Grid Dynamics Holdings, Inc. announced financial results for the third quarter of 2026, reporting total revenues of $114.3 million. This figure represents a 5.7% increase from the second quarter of 2026 and a 9.7% increase compared to the third quarter of 2025. The company noted that the results exceeded the high end of its previously issued revenue guidance range of $112.0 million to $114.0 million.
Revenue performance was driven by the Technology, Media and Telecom (TMT) vertical, which contributed 32.3% of total revenue and increased 29.3% year-over-year. Retail was the second-largest vertical, accounting for 27.2% of revenue, with a 13.3% year-over-year increase. The Finance vertical contributed 22.5% of revenue, while the Consumer Packaged Goods and Manufacturing verticals represented 10.9% of revenue.
On the balance sheet, the company reported cash and cash equivalents of $304.3 million as of September 30, 2026. During the nine months ended September 30, 2026, Grid Dynamics spent $35.5 million to repurchase 5.3 million shares under its $50 million share repurchase program. The company also reported a total headcount of 4,559 as of September 30, 2026.
For the fourth quarter of 2026, Grid Dynamics expects revenues to be in the range of $113.5 million to $115.5 million. The company also provided guidance for non-GAAP EBITDA, expecting it to fall between $20.0 million and $22.0 million for the quarter.
