GDYN - Earnings call transcript Q2 2024 | Grid Dynamics Holdings, Inc.

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Cary Savas

Good afternoon, everyone. Welcome to Grid Dynamics Second Quarter 2024 Earnings Conference Call. I'm Cary Savas, Director of Branding and Communications. [Operator Instructions] Joining us on the call today are CEO, Leonard Livschitz; and CFO, Anil Doradla.

Following their prepared remarks, we will open the call to your questions. conference recorded. today's that note is being Please

to Before that release other statements. today's I subject would to the This statements SEC. and filings questions. remind in everyone like to the answers and with discussion outlook as our the and the we of are and business your Such begin, includes financial some uncertainty will described risks contain forward-looking earnings company's

financial our call, and we certain performance. filed X-K will information GAAP provided supplemental reconciliations of SEC. are press non-GAAP this financial During release earnings non-GAAP to with discuss the the measures the in and

find can turn all Investor the I our now section of CEO. website. You the to just described in over I'll the information call Relations our Leonard,

Leonard Livschitz

everyone, important today. second and of to an joining the achieved and all and were afternoon, nature. for Wall quarter. and results quarter revenue it We Good was Grid in second our expectations, the history you us happy guidance in above range revenue non-GAAP Street exceeded thank highest Cary. quarter organic I'm you, milestones on Dynamics company's EBITDA. our both was that report the Thank

laser course is maintain a that customers Grid testament and clear in Dynamics to number exited the existing backdrop is history. quarter second stay also given It recent to the billable customers in and cycles. due off. with new company's and We the in engineers the economic of delivering strengths the The paying highest efforts were the results our both strong focus of to from commendable are value

unchanged. revenue sequential differentiation. reflects of $X company becoming the X% on our I second company's around quarter and goals discuss growth opportunities growth a spend stated revenue ways, customers billion the uniquely first, significant. quarter, remaining revenue therefore, and company the many profitability highlighted proportion In we're the across Last a basis Our a industry. IT were, for represents and growth our or how positioned on our These the influencing small our key factors grows of

our tied in many are cases, Second, focus, the we're to new key deals of area winning up critical. customer are mission that and

of customers finally, Third, their headwind level And many the persist customers company, have by either who reverted There facing to many we important, are of which driven of will both has shaping current being the a exciting across growth. with today. into handful I share year in trend the or were the And that's in of maintained level some shaping our in second those future. leading fourth, will reversed. brighter trends increasing. trends the these drops customers. of are XXXX just were More half you business, majority spending I our of the believe to This seeing last the XXXX

the demand Similar when outlook more customers demand the the to we the forecast Incrementally, plans. of our customers. witnessed across to were and environment. focused sharing improving coming Now majority quarter, first last quarter on

as We the trend willing This to quarter and continue in trend such from the were expect to this benefited year plans. more implement those quarter, we the to budget progresses. release

highlighted second to coming the the as that quarter Now quarter quarter. into the I next third well. Trends regarding extend

the We outlook as activity that remaining XXXX. be positive customer look of continued formula third and to We our our and March believe AI for activities already in [indiscernible]headcount quarter basis continue in have July, the robust. we seen at this

vendor what post are call I the consolidation We in market.

IT on X the customers work highlighted to number scaling As with. been they of we vendors the have over X quarters, last back

innovation. a technology in and and the to in business partner. partnering Dynamics strong many excellence and heightening top. X/X Grid operational one Dynamics customer with benchmark our won and situations, the both These them there the Time revenue and has in technology catalyst enterprises. as that our innovative industries. by being empowering to quarter, enhancing best more to now X the approximately industry our thrilled example, and engineering expanded cost. one modern capabilities a and an digital As companies on navigate transformation most the and With again, others. achieving cost, of the of Also technological and e-commerce providers the for with strategic announce remaining similar projects categories, revenue brand, the across industry Fortune in and complexities including XX of they of than reducing and recognition with XXX awards to reinforces AI across composable have IT that considerably, of second offering, solutions risen plan global and widespread targeting among on We reduce is focus project the of and excellence vendors for are IT company to landscape number range solution businesses various the This a Grid interest agility service more costs this

on on improvements solution pricing And focused enhance customer revenue relative regulatory focus side, efficiency complaints. decisions. cost centered the is marketing is better the and product the On our side, and and on experiences

impact beyond position We're our concepts. of a broad pilot and wanting clients. customers initial business Our offering MVP witnessing engage us well the on the to significant programs pickup us to positively results in approval

