# EPAM · catalysts, narrative & risks

**Deep-research report — K3vl4r**  
**Symbols:** EPAM  
**Sources:** 29  
**Published:** 2026-08-11  
**Canonical:** https://app.k3vl4r.com/research/deep-research-epam-catalysts-narrative-risks-937

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# EPAM Systems (NYSE: EPAM) — Research Report as of 2026-08-14

## Recent Catalysts (Last ~1–3 Months)

The dominant recent catalyst is EPAM's **Q2 2026 earnings release on August 6, 2026** [[7]](https://www.prnewswire.com/news-releases/epam-reports-results-for-second-quarter-2026-302844570.html)[[21]](https://www.marketbeat.com/earnings/reports/2026-8-6-epam-systems-inc-stock/). The company reported non-GAAP EPS of $3.38, beating the Street consensus of ~$3.14–$3.21 by approximately 5–7% [[1]](https://www.investing.com/equities/epam-systems-inc-earnings)[[5]](https://news.alphastreet.com/epam-systems-releases-q2-2026-financial-results/)[[6]](https://www.allinvestview.com/earnings/EPAM/q2-2026/). Revenue came in at $1.41 billion, up 4.5% year-over-year from $1.35 billion in Q2 2025 [[5]](https://news.alphastreet.com/epam-systems-releases-q2-2026-financial-results/). Despite the EPS beat, **shares plunged approximately 22%** on the report, driven by weak North American growth and a lowered full-year revenue guidance [[1]](https://www.investing.com/equities/epam-systems-inc-earnings).

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