- Grid Dynamics Holdings, Inc. (GDYN, Financial) reported record revenue of $100.4 million for Q1 2025, surpassing their guidance range.
- Finance sector revenue exhibited strong growth, rising by 144.3% year-over-year.
- Non-GAAP net income increased to $10.0 million, or $0.11 per diluted share, compared to $7.6 million, or $0.10 per diluted share, in Q1 2024.
Grid Dynamics Holdings, Inc. (GDYN), a leader in digital transformation, announced a record revenue of $100.4 million for the first quarter of 2025. This achievement exceeded their guidance range of $98.0 million to $100.0 million, marking a 25.8% increase compared to the first quarter of 2024. The retail vertical remains the largest revenue contributor, accounting for 31.4% of total revenues. Meanwhile, the finance sector showed remarkable growth, with a 144.3% year-over-year increase, becoming the second-largest segment with 24.9% of total revenues.
The company's GAAP net income was reported at $2.9 million, or $0.03 per share, a significant turnaround from a net loss of $3.9 million in the previous year. On a non-GAAP basis, net income reached $10.0 million, translating to $0.11 per diluted share, up from $7.6 million and $0.10 per diluted share in Q1 2024. Non-GAAP EBITDA also rose to $14.6 million from $10.3 million a year earlier.
Grid Dynamics expects second-quarter revenue to range between $100 million and $102 million, and for the full year 2025, they project revenues between $415 million and $435 million. CEO Leonard Livschitz emphasized the company's focus on expanding its AI projects and strengthening partnerships, ensuring continued success despite economic uncertainties.
