Company Overview - EPAM Systems, Inc. is a leading global provider of digital engineering, cloud, and AI-enabled transformation services, established in 1993 [3] - The company focuses on addressing clients' transformation challenges through an integrated strategy that combines experience and technology consulting with over 30 years of engineering execution [3] Financial Results Announcement - EPAM Systems will host a conference call on August 7, 2025, at 8:00 a.m. ET to discuss its second quarter 2025 financial results, with a news release to be issued prior to the call [1] Digital Innovation and AI Integration - The company leverages AI and GenAI to deliver transformative solutions that enhance clients' digital innovation and competitive edge [4] - EPAM integrates advanced AI technologies into tailored business strategies through platforms like EPAM AI/RUN™ and initiatives such as DIALX Lab [4] Global Presence and Recognition - EPAM serves customers across six continents and has been recognized as one of the top 15 companies in Information Technology Services in the Fortune 1000 [6] - The company was added to the S&P 500 and Forbes Global 2000 in 2021 and has received accolades from Glassdoor and Newsweek as a Most Loved Workplace [6]

Core Insights - EPAM Systems, Inc. has launched DIAL 3.0, an open-source GenAI platform aimed at facilitating enterprise AI adoption through a modular and open-source approach [1][3] - DIAL 3.0 is designed to help clients accelerate value delivery while avoiding vendor lock-in, bridging commercial models with open innovation [3][4] - The platform has evolved from an internal tool to a comprehensive framework utilized by global clients across various industries, including financial services, healthcare, and retail [4][5] Company Strategy - EPAM emphasizes a hybrid strategy that combines structured platform thinking with the flexibility of open source, allowing organizations to move faster in AI deployment [4] - The platform supports agentic workflows and data-native reasoning, addressing structural challenges of deploying AI at scale across business functions [4] - DIAL 3.0 introduces new methodologies for working with both structured and unstructured data, promoting collaboration across enterprises [4][5] Client Engagement - Altera Digital Health, an early adopter of DIAL, highlights the platform's ability to improve operational efficiency and the importance of EPAM's commitment to open-source innovation [5][6] - The continued evolution of DIAL has fostered trust among clients as they scale their AI solutions [6] Industry Position - EPAM Systems has established itself as a leading global provider of digital engineering and AI-enabled transformation services, addressing clients' transformation challenges through integrated strategy and technology consulting [10] - The company is recognized for its significant impact in the industry, being included in the S&P 500 and Forbes Global 2000, and is noted for its leadership in various IT service categories [10]

Core Viewpoint - EPAM Systems, Inc. announces a leadership transition with Arkadiy Dobkin moving to Executive Chairman and Balazs Fejes appointed as the new CEO effective September 1, 2025 [1][2] Leadership Transition - Arkadiy Dobkin will focus on strategic initiatives and maintaining key relationships while supporting the company's mission as Executive Chairman [2][3] - Balazs Fejes, with over 20 years at EPAM, is positioned to lead the company forward, emphasizing the expansion of engineering and consulting capabilities [4][6] Company Milestones - Founded in 1993, EPAM has grown to over 61,000 professionals in more than 55 countries, leading digital transformation efforts globally [3][9] - Key milestones include the successful IPO in 2012, inclusion in the S&P 500 in 2021, and recognition as one of the Fortune 100 Fastest-Growing Companies for three consecutive years [5][9] Strategic Focus - The company is committed to advancing AI-native solutions and has positioned itself for future growth, aiming to surpass $5 billion in annual revenue [5][20] - EPAM's leadership has been recognized for its contributions to the tech industry, with Dobkin receiving multiple awards for his leadership [11][9]

Core Insights - EPAM Systems, Inc. reported strong first quarter results for 2025, with revenues of $1.302 billion, reflecting an 11.7% year-over-year increase, and raised its full-year revenue outlook to a growth rate of 11.5% to 14.5% [1][4][5] Financial Performance - First quarter revenues reached $1.302 billion, an increase of $136.2 million or 11.7% year-over-year [4][5] - GAAP income from operations was $99.3 million, a decrease of 10.1% from $110.5 million in the first quarter of 2024 [5] - Non-GAAP income from operations was $175.8 million, an increase of 1.2% compared to $173.6 million in the first quarter of 2024 [5] - GAAP diluted EPS was $1.28, down 35.0% from $1.97 in the first quarter of 2024, while non-GAAP diluted EPS was $2.41, a decrease of 2.0% from $2.46 [5] Cash Flow and Other Metrics - Cash provided by operating activities was $24.2 million for the first quarter of 2025, significantly lower than $129.9 million for the same period in 2024 [5] - Cash, cash equivalents, and restricted cash totaled $1.179 billion as of March 31, 2025, down 8.7% from $1.290 billion as of December 31, 2024 [5] - The company repurchased 796 thousand shares for $160.0 million during the first quarter of 2025 [5] 2025 Outlook - For the full year, EPAM expects GAAP income from operations to be in the range of 9.0% to 10.0% of revenues and non-GAAP income from operations to be in the range of 14.5% to 15.5% of revenues [4][5] - The company anticipates second quarter revenues to be between $1.325 billion and $1.340 billion, reflecting year-over-year growth of 16.2% at the midpoint [13]