Grid Dynamics (GDYN)
Market Price (10/5/2026): $8.035 | Market Cap: $661.1 MilSector: Information Technology | Industry: IT Consulting & Other Services
Grid Dynamics (GDYN)
Market Price (10/5/2026): $8.035Market Cap: $661.1 MilSector: Information TechnologyIndustry: IT Consulting & Other Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -43% Megatrend and thematic driversMegatrends include Cloud Computing, Artificial Intelligence, and E-commerce & Digital Retail. Themes include Hybrid Cloud Solutions, Show more. | Weak multi-year price returns2Y Excs Rtn is -78%, 3Y Excs Rtn is -113% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -1.8 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.4% Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 231x Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.4% Key risksGDYN key risks include [1] a high concentration of revenue from a small number of key clients and [2] significant profit margin compression resulting from intense competition. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -43% |
| Megatrend and thematic driversMegatrends include Cloud Computing, Artificial Intelligence, and E-commerce & Digital Retail. Themes include Hybrid Cloud Solutions, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -78%, 3Y Excs Rtn is -113% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -1.8 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.4% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 231x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.4% |
| Key risksGDYN key risks include [1] a high concentration of revenue from a small number of key clients and [2] significant profit margin compression resulting from intense competition. |
Qualitative Assessment
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Grid Dynamics (GDYN) stock has gained about 40% since 6/30/2026 because of the following key factors:
1. Grid Dynamics reported strong financial results for fiscal Q2 2026, exceeding revenue and earnings expectations, and provided optimistic guidance for fiscal Q3 2026. The company announced fiscal Q2 2026 revenue of $108.2 million, surpassing the high end of its guidance range and analyst consensus estimates of approximately $106.55 million to $106.58 million. Non-GAAP earnings per share (EPS) for the quarter were $0.11, beating analysts' consensus estimates of $0.10 or $0.11. Notably, AI-related revenue reached a record 30.7% of total revenue, growing over 50% year-over-year for the second consecutive quarter. Following these results, Grid Dynamics projected fiscal Q3 2026 revenue to be between $112 million and $114 million, exceeding the analyst consensus of $111.80 million. This positive earnings report on July 30, 2026, caused shares to rise by 2.69% in after-hours trading, reaching $7.25, after a 4.41% gain during regular trading.
2. The company aggressively advanced its strategic focus on Artificial Intelligence (AI) and AI-native platforms. Grid Dynamics consistently highlighted its position as a "premier AI transformation partner for the Fortune 1000" throughout the period. Key initiatives included the continued development and rollout of its proprietary GAIN (Grid Dynamics AI Native) platforms, which integrate advanced agentic meta-harness technologies, including partnerships with Anthropic Claude and OpenAI Codex. The company announced plans to have 90% of its engineers trained and certified on these platforms by the end of October 2026, demonstrating a strong commitment to AI-first delivery. Furthermore, Grid Dynamics expanded its agentic harness technology to support over 500 additional engineers at a major North American home improvement retailer and appointed Nikita Ivanov as Head of AI in August 2026 to further its AI strategy. The company also co-hosted the Physical AI Summit alongside NVIDIA in September 2026 to promote manufacturing automation through AI.
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Grid Dynamics (GDYN) stock has gained about 40% since 6/30/2026 because of the following key factors:
1. Grid Dynamics reported strong financial results for fiscal Q2 2026, exceeding revenue and earnings expectations, and provided optimistic guidance for fiscal Q3 2026. The company announced fiscal Q2 2026 revenue of $108.2 million, surpassing the high end of its guidance range and analyst consensus estimates of approximately $106.55 million to $106.58 million. Non-GAAP earnings per share (EPS) for the quarter were $0.11, beating analysts' consensus estimates of $0.10 or $0.11. Notably, AI-related revenue reached a record 30.7% of total revenue, growing over 50% year-over-year for the second consecutive quarter. Following these results, Grid Dynamics projected fiscal Q3 2026 revenue to be between $112 million and $114 million, exceeding the analyst consensus of $111.80 million. This positive earnings report on July 30, 2026, caused shares to rise by 2.69% in after-hours trading, reaching $7.25, after a 4.41% gain during regular trading.
2. The company aggressively advanced its strategic focus on Artificial Intelligence (AI) and AI-native platforms. Grid Dynamics consistently highlighted its position as a "premier AI transformation partner for the Fortune 1000" throughout the period. Key initiatives included the continued development and rollout of its proprietary GAIN (Grid Dynamics AI Native) platforms, which integrate advanced agentic meta-harness technologies, including partnerships with Anthropic Claude and OpenAI Codex. The company announced plans to have 90% of its engineers trained and certified on these platforms by the end of October 2026, demonstrating a strong commitment to AI-first delivery. Furthermore, Grid Dynamics expanded its agentic harness technology to support over 500 additional engineers at a major North American home improvement retailer and appointed Nikita Ivanov as Head of AI in August 2026 to further its AI strategy. The company also co-hosted the Physical AI Summit alongside NVIDIA in September 2026 to promote manufacturing automation through AI.
