Luxoft Holding, Inc Reports Results for Three Months and Full Financial Year Ended March 31, 2017

LONDON--()--Luxoft Holding, Inc (NYSE:LXFT), a leading provider of software development services and innovative IT solutions to a global client base, today announced results for the three months and the full financial year ended March 31, 2017.

Highlights – Three Months Ended March 31, 2017

  • US GAAP revenue amounted to $204.1 million, an increase of 20.6% year over year and an increase of 22.0% year over year on a constant currency basis
  • Adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) were $29.2 million and Adjusted EBITDA margin was 14.3%, compared to $26.5 million and 15.7% in the year-ago quarter
  • Diluted earnings per share (EPS) on a US GAAP basis was $0.40
  • Diluted EPS on a non-GAAP basis was $0.63

Highlights – Financial Year Ended March 31, 2017

  • US GAAP revenue amounted to $785.6 million, an increase of 20.7% year over year and an increase of 22.0% on a constant currency basis
  • Adjusted EBITDA was $133.8 million and EBITDA margin was 17%
  • Free cash flow amounted to $98.2 million, or 12.5% of revenue, and an increase of 29.0% year over year
  • Diluted EPS on a US GAAP basis was $1.84
  • Diluted EPS on a non-GAAP basis was $2.89
  • Employee productivity increased by 2.5% to $78,265 per delivery engineer

Revenue for the three months ended March 31, 2017 increased to $204.1 million, up 20.6% from $169.2 million for the same period a year ago, and decreased 1.3% sequentially, reflecting the normal seasonality of the business. Adjusted EBITDA was $29.2 million with corresponding margins of 14.3%, as compared to $26.5 million and 15.7%, respectively, in the year ago quarter. US GAAP net income was $13.7 million, or $0.40 per diluted share, compared to $14.6 million and $0.43 per diluted share for the same period a year ago, and $18.5 million and $0.55 sequentially. Non-GAAP net income was $21.5 million, or $0.63 per diluted share, compared to $18.8 million and $0.56 per diluted share for the same period a year ago, and $27.9 million and $0.82 sequentially.

Revenue for the full financial year ended March 31, 2017 increased to $785.6 million, up 20.7% from $650.8 million a year ago. US GAAP net income was $62.6 million, or $1.84 per diluted share, compared to $70.3 million and $2.06 per diluted share a year ago. Non-GAAP net income was $98.3 million, or $2.89 per diluted share, compared to $92.9 million and $2.72 per diluted share a year ago. Reconciliations between non-GAAP financial measures and US GAAP operating results and diluted EPS are included at the end of this release.

“We are pleased to report solid operating and financial results for the fourth quarter and the full year ended March 31, 2017. They reflect strong positive fundamental improvements in our client dynamic and business composition, such as strong growth of HPA accounts, substantial decline in client and vertical concentration, and diversification of our client base,” said Dmitry Loschinin, Luxoft's CEO and President. “We have been successfully executing on several transformational initiatives, investing consistently to become a more effective agile global company, capable of competing for bigger deals and serving a wider variety of clients in various markets, namely in Australia and South East Asia. Over the past year we have significantly improved diversification of our client base adding 18 new HPAs and lowering customer concentration by as much as 10% for the top 3 and 5 accounts. Luxoft’s clients continue to benefit from our higher value offerings that include premium consulting services and engineering solutions as they aim to be more competitive and smoothly transition to new digitalization-driven operating models.”

Five of Luxoft's seven verticals experienced revenue growth, with Telecom, Automotive and Transport, Technology, and Financial Services delivering the strongest performance of 87.9%, 40.8%, 14.6% and 8.4% growth, respectively, on a year over year basis. During the year we launched a new vertical – Healthcare, which finished the year with $28.3 million in revenues, representing 3.6% of the total annual turnover for the Company. The company also exhibited solid performance across all of its core revenue-generating geographies: revenues generated in Rest of Europe increased 105.9%, Switzerland revenues increased 48.3%, German revenues increased 33.6%, and the U.S. revenues increased 28.9% as compared to the last financial year.

