Endava plc Files 20-F for FY2024

Ticker: DAVA · Form: 20-F · Filed: Sep 19, 2024 · CIK: 1656081

Endava PLC 20-F Filing Summary
FieldDetail
CompanyEndava PLC (DAVA)
Form Type20-F
Filed DateSep 19, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$1
Sentimentneutral

Sentiment: neutral

Topics: annual-report, financials, uk-company

TL;DR

Endava's FY24 20-F is in, check the numbers for UK-based software services giant.

AI Summary

Endava plc filed its 20-F for the fiscal year ending June 30, 2024. The filing details the company's financial performance and operations, including its incorporation in the United Kingdom and its primary business in computer programming services. Key financial data and share information are presented for the fiscal years 2021 through 2024.

Why It Matters

This filing provides investors and analysts with a comprehensive overview of Endava plc's financial health and strategic positioning for the fiscal year 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a public company filing its annual report, there are inherent risks associated with financial reporting and market performance, but no specific immediate red flags are apparent from this summary.

Key Numbers

  • 2024-06-30 — Fiscal Year End (End of the reporting period for the 20-F)
  • 2023-06-30 — Previous Fiscal Year End (Comparison point for financial performance)
  • 2021-06-30 — Earlier Fiscal Year End (Provides historical financial data)

Key Players & Entities

  • Endava plc (company) — Filer of the 20-F report
  • 0001656081-24-000037 (dollar_amount) — Accession Number for the filing
  • 20240630 (date) — Fiscal year end date
  • 7371 (dollar_amount) — Standard Industrial Classification code for Services-Computer Programming Services
  • 125 OLD BROAD STREET, LONDON EC2N 1AR (company) — Business and mailing address

FAQ

What is Endava plc's primary business activity?

Endava plc's primary business activity is Services-Computer Programming Services, with SIC code 7371.

What is the fiscal year end date for Endava plc?

The fiscal year end date for Endava plc is June 30 (0630).

Where is Endava plc incorporated?

Endava plc is incorporated in the United Kingdom.

What is the SEC file number for Endava plc?

The SEC file number for Endava plc is 001-38607.

What is the accession number for this specific 20-F filing?

The accession number for this 20-F filing is 0001656081-24-000037.

Filing Stats: 4,480 words · 18 min read · ~15 pages · Grade level 13.6 · Accepted 2024-09-19 07:30:44

Key Financial Figures

  • $1 — llars were made at the rate o f 1.00 to $1.2841, which was the rate in effect on J

Filing Documents

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers 1

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable 1

Key Information

Item 3. Key Information 1 A. [Reserved] 1 B. Capitalization and Indebtedness 1 C. Reason for the Offer and Use of Proceeds 1 D. Risk Factors 1

Information on the Company

Item 4. Information on the Company 43 Item4A. Unresolved Staff Comments 65

Operating and Financial Review and Prospects

Item 5. Operating and Financial Review and Prospects 65 A. Operating Results 71 B. Liquidity and Capital Resources 78 C. Research and Development, Patents and Licenses 80 D. Trend Information 80 E. Critical Accounting Estimates 81

Directors, Senior Management and Employees

Item 6. Directors, Senior Management and Employees 81 A. Directors and Senior Management 81 B. Compensation 83 C. Board Practices 99 D. Employees 101 E. Share Ownership 101 F. Disclosure of a Registrant's Actions to Recover Erroneously Awarded Compensation 101

Major Shareholders and Related Party Transactions

Item 7. Major Shareholders and Related Party Transactions 102

Financial Information

Item 8. Financial Information 105 A. Consolidated Financial Statements and Other Financial Information 106 B. Significant Changes 106

The Offer and Listing

Item 9. The Offer and Listing 106

Additional Information

Item 10. Additional Information 107 A. Share Capital 107 B. Memorandum and Articles of Association 107 C. Material Contracts 107 D. Exchange Controls 108 E. Taxation 108 F. Dividends and Paying Agents 116 G. Statement by Experts 116 H. Documents on Display 116 i I. Subsidiary Information 116 J. Annual Report to Security Holders 116

