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Side-by-side financial comparison of Emerald Holding, Inc. (EEX) and GRID DYNAMICS HOLDINGS, INC. (GDYN). Click either name above to swap in a different company.
Emerald Holding, Inc. is the larger business by last-quarter revenue ($132.7M vs $104.1M, roughly 1.3× GRID DYNAMICS HOLDINGS, INC.). GRID DYNAMICS HOLDINGS, INC. runs the higher net margin — -1.4% vs -22.8%, a 21.3% gap on every dollar of revenue. On growth, Emerald Holding, Inc. posted the faster year-over-year revenue change (24.3% vs 3.7%). Over the past eight quarters, GRID DYNAMICS HOLDINGS, INC.'s revenue compounded faster (12.0% CAGR vs -0.3%).
TVS Emerald Haven Realty Limited is an Indian real estate development company headquartered in Chennai, Tamil Nadu. A subsidiary of TVS Holdings, it specializes in sustainable residential communities and urban development projects.
Escape Dynamics, Inc. was a Colorado-based technology company that operated 2010–2015 focused on bringing to market single-stage-to-orbit reusable electromagnetically powered spaceplanes.
EEX vs GDYN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $132.7M | $104.1M |
| Net Profit | $-30.2M | $-1.5M |
| Gross Margin | — | 34.8% |
| Operating Margin | -11.8% | 61.7% |
| Net Margin | -22.8% | -1.4% |
| Revenue YoY | 24.3% | 3.7% |
| Net Profit YoY | -692.2% | -150.6% |
| EPS (diluted) | $-0.15 | $-0.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $104.1M | ||
| Q4 25 | $132.7M | $106.2M | ||
| Q3 25 | $77.5M | $104.2M | ||
| Q2 25 | $105.5M | $101.1M | ||
| Q1 25 | $147.7M | $100.4M | ||
| Q4 24 | $106.8M | $100.3M | ||
| Q3 24 | $72.6M | $87.4M | ||
| Q2 24 | $86.0M | $83.0M |
| Q1 26 | — | $-1.5M | ||
| Q4 25 | $-30.2M | $306.0K | ||
| Q3 25 | $-14.4M | $1.2M | ||
| Q2 25 | $-1.4M | $5.3M | ||
| Q1 25 | $15.3M | $2.9M | ||
| Q4 24 | $5.1M | $4.5M | ||
| Q3 24 | $-11.1M | $4.3M | ||
| Q2 24 | $-2.8M | $-817.0K |
| Q1 26 | — | 34.8% | ||
| Q4 25 | — | 34.0% | ||
| Q3 25 | — | 33.3% | ||
| Q2 25 | — | 34.1% | ||
| Q1 25 | — | 36.8% | ||
| Q4 24 | — | 36.9% | ||
| Q3 24 | — | 37.4% | ||
| Q2 24 | — | 35.6% |
| Q1 26 | — | 61.7% | ||
| Q4 25 | -11.8% | 0.5% | ||
| Q3 25 | -10.1% | -0.2% | ||
| Q2 25 | 9.7% | -0.1% | ||
| Q1 25 | 24.2% | -2.0% | ||
| Q4 24 | 19.5% | 1.3% | ||
| Q3 24 | -6.5% | 2.4% | ||
| Q2 24 | 7.4% | 0.0% |
| Q1 26 | — | -1.4% | ||
| Q4 25 | -22.8% | 0.3% | ||
| Q3 25 | -18.6% | 1.1% | ||
| Q2 25 | -1.3% | 5.2% | ||
| Q1 25 | 10.4% | 2.9% | ||
| Q4 24 | 4.8% | 4.5% | ||
| Q3 24 | -15.3% | 4.9% | ||
| Q2 24 | -3.3% | -1.0% |
| Q1 26 | — | $-0.02 | ||
| Q4 25 | $-0.15 | $0.01 | ||
