EPLUS INC. Files 2024 Annual Report

TL;DR

EPLUS INC. 10-K filed. FY24 results out. Check financials.

AI Summary

EPLUS INC. filed its 10-K for the fiscal year ending March 31, 2024, reporting on its operations as a provider of IT solutions and services. The filing details the company's financial performance and strategic positioning within the technology sector. EPLUS INC. is headquartered at 13595 Dulles Technology Drive, Herndon, VA.

Why It Matters

This 10-K filing provides investors and stakeholders with a comprehensive overview of EPLUS INC.'s financial health and business operations for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not contain immediate red flags or significant positive news that would alter the risk profile.

Key Numbers

• 2024-03-31 — Fiscal Year End (End date of the reporting period)
• 2024-05-23 — Filing Date (Date the 10-K was filed with the SEC)

Key Players & Entities

• EPLUS INC. (company) — Filer of the 10-K report
• 13595 DULLES TECHNOLOGY DRIVE, HERNDON, VA 20171-3413 (location) — Company's business and mailing address
• MLC HOLDINGS INC (company) — Former company name
• 001-34167 (other) — SEC file number

FAQ

Filing Documents

• ef20026293_10k.htm (10-K) — 3293KB
• ef20026293_ex10-25.htm (EX-10.25) — 27KB
• ef20026293_ex19.htm (EX-19) — 93KB
• ef20026293_ex21.htm (EX-21) — 6KB
• ef20026293_ex23.htm (EX-23) — 3KB
• ef20026293_ex31-1.htm (EX-31.1) — 12KB
• ef20026293_ex31-2.htm (EX-31.2) — 12KB
• ef20026293_ex32.htm (EX-32) — 6KB
• ef20026293_ex97-1.htm (EX-97.1) — 9KB
• 0001140361-24-027200.txt ( ) — 14828KB
• plus-20240331.xsd (EX-101.SCH) — 66KB
• plus-20240331_cal.xml (EX-101.CAL) — 111KB
• plus-20240331_def.xml (EX-101.DEF) — 463KB
• plus-20240331_lab.xml (EX-101.LAB) — 1015KB
• plus-20240331_pre.xml (EX-101.PRE) — 660KB
• ef20026293_10k_htm.xml (XML) — 3097KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 13 Item 1B. Unresolved Staff Comments 26 Item 1C. Cybersecurity 26 Item 2.

Properties

Properties 27 Item 3.

Legal Proceedings

Legal Proceedings 27 Item 4. Mine Safety Disclosures 27 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 28 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 45 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 46 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 46 Item 9A.

Controls and Procedures

Controls and Procedures 46 Item 9B. Other Information 47 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 47 Part III Item 10. Directors, Executive Officers, and Corporate Governance 48 Item 11.

Executive Compensation

Executive Compensation 48 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 48 Item 13. Certain Relationships and Related Transactions, and Director Independence 48 Item 14. Principal Accounting Fees and Services 48 Part IV Item 15. Exhibits and Financial Statement Schedules 48 Item 16. Form 10-K Summary 51

Signatures

Signatures 52 Table of Contents CAUTIONARY LANGUAGE ABOUT FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains certain statements that are, or may be deemed to be, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or "Exchange Act," and are made in reliance upon the protections provided by such acts for forward-looking statements. Such statements are not based on historical fact but are based upon numerous assumptions about future conditions that may not occur. Forward-looking statements are generally identifiable by use of forward-looking words such as "may," "should," "would," "intend," "estimate," "will," "potential," "possible," "could," "believe," "expect," "intend," "plan," "anticipate," "project," and similar expressions. Readers are cautioned not to place undue reliance on any forward-looking statements made by us or on our behalf. Forward-looking statements are made based upon information that is currently available or management's current expectations and beliefs concerning future developments and their potential effects upon us, speak only as of the date hereof, and are subject to certain risks and uncertainties. We do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur, or of which we hereafter become aware. Actual events, transactions and results may materially differ from the anticipated events, transactions, or results described in such statements. Our ability to consummate such transactions and achieve such events or results is subject to certain risks and uncertainties. Such risks and uncertainties include, but are not limited to, the matters set forth below: national and international political instability fostering uncertainty and volatility in the global economy including exposure to fluctuation in foreign c

BUSINESS

BUSINESS OUR BUSINESS e Plus inc., sometimes referred to in this Annual Report on Form 10-K as "we," "our," "us," "ourselves," or " e Plus.", has been delivering solutions for our customers since 1990. We conduct our operations through two businesses. Our technology business, consisting of our product, professional services, and managed services segments, provides technology solutions. Our technology solutions leverage third-party hardware, software, and maintenance and other services with our own advanced professional and managed services. Our financing business segment primarily provides financing of IT equipment, software, and related services. Across both businesses, we sell to commercial entities, state and local governments, government contractors, and educational institutions. OUR SOLUTIONS We are a leading provider of technology solutions across the spectrum spanning security, cloud, data center, networking, collaboration, AI, service provider and critical infrastructure, and emerging solutions, to domestic and foreign organizations across all industry segments. Our solutions are comprised of world class leading technologies from partners such as Amazon Web Services ("AWS"), Arista Networks, Check Point, Cisco Systems, Citrix, Commvault, Crowdstrike, Deepwatch, Dell EMC, F5 Networks, Foresite, Fortinet, Gigamon, HPE, Juniper Networks, Lenovo, Microsoft, NetApp, Nutanix, NVIDIA, Oracle, Palo Alto Networks, Proficio, Pure Storage, Rubrik, Splunk, Varonis, and VMware by Broadcom, among many others. Our solutions leverage a broad range of professional, consultative, and managed services, across the technology spectrum. We possess top-level engineering certifications with a broad range of leading IT technologies that enable us to offer multi-vendor IT solutions that are optimized for each of our customers' specific requirements. Underpinning the broader areas of cloud, security, AI, networking, data center and collaboration are specific skills in orchestra

View Full Filing

View this 10-K filing on SEC EDGAR