Technology
Price
$88.27
+3.55%Market Cap
$4.61B
Day High
$89.00
Day Low
$86.18
EPAM Systems delivered solid Q1 FY2026 revenue growth of 7.6% YoY to $1.40B with operating income surging 17.6%, though operating cash flow turned sharply negative and share buybacks more than doubled, reflecting significant capital allocation shifts.
Key risk: Negative Operating Cash Flow
EPAM generated negative operating cash flow of -$36.4M in Q1 FY2026, a sharp reversal from +$24.2M in the prior-year period. If this trend persists, it could strain liquidity and limit the company's ability to fund operations organically. The company's cash balance also declined 11.6% YoY to $1.04B.