EPAM revenue climbs past $1.4 billion

• EPAM reported Q2 2026 revenue of $1.415 billion, while non-GAAP diluted EPS increased 22.0% to $3.38.
• EPAM shares fell 21.7% to $86.01 in premarket trading following the results.
• The company reduced its full-year revenue-growth forecast but slightly increased its adjusted EPS outlook.

EPAM Systems (NYSE:EPAM) reported Q2 2026 revenue of $1.415 billion, up 4.5%, as both reported operating margins increased.

Revenue rose from $1.353 billion, while GAAP operating income increased 20.4% to $152.2 million and non-GAAP operating income rose 14.7% to $232.7 million.

EPAM spent $85 million on Q2 share repurchases and ended June with $794.3 million in cash, cash equivalents and restricted cash.

Elsewhere, EPAM cut its 2026 revenue-growth outlook to 3.2%–4.2%.

The company forecasts Q3 revenue of $1.410–$1.425 billion, representing 1.7% year-over-year growth at the range’s midpoint.

EPAM had approximately 62,850 employees, including 56,650 delivery professionals, as it continued expanding its AI-focused engineering and consulting strategy.