Revenue: As of FY2026 Q1, the actual value is USD 1.4 B, beating the estimate of USD 1.394 B.EPS: As of FY2026 Q1, the actual value is USD 1.52, beating the estimate of USD 1.4182.EBIT: As of FY2026 Q1, the actual value is USD 116.77 M.<h4>First Quarter 2026 Financial Highlights</h4><h5>Revenue</h5><ul><li>Total Revenues: EPAM Systems, Inc. reported revenues of $1.400 billion for the first quarter of 2026, representing a 7.6% year-over-year increase from $1.301 billion in the first quarter of 2025. On an organic constant currency basis, revenues increased by 3.7% compared to the first quarter of 2025.</li></ul><h5>Operational Metrics</h5><ul><li>GAAP Income from Operations: For the first quarter of 2026, GAAP income from operations was $116.8 million, an increase of 17.6% compared to $99.3 million in the first quarter of 2025.</li><li>Non-GAAP Income from Operations: Non-GAAP income from operations reached $200.7 million, up 14.2% from $175.8 million in the first quarter of 2025.</li><li>GAAP Operating Margin: The GAAP operating margin was 8.3% of revenues for the first quarter of 2026, compared to 7.6% in the first quarter of 2025.</li><li>Non-GAAP Operating Margin: The non-GAAP operating margin was 14.3% of revenues for the first quarter of 2026, up from 13.5% in the first quarter of 2025.</li><li>Net Income: GAAP net income was $82.5 million for the first quarter of 2026, compared to $73.5 million for the first quarter of 2025.</li><li>Cost of Revenues (exclusive of depreciation and amortization): $1,012.1 million for Q1 2026, up from $952.0 million for Q1 2025.</li><li>Selling, General and Administrative Expenses: $239.7 million for Q1 2026, compared to $218.9 million for Q1 2025.</li><li>Depreciation and Amortization Expense: $31.5 million for Q1 2026, slightly up from $31.4 million for Q1 2025.</li><li>Interest and Other Income, Net: $1.6 million for Q1 2026, down from $5.8 million for Q1 2025.</li><li>Foreign Exchange Gain (Loss): A gain of $2.3 million for Q1 2026, compared to a loss of - $10.7 million for Q1 2025.</li><li>Provision for Income Taxes: $38.1 million for Q1 2026, compared to $20.9 million for Q1 2025.</li></ul><h5>Cash Flow and Balance Sheet</h5><ul><li>Cash Flow from Operating Activities: Cash used in operating activities was - $36.4 million for the first three months of 2026, in contrast to cash provided by operating activities of $24.2 million for the first three months of 2025.</li><li>Cash, Cash Equivalents and Restricted Cash: Totaled $1.043 billion as of March 31, 2026, a 19.9% decrease from $1.301 billion as of December 31, 2025.</li><li>Total Assets: $4.703 billion as of March 31, 2026, down from $4.902 billion as of December 31, 2025.</li><li>Total Liabilities: $1.272 billion as of March 31, 2026, up from $1.224 billion as of December 31, 2025.</li><li>Total EPAM Systems, Inc. Stockholders’ Equity: $3.431 billion as of March 31, 2026, compared to $3.677 billion as of December 31, 2025.</li></ul><h5>Unique Metrics</h5><ul><li>Share Repurchases: EPAM Systems, Inc. spent $324 million on share repurchases during the first quarter of 2026, which included $300 million for an accelerated share repurchase (ASR).</li><li>Headcount: Total headcount was approximately 62,750 as of March 31, 2026, with approximately 56,500 delivery professionals, a 0.2% decrease from December 31, 2025.</li></ul><h4>Outlook / Guidance</h4><ul><li>For the full year 2026, EPAM Systems, Inc. anticipates a revenue growth rate between 4.0% and 6.5%, with an organic constant currency growth rate expected between 2.5% and 5.0%. The company projects GAAP income from operations to be 10% to 11% of revenues and non-GAAP income from operations to be 15% to 16% of revenues.</li><li>For the second quarter of 2026, revenues are forecasted to be in the range of $1.400 billion to $1.415 billion, implying a 4.0% year-over-year growth at the midpoint. GAAP income from operations is expected to be 9% to 10% of revenues, and non-GAAP income from operations is projected to be 15% to 16% of revenues.</li></ul>

Epam | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 1.4 B