---
schema_version: "secwatch.filing_event.v1"
accession: "0001352010-24-000015"
form_type: "8-K"
ticker: "EPAM"
cik: "0001352010"
company_name: "EPAM Systems, Inc."
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T05:14:14.547229+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# EPAM Q1 revenue $1.165B (-3.8% YoY), GAAP EPS $1.97; cuts FY revenue guidance to $4.575-4.675B

## Summary
- Q1 revenue $1.165B (-3.8% YoY); GAAP operating margin 9.5%, non-GAAP 14.9%.
- GAAP diluted EPS $1.97 (+13.9% YoY); non-GAAP diluted EPS $2.46 (-0.4% YoY).
- Full-year revenue guidance lowered to $4.575-4.675B (midpoint -1.4% YoY); GAAP EPS $7.34-7.64, non-GAAP $10.00-10.30.
- Q2 2024 revenue guidance $1.135-1.145B; GAAP EPS $1.52-1.60, non-GAAP $2.21-2.29.
- CEO says challenging demand unlikely to improve in 2024; company refining operations and investing in AI.

## SEC filing metadata
- accession: 0001352010-24-000015
- form_type: 8-K
- ticker: EPAM
- cik: 0001352010
- company_name: EPAM Systems, Inc.
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1352010/000135201024000015/0001352010-24-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1352010/000135201024000015/epam-20240509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001352010-24-000015
- JSON: https://secwatch.observer/filing/0001352010-24-000015.json
- Plain text: https://secwatch.observer/filing/0001352010-24-000015.txt

## Key facts
- Earnings Releases
  EPAM Systems, Inc. updated its For the second quarter guidance (initiated).
  - Period: For the second quarter
  - Guidance: initiated
  - Result: guidance update
  source text: For the second quarter, EPAM expects revenues to be in the range of $1.135 billion to $1.145 billion, GAAP diluted EPS to be in the range of $1.52 to $1.60 and non-GAAP diluted EPS to be in the range of $2.21 to $2.29
  evidence_url: https://www.sec.gov/Archives/edgar/data/1352010/000135201024000015/0001352010-24-000015-index.htm
- Earnings Releases
  EPAM Systems, Inc. updated its for the full year guidance (lowered).
  - Period: for the full year
  - Guidance: lowered
  - Result: guidance update
  source text: For the full year, EPAM updates expected revenues to now be in the range of $4.575 billion to $4.675 billion, updates expected GAAP diluted EPS to now be in the range of $7.34 to $7.64 and narrows expected range for non-GAAP diluted EPS to $10.00 to $10.30
  evidence_url: https://www.sec.gov/Archives/edgar/data/1352010/000135201024000015/0001352010-24-000015-index.htm
- Earnings Releases
  EPAM Systems, Inc. reported the first quarter ended March 31, 2024 results: revenue $1.165 billion, EPS $1.97. Guidance reaffirmed.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $1.165 billion
  - EPS: $1.97
  - Guidance: reaffirmed
  - Result: reported results
  source text: • First quarter revenues of $1.165 billion, down 3.8% year-over-year •
  evidence_url: https://www.sec.gov/Archives/edgar/data/1352010/000135201024000015/0001352010-24-000015-index.htm

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