EPAM on NYSE
EPAM Systems
Logo: EPAM Systems, Public domain, via Wikimedia Commons4
EPAM Systems is a global provider of software engineering and IT consulting services founded in 1993.1 It is headquartered in Newtown.1 It employed about 52,600 people in 2021.1 Its revenue was $2.3 billion in 2019.1
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Last updated Oct 21, 2026.
Overview
1993Founded1
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- TickerEPAM on NYSE1
- Industryconsultation, outsourcing, software industry1
- HeadquartersPennsylvania1
- Websitewww.epam.com
- Legal formDelaware corporation1
- Incorporated inDE5
- Business address41 University Drive, Suite 202, Newtown, Pa 189405
- Filer categoryLarge accelerated filer5
- LEI549300XCR4R530HJP6043
- StatusActive3
- LEI statusIssued and current3
- Registered addressC/O UNITED AGENT GROUP INC., 19803 Wilmington, United States3
- Registered withDivision of Corporations, Department of State, 36041503
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EPAM has used its software engineering expertise to become a leading global provider of digital engineering, cloud and artificial intelligence-enabled transformation services, and a leading business and experience consulting partner for global enterprises and ambitious start-ups. We address our clients’ transformation challenges by fusing EPAM Continuum’s integrated strategy, experience and technology consulting with our 30+ years of engineering execution to speed our clients’ time to market and drive greater value from their innovations and digital investments.7 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
9.5%Operating margin8
6.9%Net margin8
15.4%Revenue growth, 20258
10.3%Return on equity8
0.01×Debt to equity8
$612.7MFree cash flow8
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Americas brought in 58% of the revenue EPAM Systems broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Americas | $2.8B | $2.9B | $3.2B |
| Europe | $1.9B | $1.9B | $2.3B |
Regions
Americas brought in 28% of the revenue EPAM Systems broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| Americas | $2.7B | $2.8B | $3.2B |
| North America | $2.8B | $2.9B | $3.2B |
| EMEA | $1.8B | $1.8B | $2.1B |
| Other Countries | $689.7M | $722.0M | $1.1B |
| United Kingdom | $585.2M | $523.4M | $597.3M |
| Switzerland | $367.1M | $407.8M | $438.5M |
| Germany | $178.5M | $206.1M | $233.4M |
| Netherlands | $236.3M | $188.6M | $229.8M |
| Asia Pacific | $102.1M | $100.0M | $108.8M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue71¢$3.9B
- Selling, general and admin17¢$928.7M
- Other costs3¢$139.2M
- Income tax2¢$127.9M
- Profit7¢$377.7M
Out of $5.5B in revenue.8
Where each dollar of operating cash went, fiscal 2025
- Capital spending6¢$42.2M
- Share buybacks94¢$662.2M
Out of $654.9M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.8
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.8
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenues | $5.5B | $4.7B | $4.7B |
| Cost of revenues (exclusive of depreciation and amortization) | $3.9B | $3.3B | $3.3B |
| Selling, general and administrative expenses | $928.7M | $816.3M | $815.1M |
| Depreciation and amortization expense | $124.8M | $89.6M | $91.8M |
| Loss on sale of business | $0 | $0 | $25.9M |
| Income from operations | $520.0M | $544.6M | $501.2M |
| Interest and other income, net | $11.5M | $46.9M | $51.1M |
| Foreign exchange loss | -$25.9M | -$7.0M | -$15.8M |
| Income before provision for income taxes | $505.6M | $584.4M | $536.6M |
| Provision for income taxes | $127.9M | $129.9M | $119.5M |
| Net income | $377.7M | $454.5M | $417.1M |
| Basic (in dollars per share) | $6.76 | $7.93 | $7.21 |
| Diluted (in dollars per share) | $6.72 | $7.84 | $7.06 |
| Basic (in shares) | 55.9M shares | 57.3M shares | 57.8M shares |
| Diluted (in shares) | 56.2M shares | 58.0M shares | 59.1M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.8
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $1.3B | $1.3B | $2.0B | |
| Trade receivables and contract assets, net of allowance of $6,350 and $5,612, respectively | $1.1B | $1.0B | ||
| Prepaid and other current assets | $129.6M | $137.8M | ||
| Total current assets | $2.5B | $2.4B | ||
| Property and equipment, net | $202.4M | $207.7M | ||
| Operating lease right-of-use assets, net | $114.9M | $128.2M | ||
| Intangible assets, net | $406.6M | $436.4M | ||
| Goodwill | $1.2B | $1.2B | $562.5M | |
| Deferred tax assets | $295.1M | $269.8M | ||
| Other noncurrent assets | $138.7M | $100.5M | ||
| Total assets | $4.9B | $4.8B | ||
| Accounts payable | $55.3M | $44.7M | ||
| Accrued compensation and benefits expenses | $608.2M | $485.0M | ||
| Accrued expenses and other current liabilities | $250.7M | $201.4M | ||
| Income taxes payable, current | $25.5M | $50.4M | ||
| Operating lease liabilities, current | $37.2M | $39.6M | ||
| Total current liabilities | $976.9M | $821.0M | ||
| Long-term debt | $25.0M | $25.2M | ||
| Operating lease liabilities, noncurrent | $81.5M | $98.4M | ||
| Deferred tax liabilities, noncurrent | $77.0M | $92.4M | ||
| Other noncurrent liabilities | $63.9M | $82.3M | ||
| Total liabilities | $1.2B | $1.1B | ||
| Common stock, $0.001 par value; 160,000 authorized; 54,274 shares issued and outstanding at December 31, 2025, and 56,869 shares issued and outstanding at December 31, 2024 | $54.0K | $57.0K | ||
| Additional paid-in capital | $1.4B | $1.2B | ||
| Retained earnings | $2.3B | $2.6B | ||
