Grid Dynamics (GDYN) 10-Q 5 Nov 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 31, 2020
Document Information Line Items
Entity Registrant Name	Grid Dynamics Holdings, Inc.
Trading Symbol	GDYN
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		50,859,760
Amendment Flag	false
Entity Central Index Key	0001743725
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-38685
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-0632724
Entity Address, Address Line One	5000 Executive Parkway
Entity Address, Address Line Two	Suite 520
Entity Address, City or Town	San Ramon
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94583
City Area Code	(619)
Local Phone Number	736-6855
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 126,526	$ 42,189
Accounts receivable, net of allowance of $418, and $20 as of September 30, 2020 and December 31, 2019	15,634	13,893
Unbilled receivables	2,063	5,036
Prepaid income taxes	1,130	308
Deferred transaction costs		1,878
Prepaid expenses and other current assets	2,486	2,711
Total current assets	147,839	66,015
Property and equipment, net	3,969	4,024
Intangible assets, net		18
Deferred income taxes	5,993	1,474
Total assets	157,801	71,531
Current liabilities
Accounts payable	518	768
Accrued liabilities	612	1,188
Accrued compensation and benefits	5,685	5,337
Accrued income taxes	979	869
Other current liabilities	2	138
Total liabilities	7,796	8,300
Commitments and contingencies (Note 11)
Convertible preferred stock, no par value, 0 and 1,047,942 shares authorized and outstanding as of September 30, 2020 and December 31, 2019, respectively		9,187
Stockholders’ equity (Note 8)
Common stock, $0.0001 par value; 110,000,000 shares authorized; 50,859,760 and 21,644,392 issued and outstanding as of September 30, 2020 and December 31, 2019, respectively	5	2
Additional paid-in capital	122,487	18,650
Retained earnings	27,513	35,392
Total stockholders’ equity	150,005	54,044
Total liabilities, convertible preferred stock, and stockholders’ equity	$ 157,801	$ 71,531

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance (in Dollars)	$ 418	$ 20
Convertible preferred stock, par value (in Dollars per share)
Convertible preferred stock, shares authorized	0	1,047,942
Convertible preferred stock, shares outstanding	0	1,047,942
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	110,000,000	110,000,000
Common stock, shares issued	50,859,760	21,644,392
Common stock, shares outstanding	50,859,760	21,644,392

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME/(LOSS) AND COMPREHENSIVE INCOME/(LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenue	$ 26,332	$ 31,422	$ 81,157	$ 86,325
Cost of revenue	15,178	17,626	51,799	50,754
Gross profit	11,154	13,796	29,358	35,571
Operating expenses
Engineering, research, and development	2,076	1,083	7,193	3,284
Sales and marketing	2,245	1,764	7,451	5,262
General and administrative	8,504	5,364	26,606	15,545
Total operating expenses	12,825	8,211	41,250	24,091
Income/(loss) from operations	(1,671)	5,585	(11,892)	11,480
Other income/(expenses), net	455	(89)	419	(172)
Income/(loss) before income taxes	(1,216)	5,496	(11,473)	11,308
Provision/(benefit) for income taxes	(99)	1,043	(3,594)	2,608
Net income/(loss) and comprehensive income/(loss)	$ (1,117)	$ 4,453	$ (7,879)	$ 8,700
Earnings/(loss) per share
Basic (in Dollars per share)	$ (0.02)	$ 0.20	$ (0.18)	$ 0.40
Diluted (in Dollars per share)	$ (0.02)	$ 0.20	$ (0.18)	$ 0.40
Weighted average shares outstanding
Basic (in Shares)	49,651	21,644	43,074	20,941
Diluted (in Shares)	49,651	22,692	43,074	21,505

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Temporary equity Convertible Preferred Stock	Common Stock	Additional paid-in capital	Retained earnings	Total
Balance at Dec. 31, 2018			$ 8,794	$ 24,585	$ 33,379
Balance (in Shares) at Dec. 31, 2018		12,000
Conversion of stock		$ 2	(2)
Conversion of stock (in Shares)		8,217
Balance, effect of reverse recapitalization (refer to Note 3)		$ 2	8,792	24,585	33,379
Balance, effect of reverse recapitalization (refer to Note 3) (in Shares)		20,217
Net income/(loss)				712	712
Stock-based compensation			1,658		1,658
Balance at Mar. 31, 2019		$ 2	10,450	25,297	35,749
Balance (in Shares) at Mar. 31, 2019		20,217
Balance at Dec. 31, 2018			8,794	24,585	33,379
Balance (in Shares) at Dec. 31, 2018		12,000
Net income/(loss)					8,700
Balance at Sep. 30, 2019	$ 9,187	$ 2	18,234	33,285	51,521
Balance (in Shares) at Sep. 30, 2019	1,048	21,644
Balance at Mar. 31, 2019		$ 2	10,450	25,297	35,749
Balance (in Shares) at Mar. 31, 2019		20,217
Net income/(loss)				3,535	3,535
Stock-based compensation			238		238
Issuance of common and preferred stock, net of $96 issuance costs	$ 9,187		5,717		5,717
Issuance of common and preferred stock, net of $96 issuance costs (in Shares)	1,048	1,048
Exercise of stock options			1,700		1,700
Exercise of stock options (in Shares)		379
Balance at Jun. 30, 2019	$ 9,187	$ 2	18,105	28,832	46,939
Balance (in Shares) at Jun. 30, 2019	1,048	21,644
Net income/(loss)				4,453	4,453
Stock-based compensation			129		129
Balance at Sep. 30, 2019	$ 9,187	$ 2	18,234	33,285	51,521
Balance (in Shares) at Sep. 30, 2019	1,048	21,644
Balance at Dec. 31, 2019	$ 9,187	$ 8,117	10,535	35,392	54,044
Balance (in Shares) at Dec. 31, 2019	622	12,847
Conversion of stock		$ (8,115)	8,115
Conversion of stock (in Shares)	426	8,797
Balance, effect of reverse recapitalization (refer to Note 3)	$ 9,187	$ 2	18,650	35,392	54,044
Balance, effect of reverse recapitalization (refer to Note 3) (in Shares)	1,048	21,644
Net income/(loss)				(4,596)	(4,596)
Stock-based compensation			4,804		4,804
Merger recapitalization	$ (9,187)	$ 1	9,187		9,188
Merger recapitalization (in Shares)	(1,048)	1,048
Consideration paid to Grid shareholders			(123,865)		(123,865)
ChaSerg shares recapitalized, net of transaction costs of $4,142		$ 2	204,323		204,325
ChaSerg shares recapitalized, net of transaction costs of $4,142 (in Shares)		28,088
Conversion of promissory note to common stock			530		530
Conversion of promissory note to common stock (in Shares)		53
Balance at Mar. 31, 2020		$ 5	113,629	30,796	144,430
Balance (in Shares) at Mar. 31, 2020		50,833
Balance at Dec. 31, 2019	$ 9,187	$ 8,117	10,535	35,392	54,044
Balance (in Shares) at Dec. 31, 2019	622	12,847
Net income/(loss)					(7,879)
Balance at Sep. 30, 2020		$ 5	122,487	27,513	150,005
Balance (in Shares) at Sep. 30, 2020		50,860
Balance at Mar. 31, 2020		$ 5	113,629	30,796	144,430
Balance (in Shares) at Mar. 31, 2020		50,833
Net income/(loss)				(2,166)	(2,166)
Stock-based compensation			3,654		3,654
Exercise of stock options			59		59
Exercise of stock options (in Shares)		6
Balance at Jun. 30, 2020		$ 5	117,342	28,630	145,977
Balance (in Shares) at Jun. 30, 2020		50,839
Net income/(loss)				(1,117)	(1,117)
Stock-based compensation			5,126		5,126
Exercise of stock options			19		19
Exercise of stock options (in Shares)		6
Issuance of shares in connection with vested RSUs
Issuance of shares in connection with vested RSUs (in Shares)		15
Balance at Sep. 30, 2020		$ 5	$ 122,487	$ 27,513	$ 150,005
Balance (in Shares) at Sep. 30, 2020		50,860

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Jun. 30, 2019
Statement of Stockholders' Equity [Abstract]
Recapitalized, net of transaction costs	$ 4,142
Issuance of common and preferred stock costs		$ 96

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net income/(loss)	$ (7,879)	$ 8,700
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,896	1,681
Impairment of goodwill		139
Bad debt expense	398
Deferred income taxes	(4,519)	(41)
Stock-based compensation	13,584	2,025
Changes in assets and liabilities:
Accounts receivable	(2,139)	(97)
Unbilled receivables	2,973	(1,197)
Prepaid income taxes	(822)	(1,132)
Deferred transaction cost		(1,414)
Prepaid expenses and other current assets	10	(393)
Accounts payable	(250)	(137)
Accrued liabilities	(576)	(142)
Accrued compensation and benefits	348	2,308
Accrued income taxes	110	773
Other current liabilities	(136)	(257)
Net cash provided by operating activities	2,998	10,816
Cash flows from investing activities
Purchase of property and equipment	(1,607)	(2,099)
Net cash used in investing activities	(1,607)	(2,099)
Cash flows from financing activities
Cash received from ChaSerg	208,997
GDI shares redeemed for cash (net of cash received from exercise of accelerated options)	(123,865)
Equity issuance costs	(2,264)
Sales of common and preferred stock		14,904
Proceeds from exercises of stock options	78	1,700
Payments of dividends		(2,000)
Net cash provided by financing activities	82,946	14,604
Net increase in cash and cash equivalents	84,337	23,321
Cash and cash equivalents, beginning of period	42,189	17,862
Cash and cash equivalents, end of period	126,526	41,183
Cash paid for income taxes	1,370	3,828
Significant non-cash activities
Conversion of preferred stock to common stock	$ 9,187

Background and nature of operat

Background and nature of operations	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Background and nature of operations	Note 1 — Background and nature of operations Grid Dynamics Holdings, Inc. (the “Company” or “GDH”) provides enterprise-level digital transformation in the areas of search, analytics, and release automation to Fortune 1000 companies. The Company’s headquarters and principal place of business is in San Ramon, California. The Company was originally incorporated in Delaware on May 21, 2018 as a special purpose acquisition company under the name ChaSerg Technology Acquisition Corp. (“ChaSerg”) for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination involving ChaSerg and one or more businesses. On March 5, 2020 (the “Closing”), the Company consummated its business combination with Grid Dynamics International, Inc. (“GDI”) pursuant to the Agreement and Plan of Merger (the “Merger Agreement”), dated November 13, 2019 (the “Business Combination”). In connection with the Closing, the Company changed its name from ChaSerg Technology Acquisition Corp. to Grid Dynamics Holdings, Inc. The Company’s common stock is now listed on the NASDAQ under the symbol “GDYN” and warrants to purchase the common stock at an exercise price of $11.50 per share are listed on the NASDAQ under the symbol “GDYNW.” Unless the context otherwise requires, the “Company” refers to the combined company and its subsidiaries following the Business Combination, “ChaSerg” refers to the Company prior to the Closing, and “GDI” refers to GDI prior to the Closing. Refer to Note 3 for further discussion of the Business Combination.

