---
schema_version: "secwatch.filing_event.v1"
accession: "0001352010-23-000029"
form_type: "8-K"
ticker: "EPAM"
cik: "0001352010"
company_name: "EPAM Systems, Inc."
filed_at: "2023-06-05T23:59:59+00:00"
generated_at: "2026-06-14T07:12:07.370898+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.78
calibrated_materiality_score: 0.78
confidence: "high"
source: SEC EDGAR
---

# EPAM cuts Q2 and FY 2023 guidance on demand softness; revenue now seen down 2%

## Summary
- Full year revenue guidance reduced to $4.650B–$4.800B, a 2% YoY decline at midpoint.
- Q2 revenue expected $1.160B–$1.170B, down 2.5% YoY at midpoint.
- Non-GAAP diluted EPS now $9.80–$10.20 for FY (was previously higher).
- CEO cites slower pipeline conversions and further client caution in IT services 'build' segment.
- New logo acquisition pace and customer retention remain strong, per management.

## SEC filing metadata
- accession: 0001352010-23-000029
- form_type: 8-K
- ticker: EPAM
- cik: 0001352010
- company_name: EPAM Systems, Inc.
- filed_at: 2023-06-05T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.78
- calibrated_materiality_score: 0.78
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1352010/000135201023000029/0001352010-23-000029-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1352010/000135201023000029/epam-20230605.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001352010-23-000029
- JSON: https://secwatch.observer/filing/0001352010-23-000029.json
- Plain text: https://secwatch.observer/filing/0001352010-23-000029.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.