Tue, Apr 29, 8:35 PM (16 days ago)
**Grid Dynamics Holdings, Inc. (GDYN) 2024 Financial Summary** Grid Dynamics Holdings, Inc. (GDYN) reported strong financial performance for the fiscal year ended December 31, 2024. The company achieved record revenue of $350.6 million, marking a 12.0% year-over-year increase. This growth was driven by both existing and new customers across various industry verticals, highlighting the company's technical competency and business value. **Financial Performance:** - **Revenue:** $350.6 million, up 12.0% year-over-year. - **GAAP Net Income:** $4.0 million, compared to a GAAP net loss of $(1.8) million in 2023. - **Non-GAAP EBITDA:** $52.5 million, up from $44.2 million in 2023. **Strategic Overview:** Grid Dynamics continued to scale its delivery locations, furthering its "follow-the-sun" strategy across Europe, India, and the Americas. The company acquired Juxt in the U.K. and Mobile Computing in Argentina to enhance its global footprint and capabilities. **Executive Compensation:** The company's executive compensation program is designed to attract, retain, and incentivize top talent. The program includes base salary, annual cash bonuses, and long-term equity incentives. The compensation committee focuses on aligning executive compensation with stockholder interests and long-term value creation. **Future Outlook:** Grid Dynamics remains committed to scaling both sales and technology. The company's strategic acquisitions and focus on enterprise AI position it for continued growth and success in the technology consulting and services market. **Risk Factors:** The company's compensation programs and policies are designed to mitigate risks associated with excessive risk-taking. The majority of executive compensation is tied to financial performance, ensuring alignment with stockholder interests. **Market Position:** Grid Dynamics is positioned at the 35th percentile in revenue and the 32nd percentile in market capitalization as of September 2024. The company's strategic acquisitions and focus on enterprise AI strengthen its market position and competitive landscape. **Financial Condition:** The company's financial statements reflect a strong financial condition, with significant improvements in net income and EBITDA. The company's strategic investments and focus on growth drive its financial performance and market position.