Skip to main content
GDYN logo

GDYN · Grid Dynamics Holdings, Inc.

Track GDYN — free
$13.21 -0.17 (-1.27%) At close · Nov 13
Market Cap
$1.06B
Shares
80.37M
Volume · Nov 13 1.22M Avg daily vol (3M) 1.29M

Price & Indicators

Drag to pan · scroll to zoom
20d MA 50d MA 200d MA Earnings Filing Insider Congress Investor day
Close$13.21 Open$13.45 Day$13.04–13.46 52W close$5.21–14.06 Avg vol 30d1.6M Short int3.9M · 4.9% of shares · 2.0d Short vol27% Last earningsOct 29, 2026 DataJan 2020–Nov 2026 Filing10-Q · Oct 30

Up next

Mar 4, 2027 Est · unconfirmed · in 16 wks
call held Apr 30, 2026

Latest documents

2026
Nov 9
Annual report to holders ARS
Revenue reaches $411,827 thousand; Finance contributes 24.4%

Grid Dynamics reported total revenue of $411,827 thousand for the year ended December 31, 2025. Finance contributed 24.4%, the 10 largest clients generated 57.7%, and one customer accounted for 15.4%.

Read from the first part of this long document
3 source passages
Grid Dynamics focuses on large enterprises and Fortune 1000 companies. During each of the years ended December 31, 2025 and 2024, we had one customer that accounted for 15.4% and 16.0% of our revenues, respectively. We generated approximately 57.7% and 55.7% of our revenues from our 10 largest clients during the years ended December 31, 2025 and 2024, respectively. Finance 100,384 24.4 % Total$ 411,827 100.0 % Open the document at this passage
Nov 9
Proxy statement DEFA14A
Annual meeting voting closes December 21, 2026

Grid Dynamics Holdings, Inc.’s annual meeting on December 22, 2026 features voting by December 21, 2026 at 11:59 PM ET on director elections, Grant Thornton LLP’s appointment, and advisory executive compensation.

5 source passages
GRID DYNAMICS HOLDINGS, INC. 2026 Annual Meeting Vote by December 21, 2026 11:59 PM ET This is an important notice regarding the availability of proxy material for the stockholder meeting to be held on December 22, 2026. 1. Election of Class I Directors to hold office until the 2029 annual meeting of stockholders or until their successors are elected and qualified. 2. The ratification of the appointment of Grant Thornton LLP as our independent registered public accounting firm for our fiscal year ending December 31, 2026. 3. The approval, on a non-binding advisory basis, of the compensation of our named executive officers. Open the document at this passage
Nov 9
Proxy statement DEF 14A Meeting Dec 22, 2026
Annual Meeting set for December 22, 2026

Grid Dynamics will hold its 2026 Annual Meeting virtually on December 22, 2026, at 7:30 a.m., Pacific Time, with votes on Class I directors, Grant Thornton LLP and executive compensation.

Read from the first part of this long document
4 source passages
The Annual Meeting will be held on December 22, 2026 at 7:30 a.m., Pacific Time, via live audio webcast Proposal No. 1: Election of Leonard Livschitz, Marina Levinson and Shuo Zhang as Class I directors to hold office until the 2029 annual meeting of stockholders or until their successors are elected and qualified, subject to their earlier death, resignation or removal; Proposal No. 2: The ratification of the appointment of Grant Thornton LLP as our independent registered public accounting firm for our fiscal year ending December 31, 2026; and Proposal No. 3: Non-binding advisory vote on the compensation of our named executive officers. Open the document at this passage
Oct 30
Quarterly report 10-Q FY2026 Q3, ended Sep 30
Revenue rose 9.7%, gross margin reached 40.3%

Grid Dynamics reported revenue of $114.3 million for the three months ended September 30, 2026, up 9.7% from the prior-year quarter, as gross margin reached 40.3%. Net income was $6.2 million, or $0.08 per diluted share.

