Grid Dynamics Holdings Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	405.96	350.57	312.91	310.48	211.28	111.28
Revenue Growth (YoY)	23.63%	12.04%	0.78%	46.95%	89.86%	-5.95%
Cost of Revenue	262.7	223.57	199.76	189.89	123.55	69.66
Gross Profit	143.26	127.01	113.15	120.59	87.73	41.62
Selling, General & Admin	115.33	105.32	99.64	114.2	78.32	46.25
Research & Development	24.39	18.35	14.74	15.77	8.46	9.31
Operating Expenses	139.72	123.67	114.38	129.98	86.78	55.56
Operating Income	3.54	3.34	-1.23	-9.39	0.95	-13.94
Currency Exchange Gain (Loss)	-1	-1	-2.3	-1.5	-0.7	0.3
Other Non Operating Income (Expenses)	13.92	14.16	8.52	2.06	-0.82	-0.06
EBT Excluding Unusual Items	16.46	16.5	4.98	-8.83	-0.57	-13.7
Merger & Restructuring Charges	-3.05	-3.81	-2.49	-0.6	-0.9	-1.51
Other Unusual Items	5.25	-1.63	2.34	-11.02	-0.99	-
Pretax Income	18.66	11.06	4.84	-20.45	-2.45	-15.21
Income Tax Expense	4.77	7.01	6.6	8.76	5.25	-2.61
Net Income	13.89	4.04	-1.77	-29.21	-7.7	-12.6
Net Income to Common	13.89	4.04	-1.77	-29.21	-7.7	-12.6
Net Income Growth	474.04%	-	-	-	-	-
Shares Outstanding (Basic)	83	77	75	69	59	45
Shares Outstanding (Diluted)	88	80	75	69	59	45
Shares Change (YoY)	14.92%	6.36%	8.67%	17.96%	31.13%	111.80%
EPS (Basic)	0.17	0.05	-0.02	-0.42	-0.13	-0.28
EPS (Diluted)	0.16	0.05	-0.02	-0.42	-0.13	-0.28
EPS Growth	457.52%	-	-	-	-	-
Free Cash Flow	23.6	18.43	33.22	25.58	13.26	3.68
Free Cash Flow Per Share	0.27	0.23	0.44	0.37	0.23	0.08
Gross Margin	35.29%	36.23%	36.16%	38.84%	41.52%	37.40%
Operating Margin	0.87%	0.95%	-0.39%	-3.02%	0.45%	-12.52%
Profit Margin	3.42%	1.15%	-0.56%	-9.41%	-3.64%	-11.32%
Free Cash Flow Margin	5.81%	5.26%	10.62%	8.24%	6.28%	3.31%
EBITDA	22.82	17.56	7.69	-2.76	6	-11.26
EBITDA Margin	5.62%	5.01%	2.46%	-0.89%	2.84%	-10.12%
D&A For EBITDA	19.28	14.23	8.93	6.63	5.05	2.67
EBIT	3.54	3.34	-1.23	-9.39	0.95	-13.94
EBIT Margin	0.87%	0.95%	-0.39%	-3.02%	0.45%	-12.52%
Effective Tax Rate	25.58%	63.45%	136.48%	-	-	-

Updated Oct 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q