Grid Dynamics Hldgs Inc Financials
Grid Dynamics Hldgs Inc (GDYN) reported $411.8M in revenue for fiscal year 2025, up 17.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue growth is strengthening cash generation and liquidity faster than it is widening the core operating margin.
From FY2023 to FY2025, free cash flow stayed positive even though operating income stayed below zero, which is unusual because it means the business model throws off cash before it fully clears its overhead burden. That produced$25.3M of free cash flow on-$1.9M of operating income, showing a cash-generative, low-capex model whose reported profit still looks cleaner than the underlying operating cost structure.
The balance sheet is equity-funded: liabilities are only
Growth is not yet creating much operating leverage: revenue reached
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Grid Dynamics Hldgs Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Grid Dynamics Hldgs Inc has an operating margin of -0.5%, meaning the company loses less than $1 on every $100 of revenue. This results in a profitability score of 34/100. This is up from -0.6% the prior year.
Grid Dynamics Hldgs Inc's revenue surged 17.5% year-over-year to $411.8M, reflecting rapid business expansion. This strong growth earns a score of 75/100.
Grid Dynamics Hldgs Inc carries a low D/E ratio of 0.13, meaning only $0.13 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 78/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 8.43, Grid Dynamics Hldgs Inc holds $8.43 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 96/100.
Grid Dynamics Hldgs Inc has a free cash flow margin of 6.1%, earning a moderate score of 55/100. The company generates positive cash flow after capital investments, but with room for improvement.
Grid Dynamics Hldgs Inc's ROE of 1.8% shows moderate profitability relative to equity, earning a score of 33/100. This is up from 0.8% the prior year.
Grid Dynamics Hldgs Inc scores 6.69, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($622.2M) relative to total liabilities ($70.8M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Grid Dynamics Hldgs Inc passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Grid Dynamics Hldgs Inc generates $4.20 in operating cash flow ($40.6M OCF vs $9.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Grid Dynamics Hldgs Inc generated $411.8M in revenue in fiscal year 2025. This represents an increase of 17.5% from the prior year.
Grid Dynamics Hldgs Inc's EBITDA was $17.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 46.9% from the prior year.
Grid Dynamics Hldgs Inc reported $9.7M in net income in fiscal year 2025. This represents an increase of 139.2% from the prior year.
Grid Dynamics Hldgs Inc earned $0.11 per diluted share (EPS) in fiscal year 2025. This represents an increase of 120.0% from the prior year.
Cash & Balance Sheet
Grid Dynamics Hldgs Inc generated $25.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 37.1% from the prior year.
Grid Dynamics Hldgs Inc held $342.1M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Grid Dynamics Hldgs Inc's gross margin was 34.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.7 percentage points from the prior year.
Grid Dynamics Hldgs Inc's operating margin was -0.5% in fiscal year 2025, reflecting core business profitability. This is up 0.1 percentage points from the prior year.
Grid Dynamics Hldgs Inc's net profit margin was 2.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.2 percentage points from the prior year.
Grid Dynamics Hldgs Inc's ROE was 1.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.0 percentage points from the prior year.
Capital Allocation
Grid Dynamics Hldgs Inc invested $23.7M in research and development in fiscal year 2025. This represents an increase of 29.0% from the prior year.
Grid Dynamics Hldgs Inc spent $2.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Grid Dynamics Hldgs Inc invested $15.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 30.3% from the prior year.
