GDYN on Nasdaq
Grid Dynamics Holdings
Logo: griddynamics.com4
Grid Dynamics Holdings is a global provider of AI, engineering, and technology consulting services, founded in 2006.1 It is headquartered in San Ramon.1 Its chief executive is Leonard Livschitz (since 2014).1 It employed 4,838 people in 2026.1 Its revenue was $412 million in 2025.1 Its shares trade on Nasdaq under the symbol GDYN.1
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Last updated Oct 21, 2026.
Overview
2006Founded1
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- TickerGDYN on Nasdaq1
- IndustryPrepackaged Software, information technology, information technology consulting1
- HeadquartersSan Ramon1
- Websitewww.griddynamics.com
- Legal formcorporation1
- Incorporated inDE5
- Business address6101 Bollinger Canyon Road, Suite 465, San Ramon, Ca 945835
- Filer categoryAccelerated filer5
- LEI9845007E77EEC65AZE293
- StatusActive3
- LEI statusIssued and current3
- Registered address251 LITTLE FALLS DRIVE, 19808 Wilmington, United States3
- Registered withDivision of Corporations, Department of State, 68948743
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Grid Dynamics Holdings, Inc. (“Grid Dynamics,” the “Company,” “we,” “us,” or “our”) is an Enterprise Artificial Intelligence (“AI”) transformation partner for the Fortune 1000. We combine deep AI expertise with proven enterprise-scale delivery to help clients identify where to invest in AI, deliver systems that work at scale, and capture real business value from AI deployments. The building blocks of AI have always been our foundation — distributed systems, real-time data, machine learning algorithms, and natural language processing. What has changed is that these capabilities have now converged into Enterprise AI.8 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
34.6%Gross margin9
-0.5%Operating margin9
2.3%Net margin9
17.5%Revenue growth, 20259
1.8%Return on equity9
$25.3MFree cash flow9
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Retail brought in 29% of the revenue Grid Dynamics Holdings broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Retail | $102.6M | $114.0M | $120.5M |
| Technology and telecommunications | $98.8M | $95.0M | $107.5M |
| Financial Service | $28.8M | $60.2M | $100.4M |
| Manufactured Product, Other | $42.9M | $40.5M | $43.1M |
| Product and Service, Other | $26.2M | $29.8M | $30.2M |
| Health Care | $13.7M | $11.1M | $10.2M |
Regions
North America brought in 35% of the revenue Grid Dynamics Holdings broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| North America | $239.0M | $279.2M | $289.4M |
| United States | $238.2M | $277.7M | $289.1M |
| Europe | $60.8M | $56.3M | $86.4M |
| Other Countries Not Separately Disclosed | $41.0M | $41.5M | $63.5M |
| United Kingdoms | $31.9M | $25.3M | $45.2M |
| Other Geographic Regions Not Individually Disclosed | $13.2M | $15.0M | $36.1M |
| PL | $1.9M | $6.0M | $14.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue65¢$269.5M
- Research and development6¢$23.7M
- Other costs25¢$103.0M
- Income tax1¢$6.0M
- Profit2¢$9.7M
Out of $411.8M in revenue.9
Where each dollar of operating cash went, fiscal 2025
- Capital spending38¢$15.3M
- Share buybacks5¢$2.0M
- Kept or used elsewhere57¢$23.3M
Out of $40.6M of cash from operations.9
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.9
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenues | $411.8M | $350.6M | $312.9M |
| Cost of revenues | $269.5M | $223.6M | $199.8M |
| Gross profit | $142.3M | $127.0M | $113.1M |
| Engineering, research, and development | $23.7M | $18.3M | $14.7M |
| Sales and marketing | $30.0M | $28.6M | $24.2M |
| General and administrative | $90.5M | $82.1M | $79.8M |
| Total operating expenses | $144.2M | $129.1M | $118.7M |
| Loss from operations | -$1.9M | -$2.1M | -$5.6M |
| Interest and other income, net | $17.6M | $13.2M | $10.4M |
| Income before income tax | $15.7M | $11.1M | $4.8M |
| Provision for income taxes | $6.0M | $7.0M | $6.6M |
| Net income/(loss) | $9.7M | $4.0M | -$1.8M |
| Basic (in dollars per share) | $0.11 | $0.05 | -$0.02 |
| Diluted (in dollars per share) | $0.11 | $0.05 | -$0.02 |
| Basic (in shares) | 84.5M shares | 77.5M shares | 75.2M shares |
| Diluted (in shares) | 86.9M shares | 80.0M shares | 75.2M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.9
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $342.1M | $334.7M | $257.2M |
| Trade receivable, net of allowance of $3,721, and $2,747 as of December 31, 2025 and December 31, 2024, respectively | $79.5M | $69.4M | |
| Prepaid expenses and other current assets | $18.0M | $19.3M | |
| Total current assets | $439.5M | $423.3M | |
| Property and equipment, net | $17.7M | $14.0M | |
| Operating lease right-of-use assets, net | $16.4M | $12.1M | |
| Intangible assets, net | $41.6M | $47.9M | |
| Goodwill | $84.4M | $83.4M | $53.9M |
| Deferred tax assets | $8.9M | $8.8M | |
| Other noncurrent assets | $4.5M | $2.7M | |
| Total assets | $612.9M | $592.2M | |
| Accounts payable | $3.7M | $4.1M | |
| Accrued compensation and benefits | $25.6M | $21.7M | |
| Operating lease liabilities, current | $6.3M | $5.4M | |
