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ePlus Inc. (NASDAQ: PLUS) is a leading provider of transformative technology solutions aimed at helping visionary organizations achieve their IT goals. ePlus engineers sustainable IT roadmaps through their expert team of architects, engineers, and consultants, delivering strategies to fulfillment and managed services, allowing clients to optimize their IT environments and supply chain processes.
Headquartered in Virginia, ePlus operates through its subsidiaries to offer a broad array of technology solutions that cater to medium and large enterprises across various sectors in the United States and select international markets including the UK, EU, India, Singapore, and Israel. The company’s robust portfolio includes consulting, professional and managed services, and complete lifecycle management services, complemented by flexible financing solutions.
ePlus maintains deep partnerships with top manufacturers, leveraging these relationships to stay at the forefront of the IT ecosystem. The company's diverse network of over 1,500 vendor partnerships ensures that they can offer cutting-edge solutions tailored to the dynamic needs of their clients.
Recent achievements highlight ePlus's strong financial performance. For the fiscal year ending March 31, 2024, ePlus reported consolidated net sales of $2.23 billion to $2.33 billion, reflecting a significant increase driven by growth in key verticals and managed services. The company's adjusted EBITDA ranged between $200 million to $215 million. ePlus continued to expand capabilities through strategic acquisitions, such as the Network Solutions Group (NSG) and PEAK Resources, Inc., enhancing their engineering, sales, and service delivery capabilities.
ePlus's ongoing projects include the 2024 GRIT: Girls Re-Imagining Tomorrow® program, aimed at inspiring young women to pursue careers in technology. Additionally, ePlus has made significant strides in managed services, with substantial growth in Enhanced Maintenance Support, Service Desk, and Security Operations Center services.
In summary, ePlus Inc. is a trusted advisor in the IT industry, known for its relentless commitment to innovation, client service, and the ability to navigate through rapidly changing environments. With a strong balance sheet, a strategic focus on AI and cybersecurity, and a dedicated workforce, ePlus is well-positioned to continue delivering exceptional solutions and driving long-term shareholder value.
ePlus inc. (NASDAQ: PLUS) has expanded its Managed Security Services portfolio to include several Fortinet solutions, such as FortiSwitch, FortiAP, FortiManager, and FortiAnalyzer. This enhancement aims to improve the efficiency and protection of clients' environments. According to Lee Waskevich, vice president of security strategy, the addition of Fortinet's offerings broadens ePlus' ability to comprehensively support customer security needs. The firm continues to focus on customized cybersecurity programs to mitigate business risks.
ePlus inc. (NASDAQ: PLUS) announced a stock repurchase program, allowing the company to buy back up to 1,000,000 shares of its outstanding common stock over a 12-month period starting May 28, 2022. As of March 23, 2022, ePlus had approximately 26.89 million shares outstanding. Repurchases may occur in the open market or through private transactions, subject to management's discretion and market conditions. The repurchased shares will be held as treasury shares for general corporate purposes.
ePlus inc. (NASDAQ: PLUS) has been recognized for the ninth consecutive year on the CRN® 2022 Tech Elite 250 list. This accolade celebrates ePlus's commitment to excellence in providing advanced technology solutions and exceptional customer service. The company boasts over 2,200 active certifications across various domains, including cloud, security, and networking. According to COO Darren Raiguel, the recognition highlights the team's dedication to continual learning and innovation. The Tech Elite 250 showcases solution providers meeting high standards of performance in the IT channel.
ePlus (NASDAQ: PLUS) announced its participation in the Sidoti & Company Small Cap Virtual Conference on March 23, 2022, at 11:30 a.m. ET. The conference is by invitation only, showcasing ePlus's role as a consultative technology solutions provider. Founded in 1990 and headquartered in Herndon, VA, ePlus focuses on enhancing technology utilization for customers across various sectors, offering services in security, cloud, and networking, among others.
ePlus inc. (NASDAQ: PLUS) has launched its 2022 GRIT: Girls Re-Imagining Tomorrow program at six schools across California, North Carolina, and Virginia. This initiative aims to inspire over 90 students in technology careers, focusing on cybersecurity and AI. The program features STEAM education, mentorship, and guest speakers, enhancing participants' skills in coding, online safety, and personal branding. The initiative underscores ePlus's commitment to closing the gender gap in tech fields.
ePlus inc. has been recognized in CRN's 2022 Managed Service Provider (MSP) 500 List, Elite 150 category, marking its fifth consecutive year in this prestigious ranking. This list highlights top North American service providers enhancing the IT landscape. ePlus offers a diverse Managed Services portfolio, including cloud and security solutions, aiding clients in optimizing operations and managing risks. The firm holds multiple compliance attestations, ensuring quality in its offerings. The recognition reflects ePlus's commitment to delivering innovative IT solutions amid ongoing demands from organizations navigating post-pandemic challenges.
ePlus inc. (NASDAQ: PLUS) reported strong Q3 FY 2022 results with net sales of $494.8 million, a 15.7% increase year-over-year. Technology segment sales rose 14.8% to $477.0 million, while service revenues surged 20.0% to $62.5 million. Net earnings climbed 22.1% to $26.4 million, and diluted EPS increased 21.0% to $0.98. Adjusted EBITDA also saw a 21.5% increase to $41.8 million. The company has a healthy balance sheet, with cash and equivalents of $105.6 million.
ePlus (NASDAQ: PLUS) announced it will disclose its earnings for the third quarter and nine months ending December 31, 2021, on February 3, 2022. The earnings release will be made after market hours, followed by a conference call and audio webcast at 4:30 p.m. ET. Investors can access the live call at (888) 330-2469 or join via the provided webcast link. A replay will be available until February 10, 2022.
ePlus inc. (NASDAQ NGS: PLUS) announced it received the Cisco® Partner Summit Geographical Region award for Social Impact Partner of the Year during a digital event. This award recognizes a partner demonstrating a commitment to corporate social responsibility, including impactful community engagement. ePlus was highlighted for its collaboration with Rowan University to implement a cloud-based contact center for COVID vaccine distribution and its Girls Re-Imagining Tomorrow (GRIT) program for mentoring middle school girls in technology careers.
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