The company finished the year with 12,766 employees, of which 10,807 were delivery professionals who continued to drive average productivity to $78,265 per engineer; this represents an annual increase of 2.5%. The average delivery headcount increased by 17.8% as compared to the financial year ended March 31, 2016, which is 2.9% slower than the revenue growth for the same period. The effective tax rate for the full financial year ended March 31, 2017 was 11.2%.

“The financial year 2017 has been a challenging but positive year for our company. We have been successfully rebalancing growth from legacy clients into a group of newer, High Potential Accounts, which now comprises nearly 30% of total revenues. Revenues attributed to the HPA group grew close to 100% year over year. We are happy to note that our pipeline of business is strong, underpinned by demand for transformational engagements in all of our core verticals. For example, excluding top legacy customers, revenues from the financial services vertical grew 35% and revenues from the automotive vertical grew over 90% on year over year basis,” stated Evgeny Fetisov, Chief Financial Officer. “During the past year we closed three strategic acquisitions, expanded in key geographies, and launched a new healthcare and life sciences vertical - all while maintaining high pace of top-line growth, preserving our margins, staying free of long-term debt and generating healthy levels of free cash flow: $98 million, or 13% of total revenues and 157% of net income.”

Outlook for the Financial Year Ending March 31, 2018

  • Revenue is expected to be at least $943 million, an increase of at least 20.0% year over year
  • Adjusted EBITDA margin is expected to be in the range of 17.0% - 19.0%
  • Diluted EPS is expected to be at least $1.90 on a US GAAP basis and at least $3.26 on a non-GAAP basis
  • EPS is based on an estimated weighted average of 35,035 thousand diluted shares

Conference Call Information

A conference call will be conducted with the members of Luxoft's senior management at 8:00 a.m. EDT on Tuesday, May 23, 2017 to review the financial and operational performance of the company for the above-mentioned periods.

To participate in the conference call please dial 877-407-8293 (for domestic U.S. callers) or 201-689-8349 (for international callers). A live webcast will also be available during the call and can be accessed at http://edge.media-server.com/m/p/hi543zh3/lan/en. Participants, please access the website at least 10 minutes prior to the call to register and follow the instructions provided on the website to download and install the necessary applications.

If you are unable to join our live event, a replay will be available by dialing 877-660-6853 (for domestic U.S. callers) or 201-612-7415 (for international callers) and entering the conference ID# 13660578. The replay will be available shortly after the call and up to 11:59 p.m. EDT on June 6, 2017. The replay will also be available at Luxoft's Investor Relations portal for 14 days following the call.

About Luxoft

Luxoft Holding, Inc (NYSE:LXFT) is a leading provider of software development services and innovative IT solutions to a global client base consisting primarily of large multinational corporations. Luxoft's software development services consist of core and mission critical custom software development and support, product engineering and testing, and technology consulting. Luxoft's solutions are based on its proprietary products and platforms that directly impact its clients' business outcomes and efficiently deliver continuous innovation. The Company develops its solutions and delivers its services from 34 cities with dedicated delivery centers worldwide. It has over 12,700 employees across 39 cities in 19 countries in North America, Mexico, Western and Eastern Europe, Asia Pacific, and South Africa. Luxoft is incorporated in Tortola, British Virgin Islands, has its operating headquarters office in Zug, Switzerland and is listed on the New York Stock Exchange. For more information, please visit http://www.luxoft.com.

Non-GAAP Financial Measures

To supplement our financial results presented in accordance with US GAAP, this press release includes the following measures defined by the Securities and Exchange Commission as non-GAAP financial measures: earnings before interest, tax, depreciation and amortization (EBITDA); adjusted EBITDA; non-GAAP net income; non-GAAP diluted Earnings per share (EPS) and Free Cash Flow (FCF). Non-GAAP net income and non-GAAP EPS exclude stock-based compensation expense, amortization of fair value adjustments to intangible assets and impairment thereof and other acquisitions related costs that may include changes in the fair value of contingent consideration liabilities. Non-GAAP diluted EPS are calculated as non-GAAP net income divided by weighted average number of diluted shares. Free Cash Flow is calculated as operating cash flow less capital expenditure which consists of purchases of property, plant and equipment and intangible assets as defined in the cash flow statement.

