Grid Dynamics Holdings, Inc. (GDYN) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everyone. Welcome to Grid Dynamics' first quarter 2026 earnings conference call. I'm Terry Savas, Director of Branding and Communications. At this time, our participants are in listen-only mode. Joining us on the call today are CEO Leonard Livschitz, CFO Anil Doradla, CTO Eugene Steinberg, and SVP Global Head of Partnerships and Marketing, Rahul Bindlish. Following the prepared remarks, We will open the call to your questions. Please note that today's conference call is being recorded. Before we begin, I'd like to remind everyone that today's discussion will contain forward-looking statements. This includes our business and financial outlook and the answers to some of your questions. Such statements are subject to the risks and uncertainty as described in the company's earnings release and other filings with the SEC. During this call, we will discuss certain non-GAAP measures of our performance. Thank you, Gary. Good afternoon everyone and thank you for joining us today. We started 2026 with solid execution, delivering Q1 revenue of $104.1 million that was higher than our guidance range and ahead of market expectations. This performance reflects continuous strengths in our business model and validates our focus on AI-led transformation and high-value enterprise engagements. Three trends stood out this quarter. A meaningful and growing contribution from AI revenue, a structural shift in vertical mix toward technology and financial services, and our top customers are undergoing meaningful vendor consolidation with Green Dynamics emerging as a clear beneficiary. Last quarter, we called 2026 a pivotal year for the accelerating adoption of our AI offerings. Our first quarter results support that conviction with AI revenue reaching 29.3% of total company re...