Martin Migoya: Yeah. We are seeing very good traction. That region for us is not just Australia with eWave, but also Japan, Singapore, and some other countries close by like New Zealand. And also includes all the Middle East and — Middle East including Saudi Arabia and Abu Dhabi, I would say, mainly…
Juan Urthiague: Duabi.
Martin Migoya: And Dubai, sorry, mainly. So, those things are seeing like a lot of growth, organic growth happening right now. We got awarded many very important projects in the region. So, we’re happy to report that this is progressing quite well.
Juan Urthiague: Maybe one more to thing to add…
Moshe Katri: So, you’re getting that traction? Sorry, go ahead.
Juan Urthiague: Yeah, one more thing, Moshe, we have now the ability also to expand in the Philippines. We have the ability to expand in Moldova, in Vietnam, in other places in that region, which it’s always great, right, because this is again where we need to have a global delivery footprint. And in addition to India, which is our main and most important location out of Asia, we now can also tap into other countries in the region. And I think that’s also important.
Moshe Katri: Okay, great. And there’s a lot of talk about, obviously, the platforms that you’re launching. One of them that I actually got to know pretty well during the past few months is WaaSabi. Actually, I spoke to Tamara that attended Money 20/20. Obviously, that’s a wallet-as-a-service platform. Maybe you can talk about some of the traction there? And maybe, in general, maybe talk about some of the potential revenue contributions that you’re getting from those platforms that you mentioned also during your presentation? Thanks.
Martin Migoya: I will take the second part and I will let Diego to take the first part of WaaSabi. The contribution is interesting for this year. I think among all the platforms, we’re going to be contributing a significant amount of money, growing fast. And I would say that the pipeline and the capabilities of Globant integrating these platforms into our offer in front of our customers has progressed immensely during this year. So, this is from the qualitative part in terms of the contribution. And one more thing in terms of the qualitative relationship between customers and platforms is that it’s serving as door openers in many customers that we don’t have to start conversations, to start kind of small deals and then could progress into something much deeper.
So, I think that’s the perspective that we are seeing. It’s taking us of course a lot of effort and a lot of, I would say, focus on that, like generating new compensation programs for the Globant sales force to get aligned to that. So — but we are happy with the progress. So, Diego, I don’t know if you want to talk a little bit about the WaaSabi.
Diego Tartara: Sure, definitely. The platform — what’s interesting about the platform is that it’s actually an enabler for a new business model. There are several companies that are trying to expand their business. Typical case is, I don’t know, a telco, right? The business of providing just infrastructure and connectivity is not enough. So, they are creating an ecosystem of services that go on top of that. So having WaaSabi as their own wallet and a payment method and start expanding that ecosystem is actually a model that a lot of companies are actually implementing. It’s creating a lot of traction, especially in Latin America, where the unbanked sector is higher. And we also have connectors for the typical payment gateways here. And that’s why WaaSabi becomes super interesting. It’s superfast to implement. It has already the connectors. And you get your system up and running very fast.
Moshe Katri: Thanks. Thank you.
Patricia Pomies: Thank you.
Martin Migoya: Thank you.
Arturo Langa: Thank you, Moshe. So, our next question comes from Bryan Bergin from TD Cowen. Bryan, please go ahead. Your line is open.
Bryan Bergin: Hi, guys. Thank you. Can you comment on the demand and the contracting behavior that you’re seeing specifically among technology and telecom clients? It looks like you have a pretty strong quarter here. Just not sure if Pentalog influences that at all.
Juan Urthiague: Yeah, I’ll take that one. So, we had a recovery organically. So, it grew sequentially after a few quarters of sequential declines if you want. So, we did see a recovery. And Pentalog on top of that also helped. So, I think it was 11% sequential, if I’m not mistaken. Technology — yeah, 10.9% sequential. Out of that, about 5% was organic sequential growth, and 6% came from Pentalog. So — and I think what is interesting here is the conversations are not anymore about cutting, cutting, cutting, cutting. Now you have a mix of customers. Some customers are going back into, okay, we’ve been cutting for two years. Now we need to keep on investing, building features, building products, while you still have others that are a little bit more wait and see.
But it’s not anymore like it was in the second part of last year and the first part of this year, where 100% of tech companies were somehow reducing investments or reducing budgets. You have already started to see a number of them changing that trend and that’s what you see in the numbers.
