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Grid Dynamics Holdings, Inc. (NASDAQ: GDYN) is a premier engineering IT services company specializing in transformative, mission-critical cloud solutions tailored for the retail, finance, and technology sectors. Founded in 2006, and headquartered in San Ramon, California, Grid Dynamics boasts a global presence with offices across the US and Eastern Europe. The company is renowned for its expertise in big data analytics, scalable omnichannel services, DevOps, and cloud enablement.
Grid Dynamics is celebrated for architecting some of the busiest e-commerce platforms on the internet with unparalleled reliability, ensuring no outages during peak seasons. Their core business revolves around providing enterprise-level digital transformation services, including omnichannel customer experience, big data, analytics, artificial intelligence, cloud and DevOps, and application modernization. These services are delivered to Fortune 1000 companies, predominantly within the retail sector, generating substantial revenue primarily from North America and Europe.
Recent achievements highlight Grid Dynamics' leadership in digital transformation. A notable collaboration with Yieldmo introduced an advanced machine learning (ML) platform that optimizes ad campaign delivery and performance. This platform leverages high scalability, rapid feature deployment, and low maintenance requirements, underscoring Grid Dynamics' innovative capabilities in the adtech domain.
Additionally, Grid Dynamics has been recognized as an AWS Well-Architected Partner, reflecting their proficiency in constructing secure, high-performing, and efficient infrastructure on AWS. This status enhances their ability to offer robust digital commerce solutions, leveraging advanced data, analytics, and AI to improve customer experiences.
Grid Dynamics' commitment to excellence is reflected in their collaborative engineering culture, where highly skilled engineers and scientists work together to tackle complex problems, driving innovation and quality. Their ongoing projects and strategic partnerships continue to position them as a leader in the digital transformation landscape, fostering growth and competitive advantage for their clients.
For more detailed information, visit www.griddynamics.com.
Grid Dynamics Holdings (Nasdaq: GDYN), a leading provider of enterprise-level digital transformation services, will announce its Q2 2024 financial results on August 1, 2024. The company will host a video conference call at 4:30 p.m. ET on the same day to discuss these results. The financial results press release will be issued beforehand. Investors can access the webcast and its replay in the Investor Relations section of Grid Dynamics' website using the passcode: $Q2@2024.
Grid Dynamics Holdings (NASDAQ: GDYN) has unveiled its AI for Developer Productivity Toolkit, designed to accelerate software development processes and modernize legacy projects. The toolkit includes three specialized tools: AI Application Modernization, AI Test Automation, and AI Assistant for Cloud Observability. These tools provide advanced automation capabilities, outperforming general-purpose GenAI coding copilots. The AI Application Modernization tool conducts architectural analysis and generates specifications for legacy applications. The AI Test Automation tool creates functional test cases and automation code by analyzing business logic. The AI Assistant for Cloud Observability enables natural language querying for cloud data, enhancing site reliability engineers' productivity. These tools are pluggable and can integrate with major LLM service providers. Grid Dynamics emphasizes that these purpose-built tools offer significant productivity gains and are part of the company's GigaCube growth strategy.
Grid Dynamics Holdings has secured two MACH Impact Awards for Best Retail Project and Best Overall Change Project. This recognition came at the MACH THREE conference in New York City, held on June 17-18, 2024. The awards underscore Grid Dynamics' expertise in Microservices, API-first development, Cloud-native solutions, and Headless architecture (MACH) technology. The company was honored for its work with Clarks, a global footwear brand, highlighting their capability to deliver complex, composable commerce solutions within tight deadlines. The awards validate Grid Dynamics' role in successfully modernizing Clarks' digital systems with future-proof, flexible, and scalable technology. This achievement is part of Grid Dynamics' broader commitment to setting benchmarks in digital transformation and supporting its GigaCube growth strategy.
Grid Dynamics (NASDAQ: GDYN) has launched a Composable Commerce Help Desk Starter Kit, tailored to replace legacy customer support systems with modern, composable architectures. This minimum viable product (MVP) can be deployed within 1-2 months, enhancing customer support capabilities by managing profiles, processing refunds, and addressing various order-related issues. It integrates seamlessly with commercetools and adheres to MACH architecture principles, offering flexibility, better customer interaction, and streamlined support. The starter kit aims to provide a scalable, future-proof solution that meets the sophisticated demands of modern customers while driving operational efficiency and business value.
Grid Dynamics (NASDAQ: GDYN) and ASICS Digital have won the Most Innovative Project at the 2024 Contentstack Experience Awards (CXA). This award acknowledges their collaborative work in overhauling a legacy content setup within a tight five-month timeline. The project involved significant technological advancements, including the design of 13 custom SEO extensions, content propagation across 32 locales, and CTA label localization. The innovative content setup performed flawlessly during Black Friday. The award was announced at ContentCon2024, Contentstack's annual customer conference in Austin, TX.
Grid Dynamics (NASDAQ: GDYN), a leader in technology consulting and AI services, has achieved the Amazon Web Services (AWS) Machine Learning Competency. This indicates their expertise in deploying ML-enabled workloads on AWS, which helps clients optimize operations and improve decision-making. The company offers tailored solutions that foster innovation and enhance customer experiences across various industries, including manufacturing, e-commerce, and insurance. This designation validates Grid Dynamics' ability to deliver cutting-edge data science solutions, maximizing AWS services to solve business problems with AI. Their Machine Learning Platform Starter Kit for AWS helps clients build production-ready, cloud-native ML platforms quickly, reducing operational costs and accelerating time-to-market.
Grid Dynamics Holdings, Inc. reported first quarter 2024 revenue of $79.8 million, exceeding expectations. The Retail and TMT verticals were the largest revenue contributors. The Finance vertical saw significant growth. The company highlighted its track record of success and industry recognition. Financially, GAAP net loss was $3.9 million, and non-GAAP net income was $5.2 million. Cash provided by operating activities decreased, but cash and cash equivalents remained stable. The company expects revenue and non-GAAP EBITDA to increase in the second quarter of 2024.
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