EPAM Systems, Inc. (NYSE:EPAM) Q2 2024 Earnings Conference Call August 8, 2024 8:00 AM ET

Company Participants

Mike Rowshandel - Head of Investor Relations
Arkadiy Dobkin - President & Chief Executive Officer
Jason Peterson - Chief Financial Officer

Conference Call Participants

Maggie Nolan - William Blair
Bryan Bergin - TD Cowen
Darrin Peller - Wolfe Research
Jim Schneider - Goldman Sachs
Jonathan Lee - Guggenheim Securities
Ramsey El-Assal - Barclays
Surinder Thind - Jefferies
James Friedman - Susquehanna

Operator

Good day and welcome to the Second Quarter 2024 EPAM Systems Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] And finally, I would like to advise all participants that this call is being recorded. Thank you.

I'd now like to welcome Mike Rowshandel, Head of Investor Relations to begin the conference. Mike, over to you.

Mike Rowshandel

Good morning, everyone and thank you for joining us today. As the operator just mentioned, I'm Mike Rowshandel, Head of Investor Relations. By now, you should have received your copy of the earnings release for the company's second quarter 2024 results. If you have not, a copy is available on epam.com in the Investors section. With me on today's call are Arkadiy Dobkin, CEO and President; and Jason Peterson, Chief Financial Officer.

I would like to remind those listening that some of the comments made on today's call may contain forward-looking statements. These statements are subject to risks and uncertainties as described in the company's earnings release and SEC filings. Additionally, all references to reported results that are non-GAAP measures have been reconciled to the comparable GAAP measures and are available in our quarterly earnings materials located in the Investors section of our website.

With that said, I will now turn the call over to Ark.

Arkadiy Dobkin

Thank you, Mike. Good morning, everyone. Thank you for joining us today. First, I would like to start off with our second quarter results which came generally in line with our expectations. We believe our performance in the second quarter of 2024 reflects our continued strong execution and adaptability amidst a still complex demand environment.

Let me share some current highlights of our business from Q2 up to today. Our underlying business continues to show signs of stabilization. In the second quarter, we delivered very strong growth in our healthcare and life sciences vertical and strong growth in our emerging verticals, where we also saw some slight sequential improvements in financial services. In some of the verticals, namely business information and media, we continue to work through the impact of the ramp downs from the few large clients we have mentioned before. On the demand environment, we do see broad-based signs of stabilization as well across both EMEA and North America.