Grid Dynamics Holdings, Inc. (GDYN) Financial Statements
Industry: Prepackaged Software (Services)
In fiscal 2025, Grid Dynamics reported revenue of $411.8M, up 17.5% from $350.6M the year before. Net income was $9.7M (a 2.3% net margin), or $0.11 per diluted share. Gross margin was 34.6% and operating margin was -0.5%. Operating activities generated $40.6M of cash, leaving $25.3M of free cash flow. At fiscal year end, Grid Dynamics held $612.9M in total assets against $70.8M in total liabilities, including $342.1M of cash and equivalents.
Open the full interactive Grid Dynamics financials → Quarterly statements, key ratios, valuation history and price charts.
Grid Dynamics Key Stats
| Share Price | $7.78 |
|---|---|
| Market Cap | $645.9M |
| P/E Ratio | 70.7 |
| Revenue YoY Growth | +17.5% |
| 52-Week Range | $5.21 – $10.06 |
| Shares Outstanding | 82.3 million (basic, 2026 Q2) |
Grid Dynamics Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $111.3M | $211.3M | $310.5M | $312.9M | $350.6M | $411.8M |
| Gross Profit | $41.6M | $87.7M | $120.6M | $113.1M | $127.0M | $142.3M |
| Operating Income | -$15.4M | $50,000 | -$21.0M | -$5.6M | -$2.1M | -$1.9M |
| Pre-Tax Income | -$15.2M | -$2.5M | -$20.5M | $4.8M | $11.1M | $15.7M |
| Income Tax | -$2.6M | $5.2M | $8.8M | $6.6M | $7.0M | $6.0M |
| Net Income | -$12.6M | -$7.7M | -$29.2M | -$1.8M | $4.0M | $9.7M |
| Diluted EPS | -$0.28 | -$0.13 | -$0.42 | -$0.02 | $0.05 | $0.11 |
Grid Dynamics Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $104.2M | $106.2M | $104.1M | $108.2M |
| Net Income | $1.2M | $306,000 | -$1.5M | $2.9M |
| Diluted EPS | $0.01 | $0.00 | -$0.02 | $0.03 |
Grid Dynamics Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $112.7M | $144.4M | $256.7M | $257.2M | $334.7M | $342.1M |
| Current Assets | $134.6M | $192.8M | $323.1M | $324.0M | $423.3M | $439.5M |
| Total Assets | $167.1M | $256.7M | $411.1M | $435.2M | $592.2M | $612.9M |
| Current Liabilities | $13.3M | $25.3M | $38.7M | $42.2M | $55.5M | $52.1M |
| Total Liabilities | $15.4M | $29.7M | $48.1M | $52.3M | $74.4M | $70.8M |
| Shareholders' Equity | $151.7M | $227.1M | $363.0M | $382.9M | $517.8M | $542.1M |
Grid Dynamics Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $5.9M | $18.0M | $31.7M | $41.1M | $30.2M | $40.6M |
| Cash From Investing | -$18.3M | -$35.4M | -$16.3M | -$25.9M | -$51.3M | -$15.1M |
| Cash From Financing | $83.0M | $49.1M | $97.8M | -$16.3M | $101.2M | -$19.9M |
| Free Cash Flow | $3.7M | $13.3M | $25.6M | $33.2M | $18.4M | $25.3M |
| Dividends Paid | — | $0 | — | — | — | — |
Figures from Grid Dynamics' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Grid Dynamics financials page for every line item.
Grid Dynamics Company Profile
| Ticker | GDYN |
|---|---|
| Exchange | Nasdaq |
| Industry | Prepackaged Software (Services) |
| Headquarters | San Ramon, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer |
| SEC CIK | 0001743725 |
Frequently Asked Questions
What was Grid Dynamics' revenue in fiscal 2025?
Grid Dynamics (GDYN) reported revenue of $411.8M for fiscal 2025.
What is Grid Dynamics' annual revenue history?
Grid Dynamics' annual revenue by fiscal year: 2020: $111.3M; 2021: $211.3M; 2022: $310.5M; 2023: $312.9M; 2024: $350.6M; 2025: $411.8M.
What was Grid Dynamics' net income in fiscal 2025?
Grid Dynamics reported net income of $9.7M for fiscal 2025.
What was Grid Dynamics' earnings per share (EPS) in fiscal 2025?
Grid Dynamics' diluted EPS was $0.11 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Grid Dynamics generate in fiscal 2025?
Grid Dynamics generated $25.3M of free cash flow in fiscal 2025.
What was Grid Dynamics' revenue last quarter?
In its most recent reported quarter (2026 Q2), Grid Dynamics reported revenue of $108.2M.
How many shares of Grid Dynamics are outstanding?
Grid Dynamics reported a weighted average of 82.3 million basic shares outstanding in 2026 Q2.
What is Grid Dynamics' market cap?
Based on its latest closing price, Grid Dynamics (GDYN) has a market capitalization of about $645.9M.
When does Grid Dynamics' fiscal year end?
Grid Dynamics' fiscal year end, as registered with the SEC, is December 31.
Where is Grid Dynamics headquartered?
Grid Dynamics lists its business address in San Ramon, California in its SEC filings.