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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 (NASDAQ:GDYN) announced a proposed underwritten public offering of $100 million in common stock, all to be sold by the company. An additional $15 million in shares may be available through a 30-day option for underwriters. The offering is subject to market conditions and is managed by J.P. Morgan Securities LLC and William Blair & Company, L.L.C. The offering will utilize an effective shelf registration statement, with no assurance on completion timing or terms. The company provides digital transformation services to Fortune 1000 companies.
Grid Dynamics announced the opening of a new operational center in Warsaw, Poland, marking its fourth location in the region. This expansion aims to recruit hundreds of engineers by the end of 2023, as demand for digital transformation solutions grows. The company, which now employs over 3,800 people globally, views Poland as a crucial tech hub, enhancing its ability to serve Fortune 1000 clients. CEO Leonard Livschitz emphasized the significance of this move in accessing a diverse talent pool to meet business needs.
Grid Dynamics announced that Knowde selected its experts to develop an advanced semantic search for its B2B digital marketplace, featuring over 160,000 chemical products. Utilizing a composable MACH architecture, Grid Dynamics launched the search platform in under six months, achieving a 30% increase in customer engagement. The new search capabilities include multi-stage concept-oriented search and query expansion with domain-specific knowledge graphs, tailored to meet the unique needs of the chemical industry.
Grid Dynamics reported a record revenue of $77.3 million for Q2 2022, marking a 62.2% increase year-over-year and an 8.3% sequential rise. This marks the eighth consecutive quarter of record revenue. The non-retail verticals contributed 67.1% of revenue, with notable growth in Technology, Media, and Telecom at 30.2% of revenue. Despite the revenue growth, the company faced a GAAP net loss of $(13.2 million), or $(0.20) per share. Looking ahead, revenue guidance for Q3 2022 is forecasted between $78.5 million and $80.0 million.
Grid Dynamics (NASDAQ:GDYN) will host a video conference call to discuss its Q2 2022 financial results on August 4, 2022, at 4:30 p.m. ET. An accompanying press release will precede the call. Investors can access the webcast through the Investor Relations section of their website. A replay will be available with a designated passcode. Grid Dynamics offers digital transformation services for Fortune 1000 companies, focusing on areas like big data analytics and cloud migration, leveraging global engineering talent.
Grid Dynamics (NASDAQ:GDYN) and selfologi, a Dubai-based cosmetic treatment platform, won the MACH Alliance Award for the Best Health/Pharma Project. As the lead digital technology consulting partner, Grid Dynamics collaborated with commercetools, Amplience, and Algolia to create a revolutionary transactional B2C and B2B marketplace. The selfologi platform allows consumers to discover and book cosmetic treatments online, showcasing over 300 practitioners and facilitating direct bookings. The project was developed in under a year, marking a significant achievement in the industry.
Grid Dynamics (NASDAQ:GDYN) has announced a strategic partnership with Secret Double Octopus to enhance its cybersecurity offerings. This collaboration aims to meet increasing demands for protection against cyber threats, focusing on passwordless authentication methods. With the rise of remote work, multifactor authentication is crucial, as McKinsey estimates that 20-25% of advanced economy workforces now work remotely several days a week. The partnership will provide enterprise customers with advanced security solutions to streamline workflows while mitigating cybersecurity risks.
Grid Dynamics has launched its Customer 360 analytics platform on the Microsoft Azure Marketplace, enhancing scalability, reliability, and agility for application development. This platform supports enterprises in managing large data volumes effectively, improving decision-making through automation and advanced analytics. The offering includes comprehensive blueprints and free workshops aimed at optimizing customer data management. This initiative aligns with the rising demand for digital transformation across industries, helping companies overcome data challenges and enhance business insights.
Grid Dynamics has joined the MACH Alliance, aimed at promoting digital technology adoption. Recognized for its complex integrations and contributions to digital commerce, Grid Dynamics was named Northern European Partner of the Year by commercetools in 2021. This partnership emphasizes their joint efforts in building customer relationships in the U.S. and EMEA markets. The collaboration is projected to enhance innovation in composable commerce technology and drive significant business benefits.
Grid Dynamics has launched operations in Hyderabad, India, aiming to tap into a robust talent pool for its global expansion. The company plans to hire 1,000 employees by the end of 2022. This strategic location provides access to skilled engineers and modern workspaces, enhancing its ability to serve Fortune 1000 clients. Additionally, Grid Dynamics is committed to promoting diversity through initiatives like Women Leaders in Technology. The growth strategy includes various hiring paths and potential acquisitions, strengthening its market presence and shareholder value.
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