Demand EnvironmentDemand for growth-oriented, digital engineering services remains weak due to clients’ focus on cost optimization and lingering macro uncertainty.
Guidance And ExpectationsManagement came into FY24 anticipating a material rebound in growth, this optimistic outlook has not come to pass with 2 consecutive cuts to FY24 guidance.
Operational DisruptionsEPAM faced significant operational disruptions following Russia’s invasion of Ukraine, which impacted its delivery capacity.