EPAM Reports Strong Q4, Authorizes Significant Share Repurchase, Guides for 2026 Non-GAAP EPS Growth

summarizeSummary

EPAM Systems reported strong fourth-quarter results and a significant share repurchase authorization, alongside mixed full-year 2025 performance and a cautious 2026 revenue growth outlook.

check_boxKey Events

• Strong Fourth Quarter 2025 Performance

  Revenues increased 12.8% year-over-year to $1.408 billion, with non-GAAP diluted EPS rising 14.8% to $3.26.

• Significant Share Repurchase Program

  The company repurchased $223.5 million of common stock in Q4 2025, with $776.5 million remaining under its current authorization.

• Mixed Full Year 2025 Results

  Full year revenues grew 15.4% to $5.457 billion and non-GAAP diluted EPS increased 5.9% to $11.50, but GAAP diluted EPS decreased 14.3% to $6.72.

• 2026 Outlook Provided

  EPAM expects full-year 2026 revenue growth between 4.5% and 7.5% and non-GAAP diluted EPS in the range of $12.60 to $12.90.

auto_awesomeAnalysis

EPAM Systems delivered strong fourth-quarter results, with notable increases in revenue and non-GAAP diluted EPS. The company also announced a substantial remaining share repurchase authorization, signaling management's confidence and commitment to shareholder value. While full-year 2025 GAAP diluted EPS declined, non-GAAP diluted EPS saw growth, and the company projects continued non-GAAP EPS growth for 2026. However, the guidance for 2026 revenue growth indicates a slowdown compared to 2025, which could temper investor enthusiasm. Investors will be watching how the company navigates this slower growth environment while continuing its strategic investments in AI.