Grid Dynamics Holdings (GDYN) Operating Expenses (2018 - 2026)
Grid Dynamics Holdings' Operating Expenses came in at $38.34 million for Q2 2026, up 10.7% from $34.63 million a year earlier but down 3.9% from the prior quarter.
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Analysis
Grid Dynamics Holdings (GDYN) Operating Expenses (2018 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Grid Dynamics Holdings reported Operating Expenses of $148.84 million, up 6.3% year-over-year; for FY2025, it was $144.24 million, up 11.7% from FY2024.
- Operating Expenses carries a five-year compound annual growth rate of 20.4% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $129.11 million in FY2024 (+8.7%), $118.73 million in FY2023 (-16.2%), $141.6 million in FY2022 (+61.5%) and $87.68 million in FY2021 (+53.6%).
- The five-year range for quarterly Operating Expenses is $23.3 million (Q3 2021) to $39.91 million (Q1 2026).
- Year-over-year, Operating Expenses increased in seven of the last eight quarters, with growth averaging 11.7%.
- The fastest year-over-year change in Operating Expenses over five years came in Q2 2022 (growth of 115.7%), and the weakest in Q2 2023 (a decline of 32.1%).
- Business Quant data shows GDYN's Operating Expenses at $39.91 million (Q1 2026), $35.63 million (Q4 2025) and $34.95 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Infosys | 42.66 Bn | 42.72 Bn | 1.60 Bn | 528.00 Mn |
| 2 | Cognizant Technology Solutions | 25.65 Bn | 18.82 Bn | 1.83 Bn | 812.00 Mn |
| 3 | Td Synnex | 20.51 Bn | 14.54 Bn | 1.34 Bn | 822.22 Mn |
| 4 | Cdw | 16.33 Bn | 14.32 Bn | 1.32 Bn | 891.20 Mn |
| 5 | Cgi | 15.07 Bn | 12.85 Bn | - | 12.44 Mn |
| 6 | Arrow Electronics | 11.72 Bn | 10.75 Bn | 1.13 Bn | 747.88 Mn |
| 7 | Avnet | 8.33 Bn | 7.51 Bn | 865.03 Mn | 634.01 Mn |
| 8 | Ingram Micro Holding | 6.23 Bn | 1.84 Bn | 958.68 Mn | 722.71 Mn |
| 9 | EPAM Systems | 5.55 Bn | 1.19 Bn | 429.57 Mn | 245.25 Mn |
| 10 | Grid Dynamics Holdings | 615.35 Mn | -691.16 Mn | 39.62 Mn | 38.34 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 38.34 Mn |
| Mar 31, 2026 | 39.91 Mn |
| Dec 31, 2025 | 35.63 Mn |
| Sep 30, 2025 | 34.95 Mn |
| Jun 30, 2025 | 34.63 Mn |
| Mar 31, 2025 | 39.03 Mn |
| Dec 31, 2024 | 35.79 Mn |
| Sep 30, 2024 | 30.59 Mn |
| Jun 30, 2024 | 29.52 Mn |
| Mar 31, 2024 | 33.21 Mn |
| Dec 31, 2023 | 29.18 Mn |
| Sep 30, 2023 | 28.01 Mn |
| Jun 30, 2023 | 26.97 Mn |
| Mar 31, 2023 | 34.57 Mn |
| Dec 31, 2022 | 37.89 Mn |
| Sep 30, 2022 | 37.42 Mn |
| Jun 30, 2022 | 39.71 Mn |
| Mar 31, 2022 | 26.58 Mn |
| Dec 31, 2021 | 28.85 Mn |
| Sep 30, 2021 | 23.30 Mn |
API Access
Grid Dynamics Holdings Operating Expenses 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=operating-expenses&ticker=GDYN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=GDYN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();