secwatch.observer — SEC 8-K summary
======================================

Issuer:     EPAM Systems, Inc. (EPAM)
CIK:        0001352010
Form:       8-K
Filed at:   2023-05-05T23:59:59+00:00
Accession:  0001352010-23-000022
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EPAM reports Q1 revenue $1.211B (+3.4% YoY); updates FY2023 outlook with revenue $4.95-5.0B
--------------------------------------------------------------------------------

- Q1 revenue $1.211B, up 3.4% YoY; organic constant currency growth +7.0% excluding Russia exit.
- GAAP diluted EPS $1.73 (+13.8% YoY); Non-GAAP diluted EPS $2.47 (-0.8% YoY).
- Full-year revenue guidance lowered to $4.95B-$5.0B (midpoint ~3% growth); GAAP EPS $8.11-$8.31; Non-GAAP EPS $10.60-$10.80.
- Q2 revenue guidance $1.195B-$1.205B (<1% YoY); GAAP EPS $1.82-$1.90; Non-GAAP EPS $2.38-$2.46.
- Q1 operating cash flow $87.3M vs -$51.8M prior year; cash balance $1.752B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1352010/000135201023000022/0001352010-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1352010/000135201023000022/epam-20230505.htm
  HTML page:      https://secwatch.observer/filing/0001352010-23-000022

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer