vs
Side-by-side financial comparison of GRID DYNAMICS HOLDINGS, INC. (GDYN) and Industrial Logistics Properties Trust (ILPT). Click either name above to swap in a different company.
Industrial Logistics Properties Trust is the larger business by last-quarter revenue ($113.9M vs $104.1M, roughly 1.1× GRID DYNAMICS HOLDINGS, INC.). GRID DYNAMICS HOLDINGS, INC. runs the higher net margin — -1.4% vs -1.6%, a 0.1% gap on every dollar of revenue. On growth, GRID DYNAMICS HOLDINGS, INC. posted the faster year-over-year revenue change (3.7% vs 3.1%). Over the past eight quarters, GRID DYNAMICS HOLDINGS, INC.'s revenue compounded faster (12.0% CAGR vs 0.7%).
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.
Industrial Logistics Properties Trust is a real estate investment trust that owns and operates a portfolio of industrial and logistics real estate assets primarily across the United States. Its holdings include distribution centers, warehouses, and last-mile delivery properties, serving e-commerce, retail, manufacturing and supply chain operators to meet their storage and logistics operation needs.
GDYN vs ILPT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.1M | $113.9M |
| Net Profit | $-1.5M | $-1.8M |
| Gross Margin | 34.8% | — |
| Operating Margin | 61.7% | -22.1% |
| Net Margin | -1.4% | -1.6% |
| Revenue YoY | 3.7% | 3.1% |
| Net Profit YoY | -150.6% | 92.6% |
| EPS (diluted) | $-0.02 | $-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 | $106.2M | $113.9M | ||
| Q3 25 | $104.2M | $110.9M | ||
| Q2 25 | $101.1M | $112.1M | ||
| Q1 25 | $100.4M | $111.9M | ||
| Q4 24 | $100.3M | $110.5M | ||
| Q3 24 | $87.4M | $108.9M | ||
| Q2 24 | $83.0M | $110.6M |
| Q1 26 | $-1.5M | — | ||
| Q4 25 | $306.0K | $-1.8M | ||
| Q3 25 | $1.2M | $-21.6M | ||
| Q2 25 | $5.3M | $-21.3M | ||
| Q1 25 | $2.9M | $-21.5M | ||
| Q4 24 | $4.5M | $-24.1M | ||
| Q3 24 | $4.3M | $-25.0M | ||
| Q2 24 | $-817.0K | $-23.2M |
| 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% | -22.1% | ||
| Q3 25 | -0.2% | -29.4% | ||
| Q2 25 | -0.1% | -30.8% | ||
| Q1 25 | -2.0% | -26.9% | ||
| Q4 24 | 1.3% | -31.1% | ||
| Q3 24 | 2.4% | -33.5% | ||
| Q2 24 | 0.0% | -32.4% |
| Q1 26 | -1.4% | — | ||
| Q4 25 | 0.3% | -1.6% | ||
| Q3 25 | 1.1% | -19.4% | ||
| Q2 25 | 5.2% | -19.0% | ||
| Q1 25 | 2.9% | -19.2% | ||
| Q4 24 | 4.5% | -21.8% | ||
| Q3 24 | 4.9% | -22.9% | ||
| Q2 24 | -1.0% | -20.9% |
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $0.01 | $-0.02 | ||
| Q3 25 | $0.01 | $-0.33 | ||
| Q2 25 | $0.06 | $-0.32 | ||
| Q1 25 | $0.03 | $-0.33 | ||
| Q4 24 | $0.06 | $-0.37 | ||
| Q3 24 | $0.05 | $-0.38 | ||
| Q2 24 | $-0.01 | $-0.35 |
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 | $94.8M |
| Total DebtLower is stronger | — | $4.2B |
| Stockholders' EquityBook value | $530.1M | $489.7M |
| Total Assets | $605.0M | $5.2B |
| Debt / EquityLower = less leverage | — | 8.56× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $327.5M | — | ||
| Q4 25 | $342.1M | $94.8M | ||
| Q3 25 | $338.6M | $83.2M | ||
| Q2 25 | $336.8M | $58.6M | ||
| Q1 25 | $325.5M | $108.0M | ||
| Q4 24 | $334.7M | $131.7M | ||
| Q3 24 | $231.3M | $153.9M | ||
| Q2 24 | $256.0M | $146.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $4.2B | ||
| Q3 25 | — | $4.2B | ||
| Q2 25 | — | $4.2B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.3B |
| Q1 26 | $530.1M | — | ||
| Q4 25 | $542.1M | $489.7M | ||
| Q3 25 | $537.7M | $494.1M | ||
| Q2 25 | $532.2M | $519.1M | ||
| Q1 25 | $517.4M | $539.5M | ||
| Q4 24 | $517.8M | $562.0M | ||
| Q3 24 | $400.2M | $585.9M | ||
| Q2 24 | $388.4M | $618.3M |
| Q1 26 | $605.0M | — | ||
| Q4 25 | $612.9M | $5.2B | ||
| Q3 25 | $613.2M | $5.2B | ||
| Q2 25 | $608.9M | $5.2B | ||
| Q1 25 | $590.9M | $5.4B | ||
| Q4 24 | $592.2M | $5.4B | ||
| Q3 24 | $477.3M | $5.5B | ||
| Q2 24 | $443.6M | $5.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 8.56× | ||
| Q3 25 | — | 8.49× | ||
| Q2 25 | — | 8.09× | ||
| Q1 25 | — | 7.96× | ||
| Q4 24 | — | 7.65× | ||
| Q3 24 | — | 7.35× | ||
| Q2 24 | — | 6.96× |
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 | — | $60.7M |
| Free Cash FlowOCF − Capex | — | $42.0M |
| FCF MarginFCF / Revenue | — | 36.9% |
| Capex IntensityCapex / Revenue | — | 16.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $79.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $9.9M | $60.7M | ||
| Q3 25 | $7.0M | $22.7M | ||
| Q2 25 | $14.4M | $18.4M | ||
| Q1 25 | $9.4M | $11.4M | ||
| Q4 24 | $7.1M | $2.0M | ||
| Q3 24 | $9.2M | $-3.4M | ||
| Q2 24 | $10.7M | $10.8M |
| Q1 26 | — | — | ||
| Q4 25 | $6.1M | $42.0M | ||
| Q3 25 | $2.9M | $17.6M | ||
| Q2 25 | $10.2M | $15.2M | ||
| Q1 25 | $6.0M | $5.0M | ||
| Q4 24 | $4.4M | $-3.7M | ||
| Q3 24 | $5.9M | $-5.9M | ||
| Q2 24 | $8.0M | $9.4M |
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | 36.9% | ||
| Q3 25 | 2.8% | 15.9% | ||
| Q2 25 | 10.1% | 13.5% | ||
| Q1 25 | 6.0% | 4.5% | ||
| Q4 24 | 4.4% | -3.4% | ||
| Q3 24 | 6.8% | -5.5% | ||
| Q2 24 | 9.7% | 8.5% |
| Q1 26 | — | — | ||
| Q4 25 | 3.6% | 16.4% | ||
| Q3 25 | 3.9% | 4.6% | ||
| Q2 25 | 4.1% | 2.9% | ||
| Q1 25 | 3.3% | 5.7% | ||
| Q4 24 | 2.6% | 5.2% | ||
| Q3 24 | 3.7% | 2.3% | ||
| Q2 24 | 3.2% | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | 32.34× | — | ||
| Q3 25 | 5.92× | — | ||
| Q2 25 | 2.73× | — | ||
| Q1 25 | 3.21× | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 2.15× | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
