{"id":18465,"date":"2023-06-05T14:35:16","date_gmt":"2023-06-05T18:35:16","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/thoughtworks-reduces-headcount-as-revenue-to-drop-in-2023-nasdaqtwks\/"},"modified":"2023-06-05T14:35:18","modified_gmt":"2023-06-05T18:35:18","slug":"thoughtworks-reduces-headcount-as-revenue-to-drop-in-2023-nasdaqtwks","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=18465","title":{"rendered":"Thoughtworks Reduces Headcount As Revenue To Drop In 2023 (NASDAQ:TWKS)"},"content":{"rendered":"<div data-test-id=\"content-container\">\n<p><figure class=\"getty-figure\" data-type=\"getty-image\"><picture><\/picture><figcaption><\/figcaption><\/figure>\n<\/p>\n<h2>A Quick Take On Thoughtworks<\/h2>\n<p><strong>Thoughtworks Holding, Inc.<\/strong> (<span class=\"ticker-hover-wrapper\">NASDAQ:TWKS<\/span>) published its Q1 2023 financial results on May 9, 2023, beating revenue but missing earnings per share consensus estimates.<\/p>\n<p>The firm provides a wide range of<span class=\"paywall-full-content invisible\"> IT consulting services to clients worldwide.<\/span><\/p>\n<p class=\"paywall-full-content invisible\">With management guiding 2023 revenue to decline 2% versus 2022&#8217;s revenue growth of over 21% and ongoing budget scrutiny and reductions by clients, it is difficult to see an organic upside catalyst to the stock for the remainder of the year and the stock appears to have stabilized at its current level.<\/p>\n<p class=\"paywall-full-content invisible\">Accordingly, my outlook on TWKS is Neutral (Hold) for the near term.<\/p>\n<h2 class=\"paywall-full-content invisible\">Thoughtworks Overview<\/h2>\n<p class=\"paywall-full-content invisible\">Chicago, Illinois-based Thoughtworks Holding, Inc. was founded to develop a set of competencies to enable enterprises to evolve and modernize their IT and digital infrastructures for their business goals.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Management is headed by President and Chief Executive Officer, Guo Xiao, who has been with the firm since 1999 and previously worked in numerous roles within the company and its subsidiaries.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The company&#8217;s primary offerings include:<\/p>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Enterprise modernization<\/p>\n<\/li>\n<li>\n<p>Customer experience<\/p>\n<\/li>\n<li>\n<p>Data and AI<\/p>\n<\/li>\n<li>\n<p>Digital transformation<\/p>\n<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The firm seeks consulting and integration relationships with enterprises via its direct sales &amp; marketing efforts as well as through partner relationships.<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Thoughtworks&#8217; Market &amp; Competition<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\">According to a 2021 market research report by 360 Market Updates, the global market for digital transformation strategy consulting was an estimated $58.2 billion in 2019 and is forecast to reach $143 billion by 2025.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">This represents a forecast CAGR of 16.2% from 2020 to 2025.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The main drivers for this expected growth are a large transition from on-premises, legacy systems to cloud-based environments with complex architectures.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Also, the COVID-19 pandemic has likely pulled forward significant demand to modernize enterprise systems, resulting in increased growth prospects for digital transformation consultancies.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Major competitive or other industry participants include:<\/p>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Globant<\/p>\n<\/li>\n<li>\n<p>EPAM<\/p>\n<\/li>\n<li>\n<p>Slalom<\/p>\n<\/li>\n<li>\n<p>Accenture<\/p>\n<\/li>\n<li>\n<p>Deloitte Digital<\/p>\n<\/li>\n<li>\n<p>McKinsey<\/p>\n<\/li>\n<li>\n<p>BCG<\/p>\n<\/li>\n<li>\n<p>Ideo<\/p>\n<\/li>\n<li>\n<p>Cognizant Technology Solutions<\/p>\n<\/li>\n<li>\n<p>Capgemini<\/p>\n<\/li>\n<li>\n<p>Company in-house development effort<\/p>\n<\/li>\n<\/ul>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Thoughtworks&#8217; Recent Financial Trends<\/h2>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Total revenue by quarter has fallen noticeably:<\/p>\n<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure\" contenteditable=\"false\"><picture><span><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/12102811-16859743291420636.png\" alt=\"Total Revenue\" contenteditable=\"true\" loading=\"lazy\"><\/span><\/picture><figcaption>\n<p class=\"item-caption\">Total Revenue (Seeking Alpha)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Gross profit margin by quarter has trended higher more recently:<\/p>\n<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure\" contenteditable=\"false\"><picture><span><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/12102811-16859743292841167.png\" alt=\"Gross Profit Margin\" contenteditable=\"true\" loading=\"lazy\"><\/span><\/picture><figcaption>\n<p class=\"item-caption\">Gross Profit Margin (Seeking Alpha)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Selling, G&amp;A expenses as a percentage of total revenue by quarter have produced no obvious trend:<\/p>\n<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure\" contenteditable=\"false\"><picture><span><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/12102811-1685974329329446.png\" alt=\"Selling, G&amp;A % Of Revenue\" contenteditable=\"true\" loading=\"lazy\"><\/span><\/picture><figcaption>\n<p class=\"item-caption\">Selling, G&amp;A % Of Revenue (Seeking Alpha)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Operating income by quarter has been quite volatile in recent quarters:<\/p>\n<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure\" contenteditable=\"false\"><picture><span><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/12102811-1685974329415861.png\" alt=\"Operating Income\" contenteditable=\"true\" loading=\"lazy\"><\/span><\/picture><figcaption>\n<p class=\"item-caption\">Operating Income (Seeking Alpha)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Earnings per share (Diluted) have turned negative in the most recent quarter:<\/p>\n<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure\" contenteditable=\"false\"><picture><span><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/12102811-1685974329374239.png\" alt=\"Earnings Per Share\" contenteditable=\"true\" loading=\"lazy\"><\/span><\/picture><figcaption>\n<p class=\"item-caption\">Earnings Per Share (Seeking Alpha)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">(All data in the above charts is GAAP)<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">In the past 12 months, TWKS&#8217;s stock price has fallen 54.26% vs. that of the SPDR\u00ae S&amp;P Software &amp; Services ETF (XSW) rise of 1.64%, as the chart indicates below:<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure\" contenteditable=\"false\"><picture><span><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/12102811-16859743299086285.png\" alt=\"52-Week Stock Price Comparison\" contenteditable=\"true\" loading=\"lazy\"><\/span><\/picture><figcaption>\n<p class=\"item-caption\">52-Week Stock Price Comparison (Seeking Alpha)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">For the balance sheet, the firm ended the quarter with $109.3 million in cash and equivalents and $298.3 million in total debt, of which $7.2 million was categorized as the current portion due within 12 months.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Over the trailing twelve months, free cash flow was $107.5 million, of which capital expenditures accounted for $21.0 million. The company paid $168.0 million in stock-based compensation in the last four quarters, substantially lower than in recent quarters.<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Valuation And Other Metrics For Thoughtworks<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Below is a table of relevant capitalization and valuation figures for the company:<\/p>\n<p> <span class=\"table-responsive paywall-full-content invisible no-summary-bullets\"><span class=\"table-scroll-wrapper\"><span data-intersection-boundary=\"start\"><\/span><\/p>\n<table>\n<colgroup>\n<col>\n<col> <\/colgroup>\n<tr>\n<td>\n<p><strong>Measure (TTM)<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>Amount<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Enterprise Value\/Sales<\/p>\n<\/td>\n<td>\n<p>2.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Enterprise Value\/EBITDA (FWD)<\/p>\n<\/td>\n<td>\n<p>13.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Price\/Sales<\/p>\n<\/td>\n<td>\n<p>2.0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Revenue Growth Rate<\/p>\n<\/td>\n<td>\n<p>11.2%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Net Income Margin<\/p>\n<\/td>\n<td>\n<p>-5.5%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>EBITDA %<\/p>\n<\/td>\n<td>\n<p>2.6%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Net Debt To Annual EBITDA<\/p>\n<\/td>\n<td>\n<p>5.7<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Market Capitalization<\/p>\n<\/td>\n<td>\n<p>$2,600,000,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Enterprise Value<\/p>\n<\/td>\n<td>\n<p>$2,840,000,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Operating Cash Flow<\/p>\n<\/td>\n<td>\n<p>$128,530,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Earnings Per Share (Fully Diluted)<\/p>\n<\/td>\n<td>\n<p>-$0.18<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p> <span data-intersection-boundary=\"end\"><\/span><\/span><button class=\"table-enlarge-button\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" class=\"table-enlarge-icon\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M16 11a5 5 0 0 1-5 5H5a5 5 0 0 1-5-5V5a5 5 0 0 1 5-5h6a5 5 0 0 1 5 5v6zm-4.5-2.5h2v-6h-6v2h4v4zm-9-1h2v4h4v2h-6v-6z\"><\/path><\/svg>Click to enlarge<\/button><\/span> <\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">(Source &#8211; Seeking Alpha)<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Compared to the Seeking Alpha IT Consulting &amp; Other Services industry average EV\/EBITDA multiple of 16.56x, the firm is currently being valued by the market at a multiple of 13.2x, a discount to the industry index.