DAVA

MKT CAP:$242M

Endava plc

Market Cap

$242M

Technology·Software - Infrastructure·🇬🇧 United Kingdom·NYSE

Technology·Software Infra·🇬🇧·NYSE

Stock Price

$4.28-$1.81 (-29.72%)

Apr 23, 2026

Company Details

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in Europe, Latin America, North America, and internationally. The company offers technology and digital advisory servic...

CEO

John Edward Cotterell

IPO Date

Jul 27, 2018

Website

www.endava.com

Key Metrics TTM

Revenue

$1000M

-2.4% YoY

Net Income

-$4M

EPS (Diluted)

-$0.11

Free Cash Flow

$55M

Revenue / Share

$18.91

Gross Margin

23.4%

Operating Margin

2.4%

Net Margin

-0.4%

FCF Margin

5.5%

P/S

0.2x

P/E

—

Earnings Reports

Q3 2026

May 13, 2026

PENDING

Q2 2026

Feb 19, 2026

$245M-7.1%EPS -$0.18

Q1 2026

Nov 12, 2025

$240M-8.6%EPS -$0.20

FY 2025

Sep 4, 2025

$1.0B+4.3%EPS $0.49

Q4 2025

Sep 4, 2025

$252M-3.9%EPS $0.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 22	$228M	$75M	$34M
Q4 22	$243M	$78M	$36M
Q1 23	$264M	$91M	$37M
Q2 23	$277M	$98M	$44M
Q3 23	$274M	$87M	$41M
Q4 23	$256M	$80M	$31M
Q1 24	$254M	$73M	$22M
Q2 24	$247M	$61M	$6M
Q3 24	$235M	$50M	-$2M
Q4 24	$262M	$70M	$2M
Q1 25	$263M	$66M	$6M
Q2 25	$264M	$61M	$2M
Q3 25	$263M	$72M	$22M
Q4 25	$252M	$69M	$12M
Q1 26	$240M	$51M	-$4M
Q2 26	$245M	$42M	-$6M

Valuation

Quarter	P/S	P/E
Q3 22	0.3x	2.5x
Q4 22	0.3x	2.2x
Q1 23	0.3x	1.9x
Q2 23	0.2x	1.9x
Q3 23	0.2x	1.8x
Q4 23	0.2x	1.9x
Q1 24	0.2x	2.4x
Q2 24	0.2x	2.6x
Q3 24	0.2x	4.3x
Q4 24	0.2x	10.5x
Q1 25	0.2x	25.6x
Q2 25	0.2x	32.6x
Q3 25	0.2x	9.9x
Q4 25	0.2x	8.5x
Q1 26	0.2x	16.6x
Q2 26	0.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 22	$25M	$21M
Q4 22	$64M	$58M
Q1 23	$34M	$29M
Q2 23	$55M	$50M
Q3 23	$34M	$28M
Q4 23	$45M	$42M
Q1 24	$22M	$21M
Q2 24	$47M	$45M
Q3 24	$4M	$2M
Q4 24	-$322.2K	-$3M
Q1 25	$6M	$4M
Q2 25	$43M	$43M
Q3 25	$25M	$23M
Q4 25	-$3M	-$5M
Q1 26	$17M	$12M
Q2 26	$35M	$25M

