Grid Dynamics (GDYN) Financials

$12.65 -0.05 (-0.39%)

Closing price 04:00 PM Eastern

Extended Trading

$12.52 -0.13 (-1.03%)

As of 04:21 PM Eastern

Annual Income Statements for Grid Dynamics

This table shows Grid Dynamics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Net Income / (Loss) Attributable to Common Shareholders	-0.15	0.36	-30	-7.82	-13	11	9.23
Consolidated Net Income / (Loss)	4.04	-1.77	-29	-7.70	-13	11	9.23
Net Income / (Loss) Continuing Operations	4.04	-1.77	-29	-7.70	-13	11	9.23
Total Pre-Tax Income	11	4.84	-20	-2.45	-15	15	13
Total Operating Income	-2.11	-5.58	-21	0.05	-15	16	14
Total Gross Profit	127	113	121	88	42	48	39
Total Revenue	351	313	310	211	111	118	92
Operating Revenue	351	313	310	211	111	118	92
Total Cost of Revenue	224	200	190	124	70	70	53
Operating Cost of Revenue	224	200	190	124	70	70	53
Total Operating Expenses	129	119	142	88	57	33	25
Selling, General & Admin Expense	82	80	106	65	38	21	18
Marketing Expense	29	24	20	14	10	6.95	5.20
Research & Development Expense	18	15	16	8.46	9.31	4.35	2.64
Total Other Income / (Expense), net	13	10	0.56	-2.50	0.24	-0.18	-0.75
Other Income / (Expense), net	13	10	0.56	-2.50	0.24	-0.18	-0.75
Income Tax Expense	7.01	6.60	8.76	5.25	-2.61	4.64	3.86
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	4.19	-2.12	0.72	0.12	0.00	0.00	-
Basic Earnings per Share	$0.05	($0.02)	($0.42)	($0.13)	($0.28)	$0.49	$0.46
Weighted Average Basic Shares Outstanding	77.47M	75.19M	69.20M	58.66M	44.74M	21.12M	20.22M
Diluted Earnings per Share	$0.05	($0.02)	($0.42)	($0.13)	($0.28)	$0.49	$0.46
Weighted Average Diluted Shares Outstanding	79.97M	75.19M	69.20M	58.66M	44.74M	21.12M	20.22M
Weighted Average Basic & Diluted Shares Outstanding	83.84M	75.97M	74.83M	66.95M	53.80M	22M	-

This table shows Grid Dynamics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	4.66	0.43	4.50	-0.94	-4.13	3.69	0.12	4.03	-7.48	-5.49	-7.53
Consolidated Net Income / (Loss)	2.91	4.52	4.28	-0.82	-3.95	2.90	0.68	2.63	-7.97	-6.70	-6.66
Net Income / (Loss) Continuing Operations	2.91	4.52	4.28	-0.82	-3.95	2.90	0.68	2.63	-7.97	-6.70	-6.66
Total Pre-Tax Income	2.47	5.77	5.60	2.71	-3.02	1.50	3.30	4.34	-4.31	-5.18	-3.30
Total Operating Income	-2.04	1.26	2.14	0.04	-5.54	-1.07	0.14	1.33	-5.99	-5.61	-4.75
Total Gross Profit	37	37	33	30	28	28	28	28	29	32	33
Total Revenue	100	100	87	83	80	78	77	77	80	81	81
Operating Revenue	100	100	87	83	80	78	77	77	80	81	81
Total Cost of Revenue	63	63	55	53	52	50	49	49	52	48	48
Operating Cost of Revenue	63	63	55	53	52	50	49	49	52	48	48
Total Operating Expenses	39	36	31	30	33	29	28	27	35	38	37
Selling, General & Admin Expense	24	23	19	18	22	19	18	18	25	28	28
Marketing Expense	8.26	7.23	6.82	7.29	7.29	6.42	6.13	5.96	5.63	5.38	5.08
Research & Development Expense	6.49	5.40	4.45	4.13	4.37	3.86	3.40	3.27	4.20	4.70	4.14
Total Other Income / (Expense), net	4.51	4.50	3.47	2.67	2.53	2.57	3.16	3.01	1.68	0.43	1.45
Other Income / (Expense), net	4.51	4.50	3.47	2.67	2.53	2.57	3.16	3.01	1.68	0.43	1.45
Income Tax Expense	-0.44	1.24	1.32	3.52	0.93	-1.40	2.63	1.72	3.66	1.52	3.36
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-1.75	4.10	-0.21	0.13	0.18	-0.79	0.56	-1.40	-0.50	-1.22	0.87
Basic Earnings per Share	$0.03	$0.05	$0.06	($0.01)	($0.05)	$0.05	$0.01	$0.03	($0.11)	($0.08)	($0.10)
Weighted Average Basic Shares Outstanding	84.12M	77.47M	76.70M	76.60M	76.15M	75.19M	75.46M	75.15M	74.46M	69.20M	68.62M
Diluted Earnings per Share	$0.03	$0.06	$0.05	($0.01)	($0.05)	$0.05	$0.01	$0.03	($0.11)	($0.08)	($0.10)
Weighted Average Diluted Shares Outstanding	87.79M	79.97M	78.84M	76.60M	76.15M	75.19M	77.34M	76.85M	74.46M	69.20M	68.62M
Weighted Average Basic & Diluted Shares Outstanding	84.55M	83.84M	76.81M	76.67M	76.52M	75.97M	75.59M	75.34M	74.90M	74.83M	74.00M

