Strong FY 2026 growth as ePlus (NASDAQ: PLUS) raises dividend

Rhea-AI Filing Summary

ePlus inc. reported strong results for the fourth quarter and fiscal year ended March 31, 2026 and announced a higher dividend. Fiscal 2026 net sales rose 22.1% to $2,442.5 million, with gross profit up 20.3% to $616.1 million as all segments contributed. Adjusted EBITDA grew 49.5% to $204.8 million, while net earnings from continuing operations increased 62.4% to $124.1 million. Diluted earnings per share from continuing operations were $4.71, up from $2.87. In the fourth quarter, net sales increased 20.6% to $576.2 million and adjusted EBITDA rose 40.2% to $40.1 million. Cash and cash equivalents were $410.8 million as of March 31, 2026, and total stockholders’ equity was $1,069.0 million. The Board raised the quarterly dividend by 8% to $0.27 per share, payable on June 30, 2026. ePlus also initiated fiscal 2027 guidance for mid‑single‑digit percentage growth in net sales, gross profit and adjusted EBITDA.

Positive

• Strong revenue and earnings growth: Fiscal 2026 net sales increased 22.1% to $2.44 billion, while net earnings from continuing operations rose 62.4% to $124.1 million and adjusted EBITDA grew 49.5% to $204.8 million.
• Shareholder returns and balance sheet strength: The quarterly dividend was raised 8% to $0.27 per share, supported by cash and cash equivalents of $410.8 million and stockholders’ equity of $1,068.97 million as of March 31, 2026.

Negative

• None.

Insights

Equity research analyst

ePlus delivered robust FY 2026 growth with stronger margins and a higher dividend.

ePlus showed broad-based strength in fiscal 2026. Net sales rose 22.1% to $2.44 billion and gross profit increased 20.3% to $616.1 million. Operating income climbed 66.7% to $166.1 million, reflecting operating leverage as expenses grew slower than gross profit.

Profitability metrics improved sharply. Adjusted EBITDA increased 49.5% to $204.8 million, while net earnings from continuing operations rose 62.4% to $124.1 million. Diluted EPS from continuing operations advanced from $2.87 to $4.71, aided by strong product and services growth and disciplined cost control.

The balance sheet remains solid, with cash and cash equivalents of $410.8 million and stockholders’ equity of $1,068.97 million as of March 31, 2026. Management’s decision to increase the quarterly dividend to $0.27 per share and provide fiscal 2027 guidance for mid‑single‑digit growth in net sales, gross profit and adjusted EBITDA signals confidence based on current visibility.

8-K Event Classification

3 items: 2.02, 8.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Fiscal 2026 net sales: $2,442.5 million Fiscal 2026 gross profit: $616.1 million Fiscal 2026 adjusted EBITDA: $204.8 million +5 more

8 metrics

Fiscal 2026 net sales $2,442.5 million Year ended March 31, 2026; up 22.1% vs. prior year

Fiscal 2026 gross profit $616.1 million Year ended March 31, 2026; up 20.3% year over year

Fiscal 2026 adjusted EBITDA $204.8 million Year ended March 31, 2026; up 49.5% vs. prior year

EPS from continuing ops (diluted) $4.71 Fiscal 2026 diluted EPS; prior year $2.87

Q4 2026 net sales $576.2 million Three months ended March 31, 2026; up 20.6% YoY

Q4 2026 adjusted EBITDA $40.1 million Three months ended March 31, 2026; up 40.2% YoY

Cash and cash equivalents $410.8 million Balance as of March 31, 2026 on consolidated balance sheet

Quarterly dividend $0.27 per share Dividend declared for payment on June 30, 2026; 8% increase

Key Terms

Adjusted EBITDA, discontinued operations, non-GAAP, share-based compensation, +1 more

5 terms

Adjusted EBITDA financial

"Adjusted EBITDA increased 49.5% to $204.8 million from $137.0 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

discontinued operations financial

"Net earnings from discontinued operations for the fiscal year ended March 31, 2026, were $8.5 million"

Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.

non-GAAP financial

"We included reconciliations below for the following non-GAAP financial measures"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

share-based compensation financial

"Operating expenses were $449.9 million, up 9.1%... as well as additional fringe benefits and general and administrative costs."

Share-based compensation is when a company pays employees, executives or directors with its own stock or rights to buy stock instead of, or in addition to, cash. Think of it like receiving store gift cards instead of extra paycheck — it can motivate staff to boost the company’s value, but it also increases the number of shares outstanding and can shrink each existing owner’s slice of profits and voting power. Investors watch it because it affects reported earnings, share count and the alignment between management and shareholders.

floor plan financial

"Accounts payable—floor plan was $119,693 at March 31, 2026"

A floor plan is a short-term financing arrangement used by retailers and dealers to buy and carry inventory, where a lender pays for goods up front and the borrower repays as items are sold. Think of it like a credit line specifically for stock on the showroom floor: it keeps cash free for operations but adds interest and repayment obligations, so investors watch it to assess a company’s liquidity, borrowing costs, and inventory-related risk.

