ePlus Reports Fiscal Year 2026 Second Quarter and First Half Financial Results

Raises Fiscal 2026 Guidance Amid Double Digit Growth Year Over Year in Second Quarter Revenue, Gross Profit, Net Earnings and Earnings Per Share ~Announces Common Stock Quarterly Dividend of $0.25 Per Share ~ Second Quarter Fiscal Year 2026 Consolidated net sales increased 23.4% to $608.8 million; services revenues increased 19.4% to $123.8 million. Gross billings increased 26.5% to $1,022.7 million. Consolidated gross profit increased 27.4% to $162.1 million. Consolidated gross margin was 26.6%, compared to 25.8% for last year's second quarter. Net earnings from continuing operations increased 92.7% to $38.2 million. Adjusted EBITDA increased 61.6% to $58.7 million. Net earnings from continuing operations per common share- diluted increased 95.9% to $1.45. Non-GAAP: net earnings from continuing operations per common share - diluted increased 62.8% to $1.53. First Half Fiscal Year 2026 Consolidated net sales increased 21.1% to $1,246.1 million; services revenues increased 32.0% to $240.1 million. Gross billings increased 20.3% to $1,975.4 million. Consolidated gross profit increased 22.1% to $310.3 million. Consolidated gross margin was 24.9%, compared to 24.7% for last year's first half. Net earnings from continuing operations increased 48.4% to $65.3 million. Adjusted EBITDA increased 39.8% to $105.4 million. Net earnings from continuing operations per common share - diluted increased 50.6% to $2.47. Non-GAAP: Net earnings per common share - diluted increased 42.3% to $2.79. , /PRNewswire/ -- ePlus inc. (NASDAQ: PLUS), a leading provider of technology solutions, today announced financial results for the three months and six months ended September 30, 2025, or the second quarter of its 2026 fiscal year. Management Comment "Fiscal 2026 is off to a very strong start as the strength from the first quarter carried into the second quarter, with net sales growing 23.4% and diluted EPS increasing almost 63%. This quarter marks an important milestone for ePlus, as we posted quarterly gross billings exceeding $1 billion for the first time in our history. Our second-quarter performance reflects steady progress in executing our strategic priorities as we reported double-digit growth in key financial metrics: revenue, gross profit, net earnings from continuing operations, Adjusted EBITDA and EPS," commented Mark Marron, president and CEO of ePlus. "Our results highlight the strength and resiliency of our business. "We continue to build momentum across our diversified end markets while maintaining disciplined cost management. We ended the quarter with a cash position of $402 million, enabling both organic growth and M&A activity. We completed the acquisition of certain assets of Realwave in the quarter to further enhance our Artificial Intelligence (AI) capabilities, in line with our strategy to invest in fast growing categories including cybersecurity, networking, AI and cloud. Furthermore, our teams are executing on our long-term plan, focused on services, value-added solutions, stable growth, and financial discipline," concluded Mr. Marron. Second Quarter Fiscal Year 2026 Results On June 30, 2025, we completed the sale of our domestic financing business. Consequently, alongside the results of our continuing operations, we are retrospectively presenting the results of our domestic financing business as discontinued operations, for all prior periods. For the second quarter ended September 30, 2025, as compared to the second quarter ended September 30, 2024: Consolidated net sales increased 23.4% to $608.8 million, from $493.4 million due to higher product sales and higher service revenue. Gross billings increased 26.5% to $1,022.7 million from $808.2 million. Product segment sales increased 24.5% to $485.0 million from $389.6 million due to higher cloud, networking, and security products net sales, offset by decreases in net sales of collaboration products. Product segment margin was 24.5%, up from 22.9% last year due to a higher proportion of third-party maintenance and services sold in the current quarter, which are recorded on a net basis. Professional services segment revenues increased 23.3% year over year to $76.3 million from $61.9 million, primarily due to