3. Positive analyst sentiment and increased price targets bolstered investor confidence in Grid Dynamics' future growth. Multiple analysts issued "Strong Buy" or "Buy" ratings for GDYN during the period. The average analyst 12-month price target for Grid Dynamics Holdings was $9.75, representing a potential upside of 23.73% from the stock's price of $7.88. Some analysts projected significantly higher targets, with one forecast indicating an average price of $25.86 for 2026. In August 2026, the consensus EPS estimates for fiscal year 2026 increased by 43%, and the average price target rose by 12% to $9.20. Zacks.com, on September 4, 2026, assigned Grid Dynamics a "Zacks Rank #1 (Strong Buy)," citing the company's strong fiscal Q2 2026 results and its focus on AI.
4. Favorable macroeconomic trends in the IT services and AI sectors created a supportive environment for Grid Dynamics. The broader Information Technology sector was projected to exhibit double-digit year-over-year growth in fiscal Q3 2026. The global digital transformation consulting services market, valued at an estimated $98.9 billion in 2026, is anticipated to reach nearly $301 billion by 2035, growing at a compound annual growth rate (CAGR) of 13.2%. The market is seeing a fundamental shift where enterprises are moving beyond AI experimentation to production-scale deployments, with AI significantly reshaping the economics of tech services and driving expectations for productivity gains. This increased demand for digital and AI transformation services provided a strong tailwind for Grid Dynamics, which specializes in these areas.
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Stock Movement Drivers
Fundamental Drivers
The 41.2% change in GDYN stock from 6/30/2026 to 10/4/2026 was primarily driven by a 153.3% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10042026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.68 | 8.02 | 41.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 416 | 423 | 1.7% |
| Net Income Margin (%) | 1.3% | 0.7% | -46.7% |
| P/E Multiple | 91.0 | 230.6 | 153.3% |
| Shares Outstanding (Mil) | 85 | 82 | 2.9% |
| Cumulative Contribution | 41.2% |
Market Drivers
6/30/2026 to 10/4/2026| Return | Correlation | |
|---|---|---|
| GDYN | 41.2% | |
| Market (SPY) | 3.1% | 8.6% |
| Sector (XLK) | 4.9% | 1.0% |
Fundamental Drivers
The 40.7% change in GDYN stock from 3/31/2026 to 10/4/2026 was primarily driven by a 361.4% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 10042026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.70 | 8.02 | 40.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 412 | 423 | 2.6% |
| Net Income Margin (%) | 2.3% | 0.7% | -71.2% |
| P/E Multiple | 50.0 | 230.6 | 361.4% |
| Shares Outstanding (Mil) | 85 | 82 | 3.0% |
| Cumulative Contribution | 40.7% |
Market Drivers
3/31/2026 to 10/4/2026| Return | Correlation | |
|---|---|---|
| GDYN | 40.7% | |
| Market (SPY) | 18.6% | 20.2% |
| Sector (XLK) | 50.5% | 18.1% |
Fundamental Drivers
The 4.0% change in GDYN stock from 9/30/2025 to 10/4/2026 was primarily driven by a 500.8% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 10042026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.71 | 8.02 | 4.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 389 | 423 | 8.6% |
| Net Income Margin (%) | 4.4% | 0.7% | -84.5% |
| P/E Multiple | 38.4 | 230.6 | 500.8% |
| Shares Outstanding (Mil) | 85 | 82 | 2.8% |
| Cumulative Contribution | 4.0% |
Market Drivers
9/30/2025 to 10/4/2026| Return | Correlation | |
|---|---|---|
| GDYN | 4.0% | |
| Market (SPY) | 16.5% | 27.6% |
| Sector (XLK) | 42.3% | 21.5% |
Fundamental Drivers
The -34.2% change in GDYN stock from 9/30/2023 to 10/4/2026 was primarily driven by a -45.5% change in the company's P/S Multiple.| (LTM values as of) | 9302023 | 10042026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.18 | 8.02 | -34.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 319 | 423 | 32.4% |
| P/S Multiple | 2.9 | 1.6 | -45.5% |
| Shares Outstanding (Mil) | 75 | 82 | -8.7% |
| Cumulative Contribution | -34.2% |
Market Drivers
9/30/2023 to 10/4/2026| Return | Correlation | |
|---|---|---|
| GDYN | -34.2% | |
| Market (SPY) | 86.2% | 38.2% |
| Sector (XLK) | 148.1% | 30.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GDYN Return | 201% | -70% | 19% | 67% | -59% | -15% | -39% |
| Peers Return | 52% | -40% | 20% | -5% | -8% | -35% | -39% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| GDYN Win Rate | 67% | 33% | 50% | 67% | 25% | 33% | |
| Peers Win Rate | 67% | 39% | 56% | 50% | 50% | 33% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| GDYN Max Drawdown | -20% | -77% | -42% | -36% | -69% | -47% | |
| Peers Max Drawdown | -16% | -52% | -27% | -31% | -38% | -59% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: EPAM, CTSH, ACN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/2/2026 (YTD)
How Low Can It Go
| Event | GDYN | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -37.9% | -6.7% |
| % Gain to Breakeven | 60.9% | 7.1% |
