Grid Dynamics (GDYN) Q3 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025

Earnings

Grid Dynamics delivered a mixed third quarter, posting revenue of $104.16 million, up 19.1% year-over-year and nudging ahead of the $103.70 million consensus by 0.44%, while earnings fell just short of expectations, with non-GAAP diluted EPS of $0.09… Read more Grid Dynamics delivered a mixed third quarter, posting revenue of $104.16 million, up 19.1% year-over-year and nudging ahead of the $103.70 million consensus by 0.44%, while earnings fell just short of expectations, with non-GAAP diluted EPS of $0.09 missing the $0.09 estimate by 3.74%. The profit shortfall traced back to margin compression tied to aggressive headcount expansion and acquisition integration costs, with GAAP net income sliding to $1.18 million from $4.28 million a year ago and non-GAAP EBITDA contracting to $12.70 million from $14.81 million. The top-line momentum was driven by surging AI demand, with AI-related services accounting for more than 25% of organic revenue and billable engineer additions running five times the pace of the prior quarter. To reinforce confidence in its trajectory, the board authorized a $50 million share repurchase program alongside a commitment to expand margins by at least 300 basis points over the next 12 months. For Q4, management guided revenue of $105 million to $107 million, with full-year 2025 revenue expected between $410.70 million and $412.70 million, representing growth of 17.1% to 17.7%.