Basis of presentation and summa

Basis of presentation and summary of significant accounting policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of presentation and summary of significant accounting policies	Note 2 — Basis of presentation and summary of significant accounting policies The following is a summary of the significant accounting policies consistently applied in the preparation of the accompanying consolidated financial statements. Unaudited Interim Financial Statements The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited condensed consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of the Company’s management, necessary for the fair presentation of the results of operations for the interim periods. Operating results for the nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. These interim financial statements should be read in conjunction with GDI’s audited financial statements for the year ended December 31, 2019 included in the Current Report on Form 8-K that the Company filed with the SEC on March 9, 2020. Basis of presentation The Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP. Although ChaSerg was the legal acquirer, for accounting purposes, GDI was deemed to be the accounting acquirer. GDI was determined to be the accounting acquirer based on evaluation of the following facts and circumstances: ● GDI holds executive management roles for the Company and those individuals are responsible for the day-to-day operations; ● GDI’s former owners have the largest minority voting rights in the Company; ● From a revenue and business operation standpoint, GDI was the larger entity in terms of relative size; ● GDI’ San Ramon, CA headquarters are the headquarters of the Company; and ● The intended strategy of the Company will continue GDI’s strategy of driving enterprise-level digital transformation in the Fortune 1000 companies. In conjunction with the Business Combination, outstanding shares of GDI were converted into common stock of the Company, par value $0.0001 per share, shown as a recapitalization, and the net assets of ChaSerg were acquired at historical cost, with no goodwill or other intangible assets recorded. GDI was deemed to be the predecessor of the Company, and the consolidated assets and liabilities and results of operations prior to the Closing (for the year ended December 31, 2019 and three months ended March 31, 2020 and for the three Principles of consolidation The accompanying condensed financial statements include the accounts of the Company and all of its subsidiaries that are directly or indirectly owned or controlled. Intercompany transactions and balances have been eliminated upon consolidation. Use of estimates The preparation of the consolidated condensed financial statements in accordance with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from these estimates and such differences could be material. Significant estimates include useful lives and recoverability of property and equipment, allowances for receivables, calculation of accrued liabilities, capitalization of internally developed software, stock-based compensation, determination of provision for income taxes and uncertain tax positions. Certain significant risks and uncertainties The Company is subject to risks, including but not limited to customer concentration, concentrations of credit and foreign currency risks. Refer to Note 4 below for additional information. Additionally, the Company has been impacted by the recent coronavirus (“COVID-19”) pandemic. The global pandemic of COVID-19 has negatively affected the U.S. and global economy, disrupted global supply chains, resulted in significant travel and transport restrictions, including mandated closures and orders to “shelter-in-place,” and created significant disruption of the financial market. The COVID-19 pandemic has impacted the Company’s revenues and the Company’s business continues to be exposed to risks and uncertainties related to the pandemic. The impact of the COVID-19 pandemic has been more pronounced with the Company’s retail customers, which depend on keeping their stores open. Additionally, in situations where the Company’s customers encounter financial difficulties, there is a risk associated with the Company’s inability to collect money from customers. The Company has taken several actions to deal with the COVID-19 pandemic. These include enabling its employees to work from home, company-wide salary and compensation cuts, hiring freezes, and suspending all non-essential travel. The ultimate impact and the extent to which the COVID-19 pandemic will continue to affect the business, results of operation and financial condition is difficult to predict and depends on numerous evolving factors outside of the Company’s control including: the duration and scope of the pandemic; government, social, business and other actions that have been and will be taken in response to the pandemic; and the effect of the pandemic on short and long-term general economic conditions. Cash and cash equivalents The Company considers cash equivalents to be highly liquid investments with original maturities of three months or less from the date of purchase. Cash equivalents are stated at cost, which approximates fair value. At times, cash deposits with banks may exceed federally insured limits. Accounts receivable and allowance for doubtful accounts Accounts receivable, less allowance for doubtful accounts, reflect the net realizable value of receivables and approximate fair value. The Company maintains an allowance against accounts receivable for the estimated probable losses on uncollectible accounts. The allowance is based upon historical loss experience, current economic conditions within the industries the Company serves as well as determination of the specific risk related to certain customers. Accounts receivable are charged off against the reserve when, in management’s estimation, further collection efforts would not result in a reasonable likelihood of receipt. The allowance for doubtful accounts balance increased $0.4 million as of September 30, 2020 compared to December 31, 2019. As of September 30, December 31, Trade accounts receivable $ 16,052 $ 13,913 Allowance for doubtful accounts (418 ) (20 ) Total trade accounts receivable, net $ 15,634 $ 13,893 Revenue recognition The Company accounts for a contract with a customer when 1) the parties to the contract have approved the contract and are committed to performing their respective obligations, 2) the contract identifies each party’s rights regarding the goods or services to be transferred, 3) the contract identifies the payment terms for the goods or services to be transferred, 4) the contract has commercial substance, and 5) collection of substantially all consideration pursuant to the contract is probable. The Company derives its revenue from offering a suite of digital engineering and information technology (“IT”) consulting services, including digital transformation strategy, emerging technology, lean labs and legacy system replatforming. For most contracts, the Company uses master agreements to govern the overall relevant terms and conditions of the business arrangement between the Company and its customers. When the Company and a customer enter into a Master Services Agreement (“MSA”), purchases are generally made by the customer via a statement of work (“SOW”) which explicitly references the MSA and specifies the services to be delivered. Fees for these contracts may be in the form of time-and-materials or fixed-fee arrangements. The majority of the Company’s revenues are generated under time-and-material contracts which are billed using hourly rates to determine the amounts to be charged directly to the customer. Fees are billed and collected as stipulated in the contract, and revenue is recognized as services are performed. If there is an uncertainty about the receipt of payment for the services, revenue is recognized to the extent that a significant reversal of revenue would not be probable. Consulting services revenue is a single performance obligation earned through a series of distinct daily services and may include services such as those described above. The Company recognizes revenue for services over time as the customer simultaneously receives and consumes the benefits as the Company performs IT consulting services. For time-and-materials contracts, the customer derives value from the Company providing daily consulting services, and the value derived corresponds to the labor hours expended. Therefore, the Company measures the progress and recognizes revenue using an effort-based input method. For fixed fee contracts, the Company recognizes revenue as the work is performed, the monthly calculation of which is based upon actual labor hours incurred and level of effort expended throughout the duration of the contract. For time-and-material contracts, the Company applies the variable consideration allocation exception. Therefore, instead of allocating the variable consideration to the entire performance obligation, the Company determined the variable consideration should be allocated to each distinct service to which the variable consideration relates, which is providing the customer daily consulting services. The Company also offers volume discounts or early settlement discounts. Volume discounts apply once the customer reaches certain contractual spend thresholds. Early settlement discounts are issued contingent upon the timing of the payment from the customer. If the consideration promised in a contract includes a variable amount, the Company only includes estimated amounts of consideration in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. These estimates may require management to make subjective judgments and to make estimates about the effects of matters inherently uncertain. The determination of whether to constrain consideration in the transaction price are based on information (historical, current and forecasted) that is reasonably available to the Company, taking into consideration the type of customer, the type of transaction and the specific facts and circumstances of each arrangement. Although the Company believes that its approach in developing estimates and its reliance on certain judgments and underlying inputs is reasonable, actual results may differ from management’s estimates, judgments and assumptions. These estimates have historically not been material to the consolidated financial statements. Remaining performance obligation ASC 606 requires that the Company disclose the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied as of September 30, 2020. This disclosure is not required for: 1) contracts with an original duration of one year or less, including contracts that can be terminated for convenience without a substantive penalty, 2) contracts for which the Company recognizes revenues based on the right to invoice for services performed, 3) variable consideration allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation in accordance with ASC 606-10-25-14(b), for which the criteria in ASC 606-10-32-40 have been met, or 4) variable consideration in the form of a sales-based or usage-based royalty promised in exchange for a license of intellectual property. All of the Company’s contracts met one or more of these exemptions as of September 30, 2020. Income taxes The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred income taxes are recognized for the tax consequences of temporary differences between the financial statement carrying amounts and the tax basis of the assets and liabilities. The determination of the provision for income taxes requires significant judgment, the use of estimates and the interpretation and application of complex tax laws. The provision for income taxes reflects a combination of income earned and taxed in the various U.S. federal and state, international and other jurisdictions. Jurisdictional tax law changes, increases or decreases in permanent differences between book and tax items, accruals or adjustments of accruals for tax contingencies or valuation allowances, and the change in the mix of earnings from these taxing jurisdictions all affect the overall effective tax rate. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion, or all, of the deferred tax assets will not be realized. Management considers all available evidence, both positive and negative, in determining whether a valuation allowance is required. Such evidence includes prior earnings history, the scheduled reversal of deferred tax liabilities, projected future taxable income, carryback and carryforward periods of tax attributes, and tax planning strategies that could potentially enhance the likelihood of realization of a deferred tax asset in making this assessment. The weight given to the positive and negative evidence is commensurate with the extent to which the evidence may be objectively verified. The Company evaluates for uncertain tax positions at each balance sheet date. When it is more likely than not that a position will be sustained upon examination by a tax authority that has full knowledge of all relevant information, the Company measures the amount of tax benefit from the position and records the largest amount of tax benefit that is greater than 50% likely of being realized after settlement with a tax authority. The Company’s policy for interest and/or penalties related to underpayments of income taxes is to include interest and penalties in income tax expense. Restructuring The Company initiated a restructuring plan focused on optimizing utilization. For the three months ended September 30, 2020 and for the nine months ended September 30, 2020, the Company incurred and paid total restructuring expenses of $0.1 million and $0.9 million, respectively, which mostly included employee termination costs. This amount is included as a component of general and administrative expenses in the condensed consolidated financial statements. Recently adopted accounting pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (the “FASB”), in the form of Accounting Standards Updates (“ASUs”), to the FASB’s ASC. The Company has elected not to opt out of the extended transition period and thus when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement In October 2018, the FASB issued ASU No. 2018-17, “ Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities Recently issued accounting pronouncements The Company considered the applicability and impact of all ASUs. ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases Financial Instruments — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842), In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326) — Measurement of Credit Losses on Financial Instruments Codification Improvements to Topic 326, Financial Instruments — Credit Losses, Financial Instruments — Credit Losses (Topic 326): Targeted Transition Relief, Financial Instruments—Credit Losses (Topic 326) Leases (Topic 842). Financial Instruments — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842), In December 2019, the FASB issued Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In March 2020, FASB issued ASU No. 2020-03, Codification to Financial Instruments.

Business combination

Business combination	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Business combination	Note 3 – Business combination On March 5, 2020, ChaSerg consummated its business combination with GDI pursuant to the Merger Agreement. Fees and expenses paid in connection with the Business Combination were settled using funds from the trust account. Immediately following the Business Combination, there were 50,833,619 shares of common stock with a par value of $0.0001, and 11,346,500 warrants outstanding. GDI began operations in September 2006 to provide next-generation ecommerce platform solutions in the areas of search, analytics, and release automation to Fortune 1000 companies. Under ASC 805, Business Combinations, The aggregate consideration for the Business Combination was $396.5 million, consisting of $130.0 million in cash and 27,006,251 shares of ChaSerg’s common stock valued at $10.19 per share, less a post-Closing share adjustment amount of 857,143 shares which were placed in escrow post-Closing. The shares transferred at Closing included 4,313,917 options to purchase the Company’s shares that were vested, outstanding and unexercised, which were determined using 1,739,932 vested options at Closing converted at an exchange ratio of approximately 2.48. Additionally, 364,094 options to purchase the Company’s common stock that were unvested, outstanding and unexercised were assumed by the Company, which were determined using 146,865 unvested options at Closing converted at an exchange ratio of approximately 2.48. The following represents the aggregate consideration for the Business Combination: (in thousands, except for share and per share amounts) Shares transferred at Closing 27,006,251 Less: Post-Closing share adjustment (857,143 ) Total shares transferred at Closing 26,149,108 Value per share 10.19 Total share consideration $ 266,459 Plus: Cash transferred to GDI stockholders 130,000 Closing merger consideration $ 396,459 In connection with the Closing, 51,715 shares of common stock were redeemed at a price per share of approximately $10.21. See Note 8 for details of the Company’s common stock prior to and subsequent to the Business Combination. In connection with the Business Combination, the Company incurred direct and incremental costs of approximately $4.7 million, consisting of legal and professional fees, of which $4.1 million were related to equity issuance costs and recorded to additional paid-in capital as a reduction of proceeds and $0.6 million were recorded to general and administrative expenses. In connection with the Business Combination, all outstanding retention bonus obligations from a 2017 acquisition totaling $3,363,000 were accelerated and paid in full to Grid Dynamics’ personnel immediately prior to the Closing and were recorded in the cost of revenue and operating expenses in the condensed consolidated financial statements.

Concentrations of credit risk

Concentrations of credit risk	9 Months Ended
	Sep. 30, 2020
Risks and Uncertainties [Abstract]
Concentrations of credit risk	Note 4 — Concentrations of credit risk The Company records its accounts receivable and unbilled receivables at their face amounts less allowances. Accounts receivable and unbilled receivables are generally dispersed across the Company’s customers in proportion to their revenue. Two customers individually exceeded 10% of the Company’s accounts receivable balance at September 30, 2020. Three customers individually exceeded 10% of the Company’s accounts receivable balance at December 31, 2019. Four customers individually exceeded 10% of the unbilled receivables at September 30, 2020 and two customers individually exceeded the unbilled receivables balance at December 31, 2019. Two and three customers accounted for greater than 10% of the sales for the three months ended September 30, 2020 and 2019, respectively. Two and three customers accounted for greater than 10% of the sales for the nine months ended September 30, 2020 and 2019, respectively.

Property and Equipment, net

Property and Equipment, net	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Note 5 — Property and Equipment, net Property and equipment consist of the following (in thousands): Estimated Useful As of Life September 30, December 31, Computers and equipment 3 $ 5,580 $ 5,470 Machinery and automobiles 5 162 129 Furniture and fixtures 7 457 544 Software 5 513 407 Leasehold improvements 7 153 119 6,865 6,669 Less: Accumulated depreciation and amortization (4,388 ) (3,784 ) 2,477 2,885 Capitalized software development costs 2 3,395 2,478 Less: Accumulated amortization (1,903 ) (1,339 ) 1,492 1,139 Property and equipment, net $ 3,969 $ 4,024

Accrued liabilities

Accrued liabilities	9 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Accrued liabilities	Note 6 — Accrued liabilities The components of accrued liabilities were as follows (in thousands): As of September 30, December 31, Accrued customer discounts $ 334 $ 298 Accrued retention bonus - 648 Other accrued liabilities 278 242 Total accrued liabilities $ 612 $ 1,188

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income taxes	Note 7 — Income taxes The Company recorded income tax expense/(benefit) of $(0.1) million and $1.0 million for the three months ended September 30, 2020 and 2019, respectively, and $(3.6) million and $2.6 million for the nine months ended September 30, 2020 and 2019, respectively. The Company’s effective tax rate was 8.1% and 19.0% for the three months ended September 30, 2020 and 2019, respectively, and 31.3% and 23.1% for the nine months ended September 30, 2020 and 2019, respectively. The increase/decrease in effective tax rate for the three and nine months ended September 30, 2020, as compared to the same periods in 2019 was primarily due to excess tax benefits of stock-based compensation. The tax benefit recognized in the current nine months is primarily due to net operating losses generated by stock compensation deductions as a result of the Business Combination and year-to-date book losses. For the three-and nine-month periods ended September 30, 2020, the Company used a discrete On March 27, 2020, the U.S. President signed into law the CARES Act, an economic stimulus package in response to the COVID-19 global pandemic. The CARES Act contains several corporate income tax provisions, including making remaining alternative minimum tax credits immediately refundable; providing a 5-year carryback of net operating loss carryforwards (“NOLs”) generated in tax years 2018, 2019, and 2020, and removing the 80% taxable income limitation on utilization of those NOLs if carried back to prior tax years or utilized in tax years beginning before 2021; and temporarily liberalizing the interest deductibility rules under Section 163(j) of the Tax Cuts and Jobs Act, by raising the adjusted taxable income limitation from 30% to 50% for tax years 2019 and 2020 and giving taxpayers the election of using 2019 adjusted taxable income for purposes of computing 2020 interest deductibility. The Company anticipates being in a loss position at year end and will be able to take advantage of the NOL carryback provision. The Company is still evaluating the impact but does not currently expect the provisions of the CARES Act to have a material effect on the realizability of deferred income tax assets or tax expense. There is no material impact for the three and nine months ended September 30, 2020. As additional guidance is released, the Company will evaluate whether there would need to be a change in the period when such guidance is issued.

