Grid Dynamics Sets Q4 Revenue Range at $113.5 Million to $115.5 Million

Grid Dynamics set a fourth-quarter 2026 revenue range of $113.5 million to $115.5 million after third-quarter sales grew 9.7% year over year and topped its earlier forecast.

Revenue for the three months ended Sept. 30 was $114.294 million, $294,000 above the top of the company’s prior $112 million to $114 million range. Non-GAAP EBITDA was $22.9 million, equal to 20% of revenue. Grid Dynamics described the EBITDA result as a record.

For the fourth quarter, the company projected non-GAAP EBITDA of $20 million to $22 million. It did not provide a target for GAAP net income because it could not reasonably estimate certain items excluded from its non-GAAP measure.

Grid Dynamics provides AI transformation and enterprise technology services. Its AI revenue grew more than 45% year over year for a third straight quarter. Technology, Media and Telecom was the company’s largest third-quarter revenue vertical, accounting for 32.3% of sales.

Chief Executive Officer Leonard Livschitz said Grid Dynamics expects to return to double-digit growth in 2027 and sustain that pace in subsequent years. On acquisitions, he said, “After two years of disciplined execution, we are ready to acquire larger companies in 2027.”

Chief Financial Officer Anil Doradla described the company’s interest in larger deals, saying, “The appetite right now is for larger acquisitions, which we hope to do in 2027.” He said potential deals could add capabilities, domain knowledge or engineering depth.

Doradla said the company’s third-quarter acquisition efforts had focused on capabilities in capital markets and robotics before it turned toward larger opportunities. Grid Dynamics did not name acquisition targets or disclose deal sizes. No transaction was confirmed.