| Accrued expenses and other current liabilities | $16.6M | $24.4M | |
| Total current liabilities | $52.1M | $55.5M | |
| Deferred Income Tax Liabilities, Net | $7.9M | $8.9M | |
| Operating lease liabilities, noncurrent | $10.8M | $7.2M | |
| Contingent consideration payable, noncurrent | $0 | $2.7M | |
| Total liabilities | $70.8M | $74.4M | |
| Common stock, $0.0001 par value; 110,000,000 shares authorized; 84,842,637 and 83,608,819 issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $8.0K | $8.0K | |
| Additional paid-in capital | $545.2M | $532.6M | |
| Accumulated deficit | -$2.2M | -$11.8M | |
| Accumulated other comprehensive income/(loss) | $1.1M | -$2.9M | |
| Treasury stock | -$2.0M | $0 | |
| Total stockholders equity | $542.1M | $517.8M | |
| Total liabilities and stockholders equity | $612.9M | $592.2M | |
| Allowance for doubtful accounts | $3.7M | $2.7M | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 110.0M shares | 110.0M shares | |
| Common stock, shares issued (in shares) | 84.8M shares | 83.6M shares | |
| Common stock, shares outstanding (in shares) | 84.8M shares | 83.6M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $342.1M | $334.7M | $257.2M |
| Trade receivable, net of allowance of $3,721, and $2,747 as of December 31, 2025 and December 31, 2024, respectively | $79.5M | $69.4M | |
| Prepaid expenses and other current assets | $18.0M | $19.3M | |
| Total current assets | $439.5M | $423.3M | |
| Property and equipment, net | $17.7M | $14.0M | |
| Operating lease right-of-use assets, net | $16.4M | $12.1M | |
| Intangible assets, net | $41.6M | $47.9M | |
| Goodwill | $84.4M | $83.4M | $53.9M |
| Deferred tax assets | $8.9M | $8.8M | |
| Other noncurrent assets | $4.5M | $2.7M | |
| Total assets | $612.9M | $592.2M | |
| Accounts payable | $3.7M | $4.1M | |
| Accrued compensation and benefits | $25.6M | $21.7M | |
| Operating lease liabilities, current | $6.3M | $5.4M | |
| Accrued expenses and other current liabilities | $16.6M | $24.4M | |
| Total current liabilities | $52.1M | $55.5M | |
| Deferred Income Tax Liabilities, Net | $7.9M | $8.9M | |
| Operating lease liabilities, noncurrent | $10.8M | $7.2M | |
| Contingent consideration payable, noncurrent | $0 | $2.7M | |
| Total liabilities | $70.8M | $74.4M | |
| Common stock, $0.0001 par value; 110,000,000 shares authorized; 84,842,637 and 83,608,819 issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $8.0K | $8.0K | |
| Additional paid-in capital | $545.2M | $532.6M | |
| Accumulated deficit | -$2.2M | -$11.8M | |
| Accumulated other comprehensive income/(loss) | $1.1M | -$2.9M | |
| Treasury stock | -$2.0M | $0 | |
| Total stockholders equity | $542.1M | $517.8M | |
| Total liabilities and stockholders equity | $612.9M | $592.2M | |
| Allowance for doubtful accounts | $3.7M | $2.7M | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 110.0M shares | 110.0M shares | |
| Common stock, shares issued (in shares) | 84.8M shares | 83.6M shares | |
| Common stock, shares outstanding (in shares) | 84.8M shares | 83.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.9
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income/(loss) | $9.7M | $4.0M | -$1.8M |
| Depreciation and amortization | $19.7M | $14.2M | $8.9M |
| Operating lease right-of-use assets amortization expense | $5.1M | $4.5M | $3.2M |
| Bad debt expense | $1.0M | $2.3M | $945.0K |
| Stock-based compensation | $30.3M | $34.2M | $35.5M |
| Deferred income taxes | -$1.3M | -$4.0M | -$4.1M |
| Other income, net | -$6.9M | -$3.1M | -$3.9M |
| Trade receivable | -$11.1M | -$9.5M | $2.1M |
| Prepaid expenses and other assets | $544.0K | -$8.3M | -$511.0K |
| Accounts payable | -$378.0K | -$1.5M | -$538.0K |
| Accrued compensation and benefits | $4.0M | -$274.0K | $5.3M |
| Operating lease liabilities | -$5.0M | -$4.5M | -$3.1M |
| Income taxes, net | -$5.6M | $415.0K | -$1.8M |
| Accrued expenses and other current liabilities | $556.0K | $1.8M | $991.0K |
| Net cash provided by operating activities | $40.6M | $30.2M | $41.1M |
| Purchase of property and equipment | -$15.3M | -$11.8M | -$7.9M |
| Proceeds from sale of equity securities | $0 | $3.6M | $0 |
| Acquisition of business, net of cash acquired | $198.0K | -$43.1M | -$17.8M |
| Other investing activities, net | $0 | -$44.0K | -$250.0K |
| Net cash used in investing activities | -$15.1M | -$51.3M | -$25.9M |
| Proceeds from exercises of stock options | $469.0K | $2.3M | $510.0K |
| Payments of tax obligations resulted from net share settlement of vested stock awards | -$18.2M | -$8.7M | -$16.8M |
| Payments for repurchases of common stock | -$2.0M | $0 | $0 |
| Debt and equity issuance costs | -$253.0K | -$472.0K | $0 |
| Proceeds from common stock offering | $0 | $108.1M | $0 |
| Net cash (used in)/provided by financing activities | -$19.9M | $101.2M | -$16.3M |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | $1.4M | -$2.1M | $1.7M |
| Net increase in cash, cash equivalents, and restricted cash | $6.9M | $77.9M | $498.0K |
| Cash paid for income taxes, net of refunds | $12.4M | $11.0M | $12.4M |
No quarter-by-quarter statement was filed.
