Endava Q1 Earnings Miss, Revenue Down 7.3% YoY, Guidance Disappoints

Endava reported Q1 earnings of £0.15 per share, missing analyst expectations of £0.18. Revenue was £178.2 million, below the consensus estimate of £188.78 million. Adjusted profit before tax dropped to £9.9 million, or 5.5% of revenue. For Q2, the company expects revenue between £179 million and £182 million, with adjusted diluted EPS between £0.15 and £0.17. For the full fiscal year, revenue is expected to be between £735 million and £752 million, with adjusted diluted EPS ranging from £0.80 to £0.88.