see that in full action and let's see how customers use it. There are hundreds of use cases that are extremely useful. They still need to prove the quality of the answers and what they are getting from that us is really to the level that they need. So I expect that given the corporations move much slower, it would take a little bit more time to see that evolution.

是的。儘管如此，這些項目仍然是探索性的，現在有點深入了，但它仍然是探索性的。我相信還需要幾個季度才能看到它完全發揮作用，讓我們看看客戶如何使用它。有數百個非常有用的用例。他們仍然需要證明答案的質量以及他們從我們那裡得到的答案確實達到了他們需要的水平。因此，我預計，鑑於企業的行動速度要慢得多，因此需要更多的時間才能看到這種演變。

Yes. I think as of today, things -- we've seen a lot of activity with what we call knowledge, augmented knowledge, which is managing a large amount of information that the organization produces in an unstructured way, and making it available to the organization under a different type of context. We've done a lot on that front. We've done a lot as when in something that's called Converse AI, which is making all your business processes accessible to one single conversation and interface, which makes it super easy for anyone working at the company, be that during the ramp-up process or everyday type of work.

是的。我認為截至今天，我們已經看到了很多與我們所謂的知識、增強知識有關的活動，這些活動正在管理組織以非結構化方式產生的大量信息，並將其提供給組織在不同類型的背景下。我們在這方面做了很多工作。我們在 Converse AI 方面做了很多工作，它使您的所有業務流程都可以通過一個對話和界面訪問，這使得在公司工作的任何人都變得非常容易，無論是在啟動過程中或日常工作。

Those typically in terms of project size are not huge. They're very good. They have a very good impact. But the thing is the landscape within AI is changing a lot. New players, new capabilities, Microsoft just announced a bunch of new capabilities being exposed through Azure. We know that Google follows immediately, et cetera, et cetera. But the good thing is we are all coming to this idea of what will be the AI application architecture in the future and what will be achievable. And we're talking about agents, we're talking about plug-ins, a much richer type of architecture, where you can control on which data you're basing your response where you can actually interact with different systems within the company and make all that seamless part of that conversation with the large language model.

就項目規模而言，這些通常並不大。他們非常好。他們有很好的影響。但問題是人工智能領域的格局正在發生很大變化。新玩家、新功能，微軟剛剛宣布通過 Azure 公開一系列新功能。我們知道谷歌立即跟進，等等。但好消息是，我們都對未來的人工智能應用架構以及可以實現的目標有了這樣的想法。我們談論的是代理，我們談論的是插件，這是一種更豐富的架構類型，您可以在其中控制您的響應基於哪些數據，您可以在其中實際與公司內的不同系統進行交互並做出與大型語言模型對話的所有無縫部分。

All of that together puts like big, large type of projects, transformational where you actually change completely as an example, the way a marketplace interacts with its clients or an OTS as an example. Those are the projects that are to come. And this is what Martin was saying. It will take a couple of quarters for us to start seeing that.

所有這些加在一起就像大型、大型類型的項目，例如您實際上完全改變的變革性項目，例如市場與其客戶或 OTS 交互的方式。這些是即將到來的項目。這就是馬丁所說的。我們需要幾個季度才能開始看到這一點。

So our next question comes from Thomas Blakey from KeyBanc.

我們的下一個問題來自 KeyBanc 的 Thomas Blakey。

Congratulations on the result. A lot of my questions have been answered, so maybe some follow-ups here on the Enterprise Studio. It seems like this is definitely accelerating here in the near term. I just wanted to just double click on that in terms of it's hard to ask about share gains with an $8.9 trillion TAM identified by Martin, but is there something going on? Is there a dynamic that you guys have relatively known for the front end, the design, ideation, it seems like you're being tapped a little harder on this kind of multi-cloud possible strategy here in the back end. I just want to ask a question there.

