Income Statement Grid Dynamics Holdings, Inc.

Stocks

GDYN

US39813G1094

IT Services & Consulting

Real-time Estimate Cboe BZX Other stock markets 17:04:30 09/06/2026 BST			5-day change	1st Jan Change
5.995 ^USD	-7.34%		-20.47%	-33.94%

05-29	Grid Dynamics Shares Fall After Jefferies Downgrade	MT
05-29	Jefferies Downgrades Grid Dynamics to Hold From Buy, Price Target is $8	MT

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Published financial data: GRID DYNAMICS HOLDINGS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	211M	310M	313M	351M	412M
Total Revenues	211M	310M	313M	351M	412M
Cost of Goods Sold, Total	124M	190M	200M	224M	269M
Gross Profit	87.73M	121M	113M	127M	142M
Selling General & Admin Expenses, Total	79.22M	115M	99.64M	105M	116M
R&D Expenses	8.46M	15.77M	14.74M	18.35M	23.66M
Other Operating Expenses, Total	87.68M	131M	114M	124M	140M
Operating Income	50K	-9.98M	-1.23M	3.34M	2.61M
Currency Exchange Gains (Loss)	-700K	-1.5M	-2.3M	-1M	-1.4M
Other Non Operating Income (Expenses)	-816K	2.06M	8.5M	14.16M	19M
EBT, Excl. Unusual Items	-1.47M	-9.43M	4.96M	16.5M	20.21M
Restructuring Charges	-	-	-1.49M	-1.41M	-2.81M
Merger & Related Restructuring Charges	-	-	-1M	-2.4M	-300K
Other Unusual Items	-986K	-11.02M	2.36M	-1.63M	-1.4M
EBT, Incl. Unusual Items	-2.45M	-20.45M	4.84M	11.06M	15.7M
Income Tax Expense	5.25M	8.76M	6.6M	7.01M	6.03M
Earnings From Continuing Operations	-7.7M	-29.21M	-1.76M	4.04M	9.67M
Net Income to Company	-7.7M	-29.21M	-1.76M	4.04M	9.67M
Net Income - (IS)	-7.7M	-29.21M	-1.76M	4.04M	9.67M
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	-7.7M	-29.21M	-1.76M	4.04M	9.67M
Net Income to Common Excl. Extra Items	-7.7M	-29.21M	-1.76M	4.04M	9.67M
Per Share Items
Net EPS - Basic	-0.13	-0.42	-0.02	0.05	0.11
Basic EPS - Continuing Operations	-0.13	-0.42	-0.02	0.05	0.11
Basic Weighted Average Shares Outstanding	58.66M	69.2M	75.19M	77.46M	84.54M
Net EPS - Diluted	-0.13	-0.42	-0.02	0.05	0.11
Diluted EPS - Continuing Operations	-0.13	-0.42	-0.02	0.05	0.11
Diluted Weighted Average Shares Outstanding	58.66M	69.2M	75.19M	79.97M	86.89M
Normalized Basic EPS	-0.02	-0.09	0.04	0.13	0.15
Normalized Diluted EPS	-0.02	-0.09	0.04	0.13	0.15
Dividend Per Share	-	-	-	-	-
Payout Ratio	-	-	-	-	-
Supplemental Items
EBITDA	5.1M	-3.36M	7.69M	17.56M	22.32M
EBITA	2.05M	-7.48M	2.47M	8.34M	10.11M
EBIT	50K	-9.98M	-1.23M	3.34M	2.61M
EBITDAR	9.3M	465K	12.3M	23.99M	30.24M
Effective Tax Rate - (Ratio)	-214.03	-42.83	136.48	63.45	38.42
Current Domestic Taxes	151K	8.72M	4.56M	5.95M	761K
Current Foreign Taxes	2.16M	3.68M	6.18M	5.1M	6.62M
Total Current Taxes	2.32M	12.41M	10.74M	11.05M	7.38M
Deferred Domestic Taxes	2.69M	-3.06M	-2.74M	-3.56M	438K
Deferred Foreign Taxes	240K	-590K	-1.4M	-478K	-1.78M
Total Deferred Taxes	2.93M	-3.64M	-4.14M	-4.03M	-1.34M
Normalized Net Income	-916K	-5.89M	3.1M	10.31M	12.63M
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	1.1M
