Filing Flows › Epam Systems (EPAM) › Q2 2026 › vs Q1 2026
Epam Systems (EPAM) Q2 2026 vs Q1 2026 (quarter over quarter)
Epam Systems's revenue rose $14.7M (+1%) from $1.4B in Q1 2026 to $1.4B in Q2 2026. The biggest changes: Europe +$17.8M (+3%); Americas −$3.1M (-0.4%). Operating margin 10.8% against 8.3% (+2.4 pts).
Epam Systems, Q2 2026: revenue $1.4B (+4% year over year), operating margin 10.8%, net earnings $103M, operating cash flow −$2.4M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 10.8% | 8.3% | +2.4 pts |
| Net margin | 7.3% | 5.9% | +1.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Americas | $792M | $795M | −$3.1M | -0.4% |
| Europe | $623M | $605M | $17.8M | +3% |
| Revenue | $1.4B | $1.4B | $14.7M | +1% |
| Operating profit | $152M | $117M | $35.5M | +30% |
| Costs & expenses | $1.3B | $1.3B | −$20.7M | -2% |
| Pre-tax earnings | $141M | $121M | $19.9M | +16% |
| Other expense, net | $11.7M | −$3.9M | $15.6M | — |
| Cost of revenue | $985M | $1.0B | −$26.9M | -3% |
| SG&A | $245M | $240M | $5.5M | +2% |
| Other operating costs | $32.1M | $31.5M | $562K | +2% |
| Net earnings | $103M | $82.5M | $20.5M | +25% |
| Income tax | $37.6M | $38.1M | −$555K | -1% |
| Operating cash sources | $184M | $200M | −$16.4M | -8% |
| Depreciation & amortization | $32.1M | $31.5M | $562K | +2% |
| Share-based compensation | $46.4M | $49.9M | −$3.5M | -7% |
| Cash used in operations | $2.4M | $36.4M | −$33.9M | -93% |
| Working capital & other | $184M | $200M | −$16.4M | -8% |
Questions
How much did Epam Systems's revenue grow quarter over quarter in Q2 2026?
Epam Systems's revenue rose $14.7M (+1%) from $1.4B in Q1 2026 to $1.4B in Q2 2026.
What drove Epam Systems's revenue change in Q2 2026?
Europe +$17.8M (+3%); Americas −$3.1M (-0.4%).