{"success":true,"data":{"pressRelease":{"id":"24958","rtpr_id":"nPn7wC2wFa","ticker":"EPAM","exchange":"NYSE","all_tickers":["EPAM"],"title":"EPAM Reports Results for First Quarter 2026","author":"PR Newswire","published_at":"2026-05-07T10:00:01.349Z","article_body":"EPAM Reports Results for First Quarter 2026\n\nPR Newswire\n\nNEWTOWN, Pa., May 7, 2026\n\n * First quarter revenues of $1.400 billion, up 7.6% year-over-year\n * GAAP income from operations was 8.3% of revenues and non-GAAP income from\noperations was 14.3% of revenues for the first quarter\n * First quarter GAAP diluted EPS of $1.52, an increase of $0.24, or 18.8%, and\nnon-GAAP diluted EPS of $2.86, an increase of $0.45, or 18.7%, on a\nyear-over-year basis\n * Continued to return capital to shareholders, spending $324 million on stock\nrepurchases in the first quarter, which includes the $300 million accelerated\nshare repurchase agreement\n * For the full year, EPAM now expects the year-over-year revenue growth rate to\nbe in the range of 4.0% to 6.5% and now expects the year-over-year revenue\ngrowth rate on an organic constant currency basis to be in the range of 2.5%\nto 5.0%.\n * For the full year, EPAM now expects its GAAP diluted EPS to be in the range of\n$8.29 to $8.59, and non-GAAP diluted EPS to now be in the range of $12.98 to\n$13.28\nNEWTOWN, Pa., May 7, 2026 /PRNewswire/ -- EPAM Systems, Inc. (NYSE: EPAM), a\nleading digital and AI transformation company, today announced results for its\nfirst quarter ended March 31, 2026.\n\n(https://mma.prnewswire.com/media/2974403/EOQ_Q1_05_26_FINAL_HiRes.html)\n\n\"We are pleased to report a strong first quarter and solid start of the year\namidst a rapidly evolving macroeconomic landscape. Our Q1 performance reflects\nsteady execution and continued momentum across our AI-native and AI\nfoundational readiness initiatives,\" said Balazs Fejes, CEO & President,\nEPAM. \"We are on a multi-year transformation journey, continuing to position\nourselves to fully benefit and capitalize on AI growth opportunities as well\nas accelerate our own AI client zero transformation.\"\n\nFirst Quarter 2026 Highlights\n\n * Revenues increased to $1.400 billion, a year-over-year increase of $98.4\nmillion, or 7.6%. On an organic constant currency basis, revenues were up 3.7%\ncompared to the first quarter of 2025;\n * GAAP income from operations was $116.8 million, an increase of $17.4 million,\nor 17.6%, compared to $99.3 million in the first quarter of 2025;\n * Non-GAAP income from operations was $200.7 million, an increase of $25.0\nmillion, or 14.2%, compared to $175.8 million in the first quarter of 2025;\n * Diluted earnings per share (\"EPS\") on a GAAP basis was $1.52, an increase of\n$0.24, or 18.8%, compared to $1.28 in the first quarter of 2025; and\n * Non-GAAP diluted EPS was $2.86, an increase of $0.45, or 18.7%, compared to\n$2.41 in the first quarter of 2025.\nCash Flow and Other Metrics\n\n * Cash used in operating activities was $36.4 million for the first three months\nof 2026, compared to cash provided by operating activities of $24.2 million\nfor the first three months of 2025;\n * Cash, cash equivalents and restricted cash totaled $1.043 billion as of\nMarch 31, 2026, a decrease of $258.8 million, or 19.9%, from $1.301 billion\nas of December 31, 2025;\n * The Company spent $324 million on share repurchases during the first quarter\nof 2026 under its share repurchase program, which included $300 million for\nthe previously announced accelerated share repurchase (\"ASR\"). The Company\nreceived 1.8 million shares during the first quarter with another 0.5 million\nshares received in April upon settlement of the ASR;\n * Total headcount was approximately 62,750 as of March 31, 2026. Included in\nthis number were approximately 56,500 delivery professionals, a decrease of\n0.2% from December 31, 2025.\n2026 Outlook - Full Year and Second Quarter\n\nFull Year\n\nEPAM expects the following for the full year:\n\n * The Company now expects the year-over-year revenue growth rate to be in the\nrange of 4.0% to 6.5% for 2026 and now expects the year-over-year revenue\ngrowth rate on an organic constant currency basis to be in the range of 2.5%\nto 5.0%;\n * For the full year, EPAM continues to expect GAAP income from operations to be\nin the range of 10% to 11% of revenues and non-GAAP income from operations to\nbe in the range of 15% to 16% of revenues;\n * The Company now expects its GAAP effective tax rate to be approximately 27%\nand continues to expect its non-GAAP effective tax rate to be approximately\n24%; and\n * EPAM now expects GAAP diluted EPS to be in the range of $8.29 to $8.59 and\nnon-GAAP diluted EPS to be in the range of $12.98 to $13.28. The Company now\nexpects weighted average diluted shares outstanding for the year to be 52.7\nmillion.\nSecond Quarter\n\nEPAM expects the following for the second quarter:\n\n * The Company expects revenues will be in the range of $1.400 billion to $1.415\nbillion for the second quarter, reflecting year-over-year growth of 4.0% at\nthe midpoint of the range. The Company expects the year-over-year revenue\ngrowth rate on an organic constant currency basis to be 2.7% at the midpoint\nof the range;\n * For the second quarter, EPAM expects GAAP income from operations to be in the\nrange of 9% to 10% of revenues and non-GAAP income from operations to be in\nthe range of 15% to 16% of revenues;\n * The Company expects its GAAP effective tax rate to be approximately 27% and\nits non-GAAP effective tax rate to be approximately 24%; and\n * EPAM expects GAAP diluted EPS will be in the range of $1.79 to $1.87 for the\nquarter, and non-GAAP diluted EPS will be in the range of $3.10 to $3.18 for\nthe quarter. The Company expects weighted average diluted shares outstanding\nfor the quarter to be 52.4 million.\nConference Call Information\n\nEPAM will host a conference call to discuss the results on Thursday, May 7,\n2026, at 8:00 a.m. ET. The conference call will be available live on the EPAM\nwebsite at https://investors.epam.com (https://investors.epam.com/) . Please\nvisit the website at least 15 minutes prior to the call to register for the\nevent. For those who cannot access the live webcast, a replay will be\navailable in the Investor Relations section of the website.