Grid Dynamics Holdings Inc
NASDAQ:GDYN

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Grid Dynamics Holdings Inc
NASDAQ:GDYN
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Price: 6.02 USD 0.84% Market Closed
Market Cap: $510.6m

Grid Dynamics Holdings Inc
Investor Relations

In the rapidly evolving landscape of digital transformation, Grid Dynamics Holdings Inc. has carved a significant niche as a purveyor of advanced IT services that drive innovation for its clientele. Established in 2006, Grid Dynamics emerged from the conviction that seamlessly integrating digital technologies with business processes could unlock unprecedented operational efficiencies and market opportunities. Specializing in the development of enterprise-level applications, Cloud and DevOps services, big data analytics, and machine learning solutions, the company positions itself as a critical partner for organizations seeking to modernize their IT infrastructure and gain a competitive edge. By fostering robust partnerships with tech giants like Google Cloud and Amazon Web Services, Grid Dynamics enhances its ability to deploy modern technologies effectively, ensuring its clients achieve agility and scalability.

Grid Dynamics' revenue model revolves around its prowess in providing customized technological solutions and consultancy services. The company generates income through long-term contracts with businesses across industries such as finance, retail, healthcare, and technology, which are keen on embedding digital prowess into their operations. By offering end-to-end project management—from ideation and consulting to implementation and maintenance—Grid Dynamics ensures a steady stream of income through its comprehensive service agreements. Moreover, its expertise in cutting-edge technology domains attracts continuous engagement from clients, enabling recurring revenues as clients adapt to ever-evolving digital landscapes. This dynamic approach not only fortifies Grid Dynamics' market position but also ensures its clients can navigate and thrive amid technological disruptions.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 5, 2026
AI Summary
Q4 2025

Revenue: Grid Dynamics reported record Q4 revenue of $106.2 million and record full-year 2025 revenue of $411.8 million, up 17.5% YoY — management said Q4 beat Wall Street expectations on revenue and EBITDA.

AI Momentum: AI revenue grew sequentially (Q4 up 9% vs Q3) and now represents 25% of Q4 revenue; full-year AI revenue was reported as over $90 million (up 30% YoY). Management expects continued AI-driven growth in 2026.

Profitability: Q4 non-GAAP EBITDA was $13.7 million (12.9% of revenue) and 2025 non-GAAP EBITDA was $53.8 million; management reiterated margin expansion plans for 2026 driven by platformization, outcome-based deals and productivity gains.

Guidance: Q1 2026 revenue guide: $103 million to $104 million; Q1 non-GAAP EBITDA: $12 million to $13 million. Full-year 2026 revenue guide: $435 million to $465 million.

Platform / GTM shift: Management emphasized transitioning from time-and-materials to outcome/output-based and platform-driven engagements (Rosetta, Cerebra, MXP, XTDB, Incarna) to decouple pricing from effort and scale margins.

Balance sheet & M&A: Cash and equivalents ended 2025 at $341.1 million; M&A remains a priority with active exclusivities and a disciplined strategic focus on technology + vertical fit.

Key Financials
Revenue (Q4 2025)
$106.2 million
Revenue (Full-year 2025)
$411.8 million
AI revenue (Q4 2025)
25% of Q4 revenue
AI revenue (Full-year 2025)
over $90 million
Non-GAAP EBITDA (Q4 2025)
$13.7 million
Non-GAAP EBITDA (Full-year 2025)
$53.8 million
GAAP gross profit (Q4 2025)
$36.1 million
GAAP net income (Q4 2025)
$0.3 million
Cash and cash equivalents (Dec 31, 2025)
$341.1 million
Total headcount (Q4 2025)
4,961 employees
U.S. headcount (Q4 2025)
357 (7.2% of total)
Non-U.S. headcount (Q4 2025)
4,604 (92.8% of total)
Customer concentration (Top 5 / Top 10 revenue %)
Top 5: 39.7%; Top 10: 58.5%
Vertical mix (Q4 2025)
Retail 28.7%; TMT 28.3%; Finance 22.9%; CPG & Manufacturing 10.2%; Other 7.3%; Healthcare & Pharma 2.6%
FX impact on EBITDA (YoY)
approximately $1.5 million headwind
FX impact on revenue (Q4)
30 bps sequential headwind; 22 bps YoY headwind
Q1 2026 revenue guidance
$103 million to $104 million
Full-year 2026 revenue guidance
$435 million to $465 million
Shares outstanding guidance (Q1 2026)
Basic: 85 million to 86 million; Diluted: 87 million to 88 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Anil Kumar Doradla
CFO & Secretary
No Bio Available
Mr. Rajeev Sharma
Chief Technology Officer
No Bio Available
Mr. Valery Zelixon
Senior Vice President of Sales & Account Management
No Bio Available
Ms. Maria Vainer
Vice President of Human Resources
No Bio Available
Mr. Eugene Steinberg Ph.D.
Technical Fellow & Head of Digital Commerce
No Bio Available
Dr. Vadim Kozyrkov
Senior Vice President of Engineering & Strategic Account Development
No Bio Available
Mr. Vasily Sizov
Senior VP & Head of Americas
No Bio Available
Mr. Rahul Shah
Regional Head of India
No Bio Available

Contacts

Address
CALIFORNIA
La Jolla
7660 Fay Avenue, Suite H, Unit 339
Contacts
+16197366855.0
www.griddynamics.com
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