Grid Dynamics — Third Quarter 2026 Earnings Summary

Grid Dynamics reported record third-quarter 2026 revenues of $114.3 million, exceeding its guidance range and representing a 9.7% year-over-year increase. The company achieved a 40% gross margin and a 20% non-GAAP EBITDA margin, with AI-related revenues accounting for 31% of the total. The Technology, Media and Telecom vertical served as the primary growth driver, contributing 32.3% of revenues, while the company also repurchased 5.3 million shares during the first nine months of the year. Looking ahead, Grid Dynamics forecasts fourth-quarter revenues between $113.5 million and $115.5 million with non-GAAP EBITDA expected to range from $20.0 million to $22.0 million.