| Time to Breakeven | 147 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -56.2% | -33.7% |
| % Gain to Breakeven | 128.2% | 50.9% |
| Time to Breakeven | 288 days | 140 days |
In The Past
Grid Dynamics's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | GDYN | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -37.9% | -6.7% |
| % Gain to Breakeven | 60.9% | 7.1% |
| Time to Breakeven | 147 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -56.2% | -33.7% |
| % Gain to Breakeven | 128.2% | 50.9% |
| Time to Breakeven | 288 days | 140 days |
In The Past
Grid Dynamics's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Grid Dynamics (GDYN)
Grid Dynamics (GDYN) is a professional services company focused on guiding large enterprises through digital transformation initiatives. They collaborate with Fortune 1000 corporations globally, helping them modernize their technology and operations to stay competitive in the digital age. Their work encompasses the entire transformation lifecycle, from initial strategic consulting and early-stage prototyping to the full enterprise-scale delivery of complex new digital platforms.
The company provides a comprehensive suite of services, including technical consulting, software design and development, rigorous testing, and internet service operations. Grid Dynamics helps clients implement advanced capabilities such as enhanced search functionalities, sophisticated data analytics, and automated release processes. These services are designed to improve efficiency, innovation, and overall digital maturity for their clients.
Grid Dynamics serves a diverse and international client base of major corporations, with a strong presence in North America and Europe. Their customers operate across various key sectors, including retail, technology and telecommunications, media, consumer packaged goods (CPG)/manufacturing, and financial services, among others.
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Analogy 1: Accenture for highly specialized digital engineering.
Analogy 2: A boutique version of Cognizant or Infosys, focused on next-gen digital platforms.
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- Digital Transformation Consulting: Providing strategic guidance and technical expertise to clients on their digital transformation journeys.
- Digital Platform Engineering & Development: Designing, building, and delivering new enterprise-scale digital platforms and custom software solutions.
- Software Quality Assurance: Conducting comprehensive testing to ensure the reliability, performance, and functionality of digital systems.
- Internet Service Operations: Managing and optimizing the ongoing operations of internet-based services and digital infrastructure.
- Enterprise Search Solutions: Developing and integrating advanced search capabilities to enhance data discoverability and accessibility within organizations.
- Data & Analytics Solutions: Implementing and managing data platforms and analytics services to help clients gain actionable insights.
- Release Automation Services: Automating and optimizing the software release and deployment processes for increased efficiency and speed.
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Grid Dynamics (symbol: GDYN) primarily sells its enterprise-level digital transformation services to other companies, specifically Fortune 1000 corporations.
The company does not publicly disclose the specific names of its major customers. According to its SEC filings, no single customer accounted for more than 10% of its revenue in recent fiscal years, indicating a diversified client base across multiple large enterprises.
However, Grid Dynamics publicly states that its clients operate in the following sectors:
- Retail
- Technology and Telecommunications
- Media
- Consumer Packaged Goods/Manufacturing
- Financial Services
- Other sectors
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Leonard Livschitz, CEO and Director
Leonard Livschitz has served as the Chief Executive Officer of Grid Dynamics since 2014 and as a member of its Board of Directors since 2006. He is a seasoned leader with over 30 years of experience in the high-tech industry. Before becoming CEO of Grid Dynamics, he co-founded Luxera, an LED smart system company, where he served as President and CEO from 2010 to 2014. His career also includes executive and management roles across sales, engineering, R&D, and manufacturing at companies such as Ford Motor Company, HP, and Philips.
Anil Doradla, CFO
Anil Doradla joined Grid Dynamics as Chief Financial Officer in November 2019, bringing over 20 years of diverse experience in finance, Wall Street, and technology. Most recently, he served as Chief Financial Officer of Airgain, Inc. (NASDAQ: AIRG), a provider of advanced antenna technologies. Prior to Airgain, Mr. Doradla worked on Wall Street as an equity research analyst at William Blair, covering a broad range of the technology sector. He also held senior finance, strategy, and technology roles with Caris and Company, Deutsche Bank AG, AT&T Labs, and LCC International.
