ScanSource, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>ScanSource, Inc. filed its Q3 2024 10-Q report on May 7, 2024, detailing financial performance and position.</b>

AI Summary

SCANSOURCE, INC. (SCSC) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. ScanSource, Inc. filed a 10-Q report on May 7, 2024, for the period ending March 31, 2024. The filing covers the third quarter of their fiscal year. The company's fiscal year ends on June 30. The filing includes financial data for various periods, including Q3 2024 and year-to-date 2024. Key financial statement elements like Common Stock, Retained Earnings, and Accumulated Other Comprehensive Income are detailed as of specific dates.

Why It Matters

For investors and stakeholders tracking SCANSOURCE, INC., this filing contains several important signals. This 10-Q filing provides investors with an updated view of ScanSource's financial health and operational performance for the third quarter of fiscal year 2024. The detailed financial data allows stakeholders to assess trends, compare performance against previous periods, and make informed investment decisions.

Risk Assessment

Risk Level: low — SCANSOURCE, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Monitor future 10-Q filings for revenue growth, profitability trends, and any changes in debt levels to assess ScanSource's ongoing financial performance.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-07 — Filing Date (Filed as of date)
• 0630 — Fiscal Year End (Fiscal year end)
• Q3 — Quarter (Filing quarter)

Key Players & Entities

• SCANSOURCE, INC. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-07 (date) — Filed as of date
• 0000918965 (company) — Central Index Key
• 6 LOGUE COURT (address) — Business address street 1
• GREENVILLE (location) — Business address city
• SC (location) — Business address state
• 29615 (postal_code) — Business address zip

FAQ

Industry Context

ScanSource, Inc. operates in the wholesale distribution of computer and peripheral equipment and software industry.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly reports (10-Q).

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management's discussion and analysis.
2. Compare ScanSource's Q3 2024 performance against industry benchmarks and competitors.
3. Track any future SEC filings for updates on financial performance and strategic initiatives.

Key Dates

• 2024-03-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-05-07: Filing Date — Date ScanSource, Inc. submitted its 10-Q report to the SEC.

Year-Over-Year Comparison

This filing is a standard quarterly report (10-Q) and does not provide direct comparative data within this header section against a previous filing.

Filing Documents

• scsc-20240331.htm (10-Q) — 1726KB
• exhibit31amendedandrestate.htm (EX-3.1) — 113KB
• exhibit101suspensionofrigh.htm (EX-10.1) — 14KB
• scansourceex3113312024.htm (EX-31.1) — 10KB
• scansourceex3123312024.htm (EX-31.2) — 10KB
• scansourceex3213312024.htm (EX-32.1) — 6KB
• scansourceex3223312024.htm (EX-32.2) — 6KB
• scsc-20240331_g1.jpg (GRAPHIC) — 7KB
• 0000918965-24-000014.txt (&nbsp;) — 7415KB
• scsc-20240331.xsd (EX-101.SCH) — 41KB
• scsc-20240331_cal.xml (EX-101.CAL) — 67KB
• scsc-20240331_def.xml (EX-101.DEF) — 158KB
• scsc-20240331_lab.xml (EX-101.LAB) — 540KB
• scsc-20240331_pre.xml (EX-101.PRE) — 376KB
• scsc-20240331_htm.xml (XML) — 1108KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 5 Condensed Consolidated Balance Sheets (unaudited) at March 31, 202 4 and June 30, 2023 5 Condensed Consolidated Income Statements (unaudited) for the Quarters and Nine Months Ended March 31, 202 4 and 202 3 6 Condensed Consolidated Statements of Comprehensive Income (unaudited) for the Quarters and Nine Months Ended March 31, 202 4 and 202 3 7 Condensed Consolidated Statements of Shareholders' Equity (unaudited) for the Quarters and Nine Months Ended March 31, 202 4 and 202 3 8 Condensed Consolidated Statements of Cash Flows (unaudited) for the Nine Months Ended March 31, 202 4 and 202 3 10 Notes to Condensed Consolidated Financial Statements (unaudited) 11

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 44

Controls and Procedures

Item 4. Controls and Procedures 45

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 46

Risk Factors

Item 1A. Risk Factors 46

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46

Other Information

Item 5. Other Information 47

Exhibits

Item 6. Exhibits 48

SIGNATURES

SIGNATURES 49 3 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Forward-looking statements are included in the "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-Q 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 Quarterly Report on Form 10-Q. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a number of factors including, but not limited to the following factors, 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 organic growth strategy, credit risks involving the Company's larger customers and suppliers, changes in interest and exchange rates and regulatory regimes impacting the Company's international operations, risk to the Company's business from a cyber attack, a failure of the Company's IT systems, failure to hire and retain quality employees, loss of the Company's major customers, relationships with the Company's key suppliers and sales partners or a termination or a significant modification of the terms under which it operates with such suppliers and sales partners, changes in the Company's operating strategy and

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements SCANSOURCE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (In thousands, except share information) March 31, 2024 June 30, 2023 Assets Current assets: Cash and cash equivalents $ 159,050 $ 36,178 Accounts receivable, less allowance of $ 19,566 at March 31, 2024 and $ 15,480 at June 30, 2023 589,847 753,236 Inventories 529,163 757,574 Prepaid expenses and other current assets 138,100 110,087 Total current assets 1,416,160 1,657,075 Property and equipment, net 35,594 37,379 Goodwill 207,616 216,706 Identifiable intangible assets, net 41,510 68,495 Deferred income taxes 19,231 17,764 Other non-current assets 62,877 70,750 Total assets $ 1,782,988 $ 2,068,169 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 555,733 $ 691,119 Accrued expenses and other current liabilities 74,664 78,892 Income taxes payable 4,792 9,875 Current portion of long-term debt 7,857 6,915 Total current liabilities 643,046 786,801 Deferred income taxes — 3,816 Long-term debt, net of current portion 138,024 144,006 Borrowings under revolving credit facility — 178,980 Other long-term liabilities 57,867 49,268 Total liabilities 838,937 1,162,871 Commitments and contingencies Shareholders' equity: Preferred stock, no par value; 3,000,000 shares authorized, none issued — — Common stock, no par value; 45,000,000 shares authorized, 24,708,808 and 24,844,203 shares issued and outstanding at March 31, 2024 and June 30, 2023, respectively 46,426 58,241 Retained earnings 997,642 936,678 Accumulated other comprehensive loss ( 100,017 ) ( 89,621 ) Total shareholders' equity 944,051 905,298 Total liabilities and shareholders' equity $ 1,782,988 $ 2,068,169 June 30, 2023 amounts are derived from audited consolidated financial statements. See accompanying notes to these condensed consolidated financial statements. 5 Table of Contents SCANSOURCE, INC. AND SUBSIDIARIES COND

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