Grid Dynamics Holdings (GDYN) Cost of Revenue (2019 - 2026)
Grid Dynamics Holdings (GDYN) reported Cost of Revenue of $68.21 million for Q3 2026, down 1.8% from $69.45 million a year earlier and down 0.5% from the prior quarter.
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Analysis
Grid Dynamics Holdings (GDYN) Cost of Revenue (2019 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Grid Dynamics Holdings' Cost of Revenue came in at $274.64 million, up 4.5% year-over-year; for FY2025, it came in at $269.48 million, up 20.5% from FY2024.
- Cost of Revenue has increased for five consecutive years, with a five-year compound annual growth rate of 31.1% (FY2020 to FY2025).
- By year, Cost of Revenue came in at $223.57 million in FY2024 (+11.9%), $199.76 million in FY2023 (+5.2%), $189.89 million in FY2022 (+53.7%) and $123.55 million in FY2021 (+77.4%).
- Five-year quarterly Cost of Revenue spans a low of $39.21 million in Q4 2021 and a high of $70.02 million in Q4 2025.
- Year over year, Cost of Revenue gained in seven of the last eight quarters, with growth averaging 14.8%.
- The high point for year-over-year Cost of Revenue in five years was Q4 2021 (growth of 119.5%); the low point was Q3 2026 (a decline of 1.8%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $68.55 million (Q2 2026), $67.87 million (Q1 2026) and $70.02 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Infosys | 51.06 Bn | 16.35 Bn | 1.60 Bn | 3.55 Bn |
| 2 | Cognizant Technology Solutions | 29.12 Bn | 23.09 Bn | 1.91 Bn | 3.75 Bn |
| 3 | Cdw | 21.17 Bn | 18.07 Bn | 1.39 Bn | 5.37 Bn |
| 4 | Td Synnex | 18.55 Bn | 12.71 Bn | 1.43 Bn | 20.13 Bn |
| 5 | Cgi | 18.36 Bn | 16.16 Bn | - | - |
| 6 | Arrow Electronics | 9.82 Bn | 8.84 Bn | 1.16 Bn | 9.56 Bn |
| 7 | EPAM Systems | 8.35 Bn | 4.26 Bn | 445.94 Mn | 980.49 Mn |
| 8 | Avnet | 7.00 Bn | 6.12 Bn | 1.07 Bn | 9.64 Bn |
| 9 | ExlService Holdings | 6.69 Bn | 5.49 Bn | 241.14 Mn | 392.82 Mn |
| 10 | Grid Dynamics Holdings | 1.13 Bn | -142.98 Mn | 46.08 Mn | 68.21 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 68.21 Mn |
| Jun 30, 2026 | 68.55 Mn |
| Mar 31, 2026 | 67.87 Mn |
| Dec 31, 2025 | 70.02 Mn |
| Sep 30, 2025 | 69.45 Mn |
| Jun 30, 2025 | 66.59 Mn |
| Mar 31, 2025 | 63.42 Mn |
| Dec 31, 2024 | 63.23 Mn |
| Sep 30, 2024 | 54.71 Mn |
| Jun 30, 2024 | 53.47 Mn |
| Mar 31, 2024 | 52.15 Mn |
| Dec 31, 2023 | 49.96 Mn |
| Sep 30, 2023 | 49.27 Mn |
| Jun 30, 2023 | 49.04 Mn |
| Mar 31, 2023 | 51.51 Mn |
| Dec 31, 2022 | 48.30 Mn |
| Sep 30, 2022 | 48.49 Mn |
| Jun 30, 2022 | 48.47 Mn |
| Mar 31, 2022 | 44.63 Mn |
| Dec 31, 2021 | 39.21 Mn |
API Access
Grid Dynamics Holdings Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=GDYN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "GDYN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=GDYN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();