Market Risks - The company faces significant risks in emerging markets, including economic volatility and foreign exchange risks, which could materially impact revenues and operations [93]. - A majority of the company's revenues are generated in North America and Western Europe, while most personnel are located in lower-cost emerging markets, increasing exposure to currency fluctuations [93]. - The company faces risks from economic downturns in North America and Europe, which could lead to reduced demand for its services and negatively impact revenues and profitability [114]. - The company has significant operations in countries with unstable banking systems, which could lead to potential loss of deposits and liquidity issues [95]. - Changes in tax policies in Belarus and other operational countries could significantly increase operating expenses and affect financial results [101]. - Changes in tax laws and regulations across jurisdictions could materially affect the company's effective tax rate and overall profitability [151]. Competitive Landscape - The competitive landscape is intensifying, with pressure from both offshore IT service providers and large global consulting firms, potentially affecting pricing and market share [96]. - The company must adapt to rapidly changing technologies and evolving industry standards to remain competitive; failure to do so could result in loss of customers and market share [118]. Revenue Dependence and Uncertainty - The company relies heavily on customer contracts, which are generally not long-term, leading to uncertainty in future revenues and profitability [108]. - The potential for customer insolvency or changes in strategic priorities could lead to contract terminations, adversely affecting revenues [109]. - A significant portion of the company's revenues is dependent on five key industry verticals: Financial Services, Software & Hi-Tech, Business Information & Media, Travel & Consumer, and Life Sciences & Healthcare [110]. - The long selling and implementation cycle for services requires substantial resource commitments, which may lead to fluctuations in revenue recognition and affect overall business performance [116]. Compliance and Regulatory Risks - The company is subject to various legal and regulatory requirements, and non-compliance could lead to significant penalties and operational disruptions [105]. - Legislative changes regarding offshore outsourcing and visa regulations could adversely impact the company's ability to deploy personnel effectively [104]. - Compliance with evolving environmental, social, and governance (ESG) regulations may result in increased operational costs and reputational risks [100]. - The company is subject to significant privacy and data protection regulations, including GDPR and California privacy laws, which impose substantial compliance costs and risks of penalties for non-compliance [141]. Intellectual Property and Reputation - The company relies on a combination of intellectual property protections, but may face challenges in enforcing these rights, which could impact its competitive position [125]. - The existence and ownership of intellectual property rights related to generative AI technologies are under review, posing potential legal liabilities for the company [130]. - The company may incur significant costs defending against intellectual property infringement claims, which could divert management attention and resources [129]. - The company’s ability to generate and retain business is closely tied to its reputation in the marketplace, making it vulnerable to negative perceptions [124]. - The company’s reputation is critical for attracting and retaining customers; any damage to its reputation could adversely affect business and financial performance [123]. Cybersecurity and Information Security - The company has faced cybersecurity incidents in the past and expects to continue being targeted by sophisticated attacks, which complicates its ability to defend against evolving threats [135]. - The company must continuously enhance its information security measures, which incurs costs that can reduce profitability [140]. - The company’s ability to monitor third-party suppliers' information security systems is limited, increasing vulnerability to potential breaches [136]. Financial Position and Capital Needs - The company believes its current cash, cash flow from operations, and revolving line of credit are sufficient to meet anticipated cash needs for at least the next twelve months [147]. - The company may require additional capital for future investments or acquisitions, and failure to secure favorable terms could limit growth [147]. Operational Risks - The company faces risks from natural disasters and geopolitical instability that could disrupt operations and negatively impact financial results [150]. - The company’s software development solutions involve high technological complexity, which may lead to undetected design defects or errors that could adversely affect business [144]. - The company’s pricing structures are highly dependent on accurate forecasts and assumptions; inaccuracies could lead to unprofitable contracts and cost overruns [113]. - The company has experienced substantial price volatility in its stock due to variations between actual and anticipated financial results, competitor announcements, and geopolitical events [145].

Report underscores increasing consumer expectations for enhanced digital capabilities, with the emergence of fintech disruptors offering more personalized and convenient digital experiencesNEWTOWN, Pa., Feb. 20, 2024 /PRNewswire/ -- EPAM Continuum, the integrated business, technology and experience consulting practice of EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced the release of its fourth annual Consumer Banking Report, reveali ...

