secwatch.observer — SEC 8-K summary
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Issuer:     GRID DYNAMICS HOLDINGS, INC. (GDYN)
CIK:        0001743725
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001628280-23-027208
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1743725/000162828023027208/0001628280-23-027208-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1743725/000162828023027208/gdyn-20230803.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-027208

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