{"schema_version":"secwatch.filing_event.v1","accession":"0001352010-23-000047","form_type":"8-K","ticker":"EPAM","cik":"0001352010","company_name":"EPAM Systems, Inc.","filed_at":"2023-11-02T23:59:59+00:00","discovered_at":"2026-05-14T18:03:28.729478+00:00","generated_at":"2026-06-08T23:39:28.747128+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"EPAM Q3 revenue $1.152B (-6.1% YoY); GAAP EPS $1.65, initiates cost optimization program","bullets":["GAAP diluted EPS $1.65 (down $0.98 YoY); Non-GAAP diluted EPS $2.73 (down $0.37 YoY).","Revenue $1.152B, down 6.1% YoY; organic constant currency decline 7.8% excluding Russia exit.","Cost Optimization Program initiated, targeting >$100M annual savings; incurred $7.1M in Q3.","Full-year guidance narrowed: rev $4.663-4.673B; GAAP EPS $7.07-7.15; Non-GAAP EPS raised to $10.31-10.39.","Q4 outlook: revenue $1.130-1.140B; GAAP EPS $1.67-1.75; Non-GAAP EPS $2.47-2.55."],"urls":{"canonical":"https://secwatch.observer/filing/0001352010-23-000047","json":"https://secwatch.observer/filing/0001352010-23-000047.json","markdown":"https://secwatch.observer/filing/0001352010-23-000047.md","text":"https://secwatch.observer/filing/0001352010-23-000047.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1352010/000135201023000047/0001352010-23-000047-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1352010/000135201023000047/epam-20231102.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T23:39:28.747128+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":"90e190aaca3aa1913a23bae0c83e7e161d5676a1","claim":"EPAM Systems, Inc. updated its the full year guidance (reaffirmed).","evidence_excerpt":"For the full year, EPAM narrows expected revenues to be in the range of $4.663 billion to $4.673 billion, narrows expected GAAP Diluted EPS to be in the range of $7.07 to $7.15 and increases expected Non-GAAP Diluted EPS to now be in the range of $10.31 to $10.39","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1352010/000135201023000047/0001352010-23-000047-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the full year"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"948e8c54adf01a3245b83809fae8548f65452744","claim":"EPAM Systems, Inc. updated its the fourth quarter guidance (reaffirmed).","evidence_excerpt":"For the fourth quarter, EPAM expects revenues to be in the range of $1.130 billion to $1.140 billion, GAAP Diluted EPS to be in the range of $1.67 to $1.75 and Non-GAAP Diluted EPS to be in the range of $2.47 to $2.55","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1352010/000135201023000047/0001352010-23-000047-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fourth quarter"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"b7401d5c289a2cba724762daa1718a1e31f45f7e","claim":"EPAM Systems, Inc. reported the third quarter ended September 30, 2023 results: revenue $1.152 billion, EPS $1.65. Guidance reaffirmed.","evidence_excerpt":"stated by specific reference in such a filing. --- EX-99.1 (EX-99.1) --- EPAM Reports Results for Third Quarter 2023 and Updates Full Year Outlook • Third quarter revenues of $1.152 billion, down 6.1% year-over-year • GAAP Income from Operations was 9.9% of revenues and Non-GAAP Income from Operations was 17.0% of revenues for the third quarter • Third quarter GAAP","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1352010/000135201023000047/0001352010-23-000047-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the third quarter ended September 30, 2023"},{"label":"Revenue","value":"$1.152 billion"},{"label":"EPS","value":"$1.65"},{"label":"Guidance","value":"reaffirmed"},{"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"}