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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Maggie Nolan | William Blair | 13 (0%) |
| Jonathan Lee | Guggenheim | 13 (31%) |
| Bryan Bergin | TD Cowen | 13 (0%) |
| David Grossman | Stifel | 12 (17%) |
| Jim Schneider | Goldman Sachs | 9 (0%) |
| Jason Kupferberg | Wells Fargo | 9 (0%) |
| Jamie Friedman | Susquehanna | 8 (0%) |
| Bryan Keane | Citigroup | 6 (17%) |
| Darrin Peller | Wolfe Research | 6 (0%) |
| Puneet Jain | JPMorgan | 5 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| TD Cowen | 1 | 13 (0%) |
| William Blair | 1 | 13 (0%) |
| Guggenheim | 1 | 13 (31%) |
| Stifel | 1 |
| 12 (17%) |
| Wells Fargo | 2 | 11 (0%) |
| Wolfe Research | 2 | 9 (0%) |
| Goldman Sachs | 1 | 9 (0%) |
| Susquehanna | 1 | 8 (0%) |
EPAM delivered Q1 2026 revenue of $1.4 billion at the high end of guidance with 7.6% year-over-year growth, while non-GAAP EPS surged 18.7% to $2.86 on improving margins. AI-native revenue exceeded $125 million with strong sequential growth, and the company announced a strategic partnership with Anthropic. Revenue guidance was lowered from 4.5-7.5% to 4-6.5% on North America underperformance, but EPS guidance was raised to $12.98-$13.28 as margin expansion outpaced the top-line softness.
Revenue Growth | Demand | Cloud & AI | Competitive Dynamics | Guidance Reliability | Margin | Pricing | Labor Market | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 6 | 4 | 1 | 3 | 3 | 3 | 4 | 2 |
| 2025Q1 | 7 | 6 | 3 | 4 | 4 | 3 | 2 | 2 |
| 2025Q2 | 1 | 4 | 7 | 4 | 2 | 3 | 1 | 4 |
| 2025Q3 | 6 | 3 | 6 | 4 | 2 | 4 | 2 | 2 |
| 2025Q4 | 6 | 4 | 4 | 2 | 3 | 3 | 4 | 1 |
| 2026Q1 | 2 | 7 | 5 | 7 | 7 | 4 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 6 | 7 | 1 | 6 | 6 | 2 |
| Demand | 4 | 6 | 4 | 3 | 4 | 7 |
| Cloud & AI | 1 | 3 | 7 | 6 | 4 | 5 |
| Competitive Dynamics | 3 | 4 | 4 | 4 | 2 | 7 |
| Guidance Reliability | 3 | 4 | 2 | 2 | 3 | 7 |
| Margin | 3 | 3 | 3 | 4 | 3 | 4 |
| Pricing | 4 | 2 | 1 | 2 | 4 | 1 |
| Labor Market | 2 | 2 | 4 | 2 | 1 | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.25B | +7.9% | $1.80 | +8.4% | 10.9% | 8.3% | $115M |
| FY2025 Q1 | $1.30B | +11.7% | $1.28 | -35.0% | 7.6% | 5.6% | $15M |
| FY2025 Q2 | $1.35B | +18.0% | $1.56 | -8.2% | 9.3% | 6.5% | $43M |
| FY2025 Q3 | $1.39B | +19.4% | $1.91 | -19.4% | 11.2% | 7.7% | $286M |
| FY2025 Q4 | $1.41B | +12.8% | $1.98 | +10.0% | 10.6% | 7.8% | $268M |
| FY2026 Q1 | $1.40B | +7.6% | $1.52 | +18.8% | 8.5% | 5.9% | $-54M |
| FY2026 Q2 | $1.41B | +4.5% | $1.97 | +26.3% | 10.8% | 7.3% | $-72M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What EPAM and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“PDLC transformation for Nelnet, a global company specializing in consumer finance, student loan servicing, telecommunications and education to explore the potential of GenAI tools to boost PDLC efficiency.”
EPAM ran a GenAI-driven product-development-lifecycle transformation for client Nelnet, delivering a 31% productivity increase.
“enterprise cloud migrations including our work with Deutsche Bank.”
EPAM cited enterprise cloud-migration work with client Deutsche Bank among its recognized engagements.
“We earned two 2026 Google Cloud Partner of the Year awards for helping clients achieve measurable business outcomes through advanced AI and cloud technologies.”
EPAM won two 2026 Google Cloud Partner of the Year awards, underscoring its Google Cloud AI and migration practice.
“With our partner, AWS, we successfully transformed a fragile single-region platform into a self-healing global system sustaining 99% uptime without manual interaction.”
EPAM delivered a global streaming-infrastructure modernization with partner AWS, achieving 99% uptime and zero-downtime deployments for a client.
“we will be going to the market together with Anthropic and bring to the market applied AI solutions.”
EPAM launched a strategic multiyear applied-AI partnership with Anthropic, building a certified engineering practice and joint go-to-market for enterprise AI.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
EPAM EPAM Systems | 8 | +7.6% | |
| ACN Accenture | 8 | +8.3% | |
| BR Broadridge Financial Solutions | 8 | +7.8% | |
| CDW CDW | 8 | +9.3% | |
| CTSH Cognizant | 8 | +5.8% | |
| FIS Fidelity National Information Services | 7 | +30.1% | |
| FISV Fiserv, Inc. | 3 | -2.0% | |
| IBM International Business Machines Corporation | 8 | +9.5% | |
| IT Gartner | 8 | +2.0% | |
| JKHY Jack Henry & Associates | 8 | +8.7% | |
| LDOS Leidos | 7 | +3.6% |