GDYN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $422.6M | $411.8M+17.5% | $350.6M+12.0% | $312.9M+0.8% | $310.5M+47.0% | $211.3M+89.9% | $111.3M-6.0% | $118.3M+28.8% | $91.9M |
| Cost of Revenue | $275.9M | $269.5M+20.5% | $223.6M+11.9% | $199.8M+5.2% | $189.9M+53.7% | $123.6M+77.4% | $69.7M-0.6% | $70.1M+33.4% | $52.6M |
| Gross Profit | $146.7M | $142.3M+12.1% | $127.0M+12.2% | $113.1M-6.2% | $120.6M+37.5% | $87.7M+110.8% | $41.6M-13.7% | $48.2M+22.7% | $39.3M |
| R&D Expenses | $22.9M | $23.7M+29.0% | $18.3M+24.5% | $14.7M-6.5% | $15.8M+86.5% | $8.5M-9.2% | $9.3M+114.2% | $4.3M+64.4% | $2.6M |
| SG&A Expenses | $96.4M | $90.5M+10.2% | $82.1M+2.9% | $79.8M-24.7% | $106.0M+63.7% | $64.8M+71.8% | $37.7M+76.9% | $21.3M+20.9% | $17.6M |
| Operating Income | -$2.1M | -$1.9M+10.0% | -$2.1M+62.3% | -$5.6M+73.4% | -$21.0M-42116.0% | $50K+100.3% | -$15.4M-198.9% | $15.6M+13.0% | $13.8M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $1.8M | N/A |
| Income Tax | $7.1M | $6.0M-14.0% | $7.0M+6.2% | $6.6M-24.6% | $8.8M+66.9% | $5.2M+300.8% | -$2.6M-156.3% | $4.6M+20.4% | $3.9M |
| Net Income | $2.9M | $9.7M+139.2% | $4.0M+329.0% | -$1.8M+94.0% | -$29.2M-279.4% | -$7.7M+38.9% | -$12.6M-216.6% | $10.8M+17.1% | $9.2M |
| EPS (Diluted) | — | $0.11+120.0% | $0.05+350.0% | -$0.02+95.2% | -$0.42-223.1% | -$0.13+53.6% | -$0.28 | $0.49+6.5% | $0.46 |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
GDYN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $612.9M+3.5% | $592.2M+36.1% | $435.2M+5.8% | $411.1M+60.2% | $256.7M+53.6% | $167.1M+133.7% | $71.5M-67.8% | $222.4M |
| Current Assets | $439.5M+3.8% | $423.3M+30.7% | $324.0M+0.3% | $323.1M+67.6% | $192.8M+43.2% | $134.6M+103.9% | $66.0M+5375.2% | $1.2M |
| Cash & Equivalents | $342.1M+2.2% | $334.7M+30.1% | $257.2M+0.2% | $256.7M+77.8% | $144.4M+28.0% | $112.7M+167.2% | $42.2M+4072.1% | $1.0M |
| Accounts Receivable | $79.5M+14.6% | $69.4M+29.5% | $53.6M+10.8% | $48.4M+24.5% | $38.8M+129.9% | $16.9M+21.6% | $13.9M | N/A |
| Goodwill | $84.4M+1.1% | $83.4M+54.8% | $53.9M+18.4% | $45.5M+26.6% | $36.0M+144.8% | $14.7M | $0 | N/A |
| Total Liabilities | $70.8M-4.8% | $74.4M+42.3% | $52.3M+8.6% | $48.1M+62.1% | $29.7M+92.5% | $15.4M+85.7% | $8.3M-95.6% | $189.0M |
| Current Liabilities | $52.1M-6.2% | $55.5M+31.5% | $42.2M+9.1% | $38.7M+52.7% | $25.3M+90.3% | $13.3M+60.5% | $8.3M+1764.7% | $445K |
| Long-Term Debt | N/A | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Total Equity | $542.1M+4.7% | $517.8M+35.2% | $382.9M+5.5% | $363.0M+59.9% | $227.1M+49.6% | $151.7M+180.7% | $54.0M+61.9% | $33.4M |
| Retained Earnings | -$2.2M+81.6% | -$11.8M+25.4% | -$15.9M-12.5% | -$14.1M-193.6% | $15.1M-33.8% | $22.8M+942.1% | -$2.7M-539.8% | $615K |
Not reported in any period shown, so not listed: Inventory.
GDYN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $31.4M | $40.6M+34.4% | $30.2M-26.5% | $41.1M+29.8% | $31.7M+76.1% | $18.0M+203.0% | $5.9M-52.7% | $12.5M+18.4% | $10.6M |
| Capital Expenditures | $15.4M | $15.3M+30.3% | $11.8M+49.5% | $7.9M+29.7% | $6.1M+28.7% | $4.7M+109.4% | $2.3M-19.9% | $2.8M-8.7% | $3.1M |
| Free Cash Flow | $16.0M | $25.3M+37.1% | $18.4M-44.5% | $33.2M+29.9% | $25.6M+93.0% | $13.3M+260.2% | $3.7M-62.2% | $9.7M+29.6% | $7.5M |
| Investing Cash Flow | -$29.4M | -$15.1M+70.5% | -$51.3M-97.7% | -$25.9M-59.0% | -$16.3M+53.8% | -$35.4M-92.8% | -$18.3M-552.4% | -$2.8M+8.7% | -$3.1M |
| Financing Cash Flow | -$38.2M | -$19.9M-119.7% | $101.2M+719.8% | -$16.3M-116.7% | $97.8M+99.0% | $49.1M-40.8% | $83.0M+468.1% | $14.6M | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | $0 | $0-100.0% | $2.0M0.0% | $2.0M |
| Share Buybacks | N/A | $2.0M | $0 | $0 | $0 | $0-100.0% | $123.9M | $0 | N/A |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
GDYN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 34.6%-1.7pp | 36.2%+0.1pp | 36.2%-2.7pp | 38.8%-2.7pp | 41.5%+4.1pp | 37.4%-3.4pp | 40.8%-2.0pp | 42.8% |
| Operating Margin | -0.5%+0.1pp | -0.6%+1.2pp | -1.8%+5.0pp | -6.8%-6.8pp | 0.0%+13.9pp | -13.9%-27.1pp | 13.2%-1.8pp | 15.0% |