Victoria Livschitz, Founder and EVP of Customer Success
Victoria Livschitz founded Grid Dynamics in August 2006 and served as its CEO until June 2013. She later returned to the company and served as Chairman and CTO, and then as CTO from April 2017 to August 2021. As an entrepreneur, she was also part of the original research team that built and commercialized the first public cloud system (SunGrid) while at Sun Microsystems. She began her career as a software engineer and architect at Ford. The company she founded, Grid Dynamics, went public in 2020. She also founded Tonomi and RightOnTrek, a company focused on hiking and outdoor gear.
Yury Gryzlov, COO & Head of Europe
Yury Gryzlov serves as the Chief Operating Officer and Chief Executive Officer of Grid Dynamics Europe.
Rahul Bindlish, Senior Vice President & Global Head of Partnerships and Marketing
Rahul Bindlish possesses over 30 years of experience in IT services and consulting. He specializes in assisting Tier-1 enterprises with their AI and digital initiatives to enhance business performance and foster industry-leading growth. Mr. Bindlish holds a Master's degree in Business and Management from the Asian Institute of Management.
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The key risks to Grid Dynamics' (GDYN) business include significant client concentration, intense competition within the digital engineering services sector coupled with the rapid evolution of AI technologies, and challenges in securing and retaining specialized talent.
The most significant risk is client concentration. Grid Dynamics relies heavily on a limited number of clients, with its top 10 clients accounting for 57.7% of its 2025 revenue. Furthermore, one single customer represented 15.4% of the company's revenue in the same year. This high degree of dependence means that the loss of a major client could substantially impact the company's financial performance.
Another key risk stems from the intensely competitive digital engineering and IT consulting market and the rapid pace of technological change, particularly in AI. Grid Dynamics operates in a fragmented sector, competing with both large global consultancies and specialized digital firms. The fast evolution of AI and cloud-native technologies necessitates continuous innovation. There is also a risk that AI automation tools could reduce the demand for traditional engineering work, directly impacting Grid Dynamics' service offerings.
Finally, talent scarcity and challenges in headcount management pose a substantial risk. As a services company, Grid Dynamics relies on highly skilled professionals, particularly in areas like AI and platform engineering, where talent remains scarce. Difficulty in attracting and retaining this specialized talent can hinder the company's ability to deliver projects and grow its business.
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The rapid advancement and adoption of Generative AI, particularly in areas like code generation, automated software development, and intelligent consulting tools, poses a clear emerging threat. As these AI capabilities mature, they have the potential to automate or significantly streamline many of the "software design, development, testing," "release automation," and "technical consulting" services that Grid Dynamics currently provides through human expertise. This could reduce the demand for traditional human-led digital transformation services, impacting Grid Dynamics' business model and revenue streams.
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Grid Dynamics Holdings, Inc. operates within several large and growing addressable markets for its digital transformation services.
Addressable Markets for Grid Dynamics' Main Products and Services (Global)
- Digital Transformation Services: The global digital transformation market was estimated at USD 1,070.43 billion in 2024 and is projected to reach USD 4,617.78 billion by 2030, growing at a CAGR of 28.5% from 2025 to 2030. Another estimate indicates the global digital transformation market size was valued at USD 938.6 billion in 2025 and is projected to reach USD 3,661.4 billion by 2034, exhibiting a CAGR of 15.51% from 2026-2034.
- Enterprise Search Services: The global enterprise search market size was valued at USD 6.7 billion in 2025 and is estimated to reach USD 14.5 billion by 2034, exhibiting a CAGR of 8.77% from 2026-2034.
- Analytics Services (Analytics as a Service - AaaS): The global analytics as a service (AaaS) market size was valued at USD 33.7 billion in 2025 and is estimated to reach USD 169.8 billion by 2034, exhibiting a CAGR of 19.07% from 2026-2034.
- Release Automation Services (DevOps Market): The global DevOps market size was valued at USD 15.8 billion in 2025 and is projected to reach USD 82.4 billion by 2034, growing at a CAGR of 20.15% from 2026-2034. Furthermore, the global Application Release Automation market size was valued at USD 4,560.1 million in 2023 and is projected to grow to USD 18,562.4 million by 2031, exhibiting a CAGR of 19.37%.
- AI Consulting Market: The AI consulting market is projected to grow from approximately USD 29 billion in 2023 to USD 85 billion by 2028, representing a five-year compound annual growth rate of 24%.
