# EDGAR Filing Document

**Accession Number:** 0001656081
**File Stem:** 0001656081-25-000050
**Filing Date:** 2025-11
**Character Count:** 51387
**Document Hash:** 1443ce927178e2a21b9b12a9c8283f8a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001656081-25-000050.hdr.sgml**: 20251112

**ACCESSION NUMBER**: 0001656081-25-000050

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 34

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251112

**DATE AS OF CHANGE**: 20251112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Endava plc
- **CENTRAL INDEX KEY:** 0001656081
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38607
- **FILM NUMBER:** 251468153

**BUSINESS ADDRESS:**
- **STREET 1:** 125 OLD BROAD STREET
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** EC2N 1AR
- **BUSINESS PHONE:** 44 20 7367 1000

**MAIL ADDRESS:**
- **STREET 1:** 125 OLD BROAD STREET
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** EC2N 1AR

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Endava Ltd
- **DATE OF NAME CHANGE:** 20151019

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER** 

**PURSUANT TO RULE 13a-16 OR 15d-16** 

**UNDER THE SECURITIES EXCHANGE ACT OF 1934** 

**For the Month of November 2025**

**Commission File Number: 001-38607**

**ENDAVA PLC**

**(Name of Registrant)**

**125 Old Broad Street**

**London EC2N 1AR**

 **(Address of principal executive office)** 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

⌧ Form 20-F ◻ Form 40-F

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**INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K**

**Press Release and Investor Deck**

On November 11, 2025, Endava plc (the "Company") issued a press release announcing its financial results for the first quarter ended September 30, 2025. A copy of this press release is attached hereto as Exhibit 99.1. Additionally, the Company posted an updated investor presentation, which is attached hereto as Exhibit 99.2. The updated investor presentation is available in the "News and Events" section of the Company's website at www.endava.com and will be used by the Company from time to time at investor conferences and in meetings with investors and others beginning on November 11, 2025.

.

**INCORPORATION BY REFERENCE**

Exhibit 99.1, other than the portions of Exhibit 99.1 under the caption "Outlook," is hereby expressly incorporated by reference into the Company's registration statement on Form F-3 (File No. 333-229213) and registration statements on Form S-8 (File Nos. 333-228717, 333-248904, 333-259900, 333-268067, 333-274571, 333-282207 and 333-290043), and any related prospectuses, as such registration statements may be amended from time to time, and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

**EXHIBIT LIST**

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| | |
|:---|:---|
| **Exhibit** | **Description** |
| 99.1 | <u>[Press Release dated November 11, 2025](endavapressreleaseq1fy26.htm)</u> |
| 99.2 | <u>[Investor Presentation Q1 FY26](earningspresentationq1fy.htm)</u> |

---

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**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | | |
|:---|:---|:---|
| | **ENDAVA PLC** | **ENDAVA PLC** |
| Date: November 12, 2025 | By: | /s/ John Cotterell |
|  |  | Name: John Cotterell |
|  |  | Title: Chief Executive Officer |

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## Exhibit 99.1

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| | |
|:---|:---|
| ![image.jpg](image.jpg) | **Q1 FY2026** |

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**ENDAVA ANNOUNCES FIRST QUARTER FISCAL YEAR 2026 RESULTS**

**Q1 FY2026**

**8.6% Year on Year Revenue Decline to £178.2 million** 

**7.3% Revenue Decline at Constant Currency**

**Diluted EPS £(0.15) compared to £0.04 in the prior year comparative period**

**Adjusted Diluted EPS £0.15 compared to £0.25 in the prior year comparative period** 

**London, U.K. –** Endava plc (NYSE: DAVA) ("Endava" or the "Company"), the technology-driven business transformation group whose AI-native approach combines cutting edge technology with deep industry expertise, today announced results for the three months ended September 30, 2025 ("Q1 FY2026").

*"The first quarter results were lower than guided primarily due to an unexpected credit made to a client that arose subsequent to our last earnings call as well as certain non large strategic pipeline opportunities that did not convert into revenue during the quarter as anticipated. While these factors weighed on our performance, our ability to secure a multi-year strategic relationship with a leading payments company of up to $100 million demonstrates the strength of our client relationships. This partnership will utilise the best of Endava's global delivery capability as well as our AI and advanced engineering capabilities to streamline our client's technology platforms and enhance existing capabilities. This represents a prime example of the type of deal and partnership we are targeting utilising our capability as an AI native, technology agnostic, transformation partne*r,*" said John Cotterell, Endava's CEO.* 

**FIRST QUARTER FISCAL YEAR 2026 FINANCIAL HIGHLIGHTS:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Revenue for Q1 FY2026 was £178.2 million, a decline of 8.6% compared to £195.1 million in the same period in the prior year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Revenue decline at constant currency (a non-IFRS measure)\* was 7.3% for Q1 FY2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Loss before tax for Q1 FY2026 was £(8.5) million, compared to profit before tax of £4.2 million in the same period in the prior year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted profit before tax (a non-IFRS measure)\* for Q1 FY2026 was £9.9 million, or 5.5% of revenue, compared to £19.2 million, or 9.9% of revenue, in the same period in the prior year.

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| | |
|:---|:---|
| ![image.jpg](image.jpg) | **Q1 FY2026** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Loss for the period was £(8.2) million, resulting in diluted loss per share of £(0.15), compared to profit for the period of £2.2 million and diluted earnings per share ("EPS") of £0.04 in the same period in the prior year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted profit for the period (a non-IFRS measure)\* was £7.9 million, resulting in adjusted diluted EPS (a non-IFRS measure)\* of £0.15, compared to adjusted profit for the period of £15.1 million and adjusted diluted EPS of £0.25 in the same period in the prior year.

**CASH FLOW:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net cash from operating activities was £12.3 million in Q1 FY2026, compared to net cash from operating activities of £4.4 million in the same period in the prior year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted free cash flow (a non-IFRS measure)\* was £9.2 million in Q1 FY2026, compared to £3.5 million in the same period in the prior year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• At September 30, 2025, Endava had cash and cash equivalents of £47.2 million, compared to £59.3 million at June 30, 2025.

