Grid Dynamics Holdings, Inc. · NASDAQ:GDYN
Grid Dynamics — Q2 2026 Earnings Presentation
28 slides from Grid Dynamics's earnings presentation, Jul 30, 2026
Slide 1: Enterprise AI, realized.
www.griddynamics.com Enterprise AI, realized. Investor Presentation Nasdaq: GDYN | Q2 2026 Nasdaq: GDYN © 2026 Grid Dynamics Holdings, Inc. Grid Dynamics / Investor Deck Q4 & FY 2025
Slide 2: Disclaimer
Disclaimer Forward-looking statements This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are not historical facts, and involve risks and uncerta
Slide 3: The engineering company that turns frontier technology into operating reality
The engineering company that turns frontier technology into operating reality. Grid Dynamics is a public, global technology services company — a digital engineering firm that large enterprises hire to design, build, and run the software, data, and AI systems they depend on. NASDAQ GDYN ~4,800 ~19 20Y
Slide 4: Who we are
Who we are Nasdaq:GDYN Nasdaq: GDYN © 2026 © 2026 GridGrid Dynamics Dynamics Holdings, Holdings, Inc. Inc. Grid Dynamics / Investor Deck Q2 2026
Slide 5: Two decades of growth: from distributed computing to enterprise AI
Two decades of growth: from distributed computing to enterprise AI. INCEPTION TRACTION GROWTH ~4,800 ppl ≈20 ppl 2006 2010s 2020 2020–2026 Today Founded in Silicon Valley Expanded into cloud and data Public company Added capabilities and reach Global engineering scale Built distributed-computing Bro
Slide 6: Engineering centers across 19 countries, on four continents
Poland UK Netherlands Gdansk London Amsterdam Warsaw Ukraine Wroclaw Krakow Seattle USA Germany Lviv Kyiv Munich Boston Switzerland Portland New York Zug Moldova Chisinau Chicago Bucharest San Francisco Pittsburgh` Spain Belgrade Armenia Bay Area (HQ) Serbia Romania Madrid Istanbul Yerevan Atlanta D
Slide 7: We build for the Fortune 1000
We build for the Fortune 1000. Retail & Technology, Media Finance CPG & Healthcare & Commerce & Telecom Payments, risk, and Manufacturing Pharma Digital storefronts, Data platforms and AI data platforms built for Procurement, Data and AI for search, and supply for the largest resilience, regulation,
Slide 8: We compete in consulting. We're built as an engineering company
We compete in consulting. We're built as an engineering company. Shipping software is the milestone. Realizing business value is the job. 1 → 2 → 3 Business problem Production system Measured value Define what Engineer it into operations, Measure it in the client's must change. AI-native. economics.
Slide 9: We didn't pivot to AI. AI caught up to us.
We didn't pivot to AI. AI caught up to us. Each wave became a cycle: build, learn, document, reuse. What worked became the foundation for the next frontier. Grid Dynamics 2006 2011-15 2018 CODIFIED PRACTICE 2024 2025 Founded around Cloud platforms, Data Deep learning – Books documenting & Enterprise
Slide 10: The problems clients hire us to solve
The problems clients hire us to solve. ESTABLISHED PATTERNS EMERGING Smarter customer experiences — search and product discovery that understands intent, AI shopping assistants, and personalization across Physical AI channels. AI-ready data & engineering platforms — securely connecting AI to a Robot
Slide 11: In production. In the client's economics.
In production. In the client's economics. GROWTH SAVINGS PRODUCTIVITY +4.38 % $18.4 M 2w → 2h revenue per visitor in the first savings identified during one quality-engineering cycles and month following production quarter of production use. deployments from 2 days to 6 deployment. Global food-and-bev
Slide 12: Trust compounds across technology cycles
Trust compounds across technology cycles One long-standing relationship with a global technology leader: 2017–2026 Each successful mandate created the conditions for the next—expanding the work from foundational systems to production AI and physical operations. Real-time data Production ML and AI Go
Slide 13: When clients cut vendor lists, we're the one they keep
When clients cut vendor lists, we're the one they keep. A leading global technology A major U.S. bank A second global bank company Cut its preferred-supplier list from A vendor-consolidation event is a A vendor-consolidation exercise roughly 50 vendors to about 15. Grid named driver of the account's
Slide 14: Engineering knowledge, encoded into reusable platforms
Engineering knowledge, encoded into reusable platforms Every engagement can leave behind knowledge that improves the next one, and our proprietary GAIN platforms and underlying technologies are how that learning compounds. Reusable asset → Adoption → Measured leverage → Commercial leverage AI SRE Go
