Endava Plc · NYSE:DAVA
Endava — Q2 FY26 Earnings Presentation
24 slides from Endava's earnings presentation, Feb 19, 2026
Slide 1: Q2 FY26 Investor presentation
Q2 FY26 Investor presentation .
Slide 2: Disclaimer
Disclaimer. This presentation includes forward-looking statements within the meaning market; the size of our addressable market and market trends; our ability presentation. In addition, projections, assumptions and estimates of our of the Private Securities Litigation Reform Act of 1995. All stateme
Slide 3: About Endava
ee About Endava.
Slide 4: We are a technology services company built for ongoing change
We are a technology services company built for ongoing change. Endava supports clients in adapting to dynamic market demands through human ingenuity, intelligent systems and deep delivery expertise. We embed modern technologies - including AI - into the heart of our clients’ operations to deliver me
Slide 5: Endava at a glance
Endava at a glance .. Deep Expertise Strategic & Tenured Client Relationships Global Footprint Capabilities Revenue by Vertical (Q2) Client tenure • Software Engineering Endavans Locations 22% Banking & Capital Markets • Cloud & Platform Engineering Of last 12 months of revenue: 11,385 People 72 Cit
Slide 6: Investment Highlights
Investment Highlights . Attractive Market Deep and Enduring Early Mover in AI-Native Scalable and Adaptable Tailwinds Client Relationships Services Delivery Global Delivery Model Positioned at the intersection High levels of client tenure and Investments in proprietary Diversified sector exposure, o
Slide 7: 25 years navigating digital shifts
For over 25 years we’ve been helping our customers transform people’s lives through technology. Businesses rely on Endava as a trusted partner to harness emerging technologies, modernise operations and digitise customer interactions. Successive Waves of Tech-Enabled Change for Enterprise: 2000 2010
Slide 8: The AI transformation shift is here & redefining the rules of engagement
The AI transformation shift is here & redefining the rules of engagement . Today’s enterprise reality The emerging “AI Steady State” AI adoption is currently limited and not scaled. AI is reshaping • How teams work together The Enterprise AI software delivery: • How decisions are made Transformation
Slide 9: Investing for the AI-Native era
Investing for the AI - Native era . Next-Gen Talent & AI-Native Partner Evolving Leadership Operating Model Ecosystem & Engagement Innovation Strategy • Dava.X Academy is training the • Dava.Flow - our governed, AI-native • Expanded cloud and AI platform • Deepening alignment with next-generation ta
Slide 10: Dava.Flow
Dava.Flow Built for the Four AI-enhanced Capturing value Tool-agnostic post-agile era phases from every signal architecture Dava.Flow replaces Engagements flow through Dava.Flow captures Integrating the best tools headcount-based, time- 4 AI-enhanced phases: industry-wide insights and across the eng
Slide 11: Dava.Flow: Four AI-enhanced phases
Four AI-enhanced phases Signal Explore Qualify the right problems Make the work agent-ready Agents and teams capture, enrich and interrogate AI accelerates analysis and design into an agent-ready market, client and operational signals to test backlog — rapidly generating prototypes, models and assum
Slide 12: Ecosystem of leading partners
Ecosystem of leading partners . Consulting & Strategic Cloud, Data & AI Business, Integration / CRM, Marketing Insurance Security, iPaaS / & Personalisation & Risk Data Privacy & Workflow Sustainability Commerce & Digital Experience Payments & FinTech Emerging & Incubation © Copyright 2025 Endava
Slide 13: Geographic footprint and delivery capabilities
Geographic footprint and delivery capabilities . 72 Cities 32 Countries 6 Regions RoW 6% North Western Europe America UK 31% 40% Central and Eastern Europe Q2 FY26 Revenue North America by Region Latin America APAC Europe 23% MENA 13
Slide 14: Solving complex client problems at speed and scale
Solving complex client problems at speed and scale . Define vision & strategy ● Increase speed to market ● Reduce cost ● Drive efficiency ● Grow revenue ● AI enablement By building on... Capabilities From AI product design to intelligent operations, our deep capabilities span every stage of the prod
Slide 15: Q2 '26 Financial Highlights
Q2 ‘26 Financial Highlights.
