EPAM Systems (EPAM) Q3 2025 10-Q Quarterly Report
Filed: Nov 6, 2025Period ending Sep 30, 2025
Information Technology
Services-Computer Programming ServicesSEC EDGAR EPAM Systems (EPAM) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 6, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
EPAM Systems Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $1.394B Q3 2025, up 19.4% YoY from $1.168B driven by acquisitions and FX; 9 months revenue $4.05B, up 16.4% YoY from $3.48B
- • Operating margin 10.4% Q3 2025 vs 15.2% Q3 2024; 9 months margin 9.2% vs 11.7% YoY, decline due to lower Poland R&D incentives, higher cost of revenues
- • Best segment growth: Europe +28.4% revenue Q3 2025, operating margin 15.0% vs 19.9% YoY; Americas +13.5% revenue, margin 17.0% vs 22.2% YoY
- • Cash and equivalents $1.239B as of Sept 30, 2025; operating cash flow $372M YTD vs $429M prior year; $439M spent on share repurchases YTD 2025 vs $386M prior year
- • Management cautious on Ukraine war impact, expects ongoing expenses and geopolitical risks; reiterates focus on business continuity and long-term growth
Risk Factors
- • No new or updated risk factors disclosed since 2024 10-K
- • Significant operations risk in Belarus and Ukraine from Russia's invasion carries material adverse effect potential
- • Geopolitical risk remains prominent due to ongoing conflict impact on operations and financial results
- • Market risk tied to global instability affecting client demand and delivery in key regions
- • Financial risks including currency fluctuations and liquidity not specifically updated in this filing
EPAM Systems Q3 2025 Quarterly FinancialsXBRL
Revenue
$1.4B
▲ +19.4% YoY▲ +3.0% QoQ
Net Income
$107M
▼ -21.7% YoY▲ +21.3% QoQ
Operating Margin
10.4%
▼ -476bp YoY▲ +105bp QoQ
Net Margin
7.7%
▼ -402bp YoY▲ +116bp QoQ
ROE
2.9%
Total Assets
$4.8B
EPS (Diluted)
$1.91
▼ -19.4% YoY▲ +22.4% QoQ
Operating Cash Flow
$295M
▲ +21.8% YoY▲ +453.9% QoQ
Source: XBRL data from EPAM Systems Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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