{"schema_version":"secwatch.filing_event.v1","accession":"0001352010-24-000003","form_type":"8-K","ticker":"EPAM","cik":"0001352010","company_name":"EPAM Systems, Inc.","filed_at":"2024-02-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:23.925937+00:00","generated_at":"2026-06-06T00:56:11.505135+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"EPAM Q4 revenue down 6% to $1.157B; FY24 revenue growth guidance 1%-4%","bullets":["Q4 2023 revenue $1.157B (-6.0% YoY); GAAP EPS $1.66 (-36.4%); Non-GAAP EPS $2.75 (-6.1%).","Full-year 2023 revenue $4.691B (-2.8% YoY); GAAP EPS $7.06; Non-GAAP EPS $10.59.","FY2024 outlook: revenue growth 1%-4%; Non-GAAP EPS $10.00-$10.40; GAAP EPS $7.20-$7.60.","Q1 2024 revenue guidance $1.155B-$1.165B (-4% YoY at midpoint); Non-GAAP EPS $2.26-$2.34.","Cost Optimization Program incurred $35.1M in FY2023; delivery headcount down 10.4% to ~47,350."],"urls":{"canonical":"https://secwatch.observer/filing/0001352010-24-000003","json":"https://secwatch.observer/filing/0001352010-24-000003.json","markdown":"https://secwatch.observer/filing/0001352010-24-000003.md","text":"https://secwatch.observer/filing/0001352010-24-000003.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1352010/000135201024000003/0001352010-24-000003-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1352010/000135201024000003/epam-20240215.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T00:56:11.505135+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":"6ee04e4b18358a272001bbc9e24562f5453cc870","claim":"EPAM Systems, Inc. reported FY 2023 results: revenue $4.691 billion, EPS $7.06.","evidence_excerpt":"Full Year 2023 • Revenues of $4.691 billion, down 2.8% year-over-year • GAAP Income from Operations was 10.7% of revenues and Non-GAAP Income from Operations was 16.3% of revenues • GAAP Diluted EPS of $7.06, a decrease of 0.4%, and Non-GAAP Diluted EPS of $10.59, a decrease of 2.8% on a year-over-year basis","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1352010/000135201024000003/0001352010-24-000003-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"FY 2023"},{"label":"Revenue","value":"$4.691 billion"},{"label":"EPS","value":"$7.06"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"8a440c3ccbb132537fb540ee1add03e79efc869e","claim":"EPAM Systems, Inc. reported Q1 2024 results: revenue $1.155 billion to $1.165 billion, EPS $1.79 to $1.87. Guidance initiated.","evidence_excerpt":"First Quarter EPAM expects the following for the first quarter: • The Company expects revenues will be in the range of $1.155 billion to $1.165 billion for the first quarter reflecting a year-over-year decline of 4% at the midpoint of the range. The Company expects that foreign currency translation will have a negligible impact on year-over-year revenue decline during the quarter. This guidance also reflects a minimal contribution from inorganic revenues; • For the first quarter, EPAM expects GAAP income from operations to be in the range of 9% to 10% of revenues and non-GAAP income from operations to be in the range of 13.5% to 14.5% of revenues; • The Company expects its GAAP effective tax rate to be approximately 11% and its non-GAAP effective tax rate to be approximately 24%; and • EPAM expects GAAP diluted EPS will be in the range of $1.79 to $1.87 for the quarter, and non-GAAP diluted EPS will be in the range of $2.26 to $2.34 for the quarter. The Company expects weighted average","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1352010/000135201024000003/0001352010-24-000003-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Q1 2024"},{"label":"Revenue","value":"$1.155 billion to $1.165 billion"},{"label":"EPS","value":"$1.79 to $1.87"},{"label":"Guidance","value":"initiated"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"ae3a4434bfedab40b007cef2173bc17500e1e13e","claim":"EPAM Systems, Inc. reported FY 2024 results: EPS $7.20 to $7.60. Guidance initiated.","evidence_excerpt":"Full Year EPAM expects the following for the full year: • The Company expects the year-over-year growth rate for revenues to be in the range of 1% to 4% for 2024. The Company expects foreign currency translation will have a negligible impact on year-over-year reported revenue growth. This guidance also reflects a minimal contribution from inorganic revenues. • For the full year, 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 14.5% to 15.5% of revenues; • The Company expects its GAAP effective tax rate to be approximately 21% and its non-GAAP effective tax rate to be approximately 24%; and • EPAM expects GAAP diluted EPS will be in the range of $7.20 to $7.60 for the year, and non-GAAP diluted EPS will be in the range of $10.00 to $10.40 for the year. The Company expects weighted average diluted shares outstanding for the year of 59.3 million.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1352010/000135201024000003/0001352010-24-000003-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"FY 2024"},{"label":"EPS","value":"$7.20 to $7.60"},{"label":"Guidance","value":"initiated"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"c720cb8bae387a83733f91e84b6a71685d435056","claim":"EPAM Systems, Inc. reported Q4 2023 results: revenue $1.157 billion, EPS $1.66.","evidence_excerpt":"Fourth Quarter 2023 • Revenues of $1.157 billion, down 6.0% year-over-year • GAAP Income from Operations was 10.6% of revenues and Non-GAAP Income from Operations was 17.3% of revenues • GAAP Diluted EPS of $1.66, a decrease of 36.4%, and Non-GAAP Diluted EPS of $2.75, a decrease of 6.1% on a year-over-year basis","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1352010/000135201024000003/0001352010-24-000003-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Q4 2023"},{"label":"Revenue","value":"$1.157 billion"},{"label":"EPS","value":"$1.66"},{"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"}