Short answer
EPAM Systems (EPAM) filed its Q3 2025 10-Q quarterly report on Nov 6, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $1.4B (up 19.4% year over year) with net income of $107M.
Q3 2025 key financials · XBRL
- Revenue
- $1.4B
- +19.4% YoY · +3.0% QoQ
- Net income
- $107M
- −21.7% YoY · +21.3% QoQ
- Operating margin
- 10.4%
- EPS (diluted)
- $1.91
- −19.4% YoY · +22.4% QoQ
Source: XBRL data from the EPAM Systems (EPAM) Q3 2025 10-Q on SEC EDGAR. USD.
EPAM Systems Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
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
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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