\n\nAbout EPAM Systems\n\nEPAM (NYSE:EPAM) is a global leader in AI transformation engineering and\nintegrated consulting, serving Forbes Global 2000 companies and ambitious\nstartups. With over thirty years of expertise in custom software, product and\nplatform engineering, EPAM empowers organizations to become AI-Native\nenterprises, driving measurable value from innovation and digital investments.\nRecognized by industry benchmarks and leading analysts as a leader in AI, EPAM\ndelivers globally while engaging locally, making the future real for clients,\npartners, and employees.\n\nWe are proud to be recognized by Forbes, Glassdoor, Newsweek, Time Magazine,\nGreat Place to Work and kununu as a Most Loved Workplace around the world.\n\nLearn more at www.epam.com (https://www.epam.com/) and follow us on LinkedIn\n(https://www.linkedin.com/company/epam-systems/) .\n\nNon-GAAP Financial Measures\n\nEPAM supplements results reported in accordance with United States generally\naccepted accounting principles, referred to as GAAP, with non-GAAP financial\nmeasures. Management believes these measures help illustrate underlying trends\nin EPAM's business and uses the measures to establish budgets and operational\ngoals, communicate internally and externally, for managing EPAM's business and\nevaluating its performance. Management also believes these measures help\ninvestors compare EPAM's operating performance with its results in prior\nperiods. EPAM anticipates that it will continue to report both GAAP and\ncertain non-GAAP financial measures in its financial results, including\nnon-GAAP results that exclude stock-based compensation expenses,\nacquisition-related costs including amortization of acquired intangible\nassets, impairment of assets, expenses associated with EPAM's humanitarian\ncommitment to its professionals in Ukraine, employee separation costs incurred\nin connection with restructuring programs, certain other one-time charges and\nbenefits, changes in fair value of contingent consideration, foreign exchange\ngains and losses, excess tax benefits and tax shortfalls related to\nstock-based compensation, and the related effect on income taxes of the\npre-tax adjustments. Management also compares revenues on an \"organic constant\ncurrency basis,\" which is a non-GAAP financial measure. This measure excludes\nthe effect of acquisitions by removing revenues from an acquired company in\nthe twelve months after completing an acquisition and foreign currency\nexchange rate fluctuations by translating current period revenues into U.S.\ndollars at the weighted average exchange rates of the prior period of\ncomparison. Because EPAM's reported non-GAAP financial measures are not\ncalculated in accordance with GAAP, these measures are not comparable to GAAP\nand may not be comparable to similarly described non-GAAP measures reported by\nother companies within EPAM's industry. Consequently, EPAM's non-GAAP\nfinancial measures should not be evaluated in isolation or supplant comparable\nGAAP measures, but rather, should be considered together with the information\nin EPAM's consolidated financial statements, which are prepared in accordance\nwith GAAP.\n\nForward-Looking Statements\n\nThis press release includes estimates and statements which may constitute\nforward-looking statements made pursuant to the safe harbor provisions of the\nPrivate Securities Litigation Reform Act of 1995, the accuracy of which are\nnecessarily subject to risks, uncertainties, and assumptions as to future\nevents that may not prove to be accurate. Our estimates and forward-looking\nstatements are mainly based on our current expectations and estimates of\nfuture events and trends, which affect or may affect our business and\noperations. These statements may include words such as \"may,\" \"will,\"\n\"should,\" \"believe,\" \"expect,\" \"anticipate,\" \"intend,\" \"plan,\" \"estimate\"or\nsimilar expressions. Those future events and trends may relate to, among other\nthings, developments relating to the war in Ukraine and escalation of the war\nin the surrounding region, political and civil unrest or military action in\nthe geographies where we conduct business and operate, difficult conditions in\nglobal capital markets, foreign exchange markets, global trade and the broader\neconomy, the adoption and implementation of artificial intelligence\ntechnologies by EPAM and its clients, and the effect that these events may\nhave on client demand and our revenues, operations, access to capital, and\nprofitability. Other factors that could cause actual results to differ\nmaterially from those expressed or implied include general economic\nconditions, the risk factors discussed in the Company's most recent Annual\nReport on Form 10-K and the factors discussed in the Company's Quarterly\nReports on Form 10-Q, particularly under the headings \"Management's Discussion\nand Analysis of Financial Condition and Results of Operations\" and \"Risk\nFactors\"and other filings with the Securities and Exchange Commission.\nAlthough we believe that these estimates and forward-looking statements are\nbased upon reasonable assumptions, they are subject to several risks and\nuncertainties and are made based on information currently available to us.\nEPAM undertakes no obligation to update or revise any forward-looking\nstatements, whether as a result of new information, future events, or\notherwise, except as may be required under applicable securities law.