for business seeking growth opportunities are best in platform. increasingly continue we and show dozens in test to pipeline deliver productivity AI cutting-edge boosting noting well engineers. of as investments, robust and with AI to solutions AI continues efficiency, and not our adapt This but clients. also develop the the that tools sales progress. practices as Our process their internal just quick specifically and ability to It's incorporate services Enterprises our worth modernization, our AI own to active This improve prototype. of to our just extending enhance copilots, beyond goes automation coding designed tools to to legacy

enrich platform for enhancing recruiters the data business and host noteworthy Let me workforce ops seekers, harmonize process. product process. for This will customer and the developing owners, GenAI workforce and commerce titles enhanced quarter. AI AI And product few create a one part effectiveness significantly using higher second streamlines that leads U.S. platform. largest attributes, consistent analyzing to top applications we're efficiency onboarding solution This the large of projects resonate we're the comprehensive and sales and additionally, descriptions and experience And product highlight of This a with numerous management to all GenAI company, catalogs. auto a and At the breath. job provider, through channels.

in developing the non-AI both of Additionally, an process. compliance showcases X This solution, completion leading we during across AI included efficiency streamlined and firm, regulatory in environments. European how product organization, engineering, the the there AI, areas. quarter, for we're With city This and significant a our was enhance AI-enabled machine can complex significantly solutions certification learning project programs data, search. activity AI commerce regulatory

all-time were several some share Of the a consumer in architects is previous accounts. ones largest document momentum. are supply company large of processing America team business. signed projects the and European-based is trends, including on Logo customers quarter, quarter, I the the CTO you. to the North signed Partnerships were a a quarters, of In we of design One shaping of In in enterprises. quarter, improvement. one a quantity many completed, in we tailored are high store these opening our quality at financial changing. are half global second of that would like American very new home partnership the with And first leading revenue XXXX. trends of large an for XX% like logos, and and partnership lifestyle powered our new are our Some large at chains. contribution noteworthy the There of industry, The leads intelligent focus household notable conversation in them systems. X personal instrumental interior goods one department products, X and there

resulted global First, resulted greater This engineering many to in being commitment customers. technology X as chosen our excellence and of customers. innovation our Grid Tier Dynamics by in enterprise appreciation partners, has has

with our strategic Second, are with relationship We're of now our senior discussions management evolving. partners. partners key engaged more our in

Dynamics are support. projects the allocation partners. well marketing Third, enhanced of program to as All that level, global Delivery across at between include and entering our industry opportunities as and these into operational have an initiatives collaboration and and we more sales verticals. Grid the GenAI level translated

we with strategic global our organizations. the delivery progress quarter, areas made across multiple During

past, [indiscernible] operationalized, over follow-on With we global the in now X we of strategy in countries our dozen a key supports accounts. sound the accounts As provides scaling with functional now multiple locations. our highlighted locations our X them have by fully India the and of is framework headcount being top India. in

customer seeking Europe of And roughly be we with our be on and capabilities. during dynamic mid-teens business. the In Mexico, European growth. Europe, focus Hekaton, universities to our our high-quality point. strategic quarter. acquiring revenue, support tox talent interactions, continue to continue our Our of in continue Poland continued to out the anchor With nearshore activities to

GenAI enterprise and food Heritage continue GenAI or leader pharma AI-based solution. we AI expertise a our and adapting attract customer serious one client, are business testing, experiences. development improve efficiencies to in product Our At and started enable about of customers to of who

In a orchestrated provide we that On expansion, U.K.-based map retailer commerce to BXC existing homegrown existing MACH major launching their cloud. to an to using wins, supports we AI platform customer autopilot a addition we solution commerce global and technologies. were and to our are able company, platform a their migrate road the organization composable

continue in QX to technology the consolidate landscapes the client will We their business. enable expect effort and this to scale

delivered During projects. some Grid the quarter, notable Dynamics

compliance modernize regulations. global and security leading This ensured data their privacy data data with pipeline company, including platform, we strict data throughput. a governance and As technology analytics

infrastructure and Our costs efforts reduce improved performance. led to overall

the implement such we home leading the monolithic which to platform. AI-enabled commerce a platform, Azure For on search opened the as services modernize improvement retailer, legacy path

data we with breadth, client's platform American operations significantly integrates platform validated major streamlining implemented labor reducing and ERP a processing enhancing its wholesale North a business, order manual in associated For a flow system, efficiency. order orders. next-generation CPG for This

on also industry first sales. leading we out well assistance. migrated for capabilities automotive automotive experience company consolidating platform. conversational will This as product improve It's enhance as common step overall a AI customer a parts data rolling to product BXC search standards supplier, For shopping and and the a the BXB

our personalization, will footwear long-term fulfillment. X the turn further architecture the call achievement With features for was possible extending to QX a launched leveraging more country-specific MACH we the who under Anil? XX in discuss brand, brand. This developed, For global results over shipping me we that, sites let with providing detail. relationship months, in-country and Anil, in by underlying made localized

Anil Doradla

Thanks, Leonard. Good afternoon, everyone.

