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