Grid Dynamics Reports Q2 2026 Earnings: Revenue Growth Exceeds Guidance
Grid Dynamics (GDYN) reported second-quarter revenue of $108.2 million, surpassing its guidance range and reflecting a 7% year-over-year increase. Non-GAAP EBITDA reached the high end of expectations at $14.7 million due to higher revenues and improved operating leverage. AI-related revenue accounted for 30.7% of total sales, growing by over 50% compared to last year as clients move from pilot programs to full-scale implementation. The TMT vertical led growth with a 36.4% increase in annual revenue due to vendor consolidation and expanded client relationships. The company reduced its overall headcount slightly while increasing U.S.-based employees for on-site consultancy needs. Grid Dynamics also maintained strong cash reserves at $298.4 million, though this declined from the previous quarter primarily due to share repurchases totaling 2.6 million shares. Looking ahead, the firm raised third-quarter revenue guidance and reaffirmed its full-year outlook between $435 million and $465 million for 2026.
Tickers: $GDYN
Topics: non-gaap_ebitda revenue vertical_growth