Grid Dynamics Holdings, Inc. Q1 2026 Financial Results

Grid Dynamics Holdings, Inc. reported first quarter 2026 revenues of $104.1 million, slightly exceeding guidance. The Technology, Media and Telecom (TMT) vertical was a key growth driver, contributing 29.5% of revenues with significant year-over-year growth. Retail and Finance verticals also performed strongly, contributing 28.4% and 23.5% of revenues, respectively. AI revenues reached 29.3% of total revenues, demonstrating the success of the company's AI transformation strategy. The company reported a GAAP net loss of $1.5 million, or $0.02 per share, compared to a net income of $2.9 million, or $0.03 per share, in the first quarter of 2025. Non-GAAP net income was $7.5 million, or $0.09 per diluted share, down from $10.0 million, or $0.11 per diluted share, in the prior year. Non-GAAP EBITDA was $12.5 million, compared to $14.6 million in Q1 2025. The company expects second quarter 2026 revenues to be in the range of $106.0 to $108.0 million and full-year 2026 revenues to be between $435.0 and $465.0 million.