Benzinga | Sep 28, 2021 08:00AM EDT

Endava Clocks 55% Revenue Growth In Q4, Expands Margins

* Digital transformation, agile development, and intelligent automation services provider Endava PLC (NYSE:DAVA) reported fourth-quarter FY21 revenue growth of 54.9% year-on-year to ?133.6 million at constant currency.

* Margin: The adjusted PBT margin expanded 510 bps to 21.9%. The gross margin expanded 400 bps to 33.9%.

* Adjusted EPS was ?0.41 versus ?0.23 last year.

* Endava generated ?34.9 million in operating cash flow in Q4 and held ?69.9 million in cash and equivalents as of June 30, 2021.

* Outlook: Endava sees Q1 FY22 revenue of ?143.0 million - ?145.0 million, implying constant currency revenue growth of 56.0% - 58.0%. Endava expects an adjusted EPS of ?0.42 - ?0.44.

* Endava sees FY22 revenue of ?608.0 million - ?615.0 million, indicating constant currency growth of 38.0% - 40.0%. Endava sees adjusted EPS of ?1.61 - ?1.67.

* Price Action: DAVA shares closed lower by 4.01% at $117.77 on Monday.