This table details how cash moves in and out of Grid Dynamics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Net Change in Cash & Equivalents	78	0.50	112	32	71	24	7.51
Net Cash From Operating Activities	30	41	32	18	5.93	13	11
Net Cash From Continuing Operating Activities	34	41	32	18	5.93	13	11
Net Income / (Loss) Continuing Operations	4.04	-1.77	-29	-7.70	-13	11	9.23
Consolidated Net Income / (Loss)	4.04	-1.77	-29	-7.70	-13	11	9.23
Depreciation Expense	14	8.93	6.63	5.05	2.67	2.31	1.31
Amortization Expense	4.51	3.19	3.02	0.00	0.00	-	-
Non-Cash Adjustments To Reconcile Net Income	33	33	61	33	24	1.86	1.76
Changes in Operating Assets and Liabilities, net	-22	-1.83	-9.95	-13	-7.78	-2.44	-1.71
Net Cash From Investing Activities	-51	-26	-16	-35	-18	-2.81	-3.08
Net Cash From Continuing Investing Activities	-55	-26	-16	-35	-18	-2.81	-3.08
Purchase of Property, Plant & Equipment	-12	-7.87	-6.07	-4.72	-2.25	-2.81	-3.08
Acquisitions	-43	-18	-9.25	-31	-16	0.00	0.00
Purchase of Investments	0.00	-0.25	-1.00	0.00	0.00	-	-
Other Investing Activities, net	-0.04	0.00	0.00	-	-	-	-
Net Cash From Financing Activities	101	-16	98	49	83	15	0.00
Net Cash From Continuing Financing Activities	101	-16	98	49	83	15	0.00
Repayment of Debt	0.00	0.00	-5.27	0.00	0.00	-	-
Repurchase of Common Equity	-0.47	0.00	-0.25	-0.50	-126	0.00	0.00
Issuance of Debt	0.00	0.00	5.00	0.00	209	0.00	0.00
Issuance of Common Equity	108	0.00	110	78	0.00	0.00	-
Other Financing Activities, net	-6.44	-16	-11	-29	0.10	17	0.00
Effect of Exchange Rate Changes	-2.13	1.68	-0.72	-0.12	-0.00	0.00	0.00
Cash Income Taxes Paid	11	12	7.47	2.45	2.13	3.20	1.48

This table details how cash moves in and out of Grid Dynamics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-9.17	104	-25	6.61	-7.79	3.51	7.54	-12	1.64	1.54	105
Net Cash From Operating Activities	9.35	7.07	9.21	11	3.24	7.56	11	11	12	12	4.32
Net Cash From Continuing Operating Activities	9.35	11	9.21	11	3.24	7.56	11	11	12	12	4.32
Net Income / (Loss) Continuing Operations	2.91	4.52	4.28	-0.82	-3.95	2.90	0.68	2.63	-7.97	-6.70	-6.66
Consolidated Net Income / (Loss)	2.91	4.52	4.28	-0.82	-3.95	2.90	0.68	2.63	-7.97	-6.70	-6.66
Depreciation Expense	4.72	4.65	3.42	3.24	2.91	2.67	2.48	2.13	1.65	1.72	1.63
Amortization Expense	1.24	1.21	1.19	1.12	1.00	0.90	0.88	0.77	0.65	0.80	0.77
Non-Cash Adjustments To Reconcile Net Income	11	8.27	7.41	8.49	9.22	5.63	8.20	6.36	12	18	18
Changes in Operating Assets and Liabilities, net	-11	-7.55	-7.09	-1.36	-5.95	-4.54	-1.27	-0.99	4.97	-2.27	-9.07
Net Cash From Investing Activities	-3.34	-9.99	-34	-2.91	-3.94	-2.53	-1.84	-20	-1.59	-11	-1.17
Net Cash From Continuing Investing Activities	-3.34	-14	-34	-2.91	-3.94	-2.53	-1.84	-20	-1.59	-11	-1.17
Purchase of Property, Plant & Equipment	-3.34	-2.64	-3.28	-2.65	-3.20	-2.28	-1.84	-2.16	-1.59	-1.69	-1.17
Other Investing Activities, net	0.00	-	0.95	-0.26	-0.74	-	-	-	0.00	-	-
Net Cash From Financing Activities	-16	109	0.14	-0.91	-7.00	-1.85	-1.02	-4.51	-8.94	-0.75	103
Net Cash From Continuing Financing Activities	-16	109	0.14	-0.91	-7.00	-1.85	-1.02	-4.51	-8.94	-0.75	103
Other Financing Activities, net	-16	1.33	0.14	-0.91	-7.00	-1.85	-1.02	-4.51	-8.94	-0.68	-6.39
Effect of Exchange Rate Changes	0.66	-2.12	0.34	-0.25	-0.10	0.34	-0.56	1.40	0.50	1.22	-0.87
Cash Income Taxes Paid	2.80	1.97	2.75	3.74	2.50	2.43	1.79	5.22	2.93	3.41	2.18