*\* Definitions of the non-IFRS measures used by the Company and a reconciliation of such measures to the related IFRS financial measure can be found under the sections below titled "Non-IFRS Financial Information" and "Reconciliation of IFRS Financial Measures to Non-IFRS Financial Measures."*

**OTHER METRICS FOR THE QUARTER ENDED SEPTEMBER 30, 2025:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Headcount totaled 11,636 at September 30, 2025, with an average of 10,332 operational employees in Q1 FY2026, compared to a headcount of 11,821 at September 30, 2024 and an average of 10,627 operational employees in the same period in the prior year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Number of clients with over £1 million in revenue on a rolling twelve-month basis was 133 at September 30, 2025 compared to 147 clients at September 30, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Top 10 clients accounted for 36% of revenue in Q1 FY2026, similar to the same period in the prior year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• By geographic region, 42% of revenue was generated in North America, 24% was generated in Europe, 28% was generated in the United Kingdom and 6% was generated in the rest of the world in Q1 FY2026. This compares to 39% in North America, 25% in Europe, 31% in the United Kingdom and 5% in the Rest of the World in the same period in the prior year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• By industry vertical, 17% of revenue was generated from Payments, 22% from BCM, 9% from Insurance, 17% from TMT, 9% from Mobility, 12% from Healthcare, and 14% from

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| | |
|:---|:---|
| ![image.jpg](image.jpg) | **Q1 FY2026** |

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Other in Q1 FY2026. This compares to 20% from Payments, 17% from BCM, 9% from Insurance, 21% from TMT, 9% from Mobility, 12% from Healthcare, and 12% from Other in the same period in the prior year.

**OUTLOOK:**

**Second Quarter Fiscal Year 2026:**

Endava expects revenue will be in the range of £179.0 million to £182.0 million, representing a constant currency revenue decline of between (8.0)% and (7.0)% on a year over year basis. Endava expects adjusted diluted EPS to be in the range of £0.15 to £0.17 per share.

**Full Fiscal Year 2026:**

Endava expects revenue will be in the range of £735.0 million to £752.0 million, representing a constant currency revenue change of between (4.5)% and (2.5)% on a year over year basis. Endava expects adjusted diluted EPS to be in the range of £0.80 to £0.88 per share.

This above guidance for the second quarter and full fiscal year 2026 assumes the exchange rates on October 31, 2025 (when the exchange rate was 1 British Pound to 1.32 US Dollar and 1.14 Euro).

Endava is not able, at this time, to reconcile its expectations for the second quarter and full fiscal year 2026 for a rate of revenue growth or decline at constant currency or adjusted diluted EPS to their respective most directly comparable IFRS measures as a result of the uncertainty regarding, and the potential variability of, reconciling items such as share-based compensation expense, amortisation of acquired intangible assets, foreign currency exchange losses / (gains), net, and fair value movement of contingent consideration, as applicable. Accordingly, a reconciliation is not available without unreasonable effort, although it is important to note that these factors could be material to Endava's results computed in accordance with IFRS.

The guidance provided above is forward-looking in nature. Actual results may differ materially. See "Forward-Looking Statements" below.

**SHARE REPURCHASE PROGRAM:**

As of October 31, 2025, the Company had repurchased an aggregate of 7,139,149 American Depositary Shares for $115.9 million under its share repurchase program. As of October 31, 2025, the Company had $34.1 million remaining for repurchase under its share repurchase authorisation.

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| | |
|:---|:---|
| ![image.jpg](image.jpg) | **Q1 FY2026** |

---

**CONFERENCE CALL DETAILS:**

The Company will host a conference call at 8:00 am ET today, November 11, 2025, to review its Q1 FY2026 results. To participate in Endava's Q1 FY2026 earnings conference call, please dial in at least five minutes prior to the scheduled start time (844) 481-2736 or (412) 317-0665 for international participants, Conference ID: Endava Call.

Investors may listen to the call on Endava's Investor Relations website at http://investors.Endava.com. The webcast will be recorded and available for replay until Friday December 12, 2025.

**ABOUT ENDAVA PLC:**

Endava is a leading provider of next-generation technology services, dedicated to enabling its clients to accelerate growth, tackle complex challenges and thrive in evolving markets. By combining innovative technologies and deep industry expertise with an AI-native approach, Endava consults and partners with clients to create solutions that drive transformation, augment intelligence and deliver lasting impact. From ideation to production, it supports clients with tailor-made solutions at every stage of their digital transformation, regardless of industry, region or scale.

Endava's clients span payments, insurance, banking and capital markets, technology, media, telecommunications, healthcare, mobility, retail and consumer goods and more. As of September 30, 2025, 11,636 Endavans are helping clients break new ground across locations in Europe, the Americas, Asia Pacific and the Middle East.

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| | |
|:---|:---|
| ![image.jpg](image.jpg) | **Q1 FY2026** |

---

**NON-IFRS FINANCIAL INFORMATION:**

To supplement Endava's Condensed Consolidated Statements of Comprehensive Income, Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows presented in accordance with IFRS, the Company uses non-IFRS measures of certain components of financial performance in this press release. These measures include revenue (decline)/growth rate at constant currency, adjusted profit before tax, adjusted profit for the period, adjusted diluted EPS and adjusted free cash flow.

Revenue (decline)/growth rate at constant currency is calculated by translating revenue from entities reporting in foreign currencies into British Pounds using the comparable foreign currency exchange rates from the prior period. For example, the average currency rates in effect for the fiscal quarter ended September 30, 2024 were used to convert revenue for the fiscal quarter ended September 30, 2025 and the revenue for the comparable prior period.

Adjusted profit before tax ("Adjusted PBT") is defined as the Company's (loss)/profit before tax adjusted to exclude the impact of share-based compensation expense, amortisation of acquired intangible assets, realised and unrealised foreign currency exchange losses/(gains), net, restructuring costs, and fair value movement of contingent consideration, all of which are non-cash items except for realised foreign currency exchange losses/(gains), net and restructuring costs. Our Adjusted PBT margin is our Adjusted PBT as a percentage of our total revenue.

