{"schema_version":"secwatch.filing_event.v1","accession":"0001352010-23-000006","form_type":"8-K","ticker":"EPAM","cik":"0001352010","company_name":"EPAM Systems, Inc.","filed_at":"2023-02-16T23:59:59+00:00","discovered_at":"2026-05-14T18:03:44.581643+00:00","generated_at":"2026-06-19T09:01:05.730536+00:00","sec_items":["2.02","8.01","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"EPAM Q4 revenue $1.23B (+11.2% YoY), non-GAAP EPS $2.93; $500M buyback; FY23 rev at least $5.25B","bullets":["Q4 revenue $1.231B (+11.2% YoY, constant currency +14.4%); GAAP EPS $2.61 (+8.7%), non-GAAP EPS $2.93 (+6.2%).","FY22 revenue $4.825B (+28.4% YoY); GAAP EPS $7.09 (-13%), non-GAAP EPS $10.90 (+20.4%).","Board approved $500M share repurchase program with 24-month term.","FY23 revenue guidance at least $5.25B (>9% growth); Q1 revenue $1.20-1.21B; non-GAAP EPS $11.15-$11.35.","Russian exit negatively impacted Q4 revenue growth by 4.4% (FY: 3.7%); operating cash flow $186M in Q4 vs $285M prior year."],"urls":{"canonical":"https://secwatch.observer/filing/0001352010-23-000006","json":"https://secwatch.observer/filing/0001352010-23-000006.json","markdown":"https://secwatch.observer/filing/0001352010-23-000006.md","text":"https://secwatch.observer/filing/0001352010-23-000006.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1352010/000135201023000006/0001352010-23-000006-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1352010/000135201023000006/epam-20230216.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-19T09:01:05.730536+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2acf79549893828e770239481040816f332dac5c","claim":"EPAM Systems, Inc. reported Fourth quarter ended December 31, 2022 results: revenue $1.231 billion, EPS GAAP Diluted EPS of $2.61.","evidence_excerpt":"Fourth Quarter 2022 • Revenues of $1.231 billion, up 11.2% year-over-year • GAAP Income from Operations was 13.8% of revenues and Non-GAAP Income from Operations was 17.8% of revenues • GAAP Diluted EPS of $2.61, an increase of 8.7%, and Non-GAAP Diluted EPS of $2.93, an increase of 6.2% on a year-over-year basis","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1352010/000135201023000006/0001352010-23-000006-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Fourth quarter ended December 31, 2022"},{"label":"Revenue","value":"$1.231 billion"},{"label":"EPS","value":"GAAP Diluted EPS of $2.61"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"abc7616aacce5a4945bde61c8afa65351dd7e348","claim":"EPAM Systems, Inc. reported Full year 2023 results: revenue at least $5.250 billion, EPS GAAP diluted EPS will be in the range of $8.64 to $8.84 for the year, and non-GAAP diluted EPS will be in the range of $.","evidence_excerpt":"The Company expects revenues will be at least $5.250 billion for 2023 reflecting a year-over-year growth rate of at least 9%. The Company expects foreign currency translation will have a minimal impact on year-over-year reported revenue growth. This guidance reflects negligible contribution from inorganic revenues. Revenue growth will be negatively impacted by approximately 2% as a result of the decision to exit the Russian market; • For the full year, EPAM expects GAAP income from operations to be in the range of 11.5% to 12.5% of revenues and non-GAAP income from operations to be in the range of 15.5% to 16.5% of revenues; • The Company expects its GAAP effective tax rate to be approximately 21% and its non-GAAP effective tax rate to be approximately 23%; and • EPAM expects GAAP diluted EPS will be in the range of $8.64 to $8.84 for the year, and non-GAAP diluted EPS will be in the range of $11.15 to $11.35 for the year. The Company expects weighted average diluted shares outstanding","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1352010/000135201023000006/0001352010-23-000006-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Full year 2023"},{"label":"Revenue","value":"at least $5.250 billion"},{"label":"EPS","value":"GAAP diluted EPS will be in the range of $8.64 to $8.84 for the year, and non-GAAP diluted EPS will be in the range of $"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"eb5219cf9a6205ffedbf4797c382bea97647d418","claim":"EPAM Systems, Inc. reported First quarter 2023 results: revenue in the range of $1.200 billion to $1.210 billion.","evidence_excerpt":"The Company expects revenues will be in the range of $1.200 billion to $1.210 billion for the first quarter reflecting a year-over-year growth rate of approximately 3%, which includes an unfavorable foreign currency translation impact of approximately 2%. Revenue growth on a constant currency basis will be approximately 5%. This guidance reflects negligible contribution from inorganic revenues. Revenue growth will be negatively impacted by approximately 3% as a result of the decision to exit the Russian market; • For the first quarter, EPAM expects GAAP income from operations to be in the range of 9.5% to 10.5% of revenues and non-GAAP income from operations to be in the range of 14.0% to 15.0% of revenues; • The Company expects its GAAP effective tax rate to be approximately 18% and its non-GAAP effective tax rate to be approximately 23%; and • EPAM expects GAAP","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1352010/000135201023000006/0001352010-23-000006-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"First quarter 2023"},{"label":"Revenue","value":"in the range of $1.200 billion to $1.210 billion"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"f3a88e998316a5f8dc4f4925f04a22e886b41b0c","claim":"EPAM Systems, Inc. reported Full year ended December 31, 2022 results: revenue $4.825 billion, EPS GAAP Diluted EPS of $7.09.","evidence_excerpt":"Full Year 2022 • Revenues of $4.825 billion, up 28.4% year-over-year • GAAP Income from Operations was 11.9% of revenues and Non-GAAP Income from Operations was 17.0% of revenues • GAAP Diluted EPS of $7.09, a decrease of 13.0%, and Non-GAAP Diluted EPS of $10.90, an increase of 20.4% on a year-over-year basis","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1352010/000135201023000006/0001352010-23-000006-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Full year ended December 31, 2022"},{"label":"Revenue","value":"$4.825 billion"},{"label":"EPS","value":"GAAP Diluted EPS of $7.09"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}