Slide 16: Revenue
Revenue .. Revenue (£m) FY21-FY25 CAGR 14.7% -5.9% Q2 YOY 794.7 772.3 740.8 654.8 446.3 390.6 362.3 195.6 184.1 Q2 195.1 178.2 Q1 FY21 FY22 FY23 FY24 FY25 6M FY25 6M FY26 Jun 30 Dec 31 Over the last five fiscal years, 90.7% of our revenue each fiscal year, on average, came from customers who purchas
Slide 17: Profitability
Profitability .. Profit / (Loss) before tax (£m) Adjusted profit before tax (£m)* 114.2 164.2 102.4 138.3 92.1 54.4 83.0 82.1 27.0 41.1 24.1 6.7 21.8 20.5 (15.7) 2.5 10.7 Q2 (7.2) Q2 19.2 4.2 (8.5) Q1 9.9 Q1 FY21 FY22 FY23 FY24 FY25 6M FY25 6M FY26 FY21 FY22 FY23 FY24 FY25 6M FY25 6M FY26 Jun 30 Dec
Slide 18: Client Relationships
Client Relationships .. Total no. of clients and with revenue > £1m* Top 10 clients (% of total revenue) 732 711 695 657 619 595 615 35% 34% 36% 36% 35% 36% 35% 33% 32% 134 146 146 133 141 135 85 FY21 FY22 FY23 FY24 FY25 Q2FY25 Q2FY26 FY21 FY22 FY23 FY24 FY25 6M FY25 6M FY26 Q2 FY25 Q2 FY26 Jun 30 D
Slide 19: Clients Spend
Clients Spend .. Top 10 clients - average spend (£m) Remaining clients - average spend (£m) 27.9 0.91 26.0 0.84 0.84 24.1 0.79 22.2 0.70 15.6 0.52 0.53 14.1 12.8 0.29 0.30 7.1 6.5 FY21 FY22 FY23 FY24 FY25 6M FY25 6M FY26 Q2FY25 Q2FY26 FY21 FY22 FY23 FY24 FY25 6M FY25 6M FY26 Q2FY25 Q2FY26 Jun 30 Dec
Slide 20: Geography & Industry verticals
Geography & Industry verticals .. Other* Revenue by Region 13% Payments 3% 3% 6% 8% 6% 5% 6% RoW 19% N. America Healthcare Europe UK 12% 31% 35% 32% 33% 38% 39% 40% Q2 FY26 Banking & Capital Revenue by Vertical Markets 24% 21% Mobility 23% 26% 23% 24% 23% 9% 22% Technology, Media & Telecom 42% 41% 3
Slide 21: CAPEX & Adjusted FCF
CAPEX & Adjusted FCF .. Capital expenditures (£m) Adjusted free cash flow (£m)* 111.5 107.2 13.7 13.5 82.7 11.1 58.4 48.7 5.2 5.1 35.2 4.4 29.4 8.0 Q2 1.5 20.1 Q2 0.4 31.6 1.1 3.0 Q1 9.2 Q1 3.5 FY21 FY22 FY23 FY24 FY25 6M FY25 6M FY26 FY21 FY22 FY23 FY24 FY25 6M FY25 6M FY26 Jun 30 Dec 31 Jun 30 Dec
Slide 22: Appendix
ee Appendix
Slide 23: IFRS to Non-IFRS reconciliation
SIX MONTHS ENDED THREE MONTHS ENDED DECEMBER 31 DECEMBER 31 2021 2022 2023 2024 2025 2024 2025 2024 2025 IFRS to 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
Slide 24: Endava
endava ss: