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Side-by-side financial comparison of GRID DYNAMICS HOLDINGS, INC. (GDYN) and Vanda Pharmaceuticals Inc. (VNDA). 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 $57.2M, roughly 1.8× Vanda Pharmaceuticals Inc.). GRID DYNAMICS HOLDINGS, INC. runs the higher net margin — -1.4% vs -246.8%, a 245.3% gap on every dollar of revenue. On growth, Vanda Pharmaceuticals Inc. posted the faster year-over-year revenue change (7.6% vs 3.7%). Over the past eight quarters, GRID DYNAMICS HOLDINGS, INC.'s revenue compounded faster (12.0% CAGR vs 9.8%).
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.
Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on developing and commercializing innovative therapies for central nervous system disorders. Its key marketed products cover indications including sleep-wake cycle disturbances and schizophrenia, with core operations and primary sales markets concentrated in North America, catering to patient groups with significant unmet medical needs.
GDYN vs VNDA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.1M | $57.2M |
| Net Profit | $-1.5M | $-141.2M |
| Gross Margin | 34.8% | — |
| Operating Margin | 61.7% | -70.5% |
| Net Margin | -1.4% | -246.8% |
| Revenue YoY | 3.7% | 7.6% |
| Net Profit YoY | -150.6% | -2774.3% |
| EPS (diluted) | $-0.02 | $-2.40 |
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 | $57.2M | ||
| Q3 25 | $104.2M | $56.3M | ||
| Q2 25 | $101.1M | $52.6M | ||
| Q1 25 | $100.4M | $50.0M | ||
| Q4 24 | $100.3M | $53.2M | ||
| Q3 24 | $87.4M | $47.7M | ||
| Q2 24 | $83.0M | $50.5M |
| Q1 26 | $-1.5M | — | ||
| Q4 25 | $306.0K | $-141.2M | ||
| Q3 25 | $1.2M | $-22.6M | ||
| Q2 25 | $5.3M | $-27.2M | ||
| Q1 25 | $2.9M | $-29.5M | ||
| Q4 24 | $4.5M | $-4.9M | ||
| Q3 24 | $4.3M | $-5.3M | ||
| Q2 24 | $-817.0K | $-4.5M |
| 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% | -70.5% | ||
| Q3 25 | -0.2% | -55.6% | ||
| Q2 25 | -0.1% | -73.2% | ||
| Q1 25 | -2.0% | -82.0% | ||
| Q4 24 | 1.3% | -19.3% | ||
| Q3 24 | 2.4% | -23.1% | ||
| Q2 24 | 0.0% | -20.1% |
| Q1 26 | -1.4% | — | ||
| Q4 25 | 0.3% | -246.8% | ||
| Q3 25 | 1.1% | -40.1% | ||
| Q2 25 | 5.2% | -51.7% | ||
| Q1 25 | 2.9% | -58.9% | ||
| Q4 24 | 4.5% | -9.2% | ||
| Q3 24 | 4.9% | -11.2% | ||
| Q2 24 | -1.0% | -9.0% |
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $0.01 | $-2.40 | ||
| Q3 25 | $0.01 | $-0.38 | ||
| Q2 25 | $0.06 | $-0.46 | ||
| Q1 25 | $0.03 | $-0.50 | ||
| Q4 24 | $0.06 | $-0.09 | ||
| Q3 24 | $0.05 | $-0.09 | ||
| Q2 24 | $-0.01 | $-0.08 |
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 | $84.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $530.1M | $327.2M |
| Total Assets | $605.0M | $488.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $327.5M | — | ||
| Q4 25 | $342.1M | $84.9M | ||
| Q3 25 | $338.6M | $70.0M | ||
| Q2 25 | $336.8M | $81.0M | ||
| Q1 25 | $325.5M | $111.8M | ||
| Q4 24 | $334.7M | $102.3M | ||
| Q3 24 | $231.3M | $100.5M | ||
| Q2 24 | $256.0M | $103.0M |
| Q1 26 | $530.1M | — | ||
| Q4 25 | $542.1M | $327.2M | ||
| Q3 25 | $537.7M | $466.0M | ||
| Q2 25 | $532.2M | $486.3M | ||
| Q1 25 | $517.4M | $511.4M | ||
| Q4 24 | $517.8M | $538.5M | ||
| Q3 24 | $400.2M | $541.2M | ||
| Q2 24 | $388.4M | $542.5M |
| Q1 26 | $605.0M | — | ||
| Q4 25 | $612.9M | $488.9M | ||
| Q3 25 | $613.2M | $601.1M | ||
| Q2 25 | $608.9M | $624.7M | ||
| Q1 25 | $590.9M | $631.9M | ||
| Q4 24 | $592.2M | $656.2M | ||
| Q3 24 | $477.3M | $645.1M | ||
| Q2 24 | $443.6M | $651.4M |
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 | — | $-29.4M |
| Free Cash FlowOCF − Capex | — | $-29.5M |
| FCF MarginFCF / Revenue | — | -51.6% |
| Capex IntensityCapex / Revenue | — | 0.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-110.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $9.9M | $-29.4M | ||
| Q3 25 | $7.0M | $-31.6M | ||
| Q2 25 | $14.4M | $-15.3M | ||
| Q1 25 | $9.4M | $-33.1M | ||
| Q4 24 | $7.1M | $-1.8M | ||
| Q3 24 | $9.2M | $-14.6M | ||
| Q2 24 | $10.7M | $-6.9M |
| Q1 26 | — | — | ||
| Q4 25 | $6.1M | $-29.5M | ||
| Q3 25 | $2.9M | $-31.8M | ||
| Q2 25 | $10.2M | $-15.6M | ||
| Q1 25 | $6.0M | $-33.6M | ||
| Q4 24 | $4.4M | $-2.0M | ||
| Q3 24 | $5.9M | $-14.7M | ||
| Q2 24 | $8.0M | $-7.0M |
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | -51.6% | ||
| Q3 25 | 2.8% | -56.5% | ||
| Q2 25 | 10.1% | -29.6% | ||
| Q1 25 | 6.0% | -67.1% | ||
| Q4 24 | 4.4% | -3.8% | ||
| Q3 24 | 6.8% | -30.9% | ||
| Q2 24 | 9.7% | -13.9% |
| Q1 26 | — | — | ||
| Q4 25 | 3.6% | 0.2% | ||
| Q3 25 | 3.9% | 0.3% | ||
| Q2 25 | 4.1% | 0.6% | ||
| Q1 25 | 3.3% | 0.9% | ||
| Q4 24 | 2.6% | 0.4% | ||
| Q3 24 | 3.7% | 0.3% | ||
| Q2 24 | 3.2% | 0.2% |
| 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.
Revenue Breakdown by Segment
GDYN
Segment breakdown not available.
VNDA
| Fanapt | $33.2M | 58% |
| Hetlioz | $16.4M | 29% |
| PONVORY | $7.6M | 13% |
