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Endava plc (symbol: DAVA) is a leading IT services company that focuses on helping businesses undergo digital transformation. Established in 2000, Endava has grown its workforce to over 2,500 employees, with offices strategically located in New York, Atlanta, New Jersey, London, and Frankfurt. The company also operates six delivery centers across Romania, Moldova, Macedonia, and Serbia.
Endava collaborates with some of the world’s most recognized brands in finance, insurance, technology, media, telecommunications, and retail. By leveraging digital technologies, Endava aims to make these businesses more agile, responsive, and valuable. The company’s core services include the design, build, and operation of cutting-edge systems and applications tailored to meet each client's unique needs.
Endava’s client base is predominantly found in the payments and financial services, technology, media, and telecom sectors. The company generates most of its revenue in the U.K. and Europe but has continued to expand its global reach.
The company’s philosophy is centered around creating success for its employees, clients, and the end-users of its technology solutions. This people-centric approach has been a cornerstone of Endava’s growth and success.
Recent Achievements and Current Projects:
- Endava has been instrumental in developing customized software solutions that enable businesses to stay competitive in today’s fast-paced digital world.
- The company is actively involved in several high-profile projects that aim to enhance customer experience and operational efficiency for its clients.
- Ongoing partnerships with industry leaders continue to bolster Endava’s reputation as a trusted IT services provider.
Financially, Endava remains robust, with continuous growth in revenue and a solid client base. The company’s commitment to innovation and excellence ensures it remains at the forefront of the IT services industry.
Endava (NYSE: DAVA) announced its Q3 FY2024 results, revealing a 14.3% year-over-year revenue decrease to £174.4 million and a diluted EPS of £(0.03) compared to £0.42 in the previous year. Adjusted diluted EPS was £0.22, down from £0.59. The company reported a loss before tax of £0.5 million, versus a £30.4 million profit in the prior year. Adjusted profit before tax stood at £15.5 million, down from £43.4 million. Operating cash flow was £3.0 million, a significant drop from £25.1 million. The company had £190.0 million in cash and equivalents by March 31, 2024. Endava has used £129.0 million for the acquisition of GalaxE in April 2024. The company anticipates Q4 FY2024 revenue between £195.0 million and £197.0 million, with adjusted EPS ranging from £0.22 to £0.23. For the full fiscal year 2024, revenue is projected to be between £741.0 million and £743.0 million, and adjusted EPS is expected to be between £1.13 and £1.14.
Endava plc (NYSE: DAVA) will announce its Q3 FY2024 financial results on May 23, 2024. The results for the third quarter ended March 31, 2024, will be released before the opening of regular U.S. market hours. Endava's CEO and CFO will discuss the results in a conference call at 8:00 am ET. Webcast and replay information will be available on the investor relations website.
Endava (NYSE 'DAVA') has launched an innovative agentic AI industry accelerator called 'Morpheus', designed to tackle challenges in highly regulated sectors like healthcare, insurance, financial services, and private equity. This accelerator uses large language models and AI to provide transparent and auditable solutions, overcoming common barriers in the industry. The technology is cloud-agnostic and aims to transform businesses by enabling autonomous teams to work more efficiently and meaningfully.
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