NEWTOWN, PA — EPAM Systems, Inc. (NYSE: EPAM) reported strong first-quarter 2025 financial results, posting revenue of $1.302 billion, an 11.7% increase year-over-year. The company also raised its full-year revenue growth forecast, now expecting a year-over-year growth rate between 11.5% and 14.5%, driven by organic constant currency revenue performance and revised foreign exchange assumptions.
“We reported strong first quarter results amidst a dynamic macroeconomic landscape, which highlights our unique differentiation in supporting our clients through their transformation journeys,” said Arkadiy Dobkin, CEO and President of EPAM Systems. “By staying anchored in engineering excellence, disciplined execution and AI-native innovation, we’ve continued to build sequential momentum and deliver year-over-year organic growth.”
Key highlights for Q1 2025 include GAAP income from operations at $99.3 million, representing 7.6% of revenues, and non-GAAP income from operations at $175.8 million or 13.5% of revenues. The company reported GAAP diluted EPS of $1.28, a decline from $1.97 in Q1 2024, while non-GAAP diluted EPS reached $2.41, slightly down from $2.46 a year earlier.
Despite these mixed metrics, EPAM continues to focus on investments, including the repurchase of 796,000 shares of common stock for $160 million during the quarter. The company closed the quarter with $1.179 billion in cash and cash equivalents, though down from $1.290 billion at the end of 2024.
Looking forward, EPAM anticipates second-quarter revenues between $1.325 billion and $1.340 billion, reflecting a midpoint growth of 16.2% year-over-year. For the full year, GAAP diluted EPS is expected to range from $6.78 to $7.03, while non-GAAP diluted EPS is projected between $10.70 and $10.95.
EPAM’s updated outlook underscores both confidence in its strategic initiatives and its ability to adapt to an evolving business environment, reinforcing its commitment to delivering value through engineering excellence and AI-driven solutions.
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