Stockholders' equity

Stockholders' equity	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Stockholders’ equity	Note 8 — Stockholders’ equity The following description summarizes the material terms and provisions of the securities that the Company has authorized. Common stock The Company is authorized to issue 110,000,000 of common stock. At Closing, the Company had issued 50,833,619 shares of common stock. As of September 30, 2020, the Company had 50,859,760 shares of common stock that were outstanding, of which: a) 26,888,285 shares were issued to the stockholders of ChaSerg who did not redeem their shares, b) 1,200,000 shares legally issued and outstanding to the ChaSerg Founders and underwriter subject to earnout provisions as discussed further below, c) 53,000 shares issued to the Sponsor of ChaSerg (the “Sponsor”) at $10.00 per share as the result of a promissory note of $0.5 million converted to the Company’s common stock, d) 19,490,295 shares issued to GDD International Holding Company, e) 2,094,850 shares issued to BGV Opportunity Fund, L.P., and f) 1,133,330 shares issued to former shareholders of GDI. Additionally at Closing, there were 4,313,917 outstanding vested options to purchase the Company’s common stock. Preferred Stock As of December 31, 2019 GDI had 1,047,942 shares of no par value shares of preferred stock outstanding convertible on a 1:1 basis with GDI’s common stock. At the Closing, the preferred stock outstanding was converted into common stock of the Company, par value $0.0001 per share. Therefore, as of September 30, 2020 there was no preferred stock outstanding. Founders and underwriter shares subject to earnout provisions At the Closing, the Company had 1,200,000 shares of common stock issued and outstanding subject to earnout provisions (the “Earnout Shares”). The Earnout Shares are subject to transfer restrictions and the owners of the Earnout Shares cannot sell, transfer or otherwise dispose of their respective shares until the respective earnout provisions have been achieved as described further below. The Earnout Shares have full ownership rights including the right to vote and receive dividends and other distributions thereon. Dividends and other distributions are not subject to forfeiture in accordance with the Amended and Restated Sponsor Share Letter filed with the SEC on January 26, 2020. The Earnout Shares vest and are no longer subject to the transfer restrictions as follows: 1) 399,999; 400,000; and 400,001 Earnout Shares vest if the closing price of the Company’s common stock on the principal exchange on which the securities are listed or quoted have been at or about $12.00; $13.50; and $15.00 per share, respectively, for 20 trading days (which need not be consecutive) over a thirty trading day period at any time; The Earnout Shares automatically vest upon and immediately prior to any of the following events: 1) The Company engages in a “going private” transaction pursuant to Rule 13e-3 under the Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise cease to be subject to reporting obligations under Sections 13 or 15(d) of the Exchange Act; 2) The Company’s common stock ceases to be listed on a national securities exchange; 3) The Company is amalgamated, merged, consolidated or reorganized with or into another company or person (an “Acquiror”) and as a result of such amalgamation, merger, consolidation or reorganization, fewer than 50.1% (whether by voting or economic rights) of the outstanding equity securities or other capital interests of the Acquiror or surviving or resulting entity is owned in the aggregate by the shareholders of the Company, directly or indirectly, immediately prior to such amalgamation, merger, consolidation or reorganization, excluding from such computation the interests of the Acquiror or any affiliate of the Acquiror; 4) The Company and/or its subsidiaries sell, assign, transfer or otherwise dispose of (including by bulk reinsurance outside of the ordinary course of business consistent with past practice), in one or a series of related transactions, all or substantially all of the assets of the Company and its subsidiaries, taken as a whole, to an Acquiror, fewer than 50.1% (whether by voting or economic rights) of the outstanding equity securities or other capital interests of which, immediately following such sale, assignment or transfer, are owned in the aggregate by the pre-transaction Company stockholders; or 5) If a Schedule 13D or Schedule 13G report (or any successor schedules, form or report), each as promulgated pursuant to the Exchange Act, is filed with the SEC disclosing that any person or group (as the terms “person” and “group” are used in Section 13(d) or Section 14(d) of the Exchange Act and the rules and regulations promulgated thereunder) has become the beneficial owner (as the term “beneficial owner” is defined in Rule 13d-3 or any successor rule or regulation promulgated under the Exchange Act) of a percentage of shares of the outstanding Company common shares as shall be greater than the percentage of such shares that, at the date of such filing, is held by any other person or group that held more than 50% of the voting or economic power of Company immediately after the Closing. The Earnout Shares released for any event as noted above shall be subject to an equitable adjustment for share splits, share dividends, reorganizations, combinations, recapitalizations and similar transactions affecting the common stock after the Closing. Additionally, each such price threshold shall be reduced by the amount of the aggregate cash or the fair market value of any securities or other assets paid or payable by the Company to the holders of common stock, on a per share basis, as an extraordinary dividend or distribution following the Closing; provided that the declaration and payment of any such extraordinary dividend or distribution shall be subject to all applicable laws. An “extraordinary dividend or distribution” means any dividend or distribution other than a regularly-scheduled dividend or distribution. As of September 30, 2020, none of the Earnout Shares have vested. Warrants As of September 30, 2020, there were a total of 11,346,500 warrants outstanding. As part of its initial public offering (“IPO”), ChaSerg issued 22,000,000 units including one share of common stock and one-half of one redeemable warrant. Simultaneously with its IPO, ChaSerg issued 640,000 private placement units to its sponsor underwriter, each consisting of one common share and one-half of one redeemable warrant. ChaSerg issued 53,000 units as a result of the conversion of a working capital sponsor loan consisting of one common share and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of common stock at a price of $11.50. Warrants may only be exercised for a whole number of shares for common stock. No fractional shares will be issued upon exercise of the warrants. Each warrant is currently exercisable and will expire March 5, 2025 (five years after the completion of the Business Combination), or earlier upon redemption or liquidation. The Company may call the warrants for redemption at a price of $0.01 per warrant upon a minimum 30 days’ prior written notice of redemption, if and only if, the reported last sale price of the Company’s common stock equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending three business days before the Company sends the notice of redemption to the warrant holders; and if and only if, there is a current registration statement in effect with respect to the shares of common stock underlying such warrants.

Stock-based compensation

Stock-based compensation	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-based compensation	Note 9 — Stock-based compensation 2018 Stock Plan The Company had previously adopted a stock plan in 2018 (the “2018 Stock Plan”). Under the terms of the 2018 Stock Plan, certain option grants were accelerated in full or by an additional 12 months as a result of the Business Combination. Therefore, on the date of Closing, the acceleration of vesting for 2,568,523 stock options resulted in a stock compensation charge and corresponding increase to additional paid-in capital of $2.5 million. Additionally, at Closing, a percentage of outstanding vested GDI stock options were settled in exchange for cash consideration, pursuant to the terms of the Merger Agreement. The remaining portion of outstanding vested options totaling 1,739,932 and all unvested options totaling 146,865 were automatically assumed and converted into options to purchase the Company’s common stock as of the Closing. The number of each participant’s assumed options and the exercise price were adjusted as provided in the Merger Agreement. There was no incremental compensation cost attributable to the incremental fair value of the modified options compared to the original options on the modification date. The assumed stock options will continue to be subject to the same terms and conditions, including vesting schedule terms, in accordance with the 2018 Stock Plan. Exercise prices for 2018 Stock Plan options range between $3.51 and $3.54 per share. The following table sets forth the activity, including the conversion of the vested and unvested options, for the three months ended March 31, 2020: Options Outstanding Balance at December 31, 2019 2,734,327 Cashed out (828,590 ) Forfeited (18,940 ) Balance at March 31, 2020 (prior to exchange ratio conversion) 1,886,797 Converted vested balance 4,313,917 Converted unvested balance 364,094 Balance at March 31, 2020 (post to exchange ratio conversion) 4,678,011 As of September 30, 2020 28,641 shares were forfeited and 22,217 shares were exercised for the total proceeds of $0.1 million. The number of shares exercisable as of September 30, 2020 was 4,357,125 with the average exercise price $3.54 per share. 2020 Equity Incentive Plan Effective March 5, 2020, our board of directors approved an equity incentive plan (the “2020 Plan”). The 2020 Plan permits the Company to grant a maximum aggregate amount of 16,300,000 Incentive Stock Options, Nonstatutory Stock Options (“NSOs”), Restricted Stock, Restricted Stock Units (“RSUs”), Stock Appreciation Rights, Performance Units (“PSUs”), and Performance Shares (“PSAs”) (collectively, the “Awards”) to employees, directors, and consultants of the Company. Our board of directors or any committee appointed by the board has the authority to grant Awards. As of September 30, 2020, our board of directors granted 1,897,000 NSOs, 2,993,455 RSUs, and 574,188 target PSU at a maximum payout at 300%. Stock Options The 1,552,100 NSOs granted on March 13, 2020, 239,400 NSOs granted on May 4, 2020 and 105,500 NSOs granted on August 3, 2020 are subject to the following time-based vesting conditions: one-fourth of the NSOs will vest on one year after the grant date; and thereafter one-sixteenth of the NSOs will vest each subsequent three-month anniversary. The NSOs have approximately a ten-year exercise term, and once the NSOs are vested, the recipients have the right to purchase the Company’s stock at a fixed and specified exercise price. The grant date fair value of each NSO was estimated on the date of grant using the Black-Scholes option pricing model, as determined by our board of directors. The key assumptions for 2020 grants are provided in the following table. 2020 Dividend yield 0 % Expected volatility 40 % Risk-free interest rate 0.31%-0.80 % Expected term in years 6.11 Grant date fair value of common stock $6.86-8.26 The Company used a zero percent dividend yield assumption for all Black-Scholes stock option-pricing calculations. Since the Company’s shares were not publicly traded prior to the Closing and its shares were rarely traded privately, expected volatility is estimated based on the average historical volatility of similar entities with publicly traded shares. The risk-free rate for the expected term of the options is based on the U.S. Treasury yield curve at the date of grant. Expected term is estimated using the simplified method, which takes into account vesting and contractual term. The simplified method is being used to calculate expected term instead of historical experience due to a lack of relevant historical data resulting from changes in option vesting schedules and changes in the pool of employees receiving option grants. None of the 2020 NSO grants are vested as of September 30, 2020. The aggregated fair value of 1,897,000 NSOs granted during the nine months ended September 30, 2020 was $6.1 million. The total unrecognized compensation expenses related to 2020 Stock Plan options as of September 30, 2020 was $4.9 million to be expensed on a straight-line basis over 3.49 years. Restricted Stock Units A total of 2,993,455 RSUs granted as of September 30, 2020 were granted at the average fair market value of the Company’s stock of $8.17. The RSUs granted to employees generally are subject to the following time-based vesting conditions: one-fourth vest on the first anniversary of the grant; and thereafter one-sixteenth of the RSUs will vest each subsequent three-month anniversary. RSUs granted do not participate in earnings, dividends, and do not have voting rights until vested. 15,120 RSUs granted to the Board were released as of September 30, 2020. The aggregated fair value of RSUs granted during the nine months ended September 30, 2020 was $24.5 million. The total unrecognized compensation expenses related to 2020 Stock Plan RSUs as of September 30, 2020 was $21.0 million to be expensed on a straight-line basis over 3.43 years. Performance Stock Units On May 4, 2020, the Company granted 574,188 Performance Stock target shares under the 2020 Stock Plan with the maximum payout capped at 300%. The performance goals for these grants consist of: 1) Year-over-year growth in non-retail revenue for the Performance Period, which is Fiscal Year 2020, expressed as a percentage increase over the Fiscal Year 2019 non-retail revenue (“Revenue Growth”), and 2) Contribution Margin for the Performance Period as a percentage of non-retail revenue for the Performance Period. Fifty percent (50%) of the target number of performance shares granted will vest (if at all) based on the extent of achievement of Revenue Growth for the Performance Period and the remaining fifty percent (50%) of the target number of performance shares granted will vest (if at all) based on the extent of achievement of the Contribution Margin. Performance shares will be certified and vested no later than March 1, 2021 with the payout shortly after. As of September 30, 2020, the Company assessed the vesting of the Performance Share Units as probable. Stock-based compensation expense related to Performance Stock Units was $3.1 million and $5.1 million in the three and nine months ended September 30, 2020. Stock-Based Compensation Expense The Company classifies awards issued under the stock-based compensation plans as equity. Total compensation expense for the three months ended September 30, 2020 was $5.1 million, which included $0.02 million of compensation expense related to the 2018 Stock Plan and the rest of compensation expense related to the 2020 Plan. Total compensation expense for the three months ended September 30, 2019 was $0.1 million. Total compensation expense for the nine months ended September 30, 2020 was $13.6 million, which included $2.0 million of compensation expense related to the 2018 Stock Plan, $2.5 million of compensation expense related to the acceleration of vesting of awards under the 2018 Stock Plan, and the rest of compensation expense related to the 2020 Plan. Total compensation expense for the nine months ended September 30, 2019 was $2.0 million. Employee stock-based compensation recognized was as follows (in thousands): Three months ended Nine months ended 2020 2019 2020 2019 Cost of revenue $ 66 $ 28 $ 740 $ 58 Engineering, research, and development 621 12 1,678 143 Sales and marketing 808 6 2,545 34 General and administrative 3,631 83 8,621 1,790 Total stock-based compensation $ 5,126 $ 129 $ 13,584 $ 2,025 As of September 30, 2020 and 2019, there was approximately $31.4 million and $4.5 million of unrecognized stock-based compensation expense, respectively.

