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Jun 30, 2023
Grid Dynamics Q2 2023 Earnings Report
Reported record GAAP net income and flat revenue year-over-year.
Key Takeaways
Grid Dynamics reported Q2 2023 financial results with a revenue of $77.3 million, flat compared to the same quarter last year. The company achieved a GAAP net income of $2.6 million, or $0.03 per share, a significant improvement from the GAAP net loss of $13.2 million, or $(0.20) per share in Q2 2022.
Revenue remained flat year-over-year at $77.3 million.
GAAP net income attributable to common stockholders was $2.6 million, or $0.03 per share.
Non-GAAP net income was $7.0 million, or $0.09 per diluted share.
The company signed several large enterprise customers and completed nine AI projects during the quarter.
Revenue by Segment
Forward Guidance
The company expects its third-quarter outlook to be similar to the second quarter outlook provided in May 2023 for both revenue and Non-GAAP EBITDA. Revenue in the third quarter of 2023 is expected to be between $76 million and $78 million and Non-GAAP EBITDA is expected to be between $10 million and $11 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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