Filing Flows › Epam Systems (EPAM) › Q1 2025
Epam Systems (EPAM) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Epam Systems (EPAM) reported revenue of $1.3B for the first quarter 2025 (Q1 2025), +12% from a year earlier and +4% from the quarter before. Operating margin was 7.6%, net earnings $73.5M (5.6% of revenue).
Epam Systems, Q1 2025: revenue $1.3B (+12% year over year), operating margin 7.6%, net earnings $73.5M, operating cash flow $24.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +4% | +12% |
| Operating profit | $99.3M | -27% | -10% |
| Net earnings | $73.5M | -29% | -37% |
| Operating cash flow | $24.2M | -81% | -81% |
| Free cash flow | $14.8M | -87% | -88% |
What changed
Revenue was $1.3B in Q1 2025, up 12% year over year and up 4% from the previous quarter. Americas was the largest line at 60% of revenue. Americas added $0.07B year over year (up 10%), 53% of the total change.
Operating profit was $0.10B, a 7.6% margin (down 1.9 points year over year). Operating profit fell $0.01B even though revenue rose $0.14B versus a year earlier, so costs grew faster than sales. Total costs grew 14% against revenue growth of 12%. The fastest-growing cost line was Other operating costs (+42%). Net earnings were $0.07B, down 37% year over year. The effective tax rate was 22.2%.
Operating cash flow was $0.02B (down 81% year over year), 33% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $0.13B. Capital expenditures of $0.01B left free cash flow of $0.01B.
Questions
What was Epam Systems' revenue in the first quarter 2025?
Epam Systems (EPAM) reported revenue of $1.3B for the first quarter 2025 (Q1 2025), +12% from a year earlier and +4% from the quarter before.
Was Epam Systems profitable in the first quarter 2025?
Operating profit was $99.3M (7.6% of revenue) and net earnings $73.5M.
Source: Epam Systems 10-Q on SEC EDGAR.