Earnings Snapshot

Net sales (FY 2026): $2,442.5 million · Guidance included

Q4 and FY 2026

Net sales (FY 2026) $2,442.5 million +22.1% YoY

Gross profit (FY 2026) $616.1 million +20.3% YoY

Adjusted EBITDA (FY 2026) $204.8 million +49.5% YoY

Diluted EPS from continuing ops (FY 2026) $4.71 up from $2.87 prior year

Net sales (Q4 2026) $576.2 million +20.6% YoY

Adjusted EBITDA (Q4 2026) $40.1 million +40.2% YoY

Guidance

For fiscal 2027, ePlus expects mid-single-digit percentage growth in net sales, gross profit and adjusted EBITDA over the prior fiscal year.

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Available on EDGAR 05/28/2026 - 04:26 PM Accepted by SEC EDGAR 05/28/2026 - 04:25 PM Learn about SEC filing dates

FAQ

How did ePlus (PLUS) perform financially in fiscal year 2026?

ePlus delivered strong fiscal 2026 results, with net sales of $2,442.5 million, up 22.1%. Gross profit increased to $616.1 million, operating income reached $166.1 million, and net earnings from continuing operations rose to $124.1 million, reflecting improved profitability.

What were ePlus (PLUS) fourth quarter 2026 earnings and revenue?

In the fourth quarter of fiscal 2026, ePlus generated net sales of $576.2 million, up 20.6% year over year. Gross profit was $141.6 million and adjusted EBITDA was $40.1 million, both showing solid growth versus the prior-year quarter.

What dividend did ePlus (PLUS) declare and when will it be paid?

ePlus’ Board declared a quarterly cash dividend of $0.27 per common share. The dividend will be paid on June 30, 2026, to shareholders of record as of the close of business on June 17, 2026.

What guidance did ePlus (PLUS) provide for fiscal year 2027?

For fiscal 2027, ePlus issued guidance for mid‑single‑digit percentage growth in net sales, gross profit and adjusted EBITDA over fiscal 2026. This outlook excludes potential recessionary conditions and other unexpected developments that could affect results.

How did ePlus (PLUS) profitability metrics change in fiscal 2026?

Profitability improved significantly, with operating income rising 66.7% to $166.1 million and adjusted EBITDA increasing 49.5% to $204.8 million. Diluted earnings per share from continuing operations grew to $4.71 from $2.87 in the prior year.

What is the financial position of ePlus (PLUS) at March 31, 2026?

As of March 31, 2026, ePlus held cash and cash equivalents of $410.8 million and total stockholders’ equity of $1,068.97 million. Total current assets were $1,427.7 million, and total liabilities were $732.0 million, indicating a strong capital base.

false000102240800010224082026-05-282026-05-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 28, 2026

ePlus inc.

(Exact name of registrant as specified in its charter)

Delaware		001-34167		54-1817218
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

13595 Dulles Technology Drive

Herndon, Virginia 20171-3413

(Address of principal executive offices, including zip code)

(703) 984-8400

(Registrant's telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $.01 par value	PLUS	Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On May 28, 2026, ePlus inc. (the "Company") announced by press release its results of operations for its fourth quarter and fiscal year ended March 31, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. A reconciliation of GAAP results and non-GAAP financial measures is available in the Press Release that is attached hereto as Exhibit 99.1.

In accordance with General Instruction B.2 of Form 8-K, the information in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 8.01 Other Events

On May 28, 2026, the Company also announced that its Board of Directors has declared a quarterly cash dividend of $0.27 per common share to be paid on June 30, 2026, to all shareholders of record as of the close of business on June 17, 2026.

Item 9.01 Financial Statements and Exhibits

(d) The following exhibits are filed as part of this report:

Exhibit No.	Description
99.1	Press release dated May 28, 2026, announcing fourth quarter financial results, and dividend declaration
104	Cover Page Interactive Date File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ePlus inc.

By: /s/ Elaine D. Marion

Elaine D. Marion

Chief Financial Officer

Date: May 28, 2026

Exhibit 99.1

ePlus Reports Fourth Quarter and Fiscal Year 2026 Financial Results

Double Digit Growth Year Over Year Across Key Metrics

  Including Net Sales, Gross Profit and Earnings Per Share

~ Initiates Fiscal 2027 Guidance and Announces Increased Common Stock Dividend of $0.27 Per Share ~

 

Fourth Quarter of Fiscal Year 2026

• Net sales increased 20.6% to $576.2 million; services revenues increased 4.9% to $110.0 million.

