Grid Dynamics Reports 21.7% Revenue Growth to $101.1 Million in Q2 2025

Grid Dynamics Holdings, Inc. reported significant financial performance in its latest quarterly filing, with revenues reaching $101.1 million for the three months ended June 30, 2025, marking a 21.7% increase from $83.0 million in the same period last year. For the first half of 2025, total revenues amounted to $201.5 million, up 23.7% from $162.9 million in the prior year. The company achieved a net income of $5.3 million, a notable recovery from a net loss of $0.8 million in the second quarter of 2024, while year-to-date net income reached $8.2 million compared to a loss of $4.8 million in the previous year.

The company’s gross profit for the second quarter was $34.5 million, reflecting a gross margin of 34.1%, down from 35.6% in the prior year. Despite this decline, the gross profit for the first half of 2025 increased to $71.5 million, with a year-to-date gross margin of 35.5%, slightly up from 35.1% in 2024. Operating expenses also rose, totaling $34.6 million for the second quarter, driven by increased investments in engineering, research, and development, which surged by 63.4% year-over-year.

Grid Dynamics has made strategic advancements, including the acquisition of Mobile Computing and JUXT, which have expanded its client portfolio and enhanced its capabilities in digital product co-creation and user experience services. The company reported that these acquisitions contributed to its revenue growth, particularly in the Finance and Retail verticals, which saw substantial increases in demand. The total number of customers decreased slightly to 211 from 220 a year ago, indicating a focus on deepening existing relationships rather than expanding the customer base.

Operationally, Grid Dynamics reported a total employee count of 5,013 as of June 30, 2025, up from 3,961 a year earlier, reflecting its growth strategy and the integration of new personnel from acquisitions. The company continues to monitor geopolitical risks, particularly related to the ongoing military actions in Ukraine, which could impact its operations and delivery capabilities. Grid Dynamics remains committed to adapting its business continuity plans to ensure service delivery and personnel safety.

Looking ahead, Grid Dynamics anticipates continued revenue growth driven by its strategic investments and market demand for its services. The company is focused on maintaining its competitive edge through innovation and expanding its presence in key markets, while also managing operational costs and enhancing profitability. The outlook remains cautiously optimistic, with expectations of sustained performance improvements in the coming quarters.