Business
Grid Dynamics Reports Second Quarter 2025 Financial Results
Record Revenues of $101.1 million and GAAP Net Income of $5.3 million SAN RAMON, Calif.--(BUSINESS WIRE)-- Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) (“Grid
About this update from Grid Dynamics Holdings, Inc.
[{"type":"text","content":"\nRecord Revenues of $101.1 million and GAAP Net Income of $5.3 million\n\n\n SAN RAMON, Calif.--(BUSINESS WIRE)--\nGrid Dynamics Holdings, Inc. (Nasdaq: GDYN) (“Grid Dynamics” or the “Company”), a leader in enterprise-level AI and digital transformation, today announced results for the second quarter ended June 30, 2025.\n\n\nWe are pleased to report second quarter 2025 revenues of $101.1 million, slightly above the midpoint of our outlook of $100.0 million to $102.0 million that we provided in May 2025.\n\n\nRetail remained our largest vertical, contributing 29.2% of total revenues in the second quarter of 2025. The Finance vertical maintained its strong growth, doubling revenues year-over-year for the fourth consecutive quarter. This performance was driven by sustained demand from fintech customers, together with contributions from our 2024 acquisitions. As a result, Finance became our second-largest vertical, accounting for 25.1% of total revenues in the quarter. Our Technology, Media and Telecom (“TMT”) vertical represented 24.9% of the second-quarter revenues, increasing 6.7% sequentially and 8.4% year-over-year. Revenues from the Consumer Packaged Goods (“CPG”) and Manufacturing vertical were flat on a sequential basis but grew 7.7% year-over-year, primarily due to contributions from our 2024 acquisitions. Lastly, the Healthcare and Pharma, and Other verticals grew by 6.3% and 10.1%, respectively, compared to the first quarter of 2025, and contributed 2.5% and 7.8% of total second-quarter revenues, respectively.\n\n\n“Our second quarter revenue was a record aided by demand from both our new and existing customers, which are prioritizing innovation-centric initiatives from a spending perspective. Our ability to provide high-caliber technology consulting and engineering services continues to promote success for our clients.\n\n\nAcross the majority of our customers, AI is having a profound impact on how they plan their future initiatives. Companies are actively seeking AI-native partners that can lead and drive adoption within their organizations. Grid Dynamics is aligning every aspect of its business with an AI-first approach. I’m pleased to report that in the first half of 2025, our AI and Data practice accounted for 23% of our total organic revenue and is growing almost three times faster than our overall organic busines...