Selling and Marketing Expenses	14.46M	19.81M	24.15M	28.62M	30.03M
General and Administrative Expenses	60.56M	91.17M	70.88M	70.27M	78.12M
Research And Development Expense From Footnotes	8.46M	15.77M	14.74M	18.35M	23.66M
Net Rental Expense, Total	4.2M	3.82M	4.61M	6.43M	7.92M
Stock-Based Comp., COGS (Total)	664K	1.33M	1.96M	2.08M	2.16M
Stock-Based Comp., R&D Exp. (Total)	2.98M	6.53M	4.87M	3.7M	2.01M
Stock-Based Comp., S&M Exp. (Total)	3.61M	4.46M	3.62M	5.74M	4.97M
Stock-Based Comp., G&A Exp. (Total)	25.79M	48.64M	25.07M	22.64M	21.2M
Total Stock-Based Compensation	33.04M	60.97M	35.52M	34.17M	30.34M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	144M	257M	257M	335M	342M
Total Cash And Short Term Investments	144M	257M	257M	335M	342M
Accounts Receivable, Total	43.31M	53.95M	53.56M	69.37M	79.48M
Other Receivables	931K	931K	-	-	-
Total Receivables	44.24M	54.88M	53.56M	69.37M	79.48M
Prepaid Expenses	3.11M	7M	9.2M	18.78M	17.99M
Restricted Cash	-	-	-	500K	-
Other Current Assets, Total	1.05M	4.52M	4M	-	-
Total Current Assets	193M	323M	324M	423M	440M
Gross Property Plant And Equipment	13.2M	23.04M	29.16M	33.66M	41.13M
Accumulated Depreciation	-8.24M	-8.61M	-12.44M	-15.44M	-18.33M
Net Property Plant And Equipment	4.96M	14.42M	16.72M	18.22M	22.8M
Long-term Investments	-	1M	1.3M	-	-
Goodwill	35.96M	45.51M	53.87M	83.41M	84.36M
Other Intangibles, Total	20.3M	21.86M	31.63M	55.82M	52.86M
Deferred Tax Assets Long-Term	2.73M	5M	6.42M	8.77M	8.86M
Other Long-Term Assets, Total	-	224K	1.25M	2.66M	4.47M
Total Assets	257M	411M	435M	592M	613M
Liabilities
Accounts Payable, Total	2.05M	3.9M	3.62M	4.07M	3.7M
Accrued Expenses, Total	12.99M	15.71M	23.2M	28.07M	33.2M
Current Portion of Leases	-	2.5M	4.24M	5.42M	6.25M
Current Income Taxes Payable	1.98M	10.72M	8.83M	6.82M	2.16M
Unearned Revenue Current, Total	-	1.12M	577K	2.69M	1.47M
Other Current Liabilities	8.32M	4.75M	1.76M	8.48M	5.34M
Total Current Liabilities	25.34M	38.71M	42.22M	55.54M	52.11M
Long-Term Leases	-	5.64M	6.76M	7.2M	10.78M
Deferred Tax Liability Non Current	4.32M	3.76M	3.27M	8.91M	7.92M
Other Non Current Liabilities	-	-	-	2.7M	-
Total Liabilities	29.67M	48.1M	52.26M	74.36M	70.82M
Preferred Stock Convertible	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	7K	7K	8K	8K	8K
Additional Paid In Capital	212M	378M	398M	533M	545M
Retained Earnings	15.09M	-14.12M	-15.89M	-11.84M	-2.18M
Treasury Stock	-	-	-	-	-2M
Comprehensive Income and Other	-126K	-848K	1.27M	-2.91M	1.05M
Total Common Equity	227M	363M	383M	518M	542M
Total Equity	227M	363M	383M	518M	542M
Total Liabilities And Equity	257M	411M	435M	592M	613M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	66.95M	74.83M	75.97M	83.84M	85.15M
ECS Total Common Shares Outstanding	66.85M	74.16M	75.89M	83.61M	84.64M
Book Value / Share	3.4	4.9	5.05	6.19	6.4
Tangible Book Value	171M	296M	297M	379M	405M
Tangible Book Value Per Share	2.55	3.99	3.92	4.53	4.78
Total Debt	0	8.14M	11M	12.62M	17.04M