| Accumulated other comprehensive income (loss) | $18.5M | -$116.9M | ||
| Total EPAM Systems, Inc. stockholders equity | $3.7B | $3.6B | ||
| Noncontrolling interest in consolidated subsidiaries | $582.0K | $1.9M | ||
| Total equity | $3.7B | $3.6B | $3.5B | $3.0B |
| Total liabilities and equity | $4.9B | $4.8B | ||
| Trade receivables and contract assets, allowance | $6.3M | $5.6M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 160.0M shares | 160.0M shares | ||
| Common stock, shares issued (in shares) | 54.3M shares | 56.9M shares | ||
| Common stock, shares outstanding (in shares) | 54.3M shares | 56.9M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $1.3B | $1.3B | $2.0B | |
| Trade receivables and contract assets, net of allowance of $6,350 and $5,612, respectively | $1.1B | $1.0B | ||
| Prepaid and other current assets | $129.6M | $137.8M | ||
| Total current assets | $2.5B | $2.4B | ||
| Property and equipment, net | $202.4M | $207.7M | ||
| Operating lease right-of-use assets, net | $114.9M | $128.2M | ||
| Intangible assets, net | $406.6M | $436.4M | ||
| Goodwill | $1.2B | $1.2B | $562.5M | |
| Deferred tax assets | $295.1M | $269.8M | ||
| Other noncurrent assets | $138.7M | $100.5M | ||
| Total assets | $4.9B | $4.8B | ||
| Accounts payable | $55.3M | $44.7M | ||
| Accrued compensation and benefits expenses | $608.2M | $485.0M | ||
| Accrued expenses and other current liabilities | $250.7M | $201.4M | ||
| Income taxes payable, current | $25.5M | $50.4M | ||
| Operating lease liabilities, current | $37.2M | $39.6M | ||
| Total current liabilities | $976.9M | $821.0M | ||
| Long-term debt | $25.0M | $25.2M | ||
| Operating lease liabilities, noncurrent | $81.5M | $98.4M | ||
| Deferred tax liabilities, noncurrent | $77.0M | $92.4M | ||
| Other noncurrent liabilities | $63.9M | $82.3M | ||
| Total liabilities | $1.2B | $1.1B | ||
| Common stock, $0.001 par value; 160,000 authorized; 54,274 shares issued and outstanding at December 31, 2025, and 56,869 shares issued and outstanding at December 31, 2024 | $54.0K | $57.0K | ||
| Additional paid-in capital | $1.4B | $1.2B | ||
| Retained earnings | $2.3B | $2.6B | ||
| Accumulated other comprehensive income (loss) | $18.5M | -$116.9M | ||
| Total EPAM Systems, Inc. stockholders equity | $3.7B | $3.6B | ||
| Noncontrolling interest in consolidated subsidiaries | $582.0K | $1.9M | ||
| Total equity | $3.7B | $3.6B | $3.5B | $3.0B |
| Total liabilities and equity | $4.9B | $4.8B | ||
| Trade receivables and contract assets, allowance | $6.3M | $5.6M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 160.0M shares | 160.0M shares | ||
| Common stock, shares issued (in shares) | 54.3M shares | 56.9M shares | ||
| Common stock, shares outstanding (in shares) | 54.3M shares | 56.9M shares |
Every line of the cash flow as filed: the last 3 fiscal years, latest first.8
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $377.7M | $454.5M | $417.1M |
| Depreciation and amortization expense | $124.8M | $89.6M | $91.8M |
| Operating lease right-of-use assets amortization expense | $41.3M | $37.5M | $40.9M |
| Bad debt expense (recovery) | $1.8M | -$4.4M | $4.0M |
| Deferred taxes | -$59.3M | -$64.2M | -$37.2M |
| Stock-based compensation expense | $176.8M | $167.3M | $147.7M |
| Unrealized gain on derivative instruments | $0 | $0 | -$7.9M |
| Impairment charges | $175.0K | $417.0K | $6.0M |
| Loss on sale of business | $0 | $0 | $25.9M |
| Other | $10.9M | $5.7M | -$599.0K |
| Trade receivables and contract assets | -$69.1M | $15.6M | $32.4M |
| Prepaid and other assets | -$14.8M | -$77.0M | $8.4M |
| Accounts payable | -$12.7M | -$29.1M | $154.0K |
| Accrued expenses and other liabilities | $144.1M | $10.7M | -$84.6M |
| Operating lease liabilities | -$46.2M | -$39.4M | -$48.1M |
| Income taxes payable | -$20.4M | -$8.2M | -$33.4M |
| Net cash provided by operating activities | $654.9M | $559.2M | $562.6M |
| Purchases of property and equipment | -$42.2M | -$32.1M | -$28.4M |
| Purchases of short-term investments | -$2.1M | -$1.2M | -$11.2M |
| Proceeds from short-term investments | $0 | $61.5M | $10.9M |
| Acquisition of businesses, net of cash acquired (Note 3) | -$3.4M | -$912.2M | -$24.8M |
| Purchases of non-marketable securities | -$1.0M | -$7.6M | -$3.3M |
| Proceeds from sale of non-marketable securities | $3.1M | $4.3M | $0 |
| Other investing activities, net | -$3.3M | $2.3M | -$9.9M |
| Net cash used in investing activities | -$49.0M | -$885.0M | -$66.8M |
| Proceeds from issuance of stock under employee incentive programs | $54.6M | $53.7M | $51.6M |
| Payments of withholding taxes related to net share settlements of equity awards | -$26.8M | -$35.2M | -$29.1M |
| Proceeds from debt | $5.7M | $8.0K | $825.0K |
| Repayment of debt | -$8.3M | -$1.9M | -$3.0M |
| Repurchase of common stock | -$662.2M | -$398.0M | -$164.9M |
| Payment of contingent consideration for previously acquired businesses | -$6.2M | -$6.2M | -$10.2M |
| Purchase of subsidiary shares from noncontrolling interest | -$1.4M | $0 | $0 |
| Other financing activities, net | -$6.7M | -$2.8M | -$11.0M |
| Net cash used in financing activities | -$651.2M | -$390.4M | -$165.8M |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | $56.3M | -$36.5M | $29.4M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $11.0M | -$752.7M | $359.5M |
| Interest | $1.4M | $3.7M | $4.7M |
| Capital expenditures incurred but not yet paid | $4.8M | $4.2M | $24.0M |
No quarter-by-quarter statement was filed.