Corporate structure
Grid Dynamics Holdings sits at the top of its group. 28 entities, 15 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Grid Dynamics Holdings
- Alyeska Investment Group, L.P. Filed SCHEDULE 13G/A on Grid Dynamics Holdings, latest Aug 14, 2026 (4 filings since Nov 14, 2025)
- BlackRock Filed SCHEDULE 13G/A on Grid Dynamics Holdings, latest Jul 8, 2026 (5 filings since Feb 3, 2022)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Grid Dynamics Holdings, latest Mar 27, 2026 (3 filings since Feb 13, 2024)
- WASATCH ADVISORS LP Filed SCHEDULE 13G/A on Grid Dynamics Holdings, latest Nov 13, 2025 (6 filings since Feb 10, 2023)
- GDD International Holding Co Filed SC 13D/A on Grid Dynamics Holdings, latest Sep 16, 2024
- BAMCO INC /NY/ Filed SC 13G/A on Grid Dynamics Holdings, latest Feb 14, 2022
- WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC Filed SC 13G/A on Grid Dynamics Holdings, latest Feb 10, 2022
- Federated Hermes Filed SC 13G/A on Grid Dynamics Holdings, latest Oct 8, 2021
- Grid Dynamics Holdings San Ramon, California, United States
- Cometera Ukraine, LLC Subsidiary · Ukraine
- Congreve Computing Ltd. Subsidiary · United Kingdom
- GD AM, LLC Subsidiary · Armenia
- Grid Dynamics B.V. Subsidiary · Netherlands
- Grid Dynamics DOO Beograd – Vračar Subsidiary · Serbia
- Grid Dynamics International, LLC Subsidiary · Delaware, United States
- Grid Dynamics Israel Ltd. Subsidiary · Israel
- Grid Dynamics Jamaica Limited Subsidiary · Jamaica
- Grid Dynamics Mexico S. de R.L. de C.V. Subsidiary · Mexico
- Grid Dynamics Netherlands B.V. Subsidiary · Netherlands
- Grid Dynamics Poland Spolka z o.o. Subsidiary · Poland
- Grid Dynamics Private Limited Subsidiary · India
- Grid Dynamics Romania S.R.L. Subsidiary · Romania
- Grid Dynamics Services B.V. Subsidiary · Netherlands
- Grid Dynamics Singapore PTE Ltd. Subsidiary · Singapore
- Grid Dynamics Soft B.V. Subsidiary · Netherlands
- Grid Dynamics Switzerland GmbH Subsidiary · Switzerland
- Grid Dynamics UK Ltd. Subsidiary · United Kingdom
- Grid Dynamics Ukraine, LLC Subsidiary · Ukraine
- Headrunner Ltd. Subsidiary · United Kingdom
- JUXT LTD. Subsidiary · United Kingdom
- Mobile Computing S.A. Subsidiary · Argentina
- Mutual Mobile Inc. Subsidiary · Delaware, United States
- MutualMobile Solutions Private Limited Subsidiary · India
- Next Sphere Technologies Inc. Subsidiary · Florida, United States
- and 2 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Grid Dynamics Holdings reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, net | $17.7M9 Dec 31, 2025 | $14.0M9 Dec 31, 2024 | +26.0% |
| Operating-lease assets (leased space) | $16.4M9 Dec 31, 2025 | $12.1M9 Dec 31, 2024 | +35.3% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $342.1M9 Dec 31, 2025 | $334.7M9 Dec 31, 2024 | +2.2% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $84.4M9 Dec 31, 2025 | $83.4M9 Dec 31, 2024 | +1.1% |
| Finite-lived intangibles, gross | $62.5M9 Dec 31, 2025 | $61.1M9 Dec 31, 2024 | +2.2% |
| Accumulated amortization | $20.9M9 Dec 31, 2025 | $13.2M9 Dec 31, 2024 | +57.7% |
| Finite-lived intangibles, net | $41.6M9 Dec 31, 2025 | $47.9M9 Dec 31, 2024 | −13.2% |
Properties, in its own words
Facilities
Our principal executive office is located at 6101 Bollinger Canyon Rd, Suite 465, San Ramon, CA 94583. We currently provide our services through a network of 28 facilities in 14 countries including offices located in Plano, Texas and Tampa, Florida, U.S.; as well as Guadalajara, Mexico; Buenos Aires, Argentina; Yerevan in Armenia; Hyderabad, Chennai and Bangalore in India; Krakow, Gdansk, Warsaw and Wroclaw in Poland; Belgrade and Novi Sad in Serbia; Zug in Switzerland; various cities across Ukraine; Chisinau, Moldova; Amsterdam, the Netherlands; Kingston, Jamaica; London, the United Kingdom and Bucharest and Iasi, Romania. We do not own any real property. We believe that our existing facilities are adequate to support our current operations and that we have ample opportunities to expand office space to sustain expected growth.
