secwatch.observer — SEC 8-K summary
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Issuer:     GRID DYNAMICS HOLDINGS, INC. (GDYN)
CIK:        0001743725
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001628280-23-015711
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Grid Dynamics Q1 revenue up 12.1% to $80.1M; GAAP net loss widens to $8.0M
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- GAAP net loss $(8.0)M ($(0.11)/share) vs $(2.7)M ($(0.04)/share) YoY; non-GAAP net income $6.5M ($0.08/diluted).
- Non-GAAP EBITDA $10.8M vs $11.4M YoY; GAAP gross margin 35.7% (37.5% YoY), non-GAAP gross margin 36.3% (37.8% YoY).
- TMT vertical (33.5% of revenue) grew 25% YoY; Finance vertical grew 43.9% YoY; CPG & Manufacturing fell 15.6% YoY.
- Signed new enterprise clients in global pharma and US telecom; established partnerships in supply-chain and marketing areas.
- Total headcount and operating cash flow not disclosed; CEO cited strong pipeline and AI generative applications with clients.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1743725/000162828023015711/0001628280-23-015711-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1743725/000162828023015711/gdyn-20230504.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-015711

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer