Endava (DAVA) has released an update.
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Endava reported a revenue decline of 14.3% to £174.4 million in Q3 FY2024, a downturn from the previous year, alongside a diluted EPS of £(0.03), a stark contrast to the £0.42 from the same quarter last year. Despite a challenging demand environment, the company has seen signs of stabilization in client behavior and discretionary spending. Endava also completed a significant acquisition of GalaxE in April 2024, utilizing £129.0 million in cash reserves.
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