Item 2 of the 10-K filed Mar 5, 2026.8
Leadership
Who has led Grid Dynamics Holdings, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerLloyd Carney Oct 4, 2018 to Oct 4, 201817
- Chief executive officerLeonard Livschitz 2014 to Oct 4, 201818
- Chief financial officerAnil Doradla Mar 16, 2020 to now19
- Chief financial officerEric Benhamou Oct 4, 2018 to Oct 4, 201820
- Chief operating officerYury Gryzlov Feb 17, 2021 to now21
Board members and other officers (15)
- Chief Technology OfficerMax Martynov Mar 16, 2020 to May 6, 202122
- VP of Corporate DevelopmentStan Klimoff Mar 16, 2020 to May 5, 202323
- SVP of EngineeringVadim Kozyrkov Mar 16, 2020 to Sep 15, 202124
- EVP of Customer SuccessVictoria Livshitz Mar 16, 2020 to Jun 15, 202125
- SVP of OperationsYury Gryzlov Mar 16, 2020 to May 6, 202026
- Board memberPatrick Nicolet Feb 25, 2022 to now27
- Board memberMarina Levinson Mar 16, 2020 to now28
- Board memberMichael Christopher Southworth Mar 16, 2020 to now29
- Board memberYueou Wang Mar 16, 2020 to now30
- Board memberLloyd Carney 2018 to now31
- Board memberClark Callander Oct 4, 2018 to Oct 4, 201832
- Board memberIrwin Federman Oct 4, 2018 to Oct 4, 201833
- Board memberWilliam Zerella Oct 4, 2018 to Oct 4, 201834
- Board memberEric Benhamou 2006 to now35
- Board memberLeonard Livschitz 2006 to now18
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Cometera Ukraine, LLC Ukraine6
- Congreve Computing Ltd. United Kingdom6
- GD AM, LLC Armenia6
- Grid Dynamics B.V. Netherlands6
- Grid Dynamics DOO Beograd – Vračar Serbia6
- Grid Dynamics International, LLC Delaware6
- Grid Dynamics Israel Ltd. Israel6
- Grid Dynamics Jamaica Limited Jamaica6
- Grid Dynamics Mexico S. de R.L. de C.V. Mexico6
- Grid Dynamics Netherlands B.V. Netherlands6
- Grid Dynamics Poland Spolka z o.o. Poland6
- Grid Dynamics Private Limited India6
- Grid Dynamics Romania S.R.L. Romania6
- Grid Dynamics Services B.V. Netherlands6
- Grid Dynamics Singapore PTE Ltd. Singapore6
- Grid Dynamics Soft B.V. Netherlands6
- Grid Dynamics Switzerland GmbH Switzerland6
- Grid Dynamics UK Ltd. United Kingdom6
- Grid Dynamics Ukraine, LLC Ukraine6
- Headrunner Ltd. United Kingdom6
- JUXT LTD. United Kingdom6
- Mobile Computing S.A. Argentina6
- Mutual Mobile Inc. Delaware6
- MutualMobile Solutions Private Limited India6
All 27 listed subsidiaries
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Employees over time
- 20264,8381
Former names
- ChaSerg Technology Acquisition CorpJun 15, 2018 to Mar 5, 20205
Timeline
- Jul 30, 20268-K Results of operations36
- Apr 30, 20268-K Results of operations37
- Mar 5, 20268-K Results of operations38
- Feb 27, 20268-K Bylaws or fiscal year changed39
- Dec 23, 20258-K Executive or director change; Shareholder vote40
- Nov 10, 20258-K Executive or director change41
- Oct 30, 20258-K Results of operations; Other events42
- Jul 31, 20258-K Results of operations43
- May 21, 20258-K Entered a material agreement; New debt or obligation44
- May 1, 20258-K Results of operations45
- Apr 15, 20258-K Entered a material agreement; New debt or obligation46
- Mar 17, 20258-K Entered a material agreement; New debt or obligation47
- 2020Went public Listed on NASDAQ1
- Oct 4, 2018New chief executive Lloyd Carney becomes CEO17
- 2014New chief executive Leonard Livschitz becomes CEO1
- 2006Founded Founded1
Calendar
Coming up
- Oct 29, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.02 a share, on Oct 30, 2025.48
When it reported results
- Jul 30, 2026Reported quarterly or annual results36
- Apr 30, 2026Reported quarterly or annual results37
- Mar 5, 2026Reported quarterly or annual results38
- Oct 30, 2025Reported quarterly or annual results42
- Jul 31, 2025Reported quarterly or annual results43
- May 1, 2025Reported quarterly or annual results45
- Feb 20, 2025Reported quarterly or annual results49
- Oct 31, 2024Reported quarterly or annual results50
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
545 filings to the SEC since October 2021: 10 annual reports, 15 quarterly reports, 39 major events, 306 insider forms, 22 large holders, 153 other. The latest 20:
- Oct 8, 2026144 EDGAR
