Financial Performance - Total net sales for Q2 2024 were $2,161,662, a decrease of 8.0% compared to $2,349,596 in Q2 2023[11] - Gross profit increased to $453,365 in Q2 2024, up 4.6% from $433,190 in Q2 2023[11] - Net earnings for Q2 2024 were $87,444, representing a 4.0% increase from $80,482 in Q2 2023[11] - Earnings from operations rose to $131,073 in Q2 2024, compared to $118,611 in Q2 2023, marking an increase of 10.3%[11] - The company reported a gross margin improvement, with gross profit as a percentage of total net sales increasing to 20.9% in Q2 2024 from 18.4% in Q2 2023[11] - Services net sales increased by 7.7% to $435,227 in Q2 2024, compared to $403,987 in Q2 2023[11] - Net earnings for the quarter ending June 30, 2024, were reported at $87,444, compared to $80,482 for the same period in 2023, representing an increase of 8.4% year-over-year[15] - Net earnings for the second quarter of 2024 reached $154,471,000, an increase from $130,454,000 in the same period of 2023, representing a growth of approximately 18.4%[17] Cash Flow and Liquidity - Net cash provided by operating activities was $292,964,000 for the six months ended June 30, 2024, compared to $187,960,000 for the same period in 2023, indicating a significant increase of about 55.7%[17] - Cash and cash equivalents at the end of the period on June 30, 2024 was $258,350,000, down from $270,785,000 at the beginning of the period[140] - The company reported a decrease in cash, cash equivalents, and restricted cash of $12,435,000 for the period, ending with a total of $258,350,000[17] - Operating activities generated $293.0 million in cash for the six months ended June 30, 2024, up from $188.0 million in the same period of 2023, reflecting a 56% increase[141] Equity and Stock Repurchases - As of June 30, 2024, total stockholders' equity increased to $1,847,545, up from $1,755,491 at March 31, 2024, reflecting a growth of approximately 5.2%[15] - The company repurchased treasury stock worth $99,980 during the quarter, impacting total stockholders' equity[15] - The company repurchased 187,357 shares of common stock for a total cost of $35,000,000 during the six months ended June 30, 2024, at an average price of $186.81 per share[50] - The company repurchased 720,175 shares for $99,980,000 at an average price of $138.83 per share during Q2 2023, while no shares were repurchased in Q2 2024[9][10] Debt and Financing - The company’s long-term debt as of June 30, 2024, totaled $995,072,000, with a long-term debt portion of $663,075,000 after accounting for the current portion[35] - The company issued $500,000,000 of 6.625% Senior Notes due 2032, with net proceeds used to repay a portion of outstanding borrowings under the ABL facility[36] - Borrowings on the ABL revolving credit facility amounted to $2,451,966,000, while repayments totaled $2,872,410,000 during the financing activities[17] - The company has a maximum borrowing amount under the ABL facility of $1,800,000,000, with $171,283,000 outstanding as of June 30, 2024[35] Segment Performance - The company is organized into three operating segments: North America, EMEA, and APAC, focusing on hardware, software, and services including cloud solutions[19] - For the three months ended June 30, 2024, total revenue was $2,161,662,000, with North America contributing $1,732,357,000, EMEA $368,873,000, and APAC $60,432,000[60] - Net sales in North America decreased by 9%, or $164.8 million, for the three months ended June 30, 2024, primarily due to lower hardware and software sales[104] - Net sales in EMEA decreased 6%, or $22.9 million, for the three months ended June 30, 2024, compared to the same period in 2023, with software and hardware sales decreasing by 15% and 5%, respectively[108] - In APAC, net sales were relatively flat for the three months ended June 30, 2024, with a slight increase of 1% year over year, driven by a 12% increase in services net sales[110] Operational Efficiency and Future Outlook - The company expects to continue facing supply constraints but believes they have normalized back to near historic levels[5] - Future capital expenditures are projected to increase as the company continues to evolve its IT systems and expand its cloud business[5] - The company aims to enhance operational efficiency through shared services and infrastructure to realize economies of scale[66] - The company expects continued higher interest rates due to inflation, which may impact financial condition and liquidity into the second half of 2024[97] Tax and Compliance - The effective tax rate is expected to return to more typical levels in the foreseeable future[5] - Effective tax rates for the three and six months ended June 30, 2024 were 25.5% and 24.8%, respectively, compared to 26.3% and 25.7% for the same periods in 2023[6][7] - As of June 30, 2024, the company had approximately $11,720,000 of unrecognized tax benefits, down from $13,947,000 as of December 31, 2023[7] Acquisitions - The acquisition of Infocenter.io Corporation was completed for a cash purchase price of $265,000,000, with an estimated fair value of earnout payments of $24,200,000 based on EBITDA performance through April 2026[75] - The acquisition of SADA Systems, LLC was finalized for a cash purchase price of $399,762,000, with an additional earnout potential of up to $390,000,000 based on performance through 2026[79] - Amdaris Group Limited was acquired for a preliminary cash purchase price of approximately $82,875,000, with an earnout range of $0 to $54,391,000 through 2026[88]

Insight Enterprises (NSIT) reported $2.16 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 8%. EPS of $2.46 for the same period compares to $2.56 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $2.45 billion, representing a surprise of -11.60%. The company delivered an EPS surprise of -13.68%, with the consensus EPS estimate being $2.85. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wa ...

