Eplus Inc. Files Q1 2025 10-Q Financial Report

TL;DR

EPLUS Q1 24 results are in. Check the 10-Q for details.

AI Summary

Eplus Inc. filed its 10-Q for the period ending June 30, 2024, reporting financial results. The company's fiscal year ends on March 31st. Specific financial figures for the quarter and year-to-date are detailed within the filing, including product and service revenues.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Eplus Inc., crucial for evaluating the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 2024-06-30 — End of Reporting Period (Indicates the close of the fiscal quarter for which financial data is reported.)
• 2024-08-07 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• EPLUS INC (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240807 (date) — Filing date
• 0001022408 (company) — Central Index Key for Eplus Inc.

FAQ

Filing Documents

• ef20030136_10q.htm (10-Q) — 2165KB
• ef20030136_ex31-1.htm (EX-31.1) — 13KB
• ef20030136_ex31-2.htm (EX-31.2) — 12KB
• ef20030136_ex32.htm (EX-32) — 7KB
• image00001.jpg (GRAPHIC) — 2KB
• 0001140361-24-035956.txt ( ) — 9925KB
• plus-20240630.xsd (EX-101.SCH) — 47KB
• plus-20240630_cal.xml (EX-101.CAL) — 69KB
• plus-20240630_def.xml (EX-101.DEF) — 275KB
• plus-20240630_lab.xml (EX-101.LAB) — 691KB
• plus-20240630_pre.xml (EX-101.PRE) — 427KB
• ef20030136_10q_htm.xml (XML) — 2092KB

Financial Information

Part I. Financial Information: Item 1.

Financial Statements

Financial Statements Unaudited Consolidated Balance Sheets as of June 30, 2024, and March 31, 2024 5 Unaudited Consolidated Statements of Operations for the Three Months Ended June 30, 2024, and 2023 6 Unaudited Consolidated Statements of Comprehensive Income for the Three Months Ended June 30, 2024, and 2023 7 Unaudited Consolidated Statements of Cash Flows for the Three Months Ended June 30, 2024, and 2023 8 Unaudited Consolidated Statements of Stockholders' Equity for the Three Months Ended June 30, 2024, and 2023 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 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 42 Item 4.

Controls and Procedures

Controls and Procedures 43

Other Information

Part II. Other Information: Item 1.

Legal Proceedings

Legal Proceedings 44 Item 1A.

Risk Factors

Risk Factors 44 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44 Item 3. Defaults Upon Senior Securities 44 Item 4. Mine Safety Disclosures 44 Item 5. Other Information 44 Item 6. Exhibits 45

Signatures

Signatures 46 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 later 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: exposure to fluctuation in foreign currency rates, interest rates, and inflation, including as a result of national and international political instab

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) June 30, 2024 March 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 349,909 $ 253,021 Accounts receivable—trade, net 577,019 644,616 Accounts receivable—other, net 54,987 46,884 Inventories 89,134 139,690 Financing receivables—net, current 109,119 102,600 Deferred costs 59,985 59,449 Other current assets 23,951 27,269 Total current assets 1,264,104 1,273,529 Financing receivables and operating leases—net 85,032 79,435 Deferred tax asset 5,620 5,620 Property, equipment, and other assets—net 94,417 89,289 Goodwill 161,508 161,503 Other intangible assets—net 40,292 44,093 TOTAL ASSETS $ 1,650,973 $ 1,653,469 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Current liabilities: Accounts payable $ 270,614 $ 315,676 Accounts payable—floor plan 119,511 105,104 Salaries and commissions payable 40,491 43,696 Deferred revenue 138,619 134,596 Non-recourse notes payable—current 29,898 23,288 Other current liabilities 29,103 34,630 Total current liabilities 628,236 656,990 Non-recourse notes payable - long-term 10,854 12,901 Other liabilities 89,955 81,799 TOTAL LIABILITIES 729,045 751,690 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; 26,940 outstanding at June 30 , 2024 and 26,952 outstanding at March 31 , 2024 276 274 Additional paid-in capital 184,733 180,058 Treasury stock, at cost, 609 shares at June 30 , 2024 and 447 shares at March 31 , 2024 ( 35,746 ) ( 23,811 ) Retained earnings 770,317 742,978 Accumulated other comprehensive income—foreign currency translation adjustment 2,348 2,280

View Full Filing

View this 10-Q filing on SEC EDGAR