NASDAQ$GDYN
Grid Dynamics Holdings Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported revenue of $80.1 million, a 12.1% year-over-year increase.
Grid Dynamics reported a revenue of $80.1 million for Q1 2023, representing a 12.1% year-over-year increase. The company's non-retail industry verticals accounted for 68.3% of the revenue. GAAP net loss attributable to common stockholders was $(8.0) million, or $(0.11) per share. Non-GAAP net income was $6.5 million, or $0.08 per diluted share.
- Revenue was $80.1 million, up 12.1% year-over-year.
- GAAP gross profit was $28.6 million, or 35.7% of revenue.
- GAAP Net loss was $(8.0) million, or $(0.11) per share.
- Non-GAAP Net income was $6.5 million, or $0.08 per diluted share.
Headline financials
Revenue & EPS history
Grid Dynamics · Revenue · Quarterly
$80.1M
Revenue by segment
Grid Dynamics · $80.1M total across 5 segments · Q1 2023
- TMT$26.8M+25.0%33.5%
- Retail$25.4M+9.0%31.7%
- CPG/Manufacturing$12.6M-15.6%15.8%
- Other$8.71M+21.8%10.9%
- Finance$6.52M+43.9%8.1%
Forward guidance
The Company expects revenue in the second quarter of 2023 to be between $76.0 million and $78.0 million. Non-GAAP EBITDA in the second quarter of 2023 is expected to be between $10.0 million and $11.0 million.
Tailwinds
- Revenue in Q2 2023 is expected to be between $76.0 million and $78.0 million.
- Non-GAAP EBITDA in Q2 2023 is expected to be between $10.0 million and $11.0 million.
- Basic share count to be in the 75-76 million range.
- Diluted share count to be in the 78-79 million range.
- Company is executing on its strategy
Headwinds
- Grid Dynamics is not able, at this time, to provide GAAP targets for net income for the second quarter of 2023 because of the difficulty of estimating certain items excluded from Non-GAAP EBITDA that cannot be reasonably predicted
- Macroeconomic conditions may affect financial performance
- Relatively short operating history in a rapidly evolving industry
- Revenues are highly dependent on a limited number of clients
- Intense and increasing competition
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+3.2%
Avg return
Earnings day
+1.9%
Avg return
5 days after
+4.7%
Avg return
30 days after
69%
20 / 29 earnings
Positive
+28.3%
Q3 2021
Best reaction
-20.6%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.4% | +8.7% | +28.3% | |
| Q4 2025 | -7.0% | -7.4% | -19.3% | |
| Q3 2025 | +22.9% | +18.0% | +15.3% | |
| Q1 2025 | -3.1% | -5.3% | -11.0% | |
| Q4 2024 | +4.3% | -2.8% | -20.6% | |
| Q3 2024 | -4.3% | +0.6% | +14.9% | |
| Q2 2024 | +7.3% | +4.7% | +7.9% | |
| Q1 2024 | +1.6% | +9.7% | -4.1% | |
| Q4 2023 | +5.0% | +2.7% | -9.5% | |
| Q3 2023 | +16.5% | +13.6% | +23.0% | |
| Q2 2023 | +16.9% | +13.9% | +21.8% | |
| Q1 2023 | -20.6% | -25.0% | -13.8% | |
| Q4 2022 | +4.0% | -1.9% | -9.9% | |
| Q3 2022 | -9.7% | -13.8% | -4.7% | |
| Q2 2022 | +2.7% | +0.6% | +2.8% | |
| Q1 2022 | +14.6% | +5.1% | +22.7% | |
| Q4 2021 | -15.5% | +7.0% | +23.6% | |
| Q3 2021 | +28.3% | +28.1% | +30.5% | |
| Q2 2021 | +18.5% | +15.1% | +44.0% | |
| Q1 2021 | +7.2% | +7.2% | +8.8% | |
| Q4 2020 | -7.7% | -4.4% | +2.3% | |
| Q3 2020 | +10.9% | +12.5% | +37.3% | |
| Q2 2020 | +4.2% | +8.4% | +8.4% | |
| Q1 2020 | -15.2% | -12.1% | -6.5% | |
| Q2 2019 | +1.8% | -15.6% | -32.1% | |
| Q4 2019 | +1.8% | -15.6% | -32.1% | |
| Q3 2019 | +4.5% | +4.1% | +6.7% | |
| Q1 2019 | +0.3% | +0.3% | +0.7% | |
| Q4 2018 | -0.2% | -0.2% | +0.1% |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro