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Globant Reports 2024 Third Quarter Financial Results

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Strong, Broad Based Results

Third quarter revenues of $614.7 million, up 12.7% year-over-yearIFRS Diluted EPS of $0.98 for the third quarter Non-IFRS Adjusted Diluted EPS of $1.63 for the third quarter

LUXEMBOURG, Nov. 14, 2024 /PRNewswire/ — Globant (NYSE: GLOB), a digitally native company focused on reinventing businesses through innovative technology solutions, today announced results for the three and nine months ended September 30, 2024.

Please see highlights below. Note that reconciliations between IFRS and Non-IFRS financial measures are disclosed at the end of this press release.

Third Quarter 2024 Financial Highlights

Revenues rose to $614.7 million, representing 12.7% year-over-year growth.IFRS Gross Profit Margin was 36.2% compared to 36.4% in the third quarter of 2023.Non-IFRS Adjusted Gross Profit Margin was 38.5% compared to 38.2% in the third quarter of 2023.IFRS Profit from Operations Margin was 10.6% compared to 9.7% in the third quarter of 2023.Non-IFRS Adjusted Profit from Operations Margin was 15.6% compared to 15.3% in the third quarter of 2023.IFRS Diluted EPS was $0.98 compared to $0.98 in the third quarter of 2023.Non-IFRS Adjusted Diluted EPS was $1.63 compared to $1.48 in the third quarter of 2023.

Nine months ended September 30, 2024 Financial Highlights

Revenues rose to $1,773.2 million, representing 17.0% year-over-year growth.IFRS Gross Profit Margin was 35.8% compared to 36.1% in the first nine months of 2023.Non-IFRS Adjusted Gross Profit Margin was 38.2% compared to 38.2% in the first nine months of 2023.IFRS Profit from Operations Margin was 9.4% compared to 9.5% in the first nine months of 2023.Non-IFRS Adjusted Profit from Operations Margin was 15.2% compared to 15.1% in the first nine months of 2023.IFRS Diluted EPS was $2.88 compared to $2.68 in the first nine months of 2023.Non-IFRS Adjusted Diluted EPS was $4.67 compared to $4.12 in the first nine months of 2023.

Other Metrics as of and for the quarter ended September 30, 2024

Cash and cash equivalents and Short-term investments were $213.5 million as of September 30, 2024, a decrease of $109.8 million from $323.3 million as of December 31, 2023, driven mainly by the expansion into new geographies and a number of M&A earnout payments. As of September 30, 2024, we had a total amount of $165 million drawn from our credit facility.Globant completed the third quarter of 2024 with 29,998 Globers, 27,927 of whom were technology, design and innovation professionals.The geographic revenue breakdown for the third quarter of 2024 was as follows: 55.7% from North America (top country: US), 21.8% from Latin America (top country: Argentina), 17.6% from Europe (top country: Spain) and 4.9% from New Markets1 (top country: Saudi Arabia).Globant’s top customer, top five customers and top ten customers for the third quarter of 2024 represented 9.1%, 21.0% and 30.1% of revenues, respectively.During the twelve months ended September 30, 2024, Globant served a total of 969 customers (with revenues over $100,000 in the last twelve months) and continued to increase its wallet share, with 331 accounts generating more than $1 million of annual revenues, compared to 305 for the same period one year ago.In terms of currencies, 66.6% of Globant’s revenues for the third quarter of 2024 were denominated in US dollars.

“As we reflect on another remarkable quarter, I am thrilled to share that Globant continues on a trajectory of strong growth, solidifying our role as an industry leader. The level of demand we are witnessing across verticals and markets fuels our optimism for continued expansion in 2024. Our strategic investments in AI have lead to year-to-date AI-related initiatives increasing by 120% compared to the same period last year, enhancing our capabilities and driving productivity gains that translate into unique client experiences. With a strong pipeline and a commitment to redefining industries through our Studios, we are well-positioned to lead in this new era of digital innovation,” said Martín Migoya, Globant’s CEO and co-founder.