祝賀結果。我的很多問題都已得到解答，因此可能會在 Enterprise Studio 上進行一些後續跟進。看來這在短期內肯定會加速。我只是想雙擊它，因為很難詢問 Martin 確定的 8.9 萬億美元 TAM 的股票收益，但有什麼事情發生嗎？你們對前端、設計、構思是否有相對了解的動態，似乎你們在後端的這種多雲可能策略上受到了更大的壓力。我只是想在那裡問一個問題。

And on the AI, on Surinder's comments/questions. You've given some comments before about percentages of revenue on. Maybe we'd love to hear any updates there on what you would think about maybe looking out to '24 in terms of an increase, maybe a percentage of revenue coming from that -- those technologies?

關於人工智能，關於蘇林德的評論/問題。您之前曾就收入百分比發表過一些評論。也許我們很想听到有關您的想法的任何更新，也許會關注 24 世紀的增長，也許收入的百分比來自那些技術？

The first part of the question. Customers are tired about nonsense on the enterprise side. They are tired about lack of transparency and we are bringing absence of nonsense or bringing transparency to those projects, which is what we normally do on the digital space. So that cultural transformation of those kind of projects was driving our demand into the space. And I see that evolving and growing quite heavily moving forward.

問題的第一部分。客戶已經厭倦了企業方的廢話。他們厭倦了缺乏透明度，而我們正在消除廢話或為這些項目帶來透明度，這是我們通常在數字空間上所做的事情。因此，此類項目的文化轉型正在推動我們對該領域的需求。我看到這種發展和增長正在蓬勃發展。

The fact that people like the most is our studio model, our ports that are on the top of the organization being absolutely autonomous, taking decisions much faster than our competitors, being able to have an identity really perform in a totally different manner the idea that we are using AI to discover, for example, bottlenecks on an SAP implementation and how you operate SAP. And we are bringing those things very fast into the market, and we are being extremely successful with all those things.

人們最喜歡的事實是我們的工作室模式，我們位於組織頂層的端口是絕對自主的，比我們的競爭對手更快地做出決策，能夠擁有一個真正以完全不同的方式執行的想法的身份例如，我們正在使用人工智能來發現SAP 實施的瓶頸以及SAP 的運營方式。我們正在非常快速地將這些東西推向市場，並且我們在所有這些東西上都取得了巨大的成功。

So I'm very happy with the performance of the Enterprise Studio. And as Diego said, we're launching the Microsoft Studio, the AWS studio. We already have the Salesforce Studio, the Google Cloud implementation. So we have now the full set of the big vendors on that specific space working with us and helping with us, and they see the same thing I'm describing. They see that we are delivering these projects with a totally fresh and different approach with a totally different organization coming from a different world. And that's very attractive. And that's part of the innovation we are bringing to the industry. I don't know Juan, if you want to take the second part.

所以我對 Enterprise Studio 的性能非常滿意。正如迭戈所說，我們正在推出 Microsoft Studio，即 AWS 工作室。我們已經有了 Salesforce Studio，即 Google Cloud 實施。因此，我們現在在該特定領域擁有全套大型供應商與我們合作並為我們提供幫助，他們看到了我所描述的同樣的事情。他們看到我們正在通過來自不同世界的完全不同的組織以全新且不同的方式交付這些項目。這非常有吸引力。這是我們為行業帶來的創新的一部分。我不知道胡安，你是否想參加第二部分。

This is, let's say, an area that is -- I mean it's recent for the low end. We've been there for only a few years. So yes, it's going to get some market share from the total revenues next year. It is growing probably slightly above the rest of the industry right now -- the rest of the company right now -- and the industry as well. And that's -- but that's mainly because it's also -- we're a small player, and it's a small part of Globant so far. But definitely, it's an area where we are seeing a lot of potential and a lot of growth. So it's going to grow probably a little bit faster than the rest of the company, given its smaller size as well.

比方說，這是一個低端領域——我的意思是它最近才出現。我們在那裡只呆了幾年。所以，是的，它將從明年的總收入中獲得一些市場份額。它目前的增長可能略高於行業的其他公司——目前公司的其他公司——以及整個行業。那是——但這主要是因為——我們是一個小參與者，到目前為止，它只是 Globant 的一小部分。但毫無疑問，這是一個我們看到巨大潛力和巨大增長的領域。因此，考慮到其規模較小，它的增長可能會比公司其他部門快一點。

Our next question comes from Arvind Ramnani from Piper Sandler.