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">While the firm posted trailing twelve-month revenue growth of 11.2%, the IT Consulting &amp; Other Services index averaged 16.66%.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">So, the company is being valued by the market at around less than the industry average, apparently in line with a lower EV\/EBITDA multiple when compared to the industry index.<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Commentary On Thoughtworks<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\">In its last earnings call (Source &#8211; Seeking Alpha), covering Q1 2023&#8217;s results, management highlighted the addition of 47 new clients during the quarter, and a total of 39 clients generated over $10 million in annual revenue, a 26% increase year-over-year.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">However, the firm implemented a 4% reduction in workforce during the quarter but is continuing to hire for specific skills still needed.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The company is also focused on integrating AI and machine learning into its various practices and services, noting the strong usage of these technologies among automotive use cases, among other client types.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Notably, management is focused on increasing its development of go-to-market capabilities with the addition of new major partnerships with hyperscale cloud providers, including AWS (Amazon), GCP (Google), and Azure (Microsoft).<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Leadership has set a goal of generating 25% of revenue growth from working with partners. This is a strategy that I see from other IT consulting companies as they seek to scale growth more efficiently in a higher labor cost environment.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Total revenue for Q1 2023 dropped by 4.3% year-over-year, while gross profit margin increased by 9.6%.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Selling, G&amp;A expenses as a percentage of revenue fell by 5.1% YoY, and operating income moderated sequentially but remained positive at $7.4 million for the quarter.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Looking ahead, for full-year 2023, management guided to revenue decline of 2% at the midpoint of the range and adjusted diluted EPS of $0.325 at the midpoint.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The company&#8217;s financial position is moderate, with ample liquidity, nearly $300 million in total debt but trailing twelve-month free cash flow of $107.5 million; its net debt-to-EBITDA multiple is 5.7x, which is fairly high, but management said it &#8216;continued to reduce (its) outstanding term loan, which stood at $301 million as of March 31, 2023, following a $100 million prepayment in February.&#8217;<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">From management&#8217;s most recent earnings call, I prepared a chart showing the frequency of key terms mentioned (or not) in the call, as shown below:<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure\" contenteditable=\"false\"><picture><span><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/12102811-16859743294825246.png\" alt=\"Earnings Transcript Key Terms Frequency\" contenteditable=\"true\" loading=\"lazy\"><\/span><\/picture><figcaption>\n<p class=\"item-caption\">Earnings Transcript Key Terms Frequency (Seeking Alpha)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">I&#8217;m most interested in the frequency of potentially negative terms, so management or analyst questions cited &#8220;Uncertain&#8221; once, &#8220;Challeng(es)(ing)&#8221; five times, and &#8220;Macro&#8221; eleven times.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The negative terms refer to the uncertain macro environment management cited that its clients are facing, and the firm, by extension.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">With Thoughtworks Holding, Inc. management guiding 2023 revenue to decline 2% versus 2022&#8217;s revenue growth of over 21% and ongoing budget scrutiny and reductions by clients, it is difficult to see an organic upside catalyst to the stock for the remainder of the year, although TWKS stock appears to have stabilized at its current level.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Accordingly, my outlook on TWKS is Neutral (Hold) for the near term.