Capital Expenditures

Quarter	CapEx
Q3 22	$4M
Q4 22	$5M
Q1 23	$5M
Q2 23	$6M
Q3 23	$6M
Q4 23	$3M
Q1 24	$1M
Q2 24	$2M
Q3 24	$2M
Q4 24	$2M
Q1 25	$2M
Q2 25	$587.8K
Q3 25	$2M
Q4 25	$2M
Q1 26	$4M
Q2 26	$11M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 22	+50.7%	+52.5%
Q4 22	+35.0%	+35.1%
Q1 23	+33.0%	+36.7%
Q2 23	+30.2%	+24.7%
Q3 23	+20.3%	+20.6%
Q4 23	+5.2%	+8.7%
Q1 24	-3.9%	+2.0%
Q2 24	-10.6%	+3.8%
Q3 24	-14.3%	+1.6%
Q4 24	+2.4%	+15.6%
Q1 25	+3.5%	+10.5%
Q2 25	+6.6%	+8.4%
Q3 25	+11.7%	+1.2%
Q4 25	-3.9%	-7.8%
Q1 26	-8.6%	-4.9%
Q2 26	-7.1%	-4.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 22	$9M	3.9%
Q4 22	$10M	4.1%
Q1 23	$13M	4.9%
Q2 23	$9M	3.1%
Q3 23	$11M	4.0%
Q4 23	$9M	3.6%
Q1 24	$13M	5.3%
Q2 24	$18M	7.4%
Q3 24	$8M	3.5%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%
Q1 26	$10M	4.3%
Q2 26	$0	0.0%

OpEx Breakdown

Quarter	G&A	SG&A
Q4 22	—	$43M
Q1 23	—	$52M
Q2 23	—	$50M
Q4 23	$44M	—
Q2 26	—	$48M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q3 22	50.7%	19.5%	70.1
Q4 22	35.0%	19.0%	54.0
Q1 23	33.0%	17.8%	50.8
Q2 23	30.2%	20.1%	50.2
Q3 23	20.3%	19.0%	39.3
Q4 23	5.2%	19.2%	24.4
Q1 24	-3.9%	13.5%	9.6
Q2 24	-10.6%	8.1%	-2.5
Q3 24	-14.3%	3.9%	-10.5
Q4 24	2.4%	11.2%	13.6
Q1 25	3.5%	8.6%	12.1
Q2 25	6.6%	7.0%	13.6
Q3 25	11.7%	13.6%	25.3
Q4 25	-3.9%	11.7%	7.8
Q1 26	-8.6%	1.0%	-7.6
Q2 26	-7.1%	4.1%	-3.0

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$162M	$0	$162M
Q4 22	$220M	$528.5K	$220M
Q1 23	$246M	$0	$246M
Q2 23	$250M	$0	$250M
Q3 23	$269M	$0	$269M
Q4 23	$222M	$75.5K	$222M
Q1 24	$227M	$0	$227M
Q2 24	$268M	$250.8K	$268M
Q3 24	$256M	$249.4K	$256M
Q4 24	$84M	$246.7K	$84M
Q1 25	$71M	$244.0K	$71M
Q2 25	$81M	$159.1K	$81M
Q3 25	$92M	$160.4K	$92M
Q4 25	$80M	$163.1K	$80M
Q1 26	$64M	$0	$64M
Q2 26	$92M	$157.5K	$92M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 22	58M	-0.0%	+1.4%
Q4 22	58M	-0.0%	+0.7%
Q1 23	58M	+0.3%	+0.6%
Q2 23	58M	-0.3%	-0.1%
Q3 23	58M	+0.4%	+0.4%
Q4 23	58M	-0.2%	+0.2%
Q1 24	58M	+0.6%	+0.5%
Q2 24	59M	+0.3%	+1.1%
Q3 24	59M	+0.3%	+1.0%
Q4 24	59M	+0.0%	+1.2%
Q1 25	59M	-0.0%	+0.6%
Q2 25	60M	+1.4%	+1.8%
Q3 25	59M	-0.3%	+1.1%
Q4 25	59M	0.0%	+1.1%
Q1 26	53M	-10.5%	-9.5%
Q2 26	53M	-0.6%	-11.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 22	$25.7K	9K
Q4 22	$20.5K	12K
Q1 23	$22.3K	12K
Q2 23	$23.3K	12K
Q3 23	$23.2K	12K
Q4 23	$21.2K	12K
Q1 24	$21.1K	12K
Q2 24	$20.5K	12K
Q3 24	$19.5K	12K
Q4 24	$21.7K	12K
Q1 25	$21.8K	12K
Q2 25	$21.8K	12K
Q3 25	$21.7K	12K
Q4 25	$76.6K	3K
Q1 26	$73.0K	3K
Q2 26	$74.5K	3K

Revenue / Employee