Turing Holding Corp

ThoughtWorks, Inc. operates as a software company. The Company provides software design and delivery, research, testing, re-engineering, data science, security, prototyping, cloud, digital strategy, and consulting services. ThoughtWorks serves customers worldwide.

ThoughtWorks

Thoughtworks Holding, Inc. engages in providing digital strategy, design, and engineering services. It focuses on delivering the benefits of cloud, data, and artificial intelligence. The company was founded in 1993 and is headquartered in Chicago, IL.

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

ThoughtWorks excels in Q4 2022, eyes growth in tech services

ThoughtWorks reported strong Q4 2022 results with revenue growth and solid margins. The company is recognized for its leadership in cloud migration and managed services.
Challenges include pricing mix pressures and transitioning client investments. Opportunities lie in client interest in growth and tech digital work for 2024.
The company's growth strategies focus on deepening client relationships, M&A, and geographic expansions. Expectations of sequential growth throughout the year are positive.
ThoughtWorks is well-positioned to capitalize on opportunities in expanding verticals and recovering economies. Flexibility in pricing and client support remain key strengths.

Thoughtworks beats revenue guidance, eyes stable growth in Q2

Thoughtworks saw revenue growth and client expansion in Q1, with a focus on cost initiatives and sales investments.
While facing challenges in certain sectors and regions, the company is capitalizing on growth opportunities.
Q2 revenue is forecasted to decline slightly but stabilize, with a positive outlook for the second half of the year.
Strategic investments in sales and marketing are driving new business and revenue conversion.

Thoughtworks reports Q2 revenue decline, focuses on restructuring and growth

Thoughtworks faced revenue challenges in Q2 due to top client issues, leading to a restructuring and cost reduction plan. Despite revenue decline, the company is focusing on enhancing data and AI services, client relationships, and cost efficiencies.
The company aims to stabilize revenue growth in Q4, with a focus on existing client revenue. Challenges include budget constraints impacting project scopes, but opportunities exist in strengthening operations and relationships.

Turing Holding Corp (TWKS) meets Q3 revenue, focuses on digital transformation

TWKS's Q3 performance met revenue guidance, focusing on cost savings and digital transformation initiatives.
Partnerships with tech giants and success stories with clients driving revenue growth and innovation.
Challenges include margin impact from offshore transition and pricing pressures, with opportunities in revenue growth and margin improvement.
Continued focus on cost reduction programs and client-centric strategies for sustainable growth and profitability.

Thoughtworks reports Q4 revenue growth, eyes margin improvement in 2024

Thoughtworks' financial performance in Q4 2023 and full year showed revenue growth and margin challenges, with a focus on margin improvement in 2024 and beyond
The company's strengths lie in its valued services, APAC market performance, and strong recruiting capability, while facing challenges in client behavior and deal sizes
Opportunities include increased free cash flow, GenAI implementation, and growth in resilient sectors, with a strategic focus on operational efficiency and client retention
Overall, Thoughtworks is positioning for steady growth through technology excellence and diversification, navigating industry challenges with a proactive approach

Turing Holding Corp exceeds Q1 revenue expectations, eyes AI growth

Turing Holding Corp's Q1 2024 earnings call highlighted strong revenue performance, client acquisitions, and a focus on margin improvement. The company is optimistic about sequential growth in Q2 and expects full-year revenue within the $995 million to $1.02 billion range. Challenges include ongoing supply rebalancing impacting margins, but opportunities lie in AI-related work and demand growth.

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CHICAGO--(BUSINESS WIRE)--Thoughtworks joins Stripe's Partner Ecosystem to provide solutions that enable modern digital commerce and financial operations to enterprises.

Thoughtworks Modernizes Financial Operations with Stripe

CHICAGO--(BUSINESS WIRE)--Thoughtworks' latest Tech Radar, a biannual report of its conversations and frontline experiences solving clients' most complex business challenges.

