EPAM Q4 2022 Earnings Report
Footnotes
1. As of January 2023
2. Forrester WaveTM: Digital Platform Engineering Services, Q2 2016
3. Gartner Forecast: IT Services, Worldwide, 2020-2026, Q1 2022
4. Non-GAAP Operating Margin excludes stock-based compensation expenses, acquisition-related costs including amortization of intangible assets, impairment of assets, expenses
associated with EPAM's humanitarian commitment to its professionals in Ukraine, unbilled business continuity resources resulting from Russia's invasion of Ukraine, costs
associated with the geographic repositioning efforts in Russia and Belarus, employee separation costs in Russia, and certain other one-time charges and benefits
5. Non-GAAP Diluted EPS excludes stock-based compensation expenses, acquisition-related costs including amortization of intangible assets, impairment of assets, expenses
associated with EPAM's humanitarian commitment to its professionals in Ukraine, unbilled business continuity resources resulting from Russia's invasion of Ukraine, costs
associated with the geographic repositioning efforts in Russia and Belarus, employee separation costs in Russia, certain other one-time charges and benefits, changes in fair value
of contingent consideration, foreign exchange gains and losses, excess tax benefits related to stock-based compensation, and the related effect on income taxes of the pre-tax
adjustments
6. Total Shareholder Return CAGRs are based on performance through 2022
7. Cumulative Total Return assumes that on December 31, 2019, equal amounts were invested in EPAM and both indices
8. As of December 2022
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