AI Earnings Predictions for Grid Dynamics Holdings Inc. (GDYN)

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EX-99.1

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Exhibit 99.1

Grid Dynamics Reports Record Third Quarter 2026 Financial Results

Revenues of $114.3 million and Record AI Revenues of 31%

San Ramon, Calif. — October 29, 2026 – Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) (“Grid Dynamics” or the “Company”), a leader in enterprise-level AI and digital transformation, today announced results for the quarter ended September 30, 2026.

Third Quarter 2026 Revenues Performance

We are pleased to report third quarter 2026 revenues of $114.3 million, above the high end of our guidance range of $112.0 million to $114.0 million that we provided in July 2026.

Our Technology, Media and Telecom (“TMT”) vertical was our principal growth driver, representing 32.3% of the third quarter revenues. TMT revenues increased 29.3% year-over-year and 7.6% sequentially, driven by higher demand from our largest technology customers as well as new customers. Retail remained our second-largest vertical, contributing 27.2% of total revenues for the third quarter of 2026, an increase of 13.3% year-over-year and 8.5% sequentially, driven by increased demand from specialty retailers. The Finance vertical contributed 22.5% of the third quarter revenues, an increase of 3.9% sequentially, supported by ongoing demand from global capital market customers. Our Consumer Packaged Goods (“CPG”) and Manufacturing vertical represented 10.9% of quarterly revenues and increased 5.8% sequentially. Lastly, the Healthcare and Pharma, and Other verticals contributed 1.8% and 5.3% of the third quarter revenues, respectively.

“Q3 2026 was a pivotal quarter for Grid Dynamics, delivering record revenue, record EBITDA, and AI-native programs in production at some of the world’s largest enterprises. AI revenue has grown over 45% year-over-year for three consecutive quarters and is now 31% of total revenue. We delivered a 40% gross margin and a 20% EBITDA margin, exceeding our 300 basis point margin commitment a quarter sooner than planned. This is a reflection of substantial enhancements to our business model, not a one-time event.

We are growing faster, more profitably, and precisely where enterprise AI spend is accelerating. We enter the fourth quarter with confidence and a positive backdrop for 2027, backed by the momentum and structural foundation to sustain it in the years ahead,” said Leonard Livschitz, Chief Executive Officer.

Third Quarter 2026 Financial Highlights

•Total revenues were $114.3 million, up 5.7% sequentially and 9.7% year-over-year.

•GAAP gross profit was $46.1 million, or 40.3% of revenues, compared to $34.7 million, or 33.3% of revenues, in the third quarter of 2025.

•Non-GAAP gross profit was $46.5 million, or 40.6% of revenues, compared to $35.2 million, or 33.8% of revenues, in the third quarter of 2025.

•GAAP net income was $6.2 million, or $0.08 per share, based on 81.9 million diluted weighted-average common shares outstanding in the third quarter of 2026, compared to $1.2 million, or $0.01 per share, based on 85.8 million diluted weighted-average common shares outstanding, in the third quarter of 2025.

•Non-GAAP net income was $14.7 million, or $0.18 per diluted share, based on 81.9 million diluted weighted-average common shares outstanding in the third quarter of 2026, compared to $8.2 million, or $0.09 per diluted share, based on 85.8 million diluted weighted-average common shares outstanding, in the third quarter of 2025.

•Non-GAAP EBITDA (earnings before interest, taxes, depreciation, amortization, other income and expenses, fair value adjustments, stock-based compensation, transaction and transformation-related costs, and restructuring costs as well as geographic reorganization expenses), a non-GAAP metric, was $22.9 million, or 20.0% of revenues, compared to $12.7 million, or 12.2% of revenues, in the third quarter of 2025.

See “Non-GAAP Financial Measures” and “Reconciliation of Non-GAAP Information” below for a discussion of our non-GAAP measures.

Cash Flow and Other Metrics

•Cash provided by operating activities was $30.5 million for the nine months ended September 30, 2026, compared to $30.7 million for the nine months ended September 30, 2025.

•The Company spent $35.5 million to repurchase 5.3 million shares during the nine months ended September 30, 2026, under its $50 million share repurchase program, which included $6.7 million, or 0.9 million shares, during the third quarter of 2026.

•Cash and cash equivalents totaled $304.3 million as of September 30, 2026, compared to $342.1 million as of December 31, 2025.

•Total headcount was 4,559 as of September 30, 2026, compared with 4,971 as of September 30, 2025.

Financial Outlook

Fourth Quarter

•The Company expects revenues in the fourth quarter of 2026 to be in the range of $113.5 to $115.5 million.

•Non-GAAP EBITDA in the fourth quarter of 2026 is expected to be between $20.0 and $22.0 million.