Net Debt	-144M	-249M	-246M	-322M	-325M
Debt Equivalent Oper. Leases	33.6M	30.59M	36.86M	51.42M	63.34M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	12.2M	13.64M	16.14M	19.01M	21.78M
Full Time Employees	3.27K	3.8K	3.92K	4.73K	4.96K
Accumulated Allowance for Doubtful Accounts (Supple)	315K	443K	1.36M	2.75M	3.72M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-7.7M	-29.21M	-1.76M	4.04M	9.67M
Depreciation & Amortization - CF	3.05M	7.15M	8.42M	13.74M	17.3M
Amortization of Goodwill and Intangible Assets - (CF)	2M	2.5M	3.7M	5M	7.5M
Depreciation & Amortization, Total	5.05M	9.65M	12.12M	18.74M	24.8M
Amortization of Deferred Charges, Total - (CF)	-	71K	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	-	-
Stock-Based Compensation (CF)	33.04M	60.97M	35.52M	34.17M	30.34M
Provision and Write-off of Bad Debts	45K	132K	945K	2.3M	1.03M
Other Operating Activities, Total	3.59M	-3.63M	-8.04M	-7.1M	-8.26M
Change In Accounts Receivable	-19.52M	-9.85M	2.08M	-9.48M	-11.14M
Change In Accounts Payable	957K	1.73M	-538K	-1.5M	-378K
Change In Income Taxes	769K	5.08M	-1.84M	415K	-5.62M
Change in Other Net Operating Assets	1.75M	-3.27M	2.6M	-11.37M	159K
Cash from Operations	17.97M	31.65M	41.09M	30.2M	40.6M
Capital Expenditure	-4.72M	-6.07M	-7.87M	-11.77M	-15.33M
Cash Acquisitions	-30.65M	-9.25M	-17.83M	-43.07M	198K
Investment in Marketable and Equity Securities, Total	-	-1M	-250K	3.58M	-
Other Investing Activities, Total	-	-	-	-44K	-
Cash from Investing	-35.37M	-16.32M	-25.95M	-51.3M	-15.14M
Short Term Debt Issued, Total	-	5M	-	-	-
Total Debt Issued	-	5M	-	-	-
Short Term Debt Repaid, Total	-	-5M	-	-	-
Long-Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-	-5M	-	-	-
Issuance of Common Stock	126M	111M	510K	110M	469K
Repurchase of Common Stock	-76.82M	-5.76M	-16.83M	-8.7M	-20.15M
Issuance of Preferred Stock	-	-	-	-	-
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Other Financing Activities, Total	-498K	-7.46M	-	-472K	-253K
Cash from Financing	49.13M	97.76M	-16.32M	101M	-19.94M
Foreign Exchange Rate Adjustments	-122K	-722K	1.68M	-2.13M	1.38M
Net Change in Cash	31.62M	112M	498K	77.93M	6.9M
Supplemental Items
Cash Income Tax Paid (Refund)	2.45M	7.47M	12.36M	10.97M	12.36M
Levered Free Cash Flow	18.9M	51.24M	40.42M	33.46M	28.36M
Unlevered Free Cash Flow	18.9M	51.17M	40.42M	33.46M	28.36M
Change In Net Working Capital	14.5M	7.14M	-1.43M	9.76M	13.09M
Net Debt Issued / Repaid	-	0	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	0.01	-1.87	-0.18	0.41	0.27
Return on Total Capital	0.02	-2.09	-0.2	0.45	0.3
Return On Equity %	-4.07	-9.9	-0.47	0.9	1.82
Return on Common Equity	-4.07	-9.9	-0.47	0.9	1.82
Margin Analysis
Gross Profit Margin %	41.52	38.84	36.16	36.23	34.56
SG&A Margin	37.49	36.98	31.84	30.04	28.18
EBITDA Margin %	2.41	-1.08	2.46	5.01	5.42
EBITA Margin %	0.97	-2.41	0.79	2.38	2.46
EBIT Margin %	0.02	-3.22	-0.39	0.95	0.63
Income From Continuing Operations Margin %	-3.64	-9.41	-0.56	1.15	2.35
