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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) will host a conference call on November 3, 2022, at 8:00 a.m. ET, to discuss its third quarter 2022 financial results. A news release with the results will be issued prior to the call. The conference call can be accessed live on the EPAM investor website. EPAM is recognized as a leading digital transformation services provider, serving clients globally and ranked among the top IT services companies.
EPAM Systems reported Q2 2022 revenues of $1.195 billion, up 35.6% from the previous year, driven by a 40.1% increase in constant currency. GAAP income from operations decreased to 7.8% of revenues, while Non-GAAP income was 14.9%. GAAP diluted EPS fell to $0.32, an 83.5% drop, attributed to currency effects and operational declines. Non-GAAP diluted EPS increased 16.1% to $2.38. For Q3, EPAM forecasts at least $1.210 billion in revenue and a GAAP diluted EPS of at least $1.65.
EPAM Systems has achieved Elite tier partner status from Snowflake, enhancing its position in the Snowflake Partner Network. This recognition acknowledges EPAM's expertise in delivering data-driven solutions and services, helping clients leverage cloud capabilities for competitive advantage. The company boasts a robust portfolio with over 300 Snowflake-certified professionals and has built more than 20 complex platforms. EPAM's partnership reflects its commitment to aiding businesses in their digital transformation journeys.
EPAM Systems, Inc. (NYSE: EPAM) has scheduled a conference call for August 4, 2022, at 8:00 a.m. ET to discuss its second quarter 2022 financial results. The results will be released prior to the call. Interested parties can access the live call via the company's website. EPAM, a leader in digital transformation services, has been recognized for its innovative strategies and client solutions, serving customers globally since 1993.
EPAM Systems has achieved platinum status in the Adobe Solution Partner Program, positioning itself in the top 15% of solution providers. This recognition comes from delivering exceptional customer satisfaction and executing numerous successful Adobe Experience Cloud deployments, boasting over 300 certified Adobe specialists. The partnership reflects EPAM's commitment to enhancing digital experiences through innovative, omni-channel solutions. EPAM has collaborated with Adobe since 2010, establishing a strong track record of customer success in digital transformation.
EPAM Systems (NYSE: EPAM) will hold an Investor Day on May 19, 2022, in Boston, Massachusetts, for financial analysts and institutional investors. The event will provide insights into the company’s strategies and performance. Interested parties can access the webcast at their investor site. EPAM has been recognized for its digital transformation services and was included in the S&P 500 and Forbes Global 2000.
EPAM Systems reported first quarter revenues of $1.172 billion, reflecting a significant 50.1% increase year-over-year. GAAP income from operations was 11.0% of revenues, while Non-GAAP income was 16.1%. GAAP diluted EPS decreased by 18.3% to $1.52, yet Non-GAAP diluted EPS rose by 37.6% to $2.49. For the upcoming second quarter, EPAM forecasts revenues of at least $1.140 billion and GAAP diluted EPS of at least $0.73. The company emphasizes its resilience amidst global challenges and plans to diversify its global delivery network.
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