“As we conclude this quarter, I am pleased to report that Globant has achieved another quarter of record revenues, at $614.7 million, reflecting strong sequential growth driven by our top client and several key accounts. This performance aligns with our guidance and showcases our ability to enhance profitability while maintaining a prudent balance sheet. Our healthy margins are a reflection to our focus on profitability, while we see early recovery signs in specific verticals that previously faced headwinds. We are confident in our ability to sustain this momentum and build on our strong performance as we approach 2025,” explained Juan Urthiague, Globant’s CFO.

2024 Fourth Quarter and Full Year Outlook

Based on current market conditions, Globant is providing the following estimates for the fourth quarter and the full year of 2024:

Fourth quarter 2024 Revenues are estimated to be in the range of $642.0 million to $648.0 million, or 10.6% to 11.6% year-over-year growth.Fourth quarter 2024 Non-IFRS Adjusted Profit from Operations Margin is estimated to be in the range of 15.0% to 16.0%.Fourth quarter 2024 Non-IFRS Adjusted Diluted EPS is estimated to be in the range of $1.71 to $1.75 (assuming an average of 44.7 million diluted shares outstanding during the fourth quarter).Fiscal year 2024 Revenues are estimated to be in the range of $2,415.0 million to $2,421.0 million, implying a 15.2% to 15.5% year-over-year revenue growth.Fiscal year 2024 Non-IFRS Adjusted Profit from Operations Margin is estimated to be in the range of 15.0% to 15.5%.Fiscal year 2024 Non-IFRS Adjusted Diluted EPS is estimated to be in the range of $6.37 to $6.43 (assuming an average of 44.5 million diluted shares outstanding during 2024).

Conference Call and Webcast

Martin Migoya, Globant’s CEO and co-founder, Juan Urthiague, Globant’s CFO, Patricia Pomies, Globant’s COO, and Diego Tártara, Globant’s  CTO, will discuss the third quarter 2024 results in a video conference call today beginning at 4:30pm ET.

Video conference call access information is:
https://more.globant.com/F3Q24EarningsCall
Webcast http://investors.globant.com/ 

About Globant (NYSE:GLOB)
At Globant, we create the digitally-native products that people love. We bridge the gap between businesses and consumers through technology and creativity, leveraging our expertise in AI. We dare to digitally transform organizations and strive to delight their customers.

We have more than 29,900 employees and we are present in more than 30 countries across 5 continents working for companies like Google, Electronic Arts and Santander, among others.

We were named a Worldwide Leader in CX Improvement by IDC MarketScape report. We were also featured as a business case study at Harvard, MIT and Stanford. We are a member of the Cybersecurity Tech Accord.

For more information, please visit www.globant.com

Non-IFRS Financial Measures

While the financial figures included in this press release have been computed in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (“IASB”), applicable to interim periods, this announcement does not contain sufficient information to constitute an interim financial report as defined in International Accounting Standards 34, “Interim Financial Reporting” nor a financial statement as defined by International Accounting Standards 1 “Presentation of Financial Statements”. The financial information in this press release has not been audited.

Globant provides non-IFRS financial measures in addition to reported IFRS results prepared in accordance with IFRS. Management believes these measures help illustrate underlying trends in the company’s business and uses the non-IFRS financial measures to establish budgets and operational goals, communicated internally and externally, for managing the company’s business and evaluating its performance. The company anticipates that it will continue to report both IFRS and certain non-IFRS financial measures in its financial results, including non-IFRS measures that exclude share-based compensation expense, depreciation and amortization, acquisition-related charges, and the related effect on income taxes of the pre-tax adjustments. Because the company’s non-IFRS financial measures are not calculated according to IFRS, these measures are not comparable to IFRS and may not necessarily be comparable to similarly described non-IFRS measures reported by other companies within the company’s industry. Consequently, Globant’s non-IFRS financial measures should not be evaluated in isolation or supplant comparable IFRS measures, but, rather, should be considered together with its condensed interim consolidated statements of financial position as of September 30, 2024 and December 31, 2023 and its condensed interim consolidated statements of comprehensive income for the three and nine months ended September 30, 2024 and 2023, prepared in accordance with International Accounting Standard (“IAS”) 34, “Interim Financial Reporting”.

Globant is not providing a quantitative reconciliation of forward-looking Non-IFRS Adjusted Profit from Operations Margin or Non-IFRS Adjusted Diluted EPS to the most directly comparable IFRS measure because it is unable to predict with reasonable certainty the ultimate outcome of certain significant items without unreasonable effort. These items include, but are not limited to, share-based compensation expense, acquisition-related charges, and the tax effect of non-IFRS adjustments. These items are uncertain, depend on various factors, and could have a material impact on IFRS reported results for the guidance period.

Forward Looking Statements

In addition to historical information, this release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. These statements include, but are not limited to, statements regarding our future financial and operating performance, including our outlook and guidance, and our strategies, priorities and business plans. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could impact our actual results include: our ability to maintain current resource utilization rates and productivity levels; our ability to manage attrition and attract and retain highly-skilled IT professionals; our ability to accurately price our client contracts; our ability to achieve our anticipated growth; our ability to effectively manage our rapid growth; our ability to retain our senior management team and other key employees; our ability to continue to innovate and remain at the forefront of emerging technologies and related market trends; our ability to retain our business relationships and client contracts; our ability to manage the impact of global adverse economic conditions; our ability to manage uncertainty concerning the instability in the current economic, political and social environment in Latin America; and other factors discussed under the heading “Risk Factors” in our most recent Form 20-F filed with the U.S. Securities and Exchange Commission and any other risk factors we include in subsequent reports on Form 6-K.

Because of these uncertainties, you should not make any investment decisions based on our estimates and forward-looking statements. Except as required by law, we undertake no obligation to publicly update any forward-looking statements for any reason after the date of this press release whether as a result of new information, future events or otherwise.

 

Globant S.A.
Condensed Interim Consolidated Statements of Comprehensive Income
(In thousands of U.S. dollars, except per share amounts, unaudited)

Nine Months Ended

Three Months Ended

September 30, 2024

September 30, 2023

September 30, 2024

September 30, 2023

Revenues

1,773,206

1,515,234

614,667

545,282

Cost of revenues

(1,139,161)

(967,794)

(392,392)

(346,980)

Gross profit

634,045

547,440

222,275

198,302

Selling, general and administrative expenses

(460,877)

(390,064)

(154,178)

(142,531)

Net impairment losses on financial assets

(8,994)

(13,979)

(3,667)

(2,621)

Other operating income and expenses, net

2,738

614

777

—

Profit from operations

166,912

144,011

65,207

53,150

Finance income

3,876

3,500

1,349

1,324

Finance expense

(20,536)

(15,063)

(7,034)

(5,661)

Other financial results, net

7,341

11,473

1,735

3,044

Financial results, net

(9,319)

(90)

(3,950)

(1,293)

Share of results of investment in associates

161

185

105

170

Other income and expenses, net

6,142

4,075

(4,464)

2,774

Profit before income tax

163,896

148,181

56,898

54,801

Income tax

(34,401)

(31,067)

(11,357)

(10,978)

Net income for the period

129,495

117,114

45,541

43,823

Other comprehensive income, net of income tax effects

Items that may be reclassified subsequently to profit and loss:

– Exchange differences on translating foreign operations

(20,458)

(28,761)

22,555

(30,013)

– Net change in fair value on financial assets measured at FVOCI

1,019

(2,316)

—

15

– Gains and losses on cash flow hedges

(12,768)

117

365

(3,762)

Total comprehensive income for the period

97,288

86,154

68,461

10,063

Net income attributable to:

Owners of the Company

127,324

116,405

43,606

42,993

Non-controlling interest

2,171

709

1,935

830

Net income for the period

129,495

117,114

45,541

43,823

Total comprehensive income for the period attributable to:

Owners of the Company

94,864

85,278

64,266

10,251

Non-controlling interest

2,424

876

4,195

(188)

Total comprehensive income for the period

97,288

86,154

68,461

10,063

Earnings per share

Basic

2.94

2.74

1.00

1.01

Diluted

2.88

2.68

0.98

0.98

Weighted average of outstanding shares (in thousands)

Basic

43,248

42,474

43,419

42,696

Diluted

44,271

43,442

44,442

43,664

 

Globant S.A.
Condensed Interim Consolidated Statements of Financial Position as of September 30, 2024 and December 31, 2023
(In thousands of U.S. dollars, unaudited)

September 30, 2024

December 31, 2023

ASSETS

Current assets

Cash and cash equivalents

199,031

307,223

Investments

14,425

16,070

Trade receivables

631,632

499,283

Other assets

24,033

31,753

Other receivables

60,417

54,786

Other financial assets

3,795

15,418

Total current assets

933,333

924,533

Non-current assets

Investments

2,212

1,833

Other assets

6,358

4,088

Other receivables

28,634

26,475

Deferred tax assets

67,528

60,777

Investment in associates

1,587

1,426

Other financial assets

37,010

34,864

Property and equipment

152,440

162,736

Intangible assets

286,161

285,661

Right-of-use assets

124,159

119,400

Goodwill

1,259,622

1,105,073

Total non-current assets

1,965,711

1,802,333

TOTAL ASSETS

2,899,044

2,726,866

LIABILITIES

Current liabilities

Trade payables

102,202

124,545

Payroll and social security taxes payable

225,193

221,843

Borrowings

186,284

156,916

Other financial liabilities

105,473

68,750

Lease liabilities

29,744

47,852

Tax liabilities

25,858

33,229

Income tax payable

11,043

11,287

Other liabilities

465

896

Total current liabilities

686,262

665,318

Non-current liabilities

Trade payables

2,627

2,981

Borrowings

1,220

2,191

Other financial liabilities

117,132

135,238

Lease liabilities

90,421

70,884

Deferred tax liabilities

18,381

21,098

Income tax payable

6,526

—

Payroll and social security taxes payable

5,050

5,139

Provisions for contingencies

17,367

28,336

Total non-current liabilities

258,724

265,867

TOTAL LIABILITIES

944,986

931,185

Capital and reserves

Issued capital

52,286

51,705

Additional paid-in capital

1,087,711

1,022,918

Other reserves

(74,508)

(42,048)

Retained earnings

824,413

697,089

Total equity attributable to owners of the Company

1,889,902

1,729,664

Non-controlling interests

64,156

66,017

Total equity

1,954,058

1,795,681

TOTAL EQUITY AND LIABILITIES

2,899,044

2,726,866

 

Globant S.A.
Selected Cash Flow Data
(In thousands of U.S. dollars, unaudited)

Three Months Ended

September 30, 2024

September 30, 2023

Net Income for the period

45,541

43,823

Non-cash adjustments, taxes and others

76,819

53,723

Changes in working capital

(31,823)

(10,141)

Cash flows from operating activities

90,537

87,405

Capital expenditures

(20,810)

(26,758)

Cash flows from investing activities

(89,596)

(140,663)

Cash flows from financing activities

41,044

7,931

Net increase/decrease in cash & cash equivalents

41,985

(45,327)

 

Globant S.A.
Supplemental Non-IFRS Financial Information
(In thousands of U.S. dollars, unaudited)

Nine Months Ended

Three Months Ended

September 30, 2024

September 30, 2023

September 30, 2024

September 30, 2023

Reconciliation of adjusted gross profit

Gross profit

634,045

547,440

222,275

198,302

Depreciation and amortization expense

25,415

20,612

9,457

7,579

Share-based compensation expense – Equity settled

18,010

10,976

5,109

2,198

Adjusted gross profit

677,470

579,028

236,841

208,079

Adjusted gross profit margin

38.2 %

38.2 %

38.5 %

38.2 %

Reconciliation of selling, general and administrative expenses

Selling, general and administrative expenses

(460,877)

