Revenue Growth - Fourth quarter 2024 revenues reached $100.3 million, a year-over-year growth of 28.5%[2] - Full year 2024 revenues totaled $350.6 million, up from $312.9 million in 2023, representing a 12.0% increase[11] - Revenues for the three months ended December 31, 2024, were $100,282 thousand, a 28.4% increase from $78,069 thousand in the same period of 2023[26] - Total revenue for Q4 2024 was $100,282 million, a 28.4% increase from $78,069 million in Q4 2023[41] - The Finance vertical experienced significant growth, with a year-over-year increase of 180.1%[2] - The Finance vertical saw substantial growth, with revenue increasing to $23,190 million in Q4 2024 from $8,280 million in Q4 2023, representing a 179.4% increase[41] - Retail revenue for the year ended December 31, 2024, was $113,957 million, slightly up from $102,551 million in 2023, maintaining a stable market share[41] Income and Earnings - GAAP net income for Q4 2024 was $4.5 million, or $0.05 per share, compared to $2.9 million, or $0.04 per share, in Q4 2023[6] - Non-GAAP net income for the full year 2024 was $37.2 million, or $0.47 per share, compared to $31.7 million, or $0.42 per share, in 2023[11] - Non-GAAP net income for Q4 2024 reached $10,284 million, up from $7,489 million in Q4 2023, reflecting a growth of 37.5%[37] - The company's GAAP diluted EPS for Q4 2024 was $0.05, compared to $0.04 in Q4 2023[37] - Non-GAAP diluted EPS for Q4 2024 was $0.12, up from $0.10 in Q4 2023, indicating a 20% increase[37] - Net income for the year ended December 31, 2024, was $4,041 thousand, compared to a net loss of $1,765 thousand in 2023[26] Expenses and Costs - The company reported total operating expenses of $129,110 thousand for the year ended December 31, 2024, compared to $118,726 thousand in 2023, a rise of 8.5%[26] - The company incurred acquisition-related costs of $43,072 thousand for the year ended December 31, 2024, compared to $17,830 thousand in 2023[30] - The company incurred $34,167 million in stock-based compensation for the year ended December 31, 2024, compared to $35,516 million in 2023, showing a decrease[37] - The company has implemented a restructuring plan, resulting in restructuring costs of $1,413 million for the year ended December 31, 2024[39] Cash and Assets - Cash and cash equivalents as of December 31, 2024, totaled $334.7 million, up from $257.2 million a year earlier[11] - Cash and cash equivalents increased to $334,655 thousand as of December 31, 2024, from $257,227 thousand in 2023, representing a 30% increase[28] - Total assets grew to $592,192 thousand as of December 31, 2024, up from $435,165 thousand in 2023, reflecting a 36.2% increase[28] Future Outlook - The company expects full year 2025 revenues to be between $415.0 million and $435.0 million, indicating a growth of 18.4% to 24.1% year-over-year[11] - The AI opportunities pipeline grew to over 130, representing a 30% increase from the previous quarter[4] Employment - Total headcount increased to 4,730 employees as of December 31, 2024, compared to 3,920 a year prior[11] EBITDA - Non-GAAP EBITDA for Q4 2024 was $15.6 million, compared to $10.7 million in Q4 2023[6] - Non-GAAP EBITDA for the year ended December 31, 2024, was $52,474 thousand, compared to $44,246 thousand in 2023, indicating an 18.6% increase[36]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Grid Dynamics (GDYN) - GDYN currently holds a Momentum Style Score of A, indicating strong momentum potential [2][13] - GDYN shares have increased by 7.22% over the past week, outperforming the Zacks Computers - IT Services industry, which declined by 1.34% during the same period [4] - Over the last month, GDYN's price change is 10.84%, significantly better than the industry's 0.21% performance [4] Earnings Outlook - In the past two months, four earnings estimates for GDYN have been revised upwards, while none have been lowered, raising the consensus estimate from $0.32 to $0.34 [10] - For the next fiscal year, three estimates have increased, with one downward revision noted [10] Performance Metrics - GDYN shares have risen by 49.33% over the past quarter and 53.91% over the last year, compared to the S&P 500's increases of 5.41% and 28.01%, respectively [11] - The average 20-day trading volume for GDYN is 606,429 shares, which is considered a bullish indicator when combined with rising stock prices [9] Investment Potential - GDYN is rated as a 1 (Strong Buy) stock, supported by its strong Momentum Score of A, making it a promising candidate for investors seeking short-term gains [7][13]

