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Sep 30, 2024
Grid Dynamics Q3 2024 Earnings Report
Reported record revenues of $87.4 million and GAAP net income of $4.3 million.
Key Takeaways
Grid Dynamics reported record revenues of $87.4 million for Q3 2024, exceeding their outlook range. The company's GAAP net income was $4.3 million, and they saw growth in their Finance vertical, driven by finance technology and insurance customers. They also acquired JUXT and Mobile Computing to enhance their expertise and capabilities.
Total revenues were $87.4 million, an increase of 5.3% sequentially and 12.9% year-over-year.
GAAP gross profit was $32.7 million, or 37.4% of revenues, compared to $28.2 million, or 36.4% of revenues, in Q3 2023.
GAAP net income attributable to common stockholders was $4.3 million, or $0.05 per share, compared to $0.7 million, or $0.01 per share, in Q3 2023.
Cash and cash equivalents totaled $231.3 million as of September 30, 2024.
Revenue by Segment
Forward Guidance
The Company expects revenue in the fourth quarter of 2024 to be in the range of $95.0 million to $97.0 million and Non-GAAP EBITDA in the fourth quarter of 2024 is expected to be between $13.5 million and $15.5 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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