Grid Dynamics reports record Q3 revenue of $87.4M, beats guidance, GAAP net income $4.3M

GRID DYNAMICS HOLDINGS, INC.

2024-Q3 EPS reported -$0.01 revenue$250,289,000

Record Q3 revenue of $87.4M, up 5.3% sequentially and 12.9% YoY, above guidance of $84-$86M.
GAAP net income $4.3M ($0.05 diluted EPS); non-GAAP net income $8.1M ($0.10 diluted EPS).
Non-GAAP EBITDA $14.8M vs $10.7M a year ago; gross margin improved to 37.4% GAAP, 38.0% non-GAAP.
Finance vertical grew 94% YoY to 16.2% of revenue; acquired JUXT and Mobile Computing during Q3.
AI pipeline exceeds 100 opportunities, up 50% from prior quarter; record billable engineers.

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