Grid Dynamics Holdings, Inc. (NASDAQ: GDYN), a leading enterprise-level digital transformation services provider, reported impressive financial results for the third quarter of 2024, demonstrating the company's continued momentum and strong demand for its services.

For the quarter ended September 30, 2024, Grid Dynamics achieved record revenues of $87.4 million, surpassing the company's guidance range of $84.0 million to $86.0 million. This represents a year-over-year increase of 12.9% from the same period last year. The company's robust performance was driven by strength across multiple verticals, particularly in the Retail, Technology, Media and Telecom (TMT), and Finance sectors.

Grid Dynamics reported a GAAP net income of $4.3 million, or $0.05 per diluted share, compared to $0.7 million, or $0.01 per diluted share, in the third quarter of 2023. Non-GAAP net income for the quarter was $8.1 million, or $0.10 per diluted share, reflecting the company's strong operational efficiency and profitability.