Every 10-Q that EPAM SYSTEMS, INC. (EPAM) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow EPAM and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full EPAM filings page.
EPAM Systems, Inc. reported Q2 2026 revenue of $1.415 billion, up 4.5% year over year, and first-half revenue of $2.815 billion, a 6.0% increase from 2025. Income from operations rose to $152.2 million for the quarter and $269.0 million for the first half, expanding margins to 10.8% and 9.6% of revenue.
Net income was $102.979 million for Q2 and $185.500 million year to date, with diluted EPS increasing to $1.97 for the quarter and $3.49 for the first six months from $1.56 and $2.84 a year earlier, helped by operating leverage and share repurchases under the $1,000 million 2025 repurchase program, including a $300.0 million accelerated share repurchase.
Cash, cash equivalents and restricted cash declined to $794,287 as of June 30 2026 from $1,301,377 at the beginning of the period, as $38,784 was used in operating activities and $425,349 in financing activities, largely share repurchases. The company has $25,000 of debt outstanding against $700,000 of revolving capacity and continues to manage geopolitical exposure in Ukraine and Belarus while honoring its $100.0 million humanitarian commitment, with $4.6 million remaining to be expensed.
EPAM Systems, Inc. delivered higher first‑quarter 2026 results, with revenues of $1.400 billion, up 7.6% from $1.302 billion a year earlier, driven by improving demand and favorable foreign exchange.
Income from operations rose to $116.8 million, lifting the operating margin to 8.3% from 7.6%. Net income increased to $82.5 million, and diluted earnings per share grew to $1.52 from $1.28, helped by both better profitability and fewer shares outstanding following repurchases.
The Americas segment grew modestly, while Europe posted double‑digit revenue growth, aided by currency movements. EPAM continued its $100 million Ukraine humanitarian commitment and cost optimization programs. Despite stronger earnings, operating cash flow was $(36.4) million, reflecting higher variable compensation payments, while the company ended the quarter with $1.037 billion in cash and $165.0 million of debt, including borrowings used to fund a $300 million accelerated share repurchase.
EPAM Systems filed its Q3 2025 report, showing higher sales but lower profit year over year. Revenue for the quarter rose to $1,394.4 million from $1,167.5 million, while diluted EPS was $1.91 versus $2.37 a year ago as cost of revenues and operating expenses increased. Nine‑month revenue reached $4,049.5 million with net income of $268.3 million.
EPAM ended the quarter with $1,239.1 million in cash and cash equivalents and $25.0 million of borrowings outstanding. Operating cash flow for the first nine months was $372.0 million, and the company spent $438.6 million on share repurchases. Shares outstanding were 55.2 million as of October 31, 2025.
The company updated liquidity with a new revolving credit facility executed on October 3, 2025, maturing in 2030, with $700.0 million capacity and potential upsize to $1.2 billion. EPAM continued integrating NEORIS and First Derivative and completed a small 2025 acquisition (purchase price $8.8 million) adding customer relationships. The 2025 Cost Optimization Program is underway with additional ~$14.0 million of charges expected and completion targeted by the end of Q1 2026. Under its $100 million humanitarian commitment, EPAM expensed $4.0 million in Q3 and $12.2 million year to date, with $12.5 million remaining.