Welcome to our dedicated page for ePlus news (Ticker: PLUS), a resource for investors and traders seeking the latest updates and insights on ePlus stock.
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 (NASDAQ: PLUS) has partnered with AWS to launch Professional Services in AWS Marketplace, enabling customers to purchase and contract professional services directly. This initiative simplifies the procurement process for AWS customers by allowing software and related services to be sourced together, thus enhancing efficiency and reducing procurement cycles. Key Managed Services offered include Cloud Cost Optimization, Cloud Security Monitoring, and Managed Detection and Response, aimed at addressing cloud migration challenges.
ePlus inc. (NASDAQ: PLUS) reports significant challenges faced by organizations due to COVID-19, as highlighted in their study titled Navigating Disruption. The survey of 135 tech professionals revealed data center capacity issues, with 30% citing expanded service requirements like VDI. Additionally, 25% of organizations experienced increased cloud spending, with nearly 10% seeing a rise exceeding 20%. Security concerns remain prevalent, with only 39% feeling 'very confident' in their controls. The report underscores the importance of agile infrastructure and adaptive security for future challenges.
ePlus inc. (NASDAQ: PLUS) has been awarded the Cisco Partner Summit Digital Geographical Region award for Americas Technology Excellence Partner of the Year: Data Center. The company also received regional awards for Software Partner of the Year and Commercial Partner of the Year. Cisco’s awards recognize partners for their innovative business practices and customer support during challenging times. ePlus holds several Cisco certifications, showcasing its expertise in technology solutions, including security and cloud services.
ePlus inc. (NASDAQ: PLUS) reported a 5.2% increase in consolidated net sales for Q2 FY2021, totaling $433.1 million. Technology segment sales rose 5.4% to $419.4 million, driven by higher product sales and a growing emphasis on managed services. However, consolidated gross profit decreased 3.9% to $99.0 million, with a gross margin of 22.9%. For the first half of FY2021, net sales fell 0.6% to $788.1 million, despite operating income increasing 4.6% to $53.5 million. The company's cash reserves increased significantly to $161.1 million.
ePlus (NASDAQ: PLUS) announced it will release its financial results for the three and six months ending September 30, 2020, on November 4, 2020. The earnings will be shared after market hours, followed by a conference call at 4:30 p.m. ET. Participants must pre-register to join the call. The company emphasizes its commitment to technology solutions that enhance customer capabilities. The webcast will be available for replay after the call, accessible until November 11, 2020.
ePlus inc. (NASDAQ: PLUS) announced successful completion of multiple attestations for its Managed Services Center, Cloud Hosted Services, and OneSource software products. Key achievements include the Type 2 SSAE 18 examination (SOC 1) for Managed Services and OneSource products, along with SOC 2 for Cloud Hosted Services, focusing on security, availability, and confidentiality. These examinations cover the period from August 1, 2019, to July 31, 2020, affirming the effectiveness of controls in place. ePlus emphasizes its commitment to operational excellence in delivering IT solutions.
ePlus inc. (NASDAQ: PLUS) announced that its CFO, Elaine Marion, received the Public Company CFO of the Year award from the Northern Virginia Technology Council at the 2020 Greater Washington Technology CFO Awards. This recognition highlights her commitment to strengthening the region's technology sector. CEO Mark Marron commended Marion's work ethic and dedication to ePlus's culture, emphasizing the positive impact her leadership has on employees and shareholders. ePlus has been a member of the Northern Virginia Technology Council for 25 years.
ePlus inc. (NASDAQ: PLUS) has launched ePlus CyberSmart, an educational initiative aiming to enhance cyber security knowledge among organizations. Coinciding with National Cyber Security Awareness Month, this initiative provides resources focusing on Identity and Access Management, Secure Access Service Edge, Managed Detection and Response, and securing remote workers. It will culminate on November 13 with a virtual event featuring renowned hacker Kevin Mitnick. ePlus emphasizes the importance of organizational cyber security awareness, especially in the wake of increased remote work due to the pandemic.
ePlus (NASDAQ: PLUS) has enhanced its Managed Cloud Security Service portfolio by integrating a robust managed detection and response (MDR) solution through a partnership with Alert Logic. This addition allows ePlus to provide continuous threat monitoring and extensive threat intelligence, ensuring optimal security for cloud deployments. The technology, coupled with ePlus' managed services, aims to help organizations address increasing cyber threats effectively. This strategic move supports organizations in enhancing network visibility and proactive threat remediation.
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