the acquisition of Bailiwick Services, LLC, which occurred on August 19, 2024. Gross margin decreased to 38.2% from 41.3% during the same period last year due to the addition of Bailiwick Services, LLC whose services are generally at a lower margin than our legacy professional services. Managed services segment revenue increased 13.5% to $47.4 million primarily due to additional revenue from enhanced maintenance support and cloud services. Gross profit from our managed services segment increased 13.1% from last year due to the increase in revenue, offset by a decline in gross margin to 29.4% from 29.5% in the prior year quarter. Consolidated gross profit increased 27.4% to $162.1 million, from $127.3 million. Consolidated gross margin was 26.6%, compared with last year of 25.8%. Consolidated operating expenses were $113.3 million, up 12.9% from $100.3 million last year, primarily due to increases in variable compensation commensurate with the increase in our gross profit, as well as additional salaries and benefits and general and administrative costs. Consolidated operating income increased 80.9% to $48.8 million. Other income was $5.2 million compared to $0.3 million last year, due to foreign exchange gains recognized in the current three-month period compared to foreign exchange losses recognized in the prior three-month period. Additionally, there was increased interest income. Earnings from continuing operations before tax increased 97.7% to $54.0 million. Our effective tax rate for the current quarter was 29.3%, higher than the prior year quarter of 27.5%. Net earnings from continuing operations increased 92.7% to $38.2 million from $19.8 million in the prior year quarter. Adjusted EBITDA increased 61.6% to $58.7 million from $36.3 million in the prior year quarter. Net earnings from continuing operations per common share-diluted was $1.45, compared with $0.74 in the prior year quarter. Non-GAAP: Net earnings per common share from continuing operations was $1.53, compared with $0.94 in the prior year quarter. Earnings from discontinued operations, net of taxes, for the three months ended September 30, 2025, was a loss of $3.3 million, as compared to earnings of $11.5 million for the same three-month period in the prior year. The loss was due to a contingent liability of $4.6 million, related to a legal matter from our discontinued operations for which we remain responsible under the terms of the sale of our domestic financing business, offset by an income tax benefit of $1.3 million. Net (loss) earnings from discontinued operations per common share-diluted was $(0.13), compared with $0.43 in the prior year quarter. First Half Fiscal Year 2026 Results For the six months ended September 30, 2025, as compared to the six months ended September 30, 2024: Consolidated net sales increased 21.1% to $1,246.1 million, from $1,029.0 million due to higher product sales and higher services revenue. Gross billings increased 20.3% to $1,975.4 million from $1,641.9 million. Product segment sales increased 18.8% to $1,005.9 million from $846.9 million due to higher cloud, networking, and security products net sales, offset by decreases in net sales of collaboration products. Product segment margin was 22.4%, up from 22.2% last year due to a higher proportion of third-party maintenance and services sold in the current six-month period, which are recorded on a net basis. Professional services segment revenues increased 49.3% year over year to $148.1 million from $99.2 million, primarily due to the acquisition of Bailiwick Services, LLC. Gross margin declined to 38.7% from 41.4% during the same period last year due to the addition of Bailiwick Services, LLC whose services are generally at a lower margin than our legacy professional services. Managed services segment revenue increased 11.3% to $92.0 million primarily due to additional sales of enhanced maintenance support and cloud services. Gross profit from our managed services segment increased 9.2% from last year due to the increase in revenue, offset by a decline in gross margin to 29.9% from 30.4% in the prior year six-month period. Consolidated gross profit increased 22.1% to $310.4 million, from $254.2 million. Consolidated gross margin was 24.9%, compared with last year of 24.7%. Consolidated