•For the fourth quarter of 2026, we expect our basic

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Exhibit 99.1

Grid Dynamics Reports First Quarter 2026 Financial Results

Revenues of $104.1 million and Record AI Revenues of 29.3%

San Ramon, Calif. — April 30, 2026 – Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) (“Grid Dynamics” or the “Company”), a leader in enterprise-level AI and digital transformation, today announced results for the quarter ended March 31, 2026.

First Quarter 2026 Revenues Performance

We are pleased to report first quarter 2026 revenues of $104.1 million, slightly above the higher end of our guidance range of $103.0 million to $104.0 million that we provided in March 2026.

Our Technology, Media and Telecom (“TMT”) vertical represented 29.5% of the first quarter revenues and was the key growth driver for the quarter, with revenues increasing 2.3% sequentially and 30.3% year-over-year. The strong year-over-year growth was driven by our top two technology customers. Retail was our second-largest vertical, contributing 28.4% of total revenues in the first quarter of 2026. The Finance vertical continued to perform strongly, contributing 23.5% of total revenues for the quarter, due to robust demand from our key fintech and banking customers. The Consumer Packaged Goods (“CPG”) and Manufacturing vertical represented 9.4% of first-quarter revenues. Lastly, the Healthcare and Pharma, and Other verticals contributed 2.1% and 7.1% of total first quarter revenues, respectively.

“Last quarter, we called 2026 a pivotal year for the accelerated adoption of our AI offerings. Our first quarter results are clear validation that our AI transformation is working, with AI revenues reaching 29.3% of total revenues. We introduced our GAIN platforms for Agentic Commerce, SDLC, Risk and Compliance, and Physical AI, each of which convert our deep IP and domain expertise into AI-native solutions. These GAIN platforms are now in production across a range of industry verticals, generating measurable business impact for our clients.

Our partnership-influenced revenues reached 19.1% of total revenues, with the majority coming from the top three hyperscalers and a meaningful proportion derived from AI engagements. Our pipeline entering the second quarter is strong. For the first time, our top five accounts are entirely outside of retail, reflecting meaningful diversification into technology and financial services, sectors where AI adoption is accelerating and our capabilities are highly differentiated.” said Leonard Livschitz, Chief Executive Officer.

First Quarter 2026 Financial Highlights

•Total revenues were $104.1 million, up 3.7% on a year-over-year basis.

•GAAP gross profit was $36.2 million, or 34.8% of revenues, compared to $37.0 million, or 36.8% of revenues, in the first quarter of 2025.

•Non-GAAP gross profit was $36.7 million, or 35.3% of revenues, compared to $37.6 million, or 37.4% of revenues, in the first quarter of 2025.

•GAAP net loss was $1.5 million, or $0.02 per share, based on 84.7 million diluted weighted-average common shares outstanding in the first quarter of 2026, compared to net income of $2.9 million, or $0.03 per share, based on 87.8 million diluted weighted-average common shares outstanding, in the first quarter of 2025.

•Non-GAAP net income was $7.5 million, or $0.09 per diluted share, based on 85.9 million diluted weighted-average common shares outstanding in the first quarter of 2026, compared to $10.0 million, or $0.11 per diluted share, based on 87.8 million diluted weighted-average common shares outstanding, in the first quarter of 2025.

•Non-GAAP EBITDA (earnings before interest, taxes, depreciation, amortization, other income and expenses, fair value adjustments, stock-based compensation, transaction and transformation-related costs, and restructuring costs as well as geographic reorganization expenses), a non-GAAP metric, was $12.5 million, compared to $14.6 million in the first quarter of 2025.

See “Non-GAAP Financial Measures” and “Reconciliation of Non-GAAP Information” below for a discussion of our non-GAAP measures.

Cash Flow and Other Metrics

•Cash provided by operating activities was $8.4 million for the three months ended March 31, 2026, compared to $9.4 million for the three months ended March 31, 2025.

•Cash and cash equivalents totaled $327.5 million as of March 31, 2026, compared to $342.1 million as of December 31, 2025.

•Total headcount was 4,964 as of March 31, 2026, compared with 4,926 as of March 31, 2025.

Financial Outlook

Second Quarter

•The Company expects revenues in the second quarter of 2026 to be in the range of $106.0 to $108.0 million.

•Non-GAAP EBITDA in the second quarter of 2026 is expected to be between $14.0 and $15.0 million.

•For the second quarter of 2026, we expect our basic share count to be in the 84 - 85 million range and diluted share count to be in the 85 - 86 million range.

Full Year

•The Company expects full-year 2026 revenues to be in the range of $435.0 to