We adjust our non-GAAP financial measures to exclude stock based compensation, because it is a non-cash expense. We also adjust our non-GAAP financial measures to exclude the change in fair value of contingent consideration, because we believe these expenses are not indicative of what we consider to be normal course of operations. Our non-GAAP financial measures are adjusted to exclude amortization of purchased intangible assets in order to allow management and investors to evaluate our results from operating activities as if these assets have been developed internally rather than acquired in a business combination. Finally, we adjust our non-GAAP financial measures to exclude acquisition-related costs, which comprise payments to consulting firms as well as fees paid upon successful completion of acquisition; as well as certain incentive payments for members of management of the acquired companies as provided for in the acquisition agreements. These payments are based on performance of the acquired businesses and are classified as part of management compensation rather than part of purchase consideration. These costs vary with the size and complexity of each acquisition and are generally inconsistent in amount and frequency, and therefore, we believe that they may not be indicative of the size and volume of future acquisition-related costs.

We provide these non-GAAP financial measures because we believe that they present a better measure of our core business and management uses them internally to evaluate our ongoing performance. Accordingly, we believe that these non-GAAP measures are useful to investors in enhancing and understanding of our operating performance. These non-GAAP measures should be considered in addition to, and not as a substitute for, comparable US GAAP measures. The non-GAAP results and a full reconciliation between US GAAP and non-GAAP results are provided in the accompanying tables at the end of this press release.

Forward-Looking Statements

In addition to historical information, this release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include information about possible or assumed future results of our business and financial condition, as well as the results of operations, liquidity, plans and objectives. In some cases, you can identify forward-looking statements by terminology such as "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "predict," "potential," or the negative of these terms or other similar expressions. These statements include, but are not limited to, statements regarding: the persistence and intensification of competition in the IT industry; the future growth of spending in IT services outsourcing generally and in each of our industry verticals, application outsourcing and custom application development and offshore research and development services; the level of growth of demand for our services from our clients; the level of increase in revenues from our new clients; seasonal trends and the budget and work cycles of our clients; general economic and business conditions in our locations, including geopolitical instability and social, economic or political uncertainties, particularly in Russia and Ukraine, and any potential sanctions, restrictions or responses to such conditions imposed by some of the locations in which we operate; the levels of our concentration of revenues by vertical, geography, by client and by type of contract in the future; the expected timing of the increase in our corporate tax rate, or actual increases to our effective tax rate which we may experience from time to time; our expectations with respect to the proportion of our fixed price contracts; our expectation that we will be able to integrate and manage the companies we acquire and that our acquisitions will yield the benefits we envision; the demands we expect our rapid growth to place on our management and infrastructure; the sufficiency of our current cash, cash flow from operations, and lines of credit to meet our anticipated cash needs; the high proportion of our cost of services comprised of personnel salaries; our plans to introduce new products for commercial resale and licensing in addition to providing services; our anticipated joint venture with one of our clients; and our continued financial relationship with IBS Group Holding limited and its subsidiaries including expectations for the provision and purchase of services and purchase and lease of equipment; and other factors discussed under the heading "Risk Factors" in the Annual Report on Form 20-F for the year ended March 31, 2016 and other documents filed with or furnished to the Securities and Exchange Commission. Except as required by law, we undertake no obligation to publicly update any forward-looking statements for any reason after the date of this press release whether as a result of new information, future events or otherwise.

 
 

LUXOFT HOLDING, INC

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

 

(In thousands of US dollars)

           
For the three months For the year
  ended March 31,     ended March 31,  
  2017   2016     2017   2016  
(Unaudited) (Unaudited)
Sales of services $ 204,131 $ 169,209 $ 785,561 $ 650,752
Operating expenses
Cost of services (exclusive of depreciation and amortization) 129,632 103,496 474,980 379,331
Selling, general and administrative expenses 56,193 48,202 213,723 171,707
Depreciation and amortization 10,260 6,703 34,847 23,814
Gain from revaluation of contingent liability (8,668 ) (3,356 ) (10,031 ) (2,511 )
Impairment loss     5,287               5,287          
Operating income     11,427       14,164         66,755       78,411    
 
