Grid Dynamics Holdings, Inc. is a leading provider of technology consulting, platform and product engineering, and advanced analytics services. The company specializes in enterprise-level digital transformations, offering services such as strategy consulting, development of early prototypes, and enterprise-scale delivery of new digital platforms. Grid Dynamics is known for its expertise in cloud migrations, DevOps, microservices, big data, and artificial intelligence (AI).
- Retail - Delivers software development and hosting services tailored for the retail industry, enhancing digital transformation and customer engagement.
- Technology, Media and Telecom (TMT) - Provides specialized services for technology, media, and telecom sectors, focusing on digital platform engineering and advanced analytics.
- Finance - Offers consulting and engineering services to financial institutions, aiding in digital transformation and operational efficiency.
- Consumer Packaged Goods (CPG)/Manufacturing - Engages in platform and product engineering for CPG and manufacturing industries, optimizing supply chain and manufacturing processes.
- Healthcare and Pharma - Provides technology solutions and consulting services to healthcare and pharmaceutical companies, supporting digital innovation and data management.
- Other - Includes various other industry verticals where Grid Dynamics applies its technology consulting and engineering expertise.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Leonard Livschitz ExecutiveBoard | Chief Executive Officer | Leonard Livschitz has been serving as the Chief Executive Officer of Grid Dynamics Holdings, Inc. since 2014 and has been a board director since 2006. He brings over 25 years of experience in high-tech leadership, including co-founding and leading Luxera from 2010 to 2014. | View Report → | |
Anil Doradla Executive | Chief Financial Officer | Anil Doradla is the Chief Financial Officer at Grid Dynamics since December 2019, and previously served as CFO at Airgain, Inc. and as an Equity Research Analyst at William Blair. | ||
Yury Gryzlov Executive | Chief Operating Officer | Yury Gryzlov has served as Chief Operating Officer at Grid Dynamics since January 2021 and assumed the role of Chief Executive Officer of Grid Dynamics Europe in August 2022. | ||
Eric Benhamou Board | Director | Board Member at Evinced; Board Member at Blendid; Board Member at Virtana; Board Member at 6dbytes | Eric Benhamou has been a director at Grid Dynamics since 2015 and serves on key committees including the Audit Committee, Compensation Committee (as Chair), and the Nominating and Corporate Governance Committee. He brings extensive experience from previous leadership roles in technology companies. | |
Lloyd Carney Board | Chairman of the Board of Directors | Member of the board of directors and Chair of the Audit Committee at Visa; Member of the board of directors at Vertex Pharmaceuticals | Lloyd Carney has been a director at Grid Dynamics since June 14, 2018 and is currently Chairman of the Board of Directors. With over 25 years of experience in the technology industry, he has held executive roles at companies such as Micromuse, Xsigo Systems, and Brocade Communications. | |
Marina Levinson Board | Class I Director | CEO of CIO Advisory Group LLC; Partner at Benhamou Global Ventures (BGV) | Marina Levinson has served as a Class I Director at GDYN since 2020 and is a member of the Audit Committee. She brings extensive experience from her active roles in the technology industry. | |
Michael Southworth Board | Director | CEO of Babel Street; Board Director of Quality of Life Plus | Michael Southworth has served as a Director at GDYN since 2020 and currently holds the role of Chair of the Audit Committee. | |
Patrick Nicolet Board | Director | Chairman of Linebreak AG | Patrick Nicolet has been serving as a non-employee director at Grid Dynamics since 2022. He brings extensive experience from over 20 years in technology consulting and digital transformation, and he is also the Chairman of Linebreak AG, founded in January 2021. | |
Shuo Zhang Board | non-employee director | Non-employee director at S.O.I.TEC Silicon on Insulator Technologies SA; Board member at Telink Semiconductor; Board member at PDF Solutions; China Advisory Partner for Benhamou Global Ventures (BGV) | Shuo Zhang has served as a non-employee director at GDYN since 2017 and is a member of the audit committee. She has extensive experience in general management, marketing, and strategic business development, along with active board roles in several other companies. | |
Weihang Wang Board | Non-employee director | Executive Director at Automated Systems Holdings; Chairman and Director at Teamsun; Sole Director at Hong Kong Teamsun | Weihang Wang has served as a non-employee director at GDYN since 2017, and is a recognized leader in the IT industry with extensive roles at ASL and Teamsun. | |
Yueou Wang Board | Non-employee Director | CEO of Automated Systems Holdings Limited since September 2016; Executive Director of Automated Systems Holdings Limited since September 2015 | Yueou Wang has served as a non-employee director at GDYN since 2017 and is a Class II director whose term expires at the 2027 annual meeting of stockholders. He also holds active leadership roles as CEO since September 2016 and Executive Director since September 2015 of Automated Systems Holdings Limited. |
- Given the announcement of strong billable headcount and cautious client behavior, how do you plan to ensure that the increased billable positions translate into sustained long-term revenue, and what contingency measures are in place if client commitment lags?
- Your guidance suggests modest Q2 growth but a significant second-half ramp; can you detail the specific client trends or lumpy commitments that underpin this projection and how you will manage potential capacity mismatches?