Adjusted profit for the period is defined as Adjusted PBT less the adjusted tax charge for the period. The adjusted tax charge is the tax charge adjusted for the tax impact of the adjustments to PBT.

Adjusted diluted EPS is defined as Adjusted profit for the period, divided by weighted average number of shares outstanding - diluted.

Adjusted free cash flow is the Company's net cash from operating activities, plus grants received, less net purchases of non-current assets (tangible and intangible). Adjusted free cash flow is not intended to be a measure of residual cash available for management's discretionary use since it omits significant sources and uses of cash flow, including mandatory debt repayments and changes in working capital.

Management believes these measures help illustrate underlying trends in the Company's business and uses the measures to establish budgets and operational goals, communicated internally and externally, for managing the Company's business and evaluating its performance.

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| | |
|:---|:---|
| ![image.jpg](image.jpg) | **Q1 FY2026** |

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Management also believes the presentation of its non-IFRS financial measures enhances an investor's overall understanding of the Company's historical financial performance. The presentation of the Company's non-IFRS financial measures is not meant to be considered in isolation or as a substitute for the Company's financial results prepared in accordance with IFRS, and its non-IFRS measures may be different from non-IFRS measures used by other companies. Investors should review the reconciliation of the Company's non-IFRS financial measures to the comparable IFRS financial measures included below and not rely on any single financial measure to evaluate the Company's business.

**FORWARD-LOOKING STATEMENTS:**

*This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by the use of terms and phrases such as "believe," "expect," "intends," "outlook," "may," "will," and other similar terms and phrases. Such forward-looking statements include, but are not limited to, statements regarding our pipeline of potential large opportunities, Endava's business strategies, plans, operations and growth opportunities and Endava's future financial performance, including management's financial outlook for the second quarter and full fiscal year 2026. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by these forward-looking statements, including, but not limited to: Endava's ability to achieve its revenue growth goals including as a result of a slower conversion of its pipeline; Endava's expectations of future operating results or financial performance; Endava's ability to accurately forecast and achieve its announced guidance; Endava's ability to retain existing clients and attract new clients, including its ability to increase revenue from existing clients and diversify its revenue concentration; Endava's ability to attract and retain highly-skilled IT professionals at cost-effective rates; Endava's ability to successfully identify acquisition targets, consummate acquisitions and successfully integrate acquired businesses and personnel; Endava's ability to penetrate new industry verticals and geographies and grow its revenue in current industry verticals and geographies; Endava's ability to maintain favorable pricing and utilisation rates to support its gross margin; the effects of increased competition as well as innovations by new and existing competitors in its market; the size of Endava's addressable market and market trends; Endava's ability to adapt to technological change and industry trends and innovate solutions for its clients; Endava's plans for growth and future operations, including its ability to manage its growth; Endava's ability to effectively manage its international operations, including Endava's* 

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| | |
|:---|:---|
| ![image.jpg](image.jpg) | **Q1 FY2026** |

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*exposure to foreign currency exchange rate fluctuations; Endava's future financial performance; the impact of unstable market, economic, and global conditions, as well as other risks and uncertainties discussed in the "Risk Factors" section of Endava's Annual Report on Form 20-F for the year ended June 30, 2025 filed with the SEC on September 4, 2025 and in other filings that Endava makes from time to time with the SEC. In addition, the forward-looking statements included in this press release represent Endava's views and expectations as of the date hereof and are based on information currently available to Endava. Endava anticipates that subsequent events and developments may cause its views to change. Endava specifically disclaims any obligation to update the forward-looking statements in this press release except as required by law. These forward-looking statements should not be relied upon as representing Endava's views as of any date subsequent to the date hereof.*

**INVESTOR CONTACT:**

Endava plc

Laurence Madsen, Head of Investor Relations

Investors@endava.com

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| | |
|:---|:---|
| ![image.jpg](image.jpg) | **Q1 FY2026** |

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| | | |
|:---|:---|:---|
| **CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME** | **Three Months Ended September 30** | **Three Months Ended September 30** |
| **CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME** | **2025** | **2024** |
| **CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME** | **£'000** | **£'000** |
| **REVENUE** | **178187** | **195052** |
| Cost of sales |  |  |
| *Direct cost of sales* | *(134039)* | *(139520)* |
| *Allocated cost of sales* | *(6484)* | *(6873)* |
| Total cost of sales | (140523) | (146393) |
| **GROSS PROFIT** | **37664** | **48659** |
| Selling, general and administrative expenses | (40575) | (43969) |
| **OPERATING (LOSS) / PROFIT** | **(2911)** | **4690** |
| Net finance expense | (5561) | (477) |
| **(LOSS) / PROFIT FOR THE PERIOD BEFORE TAX** | **(8472)** | **4213** |
| Tax on (loss) / profit on ordinary activities | 315 | (1966) |
| **(LOSS) / PROFIT FOR THE PERIOD** | **(8157)** | **2247** |
| **OTHER COMPREHENSIVE INCOME** |  |  |
| Items that may be reclassified subsequently to profit or loss: |  |  |
| Exchange differences on translating foreign operations and net investment hedge impact | 6593 | (23340) |
| **Total comprehensive expense for the year attributable to the equity holders of the Company** | **(1564)** | **(21093)** |
| **(LOSS) / EARNINGS PER SHARE:** |  |  |
| Weighted average number of shares outstanding - Basic | 53037125 | 59051116 |
| Weighted average number of shares outstanding - Diluted | 53193752 | 59430225 |
| Basic (Loss) / EPS (£) | (0.15) | 0.04 |
| Diluted (Loss) / EPS (£) | (0.15) | 0.04 |

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| | |
|:---|:---|
| ![image.jpg](image.jpg) | **Q1 FY2026** |