Other income and expenses
Interest (expense) gain, net (91 ) 149 (81 ) 121
Other gains, net 755 2,346 5,119 3,947
(Loss) gain from foreign currency exchange contract (1,019 ) 1,314 261
Net foreign exchange gain (loss)     889       1,524         (2,604 )     (381 )  
Income before income taxes $ 12,980 $ 17,164 $ 70,503 $ 82,359
Income tax benefit (expense)     755       (2,572 )       (7,865 )     (12,108 )  
Net income $ 13,735 $ 14,592 $ 62,638 $ 70,251
Net (income) loss attributable to the non-controlling interest                            
Net income attributable to the Group $ 13,735     $ 14,592       $ 62,638     $ 70,251  
 
Basic EPS per Class A and Class B ordinary share
Net income attributable to the Group per ordinary share   $ 0.41     $ 0.44       $ 1.88     $ 2.13    
Weighted average ordinary shares outstanding     33,493,847       33,140,451         33,280,771       32,949,807    
 
Diluted EPS per Class A and Class B ordinary share
Diluted net income attributable to the Group per ordinary share   $ 0.40     $ 0.43       $ 1.84     $ 2.06    
Diluted weighted average ordinary shares outstanding     34,132,929       33,865,865         34,000,674       34,088,214    
 
 

LUXOFT HOLDING, INC

CONDENSED CONSOLIDATED BALANCE SHEETS

 

(In thousands of US dollars except share amounts)

       
 

As of March 31,

2017

(unaudited)

    As of March 31,

2016

 
Assets
Current assets
Cash and cash equivalents $ 109,558 $ 108,545
Restricted cash, current 4,000
Trade accounts receivable, net of allowance for doubtful accounts of $435 at March 31, 2017 and $79 at March 31, 2016 144,862 131,204
Unbilled revenue 14,454 16,081
Work-in-progress 2,805 1,595
Due from related parties 1,084 2,180
VAT and other taxes receivable 1,732 1,814
Advances issued 2,740 2,413
Other current assets     5,224         3,333    
Total current assets   $ 286,459       $ 267,165    
 
Non-current assets
Restricted cash, non-current 1,399
Deferred tax assets 3,423 3,174
Property and equipment, net 49,571 46,072
Intangible assets, net 120,430 43,780
Goodwill 76,918 30,285
Other non-current assets     9,007         4,066    
Total non-current assets   $ 260,748       $ 127,377    
Total assets   $ 547,207       $ 394,542    
 
Liabilities and shareholders’ equity
Current liabilities
Short-term borrowings $ 633 $ 460
Accounts payable 24,402 8,266
Accrued liabilities 38,513 27,357
Deferred revenue 3,815 5,048
Due to related parties 460 518
VAT and other taxes payable 21,283 22,532
Payable under foreign exchange contracts 295 2,476
Payables for acquisitions, current 17,221 5,595
Other current liabilities     2,025         1,503    
Total current liabilities   $ 108,647       $ 73,755    
 
Deferred tax liability, non-current 16,907 5,511
Payables for acquisitions, non-current 32,206 11,786
Other non-current liabilities     2,629         1,757    
Total liabilities   $ 160,389       $ 92,809    
 
Shareholders’ equity
Share capital (80,000,000 shares authorized; 33,533,198 issued and outstanding with no par value as at March 31, 2016, and 80,000,000 shares authorized; 33,178,641 issued and outstanding with no par value as at March 31, 2016)
Additional paid-in capital 133,192 107,477
Common stock held in treasury, at cost (92,191 shares as of March 31, 2017; 35,579 shares as of March 31, 2016) (6,028 ) (2,665 )
Retained earnings 263,508 200,870
Accumulated other comprehensive loss     (3,886 )       (3,981 )  
Total shareholders’ equity attributable to the Group     386,786         301,701    
Non-controlling interest     32         32    
Total equity   $ 386,818       $ 301,733    
Total liabilities and equity   $ 547,207       $ 394,542    
 
 

LUXOFT HOLDING, INC

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW

 

(In thousands of US dollars except share amounts)

   
For the year ended March 31,
 
2017   2016
(Unaudited)  
Operating activities
Income from operations $ 62,638 $ 70,251
 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 34,847 23,814
Deferred tax benefit (3,395 ) (902 )
Foreign currency exchange contracts loss (1,314 ) (261 )
Loss on foreign exchange 2,604 381
Provision for doubtful accounts 380 311
Loss from revaluation of contingent liability (10,031 ) (2,511 )
Share-based compensation 28,984 17,745
Impairment loss 5,287
 