\n\n \n EPAM SYSTEMS, INC. AND SUBSIDIARIES\n\nCONDENSED CONSOLIDATED STATEMENTS OF INCOME\n\n(Unaudited)\n\n(In thousands, except per share data)\n Three Months Ended\n\nMarch 31,\n 2026 2025\n Revenues $ 1,400,061 $ 1,301,692\n Operating expenses:\n Cost of revenues (exclusive of depreciation and amortization) 1,012,052 952,008\n Selling, general and administrative expenses 239,702 218,917\n Depreciation and amortization expense 31,539 31,437\n Income from operations 116,768 99,330\n Interest and other income, net 1,582 5,814\n Foreign exchange gain (loss) 2,298 (10,727)\n Income before provision for income taxes 120,648 94,417\n Provision for income taxes 38,127 20,935\n Net income $ 82,521 $ 73,482\n\n Net income per share:\n Basic $ 1.53 $ 1.29\n Diluted $ 1.52 $ 1.28\n Shares used in calculation of net income per share:\n Basic 53,793 56,780\n Diluted 54,183 57,262\n\n \n EPAM SYSTEMS, INC. AND SUBSIDIARIES\n\nCONDENSED CONSOLIDATED BALANCE SHEETS\n\n(Unaudited)\n\n(In thousands, except par value)\n As of As of\n\nMarch 31,\nDecember 31,\n\n2026\n2025\n Assets\n Current assets\n Cash and cash equivalents $ 1,036,959 $ 1,296,077\n Trade receivables and contract assets, net of allowance of $5,060 and $6,350, 1,174,660 1,108,201\n respectively\n Prepaid and other current assets 145,806 129,610\n Total current assets 2,357,425 2,533,888\n Property and equipment, net 202,826 202,387\n Operating lease right-of-use assets, net 118,431 114,875\n Intangible assets, net 385,728 406,586\n Goodwill 1,204,577 1,210,564\n Deferred tax assets 283,027 295,115\n Other noncurrent assets 151,437 138,721\n Total assets $ 4,703,451 $ 4,902,136\n\n Liabilities\n Current liabilities\n Accounts payable $ 40,113 $ 55,329\n Accrued compensation and benefits expenses 567,656 608,232\n Accrued expenses and other current liabilities 224,171 250,688\n Income taxes payable, current 15,639 25,520\n Operating lease liabilities, current 36,750 37,173\n Total current liabilities 884,329 976,942\n Long-term debt 165,000 25,034\n Operating lease liabilities, noncurrent 86,193 81,497\n Deferred tax liabilities, noncurrent 73,795 76,969\n Other noncurrent liabilities 62,422 63,886\n Total liabilities 1,271,739 1,224,328\n Commitments and contingencies\n Equity\n Stockholders' equity\n Common stock, $0.001 par value; 160,000 shares authorized; 52,757 shares 53 54\n issued\n and outstanding at March 31, 2026, and 54,274 shares issued and outstanding at\n December 31, 2025\n Additional paid-in capital 1,360,302 1,390,423\n Retained earnings 2,084,540 2,268,204\n Accumulated other comprehensive income (loss) (13,765) 18,545\n Total EPAM Systems, Inc. stockholders' equity 3,431,130 3,677,226\n Noncontrolling interest in consolidated subsidiaries 582 582\n Total equity 3,431,712 3,677,808\n Total liabilities and equity $ 4,703,451 $ 4,902,136\n\nEPAM SYSTEMS, INC. AND SUBSIDIARIES\nReconciliations of Non-GAAP Financial Measures to Comparable GAAP Financial\nMeasures\n(Unaudited)\n(In thousands, except percentages and per share amounts)\n\nReconciliation of year-over-year revenue growth as reported on a GAAP basis to\nrevenue growth on an organic constant currency basis is presented in the table\nbelow:\n Three Months Ended\n\nMarch 31, 2026\n Revenue growth as reported 7.6 %\n Inorganic revenue 0.0 %\n Foreign exchange rates (3.9) %\n Revenue growth on an organic constant currency basis 3.7 %\n\n Reconciliation of various income statement amounts from GAAP to non-GAAP for\n the three months ended March 31, 2026 and 2025:\n\n Three Months Ended\n\nMarch 31, 2026\n GAAP Adjustments Non-GAAP\n Cost of revenues (exclusive of depreciation and amortization)((1)) $ 1,012,052 $ (23,410) $ 988,642\n Selling, general and administrative expenses((2)) $ 239,702 $ (42,840) $ 196,862\n Income from operations((3)) $ 116,768 $ 83,968 $ 200,736\n Operating margin 8.3 % 6.0 % 14.3 %\n Net income((4)) $ 82,521 $ 72,704 $ 155,225\n Diluted earnings per share $ 1.52 $ 2.86\n\n Three Months Ended\n\nMarch 31, 2025\n GAAP Adjustments Non-GAAP\n Cost of revenues (exclusive of depreciation and amortization)((1)) $ 952,008 $ (24,541) $ 927,467\n Selling, general and administrative expenses((2)) $ 218,917 $ (34,223) $ 184,694\n Income from operations((3)) $ 99,330 $ 76,420 $ 175,750\n Operating margin 7.6 % 5.9 % 13.5 %\n Net income((4)) $ 73,482 $ 64,533 $ 138,015\n Diluted earnings per share $ 1.28 $ 2.41\n\n Items (1) through (4) above are detailed in the table below with the specific\n cross-reference noted in the appropriate item.\n\n Three Months Ended\n\nMarch 31,\n 2026 2025\n Stock-based compensation expenses $ 22,853 $ 23,923\n Humanitarian support in Ukraine((a)) 557 618\n Total adjustments to GAAP cost of revenues((1)) 23,410 24,541\n Stock-based compensation expenses 27,066 24,533\n Cost Optimization charges((b)) 13,396 5,311\n Other acquisition-related expenses 6 570\n Humanitarian support in Ukraine((a)) 2,409 3,732\n One-time charges (benefits) (37) 77\n Total adjustments to GAAP selling, general and administrative expenses((2)) 42,840 34,223\n Amortization of acquired intangible assets 17,718 17,656\n Total adjustments to GAAP income from operations((3)) 83,968 76,420\n Foreign exchange loss (gain) (2,298) 10,727\n Gain on financial instrument — (350)\n Change in fair value of contingent consideration included in Interest and 985 (1,737)\n other income, net\n Provision for income taxes:\n Tax effect on non-GAAP adjustments (19,131) (19,910)\n Tax shortfall (excess tax benefit) related to stock-based compensation 9,849 (543)\n Net discrete benefit from tax planning((c)) (669) (74)\n Total adjustments to GAAP net income((4)) $ 72,704 $ 64,533\n\n (a) Humanitarian support in Ukraine includes expenses related to EPAM's $100\n million humanitarian commitment in response to Russia's invasion of Ukraine to\n support EPAM professionals and their families in and displaced from Ukraine.\n These expenses are incremental to those expenses incurred prior to the crisis,\n clearly separable from normal operations, and not expected to recur once the\n crisis has subsided and operations return to normal.\n\n (b) Cost Optimization charges include employee separation costs incurred in\n connection with the programs initiated in the second quarter of 2024 and\n second quarter of 2025. Consistent with the Company's historical non-GAAP\n policy, costs incurred in connection with formal restructuring initiatives\n have been excluded from non-GAAP results as these are attributable to targeted\n restructuring efforts and not expected to recur once the respective Cost\n Optimization program is completed.\n\n (c) Net discrete benefit related to the implementation of tax planning to\n disregard certain foreign subsidiaries as separate entities for U.S. income\n tax purposes. Consistent with the Company's historical non-GAAP policy, the\n benefit related to the implementation of tax planning has been excluded from\n non-GAAP results as it is one-time and unusual in nature.