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  "docSlug": "80f82c26a432",
  "documentTitle": "Globant SA (GLOB)",
  "authorId": "54_Spruce_Point_Capital",
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  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2018-04-04 00:00:00",
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  "density": "dense",
  "nDataPoints": 48,
  "notes": "Uses red boxes to highlight the specific line item inconsistency between 2014/2015 and 2017.",
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      "kind": "callout",
      "text": "Adjustments to Net Income each year are not treated uniformly",
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      "text": "A reversal of impairment for tax credits aided net income in 2014 and 2015, yet was not adjusted for in the adjusted net income reconciliation. In 2017, the exact opposite occurred, and Globant recorded a loss of $1.6M related to the recognition of the allowance for impairment of tax credits. In this instance, Globant treated this item as an adjustment and added it back to adjusted net income.",
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      "text": "Adjusted Net Income: $46.1",
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      "text": "A reversal of impairment for tax credits aided net income in 2014 and 2015, yet was not adjusted for in the adjusted net income reconciliation. In 2017, the exact opposite occurred, and Globant recorded a loss of $1.6M related to the recognition of the allowance for impairment of tax credits. In this instance, Globant treated this item as an adjustment and added it back to adjusted net income.",
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      "kind": "source-note",
      "text": "Sources: Company Filings (4Q15 Press Release, 4Q17 Press Release)",
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      "text": "IFRS Income Statement and Adjustments to Net Income table",
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      "kind": "title",
      "text": "Historical Adjusted Income Statement – Add Backs Are Not Consistent",
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      "evidence": "The document highlights the inconsistencies in Globant's financials",
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