operating expenses were $225.3 million, up 15.1% from $195.7 million last year, primarily due to increases in variable compensation commensurate with the increase in our gross profit, as well as additional salaries and benefits and general and administrative costs. Consolidated operating income increased 45.5% to $85.0 million. Other income was $5.8 million compared to $2.0 million last year, due to decreased foreign exchange losses and increased interest income during the current six-month period. Earnings from continuing operations before taxes increased 50.1% to $90.8 million. Our effective tax rate for the six months ended September 30, 2025, was 28.1%, higher than the same six-month period in the prior year of 27.3%. Net earnings from continuing operations increased 48.4% to $65.3 million from $44.0 million in the prior year. Adjusted EBITDA increased 39.8% to $105.4 million from $75.4 million in the prior year six-month period. Net earnings from continuing operations per common share-diluted was $2.47, compared with $1.64 in the prior year. Non-GAAP: Net earnings from continuing operations per common share-diluted was $2.79, compared with $1.96 in the prior year. Earnings from discontinued operations, net of tax, for the six months ended September 30, 2025, were $7.3 million, a decrease of $7.4 million, as compared to $14.7 million for the same six-month period in the prior year. The decrease was due to the sale of our domestic financing business on June 30, 2025. Net earnings from discontinued operations per common share-diluted was $0.28, compared with $0.55 in the prior year six-month period. Balance Sheet Highlights As of September 30, 2025, cash and cash equivalents were $402.2 million, up from $389.4 million as of March 31, 2025. Inventory increased 28.0% to $154.1 million compared with $120.4 million as of March 31, 2025. Accounts receivable—trade, net increased 30.9% to $676.8 million from $516.9 million as of March 31, 2025. Total stockholders' equity was $1,046.1 million, compared with $977.6 million as of March 31, 2025. Total shares outstanding were 26.6 million and 26.5 million on September 30, 2025 and March 31, 2025, respectively. Fiscal Year Guidance Reflecting the strong financial performance to date and momentum we expect to continue, the Company is increasing its fiscal year 2026 net sales, gross profit and Adjusted EBITDA guidance. Net sales are now expected to grow at a rate in the mid-teens from fiscal year 2025's $2.01 billion from continuing operations. Gross profit is also expected to grow at a rate in the mid-teens from fiscal year 2025's $515.5 million from continuing operations. Adjusted EBITDA is expected to increase from fiscal year 2025's $141 million at approximately twice the rate of net sales growth for fiscal year 2026, as continuing operations results are expected to benefit from operating leverage. This guidance does not factor in recessionary conditions or other unexpected developments. ePlus cannot predict with reasonable certainty and without unreasonable effort, the ultimate outcome of unusual gains and losses, the occurrence of matters creating GAAP tax impacts, fluctuations in interest expense or interest income and share-based compensation, and acquisition-related expenses. These items are uncertain, depend on various factors, and could be material to ePlus' results computed in accordance with GAAP. Accordingly, ePlus is unable to provide a reconciliation of GAAP net earnings to adjusted EBITDA for the full fiscal year 2026 forecast. Summary and Outlook "We delivered strong second quarter and first half results with record gross billings which reflect significant progress across our business. As a result, we have increased our fiscal year 2026 guidance. "Looking ahead, we plan to maintain a disciplined capital allocation approach anchored around investment in the business, our capabilities, and areas where we can competitively differentiate ourselves while maintaining a strong balance sheet. By balancing positive performance today with thoughtful investments for tomorrow, we are building a foundation for lasting growth and long-term value creation" concluded Mr. Marron. ePlus Announces Quarterly Dividend ePlus announced today that its Board of Directors has declared a quarterly