\n\nEPAM SYSTEMS, INC. AND SUBSIDIARIES\n\nReconciliations of Guidance Non-GAAP Financial Measures to Comparable GAAP\nFinancial Measures\n(Unaudited)\n\nThe below guidance constitutes forward-looking statements within the meaning\nof the federal securities laws and is based on a number of assumptions that\nare subject to change and many of which are outside the control of the\nCompany. Actual results may differ materially from the Company's expectations\ndepending on factors discussed in the Company's filings with the Securities\nand Exchange Commission.\n\nReconciliation of expected year-over-year revenue growth on a GAAP basis to\nexpected revenue growth on an organic constant currency basis is presented in\nthe table below:\n Second Quarter 2026 Full Year 2026\n (at midpoint of range)\n Revenue growth 4.0 % 4.0% to 6.5%\n Foreign exchange rates impact (1.3) % (1.5) %\n Inorganic revenue growth — % — %\n Revenue growth on an organic constant currency basis 2.7 % 2.5% to 5.0%\n\n Reconciliation of expected GAAP to non-GAAP income from operations as a\n percentage of revenues is presented in the table below:\n\n Second Quarter 2026 Full Year 2026\n GAAP income from operations as a percentage of revenues 9.0% to 10.0% 10.0% to 11.0%\n Stock-based compensation expenses 3.6 % 3.2 %\n Included in cost of revenues (exclusive of depreciation and amortization) 1.6 % 1.4 %\n Included in selling, general and administrative expenses 2.0 % 1.8 %\n Humanitarian support in Ukraine((a)) 0.2 % 0.2 %\n Cost Optimization charges((b)) 1.0 % 0.4 %\n Amortization of acquired intangible assets 1.2 % 1.2 %\n Non-GAAP income from operations as a percentage of revenues((d)) 15.0% to 16.0% 15.0% to 16.0%\n\n (d) EPAM has not included the impact of potential future one-time charges\n including asset impairments, unusual gains and losses, expenses incurred in\n connection with future cost optimization actions, and other\n acquisition-related expenses because the Company is unable to predict these\n amounts with reasonable certainty.\n\n Reconciliation of expected GAAP to non-GAAP effective tax rate is presented in\n the table below:\n\n Second Quarter 2026 Full Year 2026\n GAAP effective tax rate (approximately) 27.0 % 27.0 %\n Tax effect on non-GAAP adjustments (1.9) % (1.0) %\n Tax shortfall related to stock-based compensation (1.1) % (2.1) %\n Net discrete benefit from tax planning((c)) — % 0.1 %\n Non-GAAP effective tax rate (approximately) 24.0 % 24.0 %\n\n Reconciliation of expected GAAP to non-GAAP diluted earnings per share is\n presented in the table below:\n\n Second Quarter 2026 Full Year 2026\n GAAP diluted earnings per share $1.79 to $1.87 $8.29 to $8.59\n Stock-based compensation expenses 0.95 3.55\n Included in cost of revenues (exclusive of depreciation and amortization) 0.43 1.62\n Included in selling, general and administrative expenses 0.52 1.93\n Humanitarian support in Ukraine((a)) 0.05 0.21\n Cost Optimization charges((b)) 0.25 0.51\n Amortization of acquired intangible assets 0.33 1.31\n Change in fair value of contingent consideration — 0.02\n Foreign exchange loss 0.06 0.13\n Provision for income taxes:\n Tax effect on non-GAAP adjustments (0.36) (1.27)\n Tax shortfall related to stock-based compensation 0.03 0.24\n Net discrete benefit from tax planning((c)) — (0.01)\n Non-GAAP diluted earnings per share((d)) $3.10 to $3.18 $12.98 to $13.28\n\n \n\n(https://mma.prnewswire.com/media/2223594/EPAM_Logo.html)\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/epam-reports-results-for-first-quarter-2026-302764876.html\n(https://www.prnewswire.com/news-releases/epam-reports-results-for-first-quarter-2026-302764876.html)\n\nSOURCE EPAM Systems, Inc.\n\n\n\nEPAM Systems, Inc., Mike Rowshandel, Head of Investor Relations, Phone: +1-267-759-9000 x393336, Email: mike_rowshandel@epam.com\n\nPhoto: \nhttps://mma.prnewswire.com/media/2974403/EOQ_Q1_05_26_FINAL_HiRes.jpg\nhttps://mma.prnewswire.com/media/2223594/EPAM_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn7wC2wFa","title":"EPAM Reports Results for First Quarter 2026","author":"PR Newswire","ticker":"EPAM","created":"2026-05-07T10:00:01.349Z","tickers":["EPAM"],"exchange":"NYSE","article_body":"EPAM Reports Results for First Quarter 2026\n\nPR Newswire\n\nNEWTOWN, Pa., May 7, 2026\n\n * First quarter revenues of $1.400 billion, up 7.6% year-over-year\n * GAAP income from operations was 8.3% of revenues and non-GAAP income from\noperations was 14.3% of revenues for the first quarter\n * First quarter GAAP diluted EPS of $1.52, an increase of $0.24, or 18.8%, and\nnon-GAAP diluted EPS of $2.86, an increase of $0.45, or 18.7%, on a\nyear-over-year basis\n * Continued to return capital to shareholders, spending $324 million on stock\nrepurchases in the first quarter, which includes the $300 million accelerated\nshare repurchase agreement\n * For the full year, EPAM now expects the year-over-year revenue growth rate to\nbe in the range of 4.0% to 6.5% and now expects the year-over-year revenue\ngrowth rate on an organic constant currency basis to be in the range of 2.5%\nto 5.0%.\n * For the full year, EPAM now expects its GAAP diluted EPS to be in the range of\n$8.29 to $8.59, and non-GAAP diluted EPS to now be in the range of $12.98 to\n$13.28\nNEWTOWN, Pa., May 7, 2026 /PRNewswire/ -- EPAM Systems, Inc. (NYSE: EPAM), a\nleading digital and AI transformation company, today announced results for its\nfirst quarter ended March 31, 2026.\n\n(https://mma.prnewswire.com/media/2974403/EOQ_Q1_05_26_FINAL_HiRes.html)\n\n\"We are pleased to report a strong first quarter and solid start of the year\namidst a rapidly evolving macroeconomic landscape. Our Q1 performance reflects\nsteady execution and continued momentum across our AI-native and AI\nfoundational readiness initiatives,\" said Balazs Fejes, CEO & President,\nEPAM. \"We are on a multi-year transformation journey, continuing to position\nourselves to fully benefit and capitalize on AI growth opportunities as well\nas accelerate our own AI client zero transformation.