Quantitative and Qualitative Disclosures About Market Risk

Item 11. Quantitative and Qualitative Disclosures About Market Risk 117

Description of Securities Other than Equity Securities

Item 12. Description of Securities Other than Equity Securities 118 Part II 120

Defaults, Dividend Arrearages and Delinquencies

Item 13. Defaults, Dividend Arrearages and Delinquencies 120

Material Modifications to the Rights of Security Holders and Use of Proceeds

Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 120

Controls and Procedures

Item 15. Controls and Procedures 120

Audit Committee Financial Expert

Item 16A. Audit Committee Financial Expert 121

Code of Business Conduct and Ethics

Item 16B. Code of Business Conduct and Ethics 121

Principal Accountant Fees and Services

Item 16C. Principal Accountant Fees and Services 121

Exemption from the Listing Standards for Audit Committees

Item 16D. Exemption from the Listing Standards for Audit Committees 122

Purchases of Equity Securities by the Issuer

Item 16E. Purchases of Equity Securities by the Issuer 122

Change in Registrant's Certifying Accountant

Item 16F. Change in Registrant's Certifying Accountant 122

Corporate Governance

Item 16G. Corporate Governance 122

Mine Safety Disclosure

Item 16H. Mine Safety Disclosure 122

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 122

Insider Trading Policies

Item 16J. Insider Trading Policies 122

Cybersecurity

Item 16K. Cybersecurity 123 Part III 124

Financial Statements

Item 17. Financial Statements 124

Financial Statements

Item 18. Financial Statements 124

Exhibits

Item 19. Exhibits 125 Index to Consolidated Financial Statements F- 1 ii CERTAIN DEFINED TERMS AND PRESENTATION OF FINANCIAL INFORMATION Unless otherwise indicated or the context otherwise requires, all references in this Annual Report on Form 20-F to the terms "Endava," "Endava Limited," "Endava plc," the "Group," the "Company," "we," "us," and "our" refer to Endava plc and our wholly owned subsidiaries. Our fiscal year ends on June 30. Our audited consolidated financial statements have been prepared in accordance with International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or IASB. None of our financial statements were prepared in accordance with generally accepted accounting principles in the United States, or U.S. GAAP. Our financial information is presented in British Pounds. For the convenience of the reader, in this Annual Report on Form 20-F, unless otherwise indicated, translations from British Pounds into U.S. dollars were made at the rate o f 1.00 to $1.2841, which was the rate in effect on June 30, 2024. Such U.S. dollar amounts are not necessarily indicative of the amounts of U.S. dollars that could actually have been purchased upon exchange of British Pounds at the dates indicated. All references in this Annual Report on Form 20-F to "

quot; mean U.S. dollars and all references to "" and "GBP" mean British Pounds. We have made rounding adjustments to some of the figures included in this Annual Report on Form 20-F. Accordingly, numerical figures shown as totals in some tables may not be an arithmetic aggregation of the figures that preceded them. iii CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 20-F contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this Annual Report on Form 20-F can be identified by the use of forward-looking words such as "anticipate," "believe," "could," "estima

Forward-looking statements include, but are not limited to, statements about

Forward-looking statements include, but are not limited to, statements about: our ability to achieve our revenue growth goals in the future; our ability to retain existing clients and attract new clients, including our ability to increase revenue from existing clients and diversify our revenue concentration; our ability to attract and retain highly skilled information technology, or 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 our revenue in current industry verticals and geographies; our ability to maintain favorable pricing and utilization rates to support our gross margins; the effects of increased competition as well as innovations by new and existing competitors in our market; the size of our addressable market and market trends; our ability to adapt to technological change and industry trends and innovate solutions for our clients; our plans for growth and future operations, including our ability to manage our growth; our expectations of future operating results or financial performance; our ability to effectively manage our international operations, including our exposure to foreign currency exchange rate fluctuations; our future financial performance, including trends in revenue, cost of sales, gross profit, selling, general and administrative expenses, finance income and expense and taxes; the impact of unstable market and economic conditions, including as a result of actual or anticipated changes in interest rates, economic inflation and the responses by central banking authorities to control such inflation the impact of political instability, natural disaster, events of terrorism and wars, including the military conflict between Ukraine and Russia and related sanctions; and other risks and uncertainties, including those listed

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers Not Applicable.

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable Not applicable.

Key Information

Item 3. Key Information A. [Reserved] B. Capitalization and Indebtedness Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. D. Risk Factors Our business faces significant risks. You should carefully consider all of the information set forth in this Annual Report on Form 20-F and in our other filings with the United States Securities and Exchange Commission, or SEC, including the following risk factors which we face and which are faced by our industry. Our business, financial condition or results of operations could be materially adversely affected by any of these risks. This report also contains forward-looking statements that involve risks and uncertainties. Our results could materially differ from those anticipated in these forward-looking statements, as a result of certain factors including the risks described below and elsewhere in this report and our other SEC filings. See "Cautionary Statement Regarding Forward-Looking Statements" above. Summary of Selected Risks Associated with Our Business Our operating results have experienced, and may continue to experience, significant variability and our past results may not be indicative of our future performance. Our profitability could suffer if we are not able to maintain favorable pricing. If we fail to meet publicly announced guidance, or if we fail to forecast our market opportunity accurately, our operating results could be adversely affected, and the price of our ADSs could decline. If our information technology systems or those of the third parties with whom we work or our data, are or were compromised, we could experience adverse consequences resulting from such compromise. If we provide inadequate service or cause disruptions in our clients' businesses, it could result in significant costs to us, the loss of our clients and damage to our corporate reputation. Our contracts could be unprofitable. We are dependent on our existing client base and our ability to retain

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