Corporate structure
EPAM Systems sits at the top of its group. 133 entities, 59 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of EPAM Systems
- Invesco Filed SCHEDULE 13G/A on EPAM Systems, latest Aug 13, 2026 (3 filings since May 9, 2025)
- Capital World Investors Filed SCHEDULE 13G/A on EPAM Systems, latest Aug 12, 2026 (4 filings since Feb 13, 2026)
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G/A on EPAM Systems, latest Jul 31, 2026 (2 filings since Apr 29, 2026)
- Ameriprise Financial Filed SCHEDULE 13G/A on EPAM Systems, latest Jul 8, 2026 (2 filings since May 15, 2026)
- BlackRock Filed SCHEDULE 13G/A on EPAM Systems, latest Jul 8, 2026 (5 filings since Feb 3, 2022)
- VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on EPAM Systems, latest Apr 29, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on EPAM Systems, latest Mar 26, 2026 (4 filings since Jan 10, 2022)
- Capital Research Global Investors Filed SC 13G/A on EPAM Systems, latest Oct 7, 2024 (4 filings since Apr 8, 2022)
- AllianceBernstein Filed SC 13G/A on EPAM Systems, latest Feb 14, 2024 (2 filings since Feb 14, 2023)
- WCM INVESTMENT MANAGEMENT, LLC Filed SC 13G/A on EPAM Systems, latest Jan 30, 2024 (3 filings since Feb 10, 2022)
- Morgan Stanley Filed SC 13G/A on EPAM Systems, latest Apr 7, 2022 (2 filings since Feb 11, 2022)
- JPMorgan Chase Filed SC 13G/A on EPAM Systems, latest Jan 5, 2022
- EPAM Systems Newtown, Pennsylvania, United States
- EPAM Systems (Belarus) Subsidiary
- "EPAM Systems" Limited Liability Company Subsidiary · Azerbaijan
- Alliance Consulting Global Holdings, Inc. Subsidiary · Delaware, United States
- Alliance Global Services, Inc. Subsidiary · Delaware, United States
- Continuum Innovation LLC Subsidiary · Delaware, United States
- COREtransform GmbH Subsidiary · Germany
- Emakina (INDIA) Private Limited Subsidiary · India
- Emakina Asia PTE Ltd Subsidiary · Singapore
- Emakina Branch QFC Subsidiary · Qatar
- Emakina Lb. S.A.L. Subsidiary · Lebanon
- Emakina ZA Proprietary Limited Subsidiary · South Africa
- Emakina.DE GmbH i.L. Subsidiary · Germany
- Emakina.US Inc. Subsidiary · New York, United States
- EPAM CY Holdco, LLC Subsidiary · Delaware, United States
- EPAM Digital LLC Subsidiary · Ukraine
- EPAM France SAS Subsidiary · France
- EPAM Global Campus, LLC Subsidiary · Delaware, United States
- EPAM Government Solutions, LLC Subsidiary · Delaware, United States
- EPAM Intercompany Management, LLC Subsidiary · Delaware, United States
- EPAM Sistemos, UAB Subsidiary · Lithuania
- EPAM Solutions LLC Subsidiary · Ukraine
- EPAM Systems (Australia) Pty. Ltd. Subsidiary · Australia
- EPAM Systems (Czech Republic) s.r.o. Subsidiary · Czechia
- EPAM Systems (Georgia) LLC Subsidiary · Georgia, United States
- EPAM Systems (Hong Kong) Limited Subsidiary · Hong Kong
- and 107 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What EPAM Systems reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $447.2M8 Dec 31, 2025 | $428.3M8 Dec 31, 2024 | +4.4% |
| Accumulated depreciation | $244.9M8 Dec 31, 2025 | $220.6M8 Dec 31, 2024 | +11.0% |
| Property and equipment, net | $202.4M8 Dec 31, 2025 | $207.7M8 Dec 31, 2024 | −2.5% |
| Operating-lease assets (leased space) | $114.9M8 Dec 31, 2025 | $128.2M8 Dec 31, 2024 | −10.4% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $1.3B8 Dec 31, 2025 | $1.3B8 Dec 31, 2024 | +0.8% |
| Marketable securities, current | $1.7M12 Dec 31, 2024 | $60.7M12 Dec 31, 2023 | −97.2% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $1.2B8 Dec 31, 2025 | $1.2B8 Dec 31, 2024 | +2.5% |
| Intangible assets, net (excluding goodwill) | $406.6M8 Dec 31, 2025 | $436.4M8 Dec 31, 2024 | −6.8% |
| Indefinite-lived intangibles (excluding goodwill) | $08 Dec 31, 2025 | $012 Dec 31, 2024 | |
| Finite-lived intangibles, gross | $611.2M8 Dec 31, 2025 | $581.9M8 Dec 31, 2024 | +5.0% |
| Accumulated amortization | $204.6M8 Dec 31, 2025 | $145.4M8 Dec 31, 2024 | +40.7% |
| Finite-lived intangibles, net | $406.6M8 Dec 31, 2025 | $436.4M8 Dec 31, 2024 | −6.8% |
Properties, in its own words
Our corporate headquarters are located in Newtown, Pennsylvania. We own and lease office buildings used as delivery centers, client management locations and space for administrative and support functions. These facilities are located in numerous cities worldwide and are strategically positioned in relation to our talent sources and key in-market locations to align with the needs of our operations. We believe that our existing properties are adequate to meet the current requirements of our business, and that suitable additional or substitute space will be available, if necessary. We actively monitor the spaces we occupy and adjust the leased capacity and geographical locations of offices as our operational needs change. We continue to operate under a hybrid work model and we believe our existing facilities, both owned and leased, are in good operating condition and suitable for the conduct of our business. Our facilities are used interchangeably among our segments.
See Note 2 “Impact of the Invasion of Ukraine” in the notes to our consolidated financial statements in this Annual Report on Form 10-K for more information regarding our assets in Ukraine. See Note 7 “Property and Equipment, Net” in the notes to our consolidated financial statements in this Annual Report on Form 10-K for information regarding our long-lived assets and buildings we own. See Note 9 “Leases” in the notes to our consolidated financial statements in this Annual Report on Form 10-K for information regarding our leased assets. See Note 19 “Segment Information” in the notes to our consolidated financial statements in this Annual Report on Form 10-K for information regarding the geographical locations and values of our long-lived assets.
