GRID DYNAMICS HOLDINGS, INC. GDYN

Technology SIC 7372 - Services-Prepackaged Software NAICS Information › Publishing Industries › Software Publishers derived Nasdaq

Grid Dynamics Holdings, Inc. ("Grid Dynamics," the "Company," "we," "us," or "our") is an Enterprise Artificial Intelligence ("AI") transformation partner for the Fortune 1000. We combine deep AI expertise with proven enterprise-scale delivery to help clients identify where to invest in AI, deliver systems that work at scale, and capture real business value from AI deployments. The building blocks of AI have always been our foundation — distributed systems, real-time data, machine learning algorithms, and natural language processing. What has changed is that these capabilities have now converged into Enterprise AI.

This technical heritage is matched with business acumen. We solve the most pressing technical challenges and enable positive business outcomes for enterprise companies. A key differentiator is our nearly two decades of technology leadership and pioneering enterprise AI expertise. This is supported by deep capabilities and ongoing investment in data and machine learning platform engineering, cloud platform and product engineering, Internet of Things ("IoT") and edge computing, and digital engagement services.

Last close 8.65 2026-10-23
Market cap $701.7M 2026-06-30 share count
52-week range 5.11 - 10.21

Valuation FY2025 figures against the last close

P/S1.7x
P/E78.6x
P/FCF27.8x
EV/EBITDA68.1x
Dividend yield—
Diluted EPS0.11

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • North America
  • Europe
  • Other
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 North America, FY2025: 289.4M (70.3%) 70% North America Europe, FY2025: 86.4M (21.0%) 21% Europe Other, FY2025: 36.1M (8.8%) 9% Other FY2024 North America, FY2024: 279.2M (79.6%) 80% Europe, FY2024: 56.3M (16.1%) 16% Other, FY2024: 15M (4.3%) 4% FY2023 North America, FY2023: 239M (76.4%) 76% Europe, FY2023: 60.8M (19.4%) 19% Other, FY2023: 13.2M (4.2%) 4%
Region FY2025FY2024FY2023
North America $289.4M $279.2M $239.0M
Europe $86.4M $56.3M $60.8M
Other $36.1M $15.0M $13.2M

