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Overview of EPAM Systems, Inc.
EPAM Systems, Inc. (NYSE: EPAM) is a global IT services firm specializing in digital transformation, platform engineering, and software development. Established in 1993, the company has built an impressive reputation for its expertise in digital transformation, software engineering, and advanced consulting services. Leveraging a robust, award-winning global delivery platform, EPAM addresses complex technology challenges for a diverse range of clients worldwide.
Core Business Areas
EPAM delivers a comprehensive suite of services including custom software product development, platform engineering, consulting services, and cloud and AI-enabled transformation solutions. The company’s business model is rooted in its ability to integrate strategy, technology, and engineering execution, ensuring that organizations can accelerate innovation and maintain a competitive edge. Its offerings extend to cutting-edge fields such as artificial intelligence, data analytics, and digital consulting, making it a critical partner for enterprises aiming to navigate modern technological challenges.
Global Delivery and Operational Excellence
With operations in over 20 countries across North America, Europe, Asia, and Australia, EPAM operates through a distributed yet highly integrated delivery model. This enables the firm to provide local engagement with global expertise, ensuring that each client benefits from region-specific insights combined with industry-leading practices. EPAM’s operational approach emphasizes efficiency, quality, and adaptability, making it well-positioned to manage diverse projects ranging from platform engineering to end-to-end digital transformation initiatives.
Innovation and Technical Expertise
The company is renowned for its commitment to innovation, consistently investing in new technologies and engineering methodologies to meet evolving market needs. EPAM harnesses advanced solutions in cloud computing, AI, and emerging technologies to empower its clients. Initiatives such as its GenAI-enabled capabilities and collaborative platforms reflect its ongoing pursuit of integrating next-generation technologies with practical, business-driven applications.
Client-Centric Consulting and Engaged Partnerships
EPAM’s success is driven by a deep commitment to understanding each client’s unique challenges. By offering tailored consulting services, detailed architectural designs, and agile development practices, the company ensures that clients receive customized solutions aligned with their strategic objectives. The firm also strengthens its market position through strategic partnerships and select acquisitions that diversify and enhance its delivery capabilities, reinforcing its role as a trusted advisor in digital transformation journeys.
Market Position and Competitive Landscape
Positioned among the premier global technology firms, EPAM stands out due to its integrated consulting approach and a proven track record in delivering high-quality software product development. Its expansive geographic reach and continuous investment in emerging technologies enable it to compete effectively against established IT giants and niche players alike. The company’s methodological focus on quality, client engagement, and operational excellence helps maintain its resilience in an ever-evolving technology landscape.
Key Differentiators
- Integrated Global Delivery: Combines local expertise with a global reach to optimize project outcomes.
- Technological Agility: Embraces advancements in AI, cloud computing, and data analytics to facilitate innovative solutions.
- Client-Focused Strategies: Prioritizes deep client engagement and customized solutions across diverse industries.
- Strategic Acquisitions: Enhances its service portfolio and market presence through acquisitions that complement its core competencies.
Conclusion
EPAM Systems, Inc. is a highly competent and globally recognized IT services provider that has successfully combined decades of engineering expertise with a forward-thinking approach to digital transformation. Its commitment to excellence and continuous innovation renders it a reliable partner for enterprises aiming to leverage technology for sustained business growth. With a balanced focus on strategy, execution, and technological innovation, EPAM remains a pivotal player in the competitive IT services domain.
EPAM Systems (NYSE: EPAM) reported Q2 2024 results with revenues of $1.147 billion, down 2.0% year-over-year. GAAP income from operations was 10.5% of revenues, while non-GAAP income from operations was 15.2%. GAAP diluted EPS decreased to $1.70, and non-GAAP diluted EPS fell to $2.45. For the full year, EPAM narrowed its revenue forecast to $4.590-$4.625 billion and updated GAAP diluted EPS to $7.18-$7.38 and non-GAAP diluted EPS to $10.20-$10.40. The company announced a new $500 million share repurchase program. EPAM cited a challenging macro-demand environment but highlighted its ability to adapt and optimize operations while strengthening its offerings and client value propositions.
EPAM Systems (NYSE: EPAM) will announce its second quarter 2024 financial results on August 8, 2024. The company will host a conference call at 8:00 a.m. ET on the same day to discuss these results. The financial report will be available prior to the conference call. Interested parties can access the live webcast through the EPAM website, with a replay available post-event for those unable to attend the live session.
EPAM Systems, a digital transformation and product engineering leader, announced the acquisition of Odysseus Data Services. Odysseus specializes in health data analytics, focusing on Real-World Evidence and Real-World Data. This acquisition aims to enhance EPAM's capabilities in the life sciences sector through advanced analytics, AI, and data methods. Gregory Klebanov, CEO of Odysseus, emphasized the synergy between the two companies, highlighting EPAM's expertise in AI and cloud infrastructure. The collaboration is expected to improve life sciences research, clinical studies, and post-market surveillance.
EPAM Systems has been recognized as a top IT sourcing vendor in the UK, achieving high client satisfaction scores in the 2024 UK IT Sourcing Study by Whitelane Research. Over 300 CIOs from the top IT spending organizations in the UK evaluated nearly 900 unique IT sourcing relationships. EPAM scored 80% in digital transformation and 79% in service delivery quality, both surpassing the industry average of 75%. This recognition highlights EPAM's competitive edge in digital transformation, application services, and innovation metrics. The announcement aligns with similar accolades EPAM received across various European markets throughout 2023 and 2024.
EPAM Systems, Inc. reported first-quarter revenues of $1.165 billion, down 3.8% year-over-year. GAAP income from operations was 9.5% of revenues, with non-GAAP income at 14.9%. GAAP diluted EPS was $1.97, an increase of $0.24, while non-GAAP diluted EPS was $2.46, a decrease of $0.01 year-over-year. EPAM updated full-year revenue outlook to be in the range of $4.575 billion to $4.675 billion. For the second quarter, expected revenues are between $1.135 billion to $1.145 billion.
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