(390,064)

(154,178)

(142,531)

Depreciation and amortization expense

74,751

61,501

24,244

21,012

Share-based compensation expense – Equity settled

42,722

41,442

16,008

16,447

Acquisition-related charges (a)

17,230

14,488

1,646

5,370

Adjusted selling, general and administrative expenses

(326,174)

(272,633)

(112,280)

(99,702)

Adjusted selling, general and administrative expenses as % of revenues

(18.4) %

(18.0) %

(18.3) %

(18.3) %

Reconciliation of adjusted profit from operations

Profit from operations

166,912

144,011

65,207

53,150

Share-based compensation expense – Equity settled

60,732

52,418

21,117

18,645

Acquisition-related charges (a)

42,668

32,577

9,788

11,435

Adjusted profit from operations

270,312

229,006

96,112

83,230

Adjusted profit from operations margin

15.2 %

15.1 %

15.6 %

15.3 %

Reconciliation of net income for the period

Net income for the period

127,324

116,405

43,606

42,993

Share-based compensation expense – Equity settled

60,618

52,377

21,192

18,628

Acquisition-related charges (a)

41,334

30,639

14,954

9,878

Tax effect of non-IFRS adjustments

(22,516)

(20,380)

(7,399)

(6,720)

Adjusted net income

206,760

179,041

72,353

64,779

Adjusted net income margin

11.7 %

11.8 %

11.8 %

11.9 %

Calculation of adjusted diluted EPS

Adjusted net income

206,760

179,041

72,353

64,779

Diluted shares

44,271

43,442

44,442

43,664

Adjusted diluted EPS

4.67

4.12

1.63

1.48

(a)      Acquisition-related charges include, when applicable, amortization of purchased intangible assets included in depreciation and amortization expense line on our consolidated statements of comprehensive income, interest charges on acquisition-related indebtedness, external deal costs, acquisition-related retention bonuses, integration costs, changes in the fair value of contingent consideration liabilities, and other acquisition-related costs. We cannot provide acquisition-related charges on a forward-looking basis without unreasonable effort as such charges may fluctuate based on the timing, size, and complexity of future acquisitions as well as other uncertainty inherent in mergers and acquisitions.

 

Globant S.A.
Schedule of Supplemental Information (unaudited)

Metrics

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Q3 2024

Total Employees

27,505

29,150

28,991

29,112

29,998

IT Professionals

25,575

27,116

26,933

27,133

27,927

North America Revenues %

58.9

57.4

56.0

56.3

55.7

Latin America Revenues %

21.6

22.9

22.9

23.0

21.8

Europe Revenues %

15.9

15.8

17.2

16.9

17.6

New Markets Revenues %

3.6

3.9

3.9

3.8

4.9

USD Revenues %

72.5

68.6

68.4

67.1

66.6

Other Currencies Revenues %

27.5

31.4

31.6

32.9

33.4

Top Customer %

8.7

8.2

8.3

8.3

9.1

Top 5 Customers %

22.5

21.4

21.8

21.0

21.0

Top 10 Customers %

32.2

30.8

30.1

30.3

30.1

Customers Served (Last Twelve Months)*

889

930

955

958

969

Customers with >$1M in Revenues (Last Twelve Months)

305

311

318

329

331

(*) Represents customers with more than $100,000 in revenues in the last twelve months.

 

Investor Relations Contact:
Arturo Langa, Globant 
investors@globant.com
+1 (877) 215-5230

Media Contact:
Wanda Weigert, Globant
pr@globant.com
+1 (877) 215-5230

1Represents Asia, Oceania and the Middle East.

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Technology

Trainocate Wins Cisco Learning Partner of the Year – APJC for Second Consecutive Year

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November 15, 2024

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BANGALORE, India, Nov. 15, 2024 /PRNewswire/ — Trainocate Holdings, a leading global provider of technology and business training solutions, today announced that it has been awarded the Cisco Learning Partner of the Year 2024 for Asia Pacific, Japan, and China (APJC) for the second year in a row.

