EPAM Programs has reported an 11.7% year-over-year improve in income for the primary quarter of 2025, reaching $1.302 billion, and a 8.3% improve from the final quarter.
The corporate raised its full-year income progress steering to a spread of 11.5% to 14.5%.
EPAM attributed the upward revision to robust natural fixed foreign money income efficiency within the first half of the 12 months and revised international change assumptions.
Alongside the earnings announcement, EPAM revealed a significant management transition. Principal Founder and long-serving CEO Arkadiy Dobkin will step down from his function as CEO and President on September 1, 2025, to change into Government Chairman.
Balazs Fejes, presently President of International Enterprise and Chief Income Officer, will succeed Dobkin as CEO and President.
“We reported robust first quarter outcomes amidst a dynamic macroeconomic panorama, which highlights our distinctive differentiation in supporting our purchasers by means of their transformation journeys,” Dobkin stated in regards to the current earnings.
“By staying anchored in engineering excellence, disciplined execution and AI-native innovation, we’ve continued to construct sequential momentum and ship year-over-year natural progress.”
In his new function, Dobkin will proceed shaping EPAM’s strategic path and world model whereas sustaining key relationships with purchasers, companions, and buyers.
Fejes, who joined EPAM over twenty years in the past and served in roles together with CTO and head of European and APAC markets, stated, “I’m honored to function EPAM’s subsequent CEO as we proceed advancing the worldwide progress technique formed underneath Arkadiy’s management.”
GAAP revenue from operations was $99.3 million, accounting for 7.6% of income, whereas non-GAAP revenue from operations got here in at $175.8 million or 13.5% of income.
The corporate ended the quarter with $1.179 billion in money, money equivalents, and restricted money—an 8.7% drop from December 31, 2024.
Headcount on the finish of Q1 stood at roughly 61,700, together with round 55,600 supply professionals—a 0.9% improve because the earlier quarter.
In April, EPAM celebrated a decade in India with a complete of 10,000 plus workers.
For the second quarter of 2025, EPAM expects revenues between $1.325 billion and $1.340 billion, reflecting 16.2% year-over-year progress on the midpoint. GAAP diluted EPS is projected to be between $1.67 and $1.75, whereas non-GAAP EPS is anticipated to vary from $2.56 to $2.64.
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