\"\n\nFirst Quarter 2026 Highlights\n\n * Revenues increased to $1.400 billion, a year-over-year increase of $98.4\nmillion, or 7.6%. On an organic constant currency basis, revenues were up 3.7%\ncompared to the first quarter of 2025;\n * GAAP income from operations was $116.8 million, an increase of $17.4 million,\nor 17.6%, compared to $99.3 million in the first quarter of 2025;\n * Non-GAAP income from operations was $200.7 million, an increase of $25.0\nmillion, or 14.2%, compared to $175.8 million in the first quarter of 2025;\n * Diluted earnings per share (\"EPS\") on a GAAP basis was $1.52, an increase of\n$0.24, or 18.8%, compared to $1.28 in the first quarter of 2025; and\n * Non-GAAP diluted EPS was $2.86, an increase of $0.45, or 18.7%, compared to\n$2.41 in the first quarter of 2025.\nCash Flow and Other Metrics\n\n * Cash used in operating activities was $36.4 million for the first three months\nof 2026, compared to cash provided by operating activities of $24.2 million\nfor the first three months of 2025;\n * Cash, cash equivalents and restricted cash totaled $1.043 billion as of\nMarch 31, 2026, a decrease of $258.8 million, or 19.9%, from $1.301 billion\nas of December 31, 2025;\n * The Company spent $324 million on share repurchases during the first quarter\nof 2026 under its share repurchase program, which included $300 million for\nthe previously announced accelerated share repurchase (\"ASR\"). The Company\nreceived 1.8 million shares during the first quarter with another 0.5 million\nshares received in April upon settlement of the ASR;\n * Total headcount was approximately 62,750 as of March 31, 2026. Included in\nthis number were approximately 56,500 delivery professionals, a decrease of\n0.2% from December 31, 2025.\n2026 Outlook - Full Year and Second Quarter\n\nFull Year\n\nEPAM expects the following for the full year:\n\n * The Company now expects the year-over-year revenue growth rate to be in the\nrange of 4.0% to 6.5% for 2026 and now expects the year-over-year revenue\ngrowth rate on an organic constant currency basis to be in the range of 2.5%\nto 5.0%;\n * For the full year, EPAM continues to expect GAAP income from operations to be\nin the range of 10% to 11% of revenues and non-GAAP income from operations to\nbe in the range of 15% to 16% of revenues;\n * The Company now expects its GAAP effective tax rate to be approximately 27%\nand continues to expect its non-GAAP effective tax rate to be approximately\n24%; and\n * EPAM now expects GAAP diluted EPS to be in the range of $8.29 to $8.59 and\nnon-GAAP diluted EPS to be in the range of $12.98 to $13.28. The Company now\nexpects weighted average diluted shares outstanding for the year to be 52.7\nmillion.\nSecond Quarter\n\nEPAM expects the following for the second quarter:\n\n * The Company expects revenues will be in the range of $1.400 billion to $1.415\nbillion for the second quarter, reflecting year-over-year growth of 4.0% at\nthe midpoint of the range. The Company expects the year-over-year revenue\ngrowth rate on an organic constant currency basis to be 2.7% at the midpoint\nof the range;\n * For the second quarter, EPAM expects GAAP income from operations to be in the\nrange of 9% to 10% of revenues and non-GAAP income from operations to be in\nthe range of 15% to 16% of revenues;\n * The Company expects its GAAP effective tax rate to be approximately 27% and\nits non-GAAP effective tax rate to be approximately 24%; and\n * EPAM expects GAAP diluted EPS will be in the range of $1.79 to $1.87 for the\nquarter, and non-GAAP diluted EPS will be in the range of $3.10 to $3.18 for\nthe quarter. The Company expects weighted average diluted shares outstanding\nfor the quarter to be 52.4 million.\nConference Call Information\n\nEPAM will host a conference call to discuss the results on Thursday, May 7,\n2026, at 8:00 a.m. ET. The conference call will be available live on the EPAM\nwebsite at https://investors.epam.com (https://investors.epam.com/) . Please\nvisit the website at least 15 minutes prior to the call to register for the\nevent. For those who cannot access the live webcast, a replay will be\navailable in the Investor Relations section of the website.\n\nAbout EPAM Systems\n\nEPAM (NYSE:EPAM) is a global leader in AI transformation engineering and\nintegrated consulting, serving Forbes Global 2000 companies and ambitious\nstartups. With over thirty years of expertise in custom software, product and\nplatform engineering, EPAM empowers organizations to become AI-Native\nenterprises, driving measurable value from innovation and digital investments.\nRecognized by industry benchmarks and leading analysts as a leader in AI, EPAM\ndelivers globally while engaging locally, making the future real for clients,\npartners, and employees.\n\nWe are proud to be recognized by Forbes, Glassdoor, Newsweek, Time Magazine,\nGreat Place to Work and kununu as a Most Loved Workplace around the world.\n\nLearn more at www.epam.com (https://www.epam.com/) and follow us on LinkedIn\n(https://www.linkedin.com/company/epam-systems/) .\n\nNon-GAAP Financial Measures\n\nEPAM supplements results reported in accordance with United States generally\naccepted accounting principles, referred to as GAAP, with non-GAAP financial\nmeasures. Management believes these measures help illustrate underlying trends\nin EPAM's business and uses the measures to establish budgets and operational\ngoals, communicate internally and externally, for managing EPAM's business and\nevaluating its performance. Management also believes these measures help\ninvestors compare EPAM's operating performance with its results in prior\nperiods. EPAM anticipates that it will continue to report both GAAP and\ncertain non-GAAP financial measures in its financial results, including\nnon-GAAP results that exclude stock-based compensation expenses,\nacquisition-related costs including amortization of acquired intangible\nassets, impairment of assets, expenses associated with EPAM's humanitarian\ncommitment to its professionals in Ukraine, employee separation costs incurred\nin connection with restructuring programs, certain other one-time charges and\nbenefits, changes in fair value of contingent consideration, foreign exchange\ngains and losses, excess tax benefits and tax shortfalls related to\nstock-based compensation, and the related effect on income taxes of the\npre-tax adjustments. Management also compares revenues on an \"organic constant\ncurrency basis,\" which is a non-GAAP financial measure. This measure excludes\nthe effect of acquisitions by removing revenues from an acquired company in\nthe twelve months after completing an acquisition and foreign currency\nexchange rate fluctuations by translating current period revenues into U.S.