This prestigious award recognizes Trainocate’s outstanding performance, commitment to customer success, and dedication to delivering high-quality Cisco training programs across the region.

“To be recognized once was an honour beyond words, but to be bestowed this distinction again is truly humbling and a testament to the unwavering support and encouragement of those who have walked this journey with us,” said Takashi Ozawa, President & CEO of Trainocate Holdings. “We are deeply grateful for everyone who has been a part of our success. This award reflects our core values of collaboration, excellence, and customer centricity, and it inspires us to continue upholding them in everything we do.”

“Receiving the Cisco Learning Partner of the Year award for a second consecutive year is a true reflection of our team’s dedication and our unwavering pursuit of excellence,” said Khor Hee Soo, CTO of Trainocate Holdings, Managing Director for India, and Chairman for Sri Lanka and UAE. “This recognition not only celebrates the hard work of everyone at Trainocate but also reinforces our commitment to empowering individuals and organizations across the APJC region with transformative learning solutions. We are deeply grateful to Cisco for their partnership and look forward to continuing our journey of innovation and impact in the learning and development space.”

During the award ceremony held on 23 October 2024, Cisco highlighted Trainocate’s impressive achievements within the past year, including:

32% of Instructor-Led Training (ILT) seats sold in the APJC region.45% of Cisco U subscriptions sold in the APJC region.Exceptional learner satisfaction on score of 94%.

These accomplishments demonstrate Trainocate’s strong track record of delivering impactful and engaging learning experiences that help professionals achieve their career goals and organizations drive digital transformation.

As a Cisco Platinum Learning Partner, Trainocate offers a comprehensive portfolio of authorized Cisco training courses, certifications, and learning solutions. With over 29 years of experience, Trainocate is a trusted partner for organizations seeking to upskill their workforce and stay ahead of the curve in today’s rapidly evolving technology landscape.

About Trainocate Holdings

Trainocate Holdings is a leading provider of IT and professional training, offering a comprehensive range of courses and certifications across various domains.

Boasting a global presence in 22 countries (and counting!) and a commitment to excellence, Trainocate empowers individuals and organizations to achieve their full potential through continuous learning and development.

With 30+ authorized training partnerships and countless awards from leading technology vendors, you’re guaranteed learning from the industry’s elite when you #GetTrainocated.

For more information, visit Trainocate’s website www.trainocate.com.

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Technology

Can Independent Physicians Survive in 2025?

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39 minutes ago

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November 15, 2024

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Learn How at an Exclusive Webinar on Nov. 20th Hosted by Medical Economics and Specialdocs 

CHICAGO, Nov. 14, 2024 /PRNewswire/ — In healthcare change is inevitable, but for independent physicians already facing an uncertain economic forecast in 2025, the prospect of a new administration is sparking even more concern. To help decipher the implications of an ever-evolving regulatory and reimbursement landscape, Medical Economics has teamed up with Terry Bauer, CEO of concierge medicine pioneer Specialdocs Consultants, and Max Reiboldt, Chairman of leading healthcare advisory, Coker, to present an exclusive, informational webinar for physicians on November 20th. Bauer and Reiboldt bring insights gained collectively over more than a century advising physicians on career strategies, to address the headwinds that threaten to topple private medical practices, and explain why concierge medicine offers one of today’s most viable pathways to retaining independence. 

Prominent healthcare industry experts share how physicians can thrive in 2025: join our complimentary webinar on Nov. 20th.

CLICK HERE to register for “2025 Forecast for Physicians: Financial Headwinds, Continued Burnout, and How Concierge Medicine May Be the Cure for What Ails You” at 7 pm CST/8 pm EST on Wednesday, November 20th.

