Grid Dynamics Reports First Quarter 2020 Financial Results

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Go back to Grid Dynamics Reports First Quarter 2020 Financial Results

Grid Dynamics Holdings, Inc. (GDYN) Reports Q1 Loss of $0.09

May 11, 2020 5:38 PM EDT

Grid Dynamics Holdings, Inc. (NASDAQ: GDYN) reported Q1 EPS of ($0.09), versus $0.04 reported last year. Revenue for the quarter came in at $32.5 million, versus $26.28 million reported last year.

First Quarter 2020 Financial Highlights

Total revenue was $32.5 million, an increase of 2% sequentially and 24% year-over-year.GAAP gross profit was $9.8 million or 30.2% of revenue, compared to GAAP gross profit of $10.3 million or 39.4% of revenue in the first quarter of 2019. Non-GAAP gross profit was $11.5 million or 35.4% of revenue, compared to a non-GAAP gross profit of $10.6 million or 40.3% of revenue in the first quarter of 2019.GAAP Net loss... More