Financial Data and Key Metrics Changes - Consolidated net sales increased by 12.7% year-over-year to $554.5 million, driven by a 12.6% increase in the Technology business [31] - Consolidated gross profit was $130.3 million with a gross margin of 23.5%, down from $132.3 million and 26.9% in the previous year [32] - Consolidated operating income declined from $42.4 million to $29 million, primarily due to lower gross profit from product sales and higher operating expenses [33] - Consolidated adjusted EBITDA decreased to $36.8 million compared to $48.7 million in the prior year [34] - Cash and cash equivalents totaled $253 million at the end of fiscal 2024, a significant increase from $103.1 million at the end of the prior year [36] Business Line Data and Key Metrics Changes - Product revenue grew 12.2% to $465.2 million, with strong demand for networking equipment and Cloud products [13] - Service revenue increased 14.8% to $78.9 million, led by managed services which grew 22% [7] - Financing segment revenue increased 15.5% to $10.4 million, driven by transactional gains and portfolio earnings [54] Market Data and Key Metrics Changes - The Technology business reported net sales of $544.1 million for the quarter, with significant contributions from telecom, media, entertainment, and technology sectors [54] - The effective tax rate for fiscal 2024 was 28.1%, compared to 26.8% for fiscal 2023 [58] Company Strategy and Development Direction - The company is focused on high-growth areas such as AI, Cloud, Networking, and Security, with plans for strategic acquisitions and investments in customer-facing personnel [5][20] - The land and expand strategy is being employed to capture market share and grow the customer base, despite lower margins in the short term [25][73] - The company aims to enhance and broaden its product and service offerings to align with market transitions and customer needs [20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging economic environment but expressed confidence in returning gross margins to normalized levels in fiscal year 2025 [28] - The company expects net sales growth of 3% to 6% for fiscal year 2025, with adjusted EBITDA projected between $200 million and $215 million [60] - There is strong interest in the AI Ignite program, which is still in the early stages of customer engagement [10][79] Other Important Information - The company added over 300 new customers during the year, nearly double the typical annual addition [83] - A new share buyback plan of up to 1.25 million shares was approved by the board [37] Q&A Session Summary Question: Did the revenue pushouts from fiscal Q3 materialize in Q4? - Management indicated that Q4 was a tale of two quarters, with strong volume but lower margins due to enterprise sales [42] Question: How should seasonality be considered in the revenue outlook for fiscal '25? - Management expects Q2 and Q3 to be stronger quarters, with a back-ended revenue growth pattern [46] Question: What factors give confidence in returning to normalized gross margins? - Management cited that product margins were down due to larger enterprise deals, but service margins improved, indicating potential for normalization [63] Question: How does the company plan to manage operating expenses while growing? - Management mentioned investments in sales and services to build capabilities, which are expected to yield operating leverage over time [50][67] Question: How does the company view the impact of AI on customer decision-making? - Management noted that AI has delayed some customer decisions as they evaluate infrastructure needs [51][79] Question: How does the addition of 300 customers compare to previous years? - Management indicated that this addition is significantly higher than the typical range, which is around 150 [83] Question: Why has the company outperformed the market despite product bottlenecks? - Management attributed this to backlog management and strong relationships with key vendors like Cisco [84]

EPlus (PLUS) came out with quarterly earnings of $0.93 per share, missing the Zacks Consensus Estimate of $1.17 per share. This compares to earnings of $1.36 per share a year ago. These figures are adjusted for non- recurring items. This quarterly report represents an earnings surprise of -20.51%. A quarter ago, it was expected that this computer products reseller would post earnings of $1.38 per share when it actually produced earnings of $1.18, delivering a surprise of -14.49%. Over the last four quarters ...