• Gross billings increased 11.7% to $881.0 million.

• Gross profit increased 11.6% to $141.6 million.

• Gross margin was 24.6%, compared to 26.5% for last fiscal year’s fourth quarter.

• Net earnings from continuing operations increased 51.7% to $20.5 million.

• Adjusted EBITDA increased 40.2% to $40.1 million.

• Net earnings from continuing operations per common share- diluted increased 52.9% to $0.78. Non-GAAP: net earnings from continuing operations per common share - diluted increased 44.9% to $1.00.

Fiscal Year 2026

• Net sales increased 22.1% to $2,442.5 million; services revenues increased 15.6% to $462.9 million.

• Gross billings increased 17.0% to $3,838.5 million.

• Gross profit increased 20.3% to $616.1 million.

• Gross margin was 25.2%, compared with 25.6% for fiscal year 2025.

• Net earnings from continuing operations increased 62.4% to $124.1 million.

• Adjusted EBITDA increased 49.5% to $204.8 million.

• Net earnings from continuing operations per common share - diluted increased 64.1% to $4.71. Non-GAAP: Net earnings per common share - diluted increased 52.7% to $5.39.

HERNDON, VA – May 28, 2026 – ePlus inc. (NASDAQ: PLUS), a leading provider of technology solutions, today announced financial results for the three months and fiscal year ended March 31, 2026, or the fourth quarter of its 2026 fiscal year.

Management Comment

“In the fourth quarter, we achieved double digit growth across both net sales and gross billings, demonstrating expanding market share, and underscoring the durability and resilience of our business, ” said Mark Marron, president and CEO of ePlus. “We had a very strong fiscal 2026 signaling strong execution from our team.  We saw revenue grow 22% to $2.4 billion and gross billings expand to $3.8 billion, an increase of 17% while generating adjusted EBITDA of $205 million, an increase of 50%, delivering meaningful operating leverage for the year.  With a healthy balance sheet, including cash of $411 million, we continued to enhance shareholder value through a share repurchase plan and are increasing our quarterly dividend by 8% to $0.27 per common share.

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“ePlus’ services-led strategy, especially as it relates to the leveraging of our AI consulting services capabilities, makes us nimble enough to capture emerging opportunities and large enough to scale solutions for large enterprises, enabling us to help our customers in a rapidly evolving IT environment. We believe we are well positioned to capture market opportunity and scale growth over the long term,” Mr. Marron concluded.

Fourth Quarter Fiscal Year 2026 Results

On June 30, 2025, we completed the sale of our domestic financing business. Consequently, alongside the results of our continuing operations, we are retrospectively presenting the results of our domestic financing business as discontinued operations, for all prior periods.

For the fourth quarter ended March 31, 2026, as compared to the fourth quarter ended March 31, 2025:

Net sales increased 20.6% to $576.2 million, from $477.9 million due to higher product sales and higher service revenue. Gross billings increased 11.7% to $881.0 million from $789.0 million.

Product segment sales increased 25.0% to $466.1 million from $373.0 million due to increases in revenue from networking, cloud, security, and collaboration products. Product segment gross margin was 22.2%, down from 24.7% last year due to a shift in product mix along with a decrease in the proportion of sales recorded on a net basis.

Professional services segment revenues increased 1.6% year over year to $61.3 million from $60.4 million, primarily due to increases in project services revenue, offset by decreases in consulting and staff augmentation revenues. Gross margin increased to 38.3% from 35.9% during the same period last year due to a shift in mix.

Managed services segment revenue increased 9.3% to $48.7 million primarily due to additional revenue from cloud services. Gross profit from our managed services segment increased 14.3% from last year due to the increase in revenue and an increase in gross margin to 30.5% from 29.1% in the prior year quarter.

Gross profit increased 11.6% to $141.6 million, from $126.9 million, due to increases in all three segments. Gross margin was 24.6%, compared with 26.5% in the prior year quarter, due to lower gross margin from our product segment.

Operating expenses were $110.7 million, up 2.4% from $108.1 million last year, primarily due to an increase in variable compensation and share-based compensation.

Operating income increased 64.7% to $30.9 million. Other income (expense), net was an expense of $0.6 million compared to income of $1.0 million last year as this year’s quarter included a charge of $3.0 million relating to the disposition of our financing business offset by interest income of $2.4 million. Earnings from continuing operations before taxes increased 53.6% to $30.3 million.

Our effective tax rate for the current quarter was 32.2%, which was higher than the prior year quarter of 31.4% due to higher state income taxes and non-deductible expenses.

2

Net earnings from continuing operations increased 51.7% to $20.5 million from $13.5 million in the prior year quarter. Adjusted EBITDA increased 40.2% to $40.1 million from $28.6 million in the prior year quarter. Net earnings from continuing operations per common share-diluted was $0.78, compared with $0.51 in the prior year quarter. Non-GAAP net earnings per common share from continuing operations was $1.00, compared with $0.69 in the prior year quarter.

Net earnings (loss) from discontinued operations for the three months ending March 31, 2026, was ($0.4) million, as compared to $3.9 million for the same three-month period in the prior year.  Net earnings (loss) from discontinued operations per common share-diluted was ($0.02), compared with $0.15 in the prior year quarter.

Fiscal Year 2026 Results

For the fiscal year ended March 31, 2026, as compared to the fiscal year ended March 31, 2025:

Net sales increased 22.1% to $2,442.5 million, from $2,000.2 million due to higher product sales and higher services revenue. Gross billings increased 17.0% to $3,838.5 million from $3,280.4 million.

Product segment sales increased 23.8% to $1,979.3 million from $1,599.4 million due to increases in revenue from cloud, networking, and security products, offset by a decline in collaboration products. Product segment gross margin was 22.9%, down from 23.1% last year due to a shift in mix.

Professional services segment revenues increased 19.4% year over year to $273.4 million from $229.0 million, primarily due to the acquisition of Bailiwick Services, LLC, on August 19, 2024. Professional services gross margin declined to 38.7% from 39.5% last year due to the addition of Bailiwick Services, LLC, which has services margins that are generally lower than our legacy professional services.

Managed services segment revenue increased 10.6% to $189.4 million, primarily due to additional sales of cloud services and enhanced maintenance support. Gross profit from the managed services segment increased 10.1% from last year due to the increase in revenue, offset by a slight decline in gross margin to 29.8% from 29.9% in the prior year.

Gross profit increased 20.3% to $616.1 million, from $512.1 million, due to increases from all segments. Gross margin was 25.2%, compared with last year’s 25.6%, due to lower gross margin from our product segment as a result of a shift in mix.

Operating expenses were $449.9 million, up 9.1% from $412.4 million last year, primarily due to increases in variable compensation commensurate with the increase in our gross profit, as well as additional fringe benefits and general and administrative costs.

Operating income increased 66.7% to $166.1 million. Other income was $7.3 million compared to $6.4 million last year, as higher interest income was offset by adjustments to the fair value of a contingent consideration receivable.  Earnings from continuing operations before taxes increased 63.4% to $173.4 million.

Our effective tax rate for the fiscal year ended March 31, 2026, was 28.4%, higher than the prior fiscal year of 28.0%, due to higher state income taxes and non-deductible expenses.

3

Net earnings from continuing operations increased 62.4% to $124.1 million from $76.4 million in the prior year. Adjusted EBITDA increased 49.5% to $204.8 million from $137.0 million in the prior year period. Net earnings from continuing operations per common share-diluted was $4.71, compared with $2.87 in the prior year. Non-GAAP net earnings from continuing operations per common share-diluted was $5.39, compared with $3.53 in the prior year.

Net earnings from discontinued operations for the fiscal year ended March 31, 2026, were $8.5 million, a decrease of $19.6 million, as compared to $28.1 million in the prior year. The decrease was due to the sale of our domestic financing business on June 30, 2025. Net earnings from discontinued operations per common share-diluted was $0.32, compared with $1.06 in the prior year.

Balance Sheet Highlights

As of March 31, 2026, cash and cash equivalents were $410.8 million, up from $389.4 million last year, as proceeds from the sale of our domestic financing business were offset by working capital needs. Inventory increased 66.8% to $200.9 million as of March 31, 2026 compared with $120.4 million as of March 31, 2025 due to an increase in projects in process. Accounts receivable—trade, net increased 31.4% to $667.8 million as of March 31, 2026 from $508.3 million as of March 31, 2025. Total stockholders’ equity was $1,069.0 million as of March 31, 2026, compared with $970.7 million as of March 31, 2025. Total shares outstanding were 26.3 million and 26.5 million on March 31, 2026 and March 31, 2025, respectively.

Fiscal Year Guidance

ePlus is initiating fiscal year 2027 guidance for percentage growth over the prior fiscal year of mid-single digits for net sales, gross profit and adjusted EBITDA.

This guidance does not factor in recessionary conditions, or other unexpected developments.  ePlus cannot predict with reasonable certainty and without unreasonable effort, the ultimate outcome of unusual gains and losses, the occurrence of matters creating GAAP tax impacts, fluctuations in interest expense or interest income and share-based compensation, and acquisition- or disposition-related expenses.  These items are uncertain, depend on various factors, and could be material to ePlus' results computed in accordance with GAAP.  Accordingly, ePlus is unable to provide a reconciliation of GAAP net earnings to adjusted EBITDA for the full fiscal year 2027 forecast.