This table presents Grid Dynamics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Total Assets	592	435	411	257	167	72	222
Total Current Assets	423	324	323	193	135	66	1.21
Cash & Equivalents	335	257	257	144	113	42	1.01
Accounts Receivable	69	54	54	43	19	19	-
Prepaid Expenses	19	13	8.15	4.50	2.36	2.71	0.19
Plant, Property, & Equipment, net	14	11	8.22	6.17	4.10	4.02	0.00
Total Noncurrent Assets	155	100	80	58	28	1.49	221
Goodwill	83	54	46	36	15	0.00	-
Intangible Assets	48	27	20	19	8.13	0.02	-
Noncurrent Deferred & Refundable Income Taxes	8.77	6.42	5.00	2.73	5.61	1.47	-
Other Noncurrent Operating Assets	15	13	8.92	0.00	-	-	221
Total Liabilities & Shareholders' Equity	592	435	411	257	167	72	222
Total Liabilities	74	52	48	30	15	8.30	8.15
Total Current Liabilities	56	42	39	25	13	8.30	0.45
Accounts Payable	4.07	3.62	3.90	2.05	0.76	0.77	0.22
Accrued Expenses	24	15	8.53	11	0.63	1.19	0.01
Current Employee Benefit Liabilities	22	19	13	11	7.48	5.34	-
Other Current Liabilities	5.42	4.24	2.51	0.00	3.21	0.14	-
Total Noncurrent Liabilities	19	10	9.39	4.32	2.09	0.00	7.70
Noncurrent Deferred & Payable Income Tax Liabilities	8.91	3.27	3.76	4.32	2.09	0.00	-
Other Noncurrent Operating Liabilities	9.91	6.76	5.64	0.00	-	-	7.70
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	518	383	363	227	152	54	5.00
Total Preferred & Common Equity	518	383	363	227	152	54	5.00
Total Common Equity	518	383	363	227	152	54	5.00
Common Stock	533	398	378	212	129	19	4.38
Retained Earnings	-12	-16	-14	15	23	35	0.62
Accumulated Other Comprehensive Income / (Loss)	-2.91	1.27	-0.85	-0.13	-0.00	0.00	-

This table presents Grid Dynamics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	591	477	444	435	436	431	420	390
Total Current Assets	422	323	330	323	326	321	330	319
Cash & Equivalents	326	231	256	249	254	246	258	255
Accounts Receivable	82	70	56	59	54	57	57	54
Prepaid Expenses	14	11	10	8.77	8.27	9.19	8.32	7.57
Plant, Property, & Equipment, net	15	14	13	13	10	10	8.84	7.50
Total Noncurrent Assets	154	140	100	100	99	100	81	63
Goodwill	84	74	54	54	55	55	46	36
Intangible Assets	47	42	25	26	28	29	20	17
Noncurrent Deferred & Refundable Income Taxes	9.09	7.52	7.49	7.22	4.88	3.73	5.82	3.33
Other Noncurrent Operating Assets	15	16	14	14	12	13	9.64	6.75
Total Liabilities & Shareholders' Equity	591	477	444	435	436	431	420	390
Total Liabilities	74	77	55	52	63	65	60	39
Total Current Liabilities	58	54	46	43	52	53	50	32
Accounts Payable	4.67	3.72	2.79	2.94	3.72	5.30	3.21	4.48
Accrued Expenses	21	9.16	5.84	5.89	7.25	8.97	11	1.78
Current Employee Benefit Liabilities	27	23	21	20	21	21	19	14
Other Current Liabilities	5.31	5.18	4.44	4.49	4.21	4.15	3.18	4.05
Total Noncurrent Liabilities	15	23	8.91	9.33	10	11	9.34	7.67
Noncurrent Deferred & Payable Income Tax Liabilities	9.06	7.62	3.17	3.16	3.42	3.52	3.65	3.90
Other Noncurrent Operating Liabilities	6.27	15	5.74	6.17	6.93	7.68	5.69	3.78
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	517	400	388	383	373	367	360	351
Total Preferred & Common Equity	517	400	388	383	373	367	360	351
Total Common Equity	517	400	388	383	373	367	360	351
Common Stock	527	415	408	402	391	385	382	360
Retained Earnings	-8.93	-16	-21	-20	-19	-19	-22	-7.42
Accumulated Other Comprehensive Income / (Loss)	-1.16	1.18	0.97	1.10	0.49	1.05	-0.35	-2.06