EPAM Systems’ (EPAM) shares gained 8% on Thursday after the company reported better-than-expected fourth-quarter 2023 results. The company’s fourth-quarter non-GAAP earnings of $2.75 per share beat the Zacks Consensus Estimate of $2.51. However, the figure decreased 6.1% year over year.Revenues were $1.16 billion, which surpassed the consensus mark of $1.14 billion. However, the top line declined 6% year over year. On a constant-currency basis, excluding the effect of EPAM's withdrawal from Russia, the top ...

• $563M of cash flow from operations for the last 12 months1 • $675M line of credit available in U.S.1 2. Forrester Wave™: Digital Platform Engineering Services, Q2 2016 Cash Flow & Balance Sheet • $2.0B cash balance with nominal debt1 • Capital allocation strategy focused on acquisitions to enhance or add capabilities, in addition, share repurchases to offset dilution from employee equity programs Footnote References on Page 30 EPAM Proprietary & Confidential. 28 EPAM Proprietary & Confidential. 29 Footnot ...

Fourth Quarter 2023 Revenues of $1.157 billion, down 6.0% year-over-year GAAP Income from Operations was 10.6% of revenues and Non-GAAP Income from Operations was 17.3% of revenues GAAP Diluted EPS of $1.66, a decrease of 36.4%, and Non-GAAP Diluted EPS of $2.75, a decrease of 6.1% on a year-over-year basis Full Year 2023 Revenues of $4.691 billion, down 2.8% year-over-year GAAP Income from Operations was 10.7% of revenues and Non-GAAP Income from Operations was 16.3% of revenues GAAP Diluted EPS of $7.06, ...

The study found that EPAM is highly regarded in areas including innovation, business culture and employee experience. EPAM ranked 6th among more than 1,400 companies identified, climbing five spots from 2023. More than 14,000 young professionals were surveyed to identify the most aspirational companies and elements that make the organization's value offer unique. "We're honored to be recognized as a top tech company among young professionals in Colombia," said JP Vergara, Senior Director, Country Head, Colo ...

With high customer satisfaction scores and significant leads above competitors and market averages, EPAM has differentiated itself as a top IT service provider in the European IT sourcing marketNEWTOWN, Pa., Feb. 5, 2024 /PRNewswire/ -- EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced it has been named a Top IT Sourcing Vendor in Europe, earning recognition for exceptional client satisfaction and strong category performance rankings ...

Company Initiatives - EPAM announced $100 million of humanitarian support for its Ukrainian employees and their families[1] - EPAM is now in more than 50 countries as part of its global diversification efforts[1] Market Overview - The Enterprise IT Services Market is estimated to be a $1.8 Trillion+ Total Addressable Market for 2026[6] - The market includes segments like Consulting ($347B), Infrastructure as a Service (IaaS) ($401B), and Application Implementation & Managed Services ($309B)[3] Financial Performance & Positioning - EPAM's 2022 revenues reached $4.825B[56] - EPAM is positioned in the dynamic subset of the Consult and Build Services Market, including expanded coverage in Cloud, Consulting and Security[16] - EPAM's Q3 2023 revenues from the CEE region were $4M, a decrease of 66.4% year-over-year[48] - EPAM's Q3 2023 revenues from the EMEA region were $446M, reflecting a 1.8% increase year-over-year[48] - EPAM's Q3 2023 revenues from the Americas were $247M, a decrease of 3.3% year-over-year[72] - EPAM's Q3 2023 revenues from APAC were $25M, a decrease of 20.2% year-over-year[48] - Financial Services revenue in Q3 2023 was $677M, a decrease of 9.3% year-over-year[49] - Emerging Software & Hi-tech revenue in Q3 2023 was $160M, reflecting 8.5% year-over-year growth[57] - Life Sciences & Healthcare revenue in Q3 2023 was $174M, a decrease of 15.1% year-over-year[57] - Travel & Consumer revenue in Q3 2023 was $124M, a decrease of 4.2% year-over-year[57] - Business Information & Media revenue in Q3 2023 was $263M, a decrease of 6.2% year-over-year[57]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________to________ Commission file number: 001-35418 EPAM SYSTEMS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...

EPAM Systems, Inc. (NYSE:EPAM) Q2 2023 Earnings Conference Call August 3, 2023 8:00 AM ET Company Participants David Straube - Head, Investor Relations Arkadiy Dobkin - President and CEO Jason Peterson - Chief Financial Officer Conference Call Participants Bryan Bergin - TD Cowen Tyler DuPont - Bank of America David Grossman - Stifel Maggie Nolan - William Blair Ramsey El-Assal - Barclays Moshe Katri - Wedbush Securities Puneet Jain - JPMorgan Arvind Ramnani - Piper Sandler Operator Good day and thank you f ...