\ndollars at the weighted average exchange rates of the prior period of\ncomparison. Because EPAM's reported non-GAAP financial measures are not\ncalculated in accordance with GAAP, these measures are not comparable to GAAP\nand may not be comparable to similarly described non-GAAP measures reported by\nother companies within EPAM's industry. Consequently, EPAM's non-GAAP\nfinancial measures should not be evaluated in isolation or supplant comparable\nGAAP measures, but rather, should be considered together with the information\nin EPAM's consolidated financial statements, which are prepared in accordance\nwith GAAP.\n\nForward-Looking Statements\n\nThis press release includes estimates and statements which may constitute\nforward-looking statements made pursuant to the safe harbor provisions of the\nPrivate Securities Litigation Reform Act of 1995, the accuracy of which are\nnecessarily subject to risks, uncertainties, and assumptions as to future\nevents that may not prove to be accurate. Our estimates and forward-looking\nstatements are mainly based on our current expectations and estimates of\nfuture events and trends, which affect or may affect our business and\noperations. These statements may include words such as \"may,\" \"will,\"\n\"should,\" \"believe,\" \"expect,\" \"anticipate,\" \"intend,\" \"plan,\" \"estimate\"or\nsimilar expressions. Those future events and trends may relate to, among other\nthings, developments relating to the war in Ukraine and escalation of the war\nin the surrounding region, political and civil unrest or military action in\nthe geographies where we conduct business and operate, difficult conditions in\nglobal capital markets, foreign exchange markets, global trade and the broader\neconomy, the adoption and implementation of artificial intelligence\ntechnologies by EPAM and its clients, and the effect that these events may\nhave on client demand and our revenues, operations, access to capital, and\nprofitability. Other factors that could cause actual results to differ\nmaterially from those expressed or implied include general economic\nconditions, the risk factors discussed in the Company's most recent Annual\nReport on Form 10-K and the factors discussed in the Company's Quarterly\nReports on Form 10-Q, particularly under the headings \"Management's Discussion\nand Analysis of Financial Condition and Results of Operations\" and \"Risk\nFactors\"and other filings with the Securities and Exchange Commission.\nAlthough we believe that these estimates and forward-looking statements are\nbased upon reasonable assumptions, they are subject to several risks and\nuncertainties and are made based on information currently available to us.\nEPAM undertakes no obligation to update or revise any forward-looking\nstatements, whether as a result of new information, future events, or\notherwise, except as may be required under applicable securities law.\n\n \n EPAM SYSTEMS, INC. AND SUBSIDIARIES\n\nCONDENSED CONSOLIDATED STATEMENTS OF INCOME\n\n(Unaudited)\n\n(In thousands, except per share data)\n Three Months Ended\n\nMarch 31,\n 2026 2025\n Revenues $ 1,400,061 $ 1,301,692\n Operating expenses:\n Cost of revenues (exclusive of depreciation and amortization) 1,012,052 952,008\n Selling, general and administrative expenses 239,702 218,917\n Depreciation and amortization expense 31,539 31,437\n Income from operations 116,768 99,330\n Interest and other income, net 1,582 5,814\n Foreign exchange gain (loss) 2,298 (10,727)\n Income before provision for income taxes 120,648 94,417\n Provision for income taxes 38,127 20,935\n Net income $ 82,521 $ 73,482\n\n Net income per share:\n Basic $ 1.53 $ 1.29\n Diluted $ 1.52 $ 1.28\n Shares used in calculation of net income per share:\n Basic 53,793 56,780\n Diluted 54,183 57,262\n\n \n EPAM SYSTEMS, INC. AND SUBSIDIARIES\n\nCONDENSED CONSOLIDATED BALANCE SHEETS\n\n(Unaudited)\n\n(In thousands, except par value)\n As of As of\n\nMarch 31,\nDecember 31,\n\n2026\n2025\n Assets\n Current assets\n Cash and cash equivalents $ 1,036,959 $ 1,296,077\n Trade receivables and contract assets, net of allowance of $5,060 and $6,350, 1,174,660 1,108,201\n respectively\n Prepaid and other current assets 145,806 129,610\n Total current assets 2,357,425 2,533,888\n Property and equipment, net 202,826 202,387\n Operating lease right-of-use assets, net 118,431 114,875\n Intangible assets, net 385,728 406,586\n Goodwill 1,204,577 1,210,564\n Deferred tax assets 283,027 295,115\n Other noncurrent assets 151,437 138,721\n Total assets $ 4,703,451 $ 4,902,136\n\n Liabilities\n Current liabilities\n Accounts payable $ 40,113 $ 55,329\n Accrued compensation and benefits expenses 567,656 608,232\n Accrued expenses and other current liabilities 224,171 250,688\n Income taxes payable, current 15,639 25,520\n Operating lease liabilities, current 36,750 37,173\n Total current liabilities 884,329 976,942\n Long-term debt 165,000 25,034\n Operating lease liabilities, noncurrent 86,193 81,497\n Deferred tax liabilities, noncurrent 73,795 76,969\n Other noncurrent liabilities 62,422 63,886\n Total liabilities 1,271,739 1,224,328\n Commitments and contingencies\n Equity\n Stockholders' equity\n Common stock, $0.001 par value; 160,000 shares authorized; 52,757 shares 53 54\n issued\n and outstanding at March 31, 2026, and 54,274 shares issued and outstanding at\n December 31, 2025\n Additional paid-in capital 1,360,302 1,390,423\n Retained earnings 2,084,540 2,268,204\n Accumulated other comprehensive income (loss) (13,765) 18,545\n Total EPAM Systems, Inc. stockholders' equity 3,431,130 3,677,226\n Noncontrolling interest in consolidated subsidiaries 582 582\n Total equity 3,431,712 3,677,808\n Total liabilities and equity $ 4,703,451 $ 4,902,136\n\nEPAM SYSTEMS, INC. AND SUBSIDIARIES\nReconciliations of Non-GAAP Financial Measures to Comparable GAAP Financial\nMeasures\n(Unaudited)\n(In thousands, except percentages and per share amounts)\n\nReconciliation of year-over-year