10-Q · April 30, 2026
Grid Dynamics reported Q1 2026 revenues of $104.1 million, marking a 3.7% increase from $100.4 million in Q1 2025, while EPS came in at a loss of $0.02 compared to a gain of $0.03 last year. The report indicates…
Earnings analysis · 10-K
GDYN earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
Grid Dynamics reported a strong year in 2025, achieving total revenues of $411.8 million, up 17.5% from 2024, driven by significant contributions from Finance and sustained demand across key sectors. The net income was…
Read full summary
Grid Dynamics reported a strong year in 2025, achieving total revenues of $411.8 million, up 17.5% from 2024, driven by significant contributions from Finance and sustained demand across key sectors. The net income was $9.7 million, with EPS at $0.11, reflecting a solid performance amidst inflationary pressures. The company continues to emphasize its strategic focus on enterprise AI solutions, significantly enhancing its market position and customer engagement despite macroeconomic challenges.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.11
- Segment
- Finance
- Segment
- Retail
What stood out
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Record Revenue Growth
Grid Dynamics achieved revenues of $411.8 million in 2025, a 17.5% increase year-over-year.
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Strong AI Revenue Contributions
AI revenues reached over $90 million in 2025, marking a 30% year-over-year growth.
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Improved Net Income
Net income rose to $9.7 million in 2025 from $4.0 million in 2024, with EPS improving to $0.11.
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Product Roadmap Expansion
Continued investment in AI and digital transformation services positioned the company for future growth.
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Operating Cash Flow Strength
Operating cash flow for 2025 was $40.6 million, indicating solid cash management.
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Substantial Cash Reserves
The company ended the year with $342.1 million in cash and cash equivalents, providing ample flexibility.
What to watch
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Increased Inflationary Pressure
Continued inflation has led to heightened operational costs, impacting margin stability.
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Market Volatility and Budget Constraints
Economic uncertainties have elongated decision cycles for clients, potentially delaying projects and impacting future revenue.
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Dependence on Key Verticals
Finance, while growing significantly (up 66.9%), accounts for a substantial part of revenue, exposing the company to sector-specific downturns.
Management's outlook
Annual outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · May 2, 2024
Grid Dynamics reported revenue of $79.817M for the three months ended March 31, 2024, essentially flat versus $80.080M a year earlier. Gross profit declined to $27.665M (gross margin ~34.7%) while net loss narrowed to…
10-Q · November 2, 2023
Grid Dynamics reported Q3 revenue of $77.419M (three months ended September 30, 2023), down from $81.161M in Q3 2022, while moving to a slight operating profit of $0.143M and diluted EPS of $0.01. Nine‑month operating…
10-Q · November 3, 2022
Grid Dynamics reported Q3 revenue of $81,161,000, up $23,228,000 (40.1%) year-over-year, but the company swung to a larger operating loss of $4,750,000 and a net loss of $6,659,000 (diluted loss per share $0.10). Cash…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.