Published on 22 Feb 2024 on GuruFocus.com via Yahoo Finance
Grid Dynamics Holdings Inc (GDYN) Reports Modest Revenue Growth Amidst Industry Diversification
Revenue: Fourth quarter revenue reached $78.1 million, exceeding outlook and contributing to a full year revenue of $312.9 million.Net Income: GAAP net income for Q4 stood at $2.9 million, a significant improvement from the net loss of $6.7 million in Q4 of the previous year.Gross Profit: GAAP gross profit was $28.1 million in Q4, with a margin of 36.0%, compared to 40.1% in the same quarter last year.EBITDA: Non-GAAP EBITDA for Q4 was $10.7 million, down from $16.5 million in Q4 2022.Cash Flow: Operating activities generated $41.1 million in cash for the year, an increase from $31.7 million in the previous year.Headcount: Total headcount increased to 3,920 by the end of 2023, up from 3,798 at the end of 2022.Financial Outlook: Q1 2024 revenue is projected to be between $77 million and $79 million, with Non-GAAP EBITDA expected to be between $9.5 million and $10.5 million.
Warning! GuruFocus has detected 6 Warning Signs with GDYN.
On February 22, 2024, Grid Dynamics Holdings Inc (NASDAQ:GDYN), a leader in enterprise-level digital transformation, released its 8-K filing, detailing financial results for the fourth quarter and full year ended December 31, 2023. The company, known for providing tailored digital solutions to Fortune 1000 companies, reported a slight year-over-year revenue increase, signaling resilience in a challenging economic landscape.