Revenue $114.29M ▲ 9.7% Net income $6.16M ▲ 423.7% Diluted EPS $0.08 ▲ 700.0%
Read from the MD&A section
5 source passages
Grid Dynamics Holdings, Inc. (“Grid Dynamics,” the “Company,” “we,” “us,” or “our”) is an enterprise artificial intelligence (“AI”) transformation partner for the Fortune 1000. Our key metrics for the three months ended September 30, 2026 are presented below: Revenues: Total revenues increased 9.7% year-over-year to $114.3 million, primarily driven by increased demand in our Technology, Media and Telecom vertical. Gross margin: Our gross profit margin for the third quarter reached 40.3%, an increase of 700 basis points compared to 33.3% in the prior-year quarter. Net income and EPS: Net income for the third quarter was $6.2 million, or $0.08 per diluted share, compared to net income of $1.2 million, or $0.01 per diluted share, in the prior-year quarter. Open the document at this passage
Oct 29
Current report 8-K
Record revenue and EBITDA as AI reaches 31%

Grid Dynamics reported record third-quarter 2026 revenue of $114.3 million, up 9.7% year-over-year, and non-GAAP EBITDA of $22.9 million, while AI revenue reached 31% of total revenue. Fourth-quarter revenue is expected at $113.5 to $115.5 million.

Financial results
4 source passages
“Q3 2026 was a pivotal quarter for Grid Dynamics, delivering record revenue, record EBITDA, and AI-native programs in production at some of the world’s largest enterprises. AI revenue has grown over 45% year-over-year for three consecutive quarters and is now 31% of total revenue.” “Total revenues were $114.3 million, up 5.7% sequentially and 9.7% year-over-year.” “Non-GAAP EBITDA (earnings before interest, taxes, depreciation, amortization, other income and expenses, fair value adjustments, stock-based compensation, transaction and transformation-related costs, and restructuring costs as well as geographic reorganization expenses), a non-GAAP metric, was $22.9 million, or 20.0% of revenues, compared to $12.7 million, or 12.2% of revenues, in the third quarter of 2025.” “The Company expects revenues in the fourth quarter of 2026 to be in the range of $113.5 to $115.5 million.” Open the document at this passage
All documents

Metrics snapshot

Useful current figures from the complete screener profile.

Revenue (TTM)
$432.71M
Trailing 12 months
Net income (TTM)
$7.85M
Trailing 12 months
Revenue growth YoY
+9.7%
Year over year
Operating margin
1.7%
Trailing 12 months
P / E (TTM)
132.1
Trailing earnings · reciprocal yield 0.8%
FCF yield
2.5%
TTM · current market cap
Return on invested capital
1.4%
Trailing 12 months
Net cash
$304.29M
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
-4.6%
Year over year · fewer shares
Price change (1Y)
+59.7%
Trailing year
Short interest
4.9%
Latest settlement · 2.0 days to cover
View all 125 metrics

AI Brief

Q4 FY25 earnings call · Mar 5, 2026
Q4 FY25

TL;DR. Grid Dynamics posted record Q4 revenue of $106.2 million and full-year revenue of $411.8 million, up 17.5%, with AI revenue growing 30% for the year. Year-over-year margins and non-GAAP EBITDA declined in Q4, and Q1 2026 guidance points to a sequential revenue decline, while full-year 2026 revenue guidance of $435 to $465 million implies growth.

Bullish
  • + Record full-year 2025 revenue of $411.8 million, up 17.5% year over year
  • + Record Q4 revenue of $106.2 million, slightly above the guidance midpoint, up 5.9% year over year
  • + AI revenue exceeded $90 million in 2025, up 30%, and was 25% of Q4 revenue
  • + Full-year 2026 revenue guided to $435-$465 million, implying 9.3% growth at the midpoint
  • + TMT vertical grew 27.5% year over year, driven by top two technology customers
  • + Operating cash flow rose to $40.6 million for 2025
Bearish
  • − Q4 non-GAAP EBITDA fell to $13.7 million from $15.6 million a year earlier
  • − Q4 non-GAAP gross margin declined to 34.5% from 37.5% a year earlier
  • − Q1 2026 revenue guided to $103-$104 million, below Q4's $106.2 million, with EBITDA of $12-$13 million
  • − Q4 GAAP net income fell to $0.3 million from $4.5 million; non-GAAP EPS fell to $0.10 from $0.12
  • − Retail, the largest vertical, declined 6.9% year over year in Q4
  • − Customer concentration rose, with top five customers at 39.7% of Q4 revenue versus 35.6% a year ago

