• Globant S.A average gross margin for 2023 was 36.55%, a 3.31% decline from 2022.
• Globant S.A average gross margin for 2022 was 37.8%, a 0.03% decline from 2021.
• Globant S.A average gross margin for 2021 was 37.79%, a 0.11% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.