This table displays calculated financial ratios and metrics derived from Grid Dynamics' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	12.04%	0.78%	46.95%	89.86%	-5.95%	28.80%	0.00%
EBITDA Growth	75.70%	256.91%	-516.10%	120.71%	-170.61%	23.38%	0.00%
EBIT Growth	128.50%	123.65%	-734.14%	83.88%	-198.47%	18.08%	0.00%
NOPAT Growth	-137.80%	113.84%	-42,116.00%	100.32%	-198.93%	12.06%	0.00%
Net Income Growth	328.95%	93.96%	-279.40%	38.88%	-216.58%	17.11%	0.00%
EPS Growth	350.00%	95.24%	-223.08%	53.57%	-157.14%	6.52%	0.00%
Operating Cash Flow Growth	-26.51%	29.83%	76.11%	202.98%	-52.67%	18.42%	0.00%
Free Cash Flow Firm Growth	-236.21%	54.79%	12.23%	-51.90%	-114.16%	0.00%	0.00%
Invested Capital Growth	45.75%	18.21%	28.58%	112.13%	85.24%	-90.13%	0.00%
Revenue Q/Q Growth	6.76%	-0.79%	4.74%	20.82%	-1.66%	0.00%	0.00%
EBITDA Q/Q Growth	28.18%	83.80%	-12.20%	132.29%	-160.92%	0.00%	0.00%
EBIT Q/Q Growth	62.72%	361.94%	-11.86%	22.84%	-107.47%	0.00%	0.00%
NOPAT Q/Q Growth	51.23%	128.72%	-24.15%	102.53%	-99.41%	0.00%	0.00%
Net Income Q/Q Growth	67.05%	84.48%	-11.85%	12.64%	-118.28%	0.00%	0.00%
EPS Q/Q Growth	25.00%	86.67%	-7.69%	7.14%	-115.38%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-1.59%	-9.78%	37.88%	2.18%	25.78%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	-13.46%	43.46%	-22.76%	19.39%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	8.40%	5.43%	11.15%	8.42%	66.02%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	36.23%	36.16%	38.84%	41.52%	37.40%	40.77%	42.79%
EBITDA Margin	8.50%	5.42%	-3.48%	1.23%	-11.27%	15.01%	15.67%
Operating Margin	-0.60%	-1.78%	-6.77%	0.02%	-13.88%	13.21%	15.05%
EBIT Margin	3.15%	1.55%	-6.59%	-1.16%	-13.67%	13.06%	14.24%
Profit (Net Income) Margin	1.15%	-0.56%	-9.41%	-3.64%	-11.32%	9.13%	10.05%
Tax Burden Percent	36.55%	-36.48%	142.83%	314.03%	82.82%	69.95%	70.53%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	63.45%	136.48%	0.00%	0.00%	0.00%	30.05%	29.47%
Return on Invested Capital (ROIC)	-0.50%	1.75%	-15.56%	0.06%	-36.03%	9.33%	4.58%
ROIC Less NNEP Spread (ROIC-NNEP)	-2.12%	3.23%	-8.33%	6.07%	-33.73%	9.90%	56.61%
Return on Net Nonoperating Assets (RNNOA)	1.40%	-2.23%	5.66%	-4.12%	24.31%	-1.54%	-0.27%
Return on Equity (ROE)	0.90%	-0.47%	-9.90%	-4.07%	-11.72%	7.79%	4.31%
Cash Return on Invested Capital (CROIC)	-37.73%	-14.94%	-40.56%	-71.79%	-95.80%	173.40%	0.00%
Operating Return on Assets (OROA)	2.15%	1.14%	-6.12%	-1.16%	-12.75%	10.51%	5.88%
Return on Assets (ROA)	0.79%	-0.42%	-8.75%	-3.63%	-10.56%	7.35%	4.15%
Return on Common Equity (ROCE)	0.90%	-0.47%	-9.90%	-4.07%	-11.22%	1.66%	0.10%
Return on Equity Simple (ROE_SIMPLE)	0.78%	-0.46%	-8.05%	-3.39%	-8.30%	20.00%	184.56%
Net Operating Profit after Tax (NOPAT)	-0.77	2.04	-15	0.04	-11	11	9.75
NOPAT Margin	-0.22%	0.65%	-4.74%	0.02%	-9.72%	9.24%	10.62%
Net Nonoperating Expense Percent (NNEP)	1.63%	-1.48%	-7.23%	-6.02%	-2.30%	-0.57%	-52.03%
Return On Investment Capital (ROIC_SIMPLE)	-0.15%	0.53%	-4.05%	-	-	-	-
Cost of Revenue to Revenue	63.77%	63.84%	61.16%	58.48%	62.60%	59.23%	57.21%
SG&A Expenses to Revenue	23.43%	25.51%	34.15%	30.65%	33.88%	18.02%	19.20%
R&D to Revenue	5.23%	4.71%	5.08%	4.00%	8.37%	3.67%	2.88%
Operating Expenses to Revenue	36.83%	37.94%	45.61%	41.50%	51.28%	27.56%	27.73%
Earnings before Interest and Taxes (EBIT)	11	4.84	-20	-2.45	-15	15	13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	30	17	-11	2.60	-13	18	14
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.30	2.63	2.29	10.91	4.22	5.65	54.48
Price to Tangible Book Value (P/TBV)	4.42	3.33	2.79	14.41	4.97	5.65	54.48
Price to Revenue (P/Rev)	4.87	3.22	2.67	11.73	5.76	2.58	2.97
Price to Earnings (P/E)	0.00	2,822.45	0.00	0.00	0.00	28.25	29.52
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.04%	0.00%	0.00%	0.00%	3.54%	3.39%
Enterprise Value to Invested Capital (EV/IC)	7.50	5.97	5.39	28.22	13.55	12.94	2.25
Enterprise Value to Revenue (EV/Rev)	3.92	2.40	1.85	11.04	4.75	2.30	5.23