- With margin expansion cited as a key objective amid continued investments in technology and talent, how do you balance these investments against the push for improved margins, and what are your specific quarterly margin improvement targets?
- Acquisitions have been a notable growth driver this quarter; what are the main integration challenges you foresee in assimilating these acquired entities, and how swiftly do you expect them to contribute materially to overall revenue?
- As you explore evolving pricing models—from fixed-price contracts to outcome-based engagements—what challenges have you encountered regarding profitability and client retention, and how are you adjusting your strategy to mitigate these risks?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
The company is identified as an emerging small to mid-cap digital services provider competing in the digital transformation space, particularly against firms focused on complex digital transformation programs and technical employee bases. | |
This competitor is listed among emerging small to mid-cap digital services companies that compete in the digital transformation sector, emphasizing technical expertise and industry knowledge. | |
Thoughtworks Holding Inc. | The company is mentioned as a competitor in the digital services space, focusing on digital transformation programs and technical innovation. |
This competitor is described as a large global consulting and outsourcing firm, competing in the IT services market, particularly in areas like digital transformation and consulting services. | |
The company is listed as a competitor in the digital transformation and IT services sector, emphasizing technical expertise and industry knowledge. | |
Capgemini SE | This competitor is identified as a large global consulting and outsourcing firm, competing in the IT services market with a focus on consulting and outsourcing services. |
The company is mentioned as an India-based technology outsourcing IT services provider, competing in the IT services market with a focus on outsourcing and technical expertise. | |
This competitor is described as an India-based technology outsourcing IT services provider, competing in the IT services market with a focus on outsourcing and technical expertise. | |
The company is listed as an India-based technology outsourcing IT services provider, competing in the IT services market with a focus on outsourcing and technical expertise. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Major Customer #1 (2024) | Project-specific T&M | All | Accounted for 16.0% of total revenue in 2024. |
Major Customer #1 (2023) | Project-specific T&M | All | Accounted for 14.4% of total revenue in 2023. |
Major Customer #1 (2022) | Project-specific T&M | All | Accounted for 12.6% of total revenue in 2022. |
Major Customer #2 (2022) | Project-specific T&M | All | Accounted for 10.6% of total revenue in 2022. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Mobile Computing S.A. | 2024 | Deal value: $13.3 million at closing; the acquisition boosts Grid Dynamics’ follow-the-sun delivery model by enhancing capabilities in digital transformation across manufacturing, CPG, and financial services in Latin America. |
JUXT Ltd. | 2024 | Deal value: $47.0 million (with $39.5 million cash and $7.5 million contingent) acquired along with Headrunner Limited and Congreve Computing Ltd.; this acquisition strengthens Grid Dynamics’ go-to-market positioning in the Finance vertical by adding expertise in data-intensive risk platforms and structured products. |
NextSphere Technologies | 2023 | Deal value: $25.2 million (with $24.3 million cash and $0.9 million contingent, up to $2.0 million possible) aimed to enhance Grid Dynamics’ technical capabilities and global footprint in Healthcare, Fintech, and CPG/Manufacturing sectors. |
Tacit Knowledge Inc. | 2021 | Deal value: $37.0 million (including $33.6 million cash and $3.4 million contingent, max $5.0 million based on performance) which bolsters Grid Dynamics’ digital commerce services, expands its enterprise presence in Europe, and provides near-shore capabilities through its engineering centers. |
Daxx Web Industries B.V. | 2020 | Acquired as announced on December 14, 2020, bringing in a Netherlands-based software development and consulting firm with over 20 years’ experience; the deal expands Grid Dynamics’ digital transformation capabilities and its presence in Western Europe. |
Recent press releases and 8-K filings for GDYN.
- Grid Dynamics Holdings, Inc. entered into the Fourth Amendment to its Credit Agreement on May 20, 2025, which extends the maturity date of the agreement to March 15, 2028.
- The amended Credit Agreement provides for a secured multicurrency revolving loan facility with an initial aggregate principal amount of up to $30.0 million, and the Company may increase this facility up to $50.0 million.
- As of May 20, 2025, there was no outstanding principal amount of revolving loans or outstanding letters of credit under the facility.
- The Fourth Amendment also increases certain baskets under the debt, lien, investment, disposition, and restricted payment covenants, including raising the limit for certain types of indebtedness from $5.0 million to $7.5 million.
- Grid Dynamics Holdings, Inc. reported record revenues of $100.4 million for the first quarter ended March 31, 2025, which was slightly above their outlook range.
- For Q1 2025, the company achieved GAAP net income of $2.9 million, or $0.03 per share, and Non-GAAP net income of $10.0 million, or $0.11 per diluted share.
- Retail remained the largest vertical, accounting for 31.4% of total revenues, while the Finance vertical demonstrated strong performance, increasing 144.3% year-over-year to become the second largest vertical at 24.9% of total revenues.
- The company provided a Q2 2025 revenue outlook of $100 million to $102 million and maintained its full-year 2025 revenue outlook in the range of $415 million to $435 million.