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Endava (DAVA - Free Report) reported fourth-quarter fiscal 2021 earnings of 57 cents per share that beat the Zacks Consensus Estimate by 14%. Revenues of $187 million surpassed the consensus mark by 0.6%.
In domestic currency (£), Endava reported adjusted earnings of £0.41 per share, up 78.3% year over year. Revenues surged 47.7% year over year to £133.6 million. On a constant-currency basis, the top line grew 54.9%.
Quarter Details
Payments and Financial Services, TMT, and Other industry verticals accounted for 51%, 25% and 24% of fourth-quarter revenues, respectively.
Payments and Financial services revenues grew 46.4% year over year. TMT revenues increased 33.2% while revenues from Other jumped 70.8% year over year.
Endava PLC Sponsored ADR Price, Consensus and EPS Surprise
Endava generated 37% of revenues from North America, 21% from Europe, 40% from the United Kingdom and 2% from the rest of the world.
Revenues from North America, Europe, the U.K. and the rest of the world grew 77.4%, 26.9%, 40.8% and 10.7%, respectively.
Top ten customers of the company accounted for 36% of revenues in the reported quarter. The number of clients with more than £1 million in revenues on a rolling twelve-month basis was 85 as of Jun 30, 2021 compared with 65 as of Jun 30, 2020.
Endava ended the quarter with 615 active clients, up from 416 at the end of the same period in the prior year. Revenues from clients paying more than £5 million increased 29.5% year over year.
Selling, general and administrative expenses jumped 36.3% year over year to £26.9 million.
Endava reported operating income of £19.8 million compared with £6.9 million reported in the year-ago quarter. The strong growth was driven by robust top-line growth.
Balance Sheet
As of Jun 30, 2021, cash and cash equivalents (and short-term investments) were £69.9 million.
Endava generated £32.6 million in adjusted free cash flow in the quarter compared with £0.4 million reported in the year-ago quarter.
Guidance
For first-quarter fiscal 2022, Endava expects revenues between £143 million and £145 million. The company expects adjusted earnings in the range of £0.42 to £0.44 per share.
For fiscal 2022, revenues are now projected between £6080 million to £615 million. The company expects adjusted earnings in the range of £1.61 to £1.67 per share.
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Endava's (DAVA) Q4 Earnings & Revenues Surpass Estimates
Endava (DAVA - Free Report) reported fourth-quarter fiscal 2021 earnings of 57 cents per share that beat the Zacks Consensus Estimate by 14%. Revenues of $187 million surpassed the consensus mark by 0.6%.
In domestic currency (£), Endava reported adjusted earnings of £0.41 per share, up 78.3% year over year. Revenues surged 47.7% year over year to £133.6 million. On a constant-currency basis, the top line grew 54.9%.
Quarter Details
Payments and Financial Services, TMT, and Other industry verticals accounted for 51%, 25% and 24% of fourth-quarter revenues, respectively.
Payments and Financial services revenues grew 46.4% year over year. TMT revenues increased 33.2% while revenues from Other jumped 70.8% year over year.
Endava PLC Sponsored ADR Price, Consensus and EPS Surprise
Endava PLC Sponsored ADR price-consensus-eps-surprise-chart | Endava PLC Sponsored ADR Quote
Endava generated 37% of revenues from North America, 21% from Europe, 40% from the United Kingdom and 2% from the rest of the world.
Revenues from North America, Europe, the U.K. and the rest of the world grew 77.4%, 26.9%, 40.8% and 10.7%, respectively.
Top ten customers of the company accounted for 36% of revenues in the reported quarter. The number of clients with more than £1 million in revenues on a rolling twelve-month basis was 85 as of Jun 30, 2021 compared with 65 as of Jun 30, 2020.
Endava ended the quarter with 615 active clients, up from 416 at the end of the same period in the prior year. Revenues from clients paying more than £5 million increased 29.5% year over year.
Selling, general and administrative expenses jumped 36.3% year over year to £26.9 million.
Endava reported operating income of £19.8 million compared with £6.9 million reported in the year-ago quarter. The strong growth was driven by robust top-line growth.
Balance Sheet
As of Jun 30, 2021, cash and cash equivalents (and short-term investments) were £69.9 million.
Endava generated £32.6 million in adjusted free cash flow in the quarter compared with £0.4 million reported in the year-ago quarter.
Guidance
For first-quarter fiscal 2022, Endava expects revenues between £143 million and £145 million. The company expects adjusted earnings in the range of £0.42 to £0.44 per share.
For fiscal 2022, revenues are now projected between £6080 million to £615 million. The company expects adjusted earnings in the range of £1.61 to £1.67 per share.
Zacks Rank & Stocks to Consider
Endava currently has a Zacks Rank #3 (Hold).
EPAM Systems (EPAM - Free Report) , ServiceNow (NOW - Free Report) and CDW Corporation (CDW - Free Report) are better-ranked stocks in the same industry. While EPAM sports a Zacks Rank #1 (Strong Buy), both ServiceNow and CDW carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The long term earnings growth rate for EPAM, ServiceNow and CDW stands at 26.5%, 28.2% and 13.1%, respectively.