AI-generated from the earnings call and 8-K · may contain errors · not investment advice

Equibles Rating

blended score · not investment advice
Overall
Neutral
SellHoldBuy
Technical Strong Buy Momentum Very Strong Sentiment Bearish Fundamentals Strong Quant / Vol Very High
Market backdrop VIX 19.3 · elevated Equity put/call 0.63
Technical
price trend
Strong Buy
50 / 200-day cross No cross
Price vs 200-day avg +83%
above
Price vs 50-day avg +43%
above
RSI (14) 70
neutral
MACD trend Positive
52-week position 90%
near high
Volume (OBV) Confirms
volume backs price
Momentum
relative strength
Very Strong
1-month return +70%
trailing
6-month return +89%
trailing
YTD return +46%
this year
Relative strength +88%
vs S&P · 6-mo
Sentiment
smart money
Bearish
Trend (MA cross) No cross
50d $9 › 200d $7 — 50d above 200d
Institutional flow Distributing
168 of 198 funds reported for Sep 30 · net -989.4K sh shares · +25 new
Insider flow Distributing
Net -$1.8M over 90 days · 100% sells
Short interest Rising
4.90% of shares out · ▲ +6.6% MoM · 2.0 days cover
Volume signal Normal
Volume near normal
Institution breadth Steady
198 holders — mid 3-yr range
Squeeze score 60
elevated · 0–100
Fundamentals
Strong
Revenue growth −6%
Y/Y
Gross margin 128%
expanding
EPS growth +120%
Y/Y
Free cash flow $25.3M
Valuation P/E 132.1
rich
Buyback $12.5M
remaining
Balance sheet $342.1M
net cash
Quant / Vol
risk profile
Very High
Volatility 67%
annualized · 1-yr
Max drawdown −48%
past year
ATR 4.8%
of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

Beat or met 8 of last 8
Latest guidance · from the 8-K filed Oct 29, 2026
Revenues · fourth quarter of 2026 $113.5M – $115.5M
prior qtr $114.29M midpoint +0.2% QoQ
Non-GAAP EBITDA · fourth quarter of 2026 Non-GAAP $20M – $22M
Previous outlook earlier release · from the 8-K filed Jul 30, 2026

Still-open targets the latest release did not restate under the same label.

Revenues · full-year 2026 $435M – $465M
Prior guidance period ended · from the 8-K filed Jul 30, 2026
Revenues · third quarter of 2026 $112M – $114M
Non-GAAP EBITDA · third quarter of 2026 $16.5M – $17.5M
Guided vs delivered · last 8 settled
Revenues third quarter of 2026
guided $112M – $114M
$114.29M Beat +1.1%
Revenues second quarter
guided $106M – $108M
$108.16M Beat +1.1%
Revenues first quarter of 2026
guided $103M – $104M
$104.1M Beat +0.6%
Revenue fourth quarter of 2025
guided $105M – $107M
$106.15M In line

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Strong Buy
0 · 3 · 4
50 / 200-day cross
No cross Neutral
Price vs 200-day avg
+83% Bullish
Price vs 50-day avg
+43% Bullish
RSI (14)
70 Neutral
MACD trend
Positive Bullish
52-week position
90% Bullish
Volume (OBV)
Confirms Neutral
Market signals — smart money & positioning
Bearish · 3 of 6
Trend (MA cross) No cross
50d $9 › 200d $7 — 50d above 200d
Institutional flow Distributing
168 of 198 funds reported for Sep 30 · net -989.4K sh shares · +25 new
Insider flow Distributing
Net -$1.8M over 90 days · 100% sells
Short interest Rising
4.90% of shares out · ▲ +6.6% MoM · 2.0 days cover
Volume signal Normal
Volume near normal
Institution breadth Steady
198 holders — mid 3-yr range
Price context
position in its 52-week range
Range low $5 Now $13 · 90% Range high $14
vs 200-day avg +83% vs 50-day avg +43%

Illustrative technical + ownership context — a signal mix, not investment advice.

