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Grid Dynamics Holdings, Inc. provides enterprise AI transformation, technology consulting, platform and product engineering, advanced analytics, cloud, data engineering, application modernization, and digital engagement services for large enterprises.
Company news centers on quarterly results, AI revenue and partner-influenced revenue, work with hyperscale cloud providers, and client deployments across technology, media and telecom, retail, finance, consumer packaged goods and manufacturing, healthcare and pharma, and other verticals. Updates also cover solutions such as the Merchandising Experience Platform and NVIDIA-based AI applications, as well as strategic collaborations with cloud and AI technology partners.
Grid Dynamics (NASDAQ: GDYN) has launched a Composable Commerce Help Desk Starter Kit, tailored to replace legacy customer support systems with modern, composable architectures. This minimum viable product (MVP) can be deployed within 1-2 months, enhancing customer support capabilities by managing profiles, processing refunds, and addressing various order-related issues. It integrates seamlessly with commercetools and adheres to MACH architecture principles, offering flexibility, better customer interaction, and streamlined support. The starter kit aims to provide a scalable, future-proof solution that meets the sophisticated demands of modern customers while driving operational efficiency and business value.
Grid Dynamics (NASDAQ: GDYN) and ASICS Digital have won the Most Innovative Project at the 2024 Contentstack Experience Awards (CXA). This award acknowledges their collaborative work in overhauling a legacy content setup within a tight five-month timeline. The project involved significant technological advancements, including the design of 13 custom SEO extensions, content propagation across 32 locales, and CTA label localization. The innovative content setup performed flawlessly during Black Friday. The award was announced at ContentCon2024, Contentstack's annual customer conference in Austin, TX.
Grid Dynamics (NASDAQ: GDYN), a leader in technology consulting and AI services, has achieved the Amazon Web Services (AWS) Machine Learning Competency. This indicates their expertise in deploying ML-enabled workloads on AWS, which helps clients optimize operations and improve decision-making. The company offers tailored solutions that foster innovation and enhance customer experiences across various industries, including manufacturing, e-commerce, and insurance. This designation validates Grid Dynamics' ability to deliver cutting-edge data science solutions, maximizing AWS services to solve business problems with AI. Their Machine Learning Platform Starter Kit for AWS helps clients build production-ready, cloud-native ML platforms quickly, reducing operational costs and accelerating time-to-market.
Grid Dynamics Holdings, Inc. reported first quarter 2024 revenue of $79.8 million, exceeding expectations. The Retail and TMT verticals were the largest revenue contributors. The Finance vertical saw significant growth. The company highlighted its track record of success and industry recognition. Financially, GAAP net loss was $3.9 million, and non-GAAP net income was $5.2 million. Cash provided by operating activities decreased, but cash and cash equivalents remained stable. The company expects revenue and non-GAAP EBITDA to increase in the second quarter of 2024.
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