Endava PLC（DAVA）のニュースとイベントDAVAEndava PLC

Company Expects Delay in Filing 2026 Annual Report

In light of the investigation, restatement of the Affected Periods, leadership changes, and ongoing external audit procedures, the Company does not expect to file its 2026 Annual Report by the November 2, 2026 filing deadline. The Company intends to file a Notification of Late Filing, as provided in Rule 12b-25 under the Securities Exchange Act of 1934, as amended, with the SEC. The Company is working to file its 2026 Annual Report and will announce the timing of its fiscal fourth quarter and full year 2026 earnings release and conference call as soon as reasonably practical. It will also communicate the reporting timeline for its fiscal first quarter 2027 financial results after the filing of its 2026 Annual Report.

Company Financial Guidance Suspended Due to Audit Investigation

Due to the findings of the Audit Committee investigation to date and the ongoing restatement of the Affected Periods, the Company's previously issued financial guidance for its fiscal fourth quarter and full year 2026 should no longer be relied upon.

Endava Financial Restatement Impact Estimated at 2%-4%

Endava announced preliminary findings of the previously announced internal investigation into the accounting treatment of certain customer and supplier agreements. The Company also announced the potential impact of the findings on its previously reported financial results for fiscal 2026, including the restatement of these results, potential remedial actions and leadership changes. Additionally, the Company provided an update on the anticipated timing of reporting its financial results. As previously announced on September 21, independent outside counsel for the Audit Committee of the Company's Board of Directors has been conducting an investigation in response to the Company's outside auditors raising concerns about the Company's accounting treatment of certain customer and supplier agreements. The investigation is nearing conclusion, and the Audit Committee has largely completed its review of the findings to date. Based on that review, the Audit Committee has determined that accounting for certain agreements was incorrect and remedial actions are required. The investigation determined that certain agreements entered into by the Company in fiscal 2026 with counterparties that were both customers and suppliers either lacked economic substance or were negotiated and priced as a single arrangement. Based on the investigation's findings, management determined that the revenue recognition and balance sheet entries for the associated transactions were not in compliance with relevant accounting standards. For certain transactions, the accounting entries are being reversed, and for others, the revenue is being restated to reflect the consideration properly attributable to the services delivered. The counterparties represent approximately 1.5% of all customers as of March 31, 2026. In addition, as part of evaluating the investigation's initial findings, management has identified separate accounting errors relating to revenue recognition. As a result, the Company will be restating its previously reported fiscal 2026 financial results. Endava's preliminary estimate is that adjustments to its fiscal 2026 revenue will be equivalent to approximately 2% - 4% of the Company's prior fiscal 2025 revenue. The restatement will also include non-cash adjustments affecting certain balance sheet accounts, including those related to the revenue adjustments as well as goodwill and intangible assets, resulting in a reduction in adjusted profit before taxes. Endava does not expect any adjustments to its fiscal 2025 results and does not expect a restatement of prior fiscal years or previous periods relating to those prior fiscal years. The Company is also in the process of assessing the impact of this restatement on prior financial covenant compliance under its revolving credit facility. Management is currently in discussions with its lenders as it evaluates these matters. The Company preliminarily estimates that it had cash and cash equivalents of approximately GBP 55 million as of September 30, 2026. In connection with these findings, the Audit Committee has determined that the Company's financial results for the three months ended September 30, 2025, the three and six months ended December 31, 2025, and the three and nine months ended March 31, 2026 should no longer be relied upon, including any press releases, shareholder communications, investor presentations, and/or other communications that include or describe the financial results for the Affected Periods. This determination has been discussed with the Company's independent registered public accounting firm, although the firm's audit procedures in relation to the investigation, the fiscal 2026 audit, and the restatement of the Affected Periods remain ongoing.