Grid Dynamics Holdings, Inc. - GDYN STOCK NEWS

Grid Dynamics (Nasdaq:GDYN) will host a video conference call at 4:30 p.m. ET on May 4, 2023, to discuss its first quarter 2023 financial results. The company will release these results prior to the call. Interested parties can access the webcast in the Investor Relations section of Grid Dynamics' website. A replay will also be available post-conference with the passcode $Q1@2023. Grid Dynamics focuses on enterprise-level digital transformation services, catering to Fortune 1000 companies with expertise in areas such as omnichannel customer experience, big data analytics, artificial intelligence, and cloud services. Headquartered in Silicon Valley, the company operates globally, emphasizing technology accelerators and agile delivery culture to enhance competitive advantage.

Grid Dynamics has launched a new Inventory Allocation Optimization Solution, developed in collaboration with Dataiku, aimed at enhancing supply chain efficiency for global companies. This solution is part of Grid Dynamics' suite of pre-packaged accelerators designed to streamline inventory management and analytics.

Key features include:

• Rapid establishment of inventory optimization capabilities
• Analytics-driven supply chain processes
• Support for multi-region and multi-market environments

The solution caters to the need for improved supply chain resilience in the post-COVID landscape, enabling companies to make data-driven decisions for better inventory management, ultimately reducing costs and enhancing customer satisfaction.

Grid Dynamics has been recognized as an AWS Data & Analytics Competency Partner, underscoring its capability in aiding clients with data management and analytics at scale. This represents the third AWS competency earned by Grid Dynamics, following the AWS DevOps and AWS Migration Competencies. With over 15 years of experience on AWS and more than 450 certifications, the company is strategically positioned to attract new clients amid growing demand for AWS services. The leadership emphasized their commitment to enhancing technical abilities to deliver successful projects, further solidifying their market presence.

Grid Dynamics has achieved recognition as an AWS Migration Services Competency Partner. This designation reflects Grid Dynamics' proven methodologies for migrating applications and legacy infrastructure to AWS, reducing risks and costs while enhancing speed to market. With a strong track record in AWS projects and over 450 AWS certifications, Grid Dynamics is positioned to attract new clients amid growing demand for AWS services. The company emphasizes its commitment to leveraging cloud-native solutions to deliver significant business value.

Grid Dynamics (Nasdaq:GDYN) reported fourth quarter revenue of $80.6 million, exceeding its previous guidance of $77-$78 million. This reflects a 21.1% year-over-year growth, although it saw a slight 0.7% sequential decline. The full-year revenue reached $310.5 million, marking a 47% increase compared to 2021. Despite these achievements, the GAAP net loss increased to $(6.7) million from $(3.6) million year-over-year. The company also pointed to a strong demand pipeline and the acquisition of Mutual Mobile, which enhances its digital transformation capabilities. Guidance for Q1 2023 estimates revenue between $78 million and $80 million.

Grid Dynamics (Nasdaq:GDYN) will host a video conference call on February 23, 2022, at 4:30 p.m. ET to discuss its fourth quarter and full year 2022 financial results. A press release detailing these results will be issued prior to the call.

The webcast can be accessed via the Investor Relations section of Grid Dynamics' website. A replay will be available post-call with a specific passcode.

Founded in 2006, Grid Dynamics specializes in digital transformation services for Fortune 1000 companies, offering solutions in areas such as big data analytics and artificial intelligence.

Grid Dynamics announced the acquisition of Mutual Mobile, expanding its digital transformation portfolio. As a leader in integrating technology and design, Mutual Mobile enhances Grid Dynamics' capabilities in mobile and mixed reality solutions. This acquisition aims to diversify Grid Dynamics' talent pool and reinforce its position in the global technology market. With a focus on high-demand verticals including Healthcare and Financial Services, this strategic move is expected to accelerate growth and innovate digital experiences for clients.

Grid Dynamics has launched a new Pricing and Promotion Optimization Starter Kit aimed at helping companies streamline pricing strategies on Microsoft Azure. This solution reduces costs, timelines, and risks in developing price management tools while maintaining flexibility through an open-source approach. By leveraging historical sales data and external factors, the kit enables intelligent pricing adjustments. Additionally, it helps Grid Dynamics attract new customers and deepen engagements with existing ones, enhancing operational efficiency and supporting cloud migration efforts.