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 inc. (NASDAQ: PLUS) has been awarded the Palo Alto Networks 2022 Americas Social Impact Award during the Ignite '22 Executive Partner Summit. This recognition honors partners making significant social contributions. ePlus emphasizes corporate social responsibility, focusing on cybersecurity workforce development, mentorship, and community support. The award highlights ePlus's commitment to enhancing security for customers and communities.
In the last 12 months, ePlus has engaged in various initiatives to promote a safer digital experience, aligning with Palo Alto Networks to meet evolving security challenges.
ePlus inc. (NASDAQ: PLUS) announced the launch of ePlus Storage-as-a-Service powered by Pure Storage Evergreen//One™ on January 5, 2023. This service aims to enhance enterprise storage solutions with flexible subscription models, technical support, and customer success resources. Key features include expedited issue resolution, improved capacity planning insights, a consumption-based utility model, and on-demand burst capacity. This offering allows customers to manage their data center infrastructure efficiently while minimizing upfront costs and risks associated with data center capacity planning.
ePlus inc. (NASDAQ: PLUS) received multiple accolades from Nutanix, including the 2022 Global Reseller of the Year and Americas Reseller of the Year Awards. These honors highlight ePlus's expertise in the Nutanix Cloud Platform and its commitment to assisting clients in modernizing their infrastructures. The company emphasizes its role as a trusted advisor, helping customers maximize their investment through training and support. Nutanix praised ePlus for its customer-centric approach and technical proficiency, underscoring its importance as a partner in advancing hybrid multicloud solutions.
On December 14, 2022, ePlus inc. (NASDAQ: PLUS) announced an expansion of its holiday campaign to support children in four hospitals across California, New York, Texas, and Virginia. The initiative includes virtual Santa experiences, streaming into over 200 patient rooms, and the distribution of holiday gifts like toys, books, and blankets. ePlus is also facilitating a national toy drive and providing gift cards to patient families. CEO Mark Marron emphasized the importance of giving back to the community during the holiday season.
ePlus inc. (NASDAQ: PLUS) has successfully earned multiple attestations for its Managed Services Center, Service Desk, and Cloud Hosted Services. The company achieved the Type 2 SSAE 18 (SOC 1) examination and the Type 2 SSAE 18 (SOC 2) examination, ensuring effective controls over security, availability, and confidentiality. Additionally, ePlus completed an attestation related to its Information Security Program under HIPAA and HITECH. These attestations cover the period from August 1, 2021, to July 31, 2022, affirming ePlus's commitment to operational excellence and customer service.
ePlus inc. (NASDAQ: PLUS) has received four significant awards at the Cisco Partner Summit, including U.S. Partner of the Year and Global Marketing Partner of the Year. The awards recognize ePlus's innovation and successful sales strategies that drive substantial customer outcomes. Cisco's executives praised ePlus for its customer focus and commitment to excellence in the evolving digital landscape. The recognition includes the Americas Marketing Partner of the Year and Enterprise Networking Partner of the Year for the U.S. East Region, highlighting ePlus's impactful contributions.
ePlus inc. (NASDAQ: PLUS) reported a strong second quarter for fiscal year 2023, with net sales rising 7.8% to $493.7 million and technology segment sales increasing 8.1%. Service revenues grew 7.1% to $65.2 million. Adjusted gross billings surged 15.3% to $765.8 million, while consolidated gross profit grew 8.4% to $133.3 million, with a gross margin of 27.0%. Despite this growth, net earnings decreased 9.4% to $28.5 million, and diluted earnings per share fell 8.5% to $1.07.
ePlus inc. (NASDAQ: PLUS) has become the first North American partner qualified in Cisco's Partner Lifecycle Services Support (PLS-S) program. The newly launched ePlus Lifecycle Services Support (eLSS) aims to streamline technical support for Cisco and adjacent technologies by providing centralized first-call support. Customers can expect faster resolution times and predictable costs. ePlus has developed this co-delivered model to address shifts in technology consumption and support, enhancing its existing services portfolio, which includes managed services and device-level support.
ePlus inc. (NASDAQ: PLUS) announced an increase in its credit facility from $375 million to $425 million, enhancing its working capital financing capacity. The credit agreement now allows a senior secured revolving credit facility of $150 million, up from $100 million. Additionally, all loans have transitioned from a LIBOR rate to a Term SOFR rate. CFO Elaine Marion expressed confidence that these financial adjustments will support customers' digital transformation initiatives across various technology solutions.
On October 28, 2022, ePlus inc. (NASDAQ: PLUS) announced that its CFO, Elaine Marion, received the 2022 Distinguished Alumni Award from the George Mason University School of Business. This award recognizes professional achievement across sectors. Dean Ajay Vinzé praised Marion's commitment to the community and technology sector. Marion expressed gratitude for her education and commitment to the university's future. ePlus continues to focus on leveraging technology for transformative business outcomes.
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