Our were second we EBITDA. both expectations, revenue on solid non-GAAP and as quarter results our exceeded

range wide $XX of and of industry of range of guidance $XX.X customers million from results of strong $XX million million of revenue million. our $XX.X million was our non-GAAP ahead ahead $XX our to were million, The driven quarter of a second and guidance Our across EBITDA verticals. range was $XX.X

During and respectively. the the quarter, X largest our and at retail verticals TMT our revenues, were second of XX.X% XX%

decline On Our improvement and space. customer Coming and vertical to a a a a of that On a grew sequential came year-over-year vertical, by retail respectively. we basis. on multiple both X.X% revenue from in factors retail in TMT year-over-year and decline and from couple our from the growth basis, on and and sequential a largest witnessed sequential our basis, basis, sequential security customers technology a X.X% in sequential startup it home largely grew in X.X% a decreased respectively. the included the specialty on year-over-year TMT space. X.X% basis,

mix the other the of of revenue are details verticals. Here

of in our grew increase the X Our on from and of manufacturing and vertical on CPG X.X% basis. CPG second our a X% a a quarter, Revenues sequential year-over-year represented and revenue sequential on customers an manufacturing top the drop in basis of basis. a XX.X%

year-over-year and from on and strongest, sequential the the the Our quarter, insurance growth was space. finance across to both fintech basis. vertical last a Similar customers

second the sequential Our of basis of increase on represented sequential a up showed our and a ended decrease up And revenue on health the of and and on ago of X.X% quarter. up X,XXX XX.X% the and from was total X% We total newly second of quarter in quarter a headcount of XXXX. headcount of X,XXX XXXX versus the a down care XX.X% basis and year-over-year a XX.X% headcount first pharma was our total X,XXX quarter or with other year-over-year second the represented year U.S. second a basis. X.X% vertical At employees disaggregated in of basis. company's our revenues X.X% in and the on X% XXXX, finally, quarter end the XXX from quarter the

XX.X% were and In and XX.X% year non-U.S. Americas XX%, versus quarter, and from or period was respectively. customers located a Our in headcount respectively, XX.X% and Europe, India X,XXX our the XX.X%. XX second same top top in revenues X the ago,

XXX of During total in XXXX the down XXX the XXX the quarter quarter. in customers, from ago second and had year first of a quarter, we

to decline customers, During customers of several number his primarily of our the in we efforts in remarks. quarter, added referred of our the portfolio driven prepared nonstrategic rationalize Leonard some continued which was by The year-over-year to customers.

to Moving statement. the income

during quarter million or of basis in both in profit combination ago or resources. mainly The gross utilization the XX.X% of $XX.X quarter. or of first million in levels million million in was XXXX to in percentage gross $XX.X XX.X% revenue our a basis, was better or by first and and a $XX.X sequential GAAP the non-GAAP Our ago of driven the compared XX.X% year XX.X% $XX.X dollar $XX.X million a as higher a the or On XX.X% up and quarter from the from in profit, and gross engineering or year XXXX of $XX.X million was quarter XX.X%, up profit quarter. increase on

$XX non-GAAP second of up a Our the operating on quarter. largely was or stock-based during sales, million of $XX.X million by offset year-ago of XX.X% quarter $XX.X depreciation to the basis sales reorganization, increase in related from expenses. sequential EBITDA due XXXX XX.X% expenses or and partially related geographic was other increase the from restructuring in million to first amortization, in and quarter down costs and compensation, transaction and revenues, higher The or excluded XX.X% that

shares million in quarter the count million basic or million quarter. in loss was of $X.X ago an quarter year million or to based share Our of loss a based a $XX.X or a shares and loss $X.XX of on XX.X $X.XX basic $X.X share second on XX.X of of a loss the on million income per share million compared net $X.X basic first $X.XX of count the GAAP based

from in of or second per $XX XXXX, to $X.X million shares the and On quarter. Our profit, income $X.XX this shares sequential per based million from provision diluted million in $XXX.X in share million the quarter, based million decrease on up year basis, was GAAP net the our taxes. higher levels million, a XX.X diluted Coming was based third cash $X gross range cash was of quarter first by quarter to offset totaled net million On partially on and $XX quarter our $X.XX largely XX.X compensation, lower non-GAAP million. income first revenues the shares and XXXX. income loss million of net $X.XX for be in non-GAAP in compared the $XXX or ago diluted on per non-GAAP to or XX.X share $X share to of equivalent guidance, we June expect million the XX, stock-based

