Key Highlights

  • Grid Dynamics will report third-quarter 2026 results on Thursday 29 October 2026, with a call at 4:30 p.m. Eastern Time.
  • Second-quarter Revenue was $108.2 million, up 7.0% year on year, and AI-related revenue reached 30.7% of the total.
  • Third-quarter guidance is revenue of $112.0 million to $114.0 million and non-GAAP EBITDA of $16.5 million to $17.5 million.

A dated catalyst on Thursday

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) will report third-quarter 2026 results on Thursday 29 October 2026. According to the company's notice, a results release will be available on its website before a video conference call at 4:30 p.m. Eastern Time. Because the figures are not yet public, this article examines the second-quarter report from 30 July 2026 and the guidance management set.

Second-quarter baseline

Revenue for the quarter ended 30 June 2026 was $108.2 million, up 7.0% year on year and 3.9% sequentially. GAAP gross Margin was 36.6%, compared with 34.1% a year earlier, and non-GAAP gross margin was 36.9%.

GAAP Net Income was $2.9 million, or $0.03 per diluted share, down from $5.3 million. Non-GAAP net income rose to $9.0 million, or $0.11 per share, and non-GAAP EBITDA was $14.7 million, against $12.7 million a year earlier. The gap between the GAAP and non-GAAP profit measures is detailed in the reconciliation tables.

Profit trends therefore look better on the adjusted measure than on the statutory one, which is why both deserve attention.

AI mix, Balance Sheet and headcount

The company said AI-related revenue reached 30.7% of total revenue, its highest share to date. Cash and cash equivalents were $298.4 million at 30 June, down from $342.1 million at the end of 2025, while Operating Cash Flow for the first half was $14.5 million, compared with $23.7 million a year earlier.

Headcount was 4,838, down from 5,013 a year earlier. Diluted weighted-average shares fell to 83.0 million from 86.4 million. Revenue grew 7.0% while headcount fell about 3.5%, so revenue per employee improved, a simple measure of productivity that Thursday's update may extend.

Guidance to measure against

For the third quarter, management guided to revenue of $112.0 million to $114.0 million, non-GAAP EBITDA of $16.5 million to $17.5 million and a diluted share count of 83 million to 84 million. For full-year 2026 it guided to revenue of $435.0 million to $465.0 million. These are forecasts, not reported results.

The full-year range is wide, at $30 million between the ends, so Thursday's update will show whether the company narrows it.

What to watch

Reference points on Thursday include sequential revenue growth, the AI share of revenue, gross margin, the cash balance relative to the $298.4 million reported at 30 June, and any change to the full-year range.