Eplus Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Eplus Inc. has filed its Q3 2024 10-Q report, detailing financial performance and operations as of December 31, 2023.</b>

AI Summary

EPLUS INC (PLUS) filed a Quarterly Report (10-Q) with the SEC on February 7, 2024. Eplus Inc. filed its 10-Q report for the period ending December 31, 2023. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on March 31st. Eplus Inc. is incorporated in Delaware. The company's principal business address is in Herndon, VA.

Why It Matters

For investors and stakeholders tracking EPLUS INC, this filing contains several important signals. This filing provides investors with an updated view of Eplus Inc.'s financial health and operational status for the most recent quarter. Understanding the details within this 10-Q is crucial for assessing the company's performance against its fiscal year-end targets and market expectations.

Risk Assessment

Risk Level: low — EPLUS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain unusual or high-risk disclosures, indicating a routine update on the company's financial status.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to identify any emerging trends or significant changes in Eplus Inc.'s performance.

Key Numbers

• 2023-12-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-02-07 — Filing Date (FILED AS OF DATE)
• 03-31 — Fiscal Year End (FISCAL YEAR END)

Key Players & Entities

• EPLUS INC (company) — FILER
• 0001140361-24-005910 (other) — ACCESSION NUMBER
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240207 (date) — FILED AS OF DATE
• 0001022408 (company) — CENTRAL INDEX KEY
• DE (jurisdiction) — STATE OF INCORPORATION
• 0331 (date) — FISCAL YEAR END
• 13595 DULLES TECHNOLOGY DRIVE (address) — BUSINESS ADDRESS

FAQ

Industry Context

Eplus Inc. operates in the wholesale trade sector, specifically focusing on computer and peripheral equipment and software.

Regulatory Implications

The filing is a standard 10-Q, a quarterly report required by the Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow trends.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business performance and outlook.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2023-12-31: Period End Date — End of the reporting period for the 10-Q filing.
• 2024-02-07: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending December 31, 2023, providing an update from previous filings.

Filing Documents

• ef20015351_10q.htm (10-Q) — 3110KB
• ef20015351_ex31-1.htm (EX-31.1) — 12KB
• ef20015351_ex31-2.htm (EX-31.2) — 12KB
• ef20015351_ex32.htm (EX-32) — 6KB
• 0001140361-24-005910.txt (&nbsp;) — 12991KB
• plus-20231231.xsd (EX-101.SCH) — 48KB
• plus-20231231_cal.xml (EX-101.CAL) — 69KB
• plus-20231231_def.xml (EX-101.DEF) — 320KB
• plus-20231231_lab.xml (EX-101.LAB) — 716KB
• plus-20231231_pre.xml (EX-101.PRE) — 453KB
• ef20015351_10q_htm.xml (XML) — 3155KB

Financial Information

Part I. Financial Information: Item 1.

Financial Statements

Financial Statements Unaudited Consolidated Balance Sheets as of December 31, 2023, and March 31, 2023 5 Unaudited Consolidated Statements of Operations for the Three and Nine Months Ended December 31, 2023, and 2022 6 Unaudited Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended December 31, 2023, and 2022 7 Unaudited Consolidated Statements of Cash Flows for the Nine Months Ended December 31, 2023, and 2022 8 Unaudited Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended December 31, 2023, and 2022 10 Notes to Unaudited Consolidated Financial Statements 11 Item 2.

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 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 47 Item 4.

Controls and Procedures

Controls and Procedures 47

Other Information

Part II. Other Information: Item 1.

Legal Proceedings

Legal Proceedings 48 Item 1A.

Risk Factors

Risk Factors 48 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 48 Item 3. Defaults Upon Senior Securities 49 Item 4. Mine Safety Disclosures 49 Item 5. Other Information 49 Item 6. Exhibits 49

Signatures

Signatures 51 2 Table of Contents CAUTIONARY LANGUAGE ABOUT FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q 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 f

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements e Plus inc. AND SUBSIDIARIES UNAUDITED CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts) December 31, 2023 March 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 142,170 $ 103,093 Accounts receivable—trade, net 597,363 504,122 Accounts receivable—other, net 50,055 55,508 Inventories 218,046 243,286 Financing receivables—net, current 110,344 89,829 Deferred costs 54,279 44,191 Other current assets 47,057 55,101 Total current assets 1,219,314 1,095,130 Financing receivables and operating leases—net 87,012 84,417 Deferred tax asset 3,682 3,682 Property, equipment, and other assets—net 84,335 70,447 Goodwill 158,284 136,105 Other intangible assets—net 42,970 25,045 TOTAL ASSETS $ 1,595,597 $ 1,414,826 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Current liabilities: Accounts payable $ 294,705 $ 220,159 Accounts payable—floor plan 92,518 134,615 Salaries and commissions payable 45,372 37,336 Deferred revenue 130,352 114,028 Recourse notes payable—current - 5,997 Non-recourse notes payable—current 36,165 24,819 Other current liabilities 32,351 24,372 Total current liabilities 631,463 561,326 Non-recourse notes payable - long-term 12,233 9,522 Deferred tax liability 561 715 Other liabilities 73,587 60,998 TOTAL LIABILITIES 717,844 632,561 COMMITMENTS AND CONTINGENCIES ( Note 9 ) STOCKHOLDERS' EQUITY Preferred stock, $ 0.01 per share par value; 2,000 shares authorized; none outstanding - - Common stock, $ 0.01 per share par value; 50,000 shares authorized; 26,954 outstanding at December 31 , 2023 and 26,905 outstanding at March 31 , 2023 274 272 Additional paid-in capital 177,465 167,303 Treasury stock, at cost, 446 shares at December 31 , 2023 and 261 shares at March 31 , 2023 ( 23,774 ) ( 14,080 ) Retained earnings 720,995 627,202 Accu

View Full Filing

View this 10-Q filing on SEC EDGAR