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< epam > Exhibit 99.1 EPAM Reports Strong Results for Third Quarter 2021 and Raises Full Year Outlook Third quarter revenues of $ 988.5 million , up 51.6 % year - over - year GAAP Income from Operations was 14.6 % of revenues and Non - GAAP Income from Operations was 18.2 % of revenues for the third quarter Third quarter GAAP diluted EPS of $ 1.95 , an increase of 27.5 % , and Non - GAAP diluted EPS of $ 2.42 , an increase of 46.7 % on a year - over - year basis EPAM raises full year 2021 outlook and now expects revenue growth to be at least 40 % , GAAP diluted EPS to be in the range of $ 7.86 to $ 7.93 and Non - GAAP diluted EPS to be in the range of $ 8.72 to $ 8.79 Newtown , PA - November 4 , 2021 – EPAM Systems , Inc. ( NYSE : EPAM ) , a leading digital transformation services and product engineering company , today announced results for its third quarter ended September 30 , 2021 . " We are pleased with our strong third - quarter results , which reflect a wide - range of demand across all our geographies and industry groups , " said Arkadiy Dobkin , CEO & President , EPAM . " The increased rate of change that was difficult to predict over a year ago , is now driving higher levels of transformation across the industries we serve . As such , we continue to invest in growing our teams and capabilities to help our customers to simultaneously envision and deliver solutions through our industry leading digital transformation services and product engineering offerings . "