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| | | | |
|:---|:---|:---|:---|
| **CONDENSED CONSOLIDATED BALANCE SHEETS** | **September 30, 2025** | **June 30, 2025** | **September 30, 2024** <sup>(1)</sup> |
| **CONDENSED CONSOLIDATED BALANCE SHEETS** | **£'000** | **£'000** | **£'000** |
| **ASSETS - NON-CURRENT** | | | |
| Goodwill | 479436 | 473296 | 486083 |
| Intangible assets | 103795 | 100890 | 118593 |
| Property, plant and equipment | 15087 | 14177 | 18197 |
| Lease right-of-use assets | 43074 | 41515 | 50474 |
| Deferred tax assets | 20730 | 19030 | 18613 |
| Financial assets and other receivables | 6636 | 5009 | 9455 |
| **TOTAL** | **668758** | **653917** | **701415** |
| **ASSETS - CURRENT** |  |  |  |
| Trade and other receivables | 213189 | 209523 | 198201 |
| Corporation tax receivable | 4443 | 12865 | 9783 |
| Financial assets | 127 | 121 | 181 |
| Cash and cash equivalents | 47225 | 59345 | 52811 |
| **TOTAL** | **264984** | **281854** | **260976** |
| **TOTAL ASSETS** | **933742** | **935771** | **962391** |
| **LIABILITIES - CURRENT** |  |  |  |
| Lease liabilities | 14127 | 13661 | 14161 |
| Trade and other payables | 97032 | 96827 | 104512 |
| Corporation tax payable | 7817 | 7757 | 5693 |
| Contingent consideration | 104 | 100 | 6651 |
| Deferred consideration | 2518 | 3376 | 5749 |
| **TOTAL** | **121598** | **121721** | **136766** |
| **LIABILITIES - NON CURRENT** |  |  |  |
| Borrowings | 193208 | 180943 | 132638 |
| Lease liabilities | 34958 | 33448 | 40811 |
| Deferred tax liabilities | 13962 | 15183 | 24365 |
| Tax liabilities related to Pilar II Income tax | 584 | 584 |  |
| Contingent consideration | 90 | 401 |  |
| Deferred consideration |  |  | 943 |
| Other liabilities | 557 | 552 | 424 |
| **TOTAL** | **243359** | **231111** | **199181** |
| **EQUITY** |  |  |  |
| Share capital | 1046 | 1123 | 1180 |
| Share premium | 21280 | 21280 | 21280 |
| Merger relief reserve | 63440 | 63440 | 63440 |
| Retained earnings | 536723 | 575428 | 583969 |
| Other reserves | (53699) | (60369) | (43399) |
| Treasury shares |  | (17958) |  |
| Investment in own shares | (5) | (5) | (26) |
| **TOTAL** | **568785** | **582939** | **626444** |
| **TOTAL LIABILITIES AND EQUITY** | **933742** | **935771** | **962391** |

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| | |
|:---|:---|
| ![image.jpg](image.jpg) | **Q1 FY2026** |

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| | | |
|:---|:---|:---|
| **CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS** | **Three Months Ended September 30** | **Three Months Ended September 30** |
| **CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS** | **2025** | **2024** |
| **CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS** | **£'000** | **£'000** |
| **OPERATING ACTIVITIES** |  |  |
| **(Loss) / Profit for the period** | **(8157)** | **2247** |
| Income tax charge | (315) | 1966 |
| Non-cash adjustments | 19992 | 23593 |
| Tax received / (paid) | 5681 | (1320) |
| Research & Development Credit received | 97 |  |
| Net changes in working capital | (5046) | (22112) |
| **Net cash from operating activities** | **12252** | **4374** |
| **INVESTING ACTIVITIES** |  |  |
| Purchase of non-current assets (tangibles and intangibles) | (3090) | (1135) |
| Proceeds from disposal of non-current assets | 47 | 36 |
| Payment for acquisition of subsidiary, net of cash acquired | (3487) | (68) |
| Interest received | 694 | 367 |
| **Net cash used in investing activities** | **(5836)** | **(800)** |
| **FINANCING ACTIVITIES** |  |  |
| Proceeds from borrowings | 10000 |  |
| Repayment of borrowings |  | (7000) |
| Proceeds from sublease | 23 | 30 |
| Repayment of lease liabilities | (2898) | (3093) |
| Repayment of lease interest | (417) | (507) |
| Grant received |  | 274 |
| Interest and debt financing costs paid | (2468) | (2252) |
| Payment for repurchase of own shares | (22917) |  |
| **Net cash used in financing activities** | **(18677)** | **(12548)** |
| **Net change in cash and cash equivalents** | **(12261)** | **(8974)** |
| **Cash and cash equivalents at the beginning of the period** | **59345** | **62358** |
| Effects of exchange rate changes on cash and cash equivalents | 141 | (573) |
| **Cash and cash equivalents at the end of the period** | **47225** | **52811** |

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| | |
|:---|:---|
| ![image.jpg](image.jpg) | **Q1 FY2026** |

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**RECONCILIATION OF IFRS FINANCIAL MEASURES TO NON-IFRS FINANCIAL MEASURES**

**RECONCILIATION OF REVENUE (DECLINE) / GROWTH RATE AS REPORTED UNDER IFRS TO REVENUE (DECLINE) / GROWTH RATE AT CONSTANT CURRENCY:**

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| | | |
|:---|:---|:---|
| | **Three Months Ended September 30** | **Three Months Ended September 30** |
| | **2025** | **2024** |
| **REVENUE (DECLINE) / GROWTH RATE AS REPORTED UNDER IFRS** | **(8.6****%)** | **3.5%** |
| Impact of Foreign exchange rate fluctuations | **1.3%** | **1.7%** |
| **REVENUE (DECLINE) / GROWTH RATE AT CONSTANT CURRENCY** | **(7.3** **%)** | **5.2%** |

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**RECONCILIATION OF ADJUSTED PROFIT BEFORE TAX AND ADJUSTED PROFIT FOR THE PERIOD:** 

