EPAM Reports Results for Third Quarter 2026

(NYSE:EPAM) EPAM Systems, Inc. reported third quarter 2026 revenues of $1.426 billion, representing a year-over-year increase of $32.1 million or 2.3%, and a 2.5% increase on an organic constant currency basis. GAAP income from operations for the quarter was $175.9 million, up $31.0 million or 21.4% from $144.9 million in Q3 2025, and represented 12.3% of revenues, up from 10.4% a year earlier. Non-GAAP income from operations was $238.4 million, an increase of $15.6 million or 7.0% from $222.8 million in Q3 2025, and accounted for 16.7% of revenues, up from 16.0%. GAAP diluted EPS for the quarter was $2.53, up $0.62 or 32.5% from $1.91 in Q3 2025, while non-GAAP diluted EPS was $3.51, up $0.43 or 14.0% from $3.08. Cash provided by operating activities for Q3 2026 was $288.8 million, compared to $294.7 million in Q3 2025. For the first nine months of 2026, cash provided by operating activities was $250.1 million, down from $372.0 million in the same period of 2025. As of September 30, 2026, cash, cash equivalents, and restricted cash totaled $969.9 million, a decrease of $331.4 million or 25.5% from $1.301 billion at December 31, 2025. Total headcount as of September 30, 2026 was approximately 63,650, including about 57,350 delivery professionals, a 1.2% increase from June 30, 2026. EPAM has returned approximately $1.7 billion to shareholders since initiating its repurchase programs in 2023, including $489 million on share repurchases in the first nine months of 2026 and $80 million in Q3 2026. The Board of Directors approved an incremental $1.5 billion in repurchase authorization, bringing the total remaining authorization to $1.8 billion through December 31, 2029, and EPAM plans to enter a $500 million accelerated share repurchase during the week of November 9, 2026. The company commits to return at least 50% of free cash flow to shareholders annually from 2027 through 2029. For full year 2026, EPAM expects revenue growth of 3.5% to 3.7% year-over-year, and 2.5% to 2.7% on an organic constant currency basis. Full year GAAP income from operations is expected to be 10.7% to 10.9% of revenues, and non-GAAP income from operations 15.9% to 16.1%. The company expects a GAAP effective tax rate of approximately 27% and non-GAAP effective tax rate of approximately 24%. Full year GAAP diluted EPS is expected to be $8.41 to $8.49, and non-GAAP diluted EPS $13.23 to $13.31, with weighted average diluted shares outstanding of 52.0 million. For Q4 2026, EPAM expects revenues of $1.405 billion to $1.420 billion, a year-over-year change of (0.2)% to 0.9%, and organic constant currency growth of 0.5% to 1.6%. Q4 GAAP income from operations is expected to be 11.5% to 12.5% of revenues, and non-GAAP income from operations 16.0% to 17.0%. Q4 GAAP diluted EPS is expected to be $2.43 to $2.51, and non-GAAP diluted EPS $3.50 to $3.58, with weighted average diluted shares outstanding of 49.9 million. The Board terminated and replaced the prior repurchase program (including its remaining $293 million authorization) with the new $1.8 billion program. CEO & President Balazs Fejes stated that the company delivered better-than-expected results, continued margin expansion, and increased capital return to shareholders, and highlighted the launch of Frontier AI Services and scaling of strategic partnerships.

EPAM and OpenAI Partner to Help Enterprises Unlock Higher Value Through Applied AI

(NYSE: EPAM) EPAM Systems, Inc. announced that it has joined the OpenAI Partner Network as an OpenAI Advanced Partner to help global enterprises implement safer, scalable AI solutions. EPAM's forward-deployed engineers will integrate OpenAI's models into new and existing operations, address industry-specific compliance and security requirements, and deliver world-class customer experiences. The collaboration pairs OpenAI's frontier models with EPAM's global forward-deployed engineering force, cyber resilience and innovative customer experience expertise.

EPAM Awarded 2026 Databricks Consulting and Systems Integrator AI Partner of the Year for Helping Enterprises Scale AI into Measurable Business Impact

(NYSE: EPAM) EPAM Systems, Inc. has been recognized as the 2026 Databricks Consulting & Systems Integrator AI Partner of the Year. The award was presented at the annual Data + AI Summit and highlights EPAM's collaboration with Databricks in helping enterprise organizations advance data, analytics, and AI transformation at scale. EPAM's delivery approach and AI accelerators were recognized for helping organizations reduce decision cycles from days to minutes and decrease reliance on manual reporting. EPAM has developed industry-specific AI accelerators for clients in healthcare and life sciences, consumer goods and retail, manufacturing, media, and other industries. In an engagement with a leading marketing data and analytics company, EPAM helped deliver the client's first modern enterprise data platform on Databricks and Microsoft Azure. The press release includes forward-looking statements regarding developments relating to the war in Ukraine, adoption and implementation of artificial intelligence technologies by EPAM and its clients, and the effect of these events on client demand, revenues, operations, access to capital, and profitability.

EPAM and TGS Announce Strategic Collaboration to Accelerate AI Adoption at Scale in Energy Sector

(NYSE:EPAM) EPAM Systems, Inc. and TGS announced the successful deployment of TGS Imaging AnyWare® on Amazon Web Services (AWS). TGS has begun the migration of its imaging systems to AWS Cloud to leverage the agility, cost and performance benefits of elastic cloud infrastructure. The next-generation platform enables select seismic imaging workflows to run much faster with lower computing costs. This milestone advances the Companies' ongoing work to optimize and AI-enable workflows across the energy sector. EPAM and TGS announced a strategic collaboration to accelerate AI adoption at scale in the energy sector.

EPAM Showcases Production-Ready AI-Powered ServiceNow Development at Knowledge 2026

EPAM Systems, Inc. (NYSE: EPAM) announced its production-ready AI capabilities for ServiceNow development at Knowledge 2026, held May 5–7, 2026, in Las Vegas, NV. The company is already applying these AI-powered solutions in production to accelerate ServiceNow instance configuration, code management, and feature delivery. EPAM claims its AI-powered ServiceNow solutions can drive up to a 35% improvement in development efficiency and approximately 50% in support. The announcement highlights EPAM's over 30 years of experience in enterprise-grade applications and its recognition as a leader in AI transformation engineering. Investors should note the company's focus on measurable business outcomes and its commitment to innovation in AI-native enterprise solutions.

EPAM's Engineering and Sustainability Impact Recognized with Two 2026 Google Cloud Partner of the Year Awards

EPAM Systems, Inc. (NYSE: EPAM) announced it has earned two 2026 Google Cloud Partner of the Year awards. The awards recognize EPAM for helping clients achieve measurable business outcomes with AI-powered cloud solutions. The announcement was made on April 22, 2026, in Newtown, Pa. This recognition highlights EPAM's role in assisting enterprises to cut costs and accelerate growth.