Overview
2006Founded1
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- TickerGDYN on Nasdaq1
- IndustryPrepackaged Software, information technology, information technology consulting1
- HeadquartersSan Ramon1
- Websitewww.griddynamics.com
- Legal formcorporation1
- Incorporated inDE4
- Business address6101 Bollinger Canyon Road, Suite 465, San Ramon, Ca 945834
- Filer categoryAccelerated filer4
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
34.6%Gross margin6
-0.5%Operating margin6
2.3%Net margin6
17.5%Revenue growth, 20256
1.8%Return on equity6
$25.3MFree cash flow6
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Retail brought in 29% of the revenue Grid Dynamics Holdings broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Retail | $102.6M | $114.0M | $120.5M |
| Technology and telecommunications | $98.8M | $95.0M | $107.5M |
| Financial Service | $28.8M | $60.2M | $100.4M |
| Manufactured Product, Other | $42.9M | $40.5M | $43.1M |
| Product and Service, Other | $26.2M | $29.8M | $30.2M |
| Health Care | $13.7M | $11.1M | $10.2M |
Regions
North America brought in 35% of the revenue Grid Dynamics Holdings broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| North America | $239.0M | $279.2M | $289.4M |
| United States | $238.2M | $277.7M | $289.1M |
| Europe | $60.8M | $56.3M | $86.4M |
| Other Countries Not Separately Disclosed | $41.0M | $41.5M | $63.5M |
| United Kingdoms | $31.9M | $25.3M | $45.2M |
| Other Geographic Regions Not Individually Disclosed | $13.2M | $15.0M | $36.1M |
| PL | $1.9M | $6.0M | $14.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue65¢$269.5M
- Research and development6¢$23.7M
- Other costs25¢$103.0M
- Income tax1¢$6.0M
- Profit2¢$9.7M
Out of $411.8M in revenue.6
Where each dollar of operating cash went, fiscal 2025
- Capital spending38¢$15.3M
- Share buybacks5¢$2.0M
- Kept or used elsewhere57¢$23.3M
Out of $40.6M of cash from operations.6
Financial statements
Every line of the income statement in the latest annual report, as filed.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenues | $411.8M | $350.6M | $312.9M |
| Cost of revenues | $269.5M | $223.6M | $199.8M |
| Gross profit | $142.3M | $127.0M | $113.1M |
| Engineering, research, and development | $23.7M | $18.3M | $14.7M |
| Sales and marketing | $30.0M | $28.6M | $24.2M |
| General and administrative | $90.5M | $82.1M | $79.8M |
| Total operating expenses | $144.2M | $129.1M | $118.7M |
| Loss from operations | -$1.9M | -$2.1M | -$5.6M |
| Interest and other income, net | $17.6M | $13.2M | $10.4M |
| Income before income tax | $15.7M | $11.1M | $4.8M |
| Provision for income taxes | $6.0M | $7.0M | $6.6M |
| Net income/(loss) | $9.7M | $4.0M | -$1.8M |
| Basic (in dollars per share) | $0.11 | $0.05 | -$0.02 |
| Diluted (in dollars per share) | $0.11 | $0.05 | -$0.02 |
| Basic (in shares) | 84.5M shares | 77.5M shares | 75.2M shares |
| Diluted (in shares) | 86.9M shares | 80.0M shares | 75.2M shares |
Every line of the balance sheet in the latest annual report, as filed.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $342.1M | $334.7M | $257.2M |
| Trade receivable, net of allowance of $3,721, and $2,747 as of December 31, 2025 and December 31, 2024, respectively | $79.5M | $69.4M | |
| Prepaid expenses and other current assets | $18.0M | $19.3M | |
| Total current assets | $439.5M | $423.3M | |
| Property and equipment, net | $17.7M | $14.0M | |
| Operating lease right-of-use assets, net | $16.4M | $12.1M | |
| Intangible assets, net | $41.6M | $47.9M | |
| Goodwill | $84.4M | $83.4M | $53.9M |
| Deferred tax assets | $8.9M | $8.8M | |
| Other noncurrent assets | $4.5M | $2.7M | |
| Total assets | $612.9M | $592.2M | |
| Accounts payable | $3.7M | $4.1M | |
| Accrued compensation and benefits | $25.6M | $21.7M | |
| Operating lease liabilities, current | $6.3M | $5.4M | |
| Accrued expenses and other current liabilities | $16.6M | $24.4M | |
| Total current liabilities | $52.1M | $55.5M | |
| Deferred Income Tax Liabilities, Net | $7.9M | $8.9M | |
| Operating lease liabilities, noncurrent | $10.8M | $7.2M | |