| Q3 25 | $-0.07 | $0.01 | ||
| Q2 25 | $-0.01 | $0.06 | ||
| Q1 25 | $0.08 | $0.03 | ||
| Q4 24 | $0.01 | $0.06 | ||
| Q3 24 | $-0.05 | $0.05 | ||
| Q2 24 | $-0.03 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $100.9M | $327.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $338.8M | $530.1M |
| Total Assets | $1.2B | $605.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $327.5M | ||
| Q4 25 | $100.9M | $342.1M | ||
| Q3 25 | $95.4M | $338.6M | ||
| Q2 25 | $156.4M | $336.8M | ||
| Q1 25 | $276.8M | $325.5M | ||
| Q4 24 | $194.8M | $334.7M | ||
| Q3 24 | $188.9M | $231.3M | ||
| Q2 24 | $193.2M | $256.0M |
| Q1 26 | — | $530.1M | ||
| Q4 25 | $338.8M | $542.1M | ||
| Q3 25 | $369.5M | $537.7M | ||
| Q2 25 | $389.4M | $532.2M | ||
| Q1 25 | $392.1M | $517.4M | ||
| Q4 24 | $385.9M | $517.8M | ||
| Q3 24 | $391.1M | $400.2M | ||
| Q2 24 | $407.6M | $388.4M |
| Q1 26 | — | $605.0M | ||
| Q4 25 | $1.2B | $612.9M | ||
| Q3 25 | $1.2B | $613.2M | ||
| Q2 25 | $1.2B | $608.9M | ||
| Q1 25 | $1.2B | $590.9M | ||
| Q4 24 | $1.0B | $592.2M | ||
| Q3 24 | $1.1B | $477.3M | ||
| Q2 24 | $1.1B | $443.6M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $12.3M | — |
| Free Cash FlowOCF − Capex | $11.7M | — |
| FCF MarginFCF / Revenue | 8.8% | — |
| Capex IntensityCapex / Revenue | 0.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $41.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $12.3M | $9.9M | ||
| Q3 25 | $1.8M | $7.0M | ||
| Q2 25 | $15.9M | $14.4M | ||
| Q1 25 | $12.6M | $9.4M | ||
| Q4 24 | $20.6M | $7.1M | ||
| Q3 24 | $9.1M | $9.2M | ||
| Q2 24 | $9.8M | $10.7M |
| Q1 26 | — | — | ||
| Q4 25 | $11.7M | $6.1M | ||
| Q3 25 | $1.5M | $2.9M | ||
| Q2 25 | $15.8M | $10.2M | ||
| Q1 25 | $12.4M | $6.0M | ||
| Q4 24 | $19.9M | $4.4M | ||
| Q3 24 | $9.0M | $5.9M | ||
| Q2 24 | $9.6M | $8.0M |
| Q1 26 | — | — | ||
| Q4 25 | 8.8% | 5.7% | ||
| Q3 25 | 1.9% | 2.8% | ||
| Q2 25 | 15.0% | 10.1% | ||
| Q1 25 | 8.4% | 6.0% | ||
| Q4 24 | 18.6% | 4.4% | ||
| Q3 24 | 12.4% | 6.8% | ||
| Q2 24 | 11.2% | 9.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 3.6% | ||
| Q3 25 | 0.4% | 3.9% | ||
| Q2 25 | 0.1% | 4.1% | ||
| Q1 25 | 0.1% | 3.3% | ||
| Q4 24 | 0.7% | 2.6% | ||
| Q3 24 | 0.1% | 3.7% | ||
| Q2 24 | 0.2% | 3.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 32.34× | ||
| Q3 25 | — | 5.92× | ||
| Q2 25 | — | 2.73× | ||
| Q1 25 | 0.82× | 3.21× | ||
| Q4 24 | 4.04× | 1.56× | ||
| Q3 24 | — | 2.15× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EEX
| Connections Segment | $121.9M | 92% |
| Commerce Segment | $5.5M | 4% |
| Content | $5.3M | 4% |
GDYN
Segment breakdown not available.
