EPAM Makes Fortune's '100 Fastest-Growing Companies' List for the Second Year as the Top IT Services Company

Rhea-AI Summary

EPAM Systems, a leader in digital platform engineering, has been named the top IT services company on Fortune's 2020 100 Fastest-Growing Companies list, climbing to #21. This marks the second consecutive year EPAM achieved this honor. The company has nearly doubled its revenue over the past three years and operates in over 35 countries with more than 38,000 employees. EPAM's 10-year revenue CAGR stands at 31%. The pandemic accelerated digital transformation, positioning EPAM as a trusted partner for businesses navigating technology changes.

Positive

• Ranked #21 on Fortune's 2020 100 Fastest-Growing Companies list, up 50 positions from the previous year.
• Achieved nearly doubled revenue over the last three years.
• 10-year revenue CAGR of 31% demonstrates strong growth.
• Expanded operations in over 35 countries with a workforce exceeding 38,000 employees.

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• None.

NEWTOWN, Pa., Nov. 11, 2020 /PRNewswire/ -- EPAM Systems, Inc. (NYSE: EPAM), a leading global provider of digital platform engineering and software development services, today announced that it has, for the second year in a row, been named the top IT services company on the 2020 Fortune 100 Fastest-Growing Companies list—climbing an impressive fifty positions to #21.

Fortune's 100 Fastest-Growing Companies are publicly traded companies ranked each year by revenue growth rate, EPS growth rate and three-year annualized total return. The overall rank is based on the sum of three ranks. In the last 3 years, EPAM has practically doubled its revenue and scaled its unique integrated consulting and engineering delivery operations to more than 35 countries and 38,000+ employees.

"We are pleased to once again be acknowledged on Fortune's 100 Fastest-Growing Companies list," said Arkadiy Dobkin, CEO and President, EPAM. "Ranking for the second year in a row as the top IT services company on the list, demonstrates the continued strength of our value proposition as we help our customers pivot and adapt to a fast changing, and sometimes very unpredictable, global environment. We remain focused on delivering next generation digital platforms and solutions for our clients, by continuously investing in our people, in our own delivery eco-system, and in our new consulting and engineering capabilities."

EPAM has achieved a 10-year revenue CAGR of 31% between FY09 and FY19. With the onset of the global pandemic, businesses were forced to expedite their digital transformation projects and relied on EPAM as a trusted digital partner—working closely with its global customers to help them become digital at their core—transforming not only their technology strategy, but also business, design and operations to run smarter and faster in markets that are continually facing technology change.

To learn more about EPAM, visit www.epam.com.

To learn more about Fortune's 2020 list of the 100 Fastest-Growing Companies, visit https://fortune.com/100-fastest-growing-companies/2020/.

About EPAM Systems
Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its software engineering expertise to become a leading global product development, digital platform engineering, and top digital and product design agency. Through its 'Engineering DNA' and innovative strategy, consulting, and design capabilities, EPAM works in collaboration with its customers to deliver next-gen solutions that turn complex business challenges into real business outcomes. EPAM's global teams serve customers in more than 35 countries across North America, Europe, Asia and Australia. As a recognized market leader in multiple categories among top global independent research agencies, EPAM was one of only four technology companies to appear on Forbes 25 Fastest Growing Public Tech Companies list every year of publication since 2013 and ranked as the top IT services company on Fortune's 100 Fastest-Growing Companies list in 2019 and 2020. Learn more at www.epam.com and follow us on Twitter @EPAMSYSTEMS and LinkedIn.

Forward-Looking Statements
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

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SOURCE EPAM Systems, Inc.

FAQ

What position did EPAM achieve on Fortune's 2020 Fastest-Growing Companies list?

EPAM ranked #21 on Fortune's 2020 100 Fastest-Growing Companies list.

How much has EPAM's revenue grown in the last three years?

EPAM has nearly doubled its revenue in the last three years.

What is EPAM's revenue CAGR over the past 10 years?

EPAM's 10-year revenue CAGR is 31%.

How many employees does EPAM have?

EPAM has more than 38,000 employees globally.

What was EPAM's rank among IT services companies in 2020?

EPAM was the top IT services company on Fortune's 2020 list.