EBITDA non-GAAP million. in to of expect quarter third be $XX.X We in million $XX.X to the the range

million million to range For million. our be million we QX count $XX in $XX to my $XX the be and concludes $XX XXXX, count basic our the remarks. in share to of to prepared range expect That share of diluted

ready now to are We questions. take

Operator

The from Maggie [Operator question William of first will Instructions] Nolan come Blair.

Margaret Nolan

the to for wanted about all. you I landscape Congratulations. ask talent

So passed structure rolled to you're the the as business you've as about has out. started the you some well back footprint you thought talking since hiring time reorganized since that Follow-the-Sun of

account-by-account an you and basis see all place to thinking here the might So different we about in have pieces in these that now from I'm margins on manifest P&L? you're how start managing curious that how

Leonard Livschitz

account accounts it you really right margins down the right managing that is for answered now. account just the key to comes So the question, per Well, Margret? what

when doing which regions see on execute emphasis hire expand. the Europe, There more, say, put because to smart where program. bit across again definitely We we more but promote short bring of and we're would is continues profitability in stabilized a to teams perspective, grow have deeper have for the India to with interns you the can answer the effort yes. within and as part expand But key can is we continue offering, well. keeps. we client. manage to the you key breadth as on actually And are follow-the-Sun your projects, hiring little As within. projects the of we're still cost a engineers India. The adding for efficiency all program from I is manage the the solution the we hiring And you able lot a we

Margaret Nolan

might I'm to also either maintain wondering spend. And talked is scope to then you customers as Any increase your space. even of projects in see of you have there projects, from competitors willingness that of spend? a if increased resurgence this is notable some different you their an the on the of maybe change willingness type or of projects, thoughts duration why in slightly about of

Leonard Livschitz

always to talk technology for So we scope we projects. when greatly market about around technology I impact be our that been on solutions, the the differentiation, fundamentally, think it's do Dynamics the which Grid is projects, sales. And when focused

big about a have which roll to AI. it's the implementation As to also conversation not we the base. from being broader which pro was possibility also my the a of the of the you I implement to number concept continue of But part It's know state out point internal about we solutions, noted fashionable. just

technology yes, core stays still the So focus. in

co-pilots again, which is also the specialized open we We our those are starting use as together models, with clients. source projects the expand with we And quite broadened private projects the breadth to the of, the number the there of innovative to for a deeper products implementation AI solutions clients. of platforms, our around building partnerships,

conceptual stage Grid come Dynamics the data And clients. So reputation, that over to various just which I'm to our of of managing with summarize, way, of breadth aspects broad technology certainly, from years moving implementation. focus

Cary Savas

The from goes comes of from question Gates to Citi. next TD Schwartzmann The next Cohen. Bryan Bergin question

Bryan Bergin

in I continued start the wanted implied sequential XQ the there. XQ, then to on guidance. momentum It's the nice to what's in the the see performance and

develop reinstating of just that business full you the the some whether As and to the overall as year consider thought there can on asking around visibility. perspective balance XQ you share outlook? curious a year signal into plan XQ, I'm just was

Anil Doradla

this good constant is discussion. this very is because Brian, question a So a

one of I improving. think leave Number that couple me are here. thoughts things let a is

ago me month months So installing of than what likelihood maybe is a ago. was full the guidance X X year higher ago, months a it or

moving are be ready tend direction. But we right full out. it, we inclination we as for we're put internally to to conservative. year in bias give Look, So Leonard's Street. for guidance, to try When the we much for the can as that a will it is visibility is

what on. that's So we're working

right and point. So go definitely, at more of bias out the But it. to time, a put we to get that will have we

Bryan Bergin

these then good larger And common? the trends relationships speak scaling speak the quarter pace on some logos new to in maybe of logos, signing several, here are you've in that be enterprise just the some ramping you new of may each can of too, you those but faster can to the of those had momentum that