Key metrics

the company's own KPIs, from written earnings releases and filings
Metric Latest Period YoY
AI Revenues 30.7% second quarter 2026 —
Customers below top twenty revenue 24.99M Three Months Ended June 30, 2026 filing —
Non-GAAP diluted EPS non-GAAP $0.19 Six Months Ended June 30, 2026 —
Non-GAAP EBITDA non-GAAP 27.24M Six Months Ended June 30, 2026 —
Non-GAAP net income non-GAAP 16.45M Six Months Ended June 30, 2026 —
Revenues by customer location - India 4.85M Three Months Ended June 30, 2026 filing —
Revenues by customer location - Other 11.49M Three Months Ended June 30, 2026 filing —
Revenues by customer location - Poland 3.99M Three Months Ended June 30, 2026 filing —
Revenues by customer location - United Kingdom 13.35M Three Months Ended June 30, 2026 filing —
Revenues by customer location - United States 74.48M Three Months Ended June 30, 2026 filing —
Top one customer revenue 18.83M Three Months Ended June 30, 2026 filing —
Top ten customers revenue 66.56M Three Months Ended June 30, 2026 filing —
Top twenty customers revenue 83.17M Three Months Ended June 30, 2026 filing —
Total headcount 4,838 as of June 30, 2026 —

Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period

Versus peers

Information Technology Services — same industry group
Open screener →
Company Mkt cap YTD Rev growth Y/Y P/E Short % shares
GDYN
Grid Dynamics Holdings, Inc.
this stock
$1.06B +46.3% -6.0% 132.1 4.9%
IBM
International Business Machines Corp
$233.57B -16.6% +7.6% 21.0 1.9%
ACN
Accenture plc
$167.58B -6.6% +6.5% 18.5 3.2%
INFY
Infosys Ltd
$49.78B -31.0% — — 2.1%
CTSH
Cognizant Technology Solutions Corp
$28.17B -24.1% +7.0% 11.5 5.2%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section
Ownership
Institutional Holders Reducing
Holders
202
% held
76.9%
Reported
168 of 198
Top holder
BlackRock, Inc.
Held Float
View
Held by Funds
Fund positions
173
View
Short & Settlement
Short Interest Rising
Shares short
3.9M
Days to cover
2.0d
Change
+244.4K sh
View
Short Volume
Short vol %
27%
As of
Nov 13, 2026
Short Total
View
Fails to Deliver
FTD shares
16
Value
$124
As of
Oct 14, 2026
View
Off-Exchange
Off-exchange %
32.3%
Week of
Oct 5, 2026
Off-exch Lit
View
Smart Money
Insider Trades Net selling
Net (90d)
-$1.8M
Buyers / Sellers
0 / 3
Buyers Sellers
View
Financials
Financials
Revenue (FY)
$411.8M
Net income (FY)
$9.7M
EPS diluted
$0.11
View
Buybacks
Authorized
$50.0M
Remaining
$12.5M
Spent Remaining
View
Filings
SEC Filings
Latest
DEF 14A
Filed
Nov 9, 2026
This year
13

Grid Dynamics will hold its 2026 Annual Meeting virtually on December 22, 2026, at 7:30 a.m., Pacific Time, with votes on Class I directors, Grant Thornton LLP and executive compensation.

View
Proposed Sales
Value
$138.4K
Shares
10.0K
Filed
Nov 12, 2026
View
Exempt Offerings
Offering
$265.8M
Filed
Mar 20, 2020
View
Earnings & Events
Webcasts
Last webcast
Oct 29, 2026
View
Investor Relations
Latest news
Grid Dynamics Reports Record Thir…
Published
Oct 29, 2026
View

Performance

5D 20D 120D MTD YTD
GDYN +0.8% +69.6% +88.7% -1.1% +46.3%
SPY +2.6% -1.2% +0.5% -0.2% +10.6%
vs SPY -1.8% +70.7% +88.2% -0.9% +35.7%

Capital returns

Buyback program · as of Sep 30, 2026
Authorized
$50.00M
Spent (derived)
$37.50M
Remaining
$12.50M
Spent Remaining

Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.

Key facts CIK 1743725 CUSIP 39813G109 13F (30d) 159 filings 136 filers Visit website Investor relations