我們的下一個問題來自 Piper Sandler 的 Arvind Ramnani。

So look, I mean it's clear that you're outpacing growth versus your peers. I want to find out how much of that do you attribute to the specific work and offering you all have versus like kind of the client or industry exposure?

所以，我的意思是，很明顯，您的增長速度超過了同行。我想知道您將其中的多少歸因於你們所有人所擁有的具體工作和提供的服務，以及類似的客戶或行業曝光？

Look, there are a number of things that explain this significant higher growth than our peers. And I would say that we are all in the same market. So they have to be company-specific drivers, right? It has to be on how we are structured. It has to be in terms of studios. It has to be with how growth is part of our culture and we -- everything that we do is always thinking about what to do next, which market to attract next. Also, we started building strong marketing campaigns in the last 2 years, but especially -- for example, we were sponsor of the Men World Cup back in Qatar last year. Now we are in Australia because we are sponsors also of the Women World Cup as well. So we are being very aggressive in putting the brand out there and making it known globally.

看，有很多因素可以解釋為什麼我們的增長率比我們的同行要高得多。我想說，我們都在同一個市場。所以他們必須是公司特定的驅動程序，對嗎？這必須取決於我們的結構。它必須是在工作室方面。這必須與增長如何成為我們文化的一部分有關，我們所做的一切都始終在思考下一步該做什麼，下一步要吸引哪個市場。此外，我們在過去兩年中開始開展強有力的營銷活動，尤其是——例如，我們去年是卡塔爾男子世界杯的讚助商。現在我們在澳大利亞，因為我們也是女足世界杯的讚助商。因此，我們非常積極地推廣該品牌並使其在全球範圍內廣為人知。

As Martin mentioned during the remarks, we opened new 8 markets in the last 12 months, which is something that most companies these days are not doing. They are more like looking into inside and how to keep the lights on and keep things going. On the opposite, we are heavily pushing to expand and I think that all those things are very relevant to understand why we have been performing better than the market.

正如馬丁在講話中提到的，我們在過去 12 個月內開闢了 8 個新市場，這是目前大多數公司都沒有做的事情。他們更像是探究內部以及如何保持燈亮並讓事情繼續進行。相反，我們正在大力推動擴張，我認為所有這些事情都非常有助於理解為什麼我們的表現優於市場。

Finally, on the M&A front, we have been active looking into new technologies that we want to bring into the equation, looking into new markets, both for revenues and also for talent, we have now presence, for example, in Vietnam, in the Philippines, which we didn't have in the past. We have a stronger presence in France for revenue in Germany, in Australia, in Denmark. So I think that's kind of the drivers of why we are somehow performing very, very different from all the rest of the industry.

最後，在併購方面，我們一直在積極研究我們想要引入的新技術，研究新市場，無論是收入還是人才，我們現在已經在越南、在菲律賓，這是我們過去沒有的。我們在法國、德國、澳大利亞和丹麥的收入都有更強大的影響力。所以我認為這就是為什麼我們的表現與行業其他公司非常非常不同的原因。

When I look at your growth outside your top 10, it's very healthy at 22% growth, which is very impressive. So when I look at that outside top 20 -- is the growth bigger at some of the larger accounts, let's say, our top 10 to 20? Or is it more like broad-based across everyone?

當我看到你們在前 10 名之外的增長時，發現 22% 的增長是非常健康的，這是非常令人印象深刻的。因此，當我查看前 20 名之外的客戶時，是否有一些較大的客戶（比如說我們的前 10 名到前 20 名）的增長更大？或者它更像是在每個人中都有廣泛的基礎？

Typically, at Globant, I would say top 50 accounts are the ones that drive the company, right? Those 50, probably 40 of those are 100-squared accounts, right? Like, I think at the end of the day, what makes us grow is this focus on these very large global companies that are leaders in their own industries that are spending or investing millions or billions sometimes of dollars in technology. And we have been able, in some cases, to become a strategic partner, and we are working very hard for the other cases to also get there because that's when companies go from $1 million, $2 million, $3 million to $15 million, $20 million, $50 million, $80 million, $100 million.

