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EPAM Systems, Inc. (NYSE: EPAM) is a global leader in software product development, digital platform engineering, and technology consulting based in the United States. Established in 1993, EPAM has built a reputation for excellence, recognized by independent research agencies and industry leaders globally. The company operates in over 20 countries across North America, Europe, Asia, and Australia, delivering innovative solutions to clients worldwide.
EPAM's core offerings include digital and cloud engineering, AI-enabled transformation services, and comprehensive business and experience consulting. The company's largest market is North America, accounting for approximately 60% of its revenues. EPAM has expertise in emerging technologies like artificial intelligence, virtual reality, and robotics, helping businesses stay ahead in a rapidly evolving tech landscape.
Recent achievements highlight EPAM's strong market position. The company was added to the S&P 500 and the Forbes Global 2000 in 2021 and has been recognized by Glassdoor as a Best Workplace in 2023 and 2024. EPAM's multidisciplinary teams, comprising consultants, architects, designers, and engineers, serve clients across six continents, ensuring local engagement and global delivery.
EPAM continues to expand its capabilities through strategic acquisitions and partnerships. Notably, the acquisition of Vates S.A. in 2024 bolstered EPAM's software development portfolio and enhanced its delivery capabilities in Latin America. Additionally, EPAM has been honored with several industry awards, including the 2024 Google Cloud Talent Development Partner of the Year Award in North America, reflecting its commitment to innovation and excellence in talent development.
Financially, EPAM has demonstrated resilience and adaptability, navigating volatile market conditions and refining its growth strategies. The company focuses on harmonizing delivery quality, optimizing cost-effectiveness, and leveraging its extensive experience in data, engineering, and consulting to capitalize on opportunities in the AI space. EPAM supplements its GAAP results with non-GAAP financial measures to provide a clearer picture of underlying business trends and performance.
EPAM's latest project, OSPulse™, an enterprise-level analytics dashboard, showcases the company's continuous innovation. OSPulse™ helps organizations monitor open source engagement, offering valuable insights for strategic decision-making. EPAM's commitment to the open source community is reflected in its extensive contributions and initiatives like the Open Source Contributor Index (OSCI), furthering technological innovation and community engagement.
For more information about EPAM Systems, visit www.epam.com.
EPAM Systems reported Q4 2024 revenues of $1.248 billion, up 7.9% year-over-year, with organic constant currency growth of 1.0%. Q4 GAAP diluted EPS increased 8.4% to $1.80, while non-GAAP diluted EPS rose 3.3% to $2.84.
For full-year 2024, revenues grew 0.8% to $4.728 billion, though organic constant currency revenues declined 1.7%. The company received $68.8 million in Polish R&D government incentives. GAAP diluted EPS increased 11.0% to $7.84, and non-GAAP diluted EPS rose 2.5% to $10.86.
Notable acquisitions included NEORIS and First Derivative, expanding EPAM's Latin American presence and financial services capabilities. The company's 2025 outlook projects revenue growth of 10.0-14.0%, with organic constant currency growth of 1.0-5.0%. GAAP diluted EPS is expected between $6.78-$7.08, and non-GAAP diluted EPS between $10.45-$10.75.
EPAM Systems (NYSE: EPAM) has been recognized as the Top IT Vendor in Europe for the second consecutive year by Whitelane Research in their 2024/2025 IT Sourcing Study. The study evaluated over 6,000 unique IT sourcing relationships from nearly 2,300 participants across Europe's top IT spending organizations.
EPAM achieved exceptional performer status across multiple categories, securing top rankings in key areas:
- Service Delivery Quality: Ranked #1 with 84%
- Application Services: 82%
- Account Management Quality: 82%
- General Satisfaction: 81%
- Digital Transformation: 79%
- Transformative Innovation: Ranked #1 with 78%
The company's strong performance extends beyond this recognition, with positive results in previous IT sourcing studies across Germany, Switzerland, the UK, Nordics, Netherlands, and Europe 2024.
EPAM Systems (NYSE: EPAM) announced an expanded collaboration with Baker Hughes as their systems integration partner for digital and AI implementations in the energy sector. The partnership aims to transform workflows, enhance operational efficiency, and deliver innovative solutions for environmental benefits through EPAM's digital engineering capabilities combined with Baker Hughes' energy technology expertise.