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Grid Dynamics (GDYN) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Accelerated Adoption of AI and AI-driven Solutions: Grid Dynamics is heavily investing in and focusing on artificial intelligence (AI) initiatives, with AI revenue representing 25% of its overall revenue in Q4 2025, and exceeding $90 million for the full year 2025, marking a 30% year-over-year growth. The company plans to scale its proprietary AI implementation approach, the GAIN framework, across all client engagements, capitalizing on a rapidly expanding AI consulting market.
- Expansion of Platform-Based Offerings and Recurring Revenue: The company is strategically focused on developing and expanding platform-based offerings, such as MXP and XTDB, to increase recurring revenue and enhance customer retention. This strategy aims to deepen engagement with existing clients and provide a more stable revenue stream.
- Deepening Strategic Partnerships with Hyperscalers and Industry Leaders: Grid Dynamics has forged and is expanding significant partnerships, including a strategic collaboration with AWS and an expanded partnership with NVIDIA for solutions like digital twins and Omniverse. These alliances with hyperscalers and key industry players are anticipated to be crucial catalysts for future growth.
- Growth in Key Industry Verticals: The company is making strategic investments and observing strong performance in specific industry verticals. The Technology, Media and Telecom (TMT) vertical was a significant growth driver in 2025, with revenues increasing 27.5% year-over-year. Additionally, the Finance vertical, driven by demand from fintech and banking customers, performed strongly, alongside continued focus on the Retail and Manufacturing sectors.
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Share Repurchases
- Grid Dynamics repurchased $2.0 million of its common stock during the fourth quarter of 2025.
- As of December 31, 2025, the company had $48.0 million remaining under its share repurchase authorization.
- Share buybacks have been opportunistic and conservative, considering IT services multiples and macro volatility.
Share Issuance
- The number of issued and outstanding shares increased by approximately 1.23 million in 2025, from 83,608,819 as of December 31, 2024, to 84,842,637 as of December 31, 2025.
- The basic share count for the first quarter of 2026 is expected to be in the range of 85.0-86.0 million.
Outbound Investments
- Mergers and acquisitions (M&A) continue to be a priority in the company's capital allocation strategy.
- In 2024, Grid Dynamics executed on its acquisition strategy by integrating U.K.-based JUXT and Argentina-based Mobile Computing.
- Capital allocation has emphasized M&A flexibility for AI-driven "tuck-ins" and talent investments to strategically enhance capabilities, geographic presence, and industry verticals.
Peer Outperformance in IT Consulting & Other Services
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| GDYN | Grid Dynamics | 10.2% | 230.6x | -5.0% | -31.9% | -72.3% | — |
| ADEA | Adeia | 7.0% | 23.1x | 50.4% | 213.1% | 198.0% | +270pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 9 | 72.0% | 194.8% | 342.7% | TTMI 927% · FLEX 789% · SANM 478% |
| Semiconductor Materials & Equipment | 27 | 102.0% | 118.1% | 135.4% | AXTI 986% · AEHR 681% · LRCX 558% |
| Technology Distributors | 9 | 44.1% | 98.0% | 108.7% | CLMB 415% · AVT 220% · SNX 177% |
| Electronic Components | 26 | 43.3% | 84.4% | 82.0% | CLS 4156% · BELFA 1424% · COHR 506% |
| Communications Equipment | 36 | 7.5% | 104.3% | 77.4% | AAOI 1583% · LITE 1224% · FEIM 959% |