- Oct 8, 20264 EDGAR
- Oct 5, 20264 EDGAR
- Oct 2, 2026144 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Sep 3, 2026144 EDGAR
- Sep 3, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 19, 20264 EDGAR
- Aug 18, 2026144 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 13, 2026144 EDGAR
- Aug 13, 20264 EDGAR
- Aug 10, 20264 EDGAR
- Aug 5, 2026EFFECT EDGAR
- Jul 30, 202610-Q EDGAR
The 545 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
130 open-market trades by officers, directors and large owners since October 2021: 3 buys and 127 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 3, 2026 | Gryzlov YuryCHIEF OPERATING OFFICER | Sale | 3,918 | $8.00 | $31.3K | Form 4 |
| Aug 18, 2026 | Gryzlov YuryCHIEF OPERATING OFFICER | Sale | 467 | $7.53 | $3.5K | Form 4 |
| Aug 13, 2026 | Gryzlov YuryCHIEF OPERATING OFFICER | Sale | 3,930 | $8.00 | $31.4K | Form 4 |
| Jul 2, 2026 | Gryzlov YuryCHIEF OPERATING OFFICER | Sale | 1,245 | $6.29 | $7.8K | Form 4 |
| Jun 1, 2026 | Gryzlov YuryCHIEF OPERATING OFFICER | Sale | 4,435 | $8.00 | $35.5K | Form 4 |
| May 15, 2026 | Gryzlov YuryCHIEF OPERATING OFFICER | Sale | 467 | $6.45 | $3.0K | Form 4 |
| Apr 2, 2026 | Gryzlov YuryCHIEF OPERATING OFFICER | Sale | 1,245 | $5.54 | $6.9K | Form 4 |
| Mar 10, 2026 | Gryzlov YuryCHIEF OPERATING OFFICER | Sale | 21,266 | $6.22 | $132.3K | Form 4 |
| Jan 20, 2026 | Livschitz LeonardCHIEF EXECUTIVE OFFICER | Sale | 10,000 | $9.00 | $90.0K | Form 4 |
| Jan 7, 2026 | Doradla AnilCHIEF FINANCIAL OFFICER | Sale | 2,000 | $10.00 | $20.0K | Form 4 |
| Jan 6, 2026 | Livschitz LeonardCHIEF EXECUTIVE OFFICER | Sale | 10,000 | $9.70 | $97.0K | Form 4 |
| Dec 23, 2025 | Livschitz LeonardCHIEF EXECUTIVE OFFICER | Sale | 10,000 | $9.33 | $93.3K | Form 4 |
| Dec 15, 2025 | Zhang ShuoDirector | Sale | 3,000 | $9.75 | $29.2K | Form 4 |
| Dec 9, 2025 | Livschitz LeonardCHIEF EXECUTIVE OFFICER | Sale | 10,000 | $9.70 | $97.0K | Form 4 |
| Dec 9, 2025 | Doradla AnilCHIEF FINANCIAL OFFICER | Sale | 4,368 | $10.00 | $43.7K | Form 4 |
| Dec 5, 2025 | Gryzlov YuryCHIEF OPERATING OFFICER | Sale | 25,000 | $9.66 | $241.5K | Form 4 |
| Dec 3, 2025 | Livschitz LeonardCHIEF EXECUTIVE OFFICER | Sale | 10,000 | $9.00 | $90.0K | Form 4 |
| Oct 31, 2025 | Gryzlov YuryCHIEF OPERATING OFFICER | Sale | 737 | $9.00 | $6.6K | Form 4 |
| Oct 31, 2025 | Livschitz LeonardCHIEF EXECUTIVE OFFICER | Sale | 10,000 | $9.00 | $90.0K | Form 4 |
| Aug 21, 2025 | Livschitz LeonardCHIEF EXECUTIVE OFFICER | Sale | 132 | $8.01 | $1.1K | Form 4 |
All 130 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Alyeska Investment Group, L.P.SCHEDULE 13G/A, 4 filings Nov 14, 2025 to Aug 14, 202651
- BlackRockSCHEDULE 13G/A, 5 filings Feb 3, 2022 to Jul 8, 202652
- VANGUARD GROUP INCSCHEDULE 13G/A, 3 filings Feb 13, 2024 to Mar 27, 202653
- WASATCH ADVISORS LPSCHEDULE 13G/A, 6 filings Feb 10, 2023 to Nov 13, 202554
- GDD International Holding CoSC 13D/A, 1 filing Sep 16, 202455
- BAMCO INC /NY/SC 13G/A, 1 filing Feb 14, 202256
- WILLIAM BLAIR INVESTMENT MANAGEMENT, LLCSC 13G/A, 1 filing Feb 10, 202257
- Federated HermesSC 13G/A, 1 filing Oct 8, 202158
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2024 | Leonard LivschitzChief Executive Officer | 59 | $800.0K | $26.3M59 |
| 2024 | Yury GryzlovChief Operating Officer and Chief Executive Officer of Grid Dynamics Europe | 42 | $442.8K | $3.3M59 |
| 2024 | Anil DoradlaChief Financial Officer | 56 | $320.0K | $2.7M59 |
| 2023 | Leonard LivschitzChief Executive Officer | 59 | $800.0K | $5.8M59 |
| 2023 | Yury GryzlovChief Operating Officer and Chief Executive Officer of Grid Dynamics Europe | 42 | $475.2K | $1.4M59 |
| 2023 | Anil DoradlaChief Financial Officer | 56 | $300.0K | $874.0K59 |
| 2022 | Leonard LivschitzChief Executive Officer | 59 | $733.3K | $24.7M59 |
| 2022 | Yury GryzlovChief Operating Officer and Chief Executive Officer of Grid Dynamics Europe | 42 | $369.5K | $3.5M59 |
| 2022 | Anil DoradlaChief Financial Officer | 56 | $300.0K | $3.3M59 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 6,676,591 | $37.9M | 0.0% | −5,105,910 |
| Alyeska Investment Group, L.P. | 6,066,193 | $34.5M | 0.1% | +811,380 |
