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Side-by-side financial comparison of GRID DYNAMICS HOLDINGS, INC. (GDYN) and NICOLET BANKSHARES INC (NIC). 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 $104.0M, roughly 1.0× NICOLET BANKSHARES INC). NICOLET BANKSHARES INC runs the higher net margin — 38.8% vs -1.4%, a 40.2% gap on every dollar of revenue. On growth, NICOLET BANKSHARES INC posted the faster year-over-year revenue change (12.5% vs 3.7%). Over the past eight quarters, NICOLET BANKSHARES INC's revenue compounded faster (12.5% CAGR vs 12.0%).
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.
Nicolet Bankshares, Inc. is a U.S. regional bank holding company based in Green Bay, Wisconsin. They are the parent company of Nicolet National Bank, the second largest Wisconsin-based bank.
GDYN vs NIC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.1M | $104.0M |
| Net Profit | $-1.5M | $40.3M |
| Gross Margin | 34.8% | — |
| Operating Margin | 61.7% | 48.3% |
| Net Margin | -1.4% | 38.8% |
| Revenue YoY | 3.7% | 12.5% |
| Net Profit YoY | -150.6% | 16.9% |
| EPS (diluted) | $-0.02 | $2.63 |
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 | $104.0M | ||
| Q3 25 | $104.2M | $102.9M | ||
| Q2 25 | $101.1M | $95.7M | ||
| Q1 25 | $100.4M | $89.4M | ||
| Q4 24 | $100.3M | $92.4M | ||
| Q3 24 | $87.4M | $90.7M | ||
| Q2 24 | $83.0M | $85.0M |
| Q1 26 | $-1.5M | — | ||
| Q4 25 | $306.0K | $40.3M | ||
| Q3 25 | $1.2M | $41.7M | ||
| Q2 25 | $5.3M | $36.0M | ||
| Q1 25 | $2.9M | $32.6M | ||
| Q4 24 | $4.5M | $34.5M | ||
| Q3 24 | $4.3M | $32.5M | ||
| Q2 24 | $-817.0K | $29.3M |
| 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% | 48.3% | ||
| Q3 25 | -0.2% | 50.4% | ||
| Q2 25 | -0.1% | 46.8% | ||
| Q1 25 | -2.0% | 44.9% | ||
| Q4 24 | 1.3% | 46.8% | ||
| Q3 24 | 2.4% | 45.0% | ||
| Q2 24 | 0.0% | 43.3% |
| Q1 26 | -1.4% | — | ||
| Q4 25 | 0.3% | 38.8% | ||
| Q3 25 | 1.1% | 40.6% | ||
| Q2 25 | 5.2% | 37.6% | ||
| Q1 25 | 2.9% | 36.4% | ||
| Q4 24 | 4.5% | 37.3% | ||
| Q3 24 | 4.9% | 35.8% | ||
| Q2 24 | -1.0% | 34.5% |
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $0.01 | $2.63 | ||
| Q3 25 | $0.01 | $2.73 | ||
| Q2 25 | $0.06 | $2.34 | ||
| Q1 25 | $0.03 | $2.08 | ||
| Q4 24 | $0.06 | $2.21 | ||
| Q3 24 | $0.05 | $2.10 | ||
| Q2 24 | $-0.01 | $1.92 |
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 | — |
| Total DebtLower is stronger | — | $134.9M |
| Stockholders' EquityBook value | $530.1M | $1.3B |
| Total Assets | $605.0M | $9.2B |
| Debt / EquityLower = less leverage | — | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $327.5M | — | ||
| Q4 25 | $342.1M | — | ||
| Q3 25 | $338.6M | — | ||
| Q2 25 | $336.8M | — | ||
| Q1 25 | $325.5M | — | ||
| Q4 24 | $334.7M | — | ||
| Q3 24 | $231.3M | — | ||
| Q2 24 | $256.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $134.9M | ||
| Q3 25 | — | $134.6M | ||
| Q2 25 | — | $134.3M | ||
| Q1 25 | — | $156.6M | ||
| Q4 24 | — | $161.4M | ||
| Q3 24 | — | $161.2M | ||
| Q2 24 | — | $162.4M |
| Q1 26 | $530.1M | — | ||
| Q4 25 | $542.1M | $1.3B | ||
| Q3 25 | $537.7M | $1.2B | ||
| Q2 25 | $532.2M | $1.2B | ||
| Q1 25 | $517.4M | $1.2B | ||
| Q4 24 | $517.8M | $1.2B | ||
| Q3 24 | $400.2M | $1.1B | ||
| Q2 24 | $388.4M | $1.1B |
| Q1 26 | $605.0M | — | ||
| Q4 25 | $612.9M | $9.2B | ||
| Q3 25 | $613.2M | $9.0B | ||
| Q2 25 | $608.9M | $8.9B | ||
| Q1 25 | $590.9M | $9.0B | ||
| Q4 24 | $592.2M | $8.8B | ||
| Q3 24 | $477.3M | $8.6B | ||
| Q2 24 | $443.6M | $8.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.11× | ||
| Q3 25 | — | 0.11× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× |
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 | — | $153.5M |
| Free Cash FlowOCF − Capex | — | $149.4M |
| FCF MarginFCF / Revenue | — | 143.7% |
| Capex IntensityCapex / Revenue | — | 3.9% |
| Cash ConversionOCF / Net Profit | — | 3.81× |
| TTM Free Cash FlowTrailing 4 quarters | — | $275.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $9.9M | $153.5M | ||
| Q3 25 | $7.0M | $45.9M | ||
| Q2 25 | $14.4M | $38.9M | ||
| Q1 25 | $9.4M | $41.8M | ||
| Q4 24 | $7.1M | $133.7M | ||
| Q3 24 | $9.2M | $39.6M | ||
| Q2 24 | $10.7M | $37.3M |
| Q1 26 | — | — | ||
| Q4 25 | $6.1M | $149.4M | ||
| Q3 25 | $2.9M | $45.9M | ||
| Q2 25 | $10.2M | $38.4M | ||
| Q1 25 | $6.0M | $41.3M | ||
| Q4 24 | $4.4M | $116.8M | ||
| Q3 24 | $5.9M | $34.7M | ||
| Q2 24 | $8.0M | $34.4M |
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | 143.7% | ||
| Q3 25 | 2.8% | 44.6% | ||
| Q2 25 | 10.1% | 40.1% | ||
| Q1 25 | 6.0% | 46.2% | ||
| Q4 24 | 4.4% | 126.4% | ||
| Q3 24 | 6.8% | 38.3% | ||
| Q2 24 | 9.7% | 40.5% |
| Q1 26 | — | — | ||
| Q4 25 | 3.6% | 3.9% | ||
| Q3 25 | 3.9% | 0.0% | ||
| Q2 25 | 4.1% | 0.6% | ||
| Q1 25 | 3.3% | 0.5% | ||
| Q4 24 | 2.6% | 18.3% | ||
| Q3 24 | 3.7% | 5.4% | ||
| Q2 24 | 3.2% | 3.5% |
| Q1 26 | — | — | ||
| Q4 25 | 32.34× | 3.81× | ||
| Q3 25 | 5.92× | 1.10× | ||
| Q2 25 | 2.73× | 1.08× | ||
| Q1 25 | 3.21× | 1.28× | ||
| Q4 24 | 1.56× | 3.88× | ||
| Q3 24 | 2.15× | 1.22× | ||
| Q2 24 | — | 1.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