Summary and Outlook

“As we look ahead to fiscal 2027, we are operating from a position of strength with solid industry fundamentals that support growth for the coming year. Our long-term strategy includes expanding and enhancing our solutions, services and footprint, and deepening our customer relationships all while delivering solid financial performance.  We have a strong financial position and healthy liquidity, enabling a disciplined capital allocation approach that fuels long-term growth organically and with M&A opportunities. We remain committed to enhancing shareholder returns over time,” concluded Mr. Marron.

4

ePlus Announces Quarterly Dividend

ePlus announced today that its Board of Directors has declared a quarterly cash dividend of $0.27 per common share which will be paid on June 30, 2026, to shareholders of record as of the close of business on June 17, 2026.

Recent Corporate Developments/Recognitions

In the fourth quarter of its 2026 fiscal year:

o ePlus appointed Mike Portegello to its Board of Directors

o ePlus Technology subsidiary Bailiwick was selected for the prestigious National Retail Federation Innovators Showcase for digital lock technology

o ePlus Vice President, Dori White, was named Solution Provider Marketing Executive of the Year in CRN’s 2025 Women of the Year Awards

o ePlus Launches Private AI Infrastructure Managed Service

Conference Call Information

ePlus will hold a conference call and webcast at 4:30 p.m. ET on May 28, 2026:

Date:	May 28, 2026
Time:	4:30 p.m. ET
Audio Webcast (Live & Replay):	https://events.q4inc.com/attendee/661235710
Live Call:	(888) 596-4144 (toll-free/domestic)
	(646) 968-2525 (international)
Archived Call:	(800) 770-2030 (toll-free/domestic)
	(609) 800-9909 (international)
Conference ID:	8293082# (live call and replay)

A replay of the call will be available approximately two hours after the call through June 4, 2026.

About ePlus inc.

ePlus is a customer-first, services-led, and results-driven industry leader offering transformative technology solutions and services to provide the best customer outcomes. Offering a full portfolio of solutions, including artificial intelligence, security, cloud and data center, networking, and collaboration, as well as managed, consultative and professional services, ePlus works closely with organizations across many industries to successfully navigate business challenges. With a long list of industry-leading partners and approximately 2,150 employees, our expertise has been honed over more than three decades, giving us specialized yet broad levels of experience and knowledge. ePlus is headquartered in Virginia, with locations in the United States, United Kingdom, Europe, and Asia‐Pacific. For more information, visit www.eplus.com, call 888-482-1122, or email info@eplus.com. Connect with ePlus on LinkedIn, X, Facebook, and Instagram.

ePlus, Where Technology Means More®.

5

ePlus® and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries.

Forward-looking statements

Statements in this press release that are not historical facts may be deemed to be “forward-looking statements,” including, among other things, statements regarding the future financial performance of ePlus. Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, financial losses resulting from national and international political instability fostering uncertainty and volatility in the global economy including changes in interest rates, tariffs, inflation, export requirements applicable to products we sell, sanctions and exposure to foreign currency rate changes; supply chain issues, including a shortage of information technology (“IT”) component parts and products, and our vendors’ rapid and unpredictable price fluctuations relating thereto, or a customer’s or vendor’s cancellation of orders such as for, but not limited to, memory chips, which may increase our and the customer’s costs, decrease gross profit, cause a delay in fulfilling or inability to fulfill customer orders, increase our need for working capital, delay the completion of professional services, or require the purchase of IT products or services needed to support our internal infrastructure or operations, resulting in an adverse impact on our financial results; significant adverse changes in our relationship with one or more of our larger customer accounts or vendors, including decreased account profitability, reductions in contracted services, or a loss of such relationships; risks relating to artificial intelligence (“AI”), including the use or capabilities of AI and emerging laws, rules and regulations related to AI; our ability to manage a diverse product set of solutions, including AI products and services, in highly competitive markets with a number of key vendors; changes in the IT industry and/or rapid changes in product offerings, including the proliferation of the cloud, infrastructure as a service (“IaaS”), software as a service (“SaaS”), platform as a service (“PaaS”), and AI which may affect our financial results; our ability to remain secure during a cybersecurity attack or other IT outage, including disruptions in our, our vendors or a third party’s IT systems and data and audio communication networks; a material decrease in the credit quality of our customer base, or a material increase in our credit losses; increases to our costs including wages and our ability to increase our prices to our customers as a result, or negative financial impacts due to the pricing arrangements we have with our customers; reliance on third parties to perform some of our service obligations to our customers, and the reliance on a small number of key vendors in our supply chain with whom we do not have long-term supply agreements, guaranteed price agreements, or assurance of stock availability; the possibility of a reduction of vendor incentives provided to us; our inability to identify merger and acquisition candidates, perform sufficient due diligence prior to completing mergers and acquisitions, successfully complete merger and acquisition transactions (including on favorable terms), successfully integrate a completed merger and/or acquisition, identify an opportunity for, or successfully complete a business disposition, or achieve the operational and financial results we anticipate after a disposition (such as from completing the sale of our domestic financing business); our ability to secure our own and our customers’ electronic and other confidential information, while maintaining compliance with evolving data privacy and cybersecurity laws and regulations and appropriately providing required notice and disclosure of cybersecurity incidents when and if necessary; our dependence on key personnel to maintain certain customer relationships, and our ability to hire, train, and retain sufficient qualified personnel by recruiting and retaining highly skilled, competent personnel with needed vendor certifications;  inadequate design or maintenance of our IT platforms for internal use or solutions we offer to our customers or our inability to effectively and timely capitalize on the opportunities made available by the adoption of AI and not having adequate or competent IT personnel to support our business;  cybersecurity attacks that have occurred while employees work remotely and our ability to adequately train our personnel to prevent a cyber event; our ability to raise capital, maintain or increase, as needed, our lines of credit with vendors or our floor plan facility, or the effect of those matters on our common stock price; our ability to predictably meet expectations of the investor and analyst community, including relative to our financial performance guidance that we provide, including based on the continuation of dividends and share repurchases; our ability to implement comprehensive plans for the integration of sales forces, cost containment, asset rationalization, systems integration, and other key strategies following mergers and acquisitions; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission.

