Grid Dynamics Hldgs Inc Stock Price, News & Analysis

Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) reported record revenue of $39.1 million for Q1 2021, marking a 30% sequential increase and a 21% year-over-year rise. Excluding a $6.5 million contribution from the Daxx acquisition, revenue reached $32.6 million, a 12% sequential gain. The non-retail sector provided 77% of total revenue, demonstrating strong growth. GAAP net loss narrowed to $(2.1) million or $(0.04) per share. The company anticipates Q2 revenue between $40.5 million to $42.0 million and expects at least $165.0 million for the full year.

Grid Dynamics (Nasdaq: GDYN) has unveiled a cutting-edge digital banking assistant designed to enhance the mobile banking experience. This solution utilizes AI to transform mobile banking apps into interactive financial advisors, allowing users to engage via voice, chat, or gestures. The technology aims to improve customer retention and competitiveness against fintechs. According to Max Martynov, CTO, this digital assistant allows banks to deliver personalized experiences swiftly, integrating seamlessly with existing systems while addressing the growing demand for user-friendly banking interfaces.

Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) will host a conference call on May 6, 2021, at 4:30 p.m. ET to discuss its Q1 2021 financial results. The call will be accessible via a webcast on the company's website and by phone. A news release with the financial results will precede the call. As a leader in digital transformation, Grid Dynamics serves Fortune 1000 companies, providing services in areas such as big data analytics and cloud migration. Founded in 2006, the company is headquartered in Silicon Valley.

Grid Dynamics (Nasdaq: GDYN) announced its upcoming series of free Data Points Virtual Summits aimed at industry professionals in data science and analytics. The first summit, scheduled for March 25, will focus on data-related challenges in the Media, Entertainment & Technology sectors, featuring speakers from firms like The New York Times and Spotify. Additional summits will cover Healthcare & Finance on June 9 and Manufacturing, Retail & Ecommerce on December 8. This initiative is designed to provide valuable insights into personalization and analytics in dynamic environments.

Grid Dynamics (Nasdaq: GDYN) reported fourth quarter 2020 revenue of $30.1 million, an 11% sequential growth from $29.1 million, surpassing guidance of $27.7 to $28.7 million. However, this marks a 6% decline year-over-year. The company's non-retail segments constituted 74% of revenue, with significant growth in the Technology, Media, and Telecom vertical. Full-year revenue was $111.3 million, a 6% decrease year-over-year. Looking ahead, GDYN projects Q1 2021 revenue between $35 million to $36.5 million, inclusive of Daxx's contribution.

Grid Dynamics (Nasdaq: GDYN) has been recognized by Forrester in its Q1 2021 report on Continuous Automation and Testing Services Providers. This acknowledgment highlights Grid Dynamics’ commitment to improving software testing capabilities to enhance quality, efficiency, and speed during the digital transformation process. With a strong portfolio including DevOps, DataOps, and AI-powered testing, the company claims to achieve a 10x increase in speed to market and reduced infrastructure costs. Max Martynov, CTO, emphasized the need for modern automation to avoid traditional pitfalls that slow down digital transformation.

Grid Dynamics (Nasdaq:GDYN) has launched an Analytical Data Platform in partnership with Amazon Web Services, aimed at accelerating cloud migration for advanced analytics and AI applications. This solution, available on the AWS Marketplace, enables companies to cut down implementation costs and risks. With a microservices architecture, the platform allows for rapid deployment, reducing time to insights to a single day. The CTO stated that it helps businesses achieve AI and ML capabilities with reduced time and cost by up to 10x.

Grid Dynamics (Nasdaq: GDYN) will host a conference call on March 4, 2021, at 4:30 p.m. ET to discuss its financial results for Q4 and the full year 2020. Investors can access the call via the Investor Relations section of the company's website or by dialing in. A replay will be available shortly after the call and will remain accessible until March 18, 2021. Grid Dynamics is a digital-native technology services provider, specializing in digital transformation for Fortune 1000 companies.

Grid Dynamics Holdings (Nasdaq: GDYN) has acquired Daxx, a software development firm based in the Netherlands. This acquisition enhances Grid Dynamics' services by integrating Daxx's two decades of experience in software development and technology consulting. Daxx specializes in agile process reengineering, lean development, and DevOps, serving clients in Europe and the U.S. The move aims to expand Grid Dynamics' presence in Western Europe, leveraging Amsterdam as a strategic hub for growth in the fast-evolving digital transformation sector.