Thoughtworks Technology Radar Delves Into Generative AI as Catalyst for Software Development Process and Productivity

Thoughtworks Holding, Inc. provides IT consulting services globally and focuses on enterprise modernization, customer experience, data and AI, and digital transformation. The market for digital transformation strategy consulting is expected to reach $143 billion by 2025, driving growth for companies like Thoughtworks. Thoughtworks is being valued at a comparatively high multiple despite an expected decline in revenue.

Thoughtworks Sees Bigger 2023 Revenue Decline Amid Restructuring

CHICAGO--(BUSINESS WIRE)--Thoughtworks becomes Google Cloud Premier Partner in the Service Engagement Model, the highest status a Google Cloud partner can achieve.

Thoughtworks Becomes Premier Partner for Google Cloud in the Services Engagement Model

CHICAGO--(BUSINESS WIRE)--Thoughtworks commissioned Forrester Consulting to explore importance of engineering effectiveness in driving flexibility and performance of business.

Thoughtworks Study Reveals Key Strategies for Empowering Engineering Effectiveness

HAMBURG, Germany--(BUSINESS WIRE)--Thoughtworks announced the launch of its Artificial Intelligence Hub in Europe.

Embracing the AI Revolution: Thoughtworks Launches European AI Hub

CHICAGO--(BUSINESS WIRE)--Thoughtworks has been named a winner of a 2023 CSO50 Award from Foundry's CSO.

Thoughtworks Receives 2023 CSO50 Award from Foundry's CSO

CHICAGO--(BUSINESS WIRE)--Thoughtworks announced that ChenMed signed a multi-year agreement to maximize the speed and agility of its core operating system on AWS.

ChenMed Selects Thoughtworks to Build Next Generation Platform for Scale and Growth

Thoughtworks Holding, Inc. (NASDAQ:TWKS ) Q2 2023 Earnings Conference Call August 8, 2023 8:00 AM ET Company Participants Rob Muller - Global Head of Investor Relations Xiao Guo - Chief Executive Officer and Director Erin Cummins - Chief Financial Officer Conference Call Participants Tien Huang - JPMorgan Maggie Nolan - William Blair Ashwin Shirvaikar - Citi Bryan Bergin - Cowen Jason Kupferberg - Bank of America Moshe Katri - Wedbush Securities Arvind Ramnani - Piper Sandler Matthew Roswell - RC Rob Muller Hello, everyone, and welcome to Thoughtworks Earnings Call for the Second Quarter of 2023. We will be recording today's call.

Thoughtworks Holding, Inc. (TWKS) Q2 2023 Earnings Call Transcript

Thoughtworks Holdings shares plummeted almost 30% after the technology consultancy firm announced disappointing second quarter financial results in addition to a restructuring plan that involves cutting between 5% and 6% of its workforce. The company said Tuesday that it is targeting $75 to $85 million in annual cost savings through restructuring actions including the headcount reduction, centralizing its operations, and creating a new Digital Engineering Centre for its client-facing workforce.

Thoughtworks cost-cutting plan and disappointing 2Q results send shares tumbling

Thoughtworks Holding, Inc. (TWKS) came out with quarterly earnings of $0.03 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.11 per share a year ago.

Thoughtworks Holding, Inc. (TWKS) Q2 Earnings Meet Estimates

CHICAGO--(BUSINESS WIRE)--Thoughtworks reports Q2 FY2023 financial earnings.

Thoughtworks Reports Second Quarter 2023 Financial Results and Announces Restructuring Actions

CHICAGO--(BUSINESS WIRE)--Thoughtworks announced product accelerators aimed to help organizations identify near-term opportunity areas and projects to apply Generative AI.

Thoughtworks Launches Generative AI Product Accelerator

CHICAGO--(BUSINESS WIRE)--Thoughtworks will report financial results for the second quarter of 2023 on Tuesday, August 8, 2023 .

