Grid Dynamics Holdings, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $411.8M | $350.6M | $312.9M | $310.5M | $211.3M | $111.3M | $118.3M | $91.9M |
| Cost of Revenue | $269.5M | $223.6M | $199.8M | $189.9M | $123.6M | $69.7M | $70.1M | $52.6M |
| Gross Profit | $142.3M | $127.0M | $113.1M | $120.6M | $87.7M | $41.6M | $48.2M | $39.3M |
| Gross Margin | 34.6% | 36.2% | 36.2% | 38.8% | 41.5% | 37.4% | 40.8% | 42.8% |
| Operating Expenses | ||||||||
| Research & Development | $23.7M | $18.3M | $14.7M | $15.8M | $8.5M | $9.3M | $4.3M | $2.6M |
| SG&A Expense | $90.5M | $82.1M | $79.8M | $106.0M | $64.8M | $37.7M | $21.3M | $17.6M |
| Operating Income | $-1.9M | $-2.1M | $-5.6M | $-21.0M | $50.0K | $-15.4M | $15.6M | $13.8M |
| Operating Margin | -0.5% | -0.6% | -1.8% | -6.8% | 0.0% | -13.9% | 13.2% | 15.1% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $15.7M | $11.1M | $4.8M | $-20.5M | $-2.5M | $-15.2M | $15.4M | $13.1M |
| Income Tax Expense | $6.0M | $7.0M | $6.6M | $8.8M | $5.2M | $-2.6M | $4.6M | $3.9M |
| Net Income | $9.7M | $4.0M | $-1.8M | $-29.2M | $-7.7M | $-12.6M | $10.8M | $9.2M |
| Net Margin | 2.3% | 1.2% | -0.6% | -9.4% | -3.6% | -11.3% | 9.1% | 10.0% |
| EPS (Basic) | $0.11 | $0.05 | $-0.02 | $-0.42 | $-0.13 | $-0.28 | $0.25 | $0.00 |
| EPS (Diluted) | $0.11 | $0.05 | $-0.02 | $-0.42 | $-0.13 | $-0.28 | $0.25 | $0.00 |
| Shares Outstanding (Basic) | 84.5M | 77.5M | 75.2M | 69.2M | 58.7M | 44.7M | 42.2M | 42.3M |
| Shares Outstanding (Diluted) | 86.9M | 80.0M | 75.2M | 69.2M | 58.7M | 44.7M | 42.2M | 42.3M |
| Dividends Per Share | — | — | — | — | — | — | — | — |