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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 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.
EPAM Systems (NYSE: EPAM) will host an Investor & Analyst Day on May 19, 2022, in Boston, Massachusetts. The event is aimed at financial analysts and institutional investors, requiring advanced registration for attendees. Participants can join the event either virtually or in-person, with registration available through the company's website. A webcast will also be provided, ensuring accessibility for all interested parties. EPAM, recognized for its contributions to digital transformation and product engineering, has been a part of the S&P 500 and Forbes Global 2000.
EPAM Systems has launched the EPAM Ukraine Assistance Fund to provide direct relief to vulnerable individuals in Ukraine. This initiative complements the company’s prior commitment of $100 million for humanitarian efforts. The fund, operated with Renaissance Charitable Foundation, aims to collect and distribute tax-deductible donations for urgent needs, including medical supplies and shelter. EPAM’s close ties to Ukraine, with over 14,000 employees from the region, inform their strategy for effective assistance. Additional details about donating are available on their website.
EPAM Systems, Inc. (NYSE: EPAM) has scheduled a conference call for 8:00 a.m. ET on May 5, 2022, to discuss its first quarter 2022 financial results. A news release with these results will be issued prior to the call. Investors can access the conference call via the Investor Relations section of the company's website or by phone. A replay will be available afterwards until May 12, 2022. EPAM is recognized as a leader in digital transformation services, serving clients across more than 40 countries.
EPAM Systems, Inc. (NYSE: EPAM) expresses full support for Ukraine, condemning the ongoing attacks. The company is discontinuing services in Russia while aiding customers in the transition. A humanitarian commitment of $100 million is announced to support employees in Ukraine. EPAM is implementing business continuity plans and ramping up hiring in Central and Eastern Europe, Latin America, and India. Operating in over 40 countries, EPAM aims for consistent service delivery despite the challenges posed by the geopolitical situation.
EPAM Systems (NYSE: EPAM) announced the withdrawal of its Q1 and full-year 2022 financial outlook due to uncertainties arising from military actions in Ukraine. The company prioritizes employee safety, actively relocating personnel from Ukraine to safer locales. Despite these challenges, EPAM remains operational in over 40 countries, focusing on business continuity and accelerating hiring in Central and Eastern Europe, Latin America, and India. The firm emphasizes its commitment to delivering high-quality services globally and continues to evaluate long-term growth opportunities amid the ongoing crisis.
EPAM Systems, a leader in digital transformation, reported strong financial results for Q4 2021 and the full year, despite global challenges. Q4 revenue reached $1.107 billion, up 53.1% year-over-year, with GAAP EPS of $2.40, a 64.4% increase. For the full year, revenue rose to $3.758 billion, a 41.3% increase, with GAAP EPS of $8.15, a 45.5% rise. Looking ahead, EPAM projects 2022 revenue of at least $5.150 billion, representing a growth rate of 37%, including expected contributions from acquisitions.
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