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Sep 30, 2020
Grid Dynamics Q3 2020 Earnings Report
Reported revenue of $26.3 million, up 18% sequentially, with a GAAP Net Loss of $(1.1) million and Adjusted EBITDA of $4.2 million.
Key Takeaways
Grid Dynamics announced strong Q3 2020 results with $26.3 million in revenue, representing 18% sequential growth. The company experienced a GAAP Net Loss of $(1.1) million but generated a positive Adjusted EBITDA of $4.2 million.
Revenue reached $26.3 million, marking one of the highest sequential growth rates in the company's history.
Non-retail industry verticals grew 10% sequentially and 47% year-over-year, representing 77% of the third quarter revenue.
The Technology vertical grew 45% year-over-year and represented 48% of the third quarter revenue.
The company saw a strong pickup in customer activity across the board.
Forward Guidance
The company expects revenue in the fourth quarter 2020 to be in the range of $27.7 million to $28.7 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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