| Semiconductors | 55 | 28.5% | 65.3% | 39.4% | POET 1813% · MU 1461% · NVDA 1049% |
| Technology Hardware, Storage & Peripherals | 20 | 23.9% | 126.2% | 35.7% | SMCI 1072% · DELL 1060% · STX 1049% |
| Internet Services & Infrastructure | 6 | -6.6% | 47.2% | 22.6% | DOCN 77% · VRSN 42% · GDDY 40% |
| Electronic Equipment & Instruments | 26 | -21.7% | 27.9% | -3.7% | PI 245% · KEYS 136% · VPG 123% |
| IT Consulting & Other Services ← | 28 | -22.9% | -7.7% | -18.9% | CHRN 505426% · APLD 1054% · TSSI 831% |
| Application Software | 125 | -29.5% | -14.1% | -45.2% | VIDA 132400% · INLX 4812% · PLTR 713% |
| Systems Software | 70 | -19.2% | 17.3% | -51.2% | QNC 555% · PAYS 456% · PANW 409% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 83.20 |
| Mkt Cap | 16.4 |
| Rev LTM | 13,629 |
| Op Inc LTM | 2,042 |
| FCF LTM | 1,540 |
| FCF 3Y Avg | 1,322 |
| CFO LTM | 1,728 |
| CFO 3Y Avg | 1,494 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.7% |
| Rev Chg 3Y Avg | 5.1% |
| Rev Chg Q | 5.1% |
| QoQ Delta Rev Chg LTM | 1.2% |
| Op Inc Chg LTM | 6.3% |
| Op Inc Chg 3Y Avg | 6.3% |
| Op Mgn LTM | 12.9% |
| Op Mgn 3Y Avg | 13.0% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 11.5% |
| CFO/Rev 3Y Avg | 11.1% |
| FCF/Rev LTM | 10.3% |
| FCF/Rev 3Y Avg | 10.0% |
Price Behavior
| Market Price | $8.02 | |
| Market Cap ($ Bil) | 0.7 | |
| First Trading Date | 10/30/2018 | |
| Distance from 52W High | -20.3% | |
| 50 Days | 200 Days | |
| DMA Price | $7.65 | $7.09 |
| DMA Trend | down | up |
| Distance from DMA | 4.9% | 13.1% |
| 3M | 1YR | |
| Volatility | 44.8% | 58.1% |
| Downside Capture | 18.88 | 158.16 |
| Upside Capture | 158.66 | 125.32 |
| Correlation (SPY) | 14.0% | 28.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.60 | 1.59 | 0.47 | 0.92 | 1.25 | 1.28 |
| Up Beta | 1.49 | 1.80 | 1.15 | 1.28 | 0.66 | 1.17 |
| Down Beta | 1.70 | 1.84 | -2.34 | 0.14 | 1.30 | 1.26 |
| Up Capture | 165% | 192% | 165% | 123% | 155% | 138% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 11 | 24 | 34 | 62 | 121 | 366 |
| Down Capture | 154% | 85% | -27% | 76% | 132% | 110% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 10 | 16 | 28 | 62 | 129 | 380 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GDYN | |
|---|---|---|---|---|
| GDYN | 2.6% | 58.1% | 0.25 | - |
| Sector ETF (XLK) | 41.2% | 26.5% | 1.27 | 21.5% |
| Equity (SPY) | 16.2% | 13.0% | 0.88 | 27.5% |
| Gold (GLD) | 6.8% | 29.6% | 0.22 | -1.5% |
| Commodities (DBC) | 44.9% | 20.8% | 1.67 | -10.2% |
| Real Estate (VNQ) | 1.5% | 13.6% | -0.15 | 7.5% |
| Bitcoin (BTCUSD) | -28.9% | 44.3% | -0.64 | 25.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GDYN | |
|---|---|---|---|---|
| GDYN | -24.5% | 61.2% | -0.22 | - |
| Sector ETF (XLK) | 21.5% | 25.9% | 0.73 | 37.4% |
| Equity (SPY) | 13.1% | 17.2% | 0.58 | 41.2% |
| Gold (GLD) | 18.4% | 18.9% | 0.79 | 1.6% |
| Commodities (DBC) | 10.3% | 19.6% | 0.41 | -0.8% |
| Real Estate (VNQ) | 0.7% | 18.8% | -0.07 | 32.6% |
| Bitcoin (BTCUSD) | 14.6% | 52.2% | 0.45 | 20.0% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GDYN | |
|---|---|---|---|---|
| GDYN | -2.0% | 56.3% | 0.18 | - |
| Sector ETF (XLK) | 24.9% | 25.0% | 0.90 | 35.2% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 38.1% |
| Gold (GLD) | 11.5% | 16.4% | 0.57 | 3.2% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 6.4% |
| Real Estate (VNQ) | 4.2% | 20.7% | 0.16 | 33.0% |
| Bitcoin (BTCUSD) | 64.1% | 66.2% | 1.04 | 17.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -2.4% | 7.4% | 12.9% |
| 4/30/2026 | 2.1% | 22.8% | 38.1% |
| 3/5/2026 | -7.1% | -9.9% | -20.4% |
