Earnings OutlookThe weak adj. operating margin outlook signals that 2025 is likely a transition year for the company as it digests acquisitions and invests ahead of demand and new technologies like GenAI.
Operating MarginA focal point of earnings was EPAM guiding a -150bps adj. operating margin contraction in 2025 at the midpoint of guidance (15.0%), which worried investors.
Pricing EnvironmentPricing environment remains challenging, with clients still heavily focused on costs.