“Now representing just 22% of all practices,1 the independent physician is in danger of disappearing altogether amid unrelenting financial, professional and personal pressures,” says Bauer. “Among other challenges, rising costs to operate a traditional practice and continual cuts to Medicare reimbursements have contributed to an overall 29% downward slide in Medicare compensation over the last two decades.”2

He continues: “Yet we know that a change to our membership medicine model can prove lifesaving, restoring practice sustainability and ushering in a new era of unparalleled career satisfaction. We’ve long championed this solution for physicians in private practice, who have been consistently unappreciated for the very real value they bring to their patients and the health system.” 

Adds Reiboldt: “Physicians in private practice are still a cornerstone of our healthcare system yet are facing challenges that threaten their existence. More and more physicians are affiliating with capital and/or strategic partners, which is not a bad thing but still threatens their independence and private structure.”

A number of crucial issues will be examined during the webinar. “We will approach these with sensitivity as all providers (physicians, health systems, private and public investors, et al) share in both the credit and the blame for our current state of affairs,” says Reiboldt.

Topics will include:

The new administration’s approach to lowering costs, reducing regulatory barriers to consolidation and expanding price transparency mandates for healthcare services.Future use of AI and other technologies to drive greater efficiencies, quality of care.The outlook for primary care providers and programs such as Medicare Advantage, risk-based reimbursement, quality incentives.How upcoming changes in reimbursement and regulations impact the financial viability of traditional practices.Strategies for maintaining or regaining independence as a practitioner; concierge medicine as a model offering sustainable financial security and work-life balance.

About Our Speakers

Terry Bauer is CEO of Specialdocs Consultants. With more than three decades of healthcare leadership experience, Terry has a reputation for bringing about positive change as a strategist, builder, and driver of successful, high-performance companies. Terry’s mission at Specialdocs: to elevate the profile and escalate the growth of this firm that has pioneered the transition from traditional to independent concierge medicine practices, with a focus on expanding the reach and portfolio of high-quality services provided to the company’s growing national network of exceptional physicians. Terry’s career includes a long tenure as co-founder, president, CEO, and director of Orion HealthCorp, a national physician services and management organization. He has served on the board of directors of Specialdocs since Shore Capital Partners invested in the firm in 2015, and became CEO of the company in 2016.

Max Reiboldt, CPA, is Chairman of Coker. His 45 years of work in business and industry, primarily involving healthcare providers, has given him invaluable experience. He handles strategic, tactical, financial, and management issues that health systems, physicians, and other healthcare entities and/or investors face in today’s evolving marketplace. Max understands the nuances of the healthcare industry in a dynamic age, and how healthcare organizations need to maintain viability in a highly competitive market. Whether a transitional provider or a more trailblazing healthcare entity, Max works to provide sound solutions to everyday and long-range challenges with a hands-on approach much valued by his clients. Max oversees Coker’s services as part of the Executive Committee, and maintains his passion for working with clients and organizations of all sizes.

Physician’s Advocacy Institute reportAMA 2024 Medicare Updates

Media Contact:
Mindy Kolof
mkolof@specialdocs.com 
8479213271

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SOURCE Specialdocs Consultants

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Technology

Rokid Glasses: Where AI Meets AR, Rivaling Meta’s Ray-Ban in an Exclusive Unveiling at Rokid Jungle 2024

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November 15, 2024

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REDWOOD CITY, Calif., Nov. 14, 2024 /PRNewswire/ — Rokid is poised to unveil its groundbreaking next-generation smart glasses, the Rokid Glasses, at the highly anticipated Rokid Jungle 2024 event, set to take place on 18 November in Hangzhou, China. Seamlessly integrating cutting-edge artificial intelligence with augmented reality, Rokid Glasses represent the pinnacle of innovation. As the most eagerly awaited event in the augmented reality calendar, Rokid Jungle 2024 is destined to be the largest and most consequential gathering of its kind on the global stage. With an impressive turnout expected of over 1,000 distinguished attendees, the event will serve as a landmark occasion, bringing together partners, visionaries, and industry leaders. The launch of the Rokid Glasses promises to elevate the smart daily experience to unprecedented heights, setting new standards in the realm of wearable technology.