Net Income Margin %	-3.64	-9.41	-0.56	1.15	2.35
Net Avail. For Common Margin %	-3.64	-9.41	-0.56	1.15	2.35
Normalized Net Income Margin	-0.43	-1.9	0.99	2.94	3.07
Levered Free Cash Flow Margin	8.94	16.5	12.92	9.55	6.89
Unlevered Free Cash Flow Margin	8.94	16.48	12.92	9.55	6.89
Asset Turnover
Asset Turnover	1	0.93	0.74	0.68	0.68
Fixed Assets Turnover	54.37	32.03	20.09	20.06	20.08
Receivables Turnover (Average Receivables)	6.82	6.38	5.82	5.7	5.53
Short Term Liquidity
Current Ratio	7.61	8.35	7.67	7.62	8.43
Quick Ratio	7.44	8.05	7.36	7.27	8.09
Operating Cash Flow to Current Liabilities	0.71	0.82	0.97	0.54	0.78
Days Sales Outstanding (Average Receivables)	53.56	57.17	62.7	64.17	65.96
Average Days Payable Outstanding	4.15	5.72	6.87	6.29	5.26
Long Term Solvency
Total Debt/Equity	-	2.24	2.87	2.44	3.14
Total Debt / Total Capital	-	2.19	2.79	2.38	3.05
LT Debt/Equity	-	1.55	1.77	1.39	1.99
Long-Term Debt / Total Capital	-	1.52	1.72	1.36	1.93
Total Liabilities / Total Assets	11.56	11.7	12.01	12.56	11.55
Total Debt / EBITDA	-	17.51	0.89	0.53	0.56
Net Debt / EBITDA	-28.31	-534.6	-20.02	-13.42	-10.75
Total Debt / (EBITDA - Capex)	-	-1.45	2.48	1.03	1.14
Net Debt / (EBITDA - Capex)	-376.93	44.36	-55.58	-26.34	-21.81
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	89.86	46.95	0.78	12.04	17.47
Gross Profit, 1 Yr. Growth %	110.78	37.46	-6.17	12.25	12.08
EBITDA, 1 Yr. Growth %	-145.27	-165.88	-378.8	128.33	27.07
EBITA, 1 Yr. Growth %	-114.82	-465.12	-135.82	238	21.33
EBIT, 1 Yr. Growth %	-100.36	-20.07K	-86.85	-370.26	-21.65
Earnings From Cont. Operations, 1 Yr. Growth %	-38.88	279.4	-93.96	-328.95	139.25
Net Income, 1 Yr. Growth %	-38.88	279.4	-93.96	-328.95	139.25
Normalized Net Income, 1 Yr. Growth %	-89.3	543.25	-156.22	230.96	22.52
Diluted EPS Before Extra, 1 Yr. Growth %	-53.39	221.64	-94.44	-313.02	120
Accounts Receivable, 1 Yr. Growth %	131.76	24.56	-0.72	29.52	14.58
Net Property, Plant and Equip., 1 Yr. Growth %	76.68	190.57	15.96	8.98	25.1
Total Assets, 1 Yr. Growth %	53.6	60.15	5.84	36.08	3.5
Tangible Book Value, 1 Yr. Growth %	33.82	73.12	0.59	27.3	6.93
Common Equity, 1 Yr. Growth %	49.65	59.9	5.47	35.24	4.68
Cash From Operations, 1 Yr. Growth %	202.98	76.11	29.83	-26.51	34.45
Capital Expenditures, 1 Yr. Growth %	109.41	28.69	29.68	49.5	30.32
Levered Free Cash Flow, 1 Yr. Growth %	1.11	171.15	-21.58	-17.21	-15.25
Unlevered Free Cash Flow, 1 Yr. Growth %	1.11	170.78	-21.58	-17.21	-15.25
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	33.63	67.03	21.7	6.26	14.72
Gross Profit, 2 Yr. CAGR %	34.86	70.22	13.57	2.63	12.16
EBITDA, 2 Yr. CAGR %	-46.68	-45.39	13.23	152.3	70.34
EBITA, 2 Yr. CAGR %	-63.89	-26.45	-8.57	10.03	102.51
EBIT, 2 Yr. CAGR %	-94.34	-15.35	13.97	-40.39	45.52
Earnings From Cont. Operations, 2 Yr. CAGR %	-15.59	52.27	-52.12	-62.81	134.04
Net Income, 2 Yr. CAGR %	-15.59	52.27	-52.12	-62.81	134.04
Normalized Net Income, 2 Yr. CAGR %	-69.2	-17.03	196.15	36.68	48.34