Earnings per share

Earnings per share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings per share	Note 10 — Earnings per share The Company computed earnings per share (“EPS”) in conformity with the two-class method required for participating securities. Undistributed earnings allocated to participating securities are subtracted from net income in determining net income attributable to common stockholders. The Company allocated income between its common and preferred shareholders only for the periods the preferred stock was outstanding, which was January 1, 2020 to March 4, 2020 and May 6, 2019 to September 30, 2019. There was no preferred stock outstanding March 5, 2020 to September 30, 2020 and January 1, 2019 to May 6, 2019. As the Company was in a net loss position for the periods between January 1, 2020 to March 4, 2020 and March 5, 2020 to September 30, 2020, the net loss was allocated entirely to common shareholders. All participating securities are excluded from basic weighted-average number of common shares outstanding. Diluted EPS is computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding stock options, restricted stock units, performance stock units, and convertible preferred securities. The dilutive effect of potentially dilutive securities is reflected in diluted EPS in order of dilution and by application of the treasury stock method and the if-converted method for stock-based compensation and convertible preferred securities, respectively. The following table sets forth the computation of basic and diluted EPS of common stock as follows (in thousands except per share data): Three months ended Nine months ended 2020 2019 2020 2019 Numerator for basic earnings/(loss) per share Net income/(loss) $ (1,117 ) $ 4,453 $ (7,879 ) $ 8,700 Less: Income attributable to preferred shareholders - (206 ) - (280 ) Net income/(loss) available to common shareholders (1,117 ) 4,247 (7,879 ) 8,420 Denominator for basic earnings per share Weighted-average shares outstanding – basic 49,651 21,644 43,074 20,941 Basic earnings/(loss) per share $ (0.02 ) $ 0.20 $ (0.18 ) $ 0.40 Numerator for diluted earnings/(loss) per share Net income/(loss) available to common shareholders $ (1,117 ) $ 4,247 $ (7,879 ) $ 8,420 Add-back: Income allocated to preferred shareholders assumed converted - 206 - 280 Net income/(loss) available to common shareholders (1,117 ) 4,453 (7,879 ) 8,700 Denominator for diluted earnings/(loss) per share Basic weighted-average common shares outstanding 49,651 21,644 43,074 20,941 Add: Preferred stock assumed converted into common stock - 1,048 - 564 Weighted-average shares outstanding for diluted earnings per share 49,651 22,692 43,074 21,505 Diluted earnings/(loss) per share $ (0.02 ) $ 0.20 $ (0.18 ) $ 0.40 The denominator used in the calculation of basic and diluted EPS has been retrospectively adjusted for the recapitalization of the Company’s shares as a result of the Business Combination as further described in Note 3. The following potential common shares, presented based on amounts outstanding at each period end and adjusted for the stock split as a result of the transaction, were excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect: Three months ended Nine months ended Potential common shares (in ‘000s) 2020 2019 2020 2019 Convertible preferred stock - - 1,048 - Stock options to purchase common stock 6,467 6,786 8,676 7,370 Restricted stock units 2,963 - 2,993 - Performance stock units 1,292 - 1,292 - Warrants to purchase common stock 11,347 - 11,347 - Total 22,069 6,786 25,356 7,370

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Note 11 — Commitments and contingencies Legal Matters The Company is subject to legal proceedings and claims that arise in the ordinary course of its business. Management evaluates each claim and provides for potential loss when the claim is probable to be paid and reasonably estimable. While adverse decisions in certain of these litigation matters, claims and administrative proceedings could have a material effect on a particular period’s results of operations, subject to the uncertainties inherent in estimating future costs for contingent liabilities, management believes that any future accruals with respect to these currently known contingencies would not have a material effect on the financial condition, liquidity or cash flows of the Company. There were no amounts required to be reflected in these consolidated financial statements related to contingencies.