通常，在 Globant，我會說排名前 50 的客戶是推動公司發展的客戶，對吧？那 50 個，可能其中 40 個是 100 平方的帳戶，對吧？就像，我認為歸根結底，讓我們成長的是對這些非常大的全球公司的關注，這些公司是各自行業的領導者，在技術上花費或投資數百萬或數十億美元，有時是數十億美元。在某些情況下，我們已經能夠成為戰略合作夥伴，並且我們正在非常努力地爭取其他案例也能實現這一目標，因為那時公司的估值從100 萬美元、200 萬美元、300 萬美元上升到1500 萬美元、2000 萬美元。 ，5000萬美元，8000萬美元，1億美元。

So that's the -- and we've been talking about 50-squared for a long time, then it became 100-squared and -- but it talks about, okay, what are we trying to achieve, which are the customers that can get us there. And I think that, that very clear mindset and focus has been very relevant to grow across the board. And yes, I mean as I was said at the beginning, I would look more into like top 50 because sometimes it's top 1, sometimes it's top 10, sometimes it's the 11 to 20 and sometimes it's 20 to 50. But overall, like, I would say that 95% of the growth is always driven by the top 50 accounts.

這就是——我們已經談論 50 平方很長一段時間了，然後它變成了 100 平方——但它談論的是，好吧，我們想要實現什麼，哪些客戶可以獲得我們在那裡。我認為，這種非常清晰的心態和重點對於全面發展非常重要。是的，我的意思是，正如我一開始所說的，我會更多地關注前50 名，因為有時是前1 名，有時是前10 名，有時是11 到20 名，有時是20 到50 名。但總的來說，就像，我想說，95% 的增長始終是由前 50 個帳戶推動的。

Yes. To add to that, the way we organize, our Salesforce has to do with that, right? It has to do with how to cover, how to partner with the main accounts. As Juan was telling, it's not only the 10 account or 20s, more like this vision of the 100-squared is how we're going to be the best partner in those accounts, the global accounts that we want to achieve. So when we are thinking about how to structure new teams, how will open a new market as was APAC, you were asking about Sydney and what we are doing here. So it has to do with that. It has to do how we are expanding Globant around the globe.

是的。除此之外，我們的組織方式、我們的 Salesforce 都與此有關，對嗎？這與如何覆蓋、如何與主要客戶合作有關。正如胡安所說，這不僅僅是 10 個或 20 個賬戶，更像是 100 平方的願景，我們將如何成為這些賬戶、我們想要實現的全球賬戶的最佳合作夥伴。因此，當我們考慮如何組建新團隊、如何像亞太地區一樣打開新市場時，您問的是悉尼以及我們在這裡做什麼。所以這與此有關。它必須關係到我們如何在全球範圍內擴展 Globant。

There's a very famous video about how we have been growing the last couple of years and opening offices. And we have been covering all the globe right now. So we have like APAC, we have Europe, we have LATAM, we have U.S., and that is a vision that we have in order to what we want to achieve. That is why we are growing so -- I mean, faster than the rest of the competitors. And probably, it has to do also with the mindset that we want to have in order talent in the company, not only the leaders of the account, all the ports in the company has this growth mindset and they have their own autonomy in terms of how to -- how they want to deliver the best quality to our clients. So I think that is also another important thing.

有一個非常著名的視頻，介紹了我們過去幾年如何發展和開設辦事處。我們現在已經覆蓋了全球。因此，我們有亞太地區、歐洲、拉丁美洲、美國，這是我們為了實現我們想要實現的目標而製定的願景。這就是為什麼我們增長得如此之快——我的意思是，比其他競爭對手增長得更快。也許，這也與我們希望公司裡有訂單人才的心態有關，不僅僅是客戶的領導，公司裡的所有港口都有這種成長心態，他們在方面有自己的自主權。如何——他們希望如何為我們的客戶提供最好的質量。所以我認為這也是另一件重要的事情。

The culture is really, really very important in Globant. Everybody is thinking about how to grow, how to cross-sell, how to present a new studio to a client, how to connect with the best partner, how to make the best partnership ever with the client that we have. So I think that, that thing is something really important. It's not only the leaders of the account. It's the complete ports that are in front of the client that they're working, and they have many KPIs that has to do with that. We are measuring all the ports in terms of the readiness in AI. I mean, how are they applying AI in their processes? I mean we have KPIs about how they're growing, about their assessment, about the performance that they are doing. I think those kind of mindset has to do with what we want to achieve, right? We want all the time to challenge [the goal], another time keep growing, I keep giving the best of that we can.

