Endava is a technology services firm that helps enterprises design, build, and run software. Endava's clients are primarily large organizations in financial services, technology, media, telecom, healthcare, and mobility, and Endava is engaged primarily to tackle digital transformation challenges — modernizing legacy systems, building new digital products, and embedding AI into operations. Endava sells almost entirely to enterprises in the UK, Europe, and North America, with a direct sales model organized around industry verticals. As of FY25, Endava had 619 active clients, with the top 10 accounting for about 36% of revenue. Endava is primarily a time-and-materials business — clients pay for engineering days delivered — so revenue is driven by headcount, utilization, and billing rates. Because Endava delivers work from lower-cost locations in Central/Eastern Europe and Latin America for clients in the UK, US, and Western Europe, it benefits from a labor arbitrage model. About 23% of FY25 revenue was fixed-price or outcome-based, and Endava is gradually shifting toward outcome- and transaction-based pricing structures. Endava's largest verticals are banking and capital markets (its fastest-growing) and payments (historically its largest, but now in decline). Healthcare has become a meaningful vertical following the April 2024 acquisition of GalaxE Group. Endava's strategy focuses on expanding into core legacy system modernization, transitioning to AI-native delivery through a framework called "Endava Flow," and diversifying geographically and by vertical away from its historical concentration in payments and the UK.