Grid Dynamics Holdings Inc Class A (GDYN) financials
Grid Dynamics revenue and earnings by year
Grid Dynamics's revenue was $412 million in the fiscal year to December 31, 2025, up 17.5% from the year before. Net income was $9.67 million, 2.3% of revenue. Since the fiscal year to December 31, 2018, revenue has grown 23.9% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 8 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 412 | 351 | 313 | 310 | 211 | 111 | 118 | 92 |
| Revenue growth | 17.5% | 12.0% | 0.8% | 47.0% | 89.9% | -6.0% | 28.8% | — |
| Gross profit | 142 | 127 | 113 | 121 | 88 | 42 | 48 | 39 |
| Gross margin | 34.6% | 36.2% | 36.2% | 38.8% | 41.5% | 37.4% | 40.8% | 42.8% |
| Operating income | -2 | -2 | -6 | -21 | 0 | -15 | 16 | 14 |
| Operating margin | -0.5% | -0.6% | -1.8% | -6.8% | 0.0% | -13.9% | 13.2% | 15.1% |
| Net income | 10 | 4 | -2 | -29 | -8 | -13 | 11 | 9 |
| Net margin | 2.3% | 1.2% | -0.6% | -9.4% | -3.6% | -11.3% | 9.1% | 10.0% |
| Diluted EPS | $0.11 | $0.05 | -$0.02 | -$0.42 | -$0.13 | -$0.28 | $0.49 | — |
| Free cash flow | 25 | 18 | 33 | 26 | 13 | 4 | 10 | 8 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open GDYN in Markets.
How Grid Dynamics makes money
Revenue by segment in the quarter to September 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Technology Media & Telecom | $37.0M | 32.3% |
| Retail | $31.1M | 27.2% |
| Financial Service | $25.7M | 22.5% |
| Manufactured Product Other | $12.5M | 10.9% |
| Product & Service Other | $6.01M | 5.3% |
| Health Care | $2.07M | 1.8% |
See also: GDYN valuation and P/E history · GDYN returns
No forecast, no recommendation. This page describes Grid Dynamics Holdings Inc Class A from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.