GRID DYNAMICS HOLDINGS, INC.
For the period ended Sep 30, 2025. Filed Oct 30, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 30, 2025
GDYN$14.06+5.7%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net income/(loss) | $9,362 | $(483) |
| Adjustments to reconcile net income/(loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 14,629 | 9,579 |
| Operating lease right-of-use assets amortization expense | 3,787 | 3,301 |
| Bad debt expense | 847 | 1,077 |
| Stock-based compensation | 23,816 | 25,969 |
| Deferred income taxes | (186) | (1,516) |
| Change in fair value of contingent consideration | (6,876) | — |
| Other (income)/expenses, net | 37 | (890) |
| Changes in assets and liabilities: | ||
| Trade receivable | (14,376) | (9,676) |
| Prepaid expenses and other assets | 726 | (2,894) |
| Accounts payable | 1,495 | (740) |
| Accrued compensation and benefits | 6,993 | 3,293 |
| Operating lease liabilities | (3,767) | (3,352) |
| Income taxes, net | (6,655) | (1,503) |
| Accrued expenses and other liabilities | 872 | 965 |
| Net cash provided by operating activities | 30,704 | 23,130 |
| Cash flows from investing activities | ||
| Purchase of property and equipment | (11,537) | (9,126) |
| Acquisition of business, net of cash acquired | 198 | (32,144) |
| Other investing activities, net | — | (44) |
| Net cash used in investing activities | (11,339) | (41,314) |
| Cash flows from financing activities | ||
| Proceeds from exercises of stock options, net of shares withheld for taxes | 469 | 867 |
| Payments of tax obligations resulting from net share settlement of vested stock awards | (17,700) | (8,635) |
| Payment of debt issuance cost | (253) | — |
| Net cash used in financing activities | (17,484) | (7,768) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 1,517 | (14) |
| Net increase/(decrease) in cash, cash equivalents and restricted cash | 3,398 | (25,966) |
| Cash, cash equivalents and restricted cash, beginning of period | 335,155 | 257,227 |
| Cash, cash equivalents and restricted cash, end of period | $338,553 | $231,261 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for income taxes | $9,854 | $8,993 |
| Supplemental disclosure of non-cash activities | ||
| Acquisition fair value of contingent consideration issued for acquisition of business | — | 7,480 |
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets:
| As of | ||
|---|---|---|
| September 30,2025 | December 31,2024 | |
| Balance sheet classification | ||
| Cash and cash equivalents | $338,553 | $334,655 |
| Restricted cash in Prepaid expenses and other current assets | — | 500 |
| Total cash, cash equivalents and restricted cash | $338,553 | $335,155 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.