Subsequent events

Subsequent events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent events	Note 12 — Subsequent events The Company performed its subsequent event procedures through November 5, 2020, the date these condensed consolidated financial statements were issued.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP. Although ChaSerg was the legal acquirer, for accounting purposes, GDI was deemed to be the accounting acquirer. GDI was determined to be the accounting acquirer based on evaluation of the following facts and circumstances: ● GDI holds executive management roles for the Company and those individuals are responsible for the day-to-day operations; ● GDI’s former owners have the largest minority voting rights in the Company; ● From a revenue and business operation standpoint, GDI was the larger entity in terms of relative size; ● GDI’ San Ramon, CA headquarters are the headquarters of the Company; and ● The intended strategy of the Company will continue GDI’s strategy of driving enterprise-level digital transformation in the Fortune 1000 companies. In conjunction with the Business Combination, outstanding shares of GDI were converted into common stock of the Company, par value $0.0001 per share, shown as a recapitalization, and the net assets of ChaSerg were acquired at historical cost, with no goodwill or other intangible assets recorded. GDI was deemed to be the predecessor of the Company, and the consolidated assets and liabilities and results of operations prior to the Closing (for the year ended December 31, 2019 and three months ended March 31, 2020 and for the three
Principles of consolidation	Principles of consolidation The accompanying condensed financial statements include the accounts of the Company and all of its subsidiaries that are directly or indirectly owned or controlled. Intercompany transactions and balances have been eliminated upon consolidation.
Use of estimates	Use of estimates The preparation of the consolidated condensed financial statements in accordance with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from these estimates and such differences could be material. Significant estimates include useful lives and recoverability of property and equipment, allowances for receivables, calculation of accrued liabilities, capitalization of internally developed software, stock-based compensation, determination of provision for income taxes and uncertain tax positions.
Certain significant risks and uncertainties	Certain significant risks and uncertainties The Company is subject to risks, including but not limited to customer concentration, concentrations of credit and foreign currency risks. Refer to Note 4 below for additional information. Additionally, the Company has been impacted by the recent coronavirus (“COVID-19”) pandemic. The global pandemic of COVID-19 has negatively affected the U.S. and global economy, disrupted global supply chains, resulted in significant travel and transport restrictions, including mandated closures and orders to “shelter-in-place,” and created significant disruption of the financial market. The COVID-19 pandemic has impacted the Company’s revenues and the Company’s business continues to be exposed to risks and uncertainties related to the pandemic. The impact of the COVID-19 pandemic has been more pronounced with the Company’s retail customers, which depend on keeping their stores open. Additionally, in situations where the Company’s customers encounter financial difficulties, there is a risk associated with the Company’s inability to collect money from customers. The Company has taken several actions to deal with the COVID-19 pandemic. These include enabling its employees to work from home, company-wide salary and compensation cuts, hiring freezes, and suspending all non-essential travel. The ultimate impact and the extent to which the COVID-19 pandemic will continue to affect the business, results of operation and financial condition is difficult to predict and depends on numerous evolving factors outside of the Company’s control including: the duration and scope of the pandemic; government, social, business and other actions that have been and will be taken in response to the pandemic; and the effect of the pandemic on short and long-term general economic conditions.
Cash and cash equivalents	Cash and cash equivalents The Company considers cash equivalents to be highly liquid investments with original maturities of three months or less from the date of purchase. Cash equivalents are stated at cost, which approximates fair value. At times, cash deposits with banks may exceed federally insured limits.
Accounts receivable and allowance for doubtful accounts	Accounts receivable and allowance for doubtful accounts Accounts receivable, less allowance for doubtful accounts, reflect the net realizable value of receivables and approximate fair value. The Company maintains an allowance against accounts receivable for the estimated probable losses on uncollectible accounts. The allowance is based upon historical loss experience, current economic conditions within the industries the Company serves as well as determination of the specific risk related to certain customers. Accounts receivable are charged off against the reserve when, in management’s estimation, further collection efforts would not result in a reasonable likelihood of receipt. The allowance for doubtful accounts balance increased $0.4 million as of September 30, 2020 compared to December 31, 2019. As of September 30, December 31, Trade accounts receivable $ 16,052 $ 13,913 Allowance for doubtful accounts (418 ) (20 ) Total trade accounts receivable, net $ 15,634 $ 13,893
Revenue recognition	Revenue recognition The Company accounts for a contract with a customer when 1) the parties to the contract have approved the contract and are committed to performing their respective obligations, 2) the contract identifies each party’s rights regarding the goods or services to be transferred, 3) the contract identifies the payment terms for the goods or services to be transferred, 4) the contract has commercial substance, and 5) collection of substantially all consideration pursuant to the contract is probable. The Company derives its revenue from offering a suite of digital engineering and information technology (“IT”) consulting services, including digital transformation strategy, emerging technology, lean labs and legacy system replatforming. For most contracts, the Company uses master agreements to govern the overall relevant terms and conditions of the business arrangement between the Company and its customers. When the Company and a customer enter into a Master Services Agreement (“MSA”), purchases are generally made by the customer via a statement of work (“SOW”) which explicitly references the MSA and specifies the services to be delivered. Fees for these contracts may be in the form of time-and-materials or fixed-fee arrangements. The majority of the Company’s revenues are generated under time-and-material contracts which are billed using hourly rates to determine the amounts to be charged directly to the customer. Fees are billed and collected as stipulated in the contract, and revenue is recognized as services are performed. If there is an uncertainty about the receipt of payment for the services, revenue is recognized to the extent that a significant reversal of revenue would not be probable. Consulting services revenue is a single performance obligation earned through a series of distinct daily services and may include services such as those described above. The Company recognizes revenue for services over time as the customer simultaneously receives and consumes the benefits as the Company performs IT consulting services. For time-and-materials contracts, the customer derives value from the Company providing daily consulting services, and the value derived corresponds to the labor hours expended. Therefore, the Company measures the progress and recognizes revenue using an effort-based input method. For fixed fee contracts, the Company recognizes revenue as the work is performed, the monthly calculation of which is based upon actual labor hours incurred and level of effort expended throughout the duration of the contract. For time-and-material contracts, the Company applies the variable consideration allocation exception. Therefore, instead of allocating the variable consideration to the entire performance obligation, the Company determined the variable consideration should be allocated to each distinct service to which the variable consideration relates, which is providing the customer daily consulting services. The Company also offers volume discounts or early settlement discounts. Volume discounts apply once the customer reaches certain contractual spend thresholds. Early settlement discounts are issued contingent upon the timing of the payment from the customer. If the consideration promised in a contract includes a variable amount, the Company only includes estimated amounts of consideration in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. These estimates may require management to make subjective judgments and to make estimates about the effects of matters inherently uncertain. The determination of whether to constrain consideration in the transaction price are based on information (historical, current and forecasted) that is reasonably available to the Company, taking into consideration the type of customer, the type of transaction and the specific facts and circumstances of each arrangement. Although the Company believes that its approach in developing estimates and its reliance on certain judgments and underlying inputs is reasonable, actual results may differ from management’s estimates, judgments and assumptions. These estimates have historically not been material to the consolidated financial statements.
Remaining performance obligation	Remaining performance obligation ASC 606 requires that the Company disclose the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied as of September 30, 2020. This disclosure is not required for: 1) contracts with an original duration of one year or less, including contracts that can be terminated for convenience without a substantive penalty, 2) contracts for which the Company recognizes revenues based on the right to invoice for services performed, 3) variable consideration allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation in accordance with ASC 606-10-25-14(b), for which the criteria in ASC 606-10-32-40 have been met, or 4) variable consideration in the form of a sales-based or usage-based royalty promised in exchange for a license of intellectual property. All of the Company’s contracts met one or more of these exemptions as of September 30, 2020.
Income taxes	Income taxes The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred income taxes are recognized for the tax consequences of temporary differences between the financial statement carrying amounts and the tax basis of the assets and liabilities. The determination of the provision for income taxes requires significant judgment, the use of estimates and the interpretation and application of complex tax laws. The provision for income taxes reflects a combination of income earned and taxed in the various U.S. federal and state, international and other jurisdictions. Jurisdictional tax law changes, increases or decreases in permanent differences between book and tax items, accruals or adjustments of accruals for tax contingencies or valuation allowances, and the change in the mix of earnings from these taxing jurisdictions all affect the overall effective tax rate. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion, or all, of the deferred tax assets will not be realized. Management considers all available evidence, both positive and negative, in determining whether a valuation allowance is required. Such evidence includes prior earnings history, the scheduled reversal of deferred tax liabilities, projected future taxable income, carryback and carryforward periods of tax attributes, and tax planning strategies that could potentially enhance the likelihood of realization of a deferred tax asset in making this assessment. The weight given to the positive and negative evidence is commensurate with the extent to which the evidence may be objectively verified. The Company evaluates for uncertain tax positions at each balance sheet date. When it is more likely than not that a position will be sustained upon examination by a tax authority that has full knowledge of all relevant information, the Company measures the amount of tax benefit from the position and records the largest amount of tax benefit that is greater than 50% likely of being realized after settlement with a tax authority. The Company’s policy for interest and/or penalties related to underpayments of income taxes is to include interest and penalties in income tax expense.
Restructuring	Restructuring The Company initiated a restructuring plan focused on optimizing utilization. For the three months ended September 30, 2020 and for the nine months ended September 30, 2020, the Company incurred and paid total restructuring expenses of $0.1 million and $0.9 million, respectively, which mostly included employee termination costs. This amount is included as a component of general and administrative expenses in the condensed consolidated financial statements.
Recently adopted accounting pronouncements	Recently adopted accounting pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (the “FASB”), in the form of Accounting Standards Updates (“ASUs”), to the FASB’s ASC. The Company has elected not to opt out of the extended transition period and thus when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement In October 2018, the FASB issued ASU No. 2018-17, “ Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities
Recently issued accounting pronouncements	Recently issued accounting pronouncements The Company considered the applicability and impact of all ASUs. ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases Financial Instruments — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842), In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326) — Measurement of Credit Losses on Financial Instruments Codification Improvements to Topic 326, Financial Instruments — Credit Losses, Financial Instruments — Credit Losses (Topic 326): Targeted Transition Relief, Financial Instruments—Credit Losses (Topic 326) Leases (Topic 842). Financial Instruments — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842), In December 2019, the FASB issued Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In March 2020, FASB issued ASU No. 2020-03, Codification to Financial Instruments.

Basis of presentation and sum_2

Basis of presentation and summary of significant accounting policies (Tables)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Schedule of accounts receivable and allowance for doubtful accounts	As of September 30, December 31, Trade accounts receivable $ 16,052 $ 13,913 Allowance for doubtful accounts (418 ) (20 ) Total trade accounts receivable, net $ 15,634 $ 13,893

Business combination (Tables)

Business combination (Tables)	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Schedule of consideration for business combination	(in thousands, except for share and per share amounts) Shares transferred at Closing 27,006,251 Less: Post-Closing share adjustment (857,143 ) Total shares transferred at Closing 26,149,108 Value per share 10.19 Total share consideration $ 266,459 Plus: Cash transferred to GDI stockholders 130,000 Closing merger consideration $ 396,459

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Estimated Useful As of Life September 30, December 31, Computers and equipment 3 $ 5,580 $ 5,470 Machinery and automobiles 5 162 129 Furniture and fixtures 7 457 544 Software 5 513 407 Leasehold improvements 7 153 119 6,865 6,669 Less: Accumulated depreciation and amortization (4,388 ) (3,784 ) 2,477 2,885 Capitalized software development costs 2 3,395 2,478 Less: Accumulated amortization (1,903 ) (1,339 ) 1,492 1,139 Property and equipment, net $ 3,969 $ 4,024

Accrued liabilities (Tables)

Accrued liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Schedule of accrued liabilities	As of September 30, December 31, Accrued customer discounts $ 334 $ 298 Accrued retention bonus - 648 Other accrued liabilities 278 242 Total accrued liabilities $ 612 $ 1,188

Stock-based compensation (Table

Stock-based compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of conversion of the vested and unvested options	Options Outstanding Balance at December 31, 2019 2,734,327 Cashed out (828,590 ) Forfeited (18,940 ) Balance at March 31, 2020 (prior to exchange ratio conversion) 1,886,797 Converted vested balance 4,313,917 Converted unvested balance 364,094 Balance at March 31, 2020 (post to exchange ratio conversion) 4,678,011
Schedule of estimated grant using the black-scholes	2020 Dividend yield 0 % Expected volatility 40 % Risk-free interest rate 0.31%-0.80 % Expected term in years 6.11 Grant date fair value of common stock $6.86-8.26
Schedule of stock-based compensation plans	Three months ended Nine months ended 2020 2019 2020 2019 Cost of revenue $ 66 $ 28 $ 740 $ 58 Engineering, research, and development 621 12 1,678 143 Sales and marketing 808 6 2,545 34 General and administrative 3,631 83 8,621 1,790 Total stock-based compensation $ 5,126 $ 129 $ 13,584 $ 2,025

