Every 10-Q that Grid Dynamics Holdings, Inc. (GDYN) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow GDYN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GDYN filings page.
Grid Dynamics Holdings reported Q2 2026 revenues of $108.2 million, up 7.0% year over year, and first half revenues of $212.3 million, up 5.3%. Growth was led by Technology, Media and Telecom, which grew 36.4% to $34.4 million, while Retail was flat and Finance and Other verticals declined modestly.
Gross profit rose to $39.6 million, with gross margin improving to 36.6% from 34.1% as utilization improved and delivery costs grew slower than revenue. However, Q2 net income declined to $2.9 million and first half net income to $1.4 million, driven by lower other income, higher general and administrative and restructuring costs, and a higher effective tax rate.
Cash and cash equivalents were $298.4 million as of June 30, 2026 with no borrowings under the $30 million revolver. The company acquired Ekumen for $18.4 million to expand robotics and physical AI capabilities and repurchased 4.4 million shares for $28.8 million. Non-GAAP EBITDA was $14.7 million in Q2 and $27.2 million for the first half.
Grid Dynamics Holdings reported first-quarter 2026 revenue of $104.1 million, up 3.7% from a year earlier, driven mainly by stronger demand from large Technology, Media and Telecom clients. The mix shift helped TMT become its largest vertical, contributing 29.5% of revenue.
Higher delivery and operating costs pressured profitability. Gross margin declined to 34.8%, and the company posted a $3.7 million operating loss and a $1.5 million net loss, versus a $2.9 million profit a year earlier, as stock-based compensation and general and administrative spending remained significant.
Cash generation stayed positive: operating cash flow was $8.4 million, and cash and cash equivalents totaled $327.5 million with no debt outstanding. The company repurchased 1.8 million shares for $11.5 million under a $50 million buyback program while continuing to invest in AI-focused capabilities and geographic delivery capacity.
Grid Dynamics (GDYN) reported Q3 2025 results with revenues of $104.2 million, up 19.1% year over year, as Europe and Other regions expanded while North America was roughly flat. Gross margin was 33.3% versus 37.4% a year ago, reflecting higher cost of revenues.
Net income was $1.2 million compared to $4.3 million in the prior-year quarter; the company cited higher cost of revenues and a higher effective tax rate of 62.3% due primarily to non-deductible executive compensation. Non‑GAAP EBITDA was $12.7 million (12.2% of revenue) versus $14.8 million (16.9%).
Year to date, revenue reached $305.7 million (up from $250.3 million) and net income was $9.4 million versus a small loss last year. Cash and cash equivalents were $338.6 million, supported by $30.7 million in operating cash flow for the first nine months. The company extended its $30.0 million revolving credit facility to March 2028 with no borrowings outstanding. A $50.0 million share repurchase program was authorized on October 23, 2025. Customer concentration remained notable, with one customer at 16.4% of Q3 revenue.