EPAM Reports Results for Third Quarter 2026

Published November 5, 2026 at 6:23 AM EST

EPAM Systems reported quarterly results highlighted by third quarter revenues of $1.426 billion, up 2.3% year-over-year and 2.5% on an organic constant currency basis, according to its earnings release filed with an 8-K Wednesday.

Third quarter GAAP diluted EPS of $2.53, an increase of $0.62, or 32.5%, and non-GAAP diluted EPS of $3.51, an increase of $0.43, or 14.0%, on a year-over-year basis. Increased share repurchase authorization by $1.5 billion, bringing the total remaining authorization to $1.8 billion, and plans to enter a $500 million accelerated share repurchase next week. For the full year, EPAM now expects its GAAP diluted EPS to be in the range of $8.41 to $8.49, and non-GAAP diluted EPS to be in the range of $13.23 to $13.31. Revenues increased to $1.426 billion, a year-over-year increase of $32.1 million, or 2.3%. On an organic constant currency basis, revenues were up 2.5% compared to the third quarter of 2025;.

Balazs Fejes said, "We delivered a strong quarter, with better-than-expected results, continued margin expansion, AI-native momentum and traction in our transformation strategy,"

Results detail

Further figures in the release included Diluted earnings per share (“EPS”) on a GAAP basis was $2.53, an increase of $0.62, or 32.5%, compared to $1.91 in the third quarter of 2025; and; Non-GAAP diluted EPS was $3.51, an increase of $0.43, or 14.0%, compared to $3.08 in the third quarter of 2025; Cash provided by operating activities was $250.1 million for the first nine months of 2026, compared to cash provided by operating activities of $372.0 million for the first nine months of 2025;; Cash, cash equivalents and restricted cash totaled $969.9 million as of September 30, 2026, a decrease of $331.4 million, or 25.5%, from $1.301 billion as of December 31, 2025; and.

The filing is an Item 2.02 results announcement furnished with Exhibit 99.1. Comparisons use the year-earlier period as presented by EPAM Systems unless the release specifies another baseline. Where both GAAP and non-GAAP metrics appear, both are summarized when the extract includes them.

Segment mix, cash flow and any outlook language in the release are the usual secondary reads after the headline revenue and earnings figures. One-time items—restructuring, impairments, gains on sales or legal settlements—can move GAAP profit without changing the run-rate story, so reconciliations remain essential.

Why it matters

For retail investors, the EPAM Systems print is a check on whether growth, margins and cash generation are moving together. The figures above come from the company’s Exhibit 99.1 earnings materials; how they stack up against the prior-year run rate and any guide published with the release will shape the near-term debate.

By the numbers

Third quarter revenues of $1.426 billion, up 2.3% year-over-year and 2.5% on an organic constant currency basis
Third quarter GAAP diluted EPS of $2.53, an increase of $0.62, or 32.5%, and non-GAAP diluted EPS of $3.51, an increase of $0.43, or 14.0%, on a year-over-year basis
Increased share repurchase authorization by $1.5 billion, bringing the total remaining authorization to $1.8 billion, and plans to enter a $500 million accelerated share repurchase next week
For the full year, EPAM now expects its GAAP diluted EPS to be in the range of $8.41 to $8.49, and non-GAAP diluted EPS to be in the range of $13.23 to $13.31
Revenues increased to $1.426 billion, a year-over-year increase of $32.1 million, or 2.3%. On an organic constant currency basis, revenues were up 2.5% compared to the third quarter of 2025;
Diluted earnings per share (“EPS”) on a GAAP basis was $2.53, an increase of $0.62, or 32.5%, compared to $1.91 in the third quarter of 2025; and

Sources

EPAM Systems, Inc. Form 8-K with quarterly financial results, filed 2026-11-04 (accession 0001352010-26-000048)

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