Grid Dynamics (GDYN) Q4 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025

Earnings

Grid Dynamics delivered a modest but clean beat in Q4 2025, with revenue of $106.15 million edging past the $105.92 million consensus by 0.22% and non-GAAP diluted EPS of $0.10 clearing the $0.09 estimate by 9.41%, as the company's Technology, Media … Read more Grid Dynamics delivered a modest but clean beat in Q4 2025, with revenue of $106.15 million edging past the $105.92 million consensus by 0.22% and non-GAAP diluted EPS of $0.10 clearing the $0.09 estimate by 9.41%, as the company's Technology, Media and Telecom vertical surged 27.5% year-over-year to anchor the quarter's 5.9% top-line growth. AI-related work was the clearest engine behind the results, accounting for 25% of Q4 revenue and exceeding $90 million for full-year 2025, reflecting 30% annual growth driven by engagements with clients that include leading global technology and payment companies. The positive headline, however, was tempered by notable margin compression, with GAAP gross margin contracting to 34.0% from 36.9% a year ago and GAAP net income falling sharply to $306,000 from $4.52 million, a pressure analysts have flagged as a concern given the thin 2.3% net margin. Looking ahead, management guided Q1 2026 revenue of $103 to $104 million and full-year 2026 revenue of $435 to $465 million, implying roughly 9.3% growth at the midpoint, though the near-term sequential step-down suggests near-term caution remains warranted.