As the company reported it, from the “Revenues - Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue $411.8M$350.6M$312.9M$310.5M$211.3M$111.3M$118.3M$91.9M—
Cost of revenue $269.5M$223.6M$199.8M$189.9M$123.6M$69.7M$70.1M$52.6M—
Gross profit $142.3M$127.0M$113.1M$120.6M$87.7M$41.6M$48.2M$39.3M—
R&D $23.7M$18.3M$14.7M$15.8M$8.5M$9.3M$4.3M$2.6M—
SG&A $90.5M$82.1M$79.8M$106.0M$64.8M$37.7M$21.3M$17.6M—
Total operating expenses $144.2M$129.1M$118.7M$141.6M$87.7M$57.1M$32.6M$25.5M—
Operating income -$1.9M-$2.1M-$5.6M-$21.0M$50.0K-$15.4M$15.6M$13.8M—
Interest expense ——————$1.8M——
Pre-tax income $15.7M$11.1M$4.8M-$20.5M-$2.5M-$15.2M$15.4M$13.1M—
Income tax $6.0M$7.0M$6.6M$8.8M$5.2M$2.6M$4.6M$3.9M—
Net income $9.7M$4.0M-$1.8M-$29.2M-$7.7M-$12.6M$10.8M$9.2M—
EPS, basic 0.110.05-0.02-0.42-0.13-0.280.490.46—
EPS, diluted 0.110.05-0.02-0.42-0.13-0.280.490.46—
Shares, diluted (wtd. avg.) 86.9M80.0M75.2M69.2M58.7M44.7M21.1M20,217—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash and equivalents $342.1M$334.7M$257.2M$256.7M$144.4M$112.7M$42.2M$17.9M$10.4M
Receivables $79.5M$69.4M$53.6M$48.4M$38.8M$16.9M$13.9M——
Total current assets $439.5M$423.3M$324.0M$323.1M$192.8M$134.6M$66.0M$1.2M—
Property, plant and equipment $17.7M$14.0M$11.4M$8.2M$6.2M$4.1M$4.0M——
Goodwill $84.4M$83.4M$53.9M$45.5M$36.0M$14.7M$0——
Other intangibles $41.6M$47.9M$26.5M$20.4M$19.1M$8.1M$18.0K——
Total assets $612.9M$592.2M$435.2M$411.1M$256.7M$167.1M$71.5M$222.4M—
Accounts payable $3.7M$4.1M$3.6M$3.9M$2.1M$757.0K$768.0K$216.5K—
Total current liabilities $52.1M$55.5M$42.2M$38.7M$25.3M$13.3M$8.3M$445.1K—
Total liabilities $70.8M$74.4M$52.3M$48.1M$29.7M$15.4M$8.3M$8.1M—
Retained earnings -$2.2M-$11.8M-$15.9M-$14.1M$15.1M$22.8M-$2.7M$615.4K—
Total equity $542.1M$517.8M$382.9M$363.0M$227.1M$151.7M$54.0M$33.4M$24.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating cash flow $40.6M$30.2M$41.1M$31.7M$18.0M$5.9M$12.5M$10.6M—
Depreciation and amortisation $12.2M$9.2M$5.2M$4.2M$3.1M$2.6M$2.2M——
Stock-based compensation $30.3M$34.2M$35.5M$61.0M$33.0M$20.0M$2.4M$1.8M—
Capital expenditure $15.3M$11.8M$7.9M$6.1M$4.7M$2.3M$2.8M$3.1M—
Investing cash flow -$15.1M-$51.3M-$25.9M-$16.3M-$35.4M-$18.3M-$2.8M-$3.1M—
Financing cash flow -$19.9M$101.2M-$16.3M$97.8M$49.1M$83.0M$14.6M——
Dividends paid ————$0$0$2.0M——
Buybacks $2.0M$0$0$0$0$123.9M$0——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-053052.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M 600M Revenue, FY2018: 91.9M Gross profit, FY2018: 39.3M Net income, FY2018: 9.2M Revenue, FY2019: 118.3M Gross profit, FY2019: 48.2M Net income, FY2019: 10.8M Revenue, FY2020: 111.3M Gross profit, FY2020: 41.6M Net income, FY2020: -12.6M Revenue, FY2021: 211.3M Gross profit, FY2021: 87.7M Net income, FY2021: -7.7M Revenue, FY2022: 310.5M Gross profit, FY2022: 120.6M Net income, FY2022: -29.2M Revenue, FY2023: 312.9M Gross profit, FY2023: 113.1M Net income, FY2023: -1.8M Revenue, FY2024: 350.6M Gross profit, FY2024: 127M Net income, FY2024: 4M Revenue, FY2025: 411.8M Gross profit, FY2025: 142.3M Net income, FY2025: 9.7M FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $91.9M $118.3M $111.3M $211.3M $310.5M $312.9M $350.6M $411.8M
Gross profit — $39.3M $48.2M $41.6M $87.7M $120.6M $113.1M $127.0M $142.3M
Net income — $9.2M $10.8M -$12.6M -$7.7M -$29.2M -$1.8M $4.0M $9.7M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 7372

TickerCompanyMarket capP/ERevenue growth
MSFT MICROSOFT CORP $3.89T 29.2x 17.8%
PLTR Palantir Technologies Inc. $472.16B 312.3x 56.2%
ORCL ORACLE CORP $363.40B 21.6x 17.3%
CRWD CrowdStrike Holdings, Inc. $263.73B — 21.7%
SHOP SHOPIFY INC. $218.48B 179.4x 30.1%
CRM Salesforce, Inc. $204.57B 31.9x 9.6%
NOW ServiceNow, Inc. $164.36B 95.2x 20.9%
NET Cloudflare, Inc. $115.42B — 29.8%