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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, Inc. (NYSE: EPAM) announced the appointment of DeAnne Aguirre to its Board of Directors on March 14, 2023. With over 30 years of experience in technology and business consulting, Aguirre brings valuable knowledge to enhance EPAM's advisory services. She previously held leadership roles at PwC and serves on the Board of Hercules Capital (NYSE: HTGC). CEO Arkadiy Dobkin expressed confidence in Aguirre's ability to help navigate growth opportunities in a complex business environment. EPAM continues to expand its offerings in digital transformation, highlighting its commitment to innovation and client success.
EPAM Systems (NYSE: EPAM) announced its participation in MWC 2023, showcasing innovations that leverage 5G technology. The highlights include:
- The launch of 'Vivien,' a digital metahuman aimed at enhancing customer engagements.
- A demonstration of Optiva Media's pioneering 5G virtual reality experience in Spain.
- An all-female executive panel discussing monetization tactics for 5G and emerging technologies.
EPAM emphasizes the necessity for telecommunications firms to evolve their technology stacks to meet changing consumer demands and drive profitability in a competitive market.
EPAM Systems reported Q4 2022 revenues of $1.231 billion, marking an 11.2% year-over-year increase. Full-year revenues reached $4.825 billion, up 28.4%. GAAP diluted EPS rose 8.7% to $2.61 in Q4, while full-year GAAP EPS decreased 13.0% to $7.09. The board approved a $500 million share repurchase program to enhance shareholder value. The company expects 2023 revenues of at least $5.250 billion, indicating a 9% growth rate, despite an anticipated negative impact of 2% due to exiting the Russian market.
EPAM Systems (NYSE: EPAM) announced that 16 of its employees have been named Sitecore Most Valuable Professionals (MVPs), a prestigious recognition in the digital experience management sector. This year, only 241 professionals worldwide were honored from over 16,000 certified developers. The MVPs were recognized for their significant contributions to the Sitecore community, showcasing their expertise in helping clients optimize their digital strategies. This milestone marks EPAM's highest number of Sitecore MVPs, reflecting its commitment to excellence in digital transformation services since becoming a partner in 2007.
EPAM Systems, Inc. (NYSE: EPAM) has announced a conference call scheduled for 8:00 a.m. ET on February 16, 2023, to discuss its fourth quarter 2022 financial results. A news release will precede this call. The conference call can be accessed live on the EPAM website, and a replay will be available afterward in the Investor Relations section. Established in 1993, EPAM is recognized as a leading provider of digital transformation services globally, with numerous accolades, including its inclusion in the S&P 500 and recognition as one of Forbes Global 2000 companies.
EPAM Systems has won the 'Most Impactful Headless Application' award for its collaboration with LiveWire at the Acquia Engage Awards. This recognition highlights EPAM's successful transformation of LiveWire's customer experience and website, enhancing user interactions from research to purchase. EPAM utilized MACH technologies to create a robust digital platform, engaging customers effectively. This marks EPAM's third consecutive win at the awards, set against a competitive field of 120 entries.
EPAM Systems has launched the AosEdge vehicle-to-cloud (V2C) platform, developed in partnership with Renesas Electronics. This platform enhances the software delivery for connected cars, enabling OEMs to implement new services rapidly. AosEdge simplifies installation and management of in-vehicle software, allowing cars to receive cloud-based updates akin to smartphones. This innovation addresses the complex connectivity issues faced by vehicles post-manufacture, ensuring they can access the latest safety features. The platform is designed to support a variety of cloud environments and facilitates a modern microservices architecture.
EPAM Systems, Inc. (NYSE: EPAM) has been recognized as a leader in NelsonHall's 2022 NEAT Evaluation for Overall Salesforce Services, ranking as a top vendor in Marketing Cloud and Revenue Cloud services. This recognition reflects EPAM’s expertise in supporting Salesforce-driven digital transformations. With over 15 years in the industry and a team of 2,400+ global Salesforce experts, EPAM has enhanced its service offerings through acquisitions like PolSource and Ricston. The company maintains high customer satisfaction ratings and continues to innovate by expanding its service capabilities.
EPAM Systems reported third-quarter revenues of $1.227 billion, a 24.1% increase year-over-year. GAAP income from operations was 14.7% of revenues, with GAAP diluted EPS rising 34.9% to $2.63. Non-GAAP diluted EPS increased 28.1% to $3.10. For Q4, EPAM forecasts revenues between $1.220 billion and $1.230 billion, with GAAP diluted EPS projected at $2.02 to $2.10. The exit from the Russian market had an adverse impact on revenue growth, reducing it by 4.7%.
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