Grid Dynamics Boosts Q1 Revenue Outlook; Expands Workforce Outside Of Eastern Europe

Grid Dynamics Holdings Inc GDYN announced an upward revision of its Q1 2022 financial performance outlook.
Grid Dynamics raised its Q1 quarterly revenue guidance to at least $65 million from the previous guidance of $55 million - $60 million, against the consensus of $57.3 million.
Grid Dynamics continues to swiftly grow its engineering workforce outside of Eastern Europe while accelerating relocations from Eastern Europe to Central Europe, Mexico, and other locations.
The number of employees based in Eastern Europe comprises about half of the company's total headcount, down from more than two-thirds as of February 24, 2022.
Grid Dynamics accelerates workforce expansion across geographic regions, including Central Europe, the U.S., Mexico, and India.
Price Action: GDYN shares traded higher by 3.77% at $14.60 on the last check Wednesday.