US-based Grid Dynamics Posts Q3 Revenue of $77.4 Million

Global digital engineering company Grid Dynamics reported revenue of $77.4 million in the third quarter of 2023.

“Our third quarter results reflect the company’s strong commitment to our clients and ability to execute to our stated goals. There were many positive trends in the quarter,” the company said in its financial statement.

“We signed ten new enterprise customers bringing the total to 28 since the beginning of the year. Our AI capabilities continue to garner significant interest and during the quarter we completed multiple projects across industry verticals,” the statement added.

“At new and existing customers, our AI success has led us to incremental digital transformation opportunities beyond AI,” it added.

“On the demand environment, I am incrementally positive,” the company’s CEO Leonard Livschitz, said in the statement, adding that although the macro environment impacts customers at varying levels, the fourth quarter outlook reflects improving trends.

Grid Dynamics operates in South East Europe (SEE) region in Romania with engineering centres in the city of Timisoara and Bucharest and with engineering centre in Serbian capital of Belgrade.

You can explore some of the company’s open positions in the region in our Jobs section.

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