6

The declaration and payment of future dividends are subject to the sole discretion of our Board of Directors.

All information set forth in this press release is current as of the date of this release and ePlus undertakes no duty or obligation to update this information either as a result of new information, future events or otherwise, except as required by applicable U.S. securities law.

Contact:

Kley Parkhurst, SVP

ePlus inc.

kparkhurst@eplus.com

703-984-8150

7

ePlus inc. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except per share amounts)

		March 31, 2026				March 31, 2025
ASSETS
Current assets:
Cash and cash equivalents		$	410,769			$	389,375
Accounts receivable—trade, net			667,831				508,272
Accounts receivable—other, net			38,896				19,382
Inventories			200,888				120,440
Deferred costs			77,748				66,769
Other current assets			31,602				31,437
Current assets of discontinued operations			-				222,399
Total current assets			1,427,734				1,358,074
Deferred tax asset			8,955				3,658
Property, equipment and other assets—net			100,039				98,657
Goodwill			202,880				202,858
Other intangible assets—net			61,344				82,007
Non-current assets of discontinued operations			-				133,835
TOTAL ASSETS		$	1,800,952			$	1,879,089
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Current liabilities:
Accounts payable		$	264,605			$	323,890
Accounts payable—floor plan			119,693				89,527
Salaries and commissions payable			48,590				42,722
Deferred revenue			168,127				154,067
Other current liabilities			37,128				22,463
Current liabilities of discontinued operations			-				166,463
Total current liabilities			638,143				799,132
Deferred tax liability—long-term			-				1,454
Deferred revenue—long-term			83,010				81,759
Other liabilities			10,829				13,540
Non-current liabilities of discontinued operations			-				12,546
TOTAL LIABILITIES			731,982				908,431
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred stock, $0.01 per share par value; 2,000 shares authorized; none outstanding			-				-
Common stock, $0.01 per share par value; 50,000 shares authorized; 27,765 shares issued and 26,299  outstanding at March 31, 2026 and 27,582 shares issued and 26,526 outstanding at March 31, 2025			278				276
Additional paid-in capital			210,274				194,475
Treasury stock, at cost, 1,466 shares at March 31, 2026 and 1,056 shares at March 31, 2025			(101,944	)			(70,748	)
Retained earnings			956,000				843,214
Accumulated other comprehensive income—foreign currency translation adjustment			4,362				3,441
Total Stockholders' Equity			1,068,970				970,658
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$	1,800,952			$	1,879,089