Enterprise Value to EBITDA (EV/EBITDA)	46.11	44.26	0.00	898.44	0.00	15.33	33.39
Enterprise Value to EBIT (EV/EBIT)	124.25	155.10	0.00	0.00	0.00	17.63	36.73
Enterprise Value to NOPAT (EV/NOPAT)	0.00	368.61	0.00	66,664.30	0.00	24.91	49.27
Enterprise Value to Operating Cash Flow (EV/OCF)	45.49	18.26	18.12	129.82	89.02	21.73	45.41
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	1.34	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.66	-0.69	-0.68	-0.68	-0.72	-0.16	0.00
Leverage Ratio	1.14	1.13	1.13	1.12	1.11	1.06	1.04
Compound Leverage Factor	1.14	1.13	1.13	1.12	1.11	1.06	1.04
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	14.53%	97.67%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	85.47%	2.33%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	15.15	13.05	11.73	51.76	26.38	26.10	20.68
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	4.27%	78.72%	97.67%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	7.62	7.67	8.35	7.61	10.11	7.95	2.71
Quick Ratio	7.27	7.36	8.03	7.41	9.87	7.36	2.27
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-58	-17	-38	-44	-29	203	0.00
Operating Cash Flow to CapEx	256.65%	522.15%	521.54%	381.11%	263.41%	445.89%	343.75%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.68	0.74	0.93	1.00	0.93	0.81	0.41
Accounts Receivable Turnover	5.70	5.82	6.38	6.82	5.92	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	27.63	31.97	43.17	41.17	27.41	0.00	0.00
Accounts Payable Turnover	58.14	53.14	63.83	87.94	91.36	142.39	242.77
Days Sales Outstanding (DSO)	63.99	62.70	57.17	53.56	61.69	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	6.28	6.87	5.72	4.15	4.00	2.56	1.50
Cash Conversion Cycle (CCC)	57.72	55.83	51.45	49.41	57.70	-2.56	-1.50
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	183	126	106	83	39	21	213
Invested Capital Turnover	2.27	2.70	3.29	3.47	3.71	1.01	0.43
Increase / (Decrease) in Invested Capital	57	19	24	44	18	-192	0.00
Enterprise Value (EV)	1,374	750	574	2,333	528	272	481
Market Capitalization	1,708	1,008	830	2,478	641	305	272
Book Value per Share	$6.74	$5.07	$4.91	$3.48	$2.98	$1.92	$0.18
Tangible Book Value per Share	$5.03	$4.00	$4.02	$2.64	$2.53	$1.92	$0.18
Total Capital	518	383	363	227	152	63	214
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-335	-257	-257	-144	-113	-42	-1.01
Capital Expenditures (CapEx)	12	7.87	6.07	4.72	2.25	2.81	3.08
Debt-free, Cash-free Net Working Capital (DFCFNWC)	33	25	28	23	8.55	16	-0.25
Debt-free Net Working Capital (DFNWC)	368	282	284	167	121	58	0.76
Net Working Capital (NWC)	368	282	284	167	121	58	0.76
Net Nonoperating Expense (NNE)	-4.81	3.80	15	7.74	1.79	0.12	0.53
Net Nonoperating Obligations (NNO)	-335	-257	-257	-144	-113	-42	-1.01
Total Depreciation and Amortization (D&A)	19	12	9.65	5.05	2.67	2.31	1.31
Debt-free, Cash-free Net Working Capital to Revenue	9.44%	7.84%	8.92%	10.91%	7.69%	13.12%	-0.27%
Debt-free Net Working Capital to Revenue	104.90%	90.04%	91.60%	79.24%	109.00%	48.78%	0.83%
Net Working Capital to Revenue	104.90%	90.04%	91.60%	79.24%	109.00%	48.78%	0.83%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.05	($0.02)	($0.42)	($0.13)	($0.28)	$0.14	$0.00
Adjusted Weighted Average Basic Shares Outstanding	77.47M	75.19M	69.20M	58.66M	44.74M	28.14M	0.00
Adjusted Diluted Earnings per Share	$0.05	($0.02)	($0.42)	($0.13)	($0.28)	$0.14	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	79.97M	75.19M	69.20M	58.66M	44.74M	28.14M	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.14	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	83.84M	75.97M	74.83M	66.95M	53.80M	22M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	-1.47	-3.91	-15	0.04	-11	11	9.75
Normalized NOPAT Margin	-0.42%	-1.25%	-4.74%	0.02%	-9.72%	9.24%	10.62%
Pre Tax Income Margin	3.15%	1.55%	-6.59%	-1.16%	-13.67%	13.06%	14.24%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	18.51%	0.00%
Augmented Payout Ratio	11.68%	0.00%	-0.87%	-6.47%	-1,001.10%	18.51%	0.00%