cash dividend of $0.25 per common share which will be paid on December 17, 2025, to shareholders of record as of the close of business on November 25, 2025. Recent Corporate Developments/Recognitions In the second quarter of its 2026 fiscal year, ePlus: Completed a new AI Industry Pulse Poll Expanded Managed Services and Enhanced Maintenance Support Portfolios for Juniper Networks Acquired certain assets of Realwave, Inc. Conference Call Information ePlus will hold a conference call and webcast at 4:30 p.m. ET on November 6, 2025: Date: November 6, 2025 Time: 4:30 p.m. ET Audio Webcast (Live & Replay): https://events.q4inc.com/attendee/179735305 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: 5394845# (live call and replay) A replay of the call will be available approximately two hours after the call through November 13, 2025. About ePlus inc. ePlus is a customer-first, services-led, and results-driven industry leader offering transformative technology solutions and services to provide the best customer outcomes. Offering a full portfolio of solutions, including artificial intelligence, security, cloud and data center, networking, and collaboration, as well as managed, consultative and professional services, ePlus works closely with organizations across many industries to successfully navigate business challenges. With a long list of industry-leading partners and approximately 2,130 employees, our expertise has been honed over more than three decades, giving us specialized yet broad levels of experience and knowledge. ePlus is headquartered in Virginia, with locations in the United States, United Kingdom, Europe, and Asia‐Pacific. For more information, visit www.eplus.com, call 888-482-1122, or email [email protected]. Connect with ePlus on LinkedIn, X, Facebook, and Instagram. ePlus, Where Technology Means More®. ePlus® and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries. Forward-looking statements Statements in this press release that are not historical facts may be deemed to be "forward-looking statements," including, among other things, statements regarding the future financial performance of ePlus. Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, financial losses resulting from national and international political instability fostering uncertainty and volatility in the global economy including changes in interest rates, tariffs, inflation, export requirements applicable to products we sell, sanctions and exposure to foreign currency losses; significant adverse changes in our relationship with one or more of our larger customer accounts or vendors, including decreased account profitability, reductions in contracted services, or a loss of such relationships; increases to our costs including wages and our ability to increase our prices to our customers as a result, or experience negative financial impacts due to the pricing arrangements we have with our customers; a material decrease in the credit quality of our customer base, or a material increase in our credit losses; reliance on third parties to perform some of our service obligations to our customers, and the reliance on a small number of key vendors in our supply chain with whom we do not have long-term supply agreements, guaranteed price agreements, or assurance of stock availability; the possibility of a reduction of vendor incentives provided to us; our inability to identify merger and acquisition candidates, perform sufficient due diligence prior to completing mergers and acquisitions, successfully integrate a completed merger and/or acquisition, successfully complete merger and acquisition transactions, including on favorable terms, or identify an opportunity for or successfully completing a business disposition; our ability to remain secure during a cybersecurity attack or other information technology ("IT") outage, including disruptions in our, our vendors or a third party's IT systems and data and audio communication networks; our ability to secure our own and our customers' electronic and other confidential information, while maintaining compliance with evolving data privacy and cybersecurity regulatory laws and regulations and appropriately providing required notice and disclosure of cybersecurity incidents when and if necessary; our dependence