EPAM

AI Research

AI-native revenue $105M+ in Q4 2025 → targeting $600M+ for full year 2026

EPAM Systems completed a $223.5M buyback of 1.16M shares in Q4 2025, reported Q4 revenue of $1.41B, and issued 2026 guidance for 4.5-7.5% revenue growth with GAAP operating margins of 10-11%. AI-native revenues exceeded $105M in Q4 2025, with management targeting $600M+ for full-year 2026, reflecting the company's accelerating AI transformation pivot. Ameriprise Financial increased its EPAM stake by 28.9% in Q3; 12 analysts recommend buying with an average target of $191.18 and current price at ~$137.72.