Thoughtworks to Report Second Quarter 2023 Financial Results

PALO ALTO, Calif.--(BUSINESS WIRE)-- #AI--The Modern Data Company, pioneers of the world's first data operating system, DataOS®, is thrilled to announce a strategic partnership with renowned global technology consultancy, Thoughtworks (NASDAQ: TWKS). This groundbreaking collaboration is set to reimagine data operations and accelerate the adoption of Data Products, Data Mesh, and AI initiatives across a wide range of industries. Harnessing its rich expertise in data strategies, Thoughtworks has led nu.

The Modern Data Company and Thoughtworks Form Strategic Alliance to Accelerate Data Mesh Implementations and AI Initiatives

Thoughtworks has adjusted its growth strategy to maintain profit margins despite slowing revenue growth, focusing on cost-cutting measures and outbound demand generation. The company has improved utilization rates and increased its offshore mix, which should drive improvements in near-term EBITDA. Valuation is attractive once we look past FY23.

Thoughtworks: Upgrading To Buy As Business Is Doing Better Than Expected

CHICAGO--(BUSINESS WIRE)--Thoughtworks will collaborate with the Color Of Change to build a tool that helps teams collaborate and manage social change campaigns.

Color Of Change Selects Thoughtworks to Build Social Change Campaign Management Tool

CHICAGO--(BUSINESS WIRE)--Thoughtworks announced CURE International is going paperless in its network of seven hospitals across Africa.

CURE International Teams with Thoughtworks to Digitize Pediatric Surgical Hospitals

CHICAGO--(BUSINESS WIRE)--Thoughtworks announced the appointment of Mike Mason as Chief Artificial Intelligence (AI) Officer.

Thoughtworks Advances Generative AI Strategy With Appointment of Mike Mason as Chief AI Officer

CHICAGO--(BUSINESS WIRE)--Thoughtworks today announced the selection of Rachel Laycock as its next chief technology officer (CTO).

Thoughtworks Selects Rachel Laycock as Next Chief Technology Officer

Thoughtworks Holding, Inc. reported its Q1 2023 financial results on May 9, 2023. The firm provides an array of IT consulting services worldwide. Thoughtworks Holding has guided to revenue decline in 2023 as clients scrutinize project spending and delay activity due to macroeconomic uncertainties.

Thoughtworks Reduces Headcount As Revenue To Drop In 2023

CHICAGO--(BUSINESS WIRE)--Thoughtworks will be taking part in a series of conferences with the investment community.

Thoughtworks to Present at Upcoming Conferences

Thoughtworks Holding, Inc. (NASDAQ:TWKS ) Q1 2023 Earnings Conference Call May 9, 2023 8:00 AM ET Corporate Participants Rob Muller - Global Head of Investor Relations Guo Xiao - President and Chief Executive Officer Erin Cummins - Chief Financial Officer Conference Call Participants Tien-tsin Huang - JPMorgan Maggie Nolan - William Blair Matthew Roswell - RBC David Koning - Baird Bryan Bergin - Cowen Moshe Katri - Wedbush Securities Ryan Potter - Citi Jason Kupferberg - Bank of America Rob Muller Hello, everyone, and welcome to Thoughtworks earnings call for the First Quarter of 2023. We will be recording today's call.

Thoughtworks Holding, Inc. (TWKS) Q1 2023 Earnings Call Transcript

LIVERPOOL, United Kingdom & CHICAGO--(BUSINESS WIRE)--Liverpool ONE and Thoughtworks create a virtual gaming experience for children to mark the Eurovision Song Contest taking place in Liverpool.

Liverpool ONE and Thoughtworks Create a Virtual Gaming Experience Celebrating Ukraine and Liverpool

BARCELONA, Spain--(BUSINESS WIRE)--Thoughtworks has partnered with InVivo Bionics, a health tech company, to scale a platform to help urologists.

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