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Endava helps businesses replace or improve existing software and build new digital products. Its teams work from planning and design through software development and deployment, including automating business processes and implementing data and AI systems. It also operates and maintains clients’ applications and cloud systems after deployment.
Clients are mainly enterprises in the United Kingdom, European Union and United States. Payments, banking and capital markets, and technology, media and telecommunications together supply most of its revenue. Most revenue comes from contracts that charge for time worked and related expenses; other projects have an agreed fixed price.
The business relies heavily on winning further work from existing clients, with a significant share of revenue coming from its largest clients. Engagements are generally project-specific rather than long-term commitments, and clients can often cancel or delay work. Profitability depends on keeping skilled staff assigned to billable projects and matching staffing costs to client fees. Privacy laws, cross-border data-transfer restrictions and clients’ local-hosting requirements constrain where Endava can process the data needed to deliver its services.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
EPAM competes with Endava for enterprise spending on designing, building and modernizing software, with both using engineering teams spread across countries. Watch EPAM’s cloud and AI transformation work for signs of demand for the engineering services Endava also sells.
Globant and Endava compete for clients paying to build digital products and transform software, combining engineering, design and industry expertise. Globant’s subscription-based AI Pods services are one offering to watch as enterprises decide how to spend their digital-transformation budgets.
Grid Dynamics competes with Endava for large enterprises’ cloud, data, AI and software-engineering projects, including financial-services and technology clients. Its finance revenue rose from $60.157 million in 2024 to $100.384 million in 2025, making that customer group worth watching for both demand and competition facing Endava.
CI&T competes with Endava for clients paying distributed teams to develop and maintain software and provide consulting. Watch CI&T’s North American client business: it is investing in expansion there, where Endava also delivers services.
Accenture competes with Endava for enterprise budgets to advise on technology, transform digital systems and keep those systems running through managed services. Its Consulting and Managed Services results are the relevant lines to watch, rather than treating all its work as a match for Endava.
Cognizant competes with Endava for clients paying to develop and maintain enterprise applications, particularly in financial services, healthcare and technology. Its Financial Services, Health Sciences and Communications, Media and Technology businesses offer a view of spending among customer groups Endava also serves.
Infosys competes with Endava for North American and European enterprises’ spending on application development and modernization, cloud, data and AI services. Watch its business in those regions for the demand backdrop to Endava’s own technology-services work.
Wipro competes with Endava for enterprises paying to build and modernize applications and obtain technology advice, data and AI services. Watch Wipro’s IT Services business for this overlap; its separate sales of third-party IT products are a different business.
DXC competes with Endava for businesses paying for software engineering, application modernization and digital transformation across finance, healthcare and mobility. Its Consulting & Engineering Services results are the closest read on that competition, rather than its infrastructure or insurance-software businesses.
Fed Interest Rate Decision
For Endava, the Fed decision signals how the U.S. rate environment may affect interest paid on its revolving-credit-facility debt that bears SOFR, a benchmark U.S. borrowing rate.
Expected4.0%Last release4.0%
If it comes in above expectations
If the policy rate is higher than expected, broader borrowing costs may rise, increasing interest expense on Endava’s SOFR-based facility borrowing when it reprices.
If it comes in below expectations
If the policy rate is lower than expected, broader borrowing costs may fall, reducing interest expense on Endava’s SOFR-based facility borrowing when it reprices.
Cognizant Technology Solutions earningsCTSH
Cognizant's report will show whether financial-services, healthcare, and technology clients that Endava also serves are still paying for enterprise application work.
Watch revenue in Cognizant’s Financial Services, Health Sciences, and Communications, Media and Technology businesses. Growth would show Cognizant converting more work from customer groups Endava also serves, a sign that budgets are still reaching technology providers. Declines would be consistent with clients delaying or cutting projects, making Endava’s demand backdrop weaker, though Cognizant’s results alone cannot prove the direction of the whole market.
DXC Technology Company earningsDXC
DXC's Consulting & Engineering Services business will show how it is converting enterprise spending on software engineering and application modernization, work it competes for with Endava.
Focus on revenue in DXC’s Consulting & Engineering Services business, not its infrastructure or insurance-software work. Growth would show DXC turning more overlapping projects into revenue: companies are buying these services, but DXC may also be winning work Endava could pursue. A decline would be consistent with tighter budgets or slower project starts, making Endava’s market tougher; DXC’s results alone cannot distinguish weaker demand from lost work.
Endava plc earningsThis company
Endava's report will show whether enterprise clients are turning technology budgets into billable work that covers the cost of delivery.
Read revenue growth alongside gross margin, the share of revenue left after direct delivery costs. Rising revenue with a steady or higher margin would suggest clients are releasing more projects and Endava’s fees still cover delivery costs. Flat or falling revenue with a weaker margin would point to continued project delays or price and staffing costs squeezing profit.
