EPAM Systems Business Summary

EPAM Systems, Inc. operates as a global provider of digital engineering, cloud, and AI-enabled transformation services, generating revenue primarily through time-and-materials and fixed-price professional service contracts. The company’s business is diversified across six core industry verticals: Financial Services; Travel, Transport & Retail; Software & Technology; Information Services & Media; Life Sciences & Healthcare; and a burgeoning "Other" segment. As of 2026, EPAM has strategically pivoted toward "AI-native" engineering, projecting over $600 million in dedicated AI revenue for the fiscal year to offset moderated organic growth in traditional segments. Its primary competitors include global systems integrators such as Accenture, Cognizant, Globant, and Infosys. Within this competitive landscape, EPAM distinguishes itself as a high-complexity engineering specialist, focusing on advanced product development and platform modernization rather than commoditized IT maintenance. Founded in 1993 by Arkadiy Dobkin and Leo Lozner, EPAM underwent a significant leadership transition on September 1, 2025, with Balazs Fejes assuming the roles of Chief Executive Officer and President while Dobkin moved to Executive Chairman. Fejes, a veteran leader who joined via the 2004 acquisition of Fathom Technology, oversees an executive team that includes Jason Peterson as CFO and Viktar Dvorkin as Head of Global Engineering. The company’s strategic direction is supported by a board featuring Lead Independent Director Richard Michael Mayoras and finance expert Ronald P. Vargo. EPAM maintains a robust institutional ownership structure, with major stakes held by The Vanguard Group, BlackRock, and State Street Corporation, reflecting its status as a stable S&P 500 constituent with a globally distributed delivery model spanning over 50 countries.