---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-027208"
form_type: "8-K"
ticker: "GDYN"
cik: "0001743725"
company_name: "GRID DYNAMICS HOLDINGS, INC."
filed_at: "2023-08-03T23:59:59+00:00"
generated_at: "2026-06-12T08:52:15.056699+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-23-027208
- form_type: 8-K
- ticker: GDYN
- cik: 0001743725
- company_name: GRID DYNAMICS HOLDINGS, INC.
- filed_at: 2023-08-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1743725/000162828023027208/0001628280-23-027208-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1743725/000162828023027208/gdyn-20230803.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-027208
- JSON: https://secwatch.observer/filing/0001628280-23-027208.json
- Plain text: https://secwatch.observer/filing/0001628280-23-027208.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1743725/000162828023027208/0001628280-23-027208-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.