Changes in operating assets and liabilities:
Trade accounts receivable and unbilled revenue 145 (10,261 )
Work-in-progress (1,210 ) (146 )
Due to and from related parties 1,001 (1,084 )
Accounts payable and accrued liabilities 8,879 4,942
Deferred revenue (1,761 ) (4,222 )
Changes in other assets and liabilities   (5,027 )   7,332  
Net cash provided by operating activities   122,027     105,389  
 
Investing activities
Purchases of property and equipment (19,614 ) (24,171 )
Purchases of intangible assets (4,182 ) (5,069 )
Proceeds from disposal of property and equipment 40
Acquisitions, net of cash acquired (77,672 ) (3,525 )
Escrow deposits   (5,000 )    
Net cash used in investing activities   (106,468 )   (32,725 )
 
Financing activities
Proceeds from short-term borrowings (5,897 ) (880 )
Acquisition of business, deferred consideration (4,577 ) (6,126 )
Repurchases of common stock (3,611 ) (1,774 )
Repayment of capital lease obligations   (133 )   (124 )
Net cash used in financing activities   (14,218 )   (8,904 )
Effect of exchange rate changes on cash and cash equivalents   (328 )   (808 )
Net increase in cash and cash equivalents   1,013     62,952  
Cash and cash equivalents at beginning of year   108,545     45,593  
Cash and cash equivalents at end of period $ 109,558   $ 108,545  
 
 

LUXOFT HOLDING, INC

 

Reconciliations of Non-GAAP Financial Measures to Comparable GAAP Measures

(Unaudited)

(In thousands of US dollars, except per share amounts and percentages)

     
Three months ended March 31, Year ended March 31,
2017   2017   2017 2017   2017   2017
GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP
Operating income 11,427 9,878 (a) 21,305 66,755 40,717 (a) 107,472
Operating margin 5.6 % 4.8 % 10.4 % 8.5 % 5.2 % 13.7 %
Net income 13,735 7,760 (b) 21,495 62,638 35,673 (b) 98,311
Diluted earnings per share $ 0.40 $ 0.63 $ 1.84 $ 2.89
 
Three months ended March 31, Year ended March 31,
2016 2016 2016 2016 2016 2016
GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP
Operating income 14,164 4,688 (a) 18,852 78,411 24,856 (a) 103,267
Operating margin 8.4 % 2.8 % 11.1% 12.0 % 3.8 % 15.9 %
Net income 14,592 4,250 (b) 18,842 70,251 22,605 (b) 92,856
Diluted earnings per share $ 0.43 $ 0.56 $ 2.06 $ 2.72
             

 

Three months ended For the year ended
March 31, March 31,
(a)       2017   2016 2017   2016
Adjustments to GAAP operating income
Stock-based compensation expense $ 7,470 $ 3,983 $ 28,984 $ 17,745
Amortization of purchased Intangible assets 3,994 1,858 12,353 7,419
Gain from revaluation of contingent liability (8,668 ) (3,356 ) (10,031 ) (2,511 )
Acquisition related costs 1,795 2,203 4,124 2,203
Impairment loss   5,287         5,287      
Total Adjustments to GAAP income from operations: $ 9,878   $ 4,688   $ 40,717   $ 24,856  
 
Three months ended For the year ended
March 31, March 31,
(b)       2017 2016 2017 2016
Adjustments to GAAP net income
Stock-based compensation expense $ 7,470 $ 3,983 $ 28,984 $ 17,745
Amortization of purchased Intangible assets 3,994 1,858 12,353 7,419
Gain from revaluation of contingent liability (8,668 ) (3,356 ) (10,031 ) (2,511 )
Acquisition related costs 1,795 2,203 4,124 2,203
Impairment loss 5,287 5,287
Tax effect of the adjustments   (2,118 )   (438 )   (5,044 )   (2,251 )
Total Adjustments to GAAP net income $ 7,760   $ 4,250   $ 35,673   $ 22,605  
             