Core Points - Grid Dynamics Holdings Inc. will replace Revelyst Inc. in the S&P SmallCap 600 effective January 2, 2025 [1][2] - The acquisition of Revelyst by Strategic Value Partners is expected to close soon, pending final conditions [1] Summary by Category Company Changes - Grid Dynamics Holdings (Ticker: GDYN) will be added to the S&P SmallCap 600 [2] - Revelyst (Ticker: GEAR) will be removed from the S&P SmallCap 600 [2] Sector Information - Grid Dynamics operates in the Information Technology sector [2] - Revelyst operates in the Consumer Discretionary sector [2]

Grid Dynamics Privileged and confidential Grid Dynamics / Grid Dynamics Investor Presentation Grid Dynamics Grid Dynamics Culture Investor presentation NASDAQ: GDYN | Q3 2024 Disclaimer Forward-looking statements This communication contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical facts, and involve risks and uncertainties that could cause actual results of Grid Dynamics to diff ...

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Q3 2024 Earnings Conference Call October 31, 2024 4:30 PM ET Company Participants Cary Savas - Director, Branding and Communications Leonard Livschitz - Chief Executive Officer Anil Doradla - Chief Financial Officer Yury Gryzlov - Chief Operating Officer Conference Call Participants Mayank Tandon - Needham Bryan Bergin - TD Cowen Maggie Nolan - William Blair Puneet Jain - JPMorgan Cary Savas Good afternoon, everyone. Welcome to Grid Dynamics Third Quarter 2024 Earn ...

Grid Dynamics (GDYN) came out with quarterly earnings of $0.10 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.08 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post earnings of $0.07 per share when it actually produced earnings of $0.08, delivering a surprise of 14.29%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Grid Dynamics, which belongs to t ...

Revenue Growth and Performance - Record quarterly revenues of $87.4 million, up 12.9% year-over-year[101] - Revenues for the three months ended September 30, 2024 increased by 12.9% to $87.4 million compared to $77.4 million in the prior-year period[116] - Revenues for the nine months ended September 30, 2024 grew 6.6% to $250.3 million compared to $234.8 million in the prior-year period[116] - Retail vertical contributed 34.1% of total revenues in the third quarter of 2024, with revenues increasing 12.4% to $29.8 million compared to $26.5 million in the prior-year period[118] - Finance vertical revenues almost doubled, reaching $14.2 million and $37.0 million for the three and nine months ended September 30, 2024, respectively, compared to $7.3 million and $20.6 million in the prior-year periods[121] Profitability and Margins - GAAP gross profit margins improved to 37.4% in Q3 2024, up 1.0% from the prior year[101] - Gross profit increased 16.3% to $32.7 million in the third quarter of 2024 and 5.8% to $90.0 million for the nine-month period[127] - Net income of $4.3 million in Q3 2024, compared to $0.7 million in 2023[101] - Net income for the three months ended September 30, 2024 was $4.3 million, compared to $0.7 million in the prior-year period[115] - Net loss for the nine months ended September 30, 2024 was $0.5 million, compared to a net loss of $4.7 million in the prior-year period[116] - Non-GAAP EBITDA of $14.8 million, or 16.9% of revenues, compared to $10.7 million, or 13.9% of revenues, in Q3 2023[102] - Non-GAAP EBITDA for Q3 2024 was $14.8 million, up from $10.7 million in Q3 2023, and $36.8 million for the nine months ended September 30, 2024, compared to $33.6 million in the same period of 2023[143] - Non-GAAP net income for Q3 2024 was $8.1 million, up from $5.9 million in Q3 2023, and $19.4 million for the nine months ended September 30, 2024, compared to $19.4 million in the same period of 2023[145] - Non-GAAP diluted EPS for Q3 2024 was $0.10, up from $0.08 in Q3 2023, and $0.25 for the nine months ended September 30, 2024, compared to $0.25 in the same period of 2023[145] Expenses and Costs - Cost of revenues increased 11.0% to $54.7 million in the third quarter of 2024 and 7.0% to $160.3 million for the nine-month period[126] - Engineering, research, and development expenses grew 30.7% to $4.4 million in the third quarter of 2024 and 19.0% to $12.9 million for the nine-month period[129] - Sales and marketing expenses increased 11.2% to $6.8 million in the third quarter of 2024 and 20.7% to $21.4 million for the nine-month period[131] - General and administrative expenses increased by 4.6% to $19.3 million in Q3 2024 compared to $18.5 million in the prior year period, but decreased by 3.2% to $59.0 million for the nine months ended September 30, 2024, primarily due to lower stock-based compensation expenses[133] Cash Flow and Financial Position - Operating cash inflows reached $9.2 million, with $39.5 million invested in the acquisition of JUXT[102] - Cash and cash equivalents decreased to $231.3 million as of September 30, 2024, from $257.2 million at December 31, 2023, with $38.7 million held outside the United States[148] - The company has a $30.0 million revolving credit facility with JPMorgan Chase Bank, N.A., with no debt outstanding as of September 30, 2024[147] - Net cash provided by operating activities decreased by $10.4 million to $23.1 million in the nine months ended September 30, 2024, compared to $33.5 million in the same period of 2023[150] - Net cash used in investing activities increased to $41.3 million in the nine months ended September 30, 2024, primarily due to the $32.1 million acquisition of JUXT and a 50% increase in capital expenditures to $9.1 million[151] - Net cash used in financing activities decreased by $6.7 million to $7.8 million in the nine months ended September 30, 2024, compared to $14.5 million in the same period of 2023[152] Customer and Employee Metrics - Top one customer accounted for 17.1% of revenues in Q3 2024, up from 14.3% in Q3 2023[114] - Top five customers accounted for 39.8% of revenues in Q3 2024, up from 36.8% in Q3 2023[114] - Total number of customers decreased from 265 in 2023 to 229 in 2024[112] - Total employees increased to 4,298 as of September 2024, up from 3,823 in 2023[109] Foreign Currency Exposure - Approximately 43.0% of Grid Dynamics' $85.3 million combined cost of revenues and operating expenses were denominated in non-U.S. dollar currencies in Q3 2024, up from 38.0% in Q3 2023[158] - A 10% decrease in the value of the Polish zloty against the U.S. dollar would increase Grid Dynamics' income from operations by $1.5 million in Q3 2024, while a 10% increase would decrease it by $1.8 million[158] - A 10% decrease in the value of the Mexican peso against the U.S. dollar would increase Grid Dynamics' income from operations by $0.3 million in Q3 2024, while a 10% increase would decrease it by $0.4 million[159] - Approximately 41.2% of Grid Dynamics' $253.7 million combined cost of revenues and operating expenses were denominated in non-U.S. dollar currencies in the nine months ended September 30, 2024, up from 38.0% in the same period of 2023[161] - A 10% decrease in the value of the Polish zloty against the U.S. dollar would increase Grid Dynamics' income from operations by $4.0 million in the nine months ended September 30, 2024, while a 10% increase would decrease it by $4.9 million[161] - A 10% decrease in the value of the Mexican peso against the U.S. dollar would increase Grid Dynamics' income from operations by $1.0 million in the nine months ended September 30, 2024, while a 10% increase would decrease it by $1.2 million[162] - Grid Dynamics does not currently hedge its foreign currency exposure but may evaluate new hedging strategies in future periods[165] Other Income and Tax Provisions - Other income reached $3.5 million in Q3 2024 and $8.7 million for the nine months ended September 30, 2024, driven by gains from money market funds and increased fair value of marketable equity securities[135] - Provision for income tax decreased to $1.3 million in Q3 2024 from $2.6 million in Q3 2023, and to $5.8 million for the nine months ended September 30, 2024 from $8.0 million in the same period of 2023, mainly due to Section 162(m) compensation deduction limitations and foreign inclusion adjustments[137] Operational Changes - Grid Dynamics ceased operations in Russia and liquidated its former subsidiary as of May 2023[105]

Exhibit 99.1 Grid Dynamics Reports Third Quarter 2024 Financial Results Record Revenues of $87.4 million and GAAP Net Income of $4.3 million San Ramon, Calif. October 31, 2024 – Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) ("Grid Dynamics" or the "Company"), a leader in enterprise-level digital transformation, today announced results for the third quarter ended September 30, 2024. We are very pleased to report third quarter 2024 revenues of $87.4 million that was higher than our outlook range of $84.0 millio ...

Grid Dynamics (NASDAQ: GDYN ) is one of the lesser-known but highly impactful digital transformation companies I have come across. It serves Fortune 500 companies, among others, and is well-positioned amid the current high-growth trends in AI demand. Based on my valuation analysis Oliver Rodzianko is an investment analyst specializing in the technology sector, with a focus on artificial intelligence, semiconductors, software, and renewable energy. He has earned a strong reputation on Seeking Alpha, where he ...

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Q2 2024 Earnings Conference Call August 1, 2024 4:30 PM ET Company Participants Cary Savas - Director of Branding and Communications Leonard Livschitz - CEO Anil Doradla - CFO Conference Call Participants Maggie Nolan - William Blair Bryan Bergin - TD Cowen Mayank Tandon - Needham Puneet Jain - JPMorgan Cary Savas Good afternoon, everyone. Welcome to Grid Dynamics Second Quarter 2024 Earnings Conference Call. I'm Cary Savas, Director of Branding and Communications. ...