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Side-by-side financial comparison of GRID DYNAMICS HOLDINGS, INC. (GDYN) and HORIZON BANCORP INC (HBNC). Click either name above to swap in a different company.
GRID DYNAMICS HOLDINGS, INC. is the larger business by last-quarter revenue ($104.1M vs $63.5M, roughly 1.6× HORIZON BANCORP INC). HORIZON BANCORP INC runs the higher net margin — 42.4% vs -1.4%, a 43.8% gap on every dollar of revenue. On growth, HORIZON BANCORP INC posted the faster year-over-year revenue change (19.5% vs 3.7%). Over the past eight quarters, GRID DYNAMICS HOLDINGS, INC.'s revenue compounded faster (12.0% CAGR vs 9.2%).
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.
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
GDYN vs HBNC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.1M | $63.5M |
| Net Profit | $-1.5M | $26.9M |
| Gross Margin | 34.8% | — |
| Operating Margin | 61.7% | 51.5% |
| Net Margin | -1.4% | 42.4% |
| Revenue YoY | 3.7% | 19.5% |
| Net Profit YoY | -150.6% | 347.4% |
| EPS (diluted) | $-0.02 | $0.44 |
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 | $106.2M | $63.5M | ||
| Q3 25 | $104.2M | $58.4M | ||
| Q2 25 | $101.1M | $66.3M | ||
| Q1 25 | $100.4M | $68.8M | ||
| Q4 24 | $100.3M | $53.1M | ||
| Q3 24 | $87.4M | $58.4M | ||
| Q2 24 | $83.0M | $55.8M |
| Q1 26 | $-1.5M | — | ||
| Q4 25 | $306.0K | $26.9M | ||
| Q3 25 | $1.2M | $-222.0M | ||
| Q2 25 | $5.3M | $20.6M | ||
| Q1 25 | $2.9M | $23.9M | ||
| Q4 24 | $4.5M | $-10.9M | ||
| Q3 24 | $4.3M | $18.2M | ||
| Q2 24 | $-817.0K | $14.1M |
| 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 | 0.5% | 51.5% | ||
| Q3 25 | -0.2% | -490.4% | ||
| Q2 25 | -0.1% | 36.8% | ||
| Q1 25 | -2.0% | 40.8% | ||
| Q4 24 | 1.3% | -41.3% | ||
| Q3 24 | 2.4% | 31.0% | ||
| Q2 24 | 0.0% | 28.5% |
| Q1 26 | -1.4% | — | ||
| Q4 25 | 0.3% | 42.4% | ||
| Q3 25 | 1.1% | -380.2% | ||
| Q2 25 | 5.2% | 31.1% | ||
| Q1 25 | 2.9% | 34.8% | ||
| Q4 24 | 4.5% | -20.5% | ||
| Q3 24 | 4.9% | 31.1% | ||
| Q2 24 | -1.0% | 25.4% |
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $0.01 | $0.44 | ||
| Q3 25 | $0.01 | $-4.69 | ||
| Q2 25 | $0.06 | $0.47 | ||
| Q1 25 | $0.03 | $0.54 | ||
| Q4 24 | $0.06 | $-0.25 | ||
| Q3 24 | $0.05 | $0.41 | ||
| Q2 24 | $-0.01 | $0.32 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $327.5M | $139.5M |
| Total DebtLower is stronger | — | $248.6M |
| Stockholders' EquityBook value | $530.1M | $688.3M |
| Total Assets | $605.0M | $6.4B |
| Debt / EquityLower = less leverage | — | 0.36× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $327.5M | — | ||
| Q4 25 | $342.1M | $139.5M | ||
| Q3 25 | $338.6M | $458.3M | ||
| Q2 25 | $336.8M | $137.9M | ||
| Q1 25 | $325.5M | $169.7M | ||
| Q4 24 | $334.7M | $293.4M | ||
| Q3 24 | $231.3M | $234.8M | ||
| Q2 24 | $256.0M | $146.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $248.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $530.1M | — | ||
| Q4 25 | $542.1M | $688.3M | ||
| Q3 25 | $537.7M | $660.8M | ||
| Q2 25 | $532.2M | $790.9M | ||
| Q1 25 | $517.4M | $776.1M | ||
| Q4 24 | $517.8M | $763.6M | ||
| Q3 24 | $400.2M | $754.8M | ||
| Q2 24 | $388.4M | $726.7M |
| Q1 26 | $605.0M | — | ||
| Q4 25 | $612.9M | $6.4B | ||
| Q3 25 | $613.2M | $6.7B | ||
| Q2 25 | $608.9M | $7.7B | ||
| Q1 25 | $590.9M | $7.6B | ||
| Q4 24 | $592.2M | $7.8B | ||
| Q3 24 | $477.3M | $7.9B | ||
| Q2 24 | $443.6M | $7.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.36× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $79.2M |
| Free Cash FlowOCF − Capex | — | $74.3M |
| FCF MarginFCF / Revenue | — | 117.0% |
| Capex IntensityCapex / Revenue | — | 7.8% |
| Cash ConversionOCF / Net Profit | — | 2.94× |
| TTM Free Cash FlowTrailing 4 quarters | — | $115.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $9.9M | $79.2M | ||
| Q3 25 | $7.0M | $10.9M | ||
| Q2 25 | $14.4M | $19.5M | ||
| Q1 25 | $9.4M | $15.2M | ||
| Q4 24 | $7.1M | $6.4M | ||
| Q3 24 | $9.2M | $32.3M | ||
| Q2 24 | $10.7M | $15.9M |
| Q1 26 | — | — | ||
| Q4 25 | $6.1M | $74.3M | ||
| Q3 25 | $2.9M | $9.4M | ||
| Q2 25 | $10.2M | $18.1M | ||
| Q1 25 | $6.0M | $14.1M | ||
| Q4 24 | $4.4M | $1.3M | ||
| Q3 24 | $5.9M | $31.0M | ||
| Q2 24 | $8.0M | $15.1M |
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | 117.0% | ||
| Q3 25 | 2.8% | 16.1% | ||
| Q2 25 | 10.1% | 27.3% | ||
| Q1 25 | 6.0% | 20.5% | ||
| Q4 24 | 4.4% | 2.4% | ||
| Q3 24 | 6.8% | 53.1% | ||
| Q2 24 | 9.7% | 27.1% |
| Q1 26 | — | — | ||
| Q4 25 | 3.6% | 7.8% | ||
| Q3 25 | 3.9% | 2.6% | ||
| Q2 25 | 4.1% | 2.1% | ||
| Q1 25 | 3.3% | 1.6% | ||
| Q4 24 | 2.6% | 9.6% | ||
| Q3 24 | 3.7% | 2.2% | ||
| Q2 24 | 3.2% | 1.5% |
| Q1 26 | — | — | ||
| Q4 25 | 32.34× | 2.94× | ||
| Q3 25 | 5.92× | — | ||
| Q2 25 | 2.73× | 0.94× | ||
| Q1 25 | 3.21× | 0.64× | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 2.15× | 1.78× | ||
| Q2 24 | — | 1.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