| Bamco Inc /ny/ | 3,000,000 | $17.0M | 0.0% | −322 |
| Vanguard Capital Management LLC | 2,803,256 | $15.9M | 0.0% | −18,873 |
| Morgan Stanley | 2,421,745 | $13.8M | 0.0% | +551,988 |
| Vanguard Portfolio Management LLC | 2,153,933 | $12.2M | 0.0% | −626,020 |
| State Street Corp | 2,018,993 | $11.5M | 0.0% | −897,360 |
| Geode Capital Management, LLC | 1,756,994 | $10.0M | 0.0% | +147,269 |
| Federated Hermes, Inc. | 1,745,369 | $9.9M | 0.0% | +302,940 |
| Jacobs Levy Equity Management, Inc | 1,320,149 | $7.5M | 0.0% | +157,304 |
| Jane Street Group, LLC | 1,256,111 | $7.1M | 0.0% | New |
| Goldman Sachs Group Inc | 1,210,126 | $6.9M | 0.0% | +441,840 |
| Royal Bank Of Canada | 1,122,469 | $6.4M | 0.0% | −190,155 |
| Dimensional Fund Advisors LP | 1,107,519 | $6.3M | 0.0% | −292,690 |
| Millennium Management LLC | 1,087,719 | $6.2M | 0.0% | New |
| Ameriprise Financial Inc | 1,035,642 | $5.9M | 0.0% | +132,191 |
| Focus Partners Wealth | 1,027,656 | $5.8M | 0.0% | −8,760 |
| Northern Trust Corp | 991,744 | $5.6M | 0.0% | +227,696 |
| Riverbridge Partners LLC | 986,450 | $5.6M | 0.2% | −440,959 |
| CenterBook Partners LP | 825,343 | $4.7M | 0.2% | +40,465 |
| Charles Schwab Investment Management Inc | 746,371 | $4.2M | 0.0% | +99,352 |
| S Squared Technology, LLC | 636,737 | $3.6M | 1.1% | No change |
| Trexquant Investment LP | 614,081 | $3.5M | 0.0% | +190,306 |
| Susquehanna International Group, Llp | 595,077 | $3.4M | 0.0% | +476,628 |
| D. E. Shaw & Co., Inc. | 553,785 | $3.1M | 0.0% | −630,425 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Grid Dynamics Holdings is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARGRID DYNAMICS HOLDINGS, INC.2
- CIK0001743725
- Employer ID (EIN)83-06327248
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company8
- Incorporated inDelaware8
- Fiscal year endsDecember 312
- Industry code (SIC)7372 Services-Prepackaged Software2
- SEC reviewing officeOffice of Technology, Division of Corporation Finance2
- Business address6101 Bollinger Canyon Road, Suite 465, San Ramon, CA 945832
- Phone(650) 523-50002
- Shares outstanding81,126,881 as of Jul 24, 202615
- Public float$646.9M as of Jun 30, 20258
- AuditorGRANT THORNTON LLP, San Francisco, California PCAOB ID 248; it also attests to the company’s internal control over financial reporting8
- On EDGAR sinceJun 15, 20182
- Filings810 in all: 4 (413), 144 (125), 8-K (71), 10-Q (24), 3 (23), SC 13G/A (17), DEFA14A (13), SC 13G (13)2
All 42 form types
10-K (8), 424B5 (8), CORRESP (8), SCHEDULE 13G/A (8), UPLOAD (8), DEF 14A (7), EFFECT (7), 10-K/A (6), 424B3 (4), POS AM (4), 4/A (3), ARS (3), PRER14A (3), S-1 (3), S-1/A (3), SC 13D/A (3), SCHEDULE 13G (3), 25-NSE (2), RW (2), S-3ASR (2), S-8 (2), SC 13D (2), 10-Q/A (1), 424B4 (1), 8-A12B (1), CERT (1), D (1), DEFM14A (1), DEFR14A (1), DRS (1), DRS/A (1), DRSLTR (1), PREM14A (1), S-3 (1)
- Latest filingsAnnual report (10-K) Mar 5, 2026
Quarterly report (10-Q) Jul 30, 2026
Proxy statement (DEF 14A) Nov 10, 2025
Latest 8-K (8-K) Jul 30, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.0001 per share | GDYN | The NASDAQ Stock Market LLC |
From the cover page of the 10-K filed Mar 5, 2026 (Section 12(b) of the Exchange Act).8
Risk factors and legal proceedings
The risks Grid Dynamics Holdings names in Item 1A of its 10-K filed Mar 5, 2026: 55 risks under these headings, as written.8
- Risks Related to Our Business, Operations and Industry
- Risks Related to Our Use of Technology and Artificial Intelligence
- Risks Related to Our Acquisition Strategy
- Risks Related to Our Personnel
- Risks Related to Our Clients and Our Client Agreements
- Risks Related to Regulations, Legislation and Legal Proceedings
- Risks Related to Our Tax Treatment
- Risks Related to Our Financial Condition
- Risks Related to Intellectual Property
- Risks Related to Our Common Stock
- We operate in a rapidly evolving industry, which makes it difficult to evaluate future prospects and increases the risk that we will not continue to be successful and may adversely impact our stock price, financial condition and results of operations.
