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Mar 31, 2020
Grid Dynamics Q1 2020 Earnings Report
Reported solid first quarter financial results with a strong year-over-year growth.
Key Takeaways
Grid Dynamics announced its first quarter 2020 financial results, reporting a revenue of $32.5 million, which represents a 24% increase year-over-year. The company exited the quarter with 37 customers, up from 24 in the same period a year ago.
Reported a 24% year-over-year revenue growth for the first quarter of 2020.
Experienced negative impacts from the COVID-19 pandemic starting in the second half of March.
Exited the quarter with 37 customers, compared to 24 in the same period last year.
Observed varied responses to the pandemic across the customer base, influenced by company and industry-specific dynamics.
Forward Guidance
Due to the heightened uncertainty and diminished visibility caused by the current pandemic, the company withdrew its previously announced guidance for 2020 but provided a revenue outlook for the second quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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