| Net Margin | 2.4%+1.2pp | 1.1%+1.7pp | -0.6%+8.9pp | -9.4%-5.8pp | -3.6%+7.7pp | -11.3%-20.5pp | 9.1%-0.9pp | 10.1% |
| Return on Equity | 1.8%+1.0pp | 0.8%+1.2pp | -0.5%+7.6pp | -8.1%-4.7pp | -3.4%+4.9pp | -8.3%-28.3pp | 20.0%-7.7pp | 27.7% |
| Return on Assets | 1.6%+0.9pp | 0.7%+1.1pp | -0.4%+6.7pp | -7.1%-4.1pp | -3.0%+4.5pp | -7.5%-22.7pp | 15.1%+11.0pp | 4.2% |
| Current Ratio | 8.43+0.8x | 7.62-0.1x | 7.67-0.7x | 8.35+0.7x | 7.61-2.5x | 10.11+2.2x | 7.95+5.2x | 2.71 |
| Debt-to-Equity | 0.130.0x | 0.140.0x | 0.140.0x | 0.13+0.1x | 0.00-0.1x | 0.10-0.1x | 0.15-5.5x | 5.66 |
| FCF Margin | 6.1%+0.9pp | 5.3%-5.4pp | 10.6%+2.4pp | 8.2%+2.0pp | 6.3%+3.0pp | 3.3%-4.9pp | 8.2%+0.1pp | 8.2% |
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Where Grid Dynamics Hldgs Inc Ranks
Frequently Asked Questions
What is Grid Dynamics Hldgs Inc's annual revenue?
Grid Dynamics Hldgs Inc (GDYN) reported $411.8M in total revenue for fiscal year 2025. This represents a 17.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Grid Dynamics Hldgs Inc's revenue growing?
Grid Dynamics Hldgs Inc (GDYN) revenue grew by 17.5% year-over-year, from $350.6M to $411.8M in fiscal year 2025.
Is Grid Dynamics Hldgs Inc profitable?
Yes, Grid Dynamics Hldgs Inc (GDYN) reported a net income of $9.7M in fiscal year 2025, with a net profit margin of 2.4%.
What is Grid Dynamics Hldgs Inc's EBITDA?
Grid Dynamics Hldgs Inc (GDYN) had EBITDA of $17.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Grid Dynamics Hldgs Inc's gross margin?
Grid Dynamics Hldgs Inc (GDYN) had a gross margin of 34.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Grid Dynamics Hldgs Inc's operating margin?
Grid Dynamics Hldgs Inc (GDYN) had an operating margin of -0.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Grid Dynamics Hldgs Inc's net profit margin?
Grid Dynamics Hldgs Inc (GDYN) had a net profit margin of 2.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Grid Dynamics Hldgs Inc's return on equity (ROE)?
Grid Dynamics Hldgs Inc (GDYN) has a return on equity of 1.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Grid Dynamics Hldgs Inc's free cash flow?
Grid Dynamics Hldgs Inc (GDYN) generated $25.3M in free cash flow during fiscal year 2025. This represents a 37.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Grid Dynamics Hldgs Inc's operating cash flow?
Grid Dynamics Hldgs Inc (GDYN) generated $40.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Grid Dynamics Hldgs Inc's total assets?
Grid Dynamics Hldgs Inc (GDYN) had $612.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Grid Dynamics Hldgs Inc's capital expenditures?
Grid Dynamics Hldgs Inc (GDYN) invested $15.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Grid Dynamics Hldgs Inc spend on research and development?
Grid Dynamics Hldgs Inc (GDYN) invested $23.7M in research and development during fiscal year 2025.
What is Grid Dynamics Hldgs Inc's current ratio?
Grid Dynamics Hldgs Inc (GDYN) had a current ratio of 8.43 as of fiscal year 2025, which is generally considered healthy.
What is Grid Dynamics Hldgs Inc's debt-to-equity ratio?
Grid Dynamics Hldgs Inc (GDYN) had a debt-to-equity ratio of 0.13 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Grid Dynamics Hldgs Inc's return on assets (ROA)?
Grid Dynamics Hldgs Inc (GDYN) had a return on assets of 1.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Grid Dynamics Hldgs Inc's Altman Z-Score?
Grid Dynamics Hldgs Inc (GDYN) has an Altman Z-Score of 6.69, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Grid Dynamics Hldgs Inc's Piotroski F-Score?
Grid Dynamics Hldgs Inc (GDYN) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Grid Dynamics Hldgs Inc's earnings high quality?
Grid Dynamics Hldgs Inc (GDYN) has an earnings quality ratio of 4.20x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Grid Dynamics Hldgs Inc?
Grid Dynamics Hldgs Inc (GDYN) scores 62 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.