revenue growth as reported on a GAAP basis to\nrevenue growth on an organic constant currency basis is presented in the table\nbelow:\n Three Months Ended\n\nMarch 31, 2026\n Revenue growth as reported 7.6 %\n Inorganic revenue 0.0 %\n Foreign exchange rates (3.9) %\n Revenue growth on an organic constant currency basis 3.7 %\n\n Reconciliation of various income statement amounts from GAAP to non-GAAP for\n the three months ended March 31, 2026 and 2025:\n\n Three Months Ended\n\nMarch 31, 2026\n GAAP Adjustments Non-GAAP\n Cost of revenues (exclusive of depreciation and amortization)((1)) $ 1,012,052 $ (23,410) $ 988,642\n Selling, general and administrative expenses((2)) $ 239,702 $ (42,840) $ 196,862\n Income from operations((3)) $ 116,768 $ 83,968 $ 200,736\n Operating margin 8.3 % 6.0 % 14.3 %\n Net income((4)) $ 82,521 $ 72,704 $ 155,225\n Diluted earnings per share $ 1.52 $ 2.86\n\n Three Months Ended\n\nMarch 31, 2025\n GAAP Adjustments Non-GAAP\n Cost of revenues (exclusive of depreciation and amortization)((1)) $ 952,008 $ (24,541) $ 927,467\n Selling, general and administrative expenses((2)) $ 218,917 $ (34,223) $ 184,694\n Income from operations((3)) $ 99,330 $ 76,420 $ 175,750\n Operating margin 7.6 % 5.9 % 13.5 %\n Net income((4)) $ 73,482 $ 64,533 $ 138,015\n Diluted earnings per share $ 1.28 $ 2.41\n\n Items (1) through (4) above are detailed in the table below with the specific\n cross-reference noted in the appropriate item.\n\n Three Months Ended\n\nMarch 31,\n 2026 2025\n Stock-based compensation expenses $ 22,853 $ 23,923\n Humanitarian support in Ukraine((a)) 557 618\n Total adjustments to GAAP cost of revenues((1)) 23,410 24,541\n Stock-based compensation expenses 27,066 24,533\n Cost Optimization charges((b)) 13,396 5,311\n Other acquisition-related expenses 6 570\n Humanitarian support in Ukraine((a)) 2,409 3,732\n One-time charges (benefits) (37) 77\n Total adjustments to GAAP selling, general and administrative expenses((2)) 42,840 34,223\n Amortization of acquired intangible assets 17,718 17,656\n Total adjustments to GAAP income from operations((3)) 83,968 76,420\n Foreign exchange loss (gain) (2,298) 10,727\n Gain on financial instrument — (350)\n Change in fair value of contingent consideration included in Interest and 985 (1,737)\n other income, net\n Provision for income taxes:\n Tax effect on non-GAAP adjustments (19,131) (19,910)\n Tax shortfall (excess tax benefit) related to stock-based compensation 9,849 (543)\n Net discrete benefit from tax planning((c)) (669) (74)\n Total adjustments to GAAP net income((4)) $ 72,704 $ 64,533\n\n (a) Humanitarian support in Ukraine includes expenses related to EPAM's $100\n million humanitarian commitment in response to Russia's invasion of Ukraine to\n support EPAM professionals and their families in and displaced from Ukraine.\n These expenses are incremental to those expenses incurred prior to the crisis,\n clearly separable from normal operations, and not expected to recur once the\n crisis has subsided and operations return to normal.\n\n (b) Cost Optimization charges include employee separation costs incurred in\n connection with the programs initiated in the second quarter of 2024 and\n second quarter of 2025. Consistent with the Company's historical non-GAAP\n policy, costs incurred in connection with formal restructuring initiatives\n have been excluded from non-GAAP results as these are attributable to targeted\n restructuring efforts and not expected to recur once the respective Cost\n Optimization program is completed.\n\n (c) Net discrete benefit related to the implementation of tax planning to\n disregard certain foreign subsidiaries as separate entities for U.S. income\n tax purposes. Consistent with the Company's historical non-GAAP policy, the\n benefit related to the implementation of tax planning has been excluded from\n non-GAAP results as it is one-time and unusual in nature.\n\nEPAM SYSTEMS, INC. AND SUBSIDIARIES\n\nReconciliations of Guidance Non-GAAP Financial Measures to Comparable GAAP\nFinancial Measures\n(Unaudited)\n\nThe below guidance constitutes forward-looking statements within the meaning\nof the federal securities laws and is based on a number of assumptions that\nare subject to change and many of which are outside the control of the\nCompany. Actual results may differ materially from the Company's expectations\ndepending on factors discussed in the Company's filings with the Securities\nand Exchange Commission.\n\nReconciliation of expected year-over-year revenue growth on a GAAP basis to\nexpected revenue growth on an organic constant currency basis is presented in\nthe table below:\n Second Quarter 2026 Full Year 2026\n (at midpoint of range)\n Revenue growth 4.0 % 4.0% to 6.5%\n Foreign exchange rates impact (1.3) % (1.5) %\n Inorganic revenue growth — % — %\n Revenue growth on an organic constant currency basis 2.7 % 2.5% to 5.0%\n\n Reconciliation of expected GAAP to non-GAAP income from operations as a\n percentage of revenues is presented in the table below:\n\n Second Quarter 2026 Full Year 2026\n GAAP income from operations as a percentage of revenues 9.0% to 10.0% 10.0% to 11.0%\n Stock-based compensation expenses 3.6 % 3.2 %\n Included in cost of revenues (exclusive of depreciation and amortization) 1.6 % 1.4 %\n Included in selling, general and administrative expenses 2.0 % 1.8 %\n Humanitarian support in Ukraine((a)) 0.2 % 0.2 %\n Cost Optimization charges((b)) 1.0 % 0.4 %\n Amortization of acquired intangible assets 1.2 % 1.2 %\n Non-GAAP income from operations as a percentage of revenues((d)) 15.0% to 16.0% 15.0% to 16.0%\n\n (d) EPAM has not included the impact of potential future one-time charges\n including asset impairments, unusual gains and losses, expenses incurred in\n connection with future cost optimization actions, and other\n acquisition-related expenses because the Company is unable to predict these\n amounts with reasonable certainty.