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/seekingalpha.com\/article\/4609496-thoughtworks-reduces-headcount-as-revenue-to-drop-in-2023?source=feed_all_articles\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Quick Take On Thoughtworks Thoughtworks Holding, Inc. (NASDAQ:TWKS) published its Q1 2023 financial results on May 9, 2023, beating revenue but missing earnings per share consensus estimates. The firm provides a wide range of IT consulting services to clients worldwide. With management guiding 2023 revenue to decline 2% versus 2022&#8217;s revenue growth of over [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-18465","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Thoughtworks Reduces Headcount As Revenue To Drop In 2023 (NASDAQ:TWKS) | iFintechWorld<\/title>\n<meta name=\"description\" content=\"A Quick Take On Thoughtworks Thoughtworks Holding, Inc. (NASDAQ:TWKS) published its Q1 2023 financial results on May 9, 2023, beating revenue but missing\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=18465\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thoughtworks Reduces Headcount As Revenue To Drop In 2023 (NASDAQ:TWKS) | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"A Quick Take On Thoughtworks Thoughtworks Holding, Inc. (NASDAQ:TWKS) published its Q1 2023 financial results on May 9, 2023, beating revenue but missing\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=18465\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-05T18:35:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-05T18:35:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1685990117_image_1180225150.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1536\" \/>\n\t<meta property=\"og:image:height\" content=\"1025\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=18465#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=18465\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Thoughtworks Reduces Headcount As Revenue To Drop In 2023 (NASDAQ:TWKS)\",\"datePublished\":\"2023-06-05T18:35:16+00:00\",\"dateModified\":\"2023-06-05T18:35:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=18465\"},\"wordCount\":1099,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=18465#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=18465\",\"url\":\"https:\/\/ifintechworld.com\/?p=18465\",\"name\":\"Thoughtworks Reduces Headcount As Revenue To Drop In 2023 (NASDAQ:TWKS) | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-06-05T18:35:16+00:00\",\"dateModified\":\"2023-06-05T18:35:18+00:00\",\"description\":\"A Quick Take On Thoughtworks Thoughtworks Holding, Inc. (NASDAQ:TWKS) published its Q1 2023 financial results on May 9, 2023, beating revenue but missing\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=18465#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=18465\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=18465#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Thoughtworks Reduces Headcount As Revenue To Drop In 2023 (NASDAQ:TWKS)\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Thoughtworks Reduces Headcount As Revenue To Drop In 2023 (NASDAQ:TWKS) | iFintechWorld","description":"A Quick Take On Thoughtworks Thoughtworks Holding, Inc. (NASDAQ:TWKS) published its Q1 2023 financial results on May 9, 2023, beating revenue but missing","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=18465","og_locale":"en_US","og_type":"article","og_title":"Thoughtworks Reduces Headcount As Revenue To Drop In 2023 (NASDAQ:TWKS) | iFintechWorld","og_description":"A Quick Take On Thoughtworks Thoughtworks Holding, Inc. (NASDAQ:TWKS) published its Q1 2023 financial results on May 9, 2023, beating revenue but missing","og_url":"https:\/\/ifintechworld.com\/?p=18465","og_site_name":"iFintechWorld","article_published_time":"2023-06-05T18:35:16+00:00","article_modified_time":"2023-06-05T18:35:18+00:00","og_image":[{"width":1536,"height":1025,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1685990117_image_1180225150.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=18465#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=18465"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Thoughtworks Reduces Headcount As Revenue To Drop In 2023 (NASDAQ:TWKS)","datePublished":"2023-06-05T18:35:16+00:00","dateModified":"2023-06-05T18:35:18+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=18465"},"wordCount":1099,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=18465#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=18465","url":"https:\/\/ifintechworld.com\/?p=18465","name":"Thoughtworks Reduces Headcount As Revenue To Drop In 2023 (NASDAQ:TWKS) | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-06-05T18:35:16+00:00","dateModified":"2023-06-05T18:35:18+00:00","description":"A Quick Take On Thoughtworks Thoughtworks Holding, Inc. (NASDAQ:TWKS) published its Q1 2023 financial results on May 9, 2023, beating revenue but missing","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=18465#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=18465"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=18465#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Thoughtworks Reduces Headcount As Revenue To Drop In 2023 (NASDAQ:TWKS)"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/18465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18465"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/18465\/revisions"}],"predecessor-version":[{"id":18467,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/18465\/revisions\/18467"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/18466"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}