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| | | |
|:---|:---|:---|
| | **Three Months Ended September 30** | **Three Months Ended September 30** |
| | **2025** | **2024** |
| | **£'000** | **£'000** |
|<br><br>**(LOSS) / PROFIT BEFORE TAX** | **(8472)** | **4213** |
| **Adjustments:** |  |  |
| Share-based compensation expense | 7680 | 11021 |
| Amortisation of acquired intangible assets | 5021 | 6146 |
| Foreign currency exchange losses / (gains), net | 3548 | (846) |
| Restructuring costs | 2438 |  |
| Fair value movement of contingent consideration | (363) | (1302) |
| **Total adjustments** | **18324** | **15019** |
| **ADJUSTED PROFIT BEFORE TAX** | **9852** | **19232** |
| **(LOSS) / PROFIT FOR THE PERIOD** | **(8157)** | **2247** |
| **Adjustments:** |  |  |
| Adjustments to (loss) / profit before tax | 18324 | 15019 |
| Tax impact of adjustments | (2245) | (2171) |
| **ADJUSTED PROFIT FOR THE PERIOD** | **7922** | **15095** |

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| | |
|:---|:---|
| ![image.jpg](image.jpg) | **Q1 FY2026** |

---

**RECONCILIATION OF ADJUSTED DILUTED EARNINGS PER SHARE:** 

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30** | **Three Months Ended September 30** |
| | **2025** | **2024** |
| | **£'000** | **£'000** |
|<br><br>**DILUTED (LOSS) / EARNINGS PER SHARE (£)** | **(0.15)** | **0.04** |
| **Adjustments:** |  |  |
| Share-based compensation expense | 0.14 | 0.19 |
| Amortisation of acquired intangible assets | 0.09 | 0.10 |
| Foreign currency exchange losses / (gains) net | 0.07 | (0.01) |
| Restructuring costs | 0.05 |  |
| Fair value movement of contingent consideration | (0.01) | (0.03) |
| Tax impact of adjustments | (0.04) | (0.04) |
| **Total adjustments** | **0.30** | **0.21** |
| **ADJUSTED DILUTED EARNINGS PER SHARE (£)** | **0.15** | **0.25** |

---

**RECONCILIATION OF NET CASH FROM OPERATING ACTIVITIES TO ADJUSTED FREE CASH FLOW**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30** | **Three Months Ended September 30** |
| | **2025** | **2024** |
| | **£'000** | **£'000** |
| **NET CASH FROM OPERATING ACTIVITIES** | **12252** | **4374** |
| **Adjustments:** |  |  |
| Grant received |  | 274 |
| Net purchases of non-current assets (tangibles and intangibles) | (3043) | (1099) |
| **ADJUSTED FREE CASH FLOW** | **9209** | **3549** |

---

------

---

| | |
|:---|:---|
| ![image.jpg](image.jpg) | **Q1 FY2026** |

---

**SUPPLEMENTARY INFORMATION**

**SHARE-BASED COMPENSATION EXPENSE**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30** | **Three Months Ended September 30** |
| | **2025** | **2024** |
| | **£'000** | **£'000** |
| Direct cost of sales | 4864 | 7794 |
| Selling, general and administrative expenses | 2816 | 3227 |
| **Total** | **7680** | **11021** |

---

**DEPRECIATION AND AMORTISATION**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30** | **Three Months Ended September 30** |
| | **2025** | **2024** |
| | **£'000** | **£'000** |
| Direct cost of sales | 4591 | 5180 |
| Selling, general and administrative expenses | 5701 | 6897 |
| **Total** | **10292** | **12077** |

---

------

---

| | |
|:---|:---|
| ![image.jpg](image.jpg) | **Q1 FY2026** |

---

**EMPLOYEES, TOP 10 CUSTOMERS AND REVENUE SPLIT**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30** | **Three Months Ended September 30** |
| | **2025** | **2024** |
| **Closing number of total employees (including directors)** | **11636** | **11821** |
| Average operational employees | 10332 | 10627 |
| **Top 10 customers %** | **36%** | **36%** |
| Number of clients with > £1m of revenue<br>(rolling 12 months) | 133 | 147 |
| **Geographic split of revenue %** |  |  |
| North America | 42% | 39% |
| Europe | 24% | 25% |
| UK | 28% | 31% |
| Rest of World (RoW) | 6% | 5% |
| **Industry vertical split of revenue %** |  |  |
| Payments | 17% | 20% |
| Banking and Capital Markets | 22% | 17% |
| Insurance | 9% | 9% |
| TMT | 17% | 21% |
| Mobility | 9% | 9% |
| Healthcare | 12% | 12% |
| Other | 14% | 12% |

---

------

---

| | |
|:---|:---|
| ![image.jpg](image.jpg) | **Q1 FY2026** |

---

**FOOTNOTES**

(1) Restated to include the effect of revisions arising from provisional to final acquisition accounting for GalaxE.

## Exhibit 99.2

![](earningspresentationq1fy001.jpg)© Copyright 2025 Endava

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![](earningspresentationq1fy002.jpg)

Investor presentation Q1 FY2026

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![](earningspresentationq1fy003.jpg)© Copyright 2025 Endava Disclaimer This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation, other than statements of historical facts, are forward-looking statements. The words "believe," "estimate," "expect," "may," "will" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements include, but are not limited to, the statements regarding our business strategy and our plans and objectives for future operations, the benefits of the DavaFlow delivery framework, our estimated addressable market, our assumptions regarding industry trends, potential technological disruptions, and client demand for our services. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by these forward-looking statements, including, but not limited to: our ability to achieve its revenue growth goals including as a result of a slower conversion of its pipeline; our expectations of future operating results or financial performance; our ability to accurately forecast and achieve its announced guidance; our ability to retain existing clients and attract new clients, including its ability to increase revenue from existing clients and diversify its revenue concentration; our ability to attract and retain highly-skilled IT professionals at cost-effective rates; our ability to successfully identify acquisition targets, consummate acquisitions and successfully integrate acquired businesses and personnel; our ability to penetrate new industry verticals and geographies and grow its revenue in current industry verticals and geographies; our ability to maintain favourable pricing and utilisation rates to support its gross margin; the effects of increased competition as well as innovations by new and existing competitors in its market; the size of our addressable market and market trends; our ability to adapt to technological change and industry trends and innovate solutions for its clients; our plans for growth and future operations, including its ability to manage its growth; our ability to effectively manage its international operations, including our exposure to foreign currency exchange rate fluctuations; our future financial performance; the impact of unstable market, economic and global conditions, as well as other risks and uncertainties discussed in the "Risk Factors" section of our Annual Report on Form 20-F for the year ended June 30, 2025 filed with the SEC on September 4, 2025 and in other filings that we make from time to time with the SEC. Except as required by law, we assume no duty to update any of these forward-looking statements after the date of this presentation to conform these statements to actual results or revised expectations. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this presentation. Moreover, except as required by law, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements contained in this presentation. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Neither we nor any other person makes any representation as to the accuracy or completeness of such data or undertakes any obligation to update such data after the date of this presentation. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. By attending or receiving this presentation you acknowledge that you will be solely responsible for your own assessment of the market and our market position and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of our business. This presentation includes non-IFRS financial measures which have certain limitations and should not be considered in isolation, or as alternatives to or substitutes for, financial measures determined in accordance with IFRS. The non-IFRS measures as defined by us may not be comparable to similar non- IFRS measures presented by other companies. Our presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that our future results will be unaffected by these or other unusual or non-recurring items. See the IFRS to Non-IFRS Reconciliation section for a reconciliation of these non- IFRS financial measures to the most directly comparable IFRS financial measures. 3

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![](earningspresentationq1fy004.jpg)

Technology is our how. And people are our why. A new wave of AI-driven digital transformation is underway, and businesses must embrace a more digital core that enables the real-time usage of data to support the rapid and efficient delivery of new initiatives. At Endava, we've partnered with our customers over the last two decades to drive their digital agenda and we have upgraded our capabilities to align with their emerging needs. We combine our engineering heritage, digital transformation expertise and deep industry knowledge with new core modernisation capabilities to support our customers on their transformation journey. These enhanced capabilities provide the transparency and predictability needed to confidently shape the future and harness the leading technologies of tomorrow.

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![](earningspresentationq1fy005.jpg)

5 Opportunity & Approach 01

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![](earningspresentationq1fy006.jpg)© Copyright 2025 Endava For over 25 years we've been helping our customers transform people's lives through technology. Businesses use us as a trusted partner to help them leverage the latest ideas to modernise their business and digitally transform their interactions with their customers.

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![](earningspresentationq1fy007.jpg)© Copyright 2025 Endava Digital Experiences Orchestration Reporting Systems Integration Multicloud Config Core modernisation by Endava Advancements in embedded technologies, APIs, and now AI have made it necessary for organisations to modernise their Core Enterprise Systems to take full advantage of new table-stakes technologies. Core Enterprise Systems For many organisations, digitisation over the last decade has focused on 'building around the edges' as IT teams focused on enhancing customer experiences and integration layers as opposed to core systems. Modernising technology stacks helps our customers keep pace with the speed of technological change, by quickly embracing AI and fully integrating it into their business. D ig ita l Tr an sf or m at io n C ore m odernisation Core modernisation Data Integration & AI API Enablement

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![](earningspresentationq1fy008.jpg)© Copyright 2025 Endava Core modernisation by Endava Decades of collaboration with our clients and analysing their real-world challenges, has resulted in the creation of a distinct approach to Core modernisation. The patented approach delivers an accurate and efficient end-to-end system transformation, through automated data-driven decision making and execution. Data-driven, patented solutions that automate labor- intensive tasks Mature playbooks enable swift deployment and de-risk transformation 11,000+ team members and core industry experts A full spectrum of transformative platform- driven services ServicesPatented Automation ExpertsPlaybooks Core Modernisation Approach by Endava Data led approach Data as the driver for transformation Comprehensive transformation Provides increased agility across the enterprise Re-engineering current tech Both technology and processes Leveraging existing assets Source code, schema, log files, config files, etc. 25+ years of experience 100'S of successful projects 300+ Systems assessed 500+ million lines of code analysed

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![](earningspresentationq1fy009.jpg)© Copyright 2025 Endava We enable change. We are a leading provider of next-generation technology services, dedicated to helping our customers drive real impact and meaningful change. For over two decades, we have been honing our digital transformation approach that now serves as our cornerstone for navigating the new AI-driven era. Our focus is on enhancing our customers' systems and utilising innovative technologies to create modern value propositions that fuel their competitive edge in the market. This is achieved through our multi-disciplinary teams, who bring together decades of expertise, creativity and delivery at scale to support our clients in reaching their goals. We empower people to engage with innovative technologies and achieve transformational results. 9

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![](earningspresentationq1fy010.jpg)© Copyright 2025 Endava Next-gen Tech Core Modernisation Strategy Customer-centric Engineering Agile Automation Data Integration & AI Traditional IT Services Business & Tech Consultants Digital Agencies We are a pure play next-gen technology company 10

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![](earningspresentationq1fy011.jpg)© Copyright 2024 Endava • Confidential and Proprietary • Version 1.0 Accelerators Dava.X Capabilities Managed Services DevSecOps Testing Cyber Security Software Engineering Design Data by building on... We solve complex problems Define vision & strategy Increase speed to market Drive efficiency Grow revenue AI enablementReduce cost Core modernisation Strategy Embedded Google Cloud Platform Sustainability Cloud AICyber security Physical Computing Quantum Chronos Ray Dash MorpheusInfra Maps Compass

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![](earningspresentationq1fy012.jpg)

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![](earningspresentationq1fy013.jpg)

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![](earningspresentationq1fy014.jpg)

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![](earningspresentationq1fy015.jpg)© Copyright 2025 Endava We serve a large addressable market. $4.0T 16.2% Five-year CAGR for digital transformation investments IDC Worldwide Digital Transformation Spending Guide, May 2024 update. 2027 15

