Grid Dynamics Holdings, Inc.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $2.9M | $-1.5M | $306.0K | $1.2M | $5.3M | $2.9M | $4.5M | $4.3M |
| Depreciation & Amortization | $5.3M | $5.2M | $5.1M | $5.0M | $4.9M | $4.7M | $4.6M | $3.4M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $4.4M | $8.5M | $6.5M | $6.4M | $6.7M | $10.7M | $8.2M | $7.1M |
| Net Cash from Operating Activities | $6.1M | $8.4M | $9.9M | $7.0M | $14.4M | $9.4M | $7.1M | $9.2M |
| Investing Activities | ||||||||
| Capital Expenditures | $3.6M | $4.0M | $3.8M | $4.0M | $4.2M | $3.3M | $2.6M | $3.3M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-17.6M | $-4.0M | $-3.8M | $-4.0M | $-4.0M | $-3.3M | $-10.0M | $-34.5M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $17.3M | $11.5M | — | — | $0 | $0 | — | — |
| Net Cash from Financing Activities | $-17.6M | $-17.6M | $-2.5M | $-631.0K | $-1.0M | $-15.8M | $108.9M | $142.0K |
| Net Change in Cash | $-29.0M | $-14.6M | $3.5M | $1.7M | $10.9M | $-9.2M | $103.9M | $-24.8M |
| Free Cash Flow | $2.5M | $4.4M | $6.1M | $2.9M | $10.2M | $6.0M | $4.4M | $5.9M |