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per share	Three months ended Nine months ended 2020 2019 2020 2019 Numerator for basic earnings/(loss) per share Net income/(loss) $ (1,117 ) $ 4,453 $ (7,879 ) $ 8,700 Less: Income attributable to preferred shareholders - (206 ) - (280 ) Net income/(loss) available to common shareholders (1,117 ) 4,247 (7,879 ) 8,420 Denominator for basic earnings per share Weighted-average shares outstanding – basic 49,651 21,644 43,074 20,941 Basic earnings/(loss) per share $ (0.02 ) $ 0.20 $ (0.18 ) $ 0.40 Numerator for diluted earnings/(loss) per share Net income/(loss) available to common shareholders $ (1,117 ) $ 4,247 $ (7,879 ) $ 8,420 Add-back: Income allocated to preferred shareholders assumed converted - 206 - 280 Net income/(loss) available to common shareholders (1,117 ) 4,453 (7,879 ) 8,700 Denominator for diluted earnings/(loss) per share Basic weighted-average common shares outstanding 49,651 21,644 43,074 20,941 Add: Preferred stock assumed converted into common stock - 1,048 - 564 Weighted-average shares outstanding for diluted earnings per share 49,651 22,692 43,074 21,505 Diluted earnings/(loss) per share $ (0.02 ) $ 0.20 $ (0.18 ) $ 0.40
Schedule of diluted net loss per share attributable to common stockholders	Three months ended Nine months ended Potential common shares (in ‘000s) 2020 2019 2020 2019 Convertible preferred stock - - 1,048 - Stock options to purchase common stock 6,467 6,786 8,676 7,370 Restricted stock units 2,963 - 2,993 - Performance stock units 1,292 - 1,292 - Warrants to purchase common stock 11,347 - 11,347 - Total 22,069 6,786 25,356 7,370

Background and nature of oper_2

Background and nature of operations (Details)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Business combination description	On March 5, 2020 (the “Closing”), the Company consummated its business combination with Grid Dynamics International, Inc. (“GDI”) pursuant to the Agreement and Plan of Merger (the “Merger Agreement”), dated November 13, 2019 (the “Business Combination”). In connection with the Closing, the Company changed its name from ChaSerg Technology Acquisition Corp. to Grid Dynamics Holdings, Inc. The Company’s common stock is now listed on the NASDAQ under the symbol “GDYN” and warrants to purchase the common stock at an exercise price of $11.50 per share are listed on the NASDAQ under the symbol “GDYNW.”

Basis of presentation and sum_3

Basis of presentation and summary of significant accounting policies (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Common stock,par value (in Dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Cash proceeds from trust account		$ 85.1
Increase allowance for doubtful accounts		0.4
Payments for restructuring	$ 0.1	$ 0.9

Basis of presentation and sum_4

Basis of presentation and summary of significant accounting policies (Details) - Schedule of accounts receivable and allowance for doubtful accounts - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule of accounts receivable and allowance for doubtful accounts [Abstract]
Trade accounts receivable	$ 16,052	$ 13,913
Allowance for doubtful accounts	(418)	(20)
Total trade accounts receivable, net	$ 15,634	$ 13,893

Business combination (Details)

Business combination (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 05, 2020	Sep. 30, 2020
Business combination (Details) [Line Items]
Business combination, description	ChaSerg consummated its business combination with GDI pursuant to the Merger Agreement. Fees and expenses paid in connection with the Business Combination were settled using funds from the trust account. Immediately following the Business Combination, there were 50,833,619 shares of common stock with a par value of $0.0001, and 11,346,500 warrants outstanding.	The aggregate consideration for the Business Combination was $396.5 million, consisting of $130.0 million in cash and 27,006,251 shares of ChaSerg’s common stock valued at $10.19 per share, less a post-Closing share adjustment amount of 857,143 shares which were placed in escrow post-Closing. The shares transferred at Closing included 4,313,917 options to purchase the Company’s shares that were vested, outstanding and unexercised, which were determined using 1,739,932 vested options at Closing converted at an exchange ratio of approximately 2.48. Additionally, 364,094 options to purchase the Company’s common stock that were unvested, outstanding and unexercised were assumed by the Company, which were determined using 146,865 unvested options at Closing converted at an exchange ratio of approximately 2.48.
Sale of stock, description		Reported shares and earnings per share available to holders of the Company’s common stock, prior to the Business Combination, have been retroactively restated as shares reflecting the exchange ratio established in the Business Combination (approximately 1.685 GDH shares to 1.0 GDI share).
Shares redeemed		51,715
Price per share		$ 10.21
Legal and professional fees		$ 4.7
Business combination cost description		In connection with the Business Combination, all outstanding retention bonus obligations from a 2017 acquisition totaling $3,363,000 were accelerated and paid in full to Grid Dynamics’ personnel immediately prior to the Closing and were recorded in the cost of revenue and operating expenses in the condensed consolidated financial statements.
Reduction of Proceeds [Member]
Business combination (Details) [Line Items]
Legal and professional fees		$ 4.1
General and Administrative Expense [Member]
Business combination (Details) [Line Items]
Legal and professional fees		$ 0.6

Business combination (Details)

Business combination (Details) - Schedule of consideration for business combination $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares
Schedule of consideration for business combination [Abstract]
Shares transferred at Closing | shares	27,006,251
Less: Post-Closing share adjustment | shares	(857,143)
Total shares transferred at Closing | shares	26,149,108
Value per share | $ / shares	$ 10.19
Total share consideration | $	$ 266,459
Plus: Cash transferred to GDI stockholders | $	130,000
Closing merger consideration | $	$ 396,459

Concentrations of credit risk (

Concentrations of credit risk (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Accounts Receivable [Member]
Concentrations of credit risk (Details) [Line Items]
Number of customers			2		3
Concentration risk percentage			10.00%		10.00%
Unbilled Receivables [Member]
Concentrations of credit risk (Details) [Line Items]
Number of customers			4		2
Concentration risk percentage			10.00%
Sales [Member]
Concentrations of credit risk (Details) [Line Items]
Number of customers	2	3	2	3
Concentration risk percentage	10.00%		10.00%	10.00%

Property and Equipment, net (De

Property and Equipment, net (Details) - Schedule of property and equipment - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Tangible property and equipment, gross	$ 6,865	$ 6,669
Less: Accumulated depreciation and amortization	(4,388)	(3,784)
Tangible property and equipment, net	2,477	2,885
Less: Accumulated amortization	(1,903)	(1,339)
Intangible property and equipment, net	1,492	1,139
Property and equipment, net	$ 3,969	4,024
Capitalized software development costs [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	2 years
Capitalized software development costs	$ 3,395	2,478
Computers and equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	3 years
Tangible property and equipment, gross	$ 5,580	5,470
Machinery and automobiles [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	5 years
Tangible property and equipment, gross	$ 162	129
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	7 years
Tangible property and equipment, gross	$ 457	544
Software [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	5 years
Tangible property and equipment, gross	$ 513	407
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	7 years
Tangible property and equipment, gross	$ 153	$ 119

Accrued liabilities (Details) -

Accrued liabilities (Details) - Schedule of accrued liabilities - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule of accrued liabilities [Abstract]
Accrued customer discounts	$ 334	$ 298
Accrued retention bonus		648
Other accrued liabilities	278	242
Total accrued liabilities	$ 612	$ 1,188

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 27, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expense		$ (0.1)	$ 1	$ (3.6)	$ 2.6
Effective tax rate		8.10%	19.00%	31.30%	23.10%
CARES Act description	The CARES Act contains several corporate income tax provisions, including making remaining alternative minimum tax credits immediately refundable; providing a 5-year carryback of net operating loss carryforwards (“NOLs”) generated in tax years 2018, 2019, and 2020, and removing the 80% taxable income limitation on utilization of those NOLs if carried back to prior tax years or utilized in tax years beginning before 2021; and temporarily liberalizing the interest deductibility rules under Section 163(j) of the Tax Cuts and Jobs Act, by raising the adjusted taxable income limitation from 30% to 50% for tax years 2019 and 2020 and giving taxpayers the election of using 2019 adjusted taxable income for purposes of computing 2020 interest deductibility.

Stockholders' equity (Details)

Stockholders' equity (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Stockholders' equity (Details) [Line Items]
Common stock, shares authorized	110,000,000	110,000,000
Shares issued	50,859,760	21,644,392
Common stock, shares outstanding	50,859,760	21,644,392
Earnout shares, description	1)399,999; 400,000; and 400,001 Earnout Shares vest if the closing price of the Company’s common stock on the principal exchange on which the securities are listed or quoted have been at or about $12.00; $13.50; and $15.00 per share, respectively, for 20 trading days (which need not be consecutive) over a thirty trading day period at any time;
Voting rights, percentage	50.10%
Voting rights description	4)The Company and/or its subsidiaries sell, assign, transfer or otherwise dispose of (including by bulk reinsurance outside of the ordinary course of business consistent with past practice), in one or a series of related transactions, all or substantially all of the assets of the Company and its subsidiaries, taken as a whole, to an Acquiror, fewer than 50.1% (whether by voting or economic rights) of the outstanding equity securities or other capital interests of which, immediately following such sale, assignment or transfer, are owned in the aggregate by the pre-transaction Company stockholders; or
Percentage of shares outstanding	50.00%
Warrants outstanding	11,346,500
Issuance of private placement shares	640,000
Shares issued on conversion of a working capital	53,000
Price per share (in Dollars per share)	$ 11.50
Description of debt maturity date	Each warrant is currently exercisable and will expire March 5, 2025 (five years after the completion of the Business Combination), or earlier upon redemption or liquidation.
Stockholders’ equity, description	The Company may call the warrants for redemption at a price of $0.01 per warrant upon a minimum 30 days’ prior written notice of redemption, if and only if, the reported last sale price of the Company’s common stock equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending three business days before the Company sends the notice of redemption to the warrant holders; and if and only if, there is a current registration statement in effect with respect to the shares of common stock underlying such warrants.
Warrant price per share (in Dollars per share)	$ 0.01
GDI [Member]
Stockholders' equity (Details) [Line Items]
Preferred shares, par value (in Dollars per share)	$ 0.0001
IPO [Member]
Stockholders' equity (Details) [Line Items]
Shares issued	22,000,000
Common Stock [Member]
Stockholders' equity (Details) [Line Items]
Common stock, shares authorized	110,000,000
Shares issued	50,833,619
Common stock, shares outstanding	50,859,760
Common stock shares, description	a) 26,888,285 shares were issued to the stockholders of ChaSerg who did not redeem their shares, b) 1,200,000 shares legally issued and outstanding to the ChaSerg Founders and underwriter subject to earnout provisions as discussed further below, c) 53,000 shares issued to the Sponsor of ChaSerg (the “Sponsor”) at $10.00 per share as the result of a promissory note of $0.5 million converted to the Company’s common stock, d) 19,490,295 shares issued to GDD International Holding Company, e) 2,094,850 shares issued to BGV Opportunity Fund, L.P., and f) 1,133,330 shares issued to former shareholders of GDI. Additionally at Closing, there were 4,313,917 outstanding vested options to purchase the Company’s common stock.
Earnout shares, description	At the Closing, the Company had 1,200,000 shares of common stock issued and outstanding subject to earnout provisions (the “Earnout Shares”).
Price per share (in Dollars per share)	$ 18
Preferred Stock [Member]
Stockholders' equity (Details) [Line Items]
Preferred stock, conversion basis		As of December 31, 2019 GDI had 1,047,942 shares of no par value shares of preferred stock outstanding convertible on a 1:1 basis with GDI’s common stock.
Preferred stock shares, outstanding		1,047,942

