Grid Dynamics Hldgs Inc Stock Price, News & Analysis

Grid Dynamics (Nasdaq:GDYN) will host a video conference call on November 3, 2022, at 4:30 p.m. ET to discuss its third quarter 2022 financial results. A press release with details will precede the call. Investors can access the webcast via the Investor Relations section of the company’s website. A replay will also be available afterward.

Grid Dynamics is a leader in digital transformation services for Fortune 1000 firms, offering consulting and implementation services in areas like big data analytics and cloud migration.

Grid Dynamics has launched a new Modern Application Development practice to strengthen its digital transformation capabilities. This practice focuses on cloud, cybersecurity, and automation, aimed at enhancing enterprise application development.

Chuck Tsocanos has been appointed as Vice President to lead this initiative, bringing extensive experience in cloud and security technology. The new practice integrates zero-trust security into the core development process, enabling clients to achieve digital maturity.

Grid Dynamics has launched a new Kubernetes Migration Starter Kit aimed at assisting enterprises in transitioning from Pivotal Cloud Foundry to Microsoft Azure Kubernetes Service. This innovative kit streamlines cloud migrations, reducing both time and costs by leveraging Grid Dynamics' expertise in microservices and Azure. By utilizing this starter kit, companies can deploy a production-ready microservices platform quickly, enhancing their infrastructure provisioning and accelerating time-to-market for new products.

Grid Dynamics Holdings (NASDAQ:GDYN) has announced a public offering of 5,714,286 shares at $17.50 per share, expected to close on September 12, 2022, pending customary conditions. The underwriters also have a 30-day option to buy an additional 857,142 shares. J.P. Morgan and William Blair are leading the offering, with co-managers Needham and Cantor Fitzgerald. The shares will be registered under a prior effective shelf registration statement. This release includes forward-looking statements regarding the offering's completion.

Grid Dynamics (NASDAQ:GDYN) announced a proposed underwritten public offering of $100 million in common stock, all to be sold by the company. An additional $15 million in shares may be available through a 30-day option for underwriters. The offering is subject to market conditions and is managed by J.P. Morgan Securities LLC and William Blair & Company, L.L.C. The offering will utilize an effective shelf registration statement, with no assurance on completion timing or terms. The company provides digital transformation services to Fortune 1000 companies.

Grid Dynamics announced the opening of a new operational center in Warsaw, Poland, marking its fourth location in the region. This expansion aims to recruit hundreds of engineers by the end of 2023, as demand for digital transformation solutions grows. The company, which now employs over 3,800 people globally, views Poland as a crucial tech hub, enhancing its ability to serve Fortune 1000 clients. CEO Leonard Livschitz emphasized the significance of this move in accessing a diverse talent pool to meet business needs.

Grid Dynamics announced that Knowde selected its experts to develop an advanced semantic search for its B2B digital marketplace, featuring over 160,000 chemical products. Utilizing a composable MACH architecture, Grid Dynamics launched the search platform in under six months, achieving a 30% increase in customer engagement. The new search capabilities include multi-stage concept-oriented search and query expansion with domain-specific knowledge graphs, tailored to meet the unique needs of the chemical industry.

Grid Dynamics reported a record revenue of $77.3 million for Q2 2022, marking a 62.2% increase year-over-year and an 8.3% sequential rise. This marks the eighth consecutive quarter of record revenue. The non-retail verticals contributed 67.1% of revenue, with notable growth in Technology, Media, and Telecom at 30.2% of revenue. Despite the revenue growth, the company faced a GAAP net loss of $(13.2 million), or $(0.20) per share. Looking ahead, revenue guidance for Q3 2022 is forecasted between $78.5 million and $80.0 million.

Grid Dynamics (NASDAQ:GDYN) will host a video conference call to discuss its Q2 2022 financial results on August 4, 2022, at 4:30 p.m. ET. An accompanying press release will precede the call. Investors can access the webcast through the Investor Relations section of their website. A replay will be available with a designated passcode. Grid Dynamics offers digital transformation services for Fortune 1000 companies, focusing on areas like big data analytics and cloud migration, leveraging global engineering talent.