Grid Dynamics Q2 2023: record GAAP net income $2.6M, revenue $77.3M flat YoY

GRID DYNAMICS HOLDINGS, INC.

2023-Q2 EPS reported -$0.07 revenue$157,422,000

GAAP net income $2.6M ($0.03/share) vs loss $13.2M a year ago; non-GAAP net income $7.0M ($0.09 diluted).
Revenue $77.3M flat YoY; non-GAAP EBITDA $12.0M vs $13.3M prior year.
Finance vertical (8.7% of rev) grew 33.7% YoY; Retail (33.7%) grew 2.3% YoY; CPG & Manufacturing fell 32.4%.
Signed large enterprise customers in healthcare, digital payments, and hospitality; announced Google Cloud Gen AI partnership.
Management says Q2 profitability significantly exceeded guidance; completed nine AI projects in the quarter.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GRID DYNAMICS HOLDINGS, INC. reported the second quarter ended June 30, 2023 results: revenue $77.3 million, net income $2.6 million, EPS $0.03 per share.

Period: the second quarter ended June 30, 2023
Revenue: $77.3 million
Net income: $2.6 million
EPS: $0.03 per share
Result: reported results

Exact text from the filing

by reference in such filing. --- EX-99.1 (EX-99.1) --- Grid Dynamics Reports Second Quarter 2023 Financial Results Record GAAP Net Income of $2.6 million and Revenue of $77.3 million San Ramon, Calif. August 3, 2023 – Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) (“Grid Dynamics” or “Company”), a leader in enterprise-level digital transformation, today

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Source: SEC EDGAR

accession 0001628280-23-027208

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