Grid Dynamics Holdings, Inc. (GDYN) Earnings
Grid Dynamics Holdings, Inc. is expected to report next earnings on July 30, 2026 (in NaN days), with a consensus EPS estimate of $0.10. GDYN has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise +5.5% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $0.08 | $0.09 | +12.5% | $104M | +0.8% |
| Mar 5, 2026 | $0.09 | $0.10 | +9.4% | $106M | -0.4% |
| Oct 30, 2025 | $0.09 | $0.09 | +0.0% | $104M | -1.7% |
| Jul 31, 2025 | $0.10 | $0.10 | +0.0% | $101M | -4.2% |
| May 1, 2025 | $0.09 | $0.11 | +22.2% | $100M | +2.1% |
| Feb 20, 2025 | $0.10 | $0.12 | +20.0% | $100M | +4.5% |
| Oct 31, 2024 | $0.10 | $0.10 | +0.0% | $87M | -9.0% |
| Aug 1, 2024 | $0.07 | $0.08 | +14.3% | $83M | +2.4% |
| May 2, 2024 | $0.08 | $0.07 | -12.5% | $80M | +2.5% |
| Feb 22, 2024 | $0.08 | $0.07 | -12.5% | $78M | +1.9% |
| Nov 2, 2023 | $0.08 | $0.08 | +0.0% | $77M | +1.0% |
| Aug 3, 2023 | $0.08 | $0.09 | +12.5% | $77M | +0.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 1, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Started 2026 with solid execution. Three trends: meaningful AI revenue growth, vertical mix shift toward tech and financial services, top customers undergoing vendor consolidation. AI practice is core of business. Four pillars of transformation: AI native delivery, productized engineering, AI consulting, internal AI automation. Q1 project highlights include TMT, CPG & Manufacturing, automotive part retailer, and restaurant company engagements. Partnerships are key, partner inference revenues grew to 19.1% of total company revenue, with GAIN platforms deployed on hyperscaler marketplaces and joint sales motions with hyperscalers.
Guidance
Second quarter revenues expected to be in range of $106 million to $108 million. Second quarter non-GAAP EBITDA expected in range of $14 million to $15 million. Full year 2026 revenue outlook maintained at $435 million to $465 million.
Segment performance
First quarter revenue was $104.1 million, higher than guidance range. AI revenue reached 29.3% of total company revenue, growing nearly 60% year-over-year. TMT was the largest vertical, accounting for 29.5% of total revenues with 30.3% year-over-year growth. Retail contributed 28.4%, finance 23.5%, CPG & Manufacturing 9.4%, Other 7.1%, Healthcare and Pharma 2.1%. Non-GAAP EBITDA was $12.5 million or 12% of revenues. GAAP gross profit was $36.2 million or 34.8%, non-GAAP gross profit was $36.7 million or 35.3%.
Risks & headwinds
Exposure to currency fluctuations, impact of macro issues like the war in Iran on consumer-sensitive industries, uncertainty related to how AI deployments convert into measurable profits and gains, and potential risks associated with individual customers due to unforeseen circumstances.
Analyst Q&A
Q: Puneet Jain of JPMorgan asked about the impact of GAIN framework on operations, training of employees, and guidance confidence.
A: Leonard and Anil responded on engineering talent training, shift to non-T&M projects, pipeline demand, and factors driving confidence.
Q: Margaret Nolan of William Blair asked about partner revenue growth and TMT growth durability.
A: Rahul and Leonard discussed partner revenue growth goals, TMT growth being durable due to client consolidation, hyperscaler relationships, and being a preferred vendor.
Q: Surinder Thind of Jefferies asked about risks in non-time and materials model.
A: Eugene and Anil talked about balancing risk and reward in fixed price projects, using AI agents and frameworks to address uncertainty, and margin differences between T&M and non-T&M.
Q: Bryan Bergin of TD Cowen asked about client sentiment and AI productivity.
A: Rahul, Anil, and Eugene discussed client sentiment trends, AI productivity improvements, and no significant pricing pressures.
Q: Mayank Tandon of Needham asked about revenue visibility and M&A.
A: Anil and Leonard talked about revenue visibility based on customer relationships, and M&A priorities focusing on tuck-ins for capabilities, with consideration of valuations and accretiveness