| 10/30/2025 | 22.9% | 15.0% | 15.0% |
| 7/31/2025 | -16.4% | -15.5% | -12.6% |
| 5/1/2025 | -3.1% | 0.6% | -14.8% |
| 2/20/2025 | 4.3% | -6.7% | -20.6% |
| 10/31/2024 | -4.3% | 11.0% | 16.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 17 | 14 |
| # Negative | 10 | 7 | 10 |
| Median Positive | 8.2% | 7.4% | 18.0% |
| Median Negative | -4.2% | -6.7% | -12.1% |
| Max Positive | 26.7% | 27.0% | 40.6% |
| Max Negative | -20.0% | -26.6% | -22.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -2.4% | 7.4% | 12.9% |
| 4/30/2026 | 2.1% | 22.8% | 38.1% |
| 3/5/2026 | -7.1% | -9.9% | -20.4% |
| 10/30/2025 | 22.9% | 15.0% | 15.0% |
| 7/31/2025 | -16.4% | -15.5% | -12.6% |
| 5/1/2025 | -3.1% | 0.6% | -14.8% |
| 2/20/2025 | 4.3% | -6.7% | -20.6% |
| 10/31/2024 | -4.3% | 11.0% | 16.7% |
| 8/1/2024 | 13.0% | 8.5% | 13.6% |
| 5/2/2024 | 2.3% | 6.9% | -5.6% |
| 2/22/2024 | 3.2% | -1.7% | -11.1% |
| 11/2/2023 | 9.3% | 1.4% | 15.1% |
| 8/3/2023 | 14.6% | 11.8% | 19.3% |
| 5/4/2023 | -20.0% | -26.6% | -22.6% |
| 2/23/2023 | 1.9% | -1.8% | -11.6% |
| 11/3/2022 | -4.2% | 3.1% | -2.1% |
| 8/4/2022 | -1.7% | -4.3% | -1.5% |
| 5/5/2022 | 15.6% | 1.9% | 26.7% |
| 3/3/2022 | -6.6% | 5.5% | 34.9% |
| 11/4/2021 | 26.7% | 27.0% | 26.3% |
| 8/5/2021 | 15.7% | 10.9% | 40.6% |
| 5/6/2021 | 6.9% | 13.5% | 9.0% |
| 3/4/2021 | -3.0% | 6.0% | 5.5% |
| 11/5/2020 | 7.2% | 3.9% | 34.7% |
| SUMMARY STATS | |||
| # Positive | 14 | 17 | 14 |
| # Negative | 10 | 7 | 10 |
| Median Positive | 8.2% | 7.4% | 18.0% |
| Median Negative | -4.2% | -6.7% | -12.1% |
| Max Positive | 26.7% | 27.0% | 40.6% |
| Max Negative | -20.0% | -26.6% | -22.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 03/05/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 03/05/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 03/03/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 03/05/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 05/12/2020 | S-1 |
Recent Forward Guidance
Updated 10/4/2026Latest: Q2 2026 Earnings Reported 7/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Revenue | Reported | 112.00 Mil | 113.00 Mil | 114.00 Mil | 5.6% | Higher New | Guidance: 107.00 Mil for Q2 2026 | |
| Q3 2026 Non-GAAP EBITDA | Reported | 16.50 Mil | 17.00 Mil | 17.50 Mil | 17.2% | Higher New | Guidance: 14.50 Mil for Q2 2026 | |
| Q3 2026 Basic Share Count | Reported | 81.00 Mil | 81.50 Mil | 82.00 Mil | ||||
| Q3 2026 Diluted Share Count | Reported | 83.00 Mil | 83.50 Mil | 84.00 Mil | ||||
| 2026 Revenue | Reported | 435.00 Mil | 450.00 Mil | 465.00 Mil | 0 | Affirmed | Guidance: 450.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 4/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | Reported | 106.00 Mil | 107.00 Mil | 108.00 Mil | 3.4% | Higher New | Guidance: 103.50 Mil for Q1 2026 | |
| Q2 2026 Non-GAAP EBITDA | Reported | 14.00 Mil | 14.50 Mil | 15.00 Mil | 16.0% | Higher New | Guidance: 12.50 Mil for Q1 2026 | |
| 2026 Revenue | Reported | 435.00 Mil | 450.00 Mil | 465.00 Mil | 0 | Affirmed | Guidance: 450.00 Mil for 2026 | |
| 2026 Revenue Growth | Reported | 5.6% | 9.25% | 12.9% | -0.0% | Lowered | Guidance: 9.3% for 2026 | |
Q4 2025 Earnings Reported 3/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | Reported | 103.00 Mil | 103.50 Mil | 104.00 Mil | -2.4% | Lower New | Guidance: 106.00 Mil for Q4 2025 | |
| Q1 2026 Non-GAAP EBITDA | Reported | 12.00 Mil | 12.50 Mil | 13.00 Mil | -7.4% | Lower New | Guidance: 13.50 Mil for Q4 2025 | |
| 2026 Revenue | Reported | 435.00 Mil | 450.00 Mil | 465.00 Mil | 9.3% | Higher New | Guidance: 411.70 Mil for 2025 | |
