EPAM EPAM (EPAM) Q2 FY26 earnings call
EPAM delivered Q2 results at the high end of its revenue outlook, driven by accelerating AI native revenues and strong performance in EMEA and key verticals like Financial Services. However, significant underperformance in North America, attributed to a demand shift and internal go-to-market issues, led to a lowered full-year revenue growth outlook. The company is undertaking a multi-quarter commercial transformation to address these challenges, with expectations for meaningful revenue contribution from new large deals shifting to early 2027.
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EPAM operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Employees Delivery professionals | 56.5K+We ended Q1 with more than 56,500 delivery professionals, reflecting total growth of 1.6% compared to Q1 2025.Source: earnings call transcript | 56.65K+We ended Q2 with more than 56,650 delivery professionals, reflecting total growth of 1.5% compared to Q2 2025.Source: earnings call transcript | — |
| Employees | 62.75K+Our total head count at quarter end was more than 62,750 employees.Source: earnings call transcript | 62.85K+Our total headcount at quarter end was more than 62,850 employees.Source: earnings call transcript | — |
| Utilization rate | 77%Utilization was 77% compared to 77.5% in Q1 of last year, and 75.4% in Q4 2025.Source: earnings call transcript | 78.3%Utilization was 78.3% compared to 78.1% in Q2 of last year and 77% in Q1 2026.Source: earnings call transcript | +1.3 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.