\n\n Reconciliation of expected GAAP to non-GAAP effective tax rate is presented in\n the table below:\n\n Second Quarter 2026 Full Year 2026\n GAAP effective tax rate (approximately) 27.0 % 27.0 %\n Tax effect on non-GAAP adjustments (1.9) % (1.0) %\n Tax shortfall related to stock-based compensation (1.1) % (2.1) %\n Net discrete benefit from tax planning((c)) — % 0.1 %\n Non-GAAP effective tax rate (approximately) 24.0 % 24.0 %\n\n Reconciliation of expected GAAP to non-GAAP diluted earnings per share is\n presented in the table below:\n\n Second Quarter 2026 Full Year 2026\n GAAP diluted earnings per share $1.79 to $1.87 $8.29 to $8.59\n Stock-based compensation expenses 0.95 3.55\n Included in cost of revenues (exclusive of depreciation and amortization) 0.43 1.62\n Included in selling, general and administrative expenses 0.52 1.93\n Humanitarian support in Ukraine((a)) 0.05 0.21\n Cost Optimization charges((b)) 0.25 0.51\n Amortization of acquired intangible assets 0.33 1.31\n Change in fair value of contingent consideration — 0.02\n Foreign exchange loss 0.06 0.13\n Provision for income taxes:\n Tax effect on non-GAAP adjustments (0.36) (1.27)\n Tax shortfall related to stock-based compensation 0.03 0.24\n Net discrete benefit from tax planning((c)) — (0.01)\n Non-GAAP diluted earnings per share((d)) $3.10 to $3.18 $12.98 to $13.28\n\n \n\n(https://mma.prnewswire.com/media/2223594/EPAM_Logo.html)\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/epam-reports-results-for-first-quarter-2026-302764876.html\n(https://www.prnewswire.com/news-releases/epam-reports-results-for-first-quarter-2026-302764876.html)\n\nSOURCE EPAM Systems, Inc.\n\n\n\nEPAM Systems, Inc., Mike Rowshandel, Head of Investor Relations, Phone: +1-267-759-9000 x393336, Email: mike_rowshandel@epam.com\n\nPhoto: \nhttps://mma.prnewswire.com/media/2974403/EOQ_Q1_05_26_FINAL_HiRes.jpg\nhttps://mma.prnewswire.com/media/2223594/EPAM_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-05-07T10:00:01.42284783Z","server_sent_at_ms":1778148001422},"received_at":"2026-05-07T10:00:01.563Z","source_url":"https://www.prnewswire.com/news-releases/epam-reports-results-for-first-quarter-2026-302764876.html"},"analysis":{"id":"19533","press_release_id":"24958","analysis_json":{"industry":{"label":"IT Services","sector":"Information Technology"},"redFlags":["Organic constant currency growth guidance of 2.5-5.0% implies deceleration","Cash used in operating activities was $36.4M vs positive cash flow in prior year"],"eventType":"earnings","narrative":"EPAM reported Q1 revenue of $1.400 billion, up 7.6% year-over-year, with GAAP EPS increasing 18.8% to $1.52 and non-GAAP EPS rising 18.7% to $2.86.\n\nThe company returned significant capital to shareholders, spending $324 million on buybacks including a $300 million accelerated repurchase agreement.\n\nFor the full year, EPAM expects revenue growth of 4.0% to 6.5% and non-GAAP EPS between $12.98 and $13.28, maintaining confidence amidst macroeconomic shifts.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Strong EPS beat and hefty $300M ASR underscore management confidence despite modest organic growth outlook."},"keyFigures":{"eps":1.52,"revenue":1400061000,"guidance":"FY26 revenue growth 4.0% to 6.5% (organic constant currency 2.5% to 5.0%); GAAP EPS $8.29 to $8.59, non-GAAP EPS $12.98 to $13.28","revenueYoy":"7.6%","customDimensions":{"asr_value":300000000,"headcount":62750,"non_gaap_eps":2.86,"buyback_total_q1":324000000,"operating_income_gaap":116768000,"operating_income_non_gaap":200736000}},"quotedText":"We are pleased to report a strong first quarter and solid start of the year amidst a rapidly evolving macroeconomic landscape.","namedEntities":{"people":[{"name":"Balazs Fejes","role":"CEO & President"},{"name":"Mike Rowshandel","role":"Head of Investor Relations"}],"products":[],"companies":[{"name":"EPAM Systems, Inc.","ticker":"EPAM"}],"dollarAmounts":[{"amount":"$1.400 billion","context":"Q1 revenue"},{"amount":"$324 million","context":"total share repurchases in Q1"},{"amount":"$300 million","context":"accelerated share repurchase (ASR) agreement"}]},"materialImpact":{"score":4,"reasoning":"EPAM delivered strong Q1 results with revenue up 7.6% YoY and non-GAAP EPS increasing 18.7%. The company returned significant capital via a $324M buyback program, including a $300M accelerated repurchase. While full-year guidance implies modest organic growth, the operational execution and capital return signal strength."},"tickerRelevance":{"others":[],"primary":"EPAM"},"globalImportance":35,"audienceRelevance":60,"eventTypeSecondary":["guidance_update","buyback"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"Q1 earnings with buyback","sectorWeight":"IT Services","householdBrandBoost":false}},"event_type":"earnings","event_type_secondary":["guidance_update","buyback"],"sentiment":"bullish","material_impact_score":4,"narrative":"EPAM reported Q1 revenue of $1.400 billion, up 7.6% year-over-year, with GAAP EPS increasing 18.8% to $1.52 and non-GAAP EPS rising 18.7% to $2.86.\n\nThe company returned significant capital to shareholders, spending $324 million on buybacks including a $300 million accelerated repurchase agreement.\n\nFor the full year, EPAM expects revenue growth of 4.0% to 6.5% and non-GAAP EPS between $12.98 and $13.28, maintaining confidence amidst macroeconomic shifts.","key_figures":{"eps":1.52,"revenue":1400061000,"guidance":"FY26 revenue growth 4.0% to 6.5% (organic constant currency 2.5% to 5.0%); GAAP EPS $8.29 to $8.59, non-GAAP EPS $12.98 to $13.28","revenueYoy":"7.6%","customDimensions":{"asr_value":300000000,"headcount":62750,"non_gaap_eps":2.86,"buyback_total_q1":324000000,"operating_income_gaap":116768000,"operating_income_non_gaap":200736000}},"named_entities":{"people":[{"name":"Balazs Fejes","role":"CEO & President"},{"name":"Mike Rowshandel","role":"Head of Investor Relations"}],"products":[],"companies":[{"name":"EPAM Systems, Inc.","ticker":"EPAM"}],"dollarAmounts":[{"amount":"$1.400 billion","context":"Q1 revenue"},{"amount":"$324 million","context":"total share repurchases in Q1"},{"amount":"$300 million","context":"accelerated share repurchase (ASR) agreement"}]},"model_name":"glm-4.7","prompt_hash":"sha256:f66160e0fe5301b2","schema_hash":"sha256:12363694422af5d9","created_at":"2026-05-07T19:10:26.065Z","global_importance":35,"audience_relevance":60,"importance_components":{"tickerTier":"mid-cap","eventGravity":"Q1 earnings with buyback","sectorWeight":"IT Services","householdBrandBoost":false}},"durationMs":null,"modelName":"glm-4.7"}}