- We may be unable to effectively manage our growth or achieve anticipated growth, particularly as we expand into new geographies and industries, which could place significant strain on our management personnel, systems and resources.
The other 53 risks
- Our revenues have historically been highly dependent on a limited number of clients and industries, and accordingly any decrease in demand for outsourced services by these clients or in these industries may reduce our revenues and adversely affect our business, financial condition and results of operations.
- We have incurred net losses in recent years; accordingly, we may incur losses, even significant, in the future and we may not be able to generate sufficient revenue to maintain profitability.
- Macroeconomic conditions, inflationary pressures, economic downturns, and market volatility could adversely affect our operating results and growth prospects.
- Changes by the U.S. administration to fiscal, political, regulatory and other policies may adversely affect our business, financial condition and results of operations.
- Current and future geopolitical instability, in particular in geographies where we have personnel, such as Ukraine, could adversely affect our business, results of operations and financial condition.
- The impact of the military action in Ukraine, which has worsened in recent periods, has affected and may continue to affect our business.
- Our revenues are highly dependent on clients primarily located in the U.S. Any economic downturn in the U.S. or in other parts of the world, including Europe, or disruptions in the credit markets may have a material adverse effect on our business, financial condition and results of operations.
- We face intense competition.
- Damage to our reputation may adversely impact our ability to generate and retain business.
- If we are not able to maintain an effective system of internal control over financial reporting, particularly as we grow and expand into new geographies, investors could lose confidence in our financial reporting, which could harm our business and have an adverse effect on our stock price. We cannot provide assurances that material weaknesses, or significant deficiencies, will not occur in the future.
- Technologies, methodologies, and industry standards are rapidly changing on an accelerated basis; these changes, and our failure to adapt to them, may have a material adverse effect on our business, financial condition, and results of operations.
- Social and ethical issues relating to the extensive use of AI in our offerings may result in reputational harm or liability.
- Security breaches and incidents, system failures or errors, and other disruptions to our networks and systems could result in unauthorized access to, or the disclosure or other processing of, confidential information and expose us to liability, which would cause our business and reputation to suffer.
- Undetected software design defects, errors or failures may result in loss of business or in liabilities that could have a material adverse effect on our reputation, business and results of operations.
- We rely on software, hardware and SaaS technologies from third parties that may be difficult to replace or that may cause errors or defects in, or failures of, our services or solutions.
- Acquisitions could be difficult to identify, and could divert the attention of management, disrupt our business, dilute stockholder value and adversely affect our financial condition and results of operations, we may not achieve the financial and strategic goals that were contemplated at the time of a transaction, and we may be exposed to claims, liabilities and disputes as a result of the transaction that may adversely impact our business, operating results and financial condition.
- We face risks associated with integrating acquired businesses that, if realized, may adversely impact our business, operating results and financial condition.
- We face risks associated with the transparency, quality, and reliability of financial information of a business we acquire.
- Our failure to successfully attract, hire, develop, motivate and retain highly skilled personnel in the relevant regions could have a significant adverse effect on our business, financial condition, and results of operations.
- Our business operations may be severely disrupted if we lose the services of our senior executives and key employees.
- Increases in compensation expenses, including stock-based compensation expenses, could lower our profitability, and dilute our existing stockholders.
- Failing to successfully deliver contracted services or causing disruptions to clients’ businesses may have a material adverse effect on our reputation, business, financial condition and results of operations.
- We do not have long-term commitments from our clients, and our clients may terminate contracts before completion or choose not to renew contracts.
- Our profitability may suffer if we are unable to maintain our resource utilization and productivity levels.
- If we are unable to accurately estimate the cost of service or if we fail to maintain favorable pricing for our services, our contracts may be unprofitable.
- We face risks associated with the long selling and implementation cycle for our services that require significant resource commitments prior to realizing revenues for those services.
- Failure to obtain engagements for and effectively manage increasingly large and complex projects may have an adverse effect on our business, financial condition and results of operations.
- Existing insurance coverage and limitation of liability provisions in service contracts may be inadequate to protect us against losses.
