Financial Performance - Total revenues for Q1 2025 were 100.4million,representingayear−over−yeargrowthof25.82.9 million, compared to a net loss of 3.9millioninQ12024[7]−Non−GAAPEBITDAforQ12025was14.6 million, up from 10.3millioninQ12024[8]−Non−GAAPnetincomeforQ12025was9,952, up from 7,617inQ12024,reflectingayear−over−yearincreaseof30.50.11, compared to 0.10inQ12024,indicatinga1025,028, representing 24.9% of total revenues, compared to 10,243or12.831,521 in revenue, accounting for 31.4% of total revenues, up from 30.9% in Q1 2024[34] - Revenues for Q1 2025 reached 100,415,anincreaseof25.979,817 in Q1 2024[29] Cash Flow and Assets - Cash provided by operating activities was 9.4millionforQ12025,comparedto3.2 million for Q1 2024[14] - Total current assets as of March 31, 2025, were 421,681,slightlydownfrom423,304 as of December 31, 2024[27] - Total assets as of March 31, 2025, were 590,899,aslightdecreasefrom592,192 as of December 31, 2024[27] - Total liabilities decreased to 73,538asofMarch31,2025,from74,363 as of December 31, 2024[27] Future Projections - The company expects full-year 2025 revenues to be in the range of 415to435 million, indicating a year-over-year growth of 18.4% to 24.1%[10] - The second quarter revenue is projected to be between 100millionand102 million[14] Operational Highlights - Total headcount increased to 4,926 as of March 31, 2025, up from 3,892 a year earlier[14] - The company signed several sizable deals in Q1 2025, including engagements in automotive, financial, and CPG sectors[4] - The partnership business is expected to grow in 2025, with a strong pipeline of migration and modernization efforts[5] Compensation and Expenses - Stock-based compensation increased to 10,743inQ12025from11,339 in Q1 2024[32]
Grid Dynamics(GDYN)2025-05-01 20:05