Quarterly ResultApr 30, 2026, 04:20 PM
GDYN Q1 Revenue $104.1M (+3.7%); GAAP Net Loss $1.5M
AI Summary
Grid Dynamics Holdings, Inc. reported Q1 2026 revenues of $104.1 million, a 3.7% increase year-over-year and slightly above its guidance range. The company posted a GAAP net loss of $1.5 million ($0.02 per share), compared to a net income of $2.9 million in Q1 2025, while non-GAAP net income was $7.5 million ($0.09 per diluted share). A key highlight was AI revenues reaching a record 29.3% of total revenues, with strong growth in the TMT vertical. Grid Dynamics provided Q2 2026 revenue guidance of $106.0 million to $108.0 million and full-year 2026 revenue guidance of $435.0 million to $465.0 million.
Key Highlights
- Q1 2026 Revenues: $104.1 million, up 3.7% year-over-year, slightly above guidance.
- Q1 2026 GAAP Net Loss: $1.5 million, or $0.02 per share, compared to $2.9 million net income in Q1 2025.
- Q1 2026 Non-GAAP Net Income: $7.5 million, or $0.09 per diluted share, down from $10.0 million in Q1 2025.
- AI revenues reached a record 29.3% of total revenues in Q1 2026.
- Technology, Media and Telecom (TMT) vertical revenues increased 30.3% year-over-year.
- Q2 2026 Revenue Guidance: $106.0 million to $108.0 million.
- Full-Year 2026 Revenue Guidance: $435.0 million to $465.0 million, representing 5.6% to 12.9% growth.