Stock-based compensation (Detai

Stock-based compensation (Details) - USD ($)	Aug. 03, 2020	May 04, 2020	Mar. 13, 2020	Mar. 05, 2020	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2020	Sep. 30, 2019
Stock-based compensation (Details) [Line Items]
Vested options outstanding (in Shares)							1,739,932
Unvested options outstanding (in Shares)							146,865
Number of shares forfeited (in Shares)						18,940
Proceeds from stock options exercised							$ 78,000	$ 1,700,000
Aggregated fair value granted							$ 6,100,000
Straight-line basis over term							3 years 5 months 26 days
Option granted per share (in Dollars per share)							$ 8.17
Maximum payout, percentage		300.00%
Contribution margin performance, description							Fifty percent (50%) of the target number of performance shares granted will vest (if at all) based on the extent of achievement of Revenue Growth for the Performance Period and the remaining fifty percent (50%) of the target number of performance shares granted will vest (if at all) based on the extent of achievement of the Contribution Margin.
Stock based compensation expense					$ 3,100,000		$ 5,100,000
Stock based compensation, description							The Company classifies awards issued under the stock-based compensation plans as equity. Total compensation expense for the three months ended September 30, 2020 was $5.1 million, which included $0.02 million of compensation expense related to the 2018 Stock Plan and the rest of compensation expense related to the 2020 Plan. Total compensation expense for the three months ended September 30, 2019 was $0.1 million. Total compensation expense for the nine months ended September 30, 2020 was $13.6 million, which included $2.0 million of compensation expense related to the 2018 Stock Plan, $2.5 million of compensation expense related to the acceleration of vesting of awards under the 2018 Stock Plan, and the rest of compensation expense related to the 2020 Plan. Total compensation expense for the nine months ended September 30, 2019 was $2.0 million.
Unrecognized stock-based compensation expense							$ 31,400,000	$ 4,500,000
NSO [Member]
Stock-based compensation (Details) [Line Items]
Options granted	$ 105,500	$ 239,400	$ 1,552,100
Aggregated fair value granted							1,897,000
Restricted Stock Units (RSUs) [Member]
Stock-based compensation (Details) [Line Items]
Options granted							$ 2,993,455
Straight-line basis over term							3 years 5 months 4 days
Options granted (in Shares)							15,120
2020 Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Stock-based compensation (Details) [Line Items]
Options granted							$ 24,500,000
2020 Equity Incentive Plan [Member] | Restricted Stock [Member]
Stock-based compensation (Details) [Line Items]
Unrecognized compensation expenses							$ 21,000,000
2018 Stock Plan [Member]
Stock-based compensation (Details) [Line Items]
Stock options vested, shares (in Shares)					2,568,523		2,568,523
Increase to additional paid-in capital							$ 2,500,000
Number of shares forfeited (in Shares)							28,641
Shares exercised (in Shares)							22,217
Proceeds from stock options exercised							$ 100,000
Number of shares exercisable (in Shares)					4,357,125		4,357,125
Average exercise price of shares exercisable (in Dollars per share)					$ 3.54		$ 3.54
2018 Stock Plan [Member] | Minimum [Member]
Stock-based compensation (Details) [Line Items]
Exercise prices (in Dollars per share)					3.51		3.51
2018 Stock Plan [Member] | Maximum [Member]
Stock-based compensation (Details) [Line Items]
Exercise prices (in Dollars per share)					$ 3.54		$ 3.54
2020 Equity Incentive Plan [Member]
Stock-based compensation (Details) [Line Items]
Incentive stock options (in Shares)				16,300,000
Unrecognized compensation expenses							$ 4,900,000
Issuance of option granted (in Shares)		574,188
2020 Equity Incentive Plan [Member]
Stock-based compensation (Details) [Line Items]
Percentage of maximum payout							300.00%
2020 Equity Incentive Plan [Member] | NSO [Member]
Stock-based compensation (Details) [Line Items]
Options granted							$ 1,897,000
2020 Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Stock-based compensation (Details) [Line Items]
Options granted							2,993,455
2020 Equity Incentive Plan [Member] | Phantom Share Units (PSUs) [Member]
Stock-based compensation (Details) [Line Items]
Options granted							$ 574,188

Stock-based compensation (Det_2

Stock-based compensation (Details) - Schedule of conversion of the vested and unvested options	3 Months Ended
	Mar. 31, 2020shares
Schedule of conversion of the vested and unvested options [Abstract]
Options outstanding, balance at beginning	2,734,327
Options outstanding, Cashed out	(828,590)
Options outstanding, Forfeited	(18,940)
Options outstanding, balance at March 31, 2020 (prior to exchange ratio conversion)	1,886,797
Options outstanding, converted vested balance	4,313,917
Options outstanding, converted unvested balance	364,094
Options outstanding, balance at March 31, 2020 (post to exchange ratio conversion)	4,678,011

Stock-based compensation (Det_3

Stock-based compensation (Details) - Schedule of estimated grant using the black-scholes	9 Months Ended
	Sep. 30, 2020$ / shares
Stock-based compensation (Details) - Schedule of estimated grant using the black-scholes [Line Items]
Dividend yield	0.00%
Expected volatility	40.00%
Expected term in years	6 years 1 month 9 days
Minimum [Member]
Stock-based compensation (Details) - Schedule of estimated grant using the black-scholes [Line Items]
Risk-free interest rate	0.31%
Grant date fair value of common stock (in Dollars per share)	$ 6.86
Maximum [Member]
Stock-based compensation (Details) - Schedule of estimated grant using the black-scholes [Line Items]
Risk-free interest rate	0.80%
Grant date fair value of common stock (in Dollars per share)	$ 8.26

Stock-based compensation (Det_4

Stock-based compensation (Details) - Schedule of stock-based compensation plans - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Schedule of stock-based compensation plans [Abstract]
Cost of revenue	$ 66	$ 28	$ 740	$ 58
Engineering, research, and development	621	12	1,678	143
Sales and marketing	808	6	2,545	34
General and administrative	3,631	83	8,621	1,790
Total stock-based compensation	$ 5,126	$ 129	$ 13,584	$ 2,025

Earnings per share (Details) -

Earnings per share (Details) - Schedule of computation of basic and diluted earnings per share - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator for basic earnings/(loss) per share
Net income/(loss)	$ (1,117)	$ (2,166)	$ (4,596)	$ 4,453	$ 3,535	$ 712	$ (7,879)	$ 8,700
Less: Income attributable to preferred shareholders (in Shares)				(206)				(280)
Net income/(loss) available to common shareholders	$ (1,117)			$ 4,247			$ (7,879)	$ 8,420
Denominator for basic earnings per share
Weighted-average shares outstanding – basic (in Shares)	49,651			21,644			43,074	20,941
Basic earnings/(loss) per share (in Dollars per share)	$ (0.02)			$ 0.20			$ (0.18)	$ 0.40
Numerator for diluted earnings/(loss) per share
Net income/(loss) available to common shareholders	$ (1,117)			$ 4,247			$ (7,879)	$ 8,420
Add-back: Income allocated to preferred shareholders assumed converted				206				280
Net income/(loss) available to common shareholders	$ (1,117)			$ 4,453			$ (7,879)	$ 8,700
Denominator for diluted earnings/(loss) per share
Basic weighted-average common shares outstanding (in Dollars per share)	$ 49,651			$ 21,644			$ 43,074	$ 20,941
Add: Preferred stock assumed converted into common stock (in Shares)				1,048				564
Weighted-average shares outstanding for diluted earnings per share (in Shares)	49,651			22,692			43,074	21,505
Diluted earnings/(loss) per share (in Dollars per share)	$ (0.02)			$ 0.20			$ (0.18)	$ 0.40

Earnings per share (Details) _2

Earnings per share (Details) - Schedule of diluted net loss per share attributable to common stockholders - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Schedule of diluted net loss per share attributable to common stockholders [Abstract]
Convertible preferred stock			1,048
Stock options to purchase common stock	6,467	6,786	8,676	7,370
Restricted stock units	2,963		2,993
Performance stock units	1,292		1,292
Warrants to purchase common stock	11,347		11,347
Total	22,069	6,786	25,356	7,370