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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 20-F

(Mark One)
☐REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934
OR

For the fiscal year ended December 31, 2024

OR
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
☐SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of event requiring this shell company report
For the transition period from to .

Commission file number:001-36535

(Exact name of Registrant as specified in its charter)

Not applicable

(Translation of Registrant's name into English)

Grand Duchy of Luxembourg

(Jurisdiction of incorporation or organization)

37A Avenue J.F. Kennedy

L-1855, Luxembourg

Tel: + 352 20 30 15 96

(Address of principal executive offices)

Patricio Pablo Rojo

General Counsel

37A Avenue J.F. Kennedy

L-1855, Luxembourg

pablo.rojo@globant.com

  • 352 20 30 15 96

(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act.

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common shares, nominal value $ 1.20 per shareGLOBNew York Stock Exchange

Securities registered or to be registered pursuant to Section 12(g) of the Act.

None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act.

None

Indicate the number of outstanding shares of each of the issuer's classes of capital or common stock as of the close of the period covered by the annual report:44,029,319 common shares.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ☒Yes ☐ No

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.☐ Yes ☒No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definitions of "large accelerated filer," "accelerated filer," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒Accelerated filer ☐Non-accelerated filer ☐Emerging growth company☐

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

† The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

U.S. GAAP☐ International Financial Reporting Standards as issued by the International Accounting Standards Board ☒

Other☐

If "Other" has been checked in response to the previous question indicate by check mark which financial statement item the registrant has elected to follow.☐ Item 17☐ Item 18

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐ Yes☒ No

TABLE OF CONTENTS

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS1
CURRENCY PRESENTATION AND DEFINITIONS1
PRESENTATION OF FINANCIAL INFORMATION2
PRESENTATION OF INDUSTRY AND MARKET DATA3
PART I4
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS4
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE4
ITEM 3. KEY INFORMATION4
A. [Reserved]4
B. Capitalization and Indebtedness4
C. Reasons for the Offer and Use of Proceeds4
D. Risk Factors4
ITEM 4. INFORMATION ON THE COMPANY24
A. History and Development of the Company24
B. Business Overview26
C. Organizational Structure45
D. Property, Plant and Equipment45
ITEM 4A. UNRESOLVED STAFF COMMENTS45
ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS46
A. Operating Results46
B. Liquidity and Capital Resources55
C. Research and Development, Patents and Licenses, etc.59
D. Trend Information59
E. Critical Accounting Estimates59
ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES59
A. Directors and Senior Management60
B. Compensation66
C. Board Practices71
D. Employees74
E. Share Ownership82
ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS82
A. Major Shareholders82
B. Related Party Transactions84
C. Interests of Experts and Counsel84
ITEM 8. FINANCIAL INFORMATION84
A. Consolidated statements and other financial information84
B. Significant Changes85
ITEM 9. THE OFFER AND LISTING85
A. Offering and listing details85
B. Plan of Distribution86
C. Markets86
D. Selling Shareholders86
E. Dilution86
F. Expenses of the Issue86
ITEM 10. ADDITIONAL INFORMATION86
A. Share capital86
B. Memorandum and Articles of Association86
C. Material Contracts93
D. Exchange Controls93
E. Taxation93
F. Dividends and Paying Agents100
G. Statement by Experts101
H. Documents on Display101
I. Subsidiaries Information101
ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK101
ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES101
A. Debt Securities101
B. Warrants and Rights101
C. Other Securities101
D. American Depositary Shares101
PART II102
ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES102
ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS102
ITEM 15. CONTROLS AND PROCEDURES102
ITEM 16. [Reserved]103
ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT103
ITEM 16B. CODE OF ETHICS103
ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES103
ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES104
ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS104
ITEM 16F. CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT105
ITEM 16G. CORPORATE GOVERNANCE105
ITEM 16H. MINE SAFETY DISCLOSURE107
ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS107
ITEM 16J. INSIDER TRADING POLICY107
ITEM 16K. CYBERSECURITY108
PART III110
ITEM 17. FINANCIAL STATEMENTS110
ITEM 18. FINANCIAL STATEMENTS110
ITEM 19. EXHIBITS110
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.