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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.
The MACH Alliance has announced its inaugural MACHathon, scheduled from January 22 to 29, 2021, aimed at leveraging MACH technology in ecommerce solutions. The event encourages participants to develop innovative projects that help society overcome challenges posed by the COVID-19 pandemic, with a theme of "Getting Unstuck". Teams will utilize microservices-based applications and receive mentorship from experts. Awards will be given across various categories, including Maturity, Usability, and the 1st Annual MACHnificent award. Founding members include EPAM, among others.
EPAM Systems has announced a conference call scheduled for February 18, 2021, at 8:00 a.m. ET to discuss its fourth quarter 2020 financial results. A press release with these results will be issued prior to the call. Investors can join the call through a webcast on the company's Investor Relations page or by phone using conference ID: 4899490. A replay will be accessible from February 18 until February 25. EPAM is recognized for its innovative software engineering solutions across more than 35 countries.
On January 12, 2021, EPAM announced a free webinar titled "Trust Over Tools" designed for U.S. banks. Set for January 26, 2021, the session will discuss enhancing customer attraction and retention in the digital banking era. Key topics include the role of trust in consumer decisions, the effectiveness of digital channels versus physical branches, and the future of traditional banking apps. Speakers include prominent figures from EPAM and Wells Fargo. The webinar aims to address the rapid digital transformation in banking accelerated by the pandemic.
EPAM Systems (NYSE: EPAM) has been recognized in Built In's 2021 Best Places to Work Awards, securing awards in New York City and San Francisco for being one of the 'Best Places to Work' and also for 'Companies with the Best Benefits.' This accolade underscores EPAM's dedication to employee welfare, including competitive compensation, health benefits, and career development opportunities. Built In's recognition is based on an algorithm evaluating compensation, benefits, and cultural programs, particularly emphasizing diversity, equity, and inclusion initiatives and remote work opportunities.
EPAM Continuum, the consulting practice of EPAM Systems (NYSE: EPAM), has released its 2021 NXT Trends report, identifying six significant global trends influencing businesses. These trends include the evolution of digital communities, the importance of interoperability, and the challenges of loneliness in public health. The report emphasizes the interconnectedness of modern challenges and their implications for strategic leadership in 2021, urging organizations to adapt amidst ongoing market disruptions. For further insights, access the full report on EPAM's website.
EPAM Systems, Inc. (NYSE: EPAM) and VitalAire have won the 2020 Acquia Engage Award for their innovative online patient portal designed to help diabetes patients manage treatments remotely. This project addresses a critical need for digital patient engagement during the pandemic, improving efficiencies and customer satisfaction for VitalAire. The Acquia Platform facilitated timely development, allowing EPAM to focus on creating a tailored solution. The award highlights EPAM's commitment to delivering engaging digital experiences.
On November 23, 2020, EPAM Systems, Inc. (NYSE: EPAM) was recognized as a leader in The Forrester New Wave™: Computer Vision Consultancies, Q4 2020. EPAM was noted for its innovative computer vision (CV) solutions and a proven track record in implementing projects that drive business outcomes. The report highlighted EPAM's expertise across various domains, with customers praising the company's ability to execute complex projects effectively. Forrester identified EPAM as a top choice for cutting-edge CV solutions, emphasizing its diverse team of specialists.
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.
EPAM Systems, Inc. reported a strong third quarter for 2020, achieving revenues of $652.2 million, a 10.9% increase year-over-year. GAAP income from operations rose to $96.4 million, marking a 19.6% increase compared to Q3 2019. Diluted GAAP EPS increased by 31.9% to $1.53. Cash flow from operations for the first nine months reached $385 million, compared to $162.9 million last year. Looking ahead, the company projects Q4 revenues between $695 million and $705 million, reflecting an expected growth rate of 10.6%.
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