This table displays calculated financial ratios and metrics derived from Grid Dynamics' official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	25.81%	28.45%	12.94%	7.36%	-0.33%	-3.11%	-4.61%	0.01%	12.14%	21.10%	40.09%
EBITDA Growth	841.23%	129.14%	53.46%	-2.51%	144.42%	290.75%	834.66%	180.76%	-216.61%	-79.18%	-125.86%
EBIT Growth	181.84%	283.31%	69.65%	-37.70%	30.00%	129.03%	200.06%	137.84%	-767.20%	-71.95%	-258.35%
NOPAT Growth	38.07%	148.15%	5,476.98%	-101.50%	7.51%	47.69%	100.88%	110.63%	-3,051.72%	-267.76%	-540.69%
Net Income Growth	173.76%	55.89%	533.43%	-131.10%	50.46%	143.30%	110.15%	119.92%	-198.84%	-85.86%	-1,112.93%
EPS Growth	160.00%	20.00%	400.00%	-133.33%	54.55%	162.50%	110.00%	115.00%	-175.00%	-60.00%	-900.00%
Operating Cash Flow Growth	188.61%	-6.46%	-15.92%	-2.09%	-72.25%	-37.10%	153.83%	87.86%	22.66%	262.06%	-46.07%
Free Cash Flow Firm Growth	-70.25%	-163.79%	-104.58%	67.19%	-55.64%	22.27%	-3.64%	-137.15%	45.61%	38.46%	57.41%
Invested Capital Growth	43.82%	45.75%	41.75%	9.99%	31.38%	18.21%	24.63%	45.21%	22.68%	28.58%	25.41%
Revenue Q/Q Growth	0.13%	14.69%	5.30%	4.03%	2.24%	0.84%	0.10%	-3.42%	-0.62%	-0.72%	4.95%
EBITDA Q/Q Growth	-27.52%	13.79%	44.65%	688.94%	-82.35%	-23.80%	-8.10%	459.45%	24.22%	-193.49%	89.90%
EBIT Q/Q Growth	-57.17%	2.91%	107.10%	189.66%	-300.60%	-54.45%	-23.95%	200.74%	16.81%	-57.00%	71.24%
NOPAT Q/Q Growth	-342.79%	-39.39%	13,614.22%	99.69%	-88.78%	-7,119.29%	-96.37%	119.24%	-6.77%	-18.15%	56.22%
Net Income Q/Q Growth	-35.63%	5.65%	624.11%	79.31%	-236.04%	329.29%	-74.27%	132.96%	-18.92%	-0.65%	49.50%
EPS Q/Q Growth	-50.00%	20.00%	600.00%	80.00%	-200.00%	400.00%	-66.67%	127.27%	-37.50%	20.00%	50.00%
Operating Cash Flow Q/Q Growth	32.30%	-23.28%	-13.71%	229.54%	-57.12%	-31.05%	0.49%	-6.59%	-2.82%	178.27%	-25.63%
Free Cash Flow Firm Q/Q Growth	-7.68%	-17.37%	-300.08%	66.33%	-66.84%	8.97%	35.83%	-59.71%	16.67%	-21.36%	-46.84%
Invested Capital Q/Q Growth	4.72%	8.40%	27.63%	-0.73%	6.12%	5.43%	-0.98%	18.59%	-4.51%	11.15%	15.37%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.84%	36.94%	37.43%	35.60%	34.66%	36.01%	36.36%	36.60%	35.68%	40.06%	40.25%
EBITDA Margin	8.39%	11.59%	11.68%	8.50%	1.12%	6.50%	8.60%	9.36%	-2.52%	-3.30%	-1.12%
Operating Margin	-2.03%	1.26%	2.44%	0.05%	-6.94%	-1.36%	0.18%	1.72%	-7.48%	-6.96%	-5.85%
EBIT Margin	2.46%	5.75%	6.41%	3.26%	-3.78%	1.93%	4.27%	5.61%	-5.38%	-6.43%	-4.07%
Profit (Net Income) Margin	2.90%	4.51%	4.90%	-0.98%	-4.95%	3.72%	0.87%	3.40%	-9.95%	-8.32%	-8.20%
Tax Burden Percent	117.94%	78.47%	76.44%	-30.20%	130.86%	192.95%	20.47%	60.50%	184.92%	129.36%	201.79%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	-17.94%	21.53%	23.56%	130.20%	0.00%	-92.95%	79.53%	39.50%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-5.46%	2.24%	4.26%	-0.04%	-12.94%	-7.10%	0.11%	3.28%	-18.14%	-16.02%	-14.13%
ROIC Less NNEP Spread (ROIC-NNEP)	-7.31%	1.05%	3.16%	0.28%	-12.91%	-9.03%	-0.14%	2.36%	-16.29%	-14.64%	-12.66%
Return on Net Nonoperating Assets (RNNOA)	4.67%	-0.69%	-1.98%	-0.19%	8.83%	6.22%	0.10%	-1.56%	11.21%	9.95%	9.19%
Return on Equity (ROE)	-0.79%	1.55%	2.27%	-0.23%	-4.11%	-0.88%	0.21%	1.72%	-6.93%	-6.07%	-4.94%
Cash Return on Invested Capital (CROIC)	-35.37%	-37.73%	-35.64%	-8.17%	-28.73%	-14.94%	-28.53%	-47.22%	-41.04%	-40.56%	-36.33%
Operating Return on Assets (OROA)	1.78%	3.92%	4.61%	2.37%	-2.76%	1.42%	3.26%	5.05%	-4.94%	-5.98%	-3.47%
Return on Assets (ROA)	2.10%	3.08%	3.52%	-0.72%	-3.62%	2.75%	0.67%	3.06%	-9.14%	-7.73%	-7.00%
Return on Common Equity (ROCE)	-0.79%	1.55%	2.27%	-0.23%	-4.11%	-0.88%	0.21%	1.72%	-6.93%	-6.07%	-4.94%
Return on Equity Simple (ROE_SIMPLE)	2.11%	0.00%	0.60%	-0.31%	0.59%	0.00%	-3.05%	-5.10%	-9.59%	0.00%	-7.44%
Net Operating Profit after Tax (NOPAT)	-2.40	0.99	1.63	-0.01	-3.88	-2.05	0.03	0.81	-4.19	-3.93	-3.33
NOPAT Margin	-2.39%	0.99%	1.87%	-0.01%	-4.86%	-2.63%	0.04%	1.04%	-5.24%	-4.88%	-4.10%
Net Nonoperating Expense Percent (NNEP)	1.85%	1.19%	1.09%	-0.32%	-0.03%	1.93%	0.25%	0.92%	-1.86%	-1.38%	-1.47%
Return On Investment Capital (ROIC_SIMPLE)	-0.46%	0.19%	-	-	-	-0.54%	-	-	-	-1.08%	-
Cost of Revenue to Revenue	63.16%	63.06%	62.57%	64.40%	65.34%	63.99%	63.64%	63.40%	64.32%	59.94%	59.75%
SG&A Expenses to Revenue	24.19%	23.09%	22.11%	21.81%	26.99%	24.20%	23.86%	22.93%	30.88%	34.52%	34.74%
R&D to Revenue	6.46%	5.39%	5.08%	4.97%	5.48%	4.95%	4.39%	4.23%	5.25%	5.83%	5.10%
Operating Expenses to Revenue	38.87%	35.69%	34.99%	35.55%	41.60%	37.38%	36.18%	34.87%	43.17%	47.03%	46.11%
Earnings before Interest and Taxes (EBIT)	2.47	5.77	5.60	2.71	-3.02	1.50	3.30	4.34	-4.31	-5.18	-3.30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	8.42	12	10	7.06	0.90	5.07	6.66	7.24	-2.02	-2.66	-0.91
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.54	3.30	2.68	2.07	2.44	2.63	2.46	1.89	2.38	2.29	3.58
Price to Tangible Book Value (P/TBV)	3.39	4.42	3.78	2.59	3.08	3.33	3.16	2.45	2.91	2.79	4.22
Price to Revenue (P/Rev)	3.54	4.87	3.27	2.53	2.99	3.22	2.91	2.17	2.69	2.67	4.24
