Endava plc (DAVA) AI Dilution Summary

Cash was $48,376,000 at the last reported balance-sheet date of 2026-03-31, against estimated monthly burn of $123,000; these figures connect the company's stated cash position to its stated operating outflow. Dilution here is driven by equity-plan awards, which account for 7,827,447 potential new shares, equal to 19.2% of the 40,782,810 shares outstanding. These are compensation awards, not warrants or convertibles.