Leonard Livschitz: So first of all, now we have a very angry Anil. So your friend is becoming much more clear in terms of the very detailed action items, going into next year. You don’t always take the wishful thinking for implementation. I mean, we moved from Russia to some countries in Central Europe, right? It was the bulk, right? We moved, and we continued to spend in India and we need to see that margin profile to capitalize because still there’s a significant contribution to India comes from the acquisitions. It’s growing organically and that’s why nobody spoke that I can do more than organic before you keep jumping companies. But you probably noticed we were mentioned the third center, right, I mean, I’m sure you don’t have to be a super genius to know where this third city is.
We are in Chennai, we’re in Hyderabad, it’s Bangalore, right? And there’s a good reason why is Bangalore right. So it gives us momentum on this margin profile because we need to address this and follow the sun strategy. The other thing is, when we expand in Europe, we are becoming more selective about not going into too many digitized countries, which is a tough call, right? People love to collect the country. So we have 18, right? But small is merrier, we can control the internship programs, training programs, maintenance, the depth in the offices, where we are. That’s another way. But that will go back to the most, the hardest part is the pricing, right? So we start making some calls and those are tough calls. Again, there is always a balance in my life, I’ve seen multiple times – you can chase revenue, you can chase profits, neither is success.
So the way to chase revenue is to chase, stable long-term revenue, at least how you plan it, and then bring them down into the clients then they actually pay for it, right? And we signed some really interesting contracts, but I’m not a little boring guy, too. I’m trying to be honest, and I want to make sure the Grid Dynamics brand remains, and we are going into ‘the fair relationship’. So that means a few of the projects could have been – the feathers may not be there because we want to start on the proper pricing positioning. But in case – in some cases, we have to do some more aggressive investment into the brand. I don’t like the word investment because to me investment is technologies, people, new investments, customer we invest in, and their ROI and not of the discount.
Puneet Jain: Agreed. Thank you so much.
Leonard Livschitz: So maybe will go back and see if Ryan is still there?
Bin Jiang: Sure. Let me try one more time. Ryan, can you please try your telephone line, see if it works. So I guess there’s some technical limitation for Zoom panelist. Okay. At this moment, that will be all of the Q&A session for today. I will now pass the call back to Leonard for the closing remarks.
Leonard Livschitz: Thank you everybody for joining us on the call today. I am more bullish than I was three months ago. Our core business is rebounding and revenues from our new logos and recent logos grow. Our goals are clear – to leverage our GigaCube roadmap to become a billion-dollar revenue company. We are diligently focused on executing the stated goals. More importantly, our clients continue to place their confidence in Grid Dynamics abilities. This is a testament of the hard work across the entire company, and I truly appreciate the contributions from each and every of our employees. On November 16th we will be hosting our first Investor and Analyst Day. I would highly recommend you attend in-person. It will be a great opportunity to meet the expanded management team.
We plan to delve into our capabilities and our service offerings. We plan to have demos around Generative AI that will provide some insights into our technology leadership. I also believe the investors will find the event insightful. Looking forward to seeing you all in two weeks. Thank you.
Bin Jiang: Ladies and gentlemen, this concludes today’s conference call. Thank you all for participating.
