Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Q1 2023 Earnings Conference Call May 4, 2023 4:30 PM ET
Company Participants
Bin Jiang - Head of Investor Relations
Leonard Livschitz - Chief Executive Officer and Director
Anil Doradla - Chief Financial Officer
Conference Call Participants
Joshua Siegler - Cantor Fitzgerald
Mayank Tandon - Needham & Company
Puneet Jain - JPMorgan
Bryan Bergin - TD Cowen
Ryan Potter - Citi
Kathleen Kronstein - William Blair
Bin Jiang
Good afternoon, everyone. Welcome to Grid Dynamics First Quarter 2023 Earnings Conference Call. I'm Bin Jiang, Head of Investor Relations. At this time, all participants are in listen-only mode. Joining us on the call today are CEO, Leonard Livschitz; and CFO, Anil Doradla. Following their prepared remarks, we will open the call for your questions. Please note today's conference is being recorded.
Before we begin, I would like to remind everyone that today's discussion will contain forward-looking statements. This includes our business and financial outlook and the answers to some of your questions. Such statements are subject to the risks and uncertainties described in the company's earnings release and other filings with the SEC. During this call, we will discuss certain non-GAAP measures of our performance. GAAP to non-GAAP financial reconciliations and supplemental financial information are provided in the earnings press release and the 8-K filed with the SEC. You can find all the information I have just described in the Investor Relations section of our website.
With that, I will now turn the call over to Leonard, our CEO.
Leonard Livschitz
Thank you, Bin. Good afternoon, everyone, and thank you for joining us today. As you have seen from our results that we published a short time ago, our Q1 2023 revenue and profitability were at the high end of the expectations that we provided in February. In the current environment, I'm delighted with our results. This is a testament of Grid Dynamics' strength and value we bring to our clients. There are many positives in the quarter. Grid Dynamics continued to provide comprehensive partnerships with many clients, momentum at winning new logos in the first quarter with global Tier 1s, meaningful contribution from our recent logo wins towards revenue, success with our geographical diversification strategy.
India became one of the largest delivery countries, I would like also to emphasize operational progress with our GigaCube strategy that will propel the company toward $1 billion revenue. I will talk about each of these elements in my prepared remarks and Q&A.