Thoughtworks Q2 Adj. Profit Rises; Revenue Up 33.5% In Constant Currency

(RTTNews) - Thoughtworks Holding, Inc. (TWKS) reported second quarter adjusted earnings per share of $0.11 compared to $0.10, a year ago. On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.11, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA was $58.5 million, an increase of 14.2%.

Net loss for the second quarter was $30.0 million compared to net income of $18.2 million, a year ago, primarily impacted by $55.2 million of stock-based compensation. Loss per common share was $0.10 compared to a loss of $0.18.

Second quarter revenues were $332.1 million, an increase of 27.5% year-over-year and 33.5% on a constant currency basis. Analysts on average had estimated $328.34 million in revenue.

For the third quarter, the company expects: revenues in the range of $327 million to $329 million, reflecting year-over-year growth at the midpoint of 15.1%, or 21.8% on a constant currency basis; and adjusted EPS in the range of $0.10 to $0.11.

For the full year, the company expects: revenue growth in the range of 29.5% to 30.5% year-over-year on a constant currency basis; and adjusted EPS in the range of $0.47 to $0.50.

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