Item 2 of the 10-K filed Feb 26, 2026.7
Leadership
Who has led EPAM Systems, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
1995200020052010201520202025
- Chief executive officerBalazs Fejes Sep 2, 2025 to now16
- Chief executive officerIlya Cantor Feb 9, 2012 to Feb 9, 201217
- PresidentBalazs Fejes Sep 2, 2025 to now16
- Chief financial officerAnthony J. Conte Nov 13, 2013 to Apr 4, 201718
- Chief financial officerIlya Cantor Feb 7, 2012 to Oct 17, 201319
Board members and other officers (25)
- SVP/Co-Head of Global BusinessJason Harman Feb 22, 2018 to May 18, 202020
- SVP/Co-Head of Global BusinessSergey Yezhkov Feb 22, 2018 to now21
- SVP/Head of Global DeliveryViktar Dvorkin Feb 22, 2018 to now22
- VP, Corporate Controller, PAOGary C. Abrahams Apr 19, 2017 to now23
- Chief Marketing OfficerElaina Shekhter Jan 7, 2016 to now24
- SVP/Co-Head of Global BusinessBoris Shnayder Sep 20, 2016 to now25
- SVP & Chief People OfficerLawrence F. Solomon Dec 29, 2016 to now26
- Chief Technology OfficerBalazs Fejes Feb 7, 2012 to now27
- Pres. of EU Operations, EVPKarl Robb Feb 7, 2012 to Feb 24, 201528
- Board memberBalazs Fejes Sep 2, 2025 to now16
- Board memberDeanne Aguirre Mar 14, 2023 to now29
- Board memberChandra McMahon Jun 30, 2023 to now30
- Board memberEugene Roman Feb 12, 2020 to now31
- Board memberHelen L. Shan Sep 25, 2018 to now32
- Board memberJill Smart Jul 12, 2016 to now33
- Board memberPeter Kuerpick Sep 18, 2014 to Aug 2, 201934
- Board memberRichard Michael Mayoras Jan 10, 2013 to now35
- Board memberAndrew Guff Feb 7, 2012 to Nov 26, 201336
- Board memberDonald Spencer Feb 7, 2012 to Nov 26, 201337
- Board memberKarl Robb Feb 7, 2012 to now28
- Board memberRobert E. Segert Feb 7, 2012 to now38
- Board memberRonald P. Vargo Feb 7, 2012 to now39
- Board memberRoss Goodhart Feb 7, 2012 to Feb 7, 201240
- General counselEdward Rockwell Dec 14, 2018 to now41
- General counselGinger Mosier Feb 7, 2012 to Mar 27, 201842
Subsidiaries and ownership
Subsidiaries
- EPAM Systems (Belarus)
- EPAM Systems (Kazakhstan)
- EPAM Systems (Lithuania)
Subsidiaries (Exhibit 21)
- "EPAM Systems" Limited Liability Company Azerbaijan6
- Alliance Consulting Global Holdings, Inc. Delaware, USA6
- Alliance Global Services, Inc. Delaware, USA6
- Alliance Global Services, LLC Delaware, USA6
- COREtransform GmbH Germany6
- Continuum Innovation LLC Delaware, USA6
- EPAM CY Holdco, LLC Delaware, USA6
- EPAM Digital LLC Ukraine6
- EPAM France SAS France6
- EPAM Global Campus, LLC Delaware, USA6
- EPAM Government Solutions, LLC Delaware, USA6
- EPAM Intercompany Management, LLC Delaware, USA6
- EPAM SYSTEMS HELLAS SINGLE MEMBER PRIVATE COMPANY Greece6
- EPAM SYSTEMS.BE SRL Belgium6
- EPAM Sistemos, UAB Lithuania6
- EPAM Solutions LLC Ukraine6
- EPAM Systems (Australia) Pty. Ltd. Australia6
- EPAM Systems (Czech Republic) s.r.o. Czech Republic6
- EPAM Systems (Georgia) LLC Georgia6
- EPAM Systems (Hong Kong) Limited Hong Kong6
- EPAM Systems (Ireland) Limited Ireland6
- EPAM Systems (Poland) sp z.o.o. Poland6
- EPAM Systems (Shenzhen) Co. Ltd. China6
- EPAM Systems (Suzhou) Co., Ltd. China6
All 139 listed subsidiaries
- EPAM Systems (Switzerland) GmbH Switzerland6
- EPAM Systems (Vietnam) Company Limited Vietnam6
- EPAM Systems Albania SHPK Albania6
- EPAM Systems ApS Denmark6
- EPAM Systems Argentina S.R.L. Argentina6
- EPAM Systems Austria GmbH Austria6
- EPAM Systems Belgium Srl Belgium6
- EPAM Systems Brazil LTDA. Brazil6
- EPAM Systems Bulgaria EOOD Bulgaria6
- EPAM Systems Canada, ULC Canada6
- EPAM Systems Chile SpA Chile6
- EPAM Systems Colombia S.A.S Colombia6
- EPAM Systems Dominicana SRL Dominican Republic6
- EPAM Systems FE LLC Uzbekistan6
- EPAM Systems GmbH Germany6
- EPAM Systems Guernsey Limited Guernsey6
- EPAM Systems India Private Limited India6
- EPAM Systems International SRL Romania6
- EPAM Systems Italy S.r.l. Italy6
- EPAM Systems Japan G.K. Japan6
- EPAM Systems Kft Hungary6
- EPAM Systems LLC Armenia6
- EPAM Systems Limited Company Saudi Arabia6
- EPAM Systems Ltd. United Kingdom6
- EPAM Systems Mexico S. de R.L. de C.V. Mexico6
- EPAM Systems Montenegro d.o.o. Montenegro6
- EPAM Systems Netherlands BV Netherlands6
- EPAM Systems Nordic AB Sweden6
- EPAM Systems PTE Ltd. Singapore6
- EPAM Systems Philippines Philippines6
- EPAM Systems Portugal, Unipessoal Lda. Portugal6
- EPAM Systems SIA Latvia6
- EPAM Systems Spain SL Spain6
- EPAM Systems Turkey Yazılım Geliştirme Limited Şirketi Antalya OSB Teknopark Şubesi Turkey6
- EPAM Systems Turkey Yazılım Geliştirme Limited Şirketi Ege Serbest Bölge Şubesi Turkey6
- EPAM Systems Turkey Yazılım Geliştirme Limited Şirketi İstanbul Bilişim Vadisi Şubesi Turkey6
- EPAM Systems Turkey Yazılım Geliştirme Limited Şirketi İzmir Bilişim Vadisi Şubesi Turkey6
- EPAM Systems Uruguay S.R.L Uruguay6
- EPAM Systems WLL Qatar6
- EPAM Systems Yazılım Geliştirme Ltd. Şti. Turkey6
- EPAM Systems d.o.o. Croatia6
- EPAM Systems d.o.o. Beograd Serbia6
- EPAM Upskill, LLC Pennsylvania, USA6
- Emakina (INDIA) Private Limited India6
- Emakina Asia PTE Ltd Singapore6
- Emakina Branch QFC Qatar6
- Emakina Lb. S.A.L. Lebanon6
- Emakina ZA Proprietary Limited South Africa6
- Emakina.DE GmbH i.L. Germany6
- Emakina.US Inc. New York, USA6
- Essentia Advisory Partners, LLC Texas, USA6
- FD Technologies Spain, S.L.U. Spain6
- FIRST DERIVATIVE LTD United Kingdom6
