Grid Dynamics Holdings Inc (NAS:GDYN)
$ 16.02 0.4 (2.56%) Market Cap: 1.23 Bil Enterprise Value: 981.36 Mil PE Ratio: 534.00 PB Ratio: 3.07 GF Score: 83/100

Q3 2024 Grid Dynamics Holdings Inc Earnings Call Transcript

Oct 31, 2024 / 08:30 PM GMT
Release Date Price: $15.92 (-0.06%)

Key Points

Positve
  • Grid Dynamics Holdings Inc (GDYN) reported record revenue and profitability, exceeding both guidance and Wall Street expectations.
  • The company achieved a record billable engineering headcount, indicating strong demand and operational capacity.
  • Recent acquisitions, including Argentina-based Mobile Computing and UK-based Jux, are expected to generate immediate synergies and enhance industry expertise.
  • The company has expanded its AI portfolio with over 30 service offerings, showing significant traction and a 50% increase in AI opportunities.
  • Strategic partnerships, particularly with hyperscalers, have contributed to 18% of total revenue, showcasing successful collaboration and growth potential.
Negative
  • The company's cash and cash equivalents decreased from $256 million in Q2 2024 to $231.3 million in Q3 2024.
  • There was a decline in the number of customers from 224 in the year-ago quarter to 201, due to efforts to rationalize nonstrategic customers.
  • Healthcare and pharma verticals saw a significant decrease in revenue, down 20.5% sequentially and 26.9% year-over-year.
  • The company faces challenges in maintaining stable pricing amidst demand headwinds in the services industry.
  • There is uncertainty regarding the impact of new acquisitions on Q4 revenue, with potential variability in expected synergies.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GDYN.OQ - Grid Dynamics Holdings Inc
Q3 2024 Grid Dynamics Holdings Inc Earnings Call
Oct 31, 2024 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, everyone. Welcome to Grid Dynamics third quarter, 2024 earnings conference call.

I'm Carrie Savis, Director of branding and Communications.

At this time, our participants are in listen-only mode.

Joining us on the call today are CEO Leonard Lipshitz CFO Anil Deraa and Co Yuri Grisel. Following the prepared remarks, we will open up the call to your questions.

Please note that today's conference is being recorded before we begin. I would like to remind everyone that today's discussion will contain forward-looking statements. This includes our business in a financial outlook and the answers to some of your questions. Such statements are subject to the risks and
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