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Sep 30, 2023
Grid Dynamics Q3 2023 Earnings Report
Reported third quarter financial results with revenue of $77.4 million and GAAP net income of $0.7 million.
Key Takeaways
Grid Dynamics reported third quarter revenue of $77.4 million, flat year-over-year. GAAP net income was $0.7 million, or $0.01 per share. The company signed ten new enterprise customers, bringing the total to 28 since the beginning of the year. The company expects its fourth-quarter outlook to be similar to the third quarter outlook provided in August 2023 for both revenue and Non-GAAP EBITDA.
Total revenue was $77.4 million, flat on a year-over-year basis.
GAAP gross profit was $28.2 million, or 36.4% of revenue.
GAAP Net Income attributable to common stockholders was $0.7 million, or $0.01 per share.
Non-GAAP Net income was $5.9 million, or $0.08 per diluted share.
Revenue by Segment
Forward Guidance
The Company expects its fourth-quarter outlook to be similar to the third quarter outlook provided in August 2023 for both revenue and Non-GAAP EBITDA. Revenue in the fourth 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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