Financial Data and Key Metrics Changes - The fourth quarter revenue was $78.1 million, slightly above guidance and Wall Street expectations, with a sequential growth of 0.8% but a year-over-year decline of 3.1% [24] - Non-GAAP net income for the fourth quarter was $5.7 million, or $0.07 per share, compared to $5.9 million, or $0.08 per share in the previous quarter [9] - GAAP net income in the fourth quarter totaled $2.9 million, or $0.04 per share, an increase from $0.7 million, or $0.01 per share in the third quarter [78] Business Line Data and Key Metrics Changes - The Retail segment, the largest vertical, represented 31.5% of revenues, decreasing by 7.4% sequentially and 4.2% year-over-year [75] - The Finance vertical represented 10.6% of revenue, increasing by 13.4% sequentially and 32.6% year-over-year, driven by financial technology customers and new logos [47] - The Other segment accounted for 14.5% of fourth quarter revenue, up 11.5% sequentially, driven by strength in healthcare and restaurant industries [25] Market Data and Key Metrics Changes - Revenue from the top five customers was 39.7%, down from 43.2% year-over-year, indicating greater diversification [30] - The company serves customers across 18 countries, with a focus on expanding its presence in India, Poland, and Romania [29][43] - The demand environment is improving, with customers either maintaining or moderately increasing their spending [18] Company Strategy and Development Direction - The GigaCube strategy aims for a billion-dollar revenue target, focusing on knowledge management, partnerships, new verticals, and larger deals [44] - The company is investing in AI capabilities, with over 25% of engineers trained in generative AI, reflecting a commitment to enhancing service offerings [17] - Partnerships contributed 13% of overall revenue in 2023, with a focus on capturing greater wallet share from hyperscalers and SaaS companies [72] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to positive momentum, particularly with new enterprise logos and existing customer trends [4] - The company anticipates a rebound in growth, with Q2 expected to be a new high watermark for revenue [82] - The macro environment is stabilizing, with a reduction in revenue headwinds from large existing customers expected in 2024 [41] Other Important Information - Cash and cash equivalents totaled $257.2 million at the end of Q4, up from $253.7 million in the previous quarter [50] - The company is focused on maintaining a lower growth rate in operating expenses compared to revenue growth [93] Q&A Session Summary Question: Visibility on second quarter performance - Management expects Q2 to be a new high watermark in revenue, indicating optimism about recovery [82] Question: Headcount growth and demand recovery - Headcount growth is seen as a sign of future demand recovery, particularly in India [86] Question: Changes in sales strategy for 2024 - The company plans to balance efforts between expanding existing client relationships and acquiring new logos [88] Question: Contribution from partnerships in 2024 - Partnerships are expected to continue contributing significantly, with a focus on becoming an advisory partner [107][109] Question: Update on capital allocation - The focus is on M&A and cash generation, with an emphasis on developing AI skills [111][112] Question: AI-related metrics and demand - There is significant activity in AI projects, with many new engagements incorporating AI components [114][135]

Exhibit 99.1 Grid Dynamics Reports Fourth Quarter and Full Year 2023 Financial Results Fourth Quarter Revenue of $78.1 million and Full Year Revenue of $312.9 million San Ramon Calif. – February 22, 2024 – Grid Dynamics Holdings, Inc. (NASDAQ: GDYN) ("Grid Dynamics", "the Company"), a leader in enterprise-level digital transformation, today announced results for its fourth quarter and full year ended December 31, 2023. We are very pleased to report revenue of $78.1 million in the fourth quarter 2023 that wa ...

Armenia Yerevan Israel Global Delivery Capabilities with focus on Talents from Central Europe, India, Mexico, and US ・ Partnered with top universities and established internship programs Rest of World 14% Americas 14% Our unique DNA elevates Grid Dynamics as a strategic partner at Global Enterprises across industry verticals Grid Dynamics Offerings Digital Innovation Partner for NASDAQ: GDYN © 2023 Grid Dynamics Holdings, Inc. All Rights Reserved. Grid Dynamics / Investor Presentation Q3 2023 (1) The Forres ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38685 Grid Dynamics Holdings, Inc. (Exact Name of Registrant as Specified in its Charter) | Delaware | 83 ...

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Q2 2023 Earnings Conference Call August 3, 2023 4:30 PM ET Company Participants Bin Chiang - Head of IR Leonard Livschitz - CEO Anil Doradla - CFO Conference Call Participants Puneet Jain - JPMorgan Josh Siegler - Cantor Fitzgerald Maggie Nolan - William Blair Bryan Bergin - TD Cowen Ryan Potter - Citigroup Mayank Tandon - Needham Bin Chiang Good afternoon, everyone. Welcome to Grid Dynamics Second Quarter 2023 Earnings Conference Call. I'm Bin Chiang, Head o ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) | Name of each exchange on which reg ...

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Q1 2023 Earnings Conference Call May 4, 2023 4:30 PM ET Company Participants Bin Jiang - Head of Investor Relations Leonard Livschitz - Chief Executive Officer and Director Anil Doradla - Chief Financial Officer Conference Call Participants Joshua Siegler - Cantor Fitzgerald Mayank Tandon - Needham & Company Puneet Jain - JPMorgan Bryan Bergin - TD Cowen Ryan Potter - Citi Kathleen Kronstein - William Blair Bin Jiang Good afternoon, everyone. Welcome to Grid Dynami ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38685 Grid Dynamics Holdings, Inc. (Exact Name of Registrant as Specified in its Charter) | Delaware | 83-063 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K ________________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38685 ________________________________________________________________ Grid Dyna ...

Financial Data and Key Metrics Changes - In Q4 2022, the company's revenue was $80.6 million, exceeding guidance of $77 million to $78 million, representing a year-over-year growth of 21.1% and a sequential decline of 0.7% [21][28] - Non-GAAP EBITDA for Q4 was $16.5 million, or 20.4%, down from 21.1% in Q3 but up from 17.4% in the year-ago quarter [27][34] - The GAAP net loss for Q4 was $6.7 million, or $0.09 per share, consistent with Q3 but worse than a loss of $3.7 million, or $0.05 per share, in the year-ago quarter [28][34] Business Line Data and Key Metrics Changes - The Technology, Media, and Telecommunications (TMT) segment represented 33.7% of Q4 revenues, growing 3.1% sequentially and 38.8% year-over-year [22] - The Retail segment accounted for 31.8% of revenues, with a sequential growth of 1.6% and a year-over-year increase of 17.4% [22] - Consumer Packaged Goods (CPG) and Manufacturing represented 17.5% of revenue, decreasing by 12.3% sequentially but growing 3.4% year-over-year [23] Market Data and Key Metrics Changes - The company added 13 new enterprise customers in Q4, marking the highest number of new logos in its history [124] - The total customer count increased to 218 in Q4, up from 200 in Q3 [25] - The concentration of revenue from the top five customers was 43.2%, slightly down from 44.5% in Q3, while the top ten customers accounted for 60.4% of revenue [26] Company Strategy and Development Direction - The company introduced the Giga Cube initiative, aiming for $1 billion in revenue by focusing on three industry verticals: life sciences and pharma, financial services and insurance, and industrial and manufacturing [10][120] - The company is enhancing its consulting capabilities by hiring subject matter experts in selected industries to improve positioning with existing customers [16] - The company is focusing on partnerships with major players like Amazon AWS to enhance lead generation and service delivery [9] Management's Comments on Operating Environment and Future Outlook - Management noted a cautious outlook due to budget scrutiny and demand softness across clients, but expressed optimism about new client engagements and the potential for growth [4][15] - The company believes it is well-positioned to benefit from economic downturns, citing a robust pipeline of new client engagements [110] - Management highlighted the importance of delivering value to clients as they rationalize their IT service partners [119] Other Important Information - The company completed the acquisition of Mutual Mobile, which added 175 skilled employees and is expected to enhance cross-selling opportunities [127] - The company has seen a significant increase in headcount in Europe, with a tripling of staff in Poland, Serbia, and Armenia over the past year [8] Q&A Session Summary Question: How has the company achieved significant new logo growth and what does the current pipeline look like for 2023? - Management indicated that a robust pipeline exists, with a focus on M&A and growth initiatives to support the $1 billion revenue goal [38][39] Question: How is the capital allocation strategy evolving, particularly regarding M&A? - Management confirmed that the company is considering increasing the pace of M&A, leveraging its cash reserves for strategic acquisitions [45] Question: What trends are being observed in buying conversations and decision-making delays? - Management noted that while there is some softness in client spending, they remain optimistic about new client contributions and overall growth [48] Question: How much subject matter expertise is already in-house versus the need to hire externally? - Management stated that existing staff possess significant expertise, but there is a need for additional hires to deepen capabilities in targeted verticals [49] Question: What is the current state of employee relocation and client delivery teams? - Management reported that the transition of employees is largely complete, and client delivery teams are operating effectively [56] Question: How does the company view the pricing environment and delivery times compared to last year? - Management acknowledged wage inflation but emphasized their strategic approach to pricing and the quality of service delivery [61][98]