Price to Earnings (P/E)	151.81	0.00	344.79	0.00	251.95	2,822.45	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.66%	0.00%	0.29%	0.00%	0.40%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	5.14	7.50	4.98	4.14	5.13	5.97	5.57	3.71	5.90	5.39	10.46
Enterprise Value to Revenue (EV/Rev)	2.66	3.92	2.56	1.72	2.19	2.40	2.10	1.40	1.88	1.85	3.38
Enterprise Value to EBITDA (EV/EBITDA)	26.43	46.11	36.23	27.85	34.44	44.26	71.97	268.56	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	59.64	124.25	123.94	121.98	111.61	155.10	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	1,069.24	0.00	0.00	323.08	0.00	368.61	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	27.17	45.49	27.44	16.90	20.95	18.26	14.57	11.48	17.72	18.12	43.60
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.64	-0.66	-0.63	-0.67	-0.68	-0.69	-0.70	-0.66	-0.69	-0.68	-0.73
Leverage Ratio	1.14	1.14	1.18	1.16	1.15	1.13	1.14	1.18	1.18	1.13	1.11
Compound Leverage Factor	1.14	1.14	1.18	1.16	1.15	1.13	1.14	1.18	1.18	1.13	1.11
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	12.06	15.12	9.72	10.19	12.08	13.03	10.21	7.88	10.07	11.85	20.76
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	7.25	7.62	5.96	7.14	7.48	7.67	6.21	6.01	6.55	8.35	10.09
Quick Ratio	7.00	7.27	5.56	6.74	7.15	7.36	5.87	5.67	6.27	8.03	9.79
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-61	-57	-48	-12	-36	-21	-24	-37	-23	-28	-23
Operating Cash Flow to CapEx	280.05%	267.73%	281.06%	402.75%	101.35%	331.84%	595.54%	503.93%	734.68%	711.67%	369.61%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.72	0.68	0.72	0.73	0.73	0.74	0.76	0.90	0.92	0.93	0.85
Accounts Receivable Turnover	5.29	5.70	5.28	5.65	5.38	5.82	5.80	6.04	6.13	6.38	6.58
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	27.06	27.63	26.91	27.54	29.23	31.97	35.15	36.75	40.67	43.17	45.96
Accounts Payable Turnover	61.76	58.14	56.54	50.65	65.27	53.14	48.32	45.38	72.63	63.83	57.86
Days Sales Outstanding (DSO)	69.02	63.99	69.14	64.56	67.80	62.70	62.96	60.41	59.57	57.17	55.48
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	5.91	6.28	6.46	7.21	5.59	6.87	7.55	8.04	5.03	5.72	6.31
Cash Conversion Cycle (CCC)	63.11	57.72	62.68	57.36	62.21	55.83	55.40	52.37	54.54	51.45	49.17
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	192	183	169	132	133	126	119	120	102	106	96
Invested Capital Turnover	2.28	2.27	2.28	2.52	2.66	2.70	2.94	3.14	3.46	3.29	3.45
Increase / (Decrease) in Invested Capital	58	57	50	12	32	19	24	37	19	24	19
Enterprise Value (EV)	987	1,374	842	548	684	750	664	447	599	574	1,001
Market Capitalization	1,312	1,708	1,073	804	934	1,008	918	693	858	830	1,256
Book Value per Share	$6.17	$6.74	$5.22	$5.08	$5.04	$5.07	$4.95	$4.89	$4.81	$4.91	$5.11
Tangible Book Value per Share	$4.61	$5.03	$3.70	$4.05	$3.99	$4.00	$3.86	$3.78	$3.94	$4.02	$4.34
Total Capital	517	518	400	388	383	383	373	367	360	363	351
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-326	-335	-231	-256	-249	-257	-254	-246	-258	-257	-255
Capital Expenditures (CapEx)	3.34	2.64	3.28	2.65	3.20	2.28	1.84	2.16	1.59	1.69	1.17
Debt-free, Cash-free Net Working Capital (DFCFNWC)	38	33	38	28	30	25	20	22	21	28	33
Debt-free Net Working Capital (DFNWC)	363	368	269	284	279	282	274	268	280	284	288
Net Working Capital (NWC)	363	368	269	284	279	282	274	268	280	284	288
Net Nonoperating Expense (NNE)	-5.31	-3.53	-2.65	0.80	0.07	-4.96	-0.65	-1.82	3.78	2.77	3.33
Net Nonoperating Obligations (NNO)	-326	-335	-231	-256	-249	-257	-254	-246	-258	-257	-255
Total Depreciation and Amortization (D&A)	5.96	5.86	4.61	4.36	3.91	3.57	3.35	2.90	2.30	2.52	2.39
Debt-free, Cash-free Net Working Capital to Revenue	10.22%	9.44%	11.42%	8.83%	9.58%	7.84%	6.30%	6.84%	6.69%	8.92%	10.98%
Debt-free Net Working Capital to Revenue	97.93%	104.90%	81.85%	89.26%	89.36%	90.04%	86.74%	83.97%	87.65%	91.60%	97.06%
Net Working Capital to Revenue	97.93%	104.90%	81.85%	89.26%	89.36%	90.04%	86.74%	83.97%	87.65%	91.60%	97.06%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.03	$0.05	$0.06	($0.01)	($0.05)	$0.05	$0.01	$0.03	($0.11)	($0.08)	($0.10)
Adjusted Weighted Average Basic Shares Outstanding	84.12M	77.47M	76.70M	76.60M	76.15M	75.19M	75.46M	75.15M	74.46M	69.20M	68.62M
Adjusted Diluted Earnings per Share	$0.03	$0.06	$0.05	($0.01)	($0.05)	$0.05	$0.01	$0.03	($0.11)	($0.08)	($0.10)
Adjusted Weighted Average Diluted Shares Outstanding	87.79M	79.97M	78.84M	76.60M	76.15M	75.19M	77.34M	76.85M	74.46M	69.20M	68.62M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	84.55M	83.84M	76.81M	76.67M	76.52M	75.97M	75.59M	75.34M	74.90M	74.83M	74.00M
Normalized Net Operating Profit after Tax (NOPAT)	-1.43	0.99	1.63	0.03	-3.88	-0.75	0.10	0.81	-4.19	-3.93	-3.33
Normalized NOPAT Margin	-1.42%	0.99%	1.87%	0.03%	-4.86%	-0.95%	0.13%	1.04%	-5.24%	-4.88%	-4.10%
Pre Tax Income Margin	2.46%	5.75%	6.41%	3.26%	-3.78%	1.93%	4.27%	5.61%	-5.38%	-6.43%	-4.07%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	11.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.87%	-0.97%

