TransPerfect Reports Strong First Quarter 2021 as Revenues Grow 21%

TransPerfect First Quarter 2021 Financial Results_Phil Shawe

On April 19, 2021, Super Agency TransPerfect announced that Q1 2021 revenues topped USD 230m — an increase of approximately 21% (USD 40m) versus the same period last year. TransPerfect is ranked #1 on the Slator 2021 LSPI.

The company attributed 100% of the revenue increase to organic growth (as opposed to growth via acquisition) adding that their investing “heavily in technology R&D [in 2020] in many ways […] set the stage for TransPerfect’s push into 2021.”

These investments extended to “major UX improvements” to flagship translation management system, GlobalLink, as well as to data annotation platform, “DataForce, which saw significant growth in 2020,” according to the same announcement.

Asked which factors drove growth for DataForce, TransPerfect CEO Phil Shawe told Slator that while “there are significant tailwinds in the space with the ever-increasing adoption of AI,” he credits Product Management and Sales for their “keen grasp” of these changes as well as the Tech team for developing features that address market needs.

Noting how “the vast majority of our divisions contributed to growth,” Shawe singled out the following standout contributors: AI Data Solutions (DataForce), Gaming, Media, and Technology Licensing.

Sector-wise, travel and tourism are recovering, Shawe said, “and this is encouraging because it is a large practice area for us. The retail and consumer products sectors are also growing.”

As for the events space, he noted “an increase in demand for remote conference solutions as one would expect for the times.”

The CEO further told Slator: “Geographically, APAC continues to grow at the fastest rate, followed by Europe and the Americas. While the year-over-year percentage growth rate in the Americas was smaller than other regions, we are incredibly pleased to have seen over 15% growth, given that it is the largest portion of our overall revenue.”

Asked for an update on the integration of a number of bolt-on acquisitions, which supported TransPerfect’s pre-Covid top-line growth, Shawe described it as “progressing well,” notably the integration of “our MediaNEXT platform with our company-owned physical studios in key locations.” (MediaNEXT is TransPerfect’s suite of media loc tools that combines virtual recording and traditional studio setups.)

He added, “The global interruption of production schedules are still impacting 2021, but we anticipate further Media and Entertainment industry growth as this year progresses.”

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On plans for staff to return to TransPerfect’s offices around the world, the CEO said: “Safety is our top priority. We plan to bring our staff back into offices responsibly and cautiously as local health authorities assess conditions on the ground. Of course, we will be bound by the decisions of local governments in the markets in which we operate. We are looking forward to a safe return to shared office space and the culture that this environment fosters.”