Filing Flows › Epam Systems (EPAM) › Q1 2026
Epam Systems (EPAM) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Epam Systems (EPAM) reported revenue of $1.4B for the first quarter 2026 (Q1 2026), +8% from a year earlier and -0.5% from the quarter before. Operating margin was 8.3%, net earnings $82.5M (5.9% of revenue).
Epam Systems, Q1 2026: revenue $1.4B (+8% year over year), operating margin 8.3%, net earnings $82.5M, operating cash flow −$36.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.4B | -0.5% | +8% |
| Operating profit | $117M | -22% | +18% |
| Net earnings | $82.5M | -25% | +12% |
| Operating cash flow | −$36.4M | -113% | -250% |
What changed
Revenue was $1.4B in Q1 2026, up 8% year over year and down 1% from the previous quarter. Americas was the largest line at 57% of revenue. Europe added $0.08B year over year (up 15%), 81% of the total change.
Operating profit was $0.12B, a 8.3% margin (up 0.7 points year over year). Of the extra revenue versus Q1 2025, 18% reached operating profit, above the 8% margin then. Total costs grew 7% against revenue growth of 8%. Net earnings were $0.08B, up 12% year over year. The effective tax rate was 31.6%.
Operating cash flow was −$0.04B. Non-cash charges added back $0.03B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $0.20B. Capital expenditures of $0.02B exceeded it, leaving free cash flow of −$0.05B.
Questions
What was Epam Systems' revenue in the first quarter 2026?
Epam Systems (EPAM) reported revenue of $1.4B for the first quarter 2026 (Q1 2026), +8% from a year earlier and -0.5% from the quarter before.
Was Epam Systems profitable in the first quarter 2026?
Operating profit was $117M (8.3% of revenue) and net earnings $82.5M.
Source: Epam Systems 10-Q on SEC EDGAR.