Insight Enterprises Files 2024 10-K
Ticker: NSIT · Form: 10-K · Filed: Feb 14, 2025 · CIK: 932696
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
Insight Enterprises filed its 2024 10-K, detailing financials for the year ending Dec 31, 2024.
AI Summary
Insight Enterprises Inc. filed its 2024 10-K on February 14, 2025, detailing its financial performance for the fiscal year ending December 31, 2024. The company, headquartered in Chandler, Arizona, operates within the retail catalog and mail-order houses sector. The filing provides comprehensive financial data and business operations for the period.
Why It Matters
This 10-K filing provides investors and analysts with a detailed overview of Insight Enterprises' financial health, operational performance, and strategic positioning for the fiscal year 2024.
Risk Assessment
Risk Level: medium — The filing is a standard annual report and does not inherently contain new, high-risk information.
Key Numbers
- 2024 — Fiscal Year (Reporting period for the 10-K)
- 1231 — Fiscal Year End (End date of the reporting period)
- 000-25092 — SEC File Number (Company's SEC filing identifier)
Key Players & Entities
- INSIGHT ENTERPRISES INC (company) — Filer
- 0000932696 (company) — Central Index Key
- CHANDLER (location) — Business Address City
- AZ (location) — Business Address State
- 20241231 (date) — Fiscal Year End
- 20250214 (date) — Filing Date
FAQ
What is the primary business of Insight Enterprises Inc. as indicated by its SIC code?
Insight Enterprises Inc. is classified under SIC code 5961, which corresponds to Retail - Catalog & Mail-Order Houses.
On what date was this 10-K filing submitted to the SEC?
This 10-K filing was submitted on February 14, 2025.
What is the principal executive office location for Insight Enterprises Inc.?
The principal executive office is located at 2701 E Insight Way, Chandler, AZ 85286.
For which fiscal year does this 10-K report provide financial information?
This 10-K report provides financial information for the fiscal year ending December 31, 2024.
What is the company's state of incorporation?
Insight Enterprises Inc. is incorporated in Delaware (DE).
Filing Stats: 4,373 words · 17 min read · ~15 pages · Grade level 16.9 · Accepted 2025-02-14 17:10:52
Key Financial Figures
- $0.01 — ich registered Common stock, par value $0.01 NSIT The NASDAQ Global Select Market
- $4.9 — enterprise IT spend is forecasted to be $4.9 trillion by 2027 according to Gartner,
- $780 billion — essable market represents approximately $780 billion in annual sales and for the year ended
- $8.7 billion — ded December 31, 2024, our net sales of $8.7 billion represented approximately 1% of that hi
Filing Documents
- nsit-20241231.htm (10-K) — 2295KB
- exhibit191.htm (EX-19.1) — 70KB
- exhibit_21.htm (EX-21) — 5KB
- exhibit231.htm (EX-23.1) — 2KB
- powerofattorneyfortimoth.htm (EX-24.1) — 2KB
- powerofattorneyforrichar.htm (EX-24.2) — 1KB
- powerofattorneyforbrucew.htm (EX-24.3) — 3KB
- powerofattorneyforalexan.htm (EX-24.4) — 2KB
- powerofattorneyforlindam.htm (EX-24.5) — 1KB
- powerofattorneyforcather.htm (EX-24.6) — 2KB
- powerofattorneyforanthon.htm (EX-24.7) — 2KB
- powerofattorneyforkathle.htm (EX-24.8) — 1KB
- powerofattorneyforgirish.htm (EX-24.9) — 1KB
- powerofattorneyforjanetf.htm (EX-24.10) — 3KB
- powerofattorneyforthomas.htm (EX-24.11) — 2KB
- nsit-20241231x10qexx311.htm (EX-31.1) — 10KB
- nsit-20241231exx312.htm (EX-31.2) — 10KB
- nsit-20241231x10qexx321.htm (EX-32.1) — 7KB
- exhibit_21001.jpg (GRAPHIC) — 149KB
- exhibit_21002.jpg (GRAPHIC) — 167KB
- exhibit_21003.jpg (GRAPHIC) — 62KB
- nsit-20241231_g1.jpg (GRAPHIC) — 4KB
- nsit-20241231_g2.jpg (GRAPHIC) — 116KB
- powerofattorneyforalexan001.jpg (GRAPHIC) — 105KB
- powerofattorneyforanthon001.jpg (GRAPHIC) — 104KB
- powerofattorneyforbrucew001.jpg (GRAPHIC) — 104KB
- powerofattorneyforbrucew002.jpg (GRAPHIC) — 114KB
- powerofattorneyforcather001.jpg (GRAPHIC) — 107KB
- powerofattorneyforgirish001.jpg (GRAPHIC) — 208KB
- powerofattorneyforjanetf001.jpg (GRAPHIC) — 104KB
- powerofattorneyforjanetf002.jpg (GRAPHIC) — 111KB
- powerofattorneyforkathle001.jpg (GRAPHIC) — 107KB
- powerofattorneyforlindam001.jpg (GRAPHIC) — 72KB
- powerofattorneyforrichar001.jpg (GRAPHIC) — 107KB
- powerofattorneyforthomas001.jpg (GRAPHIC) — 104KB
- powerofattorneyfortimoth001.jpg (GRAPHIC) — 107KB
- 0001628280-25-005817.txt ( ) — 15092KB
- nsit-20241231.xsd (EX-101.SCH) — 84KB
- nsit-20241231_cal.xml (EX-101.CAL) — 108KB
- nsit-20241231_def.xml (EX-101.DEF) — 402KB
- nsit-20241231_lab.xml (EX-101.LAB) — 917KB
- nsit-20241231_pre.xml (EX-101.PRE) — 688KB
- nsit-20241231_htm.xml (XML) — 1978KB
Business
Business 3 ITEM 1A.
Risk Factors
Risk Factors 12 ITEM 1B. Unresolved Staff Comments 23 ITEM 1C. Cybersecurity 23 ITEM 2.
Properties
Properties 25 ITEM 3.
Legal Proceedings
Legal Proceedings 26 ITEM 4. Mine Safety Disclosures 26 PART II ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27 ITEM 6. [Reserved] 28 ITEM 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 29 ITEM 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 46 ITEM 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 47 ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 98 ITEM 9A.
Controls and Procedures
Controls and Procedures 98 ITEM 9B. Other Information 98 ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 99 PART III ITEM 10. Directors, Executive Officers and Corporate Governance 100 ITEM 11.
Executive Compensation
Executive Compensation 100 ITEM 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 100 ITEM 13. Certain Relationships and Related Transactions, and Director Independence 100 ITEM 14. Principal Accountant Fees and Services 100 PART IV ITEM 15. Exhibits and Financial Statement Schedules 101 ITEM 16. Form 10-K Summary 101 EXHIBITS TO FORM 10-K 102
SIGNATURES
SIGNATURES 107 INSIGHT ENTERPRISES, INC.
FORWARD-LOOKING STATEMENTS
FORWARD-LOOKING STATEMENTS References to "the Company," "Insight," "we," "us," "our" and other similar words refer to Insight Enterprises, Inc. and its consolidated subsidiaries, unless the context suggests otherwise. Certain statements in this Annual Report on Form 10-K, including statements in "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 of this report, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include: projections of, and matters that affect, net sales, gross profit, gross margin, operating expenses, earnings from operations, non-operating income and expenses, net earnings or cash flows, cash needs and the payment of accrued expenses and liabilities; our expectations regarding supply constraints, including our belief that remaining supply constraints have normalized back to near historic levels; our belief that the general slowdown in our clients' decision making will continue in the short term; our expectations regarding certain trends for our business , including that lower sales of devices and infrastructure could continue into 2025 and that gross margin expansion could continue into future periods as we focus on selling solutions and increasing our services net sales ; our expectation that transformation costs are not expected to recur in the longer term; the expected effects of seasonality on our business, including as a result of recent acquisitions; expectations of further consolidation and trends in the Information Technology ("IT") industry; our business strategy and our strategic initiatives, including our efforts to grow our core business in the current environment, develop and grow our global cloud business and build scalable solutions; expectations regarding the impact of partner incentives and changes to partner incentive programs, including our belief that we may not experience signific
Business
Item 1. Business Our Company Today, every business is a technology business. We help our clients accelerate their digital journey to modernize their businesses and maximize the value of technology. We serve these clients in North America; Europe, the Middle East and Africa ("EMEA"); and Asia-Pacific ("APAC"). As a Fortune 500-ranked solutions integrator, we enable secure, end-to-end digital transformation and meet the needs of our clients through a comprehensive portfolio of solutions, far-reaching partnerships and 36 years of broad IT expertise. We amplify our solutions and services with global scale, local expertise and our e-commerce experience, enabling our clients to realize their digital ambitions in multiple ways. The Company is organized in the following three operating segments, which are primarily defined by their related geographies: Operating Segment* Geography Percent of 2024 Consolidated Net Sales North America United States and Canada 81% EMEA Europe, Middle East and Africa 16% APAC Asia-Pacific 3% * Additional detailed segment and geographic information can be found in "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 and in Note 19 to the Consolidated Financial Statements in Part II, Item 8 of this report. Insight began operations in Arizona in 1988, incorporated in Delaware in 1991 and completed its initial public offering in 1995. Our corporate headquarters are located in Chandler, Arizona. From our original location in the United States, we expanded nationwide and then entered Canada in 1997 and the United Kingdom in 1998. Through a combination of acquisitions and organic growth, we continued to increase our geographic coverage and expand our technical capabilities. Our acquisitions were as follows: Prior to 2019, we acquired Software Spectrum, Inc. (2006), Calence, LLC (2008), MINX Limited (2008), Ensynch, Inc. (2011), Inmac GmbH (2012), Micro Warehouse BV (2012), BlueMetal A