Diluted EPS Before Extra, 2 Yr. CAGR %	-48.44	22.44	-57.71	-65.59	116.48
Accounts Receivable, 2 Yr. CAGR %	51.27	69.9	11.2	13.4	21.82
Net Property, Plant and Equip., 2 Yr. CAGR %	31.16	126.58	83.56	12.42	16.76
Total Assets, 2 Yr. CAGR %	89.44	56.84	30.2	20.01	18.68
Tangible Book Value, 2 Yr. CAGR %	79.7	52.21	31.96	13.16	16.67
Common Equity, 2 Yr. CAGR %	104.97	54.69	29.86	19.43	18.98
Cash From Operations, 2 Yr. CAGR %	19.75	130.99	51.21	-2.32	-0.6
Capital Expenditures, 2 Yr. CAGR %	29.53	64.16	29.18	39.24	39.59
Levered Free Cash Flow, 2 Yr. CAGR %	62.07	65.58	44.12	-19.43	-16.24
Unlevered Free Cash Flow, 2 Yr. CAGR %	62.07	65.47	44.12	-19.43	-16.24
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	32	37.93	41.14	18.39	9.87
Gross Profit, 3 Yr. CAGR %	30.69	35.72	39.56	13.13	5.68
EBITDA, 3 Yr. CAGR %	-30.43	-42.79	-11.94	43.06	100.74
EBITA, 3 Yr. CAGR %	-47.33	-21.92	-43.72	41.37	13.67
EBIT, 3 Yr. CAGR %	-84.65	-13.87	-55.43	51.98	-34.7
Earnings From Cont. Operations, 3 Yr. CAGR %	-5.86	39.3	-48.06	-19.34	-30.83
Net Income, 3 Yr. CAGR %	-5.86	39.3	-48.06	-19.34	-30.83
Normalized Net Income, 3 Yr. CAGR %	-51.79	-15.17	-28.71	207.74	31.78
Diluted EPS Before Extra, 3 Yr. CAGR %	-33.99	-5.09	-56.32	-27.51	-36.13
Accounts Receivable, 3 Yr. CAGR %	35.73	41.78	42.04	17	13.79
Net Property, Plant and Equip., 3 Yr. CAGR %	34.74	70.98	81.24	54.28	16.49
Total Assets, 3 Yr. CAGR %	83.24	79.13	37.57	32.13	14.23
Tangible Book Value, 3 Yr. CAGR %	74.84	77.48	32.58	30.39	11.04
Common Equity, 3 Yr. CAGR %	89.47	88.68	36.15	31.63	14.3
Cash From Operations, 3 Yr. CAGR %	19.3	36.18	90.63	18.88	8.65
Capital Expenditures, 3 Yr. CAGR %	15.27	29.25	51.75	35.63	36.2
Levered Free Cash Flow, 3 Yr. CAGR %	25.83	92.4	29.32	19.8	-18.06
Unlevered Free Cash Flow, 3 Yr. CAGR %	25.83	92.31	29.32	19.8	-18.06
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	34.44	27.78	24.26	29.91
Gross Profit, 5 Yr. CAGR %	-	31.43	23.55	21.36	27.88
EBITDA, 5 Yr. CAGR %	-	-26.48	-12.67	-0.42	14.65
EBITA, 5 Yr. CAGR %	-	-13.19	-29.37	-11.92	-6.08
EBIT, 5 Yr. CAGR %	-	-7.79	-38.33	-26.57	-28.45
Earnings From Cont. Operations, 5 Yr. CAGR %	-	17.25	-28.17	-17.86	-5.16
Net Income, 5 Yr. CAGR %	-	17.25	-28.17	-17.86	-5.16
Normalized Net Income, 5 Yr. CAGR %	-	-8.84	-17.62	1.32	8.08
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-11.55	-44.76	-36.75	-17.14
Accounts Receivable, 5 Yr. CAGR %	-	34.38	25.33	29.66	33.58
Net Property, Plant and Equip., 5 Yr. CAGR %	-	63.11	52.48	44.58	52.01
Total Assets, 5 Yr. CAGR %	-	67.53	59.83	52.61	29.68
Tangible Book Value, 5 Yr. CAGR %	-	65.3	56.23	48.24	25.97
Common Equity, 5 Yr. CAGR %	-	71.61	62.9	57.14	29
Cash From Operations, 5 Yr. CAGR %	-	41.7	31.17	19.23	46.91
Capital Expenditures, 5 Yr. CAGR %	-	41.82	20.65	33.15	46.76
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	33.63	35.99	8.7
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	33.63	35.99	8.7