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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, 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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