Three months ended For the year ended
March 31,     March 31,
2017   2016 2017   2016
Net income $ 13,735 $ 14,592 $ 62,638 $ 70,251
Adjusted for:
Interest Expense (Income) 91 (149 ) 81 (121 )
Income tax (755 ) 2,572 7,865 12,108
Depreciation and Amortization   10,260     6,703     34,847     23,814  
EBITDA $ 23,331   $ 23,718   $ 105,431   $ 106,052  
Adjusted for
Stock based compensation 7,470 3,983 28,984 17,745
Gain from revaluation of contingent liability (8,668 ) (3,356 ) (10,031 ) (2,511 )
Acquisition related costs 1,795 2,203 4,124 2,203
Impairment loss   5,287         5,287      
Adjusted EBITDA $ 29,215   $ 26,548   $ 133,795   $ 123,489  
 
 

LUXOFT HOLDING, INC

Schedule of supplemental information (unaudited)

 

(In thousands, except percentages)

     
Revenue for the three months ended March 31,
2017   2016
Client location       Amount   % of sales   Amount   % of sales
U.S. $ 76,953   37.7 % $ 53,420   31.6 %
UK 44,976 22.0 % 51,526 30.5 %
Germany 29,683 14.5 % 24,211 14.3 %
Russia 9,272 4.5 % 6,523 3.9 %
Switzerland 9,243 4.5 % 8,712 5.1 %
Poland 8,943 4.4 % 6,227 3.7 %
Romania 5,747 2.8 % 5,747 3.4 %
Singapore 984 0.5 % 2,936 1.7 %
Rest of Europe 10,035 4.9 % 4,142 2.4 %
Other   8,295   4.2 %   5,765   3.4 %
Total $ 204,131 100 % $ 169,209 100 %
 

 

Revenue for the year ended March 31,

2017   2016
Client location       Amount   % of sales Amount   % of sales
U.S. $ 261,443 33.3 % $ 202,855 31.2 %
UK 213,547 27.2 % 223,566 34.4 %
Germany 115,301 14.7 % 86,332 13.3 %
Russia 36,905 4.7 % 32,748 5.0 %
Switzerland 34,833 4.4 % 23,489 3.6 %
Poland 30,940 3.9 % 17,009 2.6 %
Romania 21,403 2.7 % 14,381 2.2 %
Singapore 4,889 0.6 % 10,154 1.6 %
Rest of Europe 36,148 4.7 % 17,554 2.7 %
Other   30,152   3.8 %   22,664   3.4 %
Total $ 785,561 100 % $ 650,752 100 %
 

 

Revenue for the three months ended March 31,

2017   2016
Industry vertical       Amount   % of sales Amount   % of sales
Financial Services $ 115,964 56.8 % $ 115,330 68.2 %
Automotive and transport 29,443 14.4 % 22,740 13.4 %
Telecom 23,087 11.3 % 9,927 5.9 %
Technology 14,512 7.1 % 8,989 5.3 %
Healthcare 9,587 4.7 % %
Travel and Aviation 6,146 3.0 % 7,429 4.4 %
Energy 4,042 2.0 % 3,358 2.0 %
Other   1,350   0.7 %   1,436   0.8 %
Total $ 204,131 100 % $ 169,209 100 %
 

 

Revenue for the year ended March 31,

2017   2016
Industry vertical       Amount   % of sales Amount   % of sales
Financial Services $ 483,801 61.6 % $ 446,138 68.6 %
Automotive and transport 110,839 14.1 % 78,698 12.1 %
Telecom 69,900 8.9 % 37,200 5.7 %
Technology 48,581 6.2 % 42,398 6.5 %
Healthcare 28,258 3.6 % %
Travel and Aviation 27,744 3.5 % 29,232 4.5 %
Energy 13,345 1.7 % 12,873 2.0 %
Other   3,093   0.4 %   4,213   0.6 %
Total $ 785,561 100 % $ 650,752 100 %

Contacts

Luxoft Holding, Inc
Alina V. Plaia, +1-212-964-9900 ext. 2404
Vice-President, Global Communications & IRO
IR@luxoft.com

Contacts

Luxoft Holding, Inc
Alina V. Plaia, +1-212-964-9900 ext. 2404
Vice-President, Global Communications & IRO
IR@luxoft.com