Frequently Asked Questions About Grid Dynamics' Financials

When does Grid Dynamics's fiscal year end?

According to the most recent income statement we have on file, Grid Dynamics' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Grid Dynamics' net income changed over the last 6 years?

Grid Dynamics' net income appears to be on an upward trend, with a most recent value of $4.04 million in 2024, falling from $9.23 million in 2018. The previous period was -$1.77 million in 2023. View Grid Dynamics' forecast to see where analysts expect Grid Dynamics to go next.

What is Grid Dynamics's operating income?

Grid Dynamics's total operating income in 2024 was -$2.11 million, based on the following breakdown:

Total Gross Profit: $127.01 million
Total Operating Expenses: $129.11 million

How has Grid Dynamics revenue changed over the last 6 years?

Over the last 6 years, Grid Dynamics' total revenue changed from $91.87 million in 2018 to $350.57 million in 2024, a change of 281.6%.

How much debt does Grid Dynamics have?

Grid Dynamics' total liabilities were at $74.36 million at the end of 2024, a 42.3% increase from 2023, and a 813.0% increase since 2018.

How much cash does Grid Dynamics have?

In the past 6 years, Grid Dynamics' cash and equivalents has ranged from $1.01 million in 2018 to $334.66 million in 2024, and is currently $334.66 million as of their latest financial filing in 2024.

How has Grid Dynamics' book value per share changed over the last 6 years?

Over the last 6 years, Grid Dynamics' book value per share changed from 0.18 in 2018 to 6.74 in 2024, a change of 3,693.8%.

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This page (NASDAQ:GDYN) was last updated on 5/30/2025 by MarketBeat.com Staff

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Grid Dynamics (GDYN) Financials

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Grid Dynamics (GDYN) Financials

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