EPAM Reports Results for Fourth Quarter and Full Year 2022

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EPAM Reports Results for Fourth Quarter and Full Year 2022

Publication date:

21.02.2023

Publication from:

Fourth Quarter 2022

Revenues of $1.231 billion, up 2% year-over-year
GAAP Income from Operations was 8% of revenues and Non-GAAP Income from Operations was 17.8% of revenues
GAAP Diluted EPS of $2.61, an increase of 7%, and Non-GAAP Diluted EPS of $2.93, an increase of 6.2% on a year-over-year basis

Full Year 2022

Revenues of $4.825 billion, up 4% year-over-year
GAAP Income from Operations was 9% of revenues and Non-GAAP Income from Operations was 17.0% of revenues
GAAP Diluted EPS of $7.09, a decrease of 0%, and Non-GAAP Diluted EPS of $10.90, an increase of 20.4% on a year-over-year basis

Share Repurchase Program

The Board of Directors approved a share repurchase program with authorization to purchase up to $500 million of EPAM common stock

Newtown, PA — February 16, 2023 —EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced results for its fourth quarter and full year ended December 31, 2022.

We are pleased to share the results of another year of strong financial performance. Despite the challenges brought on by the war, our global team of professionals worked tirelessly to adapt while maintaining the trust of our customers and creating a more diversified global footprint, said Arkadiy Dobkin, CEO & President, EPAM. While the 2023 macro-environment remains uncertain, we are committed to accelerating our momentum while also ensuring that EPAM is well positioned for long-term success.