Grid Dynamics Holdings, Inc. (GDYN)

Grid Dynamics Holdings Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	13.89	4.04	-1.77	-29.21	-7.7	-12.6
Depreciation & Amortization	24.27	18.74	12.12	9.65	5.05	2.67
Stock-Based Compensation	32.01	34.17	35.52	60.97	33.04	20.01
Provision & Write-off of Bad Debts	2.07	2.3	0.95	0.13	0.05	0.4
Other Operating Activities	-11.72	-7.1	-8.04	-3.56	3.59	-4.14
Change in Accounts Receivable	-14.19	-9.49	2.08	-9.85	-19.53	1.82
Change in Accounts Payable	0.73	-1.5	-0.54	1.73	0.96	-0.05
Change in Income Taxes	-4.74	0.42	-1.84	5.08	0.77	-0.58
Change in Other Net Operating Assets	-4.56	-11.37	2.61	-3.27	1.75	-1.6
Operating Cash Flow	37.77	30.2	41.09	31.65	17.97	5.93
Operating Cash Flow Growth	23.09%	-26.51%	29.83%	76.11%	202.98%	-52.67%
Capital Expenditures	-14.18	-11.77	-7.87	-6.07	-4.72	-2.25
Cash Acquisitions	-10.73	-43.07	-17.83	-9.25	-30.65	-16.09
Investment in Securities	3.58	3.58	-0.25	-1	-	-
Other Investing Activities	-	-0.04	-	-	-	-
Investing Cash Flow	-21.33	-51.3	-25.95	-16.32	-35.37	-18.34
Short-Term Debt Issued	-	-	-	5	-	-
Total Debt Issued	-	-	-	5	-	-
Short-Term Debt Repaid	-	-	-	-5	-	-
Total Debt Repaid	-	-	-	-5	-	-
Issuance of Common Stock	109.93	110.33	0.51	110.97	126.46	0.1
Repurchase of Common Stock	-17.76	-8.7	-16.83	-5.76	-76.82	-123.87
Other Financing Activities	-0.73	-0.47	-	-7.46	-0.5	206.73
Financing Cash Flow	91.45	101.16	-16.32	97.76	49.13	82.97
Foreign Exchange Rate Adjustments	-0.6	-2.13	1.68	-0.72	-0.12	-0
Net Cash Flow	107.29	77.93	0.5	112.37	31.62	70.56
Free Cash Flow	23.6	18.43	33.22	25.58	13.26	3.68
Free Cash Flow Growth	22.36%	-44.52%	29.86%	92.98%	260.25%	-62.15%
Free Cash Flow Margin	5.81%	5.26%	10.62%	8.24%	6.28%	3.31%
Free Cash Flow Per Share	0.27	0.23	0.44	0.37	0.23	0.08
Cash Income Tax Paid	11.83	10.97	12.37	7.47	2.45	2.13
Levered Free Cash Flow	37.38	33.46	40.42	51.54	19.46	18.69
Unlevered Free Cash Flow	37.38	33.46	40.42	51.54	19.46	18.69
Change in Working Capital	-22.75	-21.94	2.32	-6.32	-16.05	-0.41

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

SEC Filings: 10-K · 10-Q