| Contingent consideration payable, noncurrent | $0 | $2.7M | |
| Total liabilities | $70.8M | $74.4M | |
| Common stock, $0.0001 par value; 110,000,000 shares authorized; 84,842,637 and 83,608,819 issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $8.0K | $8.0K | |
| Additional paid-in capital | $545.2M | $532.6M | |
| Accumulated deficit | -$2.2M | -$11.8M | |
| Accumulated other comprehensive income/(loss) | $1.1M | -$2.9M | |
| Treasury stock | -$2.0M | $0 | |
| Total stockholders equity | $542.1M | $517.8M | |
| Total liabilities and stockholders equity | $612.9M | $592.2M | |
| Allowance for doubtful accounts | $3.7M | $2.7M | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 110.0M shares | 110.0M shares | |
| Common stock, shares issued (in shares) | 84.8M shares | 83.6M shares | |
| Common stock, shares outstanding (in shares) | 84.8M shares | 83.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income/(loss) | $9.7M | $4.0M | -$1.8M |
| Depreciation and amortization | $19.7M | $14.2M | $8.9M |
| Operating lease right-of-use assets amortization expense | $5.1M | $4.5M | $3.2M |
| Bad debt expense | $1.0M | $2.3M | $945.0K |
| Stock-based compensation | $30.3M | $34.2M | $35.5M |
| Deferred income taxes | -$1.3M | -$4.0M | -$4.1M |
| Other income, net | -$6.9M | -$3.1M | -$3.9M |
| Trade receivable | -$11.1M | -$9.5M | $2.1M |
| Prepaid expenses and other assets | $544.0K | -$8.3M | -$511.0K |
| Accounts payable | -$378.0K | -$1.5M | -$538.0K |
| Accrued compensation and benefits | $4.0M | -$274.0K | $5.3M |
| Operating lease liabilities | -$5.0M | -$4.5M | -$3.1M |
| Income taxes, net | -$5.6M | $415.0K | -$1.8M |
| Accrued expenses and other current liabilities | $556.0K | $1.8M | $991.0K |
| Net cash provided by operating activities | $40.6M | $30.2M | $41.1M |
| Purchase of property and equipment | -$15.3M | -$11.8M | -$7.9M |
| Proceeds from sale of equity securities | $0 | $3.6M | $0 |
| Acquisition of business, net of cash acquired | $198.0K | -$43.1M | -$17.8M |
| Other investing activities, net | $0 | -$44.0K | -$250.0K |
| Net cash used in investing activities | -$15.1M | -$51.3M | -$25.9M |
| Proceeds from exercises of stock options | $469.0K | $2.3M | $510.0K |
| Payments of tax obligations resulted from net share settlement of vested stock awards | -$18.2M | -$8.7M | -$16.8M |
| Payments for repurchases of common stock | -$2.0M | $0 | $0 |
| Debt and equity issuance costs | -$253.0K | -$472.0K | $0 |
| Proceeds from common stock offering | $0 | $108.1M | $0 |
| Net cash (used in)/provided by financing activities | -$19.9M | $101.2M | -$16.3M |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | $1.4M | -$2.1M | $1.7M |
| Net increase in cash, cash equivalents, and restricted cash | $6.9M | $77.9M | $498.0K |
| Cash paid for income taxes, net of refunds | $12.4M | $11.0M | $12.4M |
Leadership
Who has led Grid Dynamics Holdings, and when. Pick a name to see everywhere that person has worked.
Chief executive
2010201520202025
- Chief executive officerLeonard Livschitz 2014 to now1
Board members and other officers (3)
- Board memberLloyd Carney 2018 to now1
- Board memberEric Benhamou 2006 to now1
- Board memberLeonard Livschitz 2006 to now1
Employees over time
- 20264,8381
Former names
- ChaSerg Technology Acquisition CorpJun 15, 2018 to Mar 5, 20204
Timeline
Recent filings
- Oct 8, 2026144
- Oct 8, 20264
- Oct 5, 20264
- Oct 2, 2026144
- Oct 2, 20264
- Oct 2, 20264
- Oct 2, 20264
- Sep 3, 2026144
- Sep 3, 20264
- Aug 24, 20264
- Aug 19, 20264
- Aug 18, 2026144
- Aug 17, 20264
- Aug 17, 20264
- Aug 14, 2026SCHEDULE 13G/A
Every filing from the last three years, summarized. The full record is on SEC EDGAR.2
Links
- Websitewww.griddynamics.com1
- YouTubewww.youtube.com/channel/UCFX-U3YT1ANC907BzvhNn7Q1
- LinkedInwww.linkedin.com/company/grid-dynamics1
- WikidataQ140772884
- SEC EDGARCIK 1743725
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
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- 3Company websiteGrid Dynamics Holdings logo
- 4
- 5Wikimedia CommonsGrid Dynamics Holdings photo by Cary Savas, CC BY-SA 4.0
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