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Side-by-side financial comparison of GRID DYNAMICS HOLDINGS, INC. (GDYN) and Vericel Corp (VCEL). 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 $92.9M, roughly 1.1× Vericel Corp). Vericel Corp runs the higher net margin — 25.0% vs -1.4%, a 26.4% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 3.7%). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% 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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
GDYN vs VCEL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.1M | $92.9M |
| Net Profit | $-1.5M | $23.2M |
| Gross Margin | 34.8% | 78.7% |
| Operating Margin | 61.7% | 24.1% |
| Net Margin | -1.4% | 25.0% |
| Revenue YoY | 3.7% | 23.3% |
| Net Profit YoY | -150.6% | 17.3% |
| EPS (diluted) | $-0.02 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $104.2M | $67.5M | ||
| Q2 25 | $101.1M | $63.2M | ||
| Q1 25 | $100.4M | $52.6M | ||
| Q4 24 | $100.3M | $75.4M | ||
| Q3 24 | $87.4M | $57.9M | ||
| Q2 24 | $83.0M | $52.7M |
| Q1 26 | $-1.5M | — | ||
| Q4 25 | $306.0K | $23.2M | ||
| Q3 25 | $1.2M | $5.1M | ||
| Q2 25 | $5.3M | $-553.0K | ||
| Q1 25 | $2.9M | $-11.2M | ||
| Q4 24 | $4.5M | $19.8M | ||
| Q3 24 | $4.3M | $-901.0K | ||
| Q2 24 | $-817.0K | $-4.7M |
| Q1 26 | 34.8% | — | ||
| Q4 25 | 34.0% | 78.7% | ||
| Q3 25 | 33.3% | 73.5% | ||
| Q2 25 | 34.1% | 73.7% | ||
| Q1 25 | 36.8% | 69.0% | ||
| Q4 24 | 36.9% | 77.6% | ||
| Q3 24 | 37.4% | 71.9% | ||
| Q2 24 | 35.6% | 69.5% |
| Q1 26 | 61.7% | — | ||
| Q4 25 | 0.5% | 24.1% | ||
| Q3 25 | -0.2% | 5.1% | ||
| Q2 25 | -0.1% | -3.2% | ||
| Q1 25 | -2.0% | -24.3% | ||
| Q4 24 | 1.3% | 24.5% | ||
| Q3 24 | 2.4% | -4.3% | ||
| Q2 24 | 0.0% | -11.5% |
| Q1 26 | -1.4% | — | ||
| Q4 25 | 0.3% | 25.0% | ||
| Q3 25 | 1.1% | 7.5% | ||
| Q2 25 | 5.2% | -0.9% | ||
| Q1 25 | 2.9% | -21.4% | ||
| Q4 24 | 4.5% | 26.3% | ||
| Q3 24 | 4.9% | -1.6% | ||
| Q2 24 | -1.0% | -8.9% |
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $0.01 | $0.46 | ||
| Q3 25 | $0.01 | $0.10 | ||
| Q2 25 | $0.06 | $-0.01 | ||
| Q1 25 | $0.03 | $-0.23 | ||
| Q4 24 | $0.06 | $0.40 | ||
| Q3 24 | $0.05 | $-0.02 | ||
| Q2 24 | $-0.01 | $-0.10 |
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 | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $530.1M | $354.6M |
| Total Assets | $605.0M | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $327.5M | — | ||
| Q4 25 | $342.1M | $137.5M | ||
| Q3 25 | $338.6M | $135.4M | ||
| Q2 25 | $336.8M | $116.9M | ||
| Q1 25 | $325.5M | $112.9M | ||
| Q4 24 | $334.7M | $116.2M | ||
| Q3 24 | $231.3M | $101.7M | ||
| Q2 24 | $256.0M | $102.5M |
| Q1 26 | $530.1M | — | ||
| Q4 25 | $542.1M | $354.6M | ||
| Q3 25 | $537.7M | $321.9M | ||
| Q2 25 | $532.2M | $306.8M | ||
| Q1 25 | $517.4M | $295.5M | ||
| Q4 24 | $517.8M | $292.0M | ||
| Q3 24 | $400.2M | $257.5M | ||
| Q2 24 | $388.4M | $243.0M |
| Q1 26 | $605.0M | — | ||
| Q4 25 | $612.9M | $488.0M | ||
| Q3 25 | $613.2M | $453.3M | ||
| Q2 25 | $608.9M | $435.6M | ||
| Q1 25 | $590.9M | $424.6M | ||
| Q4 24 | $592.2M | $432.7M | ||
| Q3 24 | $477.3M | $390.4M | ||
| Q2 24 | $443.6M | $376.8M |
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 | — | $15.0M |
| Free Cash FlowOCF − Capex | — | $12.8M |
| FCF MarginFCF / Revenue | — | 13.8% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $9.9M | $15.0M | ||
| Q3 25 | $7.0M | $22.1M | ||
| Q2 25 | $14.4M | $8.2M | ||
| Q1 25 | $9.4M | $6.6M | ||
| Q4 24 | $7.1M | $22.2M | ||
| Q3 24 | $9.2M | $10.2M | ||
| Q2 24 | $10.7M | $18.5M |
| Q1 26 | — | — | ||
| Q4 25 | $6.1M | $12.8M | ||
| Q3 25 | $2.9M | $19.5M | ||
| Q2 25 | $10.2M | $81.0K | ||
| Q1 25 | $6.0M | $-7.6M | ||
| Q4 24 | $4.4M | $8.5M | ||
| Q3 24 | $5.9M | $-9.2M | ||
| Q2 24 | $8.0M | $1.8M |
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | 13.8% | ||
| Q3 25 | 2.8% | 28.8% | ||
| Q2 25 | 10.1% | 0.1% | ||
| Q1 25 | 6.0% | -14.5% | ||
| Q4 24 | 4.4% | 11.2% | ||
| Q3 24 | 6.8% | -15.9% | ||
| Q2 24 | 9.7% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.6% | 2.4% | ||
| Q3 25 | 3.9% | 3.9% | ||
| Q2 25 | 4.1% | 12.9% | ||
| Q1 25 | 3.3% | 27.0% | ||
| Q4 24 | 2.6% | 18.3% | ||
| Q3 24 | 3.7% | 33.5% | ||
| Q2 24 | 3.2% | 31.8% |
| Q1 26 | — | — | ||
| Q4 25 | 32.34× | 0.65× | ||
| Q3 25 | 5.92× | 4.35× | ||
| Q2 25 | 2.73× | — | ||
| Q1 25 | 3.21× | — | ||
| Q4 24 | 1.56× | 1.12× | ||
| Q3 24 | 2.15× | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GDYN
Segment breakdown not available.
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