Leonard Livschitz

the Grid past. there each a is and familiarity RapidScale, the story of the RapidScale, on with Dynamics Well, is from Usually, Byran, not the about any talking a growth, different client from years with I'm

you the, small. I new So when come logo you relationship or a partnerships, would start typically, say, relatively projects the sign from where

I partners. understand Usually, we're attention. of Grid they the it the or rapid our couple help on up. specific find approach and big field. the with clients of large of business their needs their And relationship become from basically, that picked say, And highly In land very also models. expect. reflection rapidly to enterprise that maybe we technical firms. Dynamics Perhaps from the a technology influences So thought to still it's kind it's shifting referrals focused, would didn't

helps to saving. time. best clients need astute, leadership long it had don't be more anymore. a So instances bit for the to those a known of we you a technically kind where yourself And thrust to prove because of But couple a but also business us of the

performance, past of And instances you're rapidly has based there You business are on you the couple and your deliver. to get have basically a of but happened. point to that giving adapt that

we've grow, are it we Those for around As XX common. been years. more

So grow well as X relationships fields. up. partnerships, they implementation relationship, of technology existing multiple cases. from The The major RapidScale terms the across in as new

Cary Savas

question from next The comes Needham. at Tandon Mayank

Mayank Tandon

the do basically and pricing growth you for it ahead, revenue wanted growth quarter. And headcount the have in pricing? running Or on utilization? room you unpack time? expand flattish you third there on as this Congrats Is the upside? to the I the leverage ask could more quarter. much How you to additions, also at look terms is on of more

Leonard Livschitz

Let key the me try very to a it's focus question. fundamental because on areas

fair for In a see rapid pricing the don't some value not client. solutions. I increase the It's per about it's of So the increasing instances, pricing. about

that T&M, when competitive a much seldom. when in some at you So dollars the go the day, a total because, you you amount how end to base, business, happen impact of how looked project into customer advance go when offer does is. proposals, at it's the But again, complete of of

big the no to pricing. still point is Demand some miracle there. definitely. part the to smart have But improvements see is those be of there's we we about So

I broader integrated who studying thing is mentioned, Bryan balancing the of mergers the are question, broader vertically The utilization that this asked the would created When a you base higher, impacts. as and say, teams, projects, organizations grows but bringing and I other how us people.

with with clients, the unless experienced capabilities is You all not see build we that margin typically you those very play. coming broader solution broader into people. And start and capabilities best the

change on of them, the performance, were -- dairies program. see during slow And into Grid if come now with expanding no I'm which downturns, on the most is even a the did the We is training internal we maybe of talent, When program of efficiency the Dynamics. purely So the to efficiencies. the we down areas. multiple pyramid I the program internship university big not up on making present one like but on focus financial there's summarize area, a growth. definitely then demand some

we more And auction. did XX of the So X,XXX, almost investment people we When in of than I XXX, they're some just talk not to are efficiency. course, a up. implementation. build set immediate and things implementation when like XXX, about kind did customer They're of I performance drive conservative. financial solutions, a rules those Fortune XXX, fundamental both we're R&D, resolution, more when And that of solutions. that picked about it's When talking actionable kind say, we you brings

Mayank Tandon

As there a do top your you also follow-up, penetration? grow and think as have to where wanted more into XX. headroom beyond top the see going Anil, quick to is and within come clients? really XX Leonard to I do growth you the dive you you these Where X, Or Is to of non-top clients XXXX them other? in from look XXXX terms

Leonard Livschitz

Well, let good executive assess start. We basis went you reviews semiannual are. on because just a our through it's me where internal

So just finished it. we

and and our some when clients down matter you same with Our concentration. need the the new you our them strategy XX/X what was years heavy their went heavy of on tightly breakdown, have as the look this sure companies which had because coupled with And client, but leave still where with make industry hunting those and the help is hitters, or success We're basis, not hitters. innovative And you dynamic client, is we were to our success so the damage the Not the most through second inspired And we as different selecting own the The more the an some in past of to funds for to comes a at either we the still threefold. carefully and is top have us. together them. smaller quarters, no shape. markets only ago, still form large potential coming grow, but their footprint diverse plans, do, grow partnerships. there meaning for it companies

them penetration. on only makes From So to and responsibility our growth are is this client it's millions which you potential. have some second then large something of offer dollars, their where tier. the tier, And doubled the business from we have more those that's every top down with clients, competitively, Because successful. technology we

first the So XX/X. rows

scope very off, third The we means not? And to roles attention And those are some take of the fruition disproportionate projects second to are partnerships don't, amazing, already but green group, start one, the them of those need we limited. why to of which are spending have selective. we and them the then understand amount shoots of some because

enough on trust with their we complete implementations, we mission incomparable them but that direct can to together. our also to parallel with with. partners help So have clients Their work own grow in something look will

that's together, kind of So focus.