The collaboration supports Baker Hughes' 2030 commitment to expand its digital revenue stream and promote sustainable energy development. The partnership will be highlighted at the 2025 Baker Hughes Annual Meeting (AM25) in Florence, Italy, from February 2-4, featuring EPAM's CEO keynote speech, interactive kiosks showcasing EPAM's JenAii™ virtual assistant, and a Tech Talk on AI agents in energy.
EPAM Systems (NYSE: EPAM) has announced it will host a conference call on Thursday, February 20, 2025, at 8:00 a.m. ET to discuss its fourth quarter 2024 financial results. The company will release its financial results before the call. The conference call will be accessible via live webcast on EPAM's investor relations website, with registration required at least 15 minutes before the event. A replay will be available in the Investor Relations section for those unable to attend the live webcast.
EPAM Systems has expanded its strategic partnership with Google Cloud to deliver advanced industry solutions across media and entertainment, energy, and retail sectors. The collaboration will utilize Google Cloud's Vertex AI platform to provide generative AI, legacy modernization, and data analytics capabilities.
The company introduced four new solutions: Video Search and Indexing for media and entertainment, JenAii™ for retail customer assistance, Geospatial Data Visualization for energy sector decision-making, and Talk to Your Data for simplified data analysis. EPAM will leverage its expanded presence in Ibero markets through Neoris acquisition and strengthen financial services offerings across Europe, North America, and APAC through First Derivative acquisition.
EPAM Systems has achieved notable recognition in Newsweek's 2025 Excellence 1000 Index, ranking #754 overall and securing a position in the Top 5 for IT Services and IT Consulting. The index, developed in collaboration with the Best Practice Institute, evaluates companies based on financial responsibility, stakeholder ratings, and social responsibility.
The assessment involved analyzing over half a million data points across multiple criteria, including employee and customer ratings, ESG risk ratings, ISO standards adherence, R&D spending, and Global Compact status. EPAM's recognition highlights its commitment to client service, engineering excellence, and sustainability.
The company has maintained its position as a 'Most Loved Workplace' in Newsweek's Top 100 for four consecutive years. In 2024, EPAM expanded its capabilities through strategic acquisitions of First Derivative, Neoris, Odysseus Data Services, and Vates, enhancing its AI, data-driven solutions, cloud, engineering, testing, and digital services offerings.
EPAM Systems has completed its acquisition of First Derivative, a managed services and consulting business for capital markets with over 1,800 employees worldwide. First Derivative brings extensive expertise in capital markets consulting and technology capabilities, including application development, real-time data platforms, and AI solutions. The acquisition enhances EPAM's financial services delivery capabilities across North America, Europe, and APAC regions. The strategic partnership combines EPAM's digital, AI, cloud, and engineering capabilities with First Derivative's specialized knowledge in financial services and regulated industries. The merged entity aims to deliver comprehensive AI-enabled solutions to clients in banking, capital markets, and financially regulated businesses.
EPAM Systems announced the release of StatGPT 2.0 Platform, developed in collaboration with the International Monetary Fund (IMF) for SDMX sponsor organizations and selected national statistical organizations. The platform, built on EPAM DIAL technology, enables natural language access to global economic and financial data. StatGPT 2.0 was evaluated using eight public datasets and tested by over 100 representatives from SDMX sponsoring institutions. The platform represents an advancement in statistical data management, offering improved efficiency in data queries and user guidance.
EPAM Systems reported Q3 2024 revenues of $1.168 billion, up 1.3% year-over-year. GAAP income from operations was 15.2% of revenues, while non-GAAP income was 19.1%. The company recorded a $52.0 million benefit from Polish R&D government incentives. GAAP diluted EPS increased to $2.37, up $0.72, and non-GAAP diluted EPS rose to $3.12, up $0.39 year-over-year. EPAM raised its full-year 2024 outlook, expecting revenues between $4.685-4.695 billion. The company completed the acquisition of NEORIS, adding approximately 4,800 professionals across Latin America, Spain, and the U.S.
EPAM Systems has completed its acquisition of NEORIS, a Miami-based global technology consultancy with approximately 4,800 professionals. NEORIS operates across major talent hubs in Latin America, Spain, and the U.S., specializing in digital transformation projects for various industries including Manufacturing, Banking, CPG & Retail, and Telco & Media. The acquisition was made from funds managed by Advent International and Cemex. This strategic move enhances EPAM's delivery capabilities in Latin America and Europe while expanding its global and nearshore delivery capabilities across North America, India, and Europe.
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