By Kelly Cloonan
American depository receipts of Endava fell after the company lowered its outlook for the full year and logged lower-than-expected revenue in the fiscal third quarter.
ADRs fell 29% to $15.27 on Wednesday, on track to close at a new all-time low. ADRs have declined 49% over the past 12 months.
Earlier Wednesday, the London-based company guided for full-year revenue growth of 6% to 6.5% on a constant currency basis, and adjusted earnings per share of 1.11 British pounds ($1.48) to GBP1.13, down from its previous guidance for sales to grow 8.5% to 9.0% and adjusted earnings of GBP1.20 to GBP1.23 per share.
Analysts polled by FactSet were looking for sales growth of 6.6% and adjusted earnings of GBP1.18.
For the fiscal third quarter, the technology services company posted a profit of GBP10.9 million, or GBP0.18 a share, compared with a loss of GBP1.7 million, or GBP0.03 a share, a year earlier.
Adjusted earnings per share were GBP0.34, ahead of estimates of GBP0.30 a share, according to analysts polled by FactSet.
Revenue rose 12% to GBP194.8 million, missing analyst estimates for sales of GBP197.6 million and the company's own previous guidance.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
May 14, 2025 11:41 ET (15:41 GMT)
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