ScanSource Files 2024 10-K

TL;DR

ScanSource dropped its 2024 10-K. Check financials for the year ending 6/30.

AI Summary

ScanSource, Inc. filed its 10-K for the fiscal year ending June 30, 2024, reporting on its performance and financial condition. The company, headquartered in Greenville, SC, operates in the wholesale of computer and peripheral equipment and software. This filing provides a comprehensive overview of its business, financial statements, and risk factors for investors.

Why It Matters

This 10-K filing provides crucial financial and operational details for ScanSource, Inc., allowing investors and analysts to assess the company's performance and future prospects.

Risk Assessment

Risk Level: medium — As a public company filing a 10-K, ScanSource faces inherent risks related to market conditions, competition, and operational execution.

Key Numbers

• 2024-06-30 — Fiscal Year End (The end date of the reporting period for the 10-K.)
• 2023-06-30 — Prior Fiscal Year End (The end date of the previous reporting period for comparison.)
• 2022-06-30 — Previous Year End (Another prior year end date for historical context.)

Key Players & Entities

• SCANSOURCE, INC. (company) — Filer
• Greenville, SC (location) — Company Headquarters
• 20240630 (date) — Fiscal Year End
• 5045 (number) — Standard Industrial Classification

FAQ

Key Financial Figures

• $3.26 billion — fiscal year ended June 30, 2024 totaled $3.26 billion . Our common stock trades on the NASDAQ

Filing Documents

• scsc-20240630.htm (10-K) — 2376KB
• scansourceexhibit426302024.htm (EX-4.2) — 20KB
• scansourceex1016302024.htm (EX-10.1) — 8KB
• scansourceex10116302024.htm (EX-10.11) — 34KB
• scansourceex10126302024.htm (EX-10.12) — 14KB
• scansourceex10546302024.htm (EX-10.54) — 25KB
• scansourceex1916302024.htm (EX-19.1) — 67KB
• scansourceex2116302024.htm (EX-21.1) — 11KB
• scansourceex2316302024.htm (EX-23.1) — 3KB
• scansourceex3116302024.htm (EX-31.1) — 10KB
• scansourceex3126302024.htm (EX-31.2) — 10KB
• scansourceex3216302024.htm (EX-32.1) — 6KB
• scansourceex3226302024.htm (EX-32.2) — 6KB
• scsc-20240630_g1.jpg (GRAPHIC) — 11KB
• scsc-20240630_g2.jpg (GRAPHIC) — 258KB
• 0000918965-24-000029.txt ( ) — 12860KB
• scsc-20240630.xsd (EX-101.SCH) — 68KB
• scsc-20240630_cal.xml (EX-101.CAL) — 130KB
• scsc-20240630_def.xml (EX-101.DEF) — 329KB
• scsc-20240630_lab.xml (EX-101.LAB) — 958KB
• scsc-20240630_pre.xml (EX-101.PRE) — 670KB
• scsc-20240630_htm.xml (XML) — 1924KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act") are included in the "Business," "Risk Factors," "Legal Proceedings," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Quantitative and Qualitative Disclosures About Market Risk" sections and elsewhere herein. Words such as "expects," "anticipates," "believes," "intends," "plans," "hopes," "forecasts," "seeks," "estimates," "goals," "projects," "strategy," "future," "likely," "may," "should," "will," and variations of such words and similar expressions generally identify such forward-looking statements. Any forward-looking statement made by us in this Form 10-K is based only on information currently available to us and speaks only as of the date on which it is made. Except as may be required by law, we expressly disclaim any obligation to update these forward-looking statements to reflect events or circumstances after the date of this Annual Report on Form 10-K or otherwise. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control. You should not place undue reliance on forward-looking statements as actual results could differ materially from those anticipated in such statements as a result of a number of factors including, but not limited to the following, which are neither presented in order of importance nor weighted: macroeconomic conditions, including potential prolonged economic weakness, inflation and supply chain challenges, the failure to manage and implement the Company's growth strategy, the Company's ability to realize synergies or other benefits from acquisitions, credit risks involving the Company's larger customers and suppliers, changes in interest an

Risk Factors

Item 1A. Risk Factors 8

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 17

Cybersecurity

Item 1C. Cybersecurity 17

Properties

Item 2. Properties 18

Legal Proceedings

Item 3. Legal Proceedings 19

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 19 PART II 20

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 20

[Reserved]

Item 6. [Reserved] 21

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 22

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 38

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 39

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 80

Controls and Procedures

Item 9A. Controls and Procedures 80

Other Information

Item 9B. Other Information 80

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 80 PART III 81

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 81

Executive Compensation

Item 11. Executive Compensation 81

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 81

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 81

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 81 PART IV 82

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 82

Form 10-K Summary

Item 16. Form 10-K Summary 83

Signatures

Signatures 84 Table of Contents Index to Financial Statements PART I

Business

ITEM 1. Business. ScanSource, Inc. (together with its subsidiaries referred to as the "Company" or "ScanSource" or "we") is a leading hybrid distributor connecting devices to the cloud and accelerating growth for customers across hardware, Software as a Service ("SaaS"), connectivity and cloud. ScanSource enables customers to deliver solutions for their end users to address changing buying and consumption patterns. ScanSource sells through multiple, specialized routes-to-market with hardware, SaaS, connectivity and cloud service offerings from the world's leading technology suppliers. We provide technology solutions and services from more than 500 leading suppliers of mobility, barcode, point-of-sale ("POS"), payments, physical security, networking, unified communications, collaboration unified communications as a service ("UCaaS"), Contact Center as a Service ("CCaaS"), connectivity and cloud services. ScanSource was incorporated in South Carolina in 1992 and serves approximately 25,000 customers. Net sales for fiscal year ended June 30, 2024 totaled $3.26 billion . Our common stock trades on the NASDAQ Global Se lect Market under the symbol "SCSC." Our customers include businesses of all sizes that sell to end-customers across many industries. Our customer channels include value-added resellers ("VARs"), customers or agents, independent sales organizations ("ISOs") and independent software vendors ("ISVs"). These customer channels provide us with multiple routes-to-market. We align our teams, tools and processes around all of our customers to help them grow through reducing their costs, creating efficiencies and generating end-customer demand for business solutions. We enable our customers to create, deliver and grow hybrid technology offerings for end-customers across almost every vertical market in the United States, Canada, and Brazil. Strategy Our strategy is to drive sustainable, profitable growth by orchestrating hybrid technology solutions through

View Full Filing

View this 10-K filing on SEC EDGAR