| Cash Flow | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 |
|---|---|---|---|---|
| Net income | 268,324 | 161,508 | 73,482 | 351,234 |
| Depreciation and amortization expense | 94,024 | 62,711 | 31,437 | 63,003 |
| Operating lease right-of-use assets amortization expense | 30,939 | 20,581 | 9,929 | 28,051 |
| Bad debt recovery | -31 | 169 | -218 | -3,071 |
| Deferred taxes | 3,206 | -6,090 | 2,386 | -24,888 |
| Stock-based compensation expense | 131,618 | 87,014 | 48,456 | 122,599 |
| Unrealized gain on derivative instruments | - | - | - | 0 |
| Impairment charges | - | - | - | 395 |
| Loss on sale of business | - | - | - | 0 |
| Other | -8,359 | -5,596 | -3,729 | -6,715 |
| Trade receivables and contract assets | 91,758 | 116,352 | 76,680 | 22,791 |
| Prepaid and other assets | -5,382 | -4,210 | 9,163 | 52,167 |
| Accounts payable | -5,262 | -243 | 502 | -4,611 |
| Accrued expenses and other liabilities | 21,862 | -60,706 | -27,248 | 17,262 |
| Operating lease liabilities | -32,856 | -21,573 | -10,975 | -29,604 |
| Income taxes payable | -61,763 | -59,465 | -21,475 | -23,218 |
| Net cash provided by operating activities | 372,044 | 77,360 | 24,162 | 428,909 |
| Purchases of property and equipment | 27,462 | 19,160 | 9,329 | 16,419 |
| Purchases of short-term investments | 1,966 | 2,038 | 1,991 | 1,872 |
| Proceeds from short-term investments | 0 | 0 | 0 | 41,509 |
| Acquisition of business, net of cash acquired (note 3) | 3,344 | 3,346 | -3,325 | 57,065 |
| Cash sold as part of sale of business, net of proceeds | - | - | - | 0 |
| Purchases of non-marketable securities | 720 | 360 | 360 | 6,927 |
| Proceeds from non-marketable securities | 2,913 | 2,913 | 2,913 | - |
| Other investing activities, net | 2,223 | 1,531 | -134 | -1,674 |
| Net cash used in investing activities | -32,802 | -23,522 | -5,308 | -39,100 |
| Proceeds from issuance of stock under the employee incentive programs | 35,037 | 34,579 | 19,480 | 33,781 |
| Payments of withholding taxesrelated tonet share settlements of restricted stock units | 24,421 | 23,338 | 1,293 | 32,465 |
| Proceeds from debt | - | - | - | 0 |
| Repayment of debt | 1,842 | 1,088 | 684 | 1,497 |
| Repurchase of common stock | 438,633 | 356,531 | 159,998 | 385,025 |
| Payment of contingent consideration for previously acquired businesses | 6,238 | 4,746 | 4,746 | 4,750 |
| Purchase of subsidiary shares from noncontrolling interest | 1,358 | 1,358 | 1,358 | 0 |
| Other financing activities, net | -1,764 | -1,087 | -915 | -1,711 |
| Net cash used in financing activities | -439,219 | -353,569 | -149,514 | -391,667 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 53,100 | 55,820 | 18,770 | -543 |
| Net decrease in cash, cash equivalents and restricted cash | -46,877 | -243,911 | -111,890 | -2,401 |
| Cash and cash equivalents at beginning of period | 1,290,392 | 1,290,392 | 1,290,392 | 2,043,108 |
| Cash and cash equivalents at end of period | 1,243,515 | 1,046,481 | 1,178,502 | 2,040,707 |
EPAM Systems, Inc. (EPAM)
EPAM Systems, Inc. (EPAM)