Grid Dynamics(US:GDYN)2021-05-07 18:12Company Overview - Grid Dynamics is a technology consulting, agile custom software development, and data analytics provider for Fortune 1000 corporations undergoing digital transformation[5] - The company's Q1 2021 revenue was $39.1 million, with expectations of $40.5 million to $42 million for Q2 2021[8] - The company expects FY 2021 revenue to be $165 million[8] - The company has 2056 employees[9] and 60.2 million diluted shares outstanding[8, 11] Financial Performance - Q1 2021 revenue increased by 30% sequentially and 21% year-over-year[63] - GAAP gross profit for Q1 2021 was $15.3 million, representing 39% of revenue[63] - Non-GAAP gross profit for Q1 2021 was $15.4 million, representing 39% of revenue[64] - Non-GAAP EBITDA for Q1 2021 was $5.3 million, representing 13.4% of revenue[62] Client and Market Diversification - In Q1 2021, Technology, Media, and Telecom (TMT) accounted for 37% of revenue, Retail 23%, Finance 12%, CPG 22%, and Other 9%[47] - The company's revenue growth strategy focuses on mature clients (>2 years relationship) contributing 85%, emerging clients (1-2 years) contributing 10%, and new logos contributing 5%[55]