Grid Dynamics Q3 revenue flat at $77.4M; GAAP net income $0.7M, EPS $0.01

GRID DYNAMICS HOLDINGS, INC.

2023-Q3 EPS reported -$0.06 revenue$234,841,000

Revenue $77.4M, flat YoY; GAAP net income $0.7M (EPS $0.01) vs loss of $6.7M in Q3 2022.
Non-GAAP net income $5.9M ($0.08 diluted EPS) vs $11.0M ($0.15) prior year; EBITDA $10.7M vs $17.1M.
Gross margin declined to 36.4% GAAP from 40.3% YoY; non-GAAP gross margin 37.0% vs 40.7%.
Finance vertical revenue grew 20.2% YoY to 9.4% of total; CPG & Manufacturing dropped 39.8% YoY.
Signed 10 new enterprise customers in Q3; total 28 YTD; CEO cites improving demand trends for Q4.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

GRID DYNAMICS HOLDINGS, INC. reported the third quarter ended September 30, 2023 results: revenue $77.4 million, net income $0.7 million, EPS $0.01 per share.

Period: the third quarter ended September 30, 2023
Revenue: $77.4 million
Net income: $0.7 million
EPS: $0.01 per share
Result: reported results

Exact text from the filing

Total revenue was $77.4 million, flat on a year-over-year basis. • GAAP gross profit was $28.2 million or 36.4% of revenue in the third quarter of 2023, compared to GAAP gross profit of $32.7 million or 40.3% of revenue in the third quarter of 2022. Non-GAAP gross profit was $28.7 million or 37.0% of revenue in the third quarter of 2023, compared to Non-GAAP gross profit of $33.0 million or 40.7% of revenue in the third quarter of 2022. • GAAP Net Income attributable to common stockholders was $0.7 million, or $0.01 per share

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Source: SEC EDGAR

accession 0001628280-23-036387

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