- FIRST DERIVATIVES SOUTH AFRICA PROPRIETARY LIMITED South Africa6
- FOREFRONT LLC New Jersey, USA6
- First Derivative (Aus) Pty Ltd Australia6
- First Derivative (Hong Kong) Limited Hong Kong6
- First Derivative (Ireland) Limited Ireland6
- First Derivatives Canada Inc. Canada6
- First Derivatives Holdings, Inc. Delaware, USA6
- First Derivatives Japan Co., Limited Japan6
- First Derivatives Poland S.P. Z.o.o Poland6
- First Derivatives Pte. Ltd Singapore6
- First Derivatives Sweden AB Sweden6
- First Derivatives US, Inc. Delaware, USA6
- Great Fridays Inc. Delaware, USA6
- Guangzhou EPAM Systems Co., Ltd. China6
- J8 Corp British Virgin Islands6
- JUST BI Sdn Bhd Malaysia6
- LLC IT-PARK UNIVERSITY Uzbekistan6
- LLP EPAM Kazakhstan Kazakhstan6
- Limited Liability Partnership “EPAM Solutions” Kazakhstan6
- Lynxus Solutions LLC Delaware, USA6
- Lynxus Solutions S.A.S. Colombia6
- Maravir S.R.L. Uruguay6
- Maravir Technologies LLC Delaware, USA6
- Navigation Arts, Inc. Delaware, USA6
- Naya P.A.I. Technologies Inc. Delaware, USA6
- Naya P.A.I. Technologies Ltd. Israel6
- Neoris Argentina S.A. Argentina6
- Neoris BV Netherlands6
- Neoris Chile Ltda. Chile6
- Neoris Colombia S.A.S. Colombia6
- Neoris Consulting & Information Technology Services LLC Hungary6
- Neoris Consulting Argentina S.A. Argentina6
- Neoris Consulting Services India Private Ltd. India6
- Neoris Czech Republic S.R.O. Czech Republic6
- Neoris One Argentina S.A. Argentina6
- Neoris Peru S.A.C. Peru6
- Neoris Spain S.L.U. Spain6
- Neoris USA, Inc. Florida, USA6
- Neoris de Mexico S. de R.L. de C.V. Mexico6
- Neoris do Brasil Ltda. Brazil6
- Neoris-Ecuador S.A.S. Ecuador6
- Odysseus Data Services s.r.o. Czech Republic6
- Odysseus Data Services, Inc. Delaware, USA6
- PolSource Inc. Nevada, USA6
- PolSource Ltd. United Kingdom6
- PolSource sp. z.o.o. Poland6
- Ricston Limited Malta6
- S4N America Inc. Washington, USA6
- S4N Mexico S.C. Mexico6
- S4N Panama SRL Panama6
- ShareKnowledge Inc. Delaware, USA6
- Suzhou Evelo Technology Company Limited China6
- The Reference.US Inc. New York, USA6
- Think Limited United Kingdom6
- Vates Chile SPA Chile6
- Vates S.A. Argentina6
- Vates, Inc. Delaware, USA6
- Vested Development, Inc. Delaware, USA6
- WhiteHat Cyber Labs Ltd. Israel6
- WhiteHat Ltd. Israel6
- test IO GmbH Germany6
- test IO, Inc. Delaware, USA6
From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Employees over time
- 202152,6501
Former names
- EPAM SYSTEMS INCJan 31, 2006 to Dec 12, 20075
Timeline
- Aug 6, 20268-K Results of operations43
- May 26, 20268-K Executive or director change; Bylaws or fiscal year changed; Shareholder vote44
- May 7, 20268-K Results of operations45
- Apr 1, 20268-K Executive or director change46
- Mar 12, 20268-K Regulation FD disclosure47
- Mar 5, 20268-K Entered a material agreement; Regulation FD disclosure48
- Feb 19, 20268-K Results of operations49
- Jan 13, 20268-K Regulation FD disclosure50
- Nov 6, 20258-K Results of operations51
- Oct 21, 20258-K Other events52
- Oct 6, 20258-K Entered a material agreement; Ended a material agreement; New debt or obligation53
- Sep 2, 2025New chief executive Balazs Fejes becomes CEO16
- Sep 2, 20258-K Executive or director change; Bylaws or fiscal year changed54
- Feb 9, 2012New chief executive Ilya Cantor becomes CEO17
- Jan 24, 2012Went public Listed on NYSE1
- 1993Founded Founded1
Calendar
Coming up
- Nov 5, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $2.45 a share, on Nov 6, 2025.55
When it reported results
- Aug 6, 2026Reported quarterly or annual results43
- May 7, 2026Reported quarterly or annual results45
- Feb 19, 2026Reported quarterly or annual results49
- Nov 6, 2025Reported quarterly or annual results51
- Aug 7, 2025Reported quarterly or annual results56
- May 8, 2025Reported quarterly or annual results57
- Feb 20, 2025Reported quarterly or annual results58
- Nov 7, 2024Reported quarterly or annual results59
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
439 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 46 major events, 297 insider forms, 33 large holders, 43 other. The latest 20:
- Sep 3, 20264 EDGAR
- Aug 13, 2026SCHEDULE 13G/A EDGAR
- Aug 12, 2026SCHEDULE 13G/A EDGAR
- Aug 6, 202610-Q EDGAR
- Aug 6, 20268-K EDGAR
- Aug 6, 2026S-8 EDGAR
- Aug 6, 2026S-8 EDGAR
- Jul 31, 2026SCHEDULE 13G/A EDGAR
- Jul 8, 2026SCHEDULE 13G/A EDGAR
- Jul 8, 2026SCHEDULE 13G/A EDGAR
- May 26, 20268-K EDGAR
- May 22, 20264 EDGAR
- May 22, 20264 EDGAR
- May 22, 20264 EDGAR
- May 22, 20264 EDGAR
- May 22, 20264 EDGAR
- May 22, 20264 EDGAR
- May 22, 20264 EDGAR
- May 22, 20264 EDGAR
- May 22, 20264 EDGAR
The 439 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
75 open-market trades by officers, directors and large owners since October 2021: 22 buys and 53 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Apr 30, 2026 | Rockwell EdwardSVP/Chief Legal Officer | Buy | 78 | $96.71 | $7.5K | Form 4 |
| Apr 30, 2026 | Dvorkin ViktarChief Deliv Off, EVP, Americas | Buy | 78 | $96.71 | $7.5K | Form 4 |
| Apr 30, 2026 | Abrahams Gary CVP, Corporate Controller, PAO | Buy | 78 | $96.71 | $7.5K | Form 4 |
| Apr 30, 2026 | Peterson Jason D.Chief Financial Officer | Buy | 78 | $96.71 | $7.5K | Form 4 |
| Apr 30, 2026 | Solomon Lawrence FSVP/Chief People Officer | Buy | 78 | $96.71 | $7.5K | Form 4 |
| Apr 30, 2026 | Fejes BalazsCEO, President, Director | Buy | 78 | $96.71 | $7.5K | Form 4 |
