{"id":14043,"date":"2022-02-16T21:43:03","date_gmt":"2022-02-16T21:43:03","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/16\/technology-services-company-endava-reports-nearly-50-jump-in-quarterly-revenue\/"},"modified":"2022-02-16T21:43:03","modified_gmt":"2022-02-16T21:43:03","slug":"technology-services-company-endava-reports-nearly-50-jump-in-quarterly-revenue","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/16\/technology-services-company-endava-reports-nearly-50-jump-in-quarterly-revenue\/","title":{"rendered":"Technology services company Endava reports nearly 50% jump in quarterly revenue"},"content":{"rendered":"

<\/a>\n
<\/p>\n

\n

London-based technology services provider Endava PLC today <\/span>posted<\/span><\/a> financial results for its fiscal second quarter, disclosing that revenues have increased by 49.8% year-over-year to \u00a3157.7 million.<\/span><\/p>\n

Endava went public in 2018 and trades on the New York Stock Exchange. It provides a broad range of technology services to organizations in areas such as the financial services, telecommunications and healthcare sectors.<\/span><\/p>\n

Endava helps its enterprise customers with tasks such as migrating on-premises workloads to the cloud, building new applications and setting up data warehouses. The company also works with other technologies. Endava counts virtual reality, artificial intelligence and robotic process automation among its focus areas.\u00a0<\/span><\/p>\n

Alongside its core engineering services, Endava provides other types of consulting offerings. The company can help an organization determine what technologies it should adopt as part of its digital transformation strategy and works with private equity firms to support the growth of their portfolio companies.<\/span><\/p>\n

On a constant currency basis, Endava\u2019s revenue growth has accelerated considerably in the past year. The company\u2019s second quarter revenue of \u00a3157.7 million represents a 53.4% year-over-year increase in constant currency. That\u2019s a significant improvement over the 21.4% constant currency growth rate Endava posted 12 months earlier.\u00a0<\/span><\/p>\n

\u201cEndava continued our strong growth in all regions and verticals \u2013 helping clients digitally accelerate and innovate,\u201d said Endava Chief Executive Officer John Cotterell. \u201cDemand for our services has been driven by prolonged waves of technology enabled change like the move to the cloud, autonomous vehicles, frictionless payments, data insights and supply chain pressures.\u201d<\/span><\/p>\n

Endava\u2019s sales momentum in its second quarter,\u00a0 which ended December 31, was partly the result of increased demand from large customers. The company said that the number of customer accounts generating over \u00a31 million in revenue on a rolling 12-month basis was 107 at the end of 2021, up from 75 a year ago. Endava said that its 10 largest customers accounted for 34% of total revenues.\u00a0<\/span><\/p>\n

Endava has been rapidly expanding its workforce to support revenue growth. Its headcount grew from about 7,400 at the end of 2020 to more than 10,000 as of December 31, 2021.<\/span><\/p>\n

The company generated an adjusted profit of \u00a326.5 million in the second quarter, which represents adjusted diluted earnings of \u00a30.46 per share. In comparison, Endava posted a profit of \u00a316.4 million 12 months earlier.<\/span><\/p>\n

In its guidance for the current quarter, Endava said that it expects to generate sales of between \u00a3161 million and \u00a3163 million, which would represent constant currency revenue growth of between 44% to 45%. Endava estimates that adjusted diluted earnings will range from \u00a30.42 to \u00a30.44 per share.<\/span><\/p>\n

Photo: Endava<\/a><\/h5>\n
\n
\n

Show your support for our mission by joining our Cube Club and Cube Event Community of experts. Join the community that includes Amazon Web Services and Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger and many more luminaries and experts.<\/span><\/h3>\n<\/div><\/div>\n