Endava reports Q3 adjusted EPS EUR 0.34 vs. EUR 0.22 last year

Reports Q3 revenue EUR 194.8M vs. EUR 174.4M last year. “The business environment continues to evolve rapidly and the quarter just ended has been challenging. Clients’ desire to innovate remains strong; however, they are slow at signing larger contracts in the current uncertain macroeconomic environment. The opportunity pipeline continues to grow but the conversion into revenue is not happening as we would have expected. In this uncertain environment, we are focusing on what we can control to best position the business for the long term. Additionally, our board of directors has authorized the repurchase of up to $50 million of additional Endava (DAVA) shares, reflecting our confidence in our cash flow outlook and long-term strategy,” said John Cotterell, Endava’s CEO.