| Dec 10, 2025 | Shnayder BorisSVP/Co-Head of Global Business | Sale | 5,000 | $207.00 | $1.0M | Form 4 |
| Nov 17, 2025 | Abrahams Gary CVP, Corporate Controller, PAO | Sale | 600 | $179.29 | $107.6K | Form 4 |
| Nov 13, 2025 | Dvorkin ViktarChief Deliv Off, EVP, Americas | Sale | 2,500 | $181.80 | $454.5K | Form 4 |
| Oct 31, 2025 | Rockwell EdwardSVP/Chief Legal Officer | Buy | 56 | $134.69 | $7.5K | Form 4 |
| Oct 31, 2025 | Dvorkin ViktarChief Deliv Off, EVP, Americas | Buy | 56 | $134.69 | $7.5K | Form 4 |
| Oct 31, 2025 | Abrahams Gary CVP, Corporate Controller, PAO | Buy | 56 | $134.69 | $7.5K | Form 4 |
| Oct 31, 2025 | Peterson Jason D.Chief Financial Officer | Buy | 56 | $134.69 | $7.5K | Form 4 |
| Oct 31, 2025 | Solomon Lawrence FSVP/Chief People Officer | Buy | 56 | $134.69 | $7.5K | Form 4 |
| Oct 31, 2025 | Shnayder BorisSVP/Co-Head of Global Business | Buy | 56 | $134.69 | $7.5K | Form 4 |
| Oct 31, 2025 | Fejes BalazsCEO, President, Director | Buy | 56 | $134.69 | $7.5K | Form 4 |
| Oct 21, 2025 | Yezhkov SergeySVP/Co-Head of Global Business | Sale | 1,511 | $150.27 | $227.1K | Form 4 |
| Oct 2, 2025 | Yezhkov SergeySVP/Co-Head of Global Business | Sale | 10,079 | $150.86 | $1.5M | Form 4 |
| Oct 2, 2025 | Yezhkov SergeySVP/Co-Head of Global Business | Sale | 10,079 | $150.86 | $1.5M | Form 4 |
| May 22, 2025 | Shnayder BorisSVP/Co-Head of Global Business | Sale | 10,500 | $183.97 | $1.9M | Form 4 |
All 75 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- InvescoSCHEDULE 13G/A, 3 filings May 9, 2025 to Aug 13, 202660
- Capital World InvestorsSCHEDULE 13G/A, 4 filings Feb 13, 2026 to Aug 12, 202661
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G/A, 2 filings Apr 29, 2026 to Jul 31, 202662
- Ameriprise FinancialSCHEDULE 13G/A, 2 filings May 15, 2026 to Jul 8, 202663
- BlackRockSCHEDULE 13G/A, 5 filings Feb 3, 2022 to Jul 8, 202664
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 202665
- VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Jan 10, 2022 to Mar 26, 202666
- Capital Research Global InvestorsSC 13G/A, 4 filings Apr 8, 2022 to Oct 7, 202467
- AllianceBernsteinSC 13G/A, 2 filings Feb 14, 2023 to Feb 14, 202468
- WCM INVESTMENT MANAGEMENT, LLCSC 13G/A, 3 filings Feb 10, 2022 to Jan 30, 202469
- Morgan StanleySC 13G/A, 2 filings Feb 11, 2022 to Apr 7, 202270
- JPMorgan ChaseSC 13G/A, 1 filing Jan 5, 202271
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Arkadiy DobkinExecutive Chair | 65 | $850.0K | $8.1M72 |
| 2025 | Balazs FejesPresident and Chief Executive Officer | 51 | $756.3K | $5.2M72 |
| 2025 | Jason PetersonSenior Vice President, Chief Financial Officer and Treasurer | 63 | $600.0K | $4.2M72 |
| 2025 | Larry SolomonSenior Vice President, Chief People Officer and Head of Operations | 61 | $475.0K | $2.9M72 |
| 2025 | Viktar DvorkinSenior Vice President, Global Head of Engineering, Cloud and Enterprise Platforms | 53 | $475.0K | $2.9M72 |
| 2025 | Elaina ShekhterSenior Vice President, Chief Strategy and Transformation Officer | 56 | $425.0K | $2.3M72 |
| 2024 | Arkadiy DobkinExecutive Chair | 65 | $850.0K | $9.0M72 |
| 2024 | Balazs FejesPresident and Chief Executive Officer | 51 | $2.4M | $5.0M72 |
| 2024 | Jason PetersonSenior Vice President, Chief Financial Officer and Treasurer | 63 | $600.0K | $4.9M72 |
| 2024 | Larry SolomonSenior Vice President, Chief People Officer and Head of Operations | 61 | $475.0K | $3.4M72 |
| 2024 | Viktar DvorkinSenior Vice President, Global Head of Engineering, Cloud and Enterprise Platforms | 53 | $475.0K | $3.4M72 |
| 2023 | Arkadiy DobkinExecutive Chair | 65 | $812.5K | $7.5M72 |
| 2023 | Jason PetersonSenior Vice President, Chief Financial Officer and Treasurer | 63 | $525.0K | $6.8M72 |
| 2023 | Balazs FejesPresident and Chief Executive Officer | 51 | $1.5M | $3.9M72 |
| 2023 | Viktar DvorkinSenior Vice President, Global Head of Engineering, Cloud and Enterprise Platforms | 53 | $456.2K | $2.7M72 |
| 2023 | Larry SolomonSenior Vice President, Chief People Officer and Head of Operations | 61 | $456.2K | $2.7M72 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 6,637,475 | $526.7M | 0.0% | +2,548,891 |
| Ameriprise Financial Inc | 5,459,505 | $434.0M | 0.1% | +1,676,208 |
| Capital World Investors | 4,825,040 | $382.9M | 0.0% | −2,015,102 |
| Vanguard Portfolio Management LLC | 3,466,590 | $275.1M | 0.0% | +508,897 |
| Invesco Ltd. | 2,410,977 | $191.3M | 0.0% | −1,967,927 |
| Vanguard Capital Management LLC | 2,275,391 | $180.6M | 0.0% | −1,188,548 |
| State Street Corp | 1,956,089 | $155.2M | 0.0% | −277,105 |
| Dimensional Fund Advisors LP | 1,648,593 | $130.8M | 0.0% | +579,309 |
| Citadel Advisors LLC | 1,568,576 | $124.5M | 0.1% | +1,484,718 |
| Aikya Investment Management Ltd | 1,365,913 | $108.4M | 31.8% | +455,298 |
| Morgan Stanley | 1,249,137 | $99.1M | 0.0% | +130,347 |
| Brandes Investment Partners, LP | 1,173,823 | $93.1M | 0.7% | −151,231 |
| Geode Capital Management, LLC | 1,101,476 | $87.4M | 0.0% | −514,398 |
| UBS Group AG | 968,340 | $76.8M | 0.0% | +391,061 |
| Millennium Management LLC | 966,015 | $76.7M | 0.1% | +946,345 |
| Massachusetts Financial Services Co /ma/ | 778,355 | $62.0M | 0.0% | −709,192 |
| Goldman Sachs Group Inc | 747,092 | $59.3M | 0.0% | +587,550 |
| FIL Ltd | 692,670 | $55.0M | 0.0% | −2,840 |
| Norges Bank | 676,395 | $53.7M | 0.0% | New |
