Eplus Revenue, Net Income & 10-K Summary

Overview

ePlus Inc. is a technology solutions provider founded in 1990.
The company offers a broad mix of IT solutions across AI, cloud, data center, security, networking, and collaboration.
Operations are organized into three segments: Product (IT sales), Professional Services, and Managed Services.
Vendor and software publisher partners include Amazon Web Services, Cisco, Microsoft, NetApp, Hewlett Packard Enterprise, Dell, Arista, NVIDIA, Palo Alto Networks, Check Point, CrowdStrike, Rubrik, Varonis, VMware by Broadcom, Zoom, and others.
ePlus maintains proprietary hosted software to automate and optimize IT asset procurement and management, including private marketplace experiences for AWS Marketplace, Azure Marketplace, and Google Cloud Marketplace.

Infrastructure and cloud management: proactive monitoring and management for on-premises and cloud environments (Azure, Webex, Zoom), firewall management, storage, compute, network, and security
EMS/ELSS: enhanced maintenance support and lifecycle services with 24/7 multi-vendor support and unified asset lifecycle data
Service desk: outsourced server/desktop support, Office support, printers, third-party application support, and ITSM integration
Storage-as-a-Service: on-premises storage in a consumption-based model with on-demand capacity (Everpure Evergreen//One, NetApp Keystone) plus SLAs and EMS
Azure Recover: cloud disaster recovery with automated recovery testing
Cloud Managed Services: cloud adoption assistance and ongoing management to reduce time-to-market, lower cloud costs, and improve security
Managed Security Services: SOC, vulnerability management, MDR, network/endpoint security, incident response, and security orchestration
AI Infrastructure (Advanced Support): support for AI workloads, NVIDIA DGX-related offerings, and partnerships with NVIDIA AI Enterprise

Cloud infrastructure, unified communications, collaboration, networking, storage, hyper-converged infrastructure, and VDI
Architecture, deployment, configuration, software adoption, training, and assessments
Digital signage, EV charging solutions, loss prevention, and retail store openings/remodels/closings
Staff augmentation (service desk, infrastructure, software development) and long-term IT roadmaps (vCIO, vCISO)
Project management for implementations and adoption
Cloud consulting: workload assessment, solution selection, platform design/build, modernization/migration, automation, and ongoing optimization
AI advisory: AI Envisioning Workshop, AI Use Case Development Workshop, ePlus AI POC Accelerator; security and data governance for AI
Security solutions: governance, risk, and compliance (GRC); deployment of security controls; security operations modernization
Collaboration solutions: unified communications, omni-channel contact center (AI-enabled), AV design and installation
Warehouse, configuration, and logistics: configuration centers, asset lifecycle and disposition, data destruction, Customer Innovation Center, and an AI Experience Center

Flexible subscription models with ITIL-aligned service delivery
SOC 1 Type 2 and SOC 2 Type 2 attestations
Configuration centers and warehouses distributed across the US
Services delivered at customer sites, in home offices, or through coworking spaces

Customer base: approximately 4,200 customers
Customer mix by end market (year ended March 31, 2026): 30% telecommunications, media and entertainment; 13% SLED (state/local education); 13% healthcare; 12% technology; 10% financial services; 6% retail
Major customer concentration: Verizon Communications Inc. represented 24% of net sales in 2026 (17% in 2025; 19% in 2024) and accounted for 17% of gross billings in 2026 (12% in 2025; 13% in 2024)
Geography: primarily United States, with international sales in the UK, EU, India, and Singapore

Employees: 2,148 as of March 31, 2026 (2,094 in the US; 29 in India; 25 in the UK)
Functional composition (as of March 31, 2026): 705 in sales and marketing; 1,079 in professional and managed services; 358 in administration; 6 in executive management
About 20% of employees have 10+ years with the company
Equal opportunity employer with a focus on inclusion; company motto: “Be Safe, Be Smart, and Be Kind”; active corporate social responsibility programs, including GRIT with Cisco and paid volunteer time

Revenue and gross billings concentration: Verizon is a major customer (24% of net sales in 2026; 17% of gross billings in 2026)
Largest vendors in net sales (product segment): Cisco (~29% of net sales in 2026; 32% in 2025; 44% in 2024) and a group including NetApp, Hewlett Packard Enterprise, Juniper Networks, Dell, and Arista (together roughly 23–28% of net sales over the last three years)
Intangibles: carrying value of goodwill was $202.9 million and identifiable intangible assets were $61.3 million as of March 31, 2026
Debt and credit facilities: Wells Fargo Commercial Distribution Finance facility with aggregate limits up to $500 million, including a revolving line up to $200 million; availability and covenants depend on the credit agreement, which can be terminated with 90 days’ notice by either party

As of March 31, 2026: leased 497,000 square feet across 22 properties (primarily in the US)
Headquarters relocation: signed an 8-year lease for a new headquarters in Herndon, Virginia, effective April 1, 2026
Additional employees may work at customer sites, homes, or coworking spaces

Ongoing investment in engineering, automation, AI, and a multi-vendor approach to IT solutions
Proprietary hosted solutions streamline procurement and asset management and provide private marketplace experiences across major cloud marketplaces
The company recognizes risks related to cybersecurity, regulatory change, supply chain, and reliance on a small number of vendors and large customers