Rokid Glasses: Transforming AI and AR into an Essential Daily Gadget for All
Rokid Glasses combine style, comfort, and lightweight design with intuitive, AI-powered features. Integrated with Alibaba’s Tongyi Qianwen AI, Rokid Glasses offer a range of capabilities, including object recognition, text translation, and even solving complex math problems. It can calculate the calorie content of food or provide real-time language translation, making it an indispensable tool for travelers.

Empowered by Zhi Xiaobao, Alibaba’s AI assistant, Rokid Glasses allow users to take full control of their world with simple voice commands, whether booking a ride or ordering a coffee. The advanced voiceprint recognition technology also facilitates secure payments via Alipay, ensuring a seamless and trusted connection to the user’s phone. Alipay’s cutting-edge AI audio detection technology guarantees top-tier security and fraud prevention during transactions.

A standout feature of Rokid Glasses is the ability to view message notifications directly through the glasses, effectively replacing the need for a phone screen. This functionality hints at a future where Rokid Glasses may evolve into a central hub of daily life, potentially replacing smartphones altogether as an essential tech gadget. “We’ve crafted our new glasses to redefine the user experience, bringing the world’s first AI+AR glasses to daily life,” says Misa Zhu, Founder and CEO of Rokid. “Our mission is to make high-quality AI+AR glasses accessible to everyone, and this launch marks a bold step in that direction.” True to Rokid’s ethos of Leave Nobody Behind, the Rokid Glasses bridge gaps in accessibility, usability, and comfort, ensuring that everyone can experience the transformative power of innovation.

Rokid’s Role to Impact Global Tech Arena and Its Commitments for leading AR Industry
Rokid is making significant strides in transforming the museum experience using augmented reality (AR) technology to enhance visitor engagement. By providing immersive, interactive experiences, Rokid brings historical artifacts and exhibitions to life in exciting new ways. With over 2.5 million users benefiting from its AR glasses and more than 300,000 of these users have made actual purchases and are actively engaged with the devices. Even more striking is the fact that Rokid users spend an average of 2 hours and 45 minutes daily with Rokid glasses—this not only underscores the strong appeal of Rokid’s products but also reflects the growing consumer interest in and adoption of augmented reality technology.

Rokid’s ecosystem continues to flourish, with over 6,200 registered developers, highlighting the company’s significant progress in cultivating an open and thriving ecosystem. As the race in augmented reality heats up, major players are competing for dominance in this rapidly evolving space. With AR technology expanding its global footprint, the question remains: who will emerge as the true leader in the AR industry? While the collaboration between Ray-Ban and Meta has brought new energy to the smart glasses market, Meta continues to face challenges. Despite a decade of investment in XR, VR, and AR, Meta has made strides with VR hardware like the Meta Quest but still struggles with slow user adoption and limited AR functionality.

Rokid Jungle 2024: A Decade of Breaking Boundaries in Augmented Reality
Rokid Jungle 2024 commemorates a significant milestone: Rokid’s 10th anniversary and the beginning of the next decade of AR innovation. From its founding in 2014, Rokid has maintained a relentless focus on human-computer interaction, driving the evolution of AR technology through unwavering dedication to innovation. From setting industry standards with the original Rokid Glass to the highly regarded consumer product Rokid Air, and now with the trendsetting AR Studio and AR Lite, Rokid has played a key role in propelling the AR industry forward.

With the launch of the latest Rokid Glasses, the company reaffirms its leadership in the new wave of AR technological innovation. To mark this remarkable milestone, Rokid is delighted to offer a $20 benefit on all purchases made via the official website, using the code ROKID10 at checkout. Looking ahead, Rokid is thrilled to showcase its innovations at CES 2025, where will continue to lead the charge in AR technology. Rokid looks forward to seeing you there and sharing the next chapter of this exciting journey.

Email: pr@rokid.com
Rokid Official Website https://global.rokid.com/

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SOURCE Rokid

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