SEGMENT REPORTING (Tables)

9 Months Ended

Dec. 31, 2025

Segment Reporting Information, by Reportable Segment

The following table provides reportable segment information (in thousands):

		Three months ended				Nine months ended
		December 31,				December 31,
		2025		2024		2025		2024
Net sales
Product	$	501,827	$	379,472	$	1,507,736	$	1,226,397
Professional services		64,065		69,497		212,138		168,676
Managed services		48,778		44,150		140,775		126,827
Total reportable segments		614,670		493,119		1,860,649		1,521,900
Other		104		102		266		345
Total		614,774		493,221		1,860,915		1,522,245

Cost of sales
Product		382,506		295,426		1,162,920		954,487
Professional services		38,944		41,656		129,692		99,797
Managed services		34,627		30,990		99,137		88,494
Total reportable segments		456,077		368,072		1,391,749		1,142,778
Other		43		71		172		213
Total		456,120		368,143		1,391,921		1,142,991

Gross profit
Product		119,321		84,046		344,816		271,910
Professional services		25,121		27,841		82,446		68,879
Managed services		14,151		13,160		41,638		38,333
Total reportable segments		158,593		125,047		468,900		379,122
Other		61		31		94		132
Total	$	158,654	$	125,078	$	468,994	$	379,254

Disaggregation of Net Sales and Revenue Recognized from Contracts with Customers

The following tables provide a disaggregation of revenue recognized from contracts with customers by timing and our position as principal or agent (in thousands):


		Three months ended December 31, 2025
		Product		Professional Services		Managed Services		Total
Timing and position as principal or agent:
Transferred at a point in time as principal	$	442,245	$	-	$	-	$	442,245
Transferred at a point in time as agent		59,582		-		-		59,582
Transferred over time as principal		-		64,065		48,778		112,843
Total revenue from contracts with customers	$	501,827	$	64,065	$	48,778	$	614,670


		Nine months ended December 31, 2025
		Product		Professional Services		Managed Services		Total
Timing and position as principal or agent:
Transferred at a point in time as principal	$	1,338,093	$	-	$	-	$	1,338,093
Transferred at a point in time as agent		169,643		-		-		169,643
Transferred over time as principal		-		212,138		140,775		352,913
Total revenue from contracts with customers	$	1,507,736	$	212,138	$	140,775	$	1,860,649


		Three months ended December 31, 2024
		Product		Professional Services		Managed Services		Total
Timing and position as principal or agent:
Transferred at a point in time as principal	$	331,956	$	-	$	-	$	331,956
Transferred at a point in time as agent		47,516		-		-		47,516
Transferred over time as principal		-		69,497		44,150		113,647
Total revenue from contracts with customers	$	379,472	$	69,497	$	44,150	$	493,119


		Nine months ended December 31, 2024
		Product		Professional Services		Managed Services		Total
Timing and position as principal or agent:
Transferred at a point in time as principal	$	1,092,495	$	-	$	-	$	1,092,495
Transferred at a point in time as agent		133,902		-		-		133,902
Transferred over time as principal		-		168,676		126,827		295,503
Total revenue from contracts with customers	$	1,226,397	$	168,676	$	126,827	$	1,521,900

Technology Segment Disaggregation of Revenue

The following table provides a disaggregation of our revenue from contracts with customers by customer end market and by type (in thousands):


		Three months ended December 31,				Nine months ended December 31,
		2025		2024		2025		2024
Customer end market:
Telecom, Media & Entertainment	$	176,405	$	126,201	$	538,156	$	352,624
Technology		89,368		71,293		241,664		235,387
Healthcare		81,460		58,670		238,036		212,185
Financial Services		66,104		46,217		176,683		130,701
SLED		59,946		71,412		237,754		261,195
Retail		34,394		33,785		106,427		67,754
All others		106,993		85,541		321,929		262,054
Total revenue from contracts with customers	$	614,670	$	493,119	$	1,860,649	$	1,521,900

Type:
Product segment:
Networking	$	230,886	$	181,367	$	707,244	$	602,883
Cloud		175,352		116,864		510,618		375,431
Security		61,055		53,919		188,051		143,133
Collaboration		13,418		8,391		41,733		47,278
Other		21,116		18,931		60,090		57,672
Total product segment		501,827		379,472		1,507,736		1,226,397
Professional services segment		64,065		69,497		212,138		168,676
Managed services segment		48,778		44,150		140,775		126,827
Total revenue from contracts with customers	$	614,670	$	493,119	$	1,860,649	$	1,521,900

EPLUS INC 10-Q