GRID DYNAMICS HOLDINGS, INC.
For the period ended Sep 30, 2026. Filed Oct 30, 2026.
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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, 2026 · Filed Oct 30, 2026
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, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net income | $7,543 | $9,362 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 16,381 | 14,629 |
| Operating lease right-of-use assets amortization expense | 4,146 | 3,787 |
| Bad debt expense | 838 | 847 |
| Stock-based compensation | 18,192 | 23,816 |
| Deferred income taxes | (1,567) | (186) |
| Other income, net | (754) | (6,839) |
| Changes in assets and liabilities: | ||
| Accounts receivable | (12,737) | (11,568) |
| Unbilled receivables | (3,029) | (2,808) |
| Prepaid expenses and other assets | 165 | 726 |
| Accounts payable | 728 | 1,495 |
| Accrued compensation and benefits | 1,295 | 6,993 |
| Operating lease liabilities | (4,104) | (3,767) |
| Income taxes, net | 3,121 | (6,655) |
| Accrued expenses and other liabilities | 291 | 872 |
| Net cash provided by operating activities | 30,509 | 30,704 |
| Cash flows from investing activities | ||
| Acquisition of business, net of cash acquired | (14,052) | 198 |
| Purchase of property and equipment | (10,296) | (11,537) |
| Net cash used in investing activities | (24,348) | (11,339) |
| Cash flows from financing activities | ||
| Payments for repurchases of common stock | (35,464) | — |
| Payments of tax obligations resulting from net share settlement of vested stock awards | (4,597) | (17,700) |
| Payment of contingent consideration related to previously acquired businesses | (2,120) | — |
| Proceeds from exercises of stock options, net of shares withheld for taxes | 64 | 469 |
| Payment of debt issuance cost | — | (253) |
| Net cash used in financing activities | (42,117) | (17,484) |
| Effect of exchange rate changes on cash and cash equivalents | (1,815) | 1,517 |
| Net increase/(decrease) in cash and cash equivalents | (37,771) | 3,398 |
| Cash and cash equivalents, beginning of period | 342,058 | 335,155 |
| Cash and cash equivalents, end of period | $304,287 | $338,553 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for income taxes, net of refunds | $5,996 | $9,854 |
| Supplemental disclosure of non-cash activities | ||
| Acquisition fair value of contingent consideration issued for acquisition of business | $1,555 | $— |
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