EPAM raises full-year profitability, EPS outlook
EPAM•EPAM Systems raised its full-year 2026 profitability and earnings outlook, while third-quarter non-GAAP EPS increased 14% year over year. It expects AI-native revenue of at least $650 million and projects more than $1.8 billion in cumulative free cash flow for 2026-2028.
1. Outlook and targets
EPAM Systems raised its full-year 2026 profitability and earnings outlook. Third-quarter non-GAAP earnings per share rose 14% year over year, and AI-native revenue exceeded $185 million; the company expects at least $650 million in AI-native revenue. Long-term targets include accelerating revenue growth through 2028 and a non-GAAP operating margin of at least 16% that year. EPAM projects cumulative free cash flow above $1.8 billion for 2026-2028 and plans to return at least 50% of free cash flow to shareholders annually from 2027 through 2029.