| Arrowstreet Capital, Limited Partnership | 666,497 | $52.9M | 0.0% | +317,911 |
| Bank Of America Corp /de/ | 662,019 | $52.5M | 0.0% | +37,320 |
| Point72 Asset Management, L.P. | 595,177 | $47.2M | 0.1% | +314,359 |
| Greenhaven Associates Inc | 587,300 | $46.6M | 0.5% | New |
| Assenagon Asset Management S.A. | 585,084 | $46.4M | 0.0% | +567,465 |
| Citigroup Inc | 486,908 | $38.6M | 0.0% | +266,248 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
14 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Apr 14, 2026 | Gilbert Ray Cisneros, Jr.Democratic, House | Sale | $1,001 - $15,000 | +15.2% | Report |
| Mar 13, 2026 | Gilbert Ray Cisneros, Jr.Democratic, House | Buy | $1,001 - $15,000 | −27.4% | Report |
| Aug 4, 2025 | Lisa C. McClainRepublican, House | Sale | $1,001 - $15,000 | +42.6% | Report |
| Jul 22, 2025 | Lisa C. McClainRepublican, House | Buy | $1,001 - $15,000 | −50.3% | Report |
| May 12, 2025 | Jefferson ShreveRepublican, House | Sale | $15,001 - $50,000 | +66.9% | Report |
| Mar 31, 2025 | Jefferson ShreveRepublican, House | Buy | $15,001 - $50,000 | −65.6% | Report |
| Feb 24, 2025 | Jefferson ShreveRepublican, House | Sale | $15,001 - $50,000 | +70.3% | Report |
| Jul 12, 2023 | Daniel S. GoldmanDemocratic, House | Sale | $15,001 - $50,000 | +120.7% | Report |
| Apr 19, 2023 | Lois FrankelDemocratic, House | Partial sale | $1,001 - $15,000 | +144.1% | Report |
| Apr 10, 2023 | Daniel S. GoldmanDemocratic, House | Buy | $15,001 - $50,000 | −146.4% | Report |
| Sep 19, 2022 | Lois FrankelDemocratic, House | Partial sale | $1,001 - $15,000 | +168.3% | Report |
| Dec 9, 2021 | Lois FrankelDemocratic, House | Partial sale | $1,001 - $15,000 | +148.0% | Report |
| Feb 18, 2021 | Lois FrankelDemocratic, House | Partial sale | $1,001 - $15,000 | +165.2% | Report |
| Jun 9, 2020 | Lois FrankelDemocratic, House | Partial sale | $1,001 - $15,000 | +188.6% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How EPAM Systems is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGAREPAM Systems, Inc.2
- CIK0001352010
- Employer ID (EIN)22-35361047
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company7
- Incorporated inDelaware7
- Fiscal year endsDecember 312
- Industry code (SIC)7371 Services-Computer Programming Services2
- SEC reviewing officeOffice of Technology, Division of Corporation Finance2
- Business address41 University Drive, Suite 202, Newtown, PA 189402
- Phone(267) 759-90002
- Shares outstanding51,586,981 as of Jul 31, 202614
- Public float$9.6B as of Jun 30, 20257
- AuditorDELOITTE & TOUCHE LLP, Philadelphia, Pennsylvania PCAOB ID 34; it also attests to the company’s internal control over financial reporting7
- On EDGAR sinceJan 31, 20062
- Filings1,304 in all: 4 (855), 8-K (121), SC 13G/A (55), 10-Q (44), 5 (29), 3 (28), 4/A (23), 144 (22)2
All 33 form types
DEFA14A (19), 10-K (15), DEF 14A (14), SC 13G (14), SCHEDULE 13G/A (10), UPLOAD (8), S-1/A (6), S-8 (6), 424B5 (5), CORRESP (5), SCHEDULE 13G (5), S-3ASR (3), ARS (2), EFFECT (2), PRE 14A (2), REGDEX (2), 144/A (1), 3/A (1), 424B4 (1), 8-A12B (1), 8-K/A (1), CERTNYS (1), D (1), S-1 (1), S-3 (1)
- Latest filingsAnnual report (10-K) Feb 26, 2026
Quarterly report (10-Q) Aug 6, 2026
Proxy statement (DEF 14A) Apr 6, 2026
Latest 8-K (8-K) Aug 6, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.001 per share | EPAM | New York Stock Exchange |
From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).7
Risk factors and legal proceedings
The risks EPAM Systems names in Item 1A of its 10-K filed Feb 26, 2026: 36 risks under these headings, as written.7
- Risks Related to Geopolitical Events
- Instability in geographies where we have significant operations and personnel or where we derive substantial amounts of revenue could have a material adverse effect on our business, clients, service delivery, and financial results.
- The invasion of Ukraine and the resulting war has had and could continue to have a material adverse effect on our personnel, business, and finances.
- Risks Related to Artificial Intelligence
- If we are unable to keep pace with the adoption and use of AI technology in our business and effectively implement AI in our workforce planning and deployment, we could become less competitive in our industry.
- Increased Adoption of AI-Based Software Tools May Reduce Demand for Our Services
- Risks Related to Our Personnel and Growth
- We may be unable to effectively manage our growth or achieve anticipated growth, which could place significant strain on our management, systems, resources, and results of operations.
- We must successfully attract, hire, train and retain qualified personnel to service our clients’ projects and we must productively utilize those personnel to remain profitable.
- There may be adverse tax and employment law consequences if the independent contractor status of some of our personnel or the exempt status of our employees is successfully challenged.
- Our success depends substantially on the continuing efforts of our senior executives and other key personnel, and our business may be severely disrupted if we lose their services and our succession planning efforts are ineffective.
- If we fail to integrate or manage acquired companies efficiently and effectively, or if acquisitions do not perform to our expectations individually or in the aggregate, our overall profitability and growth plans could be materially adversely affected.