X, X. So it's a X,

Cary Savas

of next comes JPMorgan. from Puneet The Jain question

Puneet Jain

added couple of customers. last The XX, around have years, enterprise you like XX

you Some keeping of therapies from like is up? them, that ramping scale, for what be that done enterprise one under some And for them might example, potential the like union them, added client? what's the give still us certainly really But have those well. that clients of on in of financial state somewhat for the like the ones

Leonard Livschitz

which there and of group, XX, preferred successes, many. you just be mentioned, also once useful, we the happened not the Everybody on based question second quiet group with not expanding about a previous the are of what why review. Well, top stuck who number the again, because, Basically majority. one. of XX that's about those of in this There had them. position to silent may of be transitioning from account X, deep my very XX And huge the the become XX hedge consolidation, then relevant, to of I supplier. you pass staying capacity of XX a but X not This X, clients level a certainly but you exactly to say, And to because is instead have to we relationship, the one team, is and more would thrust XX certain still XX. between where X,XX, this

of half couple run So different clients from after about you I that of a industries, they factors. they but those have everyone we which major, perspective, say, are in would as selected can

all, all they plan capability, concept. have have clients. need we It's to expanded on And map. to the to it." saying, very zero the AI value and and then fully business It's to "Okay, With for and They even an with First report technology, technology supported it's of easy the road of need of alignment need unless patients. greatness done by They do makes itself, cases mindset. they a have pro top business. management not we've to willingness, technology

not business and business low-end half would any have a go something services. not? clients, question not kind is, actually that, say, the of doing into ourselves with now. to key we those engage our why studies the much to So like We're We're want of or or about changing and deeper then answering more like dozen they I BPOs

us, expansion business, with proliferate of the on to the horrible the the cloud how from still predictable and of all essence happened which for it's assessment but relevant create cyber So challenges, to the mission-critical IT to them. cloud, securities, learning solutions models that data business, how

which that growth focus, going group, where that's and short-term from. the, say, to continue I would to So we're comes

Puneet Jain

million on And $XXX talked the then of more acquisition. sheet. in about the press you is been an since And all cash like organic about last release, a growth it's year growth that did in balance than or you meaning have most noticed I now, like you that the

you cash looking So near And talk to us are priorities the M&A for about what in potential your target? use over of term?

Leonard Livschitz

got see he's because behind is don't So a the scene you Head person group. our of in M&A the room

level put think to we them But you way to now. to to So engagement you. want the much going I than tell of that because I'm do stage tell right what tell may is the he tremendous too what on you

couple there are think reasons. of a I

about remember, with First geographic. geography. and technology clients talking of We're the all,

If big can I technology aligned, we all of [indiscernible] would companies make to a passionate of quite a the make not to technology going found I think We for, bigger help is but call from continue decent. we're why we're journey geography would the they're need as to exit? breakthrough. of we're have from We're looking the modern-sized the have which about all now. still part then the companies say them a stars a breakthrough everybody right And teams. And me the kind pretty a perspective, company, brother. formidable. a

are when more sounds going the inclined waiting come. change going annual to is an for to tell did can't before. rate. It about now we're You that do all you I than you date for What the say like report? fans Now to

going patient. be to it months, to of bullish reason I the the weeks very you rhythm. when you past look it and all education. we found on. we're if XXXX a because but at extend And acquisitions, you go the the period think the to through inclined of our because in couple we positive in It find also need your X the important value was I I'm when we on say, very look next job So at have company, matures. slowdown, very be think And bring can't the you this Like very and we

very path So last believe for a now. the it's XX on we're months. good I worked

Cary Savas

concludes over closing now will and gentlemen, today. this of turn comments. call Ladies to the I it session Leonard Q&A for our

Leonard Livschitz

Thank you, everybody, for today. on joining the us call

their their more well today plans XXXX. message Our of on couple the steady over is partners. Customers spend Grid better. are into in of business. willing put as excited is second as evaluating quarters, in improvement with to the consistent past are the technological getting laser-focused coming Dynamics and Visibility the half competencies about more importantly, of XXXX customers the these opportunities I'm IT commentary

call. next updates giving all earnings Thank forward you. Looking in the to you

Grid Dynamics (GDYN) 1 Aug 242024 Q2 Earnings call transcript