| 2026 Revenue Growth | Reported | 9.3% | -8.1% | Lower New | Guidance: 17.4% for 2025 | |||
Q3 2025 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Revenue | Reported | 105.00 Mil | 106.00 Mil | 107.00 Mil | 1.9% | Higher New | Guidance: 104.00 Mil for Q3 2025 | |
| Q4 2025 Non-GAAP EBITDA | Reported | 13.00 Mil | 13.50 Mil | 14.00 Mil | 8.0% | Higher New | Guidance: 12.50 Mil for Q3 2025 | |
| 2025 Revenue | Reported | 410.70 Mil | 411.70 Mil | 412.70 Mil | -3.1% | Lowered | Guidance: 425.00 Mil for 2025 | |
| 2025 Revenue Growth | Reported | 17.1% | 17.4% | 17.7% | -3.8% | Lowered | Guidance: 21.25% for 2025 | |
| 2026 Operating Margin Improvement | Reported | 3.0% | ||||||
Insider Activity
Updated 10/2/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Gryzlov, Yury | CHIEF OPERATING OFFICER | Direct | Sell | 9032026 | 8.00 | 3,918 | 31,344 | 4,024,560 | Form |
| 2 | Gryzlov, Yury | CHIEF OPERATING OFFICER | Direct | Sell | 8192026 | 7.53 | 467 | 3,517 | 3,817,620 | Form |
| 3 | Gryzlov, Yury | CHIEF OPERATING OFFICER | Direct | Sell | 8132026 | 8.00 | 3,930 | 31,440 | 4,064,696 | Form |
| 4 | Gryzlov, Yury | CHIEF OPERATING OFFICER | Direct | Sell | 7022026 | 6.29 | 1,245 | 7,831 | 3,220,587 | Form |
| 5 | Gryzlov, Yury | CHIEF OPERATING OFFICER | Direct | Sell | 6012026 | 8.00 | 4,435 | 35,480 | 4,119,584 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Gryzlov, Yury | CHIEF OPERATING OFFICER | Direct | Sell | 9032026 | 8.00 | 3,918 | 31,344 | 4,024,560 | Form |
| 2 | Gryzlov, Yury | CHIEF OPERATING OFFICER | Direct | Sell | 8192026 | 7.53 | 467 | 3,517 | 3,817,620 | Form |
| 3 | Gryzlov, Yury | CHIEF OPERATING OFFICER | Direct | Sell | 8132026 | 8.00 | 3,930 | 31,440 | 4,064,696 | Form |
| 4 | Gryzlov, Yury | CHIEF OPERATING OFFICER | Direct | Sell | 7022026 | 6.29 | 1,245 | 7,831 | 3,220,587 | Form |
| 5 | Gryzlov, Yury | CHIEF OPERATING OFFICER | Direct | Sell | 6012026 | 8.00 | 4,435 | 35,480 | 4,119,584 | Form |
| 6 | Gryzlov, Yury | CHIEF OPERATING OFFICER | Direct | Sell | 5152026 | 6.45 | 467 | 3,012 | 3,350,020 | Form |
| 7 | Gryzlov, Yury | CHIEF OPERATING OFFICER | Direct | Sell | 4022026 | 5.54 | 1,245 | 6,897 | 2,883,470 | Form |
| 8 | Gryzlov, Yury | CHIEF OPERATING OFFICER | Direct | Sell | 3122026 | 6.22 | 21,266 | 132,275 | 3,255,629 | Form |
| 9 | Livschitz, Leonard | CHIEF EXECUTIVE OFFICER | Direct | Sell | 1212026 | 9.00 | 10,000 | 90,000 | 28,119,087 | Form |
| 10 | Livschitz, Leonard | CHIEF EXECUTIVE OFFICER | Direct | Sell | 12292025 | 9.33 | 10,000 | 93,300 | 26,323,457 | Form |
| 11 | Zhang, Shuo | Direct | Sell | 12172025 | 9.75 | 3,000 | 29,250 | 902,021 | Form | |
| 12 | Livschitz, Leonard | CHIEF EXECUTIVE OFFICER | Direct | Sell | 12112025 | 9.70 | 10,000 | 97,000 | 27,464,367 | Form |
| 13 | Doradla, Anil | CHIEF FINANCIAL OFFICER | Direct | Sell | 12112025 | 10.00 | 4,368 | 43,680 | 3,448,520 | Form |
| 14 | Gryzlov, Yury | CHIEF OPERATING OFFICER | Direct | Sell | 12092025 | 9.66 | 25,000 | 241,500 | 4,253,192 | Form |
| 15 | Livschitz, Leonard | CHIEF EXECUTIVE OFFICER | Direct | Sell | 12042025 | 9.00 | 10,000 | 90,000 | 25,572,402 | Form |
| 16 | Gryzlov, Yury | CHIEF OPERATING OFFICER | Direct | Sell | 11042025 | 9.00 | 737 | 6,633 | 4,187,601 | Form |
| 17 | Livschitz, Leonard | CHIEF EXECUTIVE OFFICER | Direct | Sell | 11042025 | 9.00 | 10,000 | 90,000 | 25,662,402 | Form |
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Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| IT Consulting & Other Services Resources |
| IDC |
| Forrester |
| Consultancy.org |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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