8

ePlus inc. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

		Three Months Ended March 31,								Year Ended March 31,
		2026				2025				2026				2025
Net sales
Product		$	466,202			$	373,049			$	1,979,664			$	1,599,791
Services			109,972				104,874				462,885				400,377
Total			576,174				477,923				2,442,549				2,000,168
Cost of sales
Product			362,868				280,790				1,525,960				1,229,495
Services			71,679				70,262				300,508				258,553
Total			434,547				351,052				1,826,468				1,488,048
Gross profit			141,627				126,871				616,081				512,120
Selling, general, and administrative			104,552				100,612				423,393				386,681
Depreciation and amortization			6,171				7,493				26,543				25,753
Operating expenses			110,723				108,105				449,936				412,434
Operating income			30,904				18,766				166,145				99,686
Other income (expense), net			(605	)			964				7,293				6,438
Earnings from continuing operations before tax			30,299				19,730				173,438				106,124
Provision for income taxes			9,753				6,189				49,318				29,685
Net earnings from continuing operations			20,546				13,541				124,120				76,439
Earnings (loss) from discontinued operations, net of tax			(400	)			3,913				8,516				28,137
Net earnings		$	20,146			$	17,454			$	132,636			$	104,576
Earnings per common share—basic
Continuing operations		$	0.79			$	0.51			$	4.73			$	2.88
Discontinued operations			(0.02	)			0.15				0.32				1.06
Earnings per common share—basic		$	0.77			$	0.66			$	5.05			$	3.94
Earnings per common share—diluted
Continuing operations		$	0.78			$	0.51			$	4.71			$	2.87
Discontinued operations			(0.02	)			0.15				0.32				1.06
Earnings per common share—diluted		$	0.76			$	0.66			$	5.03			$	3.93
Weighted average common shares outstanding—basic			26,127				26,307				26,234				26,503
Weighted average common shares outstanding—diluted			26,262				26,422				26,371				26,666

9

Segment Results

		Three Months Ended												Year Ended
		March 31,												March 31,
		2026				2025				Change				2026				2025				Change
Net sales
Product segment		$	466,092			$	372,972				25.0	%		$	1,979,288			$	1,599,369				23.8	%
Professional services segment			61,300				60,354				1.6	%			273,438				229,030				19.4	%
Managed services segment			48,672				44,520				9.3	%			189,447				171,347				10.6	%
Other			110				77				42.9	%			376				422				(10.9	%)
Total		$	576,174			$	477,923				20.6	%		$	2,442,549			$	2,000,168				22.1	%
Gross profit
Product segment		$	103,288			$	92,248				12.0	%		$	453,564			$	370,153				22.5	%
Professional services segment			23,464				21,638				8.4	%			105,910				90,517				17.0	%
Managed services segment			14,829				12,974				14.3	%			56,467				51,307				10.1	%
Other			46				11				318.2	%			140				143				(2.1	%)
Total		$	141,627			$	126,871				11.6	%		$	616,081			$	512,120				20.3	%
Gross Billings by Type
Networking		$	268,121			$	213,621				25.5	%		$	1,152,117			$	929,708				23.9	%
Cloud			244,024				220,967				10.4	%			1,016,717				865,855				17.4	%
Security			174,349				177,341				(1.7	%)			841,523				683,597				23.1	%
Collaboration			22,791				18,295				24.6	%			109,460				120,369				(9.1	%)
Other			58,378				51,347				13.7	%			252,073				244,997				2.9	%
Product segment			767,663				681,571				12.6	%			3,371,890				2,844,526				18.5	%
Services			113,293				107,394				5.5	%			466,567				435,921				7.0	%
Total		$	880,956			$	788,965				11.7	%		$	3,838,457			$	3,280,447				17.0	%
Net Sales by Type
Product segment
Networking		$	226,574			$	178,820				26.7	%		$	933,818			$	781,703				19.5	%
Cloud			157,853				134,343				17.5	%			668,471				509,774				31.1	%
Security			51,680				48,739				6.0	%			239,731				191,872				24.9	%
Collaboration			10,184				8,205				24.1	%			51,917				55,483				(6.4	%)
Other			19,801				2,865				591.1	%			85,351				60,537				41.0	%
Total products segment			466,092				372,972				25.0	%			1,979,288				1,599,369				23.8	%
Professional services segment			61,300				60,354				1.6	%			273,438				229,030				19.4	%
Managed services segment			48,672				44,520				9.3	%			189,447				171,347				10.6	%
Other			110				77				42.9	%			376				422				(10.9	%)
Total net sales		$	576,174			$	477,923				20.6	%		$	2,442,549			$	2,000,168				22.1	%
Net Sales by Customer End Market
Telecom, media & entertainment		$	182,460			$	101,268				80.2	%		$	720,616			$	453,892				58.8	%
Healthcare			76,913				74,289				3.5	%			314,949				286,474				9.9	%
SLED			70,927				72,176				(1.7	%)			308,681				333,371				(7.4	%)
Financial services			67,992				44,097				54.2	%			244,675				174,798				40.0	%
Technology			59,119				65,078				(9.2	%)			300,783				300,465				0.1	%
Retail			29,988				35,431				(15.4	%)			136,415				103,185				32.2	%
All other			88,775				85,584				3.7	%			416,430				347,983				19.7	%
Total net sales		$	576,174			$	477,923				20.6	%		$	2,442,549			$	2,000,168				22.1	%

10

Amounts for 2025 reflect the correction of certain misstatements, which we determined are not material either individually or in the aggregate. See our Form 10-K for the year ended March 31,2026, including Note 2 to the Consolidated Financial Statements, for more information.

ePlus inc. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP INFORMATION

We included reconciliations below for the following non-GAAP financial measures: (i) Adjusted EBITDA, (ii) Non-GAAP: Net earnings from continuing operations and (iii) Non-GAAP Net earnings from continuing operations per common share - diluted.