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![](earningspresentationq1fy016.jpg)© Copyright 2025 Endava (1.6%) Employee decrease Q1FY25 to Q1FY26 11,636 Global employees as of Sep 30, 2025 37% Women in total staff as of Sep 30, 2025 Our people are at the heart of who we are and drive our success as a business. We enable Endavans to be the best they can be so that we can deliver the highest caliber of results for our customers. Western Europe & EU 45% Europe Non-EU 18% North America 6% Latin America 11% APAC & Middle East 20% Endavans 16 Endavans by geography FY21 FY22 FY23 FY24 FY25 Q1FY25 Q1FY26 Western Europe 493 602 659 562 489 524 489 Central Europe - EU Countries 4,469 6,093 5,693 4,904 4,658 4,721 4,763 4,962 6,695 6,352 5,466 5,147 5,245 5,252 Central Europe - Non-EU Countries 2,361 2,842 2,689 2,346 2,100 2,295 2,065 Latin America 1,244 1,927 1,661 1,357 1,289 1,336 1,259 North America 311 348 324 807 698 810 659 APAC 5 38 1,032 2,101 2,237 2,126 2,388 Middle East 3 5 8 8 9 13 8,883 11,853 12,063 12,085 11,479 11,821 11,636 Q1 FY26 Endavans by Region

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![](earningspresentationq1fy017.jpg)

72 cities, 32 countries European Union Austria, Bulgaria, Croatia, Denmark, Germany, Ireland, Netherlands, Poland, Romania, Slovenia, Spain and Sweden Europe - Non-EU Bosnia & Herzegovina, Moldova, North Macedonia, Serbia, Switzerland and the United Kingdom North America Canada and the United States Latin America Argentina, Brazil, Colombia, Mexico and Uruguay Asia Pacific Australia, India, Malaysia, Singapore and Vietnam Middle East Saudi Arabia, United Arab Emirates Endava around the world 17

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![](earningspresentationq1fy018.jpg)© Copyright 2025 Endava Founded in 2000 Expand to CE Concise UK, IT Consultancy Expand to USA Expand to LATAM IPO NYSE July 2018 Compudava Moldova, Nearshore Location Alpheus Germany, Consulting Business Nickelfish USA, Digital, UX & Strategy firm Velocity Partners USA & LATAM, NA Sales & LATAM Delivery PS Tech Serbia, Agile Delivery ISDC Netherlands & CE, Agile Delivery Intuitus UK, IT Consultancy Private Equity Exozet Germany, Digital Agency Comtrade Digital Services Adriatic Region, Software Engin. Services FIVE USA, Croatia, Digital Agency Levvel USA, Tech Strategy Consulting & Engineering Lexicon Australia, Tech Consulting, Design & Engineering Mudbath Australia, Tech Strategy, Design & Engineering Australia, Sweden, Vietnam, Software Solutions DEK TLM USA, Gaming Services 2026 11,636 Founded in 2000 60 240 1,000 2,000Headcount Q1 FY26 5,000 2026 GalaxE USA, India IT and Business Solutions 18 History of Endava

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![](earningspresentationq1fy019.jpg)© Copyright 2025 Endava Significant Upcoming AI Trends The Present Near Term <2 Years Mid Term 2-5 Years Long Term 5+ Years Agentic AI and Semi-Autonomous Multimodal (Gen) AI AI-Ready Data AI-Native Software Engineering World Models Our current AI tools struggle to truly grapple with the complexity of our world using our current data models, which rely on predefined labels. The goal of world models is to capture the vast number of multi-modal variables that underpin an environment and condense them into an abstract representation, allowing for accurate predictions of the future, including their impact. With these, our AI tools' accuracy and utility value are expected to radically increase.

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![](earningspresentationq1fy020.jpg)© Copyright 2025 Endava 20 Our p eople and communities / We enable our people to be the best they can be by creating learning and development opportunities, fostering an inclusive work environment and making sure everyone is connected to our culture. We also aim to make a positive difference in our communities by supporting impactful projects. brings our sustainability mission to life Operating responsibly / We are committed to acting ethically and with the highest levels of integrity and to safeguarding data privacy and security by aligning with industry best practices. Environmental impact / We care about our impact on the world and follow sound environmental practices to reduce our environmental footprint. Accelerating innovation / We are committed to driving innovation and delivering transformative digital solutions that support our clients in achieving real impact and enable the sustainable growth of our organisation. We focus on embedding AI in our operations, working closely with technology partners and reinforcing our customer-centric approach.

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![](earningspresentationq1fy021.jpg)

21 Financials02

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![](earningspresentationq1fy022.jpg)© Copyright 2025 Endava 195.1 178.2 446.3 654.8 794.7 740.8 772.3 FY21 FY22 FY23 FY24 FY25 3M FY25 3M FY26 FY21-FY25 CAGR 14.7% Over the last five fiscal years, 90.7% of our revenue each fiscal year, on average, came from customers who purchased services from us during the prior fiscal year. -8.6% Q1 YOY Revenue (£m) Q1 Revenue Sep 30 Sep 30 22

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![](earningspresentationq1fy023.jpg)© Copyright 2025 Endava 4.2 (8.5) 54.4 102.4 114.2 27.0 24.1 FY21 FY22 FY23 FY24 FY25 3M FY25 3M FY26 Profit / (Loss) before tax (£m) Profitability Sep 30 Sep 30 Margin 19.2 9.9 92.1 138.3 164.2 83.0 82.1 FY21 FY22 FY23 FY24 FY25 3M FY25 3M FY26 Adjusted profit before tax (£m)\* Q1 Sep 30 Sep 30 Margin \* See page 29 for reconciliation of IFRS to Non-IFRS metrics 23 Q1

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![](earningspresentationq1fy024.jpg)© Copyright 2025 Endava 35% 34% 33% 32% 36% 36% 36% FY21 FY22 FY23 FY24 FY25 Q1 FY25 Q1 FY26 85 134 146 146 133 147 133 615 732 711 695 619 667 602 FY21 FY22 FY23 FY24 FY25 Q1FY25 Q1FY26 Total no. of clients and with revenue > £1m\* Sep 30 Sep 30Sep 30 Sep 30 Top 10 clients (% of total revenue) Client Relationships 24 \*Calculated on a 12-month rolling basis.