在 Globant 中，文化真的非常非常重要。每個人都在思考如何成長，如何交叉銷售，如何向客戶展示新工作室，如何與最好的合作夥伴建立聯繫，如何與我們擁有的客戶建立最好的合作夥伴關係。所以我認為，那件事非常重要。不僅僅是賬戶的領導者。它們正在工作的是客戶端面前的完整端口，並且它們有許多與之相關的 KPI。我們正在根據人工智能的準備情況來衡量所有端口。我的意思是，他們如何在流程中應用人工智能？我的意思是，我們有關於他們如何成長、他們的評估以及他們正在做的績效的關鍵績效指標。我認為這種心態與我們想要實現的目標有關，對吧？我們希望一直挑戰[目標]，有時不斷成長，我不斷盡我們所能。

We don't like to stay in the same line. We are always wanting for more. Today, we present these 4 new organization of the studios that is completely new. And that has to do what we have been looking at the business expecting -- is expecting something new. They don't want the same story all the time. They want someone that can help them to reinvent their industry in order to connect better with their clients to achieve another goals. So we are there for them. So that is something really, really important that we have all across the company, the 27,000 employees that we have today. I think that today we have been working all the time every day on that kind of culture.

我們不喜歡呆在同一條線上。我們總是想要更多。今天，我們向大家介紹這 4 個全新的工作室組織。這必須符合我們一直在關注的業務期望——期待新的東西。他們不希望一直有同樣的故事。他們希望有人能夠幫助他們重塑行業，以便更好地與客戶聯繫以實現另一個目標。所以我們隨時為他們服務。因此，這對我們整個公司（我們今天擁有 27,000 名員工）來說非常非常重要。我認為今天我們每天都在致力於這種文化。

Our next question comes from Moshe Katri from Wedbush.

我們的下一個問題來自 Wedbush 的 Moshe Katri。

Really impressive numbers, guys. Congrats. I have 2 follow-up questions here. First, you indicated that booking growth for the first half of the year compared to the second half of last year, it was up 40%. Is there any way to kind of gauge how that -- how bookings were on a quarterly basis, Q1 versus Q2, i.e., have we seen bookings accelerate from Q1 to Q2 in terms of growth rates? And then in that context, maybe some color on where you're seeing some of that booking growth coming through in terms of maybe your regions and verticals? That's my first.

伙計們，數字確實令人印象深刻。恭喜。我這裡有兩個後續問題。首先，您表示今年上半年的預訂量比去年下半年增長了40%。有什麼方法可以衡量第一季度與第二季度的季度預訂情況如何，即我們是否看到預訂量從第一季度到第二季度的增長率有所加速？然後在這種情況下，也許您在您的地區和垂直行業中看到了一些預訂增長？這是我的第一次。

I'll take it. Moshe, so I think what is important there is that we have started to build backlog again, right? If you remember back -- we reported Q1, we were saying in the second half of last year, we had consumed a big part of the backlog. So we need more bookings. We need more deals to start building backlog again. So this 40% increase in bookings in the first part of the year relative to the year before, shows that because of all these deals that we are being able to close, the backlog has started to pick up again, which to grow, you need both things, right? You need flow and you need stock. So having or starting to build backlog again helps.