The other 27 risks
- Risks Related to Our Operations
- Increases in wages, equity compensation, and other compensation expenses could limit our competitive advantage, increase our costs, and result in dilution to our stockholders.
- Our operations in emerging markets subject us to greater economic, financial, and banking risks than we would face in more developed markets.
- If we are unable to compete successfully against others in our industry, pricing pressures or loss of market share could have a material adverse effect on our business.
- Complying with a wide variety of legal requirements in the jurisdictions where we operate can create risks to our operations and financial condition, including liquidation of the subsidiaries that operate some of our major delivery centers.
- The focus on environmental, social and governance topics, including commitments and disclosures we have made and may need to make, may result in additional operational costs and negative reputational impacts.
- Our operating results may be negatively impacted by the loss of certain tax benefits provided to companies in our industry by the governments of Belarus, Poland, and other countries.
- Risks Related to Regulation and Legislation
- Existing policy and substantial changes to fiscal, political, regulatory and other federal policies may adversely affect our business and financial results.
- We are subject to laws and regulations in the U.S. and other countries in which we operate, including export restrictions, economic sanctions, and anti-bribery and anti-corruption laws. Compliance with these laws requires significant resources and non-compliance may result in civil or criminal penalties and other remedial measures.
- Risks Related to Our Industry and Clients
- We generally do not have long-term commitments from our clients, our clients may terminate contracts before completion or choose not to renew contracts, and we are not guaranteed payment for services. Loss of business or non-payment from significant clients could materially affect our results of operations.
- Our revenues are highly dependent on a limited number of industries, and any decrease in demand for outsourced services in these industries could reduce our revenues and adversely affect our results of operations.
- If our pricing structures are based on inaccurate expectations and assumptions regarding the cost and complexity of performing our work, or if we are not able to maintain favorable pricing for our services, then our contracts could be unprofitable or we may not meet our profitability projections.
- There is a long selling and implementation cycle for our services that require us to make significant resource commitments prior to realizing revenues for those services.
- If we are unable to adapt to rapidly changing technologies, methodologies and evolving industry standards, we may lose clients and our business could be materially adversely affected.
- If we cause, or are perceived to have caused, disruptions to our clients’ businesses, provide inadequate service, or breach contractual obligations, our clients may have claims for substantial damages against us and/or our reputation may be damaged. Our insurance coverage may be inadequate to protect us against such claims.
- A significant failure in our systems, telecommunications or IT infrastructure could harm our service model, which could result in a reduction of our revenues and otherwise disrupt our business.
- Our ability to generate and retain business could depend on our reputation in the marketplace.
- We may not be able to prevent unauthorized use of our intellectual property, and our intellectual property rights may not be adequate to protect our business and competitive position.
- Intellectual property infringement claims are time-consuming and costly to defend. If we fail to defend ourselves against such claims, we may lose significant intellectual property rights and may be unable to continue providing our existing services.
- Risks Related to Information Security and Data Protection
- Security breaches and other disruptions to our network security that compromise our information expose us to liability and cause our business and reputation to suffer.
- Development and deployment of measures to protect our information security or that of our clients may be inadequate and could adversely affect our results of operations.
- Changes in privacy and data protection regulations could expose us to risks of noncompliance and costs associated with compliance.
- Undetected software design defects, errors or failures may result in loss of business or in liabilities that could materially adversely affect our business.
- General Risk Factors
- Our stock price is volatile.
- We may need additional capital, and a failure to raise additional capital on terms favorable to us, or at all, could limit our ability to grow our business and develop or enhance our service offerings to respond to market demand or competitive challenges.
- Our hedging program is subject to counterparty default risk.
- War, terrorism, other acts of violence or natural or man-made disasters may affect the markets in which we operate, our clients, and our service delivery.
- Our effective tax rate could be materially adversely affected by several factors.
Legal proceedings
From time to time, we are involved in litigation and claims arising out of our business and operations in the normal course of business. We are not currently a party to any material legal proceeding, nor are we aware of any material legal or governmental proceedings pending or contemplated to be brought against us.
The opening of Item 3, Legal Proceedings.7
Links
- Websitewww.epam.com1
- X (Twitter)x.com/EPAMSystems1
- Facebookwww.facebook.com/EPAM.Global1
- YouTubewww.youtube.com/channel/UCAMBuFovq-_A47Z-MNMenVg1
- LinkedInwww.linkedin.com/company/epam-systems1
- More imagesWikimedia Commons
- WikidataQ1275613
- SEC EDGARCIK 1352010
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataEPAM Systems on Wikidata
- 2SEC EDGAREPAM Systems filings on SEC EDGAR
- 3
- 4Wikimedia CommonsEPAM Systems logo by EPAM Systems, Public domain
- 5SEC EDGAREPAM Systems filings on SEC EDGAR
- 6
- 7
- 8SEC EDGAREPAM Systems 10-K for fiscal 2025
- 9SEC EDGAREPAM Systems 10-K for fiscal 2019
- 10SEC EDGAREPAM Systems 10-K for fiscal 2020
- 11SEC EDGAREPAM Systems 10-K for fiscal 2021
- 12SEC EDGAREPAM Systems 10-K for fiscal 2022
- 13SEC EDGAREPAM Systems 10-Q for fiscal 2026
- 14SEC EDGAREPAM Systems 10-Q for fiscal 2026
- 15SEC EDGAREPAM Systems 10-K for fiscal 2019
- 16
- 17SEC EDGARIlya Cantor, Chief executive officer
- 18
- 19SEC EDGARIlya Cantor, Chief financial officer
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- 29SEC EDGARDeanne Aguirre, Board member
- 30SEC EDGARChandra McMahon, Board member
- 31SEC EDGAREugene Roman, Board member
- 32SEC EDGARHelen L. Shan, Board member
- 33SEC EDGARJill Smart, Board member
- 34SEC EDGARPeter Kuerpick, Board member
- 35
- 36SEC EDGARAndrew Guff, Board member
- 37SEC EDGARDonald Spencer, Board member
- 38SEC EDGARRobert E. Segert, Board member
- 39SEC EDGARRonald P. Vargo, Board member
- 40SEC EDGARRoss Goodhart, Board member
- 41SEC EDGAREdward Rockwell, General counsel
- 42SEC EDGARGinger Mosier, General counsel
- 43SEC EDGARResults of operations
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- 45SEC EDGARResults of operations
- 46SEC EDGARExecutive or director change
- 47SEC EDGARRegulation FD disclosure
- 48
- 49SEC EDGARResults of operations
- 50SEC EDGARRegulation FD disclosure
- 51SEC EDGARResults of operations
- 52SEC EDGAROther events
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- 55NasdaqNasdaq calendar
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