Grid Dynamics Holdings (GDYN) Financial Statements & Analysis

Grid Dynamics Holdings (GDYN) Income Statement

Grid Dynamics Holdings reported revenue of $411.83M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 17.5% from $350.57M a year earlier. Net income was $9.67M, up 139.2% year over year, a net margin of 2.3%. Gross margin was 34.6% and operating margin -0.4%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $108.16M, up 7.0% from the same quarter a year earlier.

Grid Dynamics Holdings Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Grid Dynamics Holdings, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	411.83	350.57	312.91	310.48	211.28	111.28	118.33	91.87	70.68
Cost of Revenue	269.48	223.57	199.76	189.89	123.55	69.66	70.09	52.56	40.64
Gross Profit	142.35	127.01	113.15	120.59	87.73	41.62	48.24	39.31	30.05
Operating Expenses
Research & Development	23.67	18.35	14.74	15.77	8.46	9.31	4.35	2.64	1.98
Selling, General & Administrative	120.28	105.32	103.99	114.20	79.22	46.25	23.47	22.83	14.97
Operating Expenses	143.94	129.11	118.73	141.60	87.68	55.56	32.61	25.48	16.94
Operating Income	-1.60	-2.11	-5.58	-21.01	0.05	-13.94	15.63	13.83	13.11
Other Income/Expense
Interest Income	17.60	13.16	0.00	0.56	0.00	0.00	0.00	0.00	0.00
Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Income/Expense	17.30	13.16	10.42	0.56	-2.50	-0.06	-0.18	-0.75	0.00
Income
Income Before Tax	15.70	11.06	4.84	-20.45	-2.45	-15.21	15.45	13.08	13.11
Income Tax Expense	6.03	7.01	6.60	8.76	5.25	-2.61	4.64	3.86	-0.08
Net Income	9.67	4.04	-1.77	-29.21	-7.70	-12.60	10.81	9.23	13.18
Net Income - Continuous Operations	9.67	4.04	-1.77	-29.21	-7.70	-12.60	10.81	9.23	13.18
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	23.21	17.56	16.96	-2.76	5.10	-11.26	17.94	15.14	15.64
EBIT	-1.60	3.34	-4.58	-9.39	0.05	-13.94	-	-	-
Depreciation & Amortization	24.80	14.23	12.12	6.63	5.05	2.67	2.31	1.31	0.66
Earnings Per Share
Basic EPS	-	-	-	-	-	-	-	-	2.00
Diluted EPS	-	-	-	-	-	-	-	-	2.00
Basic Shares Outstanding	84.54	77.47	75.19	69.20	58.66	44.74	50.23	50.83	5.50
Diluted Shares Outstanding	86.89	79.97	75.19	69.20	58.66	44.74	50.23	50.83	5.50

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Grid Dynamics Holdings Financial Statements

What was Grid Dynamics Holdings's revenue in fiscal 2025?

Grid Dynamics Holdings reported revenue of $411.83M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 17.5% from $350.57M a year earlier.

Is Grid Dynamics Holdings profitable?

Yes. Grid Dynamics Holdings earned net income of $9.67M in fiscal 2025, a net margin of 2.3%. In fiscal 2024 it earned $4.04M.

What is Grid Dynamics Holdings's operating margin?

Grid Dynamics Holdings's operating income was −$1.59M on revenue of $411.83M in fiscal 2025, an operating margin of -0.4%, compared with -0.6% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition