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Endava's (DAVA) Q4 Earnings Rise Y/Y on Strong Top-Line Growth
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Endava (DAVA - Free Report) reported fourth-quarter fiscal 2022 adjusted earnings of £0.51 per share, up 24.4% year over year.
Revenues increased 35% year over year to £180.4 million. On a constant-currency basis, the top line grew 30.9%.
Quarter Details
Payments and Financial Services, TMT, and Other industry verticals accounted for 51%, 25% and 24% of fiscal fourth quarter revenues, respectively.
Payments and Financial services revenues grew 34.3% year over year. TMT revenues increased 32.5% while revenues from Other jumped 39.1% year over year.
Endava generated 35% of revenues from North America, 22% from Europe, 40% from the United Kingdom and 3% from the rest of the world.
Endava PLC Sponsored ADR Price, Consensus and EPS Surprise
Revenues from North America, Europe, the United Kingdom and the rest of the world grew 27%, 42.6%, 36.8% and 63%, respectively.
The top 10 customers of the company accounted for 32% of revenues in the reported quarter. The number of clients with more than £1 million in revenues on a rolling twelve-month basis was 134 as of Jun 30, 2022.
Endava ended the quarter with 732 active clients, up from 615 at the end of the same period in the prior year.
Selling, general and administrative expenses jumped 18.3% year over year to £32.2 million.
Endava reported an operating income of £26.7 million compared with £19.8 million reported in the year-ago quarter. The strong growth was driven by robust top-line growth.
Balance Sheet
As of Jun 30, 2022, cash and cash equivalents (and short-term investments) were £162.8 million.
Endava generated £43.4 million in adjusted free cash flow in the reported quarter.
Guidance
For first-quarter fiscal 2023, Endava expects revenues between £191 million and £193 million. The company expects adjusted earnings in the range of £0.50-£0.51 per share.
For fiscal 2023, revenues are now projected between £840 million to £850 million. The company expects adjusted earnings in the range of £2.35-£2.38 per share.
Image: Bigstock
Endava's (DAVA) Q4 Earnings Rise Y/Y on Strong Top-Line Growth
Endava (DAVA - Free Report) reported fourth-quarter fiscal 2022 adjusted earnings of £0.51 per share, up 24.4% year over year.
Revenues increased 35% year over year to £180.4 million. On a constant-currency basis, the top line grew 30.9%.
Quarter Details
Payments and Financial Services, TMT, and Other industry verticals accounted for 51%, 25% and 24% of fiscal fourth quarter revenues, respectively.
Payments and Financial services revenues grew 34.3% year over year. TMT revenues increased 32.5% while revenues from Other jumped 39.1% year over year.
Endava generated 35% of revenues from North America, 22% from Europe, 40% from the United Kingdom and 3% from the rest of the world.
Endava PLC Sponsored ADR Price, Consensus and EPS Surprise
Endava PLC Sponsored ADR price-consensus-eps-surprise-chart | Endava PLC Sponsored ADR Quote
Revenues from North America, Europe, the United Kingdom and the rest of the world grew 27%, 42.6%, 36.8% and 63%, respectively.
The top 10 customers of the company accounted for 32% of revenues in the reported quarter. The number of clients with more than £1 million in revenues on a rolling twelve-month basis was 134 as of Jun 30, 2022.
Endava ended the quarter with 732 active clients, up from 615 at the end of the same period in the prior year.
Selling, general and administrative expenses jumped 18.3% year over year to £32.2 million.
Endava reported an operating income of £26.7 million compared with £19.8 million reported in the year-ago quarter. The strong growth was driven by robust top-line growth.
Balance Sheet
As of Jun 30, 2022, cash and cash equivalents (and short-term investments) were £162.8 million.
Endava generated £43.4 million in adjusted free cash flow in the reported quarter.
Guidance
For first-quarter fiscal 2023, Endava expects revenues between £191 million and £193 million. The company expects adjusted earnings in the range of £0.50-£0.51 per share.
For fiscal 2023, revenues are now projected between £840 million to £850 million. The company expects adjusted earnings in the range of £2.35-£2.38 per share.
Zacks Rank & Stocks to Consider
Endava currently has a Zacks Rank #3 (Hold).
Investors interested in the Zacks Computer & Technology sector are eagerly awaiting earnings releases from players like ASGN (ASGN - Free Report) , Amkor Technology (AMKR - Free Report) and F5 (FFIV - Free Report) .
ASGN, a Zacks Rank #2 (Buy) stock, is likely to release its third-quarter 2022 results on Oct 26. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for ASGN’s third-quarter 2022 earnings has been steady at $1.78 per share in the past 30 days.
Amkor, carrying a Zacks Rank #2, is set to report third-quarter 2022 results on Oct 24.
The Zacks Consensus Estimate for AMKR’s third-quarter 2022 earnings is pegged at 92 cents per share, unchanged in the past 30 days.
F5, another Zacks Rank #2 stock, is likely to report fourth-quarter fiscal 2022 results on Oct 25.
The consensus mark for F5 earnings is pegged at $2.54 per share, unchanged in the past 30 days.