Slide 15: A proven path from first engagement to enterprise-wide partner
A proven path from first engagement to enterprise-wide partner 1 → 2 → 3 → 4 Discover Innovate Transform Scale & expand Fuel client Leverage technical Guide clients to create a Success of complex transformation through expertise & accelerators product culture & engagements builds discovery workshops
Slide 16: Partnerships extend our reach; direct origination is maturing
Partnerships extend our reach; direct origination is maturing Partner-originated demand Google Cloud's Global Partner for generative AI solutions. Expanded Microsoft partnership to include OpenAI + GitHub. Accelerators on Azure OpenAI, Google, and AWS Bedrock. Client advocacy & referral Q2 2026 Mult
Slide 17: Financial results
Financial results Nasdaq: GDYN © 2026 Grid Dynamics Holdings, Inc. Grid Dynamics / Investor Deck Q2 2026
Slide 18: Grid Dynamics has become increasingly diversified
Grid Dynamics has become increasingly diversified Retail Finance CPG H&P* Other TMT Q2 2026 32% 27% 23% 11% 1% 6% Q2 2025 25% 29% 25% 11% 2% 8% Q2 2024 28% 32% 15% 12% 4% 9% Q2 2023 31% 34% 9% 14% 5% 7% Q2 2022 30% 33% 7% 21% 3% 6% *H&P - Healthcare and Pharma 18 Nasdaq: GDYN © 2026 Grid Dynamics Hol
Slide 19: Q2 2026 key financial metrics
Q2 2026 key financial metrics Q2 2026 financial highlights GAAP Q2 2026 Non-GAAP Q2 2026 Revenues Q/Q change $108.2M 3.9% $108.2M 3.9% $108.2 M $39.6 M Total revenues were $108.2M, GAAP gross profit was an increase of 3.9% and 7.0% $39.6M or 36.6% of revenues, YoY change 7.0% 7.0% sequentially and on a
Slide 20: Accelerating business momentum in Q2
Accelerating business momentum in Q2 ($ in millions, % of revenues) Q2 2026 revenues Q2 revenues Q2 Non-GAAP gross profit Q2 2026 $40.0 TMT $34.4 31.8 % Q2 2026 $108.2 Q2 2025 $35.1 Q2 2024 $30.1 Retail $28.7 26.5 % Q2 2025 $101.1 Q2 2023 $28.8 Finance Q2 2022 $29.1 $24.7 22.9 % Q2 2024 $83.0 Non-GAA
Slide 21: Q2 key metrics
Q2 key metrics ($ in millions, % margin) [A] [B] Non-GAAP EBITDA Non-GAAP net income Q2 2026 $14.7 13.6 % Q2 2026 $9.0 8.3% Q2 2025 $12.7 12.6 % Q2 2025 $8.3 8.2% Q2 2024 $11.7 14.1 % Q2 2024 $8.5 10.2 % Q2 2023 $12.0 15.5 % Q2 2023 $8.6 11.1 % Q2 2022 $13.3 17.2 % Q2 2022 $8.2 10.6 % A. Non-GAAP EB
Slide 22: Q2 2026 key metrics
Q2 2026 key metrics # customers > $1M revenues Customer concentration Q2 2026 20 Q2 2026 44% 18% 38% Q2 2025 21 Q2 2025 38% 19% 43% Q2 2024 15 Q2 2024 39% 18% 43% Q2 2023 15 Q2 2023 38% 19% 43% Q2 2022 13 Q2 2022 44% 16% 40% Top 5 Top 10 Rest 22 Nasdaq: GDYN © 2026 Grid Dynamics Holdings, Inc. Grid
Slide 23: Leadership
Leadership Leonard Livschitz Anil Doradla Yury Gryzlov Vasily Sizov Chief Executive Officer Chief Financial Officer Chief Operating Officer Chief Revenue Officer CEO since 2014, board member since 2006; 30+ Former CFO of Airgain (NASDAQ: AIRG); Head of Europe. Leads global operations — Head of Americas.
Slide 24: Enterprise AI, realized.
Enterprise AI, Investor Relations Grid Dynamics Holdings, Inc. realized. 6101 Bollinger Canyon Road, STE 465 San Ramon, CA +1 650-523-5000 NASDAQ: GDYN info@griddynamics.com www.griddynamics.com Nasdaq: GDYN © 2026 Grid Dynamics Holdings, Inc. Grid Dynamics / Investor Deck Q2 2026
Slide 25: Appendix
Appendix Historical trend data — YoY Nasdaq: GDYN © 2026 Grid Dynamics Holdings, Inc. Grid Dynamics / Investor Deck Q4 & FY 2025
Slide 26: Grid Dynamics has become increasingly diversified
Grid Dynamics has become increasingly diversified Retail TMT Finance CPG H&P* Other 2025 28% 26% 25% 11% 7% 3% 2024 32% 27% 17% 12% 9% 3% 2023 33% 32% 9% 14% 4% 8% 2022 32% 32% 7% 20% 7% 2% 2021 32% 29% 8% 21% 9% 1% *H&P - Healthcare and Pharma 26 Nasdaq: GDYN © 2026 Grid Dynamics Holdings, Inc. Grid
Slide 27: Annual key metrics (historical)
Annual key metrics (historical) ($ in millions) Revenues Non-GAAP EBITDA (1) Non-GAAP net income (2) $411.8 $58.2 $52.5 $53.8 $38.2 $37.2 $350.6 $35.1 $310.5 $312.9 $44.2 $31.7 $39.1 $24.2 $211.3 89.9% 47.0% 0.8% 12.0% 17.5% 18.5% 18.7% 14.1% 15.0% 13.1% 11.4% 12.3% 10.1% 10.6% 8.5% 2021 2022 2023 2
Slide 28: Annual key metrics (historical)
Annual key metrics (historical) ($ in millions) #Customers > $1M revenues Customers concentration 53 50 48 48 39.6% 40.3% 43.9% 44.3% 42.3% 34 Rest 16.5% 16.2% Top 10 19.1% 17.6% 19.6% Top 5 43.9% 43.5% 37.0% 38.1% 38.1% 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 28 Nasdaq: GDYN © 2026 Grid D
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