NASDAQ$GDYN
Grid Dynamics Holdings Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported record GAAP net income and flat revenue year-over-year.
Grid Dynamics reported Q2 2023 financial results with a revenue of $77.3 million, flat compared to the same quarter last year. The company achieved a GAAP net income of $2.6 million, or $0.03 per share, a significant improvement from the GAAP net loss of $13.2 million, or $(0.20) per share in Q2 2022.
- Revenue remained flat year-over-year at $77.3 million.
- GAAP net income attributable to common stockholders was $2.6 million, or $0.03 per share.
- Non-GAAP net income was $7.0 million, or $0.09 per diluted share.
- The company signed several large enterprise customers and completed nine AI projects during the quarter.
Headline financials
Revenue & EPS history
Grid Dynamics · Revenue · Quarterly
$77.3M
Revenue by segment
Grid Dynamics · $77.3M total across 5 segments · Q2 2023
- Retail$26M+2.3%33.7%
- TMT$24.1M+3.0%31.2%
- CPG/Manufacturing$10.9M-32.4%14.1%
- Other$9.59M+30.5%12.4%
- Finance$6.75M+33.7%8.7%
Forward guidance
The company expects its third-quarter outlook to be similar to the second quarter outlook provided in May 2023 for both revenue and Non-GAAP EBITDA. Revenue in the third quarter of 2023 is expected to be between $76 million and $78 million and Non-GAAP EBITDA is expected to be between $10 million and $11 million.
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 Q2 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% |
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