- We are exposed to various risks related to the global regulatory environment as well as legal proceedings, claims and the like.
- Regulatory issues relating to the development and use of AI may adversely affect our business, financial condition, and results of operations.
- Restriction on immigration and the ability to obtain visas to travel may have an adverse effect on our business.
- Our global business, especially in CIS, CEE and Latin American countries, exposes us to significant legal, economic, tax and political risks.
- Failure to comply with laws and regulations relating to privacy, data protection, and cybersecurity could lead to government enforcement actions, private litigation and adverse publicity.
- We are subject to governmental export controls and trade and economic sanctions that could impair our ability to compete in international markets and subject us to liability if we are found to violate these controls.
- We are subject to anti-bribery, anti-corruption laws and anti-money laundering laws, our failure to comply with these and similar laws could subject us to penalties and other adverse consequences.
- Our subsidiaries in CEE countries can be forced into liquidation on the basis of formal noncompliance with certain legal requirements.
- Negative publicity about offshore outsourcing or anti-outsourcing legislation may have an adverse effect on our business.
- Our effective tax rate could be adversely affected by a variety of factors.
- There may be adverse tax and employment law consequences if the independent contractor status of some of our personnel or the exempt status of our employees is successfully challenged.
- Global mobility of employees may potentially create additional tax liabilities for us in different jurisdictions.
- Tax authorities may disagree with our positions and conclusions regarding certain tax positions, or may apply existing rules in an arbitrary or unforeseen manner, resulting in unanticipated costs, taxes or non-realization of expected benefits.
- Our business, financial condition and results of operations may be adversely affected by fluctuations in foreign currency exchange rates.
- Failure to collect receivables from, or bill for unbilled services to, clients may have a material adverse effect on our results of operations and cash flows.
- We may need additional capital and failure to raise additional capital on terms favorable to us, or at all, could limit our ability to grow our business and develop or enhance our service offerings to respond to market demand or competitive challenges.
- Our debt service obligations may adversely affect our financial condition and cash flows from operations.
- We may not be able to prevent unauthorized use of our intellectual property, and our intellectual property rights may not be adequate to protect our business, financial condition and results of operations.
- We may face intellectual property infringement claims that could be time-consuming and costly to defend and failure to defend against such claims may have a material adverse effect on our reputation, business, financial condition and results of operations.
- Our use of open source software, and our failure to comply with the terms of the underlying open source software licenses could negatively affect sales and create potential liability.
- Our bylaws limit the forum in which stockholders may bring a suit for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us.
- The price of our common stock continues to be volatile.
- As of December 31, 2025, approximately 23.8 percent of our outstanding common stock was held or beneficially owned by our executive officers and directors, or by stockholders controlled by our executive officers or directors.
- We do not currently intend to pay dividends on our common stock and, consequently, your ability to achieve a return on your investment will depend on appreciation in the price of our common stock.
- Our certificate of incorporation, bylaws and the DGCL contain certain provisions, including anti-takeover provisions, that limit the ability of stockholders to take certain actions and could delay or discourage takeover attempts that stockholders may consider favorable.
Legal proceedings
Although we are, from time to time, involved in litigation and claims arising out of our operations in the normal course of business, we are not currently a party to any material legal proceeding. In addition, we are not aware of any material legal or governmental proceedings against us or contemplated to be brought against us. Future litigation may be necessary, among other things, to defend us or our customers by determining the scope, enforceability and validity of third-party proprietary rights or to establish our proprietary rights. The results of any litigation cannot be predicted with certainty and, regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.
The opening of Item 3, Legal Proceedings.8
Links
- Websitewww.griddynamics.com1
- YouTubewww.youtube.com/channel/UCFX-U3YT1ANC907BzvhNn7Q1
- LinkedInwww.linkedin.com/company/grid-dynamics1
- WikidataQ140772884
- SEC EDGARCIK 1743725
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4Company websiteGrid Dynamics Holdings logo
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- 6
- 7Wikimedia CommonsGrid Dynamics Holdings photo by Cary Savas, CC BY-SA 4.0
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- 18Wikidata and SEC EDGARLeonard Livschitz, Chief executive officer
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- 23
- 24SEC EDGARVadim Kozyrkov, SVP of Engineering
- 25
- 26SEC EDGARYury Gryzlov, SVP of Operations
- 27SEC EDGARPatrick Nicolet, Board member
- 28SEC EDGARMarina Levinson, Board member
- 29
- 30SEC EDGARYueou Wang, Board member
- 31Wikidata and SEC EDGARLloyd Carney, Board member
- 32SEC EDGARClark Callander, Board member
- 33SEC EDGARIrwin Federman, Board member
- 34SEC EDGARWilliam Zerella, Board member
- 35Wikidata and SEC EDGAREric Benhamou, Board member
- 36SEC EDGARResults of operations
- 37SEC EDGARResults of operations
- 38SEC EDGARResults of operations
- 39SEC EDGARBylaws or fiscal year changed
- 40
- 41SEC EDGARExecutive or director change
- 42SEC EDGARResults of operations; Other events
- 43SEC EDGARResults of operations
- 44
- 45SEC EDGARResults of operations
- 46
- 47
- 48NasdaqNasdaq calendar
- 49
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