Grid Dynamics Holdings, Inc. cash flow statement
In fiscal 2025, Grid Dynamics Holdings, Inc.'s operations generated $40.6m of cash; it spent $15.3m on capital projects, leaving free cash flow of $25.3m. It returned $2.0m through buybacks.
Cash flow statement
| Fiscal year | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 11 | 13 | 6 | 18 | 32 | 41 | 30 | 41 | 40 |
| Depreciation and amortisation | 1 | 2 | 3 | 5 | 7 | 9 | 14 | 20 | 21 |
| Stock-based pay | 2 | 2 | 20 | 33 | 61 | 36 | 34 | 30 | 25 |
| Capital spending | 3 | 3 | 2 | 5 | 6 | 8 | 12 | 15 | 14 |
| Free cash flow | 8 | 10 | 4 | 13 | 26 | 33 | 18 | 25 | 26 |
| Free cash flow after stock pay | 6 | 7 | −16 | −20 | −35 | −2 | −16 | −5 | 2 |
| Dividends paid | — | 2 | 0 | 0 | — | — | — | — | — |
| Share buybacks | — | 0 | 124 | 0 | 0 | 0 | 0 | 2 | 37 |
| Shares issued | — | 0 | 0 | 78 | 110 | 0 | 108 | 0 | — |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 7 | 9 | 14 | 7 | 10 | 8 | 6 | 16 |
| Depreciation and amortisation | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 6 |
| Stock-based pay | 8 | 11 | 7 | 6 | 7 | 8 | 4 | 5 |
| Capital spending | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 3 |
| Free cash flow | 4 | 6 | 10 | 3 | 6 | 4 | 3 | 13 |
| Free cash flow after stock pay | −4 | −5 | 3 | −3 | −0 | −4 | −2 | 8 |
Compare with peers
- Rimini Street, Inc. cash flow
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