EPAM Systems, Inc.'s management explains the business in its own materials. The slides below do the most of that work, pulled from the documents preserved in Sources. Each source link opens the complete presentation at that slide in a new tab.
Management's fullest current statement of strategy, market opportunity, delivery model and 2028 financial targets. · Open the full document →
p. 11 — EPAM at a glance: founded 1993, $5.46B 2025 revenue (+15.4%), 62,000+ staff across 55+ countries — the company in six numbers. · Open the full presentation →p. 12 — 2025 revenue split by industry vertical and by geography, with growth rates — where the money comes from. · Open the full presentation →p. 13 — What EPAM sells: engineering-led help solving complex problems, cutting cost, and driving AI-native transformation for clients. · Open the full presentation →p. 14 — The client base — 11 industries, 345+ of the Forbes Global 2000, 13-year average tenure with top-20 clients, named logos. · Open the full presentation →p. 17 — The $1.8T IT services market mapped by size and growth; EPAM aligns to the faster-growing consulting and implementation segments. · Open the full presentation →p. 18 — The $4.7T AI-spending market and EPAM's $1.3T addressable slice (AI services plus cybersecurity), growing ~30% a year. · Open the full presentation →p. 20 — The strategy in one frame: aspire to be the go-to enterprise-AI partner via establish, transform, capitalize — and its enablers. · Open the full presentation →p. 22 — The AI/Run product family — .Transform, .Blueprints, .Talent, .Tools — EPAM's packaged approach to client AI adoption. · Open the full presentation →p. 23 — How the service mix is shifting: from manual BPO, agency work and legacy support toward agentic operations and AI-native services. · Open the full presentation →p. 24 — The four growth drivers — talent, domain and vertical expertise, IP assets, partnerships — with the hyperscaler and tooling partners. · Open the full presentation →p. 32 — The demand backdrop: the market, technology and enterprise trends pushing clients toward greater agility and AI adoption. · Open the full presentation →p. 35 — Three brand doors — EPAM, Empathy Lab, EPAM Continuum — each aimed at a different buyer (CTO, CMO, business head) to widen the market. · Open the full presentation →p. 37 — How the model changes from digital (2020-24) to AI-native: value prop, sales lead, pricing, sales cycle and marketing, side by side. · Open the full presentation →p. 44 — Why enterprises stay complex: the eight dimensions every enterprise juggles, and the new requirements AI adds to each. · Open the full presentation →p. 45 — The core thesis: when agents write code, the hard work moves to design, architecture, judgment and connecting to enterprise reality. · Open the full presentation →p. 46 — Delivery-as-code: the agentic delivery pipeline end to end, showing where agents execute and where humans still gate. · Open the full presentation →p. 47 — The moat argument: running agentic delivery needs both engineering culture and delivery volume — why most rivals can't assemble both. · Open the full presentation →p. 48 — The client AI-maturity ladder (ad-hoc, scalable, AI-native) and where EPAM competes versus where most companies are stuck. · Open the full presentation →p. 51 — How AI/Run.Tools plugs into any stack — hyperscalers, GitHub, Cursor, EPAM's own — with a case: 60% faster migration, $250K saved. · Open the full presentation →p. 52 — The new delivery unit: the full-stack agentic engineer, and how the specialist role evolved into one owning the whole stack. · Open the full presentation →p. 53 — Why demand keeps growing: an 'infinite backlog' of deferred work, shown through Edward Jones, Baker Hughes and Nelnet engagements. · Open the full presentation →p. 81 — Thirty-plus years across the internet, cloud and AI eras — a company timeline through the IPO, COVID and the Ukraine invasion. · Open the full presentation →p. 103 — Delivery footprint in 2021: 59% of professionals in Ukraine, Belarus and Russia before the war — the starting point for the rebalance. · Open the full presentation →p. 104 — The same footprint today: Ukraine and Belarus down to 21% (-38%), delivery spread across regions — the de-risking in one chart. · Open the full presentation →p. 111 — How delivery is organised: the in-market, nearshore and offshore mix by client region (US, EU, India, LATAM). · Open the full presentation →p. 123 — Five-year financial history: revenue, non-GAAP operating income and diluted EPS, 2022 through 2026 guidance. · Open the full presentation →p. 126 — The long-term financial model as a flywheel — growth, profitability, free cash flow and capital allocation. · Open the full presentation →p. 127 — The three-year growth target: revenue from $5.5B in 2025 toward double digits by 2028, and the drivers behind it. · Open the full presentation →p. 128 — The margin target: returning to 16%+ non-GAAP operating margin by 2028, with the gross-margin and SG&A levers. · Open the full presentation →p. 129 — Free cash flow history and the ~$1.8B cumulative target for 2026-2028, at 80-90% of adjusted net income. · Open the full presentation →p. 130 — Balance sheet and capital allocation: $1.3B cash, nominal debt, and how cash was split across reinvestment, buybacks and M&A. · Open the full presentation →p. 138 — The closing pitch: why EPAM says it wins in the AI era, alongside its concrete 2028 financial goals. · Open the full presentation →
A concise, current company overview with the latest quarter's results and concrete client case studies. · Open the full document →
p. 7 — The latest quarter in numbers: Q1 2026 revenue of $1.400B, margins and EPS, plus revenue by vertical and geography. · Open the full presentation →p. 27 — Client case — Hugo Boss: EPAM built the HUGO BOSS XP loyalty program on blockchain, a concrete example of its experience work. · Open the full presentation →p. 28 — Client case — 1&1: AI voice agents handling hundreds of thousands of calls a week, live in six months using AI/Run.Transform. · Open the full presentation →p. 29 — Client case — Nelnet: a 12-week GenAI pilot lifting developer productivity 31%, with 64% of AI-generated code needing no changes. · Open the full presentation →p. 30 — Client case — National Geographic Society: a unified digital platform and AR museum experience for the exploration nonprofit. · Open the full presentation →p. 32 — Third-party positioning: analyst and employer recognitions from Forrester, IDC, Gartner, Glassdoor and Forbes. · Open the full presentation →p. 38 — Current guidance: Q2 and full-year 2026 revenue, operating margin and EPS ranges. · Open the full presentation →
