Grid Dynamics reported record revenue of $71.4 million for Q1 2022, an increase of 82.5% year-over-year. The company experienced growth across most verticals and customers, with non-retail verticals representing 67.4% of revenue.
Total revenue was $71.4 million, an 82.5% year-over-year increase.
GAAP gross profit was $26.8 million, or 37.5% of revenue.
GAAP Net loss attributable to common stockholders was $(2.7) million, or $(0.04) per share.
Cash and cash equivalents totaled $153.3 million as of March 31, 2022.
The Company expects revenue in the second quarter of 2022 to be between $72.0 million and $73.5 million. Non-GAAP EBITDA in the second quarter of 2022 is expected to be between $9.5 million and $11.0 million.
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