Welcome to our dedicated page for Endava news (Ticker: DAVA), a resource for investors and traders seeking the latest updates and insights on Endava stock.
Endava plc reports recurring developments as a foreign issuer and technology-driven business transformation group providing next-generation technology services for digital transformation. Its updates center on quarterly financial results, investor presentations, client demand by geography and industry vertical, and its work across payments, insurance, banking and capital markets, technology, media, telecommunications, healthcare, mobility, retail and consumer goods.
Company news also covers Endava's AI-native delivery model, including Dava.Flow for governed software delivery and Dava.Rise for connecting scale-ups with enterprise innovation needs. Partnership announcements describe the company's role in AI-assisted engineering, payments technology, IT consulting, program delivery and modernization work for enterprise clients across Europe, the Americas, Asia Pacific and the Middle East.
Endava (NYSE: DAVA), a prominent technology services company, has announced an expanded partnership with Google Cloud. This development underscores Endava's expertise in delivering Google Cloud's Generative AI, Cloud Migration, and Application Modernisation services in the APAC region, covering Australia, New Zealand, and South East Asia. The partnership aims to offer more tailored products and services, leveraging Endava's certified staff and technical accelerators. This move is expected to help companies in the region transition to cloud architecture efficiently, despite potential management complexities and costs. Saurabh Bajaj, APAC Head of Google Cloud at Endava, highlighted the success of their collaboration and the significant leap forward in Endava's regional expansion.
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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