Revenue Breakdown - For the year ended March 31, 2024, the technology business accounted for 98% of net sales, with 85% from the product segment, 7% from professional services, and 6% from managed services[24]. - Revenue by customer end market includes 25% from telecommunications, media and entertainment, 17% from technology, 15% from state and local government and educational institutions, 13% from healthcare, and 11% from financial services[22]. - Sales to Verizon Communications Inc. represented 19%, 22%, and 24% of net sales for the years ended March 31, 2024, 2023, and 2022, respectively[22]. - The financing business segment accounted for 2% of net sales and 16% of operating income for the year ended March 31, 2024[24]. - For the year ended March 31, 2024, the three largest distributors accounted for over 25% of product segment net sales[71]. Market Trends and Strategies - The company focuses on multi-cloud strategies to assist customers in aligning cloud strategy with business objectives and optimizing cloud deployments for cost and security[25]. - The company has identified increasing sophistication and incidences of IT security breaches as a significant market trend, necessitating enhanced cybersecurity measures[26]. - The company aims to address the lack of sufficient internal IT resources at mid-sized and large enterprises, which is driving demand for third-party services[29][31]. - The company anticipates continued competition from local, regional, national, and international firms, as well as from disruptive technologies impacting the IT solutions market[32][33]. - The company recognizes AI as a potentially transformational force that will significantly impact product offerings and business operations in the long run[70]. Investment and Growth - The company is investing in engineering and technology resources to stay at the forefront of technology trends, particularly in cloud and managed services[20]. - The company achieved a compound annual growth rate of 8.8% in net sales and 8.9% in consolidated gross profit from fiscal year 2020 to fiscal year 2024[54]. - The company has successfully integrated nearly 30 acquisitions since 1997, focusing on broadening product offerings and geographic reach[51]. - The company aims to expand its geographic footprint and improve technology delivery capabilities in international markets[60]. Employee Development and Workforce - The employee count increased by 20.3% from March 31, 2020, to March 31, 2024, with 82.2% of the increase in customer-facing roles[55]. - The company focuses on recruiting and developing employees, offering professional development programs and competitive compensation[61]. - The sales and marketing department saw an increase of 75 employees, while professional services added 66 employees compared to the previous year[79]. - As of March 31, 2024, the company employed a total of 1,900 employees, an increase of 146 from the previous year[76][79]. - The GRIT program has graduated over 300 participants since its inception, focusing on introducing middle school girls to technology careers[78]. Technology and Solutions - The technology solutions offered leverage partnerships with leading firms such as AWS, Cisco, and Microsoft, among others[18]. - The managed services segment includes offerings such as AWS, Microsoft Azure, and Managed Security Services, enhancing customer experience through integrated solutions[59]. - The company has a strategic focus on cloud solutions, leveraging partnerships with leading vendors to assist customers in their cloud journey[48]. - The company provides enhanced financing solutions that automate the IT procurement process, reducing costs for customers[42]. Risk Management - The company has implemented conservative underwriting policies and disciplined credit approval processes to manage risk[72]. - The company has seen an increase in interest rate risks and foreign currency risks due to market volatility and inflation[313]. - The company has foreign currency exposure primarily in British Pounds, Euros, and Indian Rupees, but believes it will not materially affect its financial position[315][316]. - The company has adopted an Employee Stock Purchase Plan in 2022 to enhance employee relations and retention[80]. Operational Efficiencies - The company emphasizes operational efficiencies through investments in technology infrastructure and process re-engineering[62].

EXHIBIT 99.1 ePlus Reports Fourth Quarter and Fiscal Year 2024 Financial Results and Announces New Share Repurchase Program - Return to Double Digit Net Sales Growth in 4Q Marked a Strong Close to The Year - Fourth Quarter Fiscal Year 2024 Fiscal Year 2024 HERNDON, VA – May 22, 2024 – ePlus inc. (NASDAQ: PLUS), a leading provider of technology and financing solutions, today announced financial results for the three months and fiscal year ended March 31, 2024. Management Comment "ePlus returned to double dig ...

- Return to Double Digit Net Sales Growth in 4Q Marked a Strong Close to The Year - HERNDON, Va., May 22, 2024 /PRNewswire/ -- Fourth Quarter Fiscal Year 2024 Fiscal Year 2024 ePlus inc. (NASDAQ: PLUS), a leading provider of technology and financing solutions, today announced financial results for the three months and fiscal year ended March 31, 2024. Management Comment "ePlus returned to double digit revenue growth in the quarter to finish out a strong year. For the quarter, technology business revenue gre ...

| Date: | May 22, 2024 | | --- | --- | | Time: | 4:30 p.m. ET | | Audio Webcast (Live & Replay): | https://events.q4inc.com/attendee/690482659 | | Live Call: | (888) 596-4144 (toll-free/domestic) | | | (646) 968-2525 (international) | | Archived Call: | (800) 770-2030 (toll-free/domestic) | | | (609) 800-9909 (international) | | Conference ID: | 6354397# (live call and replay) | A replay of the call will be available approximately two hours after the call through May 29, 2024. HERNDON, Va., May 15, 2024 /PR ...

HERNDON, Va., May 10, 2024 /PRNewswire/ -- ePlus inc. (NASDAQ NGS: PLUS – news) today announced that it has been named Growth Partner of the Year by Varonis. ePlus was selected because of its demonstrated ability to leverage its deep knowledge of Varonis technology while helping organizations maximize the value from their investments. Working closely with Varonis, ePlus helps customers improve their data security posture and stay ahead of cyber threats by better securing their critical data. Earlier this ye ...

HERNDON, Va., May 9, 2024 /PRNewswire/ -- ePlus inc. (NASDAQ NGS: PLUS – news) today announced Binary Defense as a new Tier 2 Managed Detection and Response (MDR) partner for ePlus. Binary Defense collaborates closely with organizations by customizing its MDR solution to meet their specific needs, including security posture, individual risks, and business priorities. Through the combination of its unique Open XDR strategy and attacker mindset, Binary Defense delivers accelerated detection, investigation, an ...

HERNDON, Va., April 16, 2024 /PRNewswire/ -- ePlus inc. (NASDAQ NGS: PLUS) (news) announced today that it has attained Amazon Web Services (AWS) Migration Competency status. This designation recognizes that ePlus has demonstrated expertise in helping customers accelerate their cloud migration and modernization journey to AWS with an outcome-driven methodology. Achieving AWS Migration Competency status differentiates ePlus as an AWS Partner Network (APN) member that provides specialized consulting services d ...

HERNDON, Va., March 18, 2024 /PRNewswire/ -- ePlus inc. (NASDAQ NGS: PLUS – news) today announced that it has earned places on both the CRN MSP 500 List, in the Elite 150 category, and the CRN Tech Elite 250 List. The MSP 500 is an annual list that recognizes North American Managed Service Providers and managed security service providers that have proven track records of innovation and growth. MSP 500 Elite 150 companies have an extensive managed services portfolio, including on-premises and off-premises ca ...