Companies /Technology
Grid Dynamics Holdings Inc - Class A
NASDAQ: GDYN Information Technology Services
$14.06
▲ $0.76 (+5.71%) today
Markets closed · 5:13pm ET

Grid Dynamics (GDYN) Q3 2026 Earnings

Reported Oct 29, 2026, 4:11pm ET · SEC source
$0.18
Beat +37.72%
EPS · est. $0.13 Adjusted
$114.3M
Beat +1.35%
Revenue · est. $112.8M
4 quarters
Consecutive EPS beats

How Did GDYN Stock React to Q3 2026 Earnings?

% change · around the report
0+20%Oct 29Oct 30report 4:11pm ETearnings−1.1%+33.3%
0+20%Oct 29Oct 30earnings−1.1%+33.3%
GDYN +33.3%S&P 500 −1.1%
0+20%Oct 29Oct 30report 4:11pm ETearnings−1.9%+33.3%
0+20%Oct 29Oct 30earnings−1.9%+33.3%
GDYN +33.3%NASDAQ −1.9%
0+20%+40%Oct 28Nov 3report 4:11pm ETearnings−1.3%+35.9%
0+20%+40%Oct 28Nov 3earnings−1.3%+35.9%
GDYN +35.9%S&P 500 −1.3%
0+20%+40%Oct 28Nov 3report 4:11pm ETearnings−2.7%+35.9%
0+20%+40%Oct 28Nov 3earnings−2.7%+35.9%
GDYN +35.9%NASDAQ −2.7%
+40.78%
Day of report
+2.47%
Next session
−1.95%
One week

Did GDYN Beat Earnings? Q3 2026 Results

Yes. Grid Dynamics reported Q3 2026 earnings of $0.18 a share on Oct 29, 2026, beating the $0.13 consensus estimate by 37.7%. Revenue was $114.3M against a $112.8M estimate.

Grid Dynamics Holdings delivered a strong third quarter of 2026, beating analyst expectations on both the top and bottom lines as accelerating AI demand and sharply expanded margins drove the outperformance. The company posted adjusted non-GAAP earnings of $0.18 per diluted share, clearing the $0.13 consensus by 37.72%, while revenue of $114.29 million edged ahead of the $112.77 million estimate by 1.35% and grew 9.7% year-over-year. The clearest engine behind the results was AI-driven work, which has grown more than 45% year-over-year for three consecutive quarters and now accounts for 31% of total revenue, with the Technology, Media and Telecom vertical, the largest segment at 32.3% of revenue, expanding 29.3% year-over-year. Margin improvement was equally notable, with non-GAAP EBITDA reaching a 20.0% margin versus 12.2% a year earlier, which management said exceeded its 300 basis point improvement target ahead of schedule. Looking ahead, Grid Dynamics guided Q4 2026 revenue to $113.50 million to $115.50 million, with management expressing confidence heading into year-end and signaling a positive outlook for 2027.

Key Takeaways
  • AI revenue grew over 45% year-over-year for three consecutive quarters and reached 31% of total revenue
  • TMT revenue rose 29.3% YoY and 7.6% sequentially on higher demand from the largest technology customers and new customers
  • Retail revenue rose 13.3% YoY and 8.5% sequentially on increased demand from specialty retailers
  • Finance revenue rose 3.9% sequentially on ongoing demand from global capital markets customers
  • CPG/Manufacturing revenue rose 5.8% sequentially
  • GAAP gross margin expanded to 40.3% from 33.3% a year earlier
  • Non-GAAP EBITDA margin reached 20.0% versus 12.2% a year earlier, exceeding the 300 bps margin commitment a quarter early
  • Revenue grew while headcount fell to 4,559 from 4,971 a year earlier

“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.”

Grid Dynamics CEO, on the earnings call

What Is Grid Dynamics's Outlook?

For the fourth quarter of 2026, Grid Dynamics expects revenues of $113.5 million to $115.5 million and Non-GAAP EBITDA of $20.0 million to $22.0 million. It expects a basic share count of 81–82 million and a diluted share count of 82–83 million. The company did not provide GAAP net income targets because certain excluded items are difficult to predict. Management said it enters the fourth quarter with confidence and sees a positive backdrop for 2027.

GDYN YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$40.0M$80.0M$120.0M$104.2M$114.3MRevenue$34.7M$46.1MGross Profit$228,923$9.1MOperating Income$1.2M$6.2MNet Income
$0$40.0M$80.0M$120.0MRevenueGross ProfitOperating IncomeNet Income
GDYN income statement, Q3 2026 versus Q3 2025
Metric Q3 2026 Q3 2025 Year over year
Revenue $114.3M $104.2M +9.7%
Gross Profit $46.1M $34.7M +32.8%
Operating Income $9.1M $228,923 +3,891.3%
Net Income $6.2M $1.2M +423.7%

GDYN Revenue by Segment

Technology, Media and Telecom$37.0M+29.3%
Retail$31.1M+13.3%
Finance$25.7M+0.3%
CPG/Manufacturing$12.5M+14.4%
Other$6.0M−21.7%
Healthcare and Pharma$2.1M−14.5%

Figures from SEC filings and company reports. Not investment advice.