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![](earningspresentationq1fy025.jpg)© Copyright 2025 Endava 15,590 22,150 26,030 24,050 27,940 7,080 6,380 FY21 FY22 FY23 FY24 FY25 Q1 FY25 Q1 FY26 25 Top 10 clients - average spend (£000s) 697 841 905 794 836 289 278 FY21 FY22 FY23 FY24 FY25 Q1 FY25 Q1 FY26 Sep 30 Sep 30Sep 30 Sep 30 Remaining clients - average spend (£000s) Clients Spend

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![](earningspresentationq1fy026.jpg)© Copyright 2025 Endava 42% 41% 39% 33% 33% 31% 28% 24% 21% 23% 26% 23% 25% 24% 31% 35% 32% 33% 38% 39% 42% 3% 3% 6% 8% 6% 5% 6% RoW N. America Europe UK \* Other includes consumer products, natural resources, services, and retail verticals Payments 17% Banking & Capital Markets 22% Insurance 9% Technology, Media & Telecom 17% Mobility 9% Healthcare 12% Other\* 14% Geography & Industry verticals Q1 FY26 Revenue by Vertical FY21 Sep 30 Q1 FY25 Q1 FY26FY22 FY23 FY24 FY25 Sep 30 Revenue by Region 26

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![](earningspresentationq1fy027.jpg)© Copyright 2025 Endava 1.1 3.0 5.2 13.7 13.5 5.1 4.4 FY21 FY22 FY23 FY24 FY25 3M FY25 3M FY26 Capital expenditures (£m) CAPEX & Adjusted FCF Sep 30 Sep 30 % of Revenue 3.5 9.2 82.7 107.2 111.5 58.4 48.7 FY21 FY22 FY23 FY24 FY25 3M FY25 3M FY26 Adjusted free cash flow (£m)\* Q1 Sep 30 Sep 30 \* See page 29 for reconciliation of IFRS to Non-IFRS metrics % of Revenue 27 Q1

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![](earningspresentationq1fy028.jpg)

28 Appendix03

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![](earningspresentationq1fy029.jpg)© Copyright 2025 Endava IFRS to Non-IFRS reconciliation 29 2021 2022 2023 2024 2025 2024 2025 Reconciliation of Revenue Growth / (Decline) at Constant Currency to Revenue Growth / (Decline) as Reported under IFRS Revenue Growth / (Decline) as Reported under IFRS 27.2 % 46.7 % 21.4 % (6.8)% 4.3 % 3.5 % (8.6)% Impact of foreign exchange rate fluctuations 2.4 % 0.9 % (4.8)% 2.3 % 2.0 % 1.7 % 1.3 % Revenue Growth / (Decline) at Constant Currency Including Worldpay Captive 29.6 % 47.6 % 16.6 % (4.5)% 6.3 % 5.2 % (7.3)% Impact of Worldpay Captive 0.8 % — — — — — — Proforma Revenue Growth / (Decline) Rate at Constant Currency Excluding Worldpay Captive 30.4 % 47.6 % 16.6 % (4.5)% 6.3 % 5.2 % (7.3)% Revenue 446,298 654,757 794,733 740,756 772,255 195,052 178,187 Reconciliation of Adjusted Profit Before Tax and Adjusted Profit for the Period £ in 000s Profit / (Loss) before Tax 54,368 102,379 114,163 26,980 24,113 4,213 (8,472) Adjustments: Share based compensation expense 24,427 35,005 31,058 34,678 32,045 11,021 7,680 Amortization of acquired intangible assets 6,725 10,823 12,270 14,980 21,577 6,146 5,021 Foreign currency exchange (gains) / losses, net 6,546 (9,944) 10,729 2,233 3,727 (846) 3,548 Restructuring costs — — 6,588 11,645 6,539 — 2,438 Exceptional property charges — — — 1,925 — — — Fair value movement of contingent consideration — — (10,613) (9,486) (5,880) (1,302) (363) Total Adjustments 37,698 35,884 50,032 55,975 58,008 15,019 18,324 Adjusted Profit Before Tax 92,066 138,263 164,195 82,955 82,121 19,232 9,852 Adjusted Profit Before Tax as a percentage of Revenue 20.6 % 21.1 % 20.7 % 11.2 % 10.6 % 9.9 % 5.5 % Profit / (Loss) for the Period 43,450 83,093 94,163 17,122 21,212 2,247 (8,157) Adjustments: Adjustments to profit before tax 37,698 35,884 50,032 55,975 58,008 15,019 18,324 Release of Romanian withholding tax (3,800) — — Tax impact of adjustments (7,241) (6,933) (11,829) (7,109) (8,806) (2,171) (2,245) Adjusted Profit for the Period 73,907 112,044 132,366 65,988 66,614 15,095 7,922 Reconciliation of Net Cash from Operating Activities to Adjusted Free Cash Flow Net Cash from Operating Activities 87,668 120,719 124,518 54,392 52,773 4,374 12,252 Adjustments: Grant received 228 139 494 707 274 274 — Net purchases of non-current assets (tangibles and intangibles) (5,236) (13,695) (13,487) (5,140) (4,364) (1,099) (3,043) Settlement of COC bonuses on acquisition — — — 8,442 — — — Adjusted Free Cash Flow 82,660 107,163 111,525 58,401 48,683 3,549 9,209 Adjusted Free Cash Flow as a percentage of Revenue 18.5 % 16.4 % 14.0 % 7.9 % 6.3 % 1.8 % 5.2 % THREE MONTHS ENDED SEPTEMBER 30

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![](earningspresentationq1fy030.jpg)© Copyright 2025 Endava

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