我要買它。 Moshe，所以我認為重要的是我們已經開始再次積壓，對吧？如果你還記得的話——我們報告了第一季度，我們在去年下半年說過，我們已經消耗了很大一部分積壓訂單。所以我們需要更多的預訂。我們需要更多交易才能再次開始積壓訂單。因此，今年上半年的預訂量比前一年增加了 40%，這表明，由於我們能夠完成所有這些交易，積壓訂單已開始再次增加，要增長，您需要兩件事都一樣，對吧？你需要流量，也需要庫存。因此，再次積壓或開始積壓是有幫助的。

When we look at Q1 and Q2 and what is already part of Q3, I think that we have seen kind of a steady -- slow but steady improvement in every month, and that continues. We have not seen any changes. I mean, of course, we are not in the 2021 levels -- second part of 2020. But definitely, when you look at you start -- if you were to draw a line starting in July 2022, all the way to August 2023, you could definitely see how there was a big change towards the end of the year and sequential increase is pretty much in every month.

當我們看看第一季度和第二季度以及第三季度已經一部分的內容時，我認為我們每個月都看到了一種穩定的、緩慢但穩定的改善，而且這種情況還在繼續。我們沒有看到任何變化。我的意思是，當然，我們還沒有達到2021 年的水平——2020 年的第二部分。但可以肯定的是，當你看到你開始的時候——如果你要從2022 年7 月開始畫一條線，一直到2023 年8 月，您絕對可以看到到年底時發生了很大的變化，並且幾乎每個月都有連續增長。

Which industries or which regions? I think the good news is that the U.S. has waken up again. We started to see now a lot of those deals that were getting delayed, now closing. Europe has held up well during the whole process. I mean, it never really went down that much. It never really was impacted that much. And LATAM was always also kind of stable. So I would say that the main changes in the U.S. being a little bit more active. And that's what has been driving a big part of that increase in bookings, Moshe.

哪些行業或者哪些地區？我認為好消息是美國再次醒來。我們現在開始看到很多交易被推遲，現在已經結束。歐洲在整個過程中表現良好。我的意思是，它從來沒有真正下降那麼多。它從來沒有真正受到過那麼大的影響。拉丁美洲也一直很穩定。所以我想說，美國的主要變化是更加積極一些。 Moshe，這就是預訂量增長的很大一部分原因。

That's really helpful. And then if I'm looking at some of the trends during the quarter, we've seen growth moderate in North America and Latin America on a year-over-year basis versus last quarter. We've seen a nice pickup in Europe -- sorry, we've seen -- yes, we've seen a nice pickup in Europe and APAC. Should we see some of that reversing? Or maybe should we see improvements in North America and Latin America in terms of growth rates in the second half based on the bookings that you're talking about?

這真的很有幫助。然後，如果我觀察本季度的一些趨勢，我們會發現北美和拉丁美洲的增長與上季度相比同比有所放緩。我們在歐洲看到了一輛不錯的皮卡——抱歉，我們已經看到了——是的，我們在歐洲和亞太地區看到了一輛不錯的皮卡。我們應該看到這種情況出現一些逆轉嗎？或者，根據您所說的預訂量，我們是否應該看到北美和拉丁美洲下半年的增長率有所改善？

Yes. And Europe will be a little bit lower. Keep in mind that Q3 is typically a holiday season in Europe. So it tends to be softer than -- so on a sequential basis, you're going to see North America and Latin America, and new markets also picking up and probably Europe is going to be softer in terms of sequential growth going into the second half.

是的。歐洲會低一些。請記住，第三季度通常是歐洲的假期季節。因此，它往往會比 - 所以在連續的基礎上，你會看到北美和拉丁美洲以及新市場也在回升，而且歐洲在進入第二季度的連續增長方面可能會更加疲軟一半。

So with that, we will conclude the Q&A session for today. So thank you all for joining and for the time today. I will now ask Martin to provide some closing comments. Please go ahead, Martin.

那麼今天的問答環節就到此結束。感謝大家今天的參與和抽出時間。我現在請馬丁提供一些結束語。請繼續，馬丁。

Thank you very much, everyone, for participating, for giving your coverage, your support and looking forward to see you on our next earnings call. Thank you very much. Bye-bye.

非常感謝大家的參與、報導和支持，並期待在我們的下一次財報電話會議上見到您。非常感謝。再見。

Bye. See you.

再見。再見。

Thank you. Bye.

謝謝。再見。