We define Adjusted EBITDA as net earnings from continuing operations calculated in accordance with US GAAP, adjusted for the following: interest expense, depreciation and amortization, share-based compensation, acquisition related expenses, provision for income taxes, and other income (expense).

Non-GAAP: Net earnings from continuing operations and Non-GAAP Net earnings from continuing operations per common share – diluted are based on net earnings from continuing operations calculated in accordance with US GAAP, adjusted to exclude other (income) expense, share-based compensation, and acquisition related amortization expenses, and the related tax effects.

We use the above non-GAAP financial measures as supplemental measures of our performance to gain insight into our operating performance and performance trends. We believe that these financial measures provide management and investors with a useful measure for period-to-period comparisons of our business and operating results by excluding items that management believes are not reflective of our underlying operating performance. Accordingly, we believe that such non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results.

Our use of non-GAAP information as analytical tools has limitations, and should not be considered in isolation or as substitutes for analysis of our financial results as reported under US GAAP. In addition, other companies, including companies in our industry, might calculate Adjusted EBITDA, Non-GAAP: Net earnings from continuing operations and Non-GAAP: Net earnings from continuing operations per common share-diluted, or similarly titled measures differently, which may reduce their usefulness as comparative measures.

11

The amounts in the tables below are results from our continuing operations (in thousands):

(i) Reconciliation of Adjusted EBITDA

		Three Months Ended March 31,								Year Ended March 31,
		2026				2025				2026				2025
GAAP: Net earnings from continuing operations		$	20,546			$	13,541			$	124,120			$	76,439
Provision for income taxes			9,753				6,189				49,318				29,685
Share-based compensation			2,989				2,318				12,134				10,502
Acquisition related expenses			-				-				-				1,072
Depreciation and amortization [1]			6,171				7,493				26,543				25,753
Other (income) expense, net [2]			605				(964	)			(7,293	)			(6,438	)
Non-GAAP: Adjusted EBITDA		$	40,064			$	28,577			$	204,822			$	137,013

(ii) Reconciliation of Non-GAAP: Net earnings from continuing operations

		Three Months Ended March 31,								Year Ended March 31,
		2026				2025				2026				2025
GAAP: Net earnings from continuing operations before tax		$	30,299			$	19,730			$	173,438			$	106,124
Share-based compensation			2,989				2,318				12,134				10,502
Acquisition related expenses			-				-				-				1,072
Acquisition related amortization expense [3]			4,758				5,749				20,625				19,929
Other (income) expense, net [2]			605				(964	)			(7,293	)			(6,438	)
Non-GAAP: Earnings from continuing operations before tax			38,651				26,833				198,904				131,189
GAAP: Provision for income taxes			9,753				6,189				49,318				29,685
Share-based compensation			966				729				3,490				2,992
Acquisition related expenses			-				-				-				300
Acquisition related amortization expense [3]			1,571				1,706				5,934				5,495
Other (income) expense, net [2]			200				(290	)			(2,043	)			(1,788	)
Tax benefit on restricted stock			35				14				136				527
Non-GAAP: Provision for income taxes			12,525				8,348				56,835				37,211
Non-GAAP: Net earnings from continuing operations		$	26,126			$	18,485			$	142,069			$	93,978

(iii) Reconciliation of Non-GAAP: Net earnings from continuing operations per common share - diluted

		Three Months Ended March 31,								Year Ended March 31,
		2026				2025				2026				2025
GAAP: Net earnings from continuing operations per common share - diluted		$	0.78			$	0.51			$	4.71			$	2.87
Share-based compensation			0.08				0.06				0.33				0.28
Acquisition related expenses			-				-				-				0.03
Acquisition related amortization expense [3]			0.12				0.15				0.56				0.54
Other (income) expense, net [2]			0.02				(0.03	)			(0.20	)			(0.17	)
Tax (benefit) on restricted stock			-				-				(0.01	)			(0.02	)
Total non-GAAP adjustments - net of tax			0.22				0.18				0.68				0.66
Non-GAAP: Net earnings from continuing operations per common share - diluted		$	1.00			$	0.69			$	5.39			$	3.53

[1] Amount consists of depreciation and amortization for assets used internally.

[2] Interest income, foreign currency transaction gains and losses, and adjustments to the fair value of contingent consideration.

[3] Amount consists of amortization of intangible assets from acquired businesses.

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