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Side-by-side financial comparison of GRID DYNAMICS HOLDINGS, INC. (GDYN) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
GRID DYNAMICS HOLDINGS, INC. is the larger business by last-quarter revenue ($106.2M vs $73.5M, roughly 1.4× Target Hospitality Corp.). GRID DYNAMICS HOLDINGS, INC. runs the higher net margin — 0.3% vs -20.3%, a 20.6% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs 5.9%). Over the past eight quarters, GRID DYNAMICS HOLDINGS, INC.'s revenue compounded faster (15.3% 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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
GDYN vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $106.2M | $73.5M |
| Net Profit | $306.0K | $-14.9M |
| Gross Margin | 34.0% | 9.6% |
| Operating Margin | 0.5% | -22.9% |
| Net Margin | 0.3% | -20.3% |
| Revenue YoY | 5.9% | 22.0% |
| Net Profit YoY | -93.2% | -219.1% |
| EPS (diluted) | $0.01 | $-0.14 |
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.
| Q4 25 | $106.2M | $73.5M | ||
| Q3 25 | $104.2M | $91.6M | ||
| Q2 25 | $101.1M | $54.9M | ||
| Q1 25 | $100.4M | $54.9M | ||
| Q4 24 | $100.3M | $60.2M | ||
| Q3 24 | $87.4M | $65.8M | ||
| Q2 24 | $83.0M | $67.5M | ||
| Q1 24 | $79.8M | $72.4M |
| Q4 25 | $306.0K | $-14.9M | ||
| Q3 25 | $1.2M | $-795.0K | ||
| Q2 25 | $5.3M | $-14.9M | ||
| Q1 25 | $2.9M | $-6.5M | ||
| Q4 24 | $4.5M | $12.5M | ||
| Q3 24 | $4.3M | $20.0M | ||
| Q2 24 | $-817.0K | $18.4M | ||
| Q1 24 | $-3.9M | $20.4M |
| Q4 25 | 34.0% | 9.6% | ||
| Q3 25 | 33.3% | 19.6% | ||
| Q2 25 | 34.1% | -0.6% | ||
| Q1 25 | 36.8% | 32.7% | ||
| Q4 24 | 36.9% | 61.5% | ||
| Q3 24 | 37.4% | 68.7% | ||
| Q2 24 | 35.6% | 69.4% | ||
| Q1 24 | 34.7% | 67.8% |
| Q4 25 | 0.5% | -22.9% | ||
| Q3 25 | -0.2% | 0.1% | ||
| Q2 25 | -0.1% | -30.8% | ||
| Q1 25 | -2.0% | -2.0% | ||
| Q4 24 | 1.3% | 34.5% | ||
| Q3 24 | 2.4% | 42.5% | ||
| Q2 24 | 0.0% | 43.8% | ||
| Q1 24 | -6.9% | 42.0% |
| Q4 25 | 0.3% | -20.3% | ||
| Q3 25 | 1.1% | -0.9% | ||
| Q2 25 | 5.2% | -27.2% | ||
| Q1 25 | 2.9% | -11.8% | ||
| Q4 24 | 4.5% | 20.8% | ||
| Q3 24 | 4.9% | 30.4% | ||
| Q2 24 | -1.0% | 27.2% | ||
| Q1 24 | -4.9% | 28.2% |
| Q4 25 | $0.01 | $-0.14 | ||
| Q3 25 | $0.01 | $-0.01 | ||
| Q2 25 | $0.06 | $-0.15 | ||
| Q1 25 | $0.03 | $-0.07 | ||
| Q4 24 | $0.06 | $0.12 | ||
| Q3 24 | $0.05 | $0.20 | ||
| Q2 24 | $-0.01 | $0.18 | ||
| Q1 24 | $-0.05 | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $342.1M | $8.3M |
| Total DebtLower is stronger | — | $1.7M |
| Stockholders' EquityBook value | $542.1M | $389.3M |
| Total Assets | $612.9M | $530.2M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $342.1M | $8.3M | ||
| Q3 25 | $338.6M | $30.4M | ||
| Q2 25 | $336.8M | $19.2M | ||
| Q1 25 | $325.5M | $34.5M | ||
| Q4 24 | $334.7M | $190.7M | ||
| Q3 24 | $231.3M | $177.7M | ||
| Q2 24 | $256.0M | $154.3M | ||
| Q1 24 | $249.4M | $124.3M |
| Q4 25 | — | $1.7M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
| Q4 25 | $542.1M | $389.3M | ||
| Q3 25 | $537.7M | $402.4M | ||
| Q2 25 | $532.2M | $401.3M | ||
| Q1 25 | $517.4M | $415.3M | ||
| Q4 24 | $517.8M | $421.1M | ||
| Q3 24 | $400.2M | $417.6M | ||
| Q2 24 | $388.4M | $397.2M | ||
| Q1 24 | $382.8M | $375.5M |
| Q4 25 | $612.9M | $530.2M | ||
| Q3 25 | $613.2M | $541.2M | ||
| Q2 25 | $608.9M | $533.7M | ||
| Q1 25 | $590.9M | $562.5M | ||
| Q4 24 | $592.2M | $725.8M | ||
| Q3 24 | $477.3M | $709.8M | ||
| Q2 24 | $443.6M | $697.0M | ||
| Q1 24 | $435.3M | $687.2M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.48× |
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 | $9.9M | $5.7M |
| Free Cash FlowOCF − Capex | $6.1M | — |
| FCF MarginFCF / Revenue | 5.7% | — |
| Capex IntensityCapex / Revenue | 3.6% | — |
| Cash ConversionOCF / Net Profit | 32.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $25.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $9.9M | $5.7M | ||
| Q3 25 | $7.0M | $53.4M | ||
| Q2 25 | $14.4M | $11.1M | ||
| Q1 25 | $9.4M | $3.9M | ||
| Q4 24 | $7.1M | $30.6M | ||
| Q3 24 | $9.2M | $31.4M | ||
| Q2 24 | $10.7M | $39.1M | ||
| Q1 24 | $3.2M | $50.6M |
| Q4 25 | $6.1M | — | ||
| Q3 25 | $2.9M | — | ||
| Q2 25 | $10.2M | — | ||
| Q1 25 | $6.0M | $-11.6M | ||
| Q4 24 | $4.4M | — | ||
| Q3 24 | $5.9M | — | ||
| Q2 24 | $8.0M | — | ||
| Q1 24 | $43.0K | — |
| Q4 25 | 5.7% | — | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | 10.1% | — | ||
| Q1 25 | 6.0% | -21.1% | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 6.8% | — | ||
| Q2 24 | 9.7% | — | ||
| Q1 24 | 0.1% | — |
| Q4 25 | 3.6% | — | ||
| Q3 25 | 3.9% | — | ||
| Q2 25 | 4.1% | — | ||
| Q1 25 | 3.3% | 28.2% | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 4.0% | — |
| Q4 25 | 32.34× | — | ||
| Q3 25 | 5.92× | — | ||
| Q2 25 | 2.73× | — | ||
| Q1 25 | 3.21× | — | ||
| Q4 24 | 1.56× | 2.44× | ||
| Q3 24 | 2.15× | 1.57× | ||
| Q2 24 | — | 2.13× | ||
| Q1 24 | — | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GDYN
| Other | $30.6M | 29% |
| Technology Media And Telecom | $30.1M | 28% |
| Financial Service | $24.3M | 23% |
| Manufactured Product Other | $10.8M | 10% |
| Related Party | $7.6M | 7% |
| Health Care | $2.8M | 3% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