on key personnel to maintain certain customer relationships, and our ability to hire, train, and retain sufficient qualified personnel by recruiting and retaining highly skilled, competent personnel with needed vendor certifications; risks relating to artificial intelligence ("AI"), including the use or capabilities of AI and emerging laws, rules and regulations related to AI; our ability to manage a diverse product set of solutions, including AI products and services, in highly competitive markets with a number of key vendors; changes in the IT industry and/or rapid changes in product offerings, including the proliferation of the cloud, infrastructure as a service ("IaaS"), software as a service ("SaaS"), platform as a service ("PaaS"), and AI which may affect our financial results; supply chain issues, including a shortage of IT component parts and products, may increase our costs or cause a delay in fulfilling customer orders, or increase our need for working capital, or delay completing professional services, or purchasing IT products or services needed to support our internal infrastructure or operations, resulting in an adverse impact on our financial results; ongoing remote work trends, and the increase in cybersecurity attacks that have occurred while employees work remotely and our ability to adequately train our personnel to prevent a cyber event; our ability to raise capital, maintain or increase as needed our lines of credit with vendors or our floor plan facility, or the effect of those changes on our common stock price; our ability to predictably meet expectations of the investor and analyst community, including relative to our financial performance guidance that we provide; our ability to implement comprehensive plans for the integration of sales forces, cost containment, asset rationalization, systems integration, and other key strategies following acquisitions; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission. The declaration and payment of future dividends are subject to the sole discretion of our Board of Directors. All information set forth in this press release is current as of the date of this release and ePlus undertakes no duty or obligation to update this information either as a result of new information, future events or otherwise, except as required by applicable U.S. securities law. e Plus inc. AND SUBSIDIARIES UNAUDITED CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts) September 30, 2025 March 31, 2025 ASSETS Current assets: Cash and cash equivalents $402,157 $389,375 Accounts receivable—trade, net 676,778 516,925 Accounts receivable—other, net 44,335 19,382 Inventories 154,138 120,440 Deferred costs 71,324 66,769 Other current assets 23,990 28,500 Current assets of discontinued operations - 222,399 Total current assets 1,372,722 1,363,790 Deferred tax asset 10,621 3,658 Property, equipment and other assets—net 109,431 98,657 Goodwill 202,927 202,858 Other intangible assets—net 71,126 82,007 Non-current assets of discontinued operations - 133,835 TOTAL ASSETS $1,766,827 $1,884,805 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Current liabilities: Accounts payable $281,833 $324,580 Accounts payable—floor plan 98,533 89,527 Salaries and commissions payable 45,708 42,219 Deferred revenue 163,460 152,631 Other current liabilities 38,586 22,463 Current liabilities of discontinued operations - 166,463 Total current liabilities 628,120 797,883 Deferred tax liability—long-term - 1,454 Deferred revenue—long-term 80,235 81,759 Other liabilities 12,390 13,540 Non-current liabilities of discontinued operations - 12,546 TOTAL LIABILITIES 720,745 907,182 COMMITMENTS AND CONTINGENCIES 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; 26,565 outstanding at September 30, 2025 and 26,526 outstanding at March 31, 2025 277 276 Additional paid-in capital 202,012 193,698 Treasury stock, at cost, 1,163 shares at September 30, 2025 and 1,056 shares at March 31, 2025 (78,456) (70,748) Retained earnings 916,852 850,956 Accumulated other comprehensive income—foreign currency translation adjustment 5,397 3,441 Total Stockholders' Equity 1,046,082 977,623 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $1,766,827 $1,884,805 e Plus inc. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended September 30, Six Months Ended September 30, 2025 2024 2025 2024 Net sales Product $485,065 $389,705 $1,006,071 $847,168 Services 123,761 103,667 240,070 181,856 Total 608,826 493,372 1,246,141 1,029,024 Cost of sales Product 366,066 300,325 780,543 659,203 Services 80,636 65,745 155,258 115,645 Total 446,702 366,070 935,801 774,848 Gross profit 162,124 127,302 310,340 254,176 Selling, general, and administrative 106,479 94,541 211,426 185,137 Depreciation and amortization 6,810 5,765 13,879 10,584 Operating expenses 113,289 100,306 225,305 195,721 Operating income 48,835 26,996 85,035 58,455 Other income, net 5,163 316 5,775 2,027 Earnings from continuing operations before taxes 53,998 27,312 90,810 60,482 Provision for income taxes 15,838 7,513 25,522 16,490 Net earnings from continuing operations 38,160 19,799 65,288 43,992 Earnings from discontinued operations, net of tax (3,305) 11,511 7,264 14,657 Net earnings $34,855 $31,310 $72,552 $58,649 Earnings per common share—basic Continuing operations $1.45 $0.75 $2.48 $1.65 Discontinued operations (0.13) 0.43 0.28 0.55 Earnings per common share—basic $1.32 $1.18 $2.76 $2.20 Earnings per common share—diluted Continuing operations $1.45 $0.74 $2.47 $1.64 Discontinued operations (0.13) 0.43 0.28 0.55 Earnings per common share—diluted $1.32 $1.17 $2.75 $2.19 Weighted average common shares outstanding—basic 26,362 26,567 26,316 26,604 Weighted average common shares outstanding—diluted 26,406 26,676 26,407 26,750 Segment Results Three Months Ended September 30, Six Months Ended September 30, 2025 2024 Change 2025 2024 Change (in thousands) (in thousands) Net sales Product segment $485,014 $389,613 24.5 % $1,005,909 $846,925 18.8 % Professional services segment 76,344 61,900 23.3 % 148,073 99,179 49.3 % Managed services segment 47,417 41,767 13.5 % 91,997 82,677 11.3 % Other 51 92 (44.6 %) 162 243 (33.3 %) Total $608,826 $493,372 23.4 % $1,246,141 $1,029,024 21.1 % Gross profit Product segment $119,013 $89,359 33.2 % $225,495 $187,864 20.0 % Professional services segment 29,172 25,583 14.0 % 57,325 41,038 39.7 % Managed services segment 13,953 12,339 13.1 % 27,487 25,173 9.2 % Other (14) 21 (166.7 %) 33 101 (67.3 %) Total $162,124 $127,302 27.4 % $310,340 $254,176 22.1 % Gross Billings by Type Networking $315,189 $219,797 43.4 % $583,921 $501,325 16.5 % Security 255,158 163,565 56.0 % 445,203 315,448 41.1 % Cloud 202,828 195,852 3.6 % 514,845 437,126 17.8 % Collaboration 41,286 46,717 (11.6 %) 64,063 79,693 (19.6 %) Other 76,917 72,545 6.0 % 128,363 117,137 9.6 % Product segment 891,378 698,476 27.6 % 1,736,395 1,450,729 19.7 % Services 131,277 109,752 19.6 % 239,025 191,207 25.0 % Total $1,022,655 $808,228 26.5 % $1,975,420 $1,641,936 20.3 % Net Sales by Type Networking $258,156 $186,776 38.2 % $476,358 $421,516 13.0 % Cloud 128,270 121,336 5.7 % 335,266 258,567 29.7 % Security 65,889 41,209 59.9 % 126,996 89,214 42.3 % Collaboration 16,558 17,988 (7.9 %) 28,315 38,887 (27.2 %) Other 16,141 22,304 (27.6 %) 38,974 38,741 0.6 % Total products segment 485,014 389,613 24.5 % 1,005,909 846,925 18.8 % Professional services segment 76,344 61,900 23.3 % 148,073 99,179 49.3 % Managed services segment 47,417 41,767 13.5 % 91,997 82,677 11.3 % Other 51 92 (44.6 %) 162 243 (33.3 %) Total net sales $608,826 $493,372 23.4 % $1,246,141 $1,029,024 21.1 % Net Sales by Customer End Market Telecom, media & entertainment $176,772 $108,870 62.2 % $361,751 $226,423 59.7 % SLED 87,246 97,687 (10.7 %) 177,808 189,783 (6.3 %) Healthcare 82,285 78,235 5.2 % 156,576 153,515 2.0 % Technology 69,549 54,988 26.7 % 152,296 164,094 (7.1 %) Financial services 63,079 34,759 81.5 % 110,579 84,484 30.9 % All other 129,895 118,833 9.3 % 287,131 210,725 36.3 % Total net sales $608,826 $493,372 23.4 % $1,246,141 $1,029,024 21.1 % e Plus inc. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP INFORMATION We included reconciliations below for the following non-GAAP financial measures: (i) Adjusted EBITDA, (ii) Non-GAAP: Net earnings from continuing operations and (iii) Non-GAAP Net earnings from continuing operations per common share - diluted. We define Adjusted EBITDA as net earnings from continuing operations calculated in accordance with US GAAP, adjusted for the following: interest expense, depreciation and amortization, share-based compensation, acquisition and integration expenses, provision for income taxes, and other income (expense). Non-GAAP: Net earnings from continuing operations and Non-GAAP Net earnings from continuing operations per common share – diluted are based on net earnings from continuing operations calculated in accordance with US GAAP, adjusted to exclude other (income) expense, share-based compensation, and acquisition related amortization and integration expenses, and the related tax effects. We use the above non-GAAP financial measures as supplemental measures of our performance to gain insight into our operating performance and performance trends. We believe that these financial measures provide management and investors with a useful measure for period-to-period comparisons of our business and operating results by excluding items that management believes are not reflective of our underlying operating performance. Accordingly, we believe that such non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results. Our use of non-GAAP information as analytical tools has limitations, and should not be considered in isolation or as substitutes for analysis of our financial results as reported under US GAAP. In addition, other companies, including companies in our industry, might calculate Adjusted EBITDA, Non-GAAP: Net earnings from continuing operations and Non-GAAP: Net earnings from continuing operations per common share-diluted, or similarly titled measures differently, which may reduce their usefulness as comparative measures. The amounts in the tables below are results from our continuing operations (in thousands): (i) Reconciliation of Adjusted EBITDA Three Months Ended September 30, Six Months Ended September 30, 2025 2024 2025 2024 GAAP: Net earnings from continuing operations $38,160 $19,799 $65,288 $43,992 Provision for income taxes 15,838 7,513 25,522 16,490 Share-based compensation 3,058 2,530 6,498 5,321 Acquisition related expenses - 1,043 - 1,043 Depreciation and amortization [1] 6,810 5,765 13,879 10,584 Other (income) expense, net [2] (5,163) (316) (5,775) (2,027) Non-GAAP: Adjusted EBITDA $58,703 $36,334 $105,412 $75,403 (ii) Reconciliation of Non-GAAP: Net earnings from continuing operations Three Months Ended September 30, Six Months Ended September 30, 2025 2024 2025 2024 GAAP: Earnings from continuing operations before tax $53,998 $27,312 $90,810 $60,482 Share-based compensation 3,058 2,530 6,498 5,321 Acquisition related expenses - 1,043 - 1,043 Acquisition related amortization expense [3] 5,313 4,447 10,861 8,197 Other (income) expense, net [2] (5,163) (316) (5,775) (2,027) Non-GAAP: Earnings from continuing operations before tax 57,206 35,016 102,394 73,016 GAAP: Provision for income taxes 15,838 7,513 25,522 16,490 Share based compensation 896 713 1,812 1,494 Acquisition related expenses - 293 - 293 Acquisition related amortization expense [3] 1,552 1,246 3,025 2,293 Other (income) expense, net [2] (1,512) (89) (1,675) (568) Tax benefit (expense) on restricted stock (25) 184 89 492 Non-GAAP: Provision for income taxes 16,749 9,860 28,773 20,494 Non-GAAP: Net earnings from continuing operations $40,457 $25,156 $73,621 $52,522 (iii) Reconciliation of Non-GAAP: Net earnings from continuing operations per common share - diluted Three Months Ended September 30, Six Months Ended September 30, 2025 2024 2025 2024 GAAP: Net earnings per common share from continuing operations – diluted $1.45 $0.74 $2.47 $1.64 Share based compensation 0.08 0.07 0.18 0.14 Acquisition related expenses - 0.03 - 0.03 Acquisition related amortization expense [3] 0.14 0.12 0.30 0.22 Other (income) expense, net [2] (0.14) (0.01) (0.16) (0.05) Tax benefit (expense) on restricted stock - (0.01) - (0.02) Total non-GAAP adjustments – net of tax 0.08 0.20 0.32 0.32 Non-GAAP: Net earnings per common share from continuing operations – diluted $1.53 $0.94 $2.79 $1.96 [1] Amount consists of depreciation and amortization for assets used internally. [2] Interest income and foreign currency transaction gains and losses. [3] Amount consists of amortization of intangible assets from acquired businesses. SOURCE EPLUS INC.

ePlus Reports Fiscal Year 2026 Second Quarter and First Half Financial Results

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