EPAM Systems, Inc. Q1 FY26 Results

Summary

EPAM Systems, Inc. reported first quarter 2026 revenues of $1.400 billion, a 7.6% increase year-over-year. GAAP income from operations was 8.3% of revenues, and non-GAAP income from operations was 14.3% of revenues. The company's GAAP diluted EPS was $1.52, up 18.8% year-over-year, and non-GAAP diluted EPS was $2.86, up 18.7% year-over-year. For the full year, EPAM expects revenue growth between 4.0% and 6.5% and GAAP diluted EPS between $8.29 and $8.59.

Key Highlights

1. 1

   EPAM's first quarter revenues reached $1.400 billion, reflecting a 7.6% year-over-year increase.

2. 2

   GAAP income from operations was 8.3% of revenues, while non-GAAP income from operations was 14.3% for the first quarter.

3. 3

   The company's GAAP diluted EPS for the first quarter was $1.52, an 18.8% increase year-over-year.

4. 4

   Non-GAAP diluted EPS for the first quarter was $2.86, representing an 18.7% increase year-over-year.

5. 5

   EPAM spent $324 million on stock repurchases in the first quarter, including $300 million for an accelerated share repurchase agreement.

6. 6

   The company now expects full-year revenue growth to be in the range of 4.0% to 6.5% year-over-year.

7. 7

   EPAM now expects full-year GAAP diluted EPS to be in the range of $8.29 to $8.59, and non-GAAP diluted EPS to be in the range of $12.98 to $13.28.