Here are the 10-K annual reports from PC Connection Inc (CNXN) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow CNXN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CNXN filings page.
PC Connection (CNXN) reported fiscal 2025 net sales of $2,872.7 million, up 2.5% from 2024. Gross profit rose 3.8% to $539.3 million and gross margin increased 20 basis points to 18.8%. Operating income was $99.3 million, compared with $97.1 million; net income was $83.7 million, compared with $87.1 million.
Enterprise Solutions net sales increased 8.6% to $1,282.4 million, while Business Solutions net sales rose 3.1% to $1,081.8 million. Public Sector Solutions net sales declined 11.1% to $508.5 million. Late in the year, an industry-wide DRAM and NAND shortage developed amid high demand from AI solutions; it is expected to extend into 2026, and its business impact is yet to be determined.
Net cash from operating activities was $65.5 million, compared with $173.9 million, primarily reflecting changes in inventories and accounts receivable. PC Connection said it believes funds from operations and short-term investments will be sufficient for requirements for at least the next twelve calendar months and beyond. Management concluded that disclosure controls and internal control over financial reporting were effective as of December 31, 2025.