Have you looked into how Insight Enterprises (NSIT) performed internationally during the quarter ending March 2024? Considering the widespread global presence of this information technology provider, examining the trends in international revenues is essential for assessing its financial resilience and prospects for growth.In the current global economy, which is more interconnected than ever, a company's success in penetrating international markets is crucial for its financial health and growth journey. Inve ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potenti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 0-25092 INSIGHT ENTERPRISES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdict ...

EXHIBIT 99.1 FOR IMMEDIATE RELEASE NASDAQ: NSIT INSIGHT ENTERPRISES, INC. REPORTS RECORD FIRST QUARTER RESULTS CHANDLER, AZ – May 2, 2024 – Insight Enterprises, Inc. (NASDAQ: NSIT) (the "Company") today reported financial results for the quarter ended March 31, 2024. Highlights include: In the first quarter of 2024, net sales increased 2%, year over year, and we achieved record gross profit of $440.9 million, an increase of 13%, year over year. Gross margin expanded 170 basis points compared to the first qu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 o Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________ to ___________. Commission File Number: 0-25092 INSIGHT ENTERPRISES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdicti ...

Financial Data and Key Metrics - Adjusted diluted earnings per share grew by 18% in Q4 2023, driven by acquisitions made in the second half of the year [14] - Total gross profit increased by 4% despite a decline in hardware gross profit, with cloud and services driving growth [15] - Gross margin expanded by 250 basis points to 18.2% for the full year 2023 [18] - Cloud gross profit grew 26% to $429 million in 2023 [18] - Insight Core Services gross profit grew 8% to $273 million in 2023 [19] - Adjusted EBITDA margin expanded by 100 basis points to 5.7% in 2023 [19] - Operating cash flow was $620 million in 2023, a significant increase from $98 million in 2022 [19] - Net revenue for 2023 was $9.2 billion, a decrease of 12% year-over-year [42] - Adjusted diluted earnings per share for 2023 were $9.69, up 6% [43] - Q4 2023 net revenue was $2.2 billion, a decrease of 11% year-over-year, primarily due to a 22% decline in hardware [46] - Cloud gross profit in Q4 2023 was $130 million, an increase of 43% [47] - Adjusted diluted earnings per share for Q4 2023 was $2.98, up 18% [47] Business Line Performance - Device revenue showed sequential improvement but demand remained muted in Q4 2023 [14] - Infrastructure orders softened in December 2023 as clients deployed shipments from earlier in the year [15] - Cloud and Insight Core Services were standout performers in Q4 2023, driven by acquisitions [38] - Hardware revenue declined by 22% in Q4 2023, primarily due to devices and infrastructure [46] - Cloud and Insight Core Services gross profit growth offset the decline in hardware revenue [46] Market Performance - The company made strategic acquisitions in the UK (Amdaris) and North America (SADA) to expand cloud and services capabilities [21][22] - SADA contributed 110 basis points to the total gross margin expansion in Q4 2023 [52] - The company expects cloud gross profit to grow in excess of 35% and Insight Core Services gross profit to grow in excess of 20% in 2024 [58] Company Strategy and Industry Competition - The company aims to become the leading solutions integrator, focusing on four key pillars: putting clients first, delivering differentiation, championing culture, and driving profitable growth [26] - Cybersecurity is a critical offering, with the company providing comprehensive solutions to clients, including a global consumer products company that experienced a cyberattack [27][28][29] - The company launched initial Gen AI offerings, which have been well-received by clients [17] - The company signed a multi-year strategic partner framework with Microsoft, focusing on Azure and Microsoft 365 offerings, including Gen AI [33] Management Commentary on Operating Environment and Future Outlook - The company expects device demand to improve in the first half of 2024, with a more meaningful contribution later in the year as upgrade cycles begin [34] - Infrastructure backlog has normalized, and demand is expected to remain soft for a few quarters as clients digest equipment acquired in 2023 [90] - The company anticipates cloud and Insight Core Services to continue driving growth in 2024, with cloud gross profit expected to grow over 35% and Insight Core Services gross profit expected to grow over 20% [58] - The company expects adjusted diluted earnings per share for 2024 to be between $10.50 and $10.80, representing a 10% growth at the midpoint [61] Other Important Information - The company repurchased over $200 million of shares in 2023 [20] - The company has approximately $1.1 billion available under a $1.8 billion ABL facility as of the end of Q4 2023 [44] - The company expects operating cash flow in 2024 to be in the range of $300 million to $400 million [49] Q&A Session Summary Question: How are customer IT budgets shaping up for 2024, and what are the key investment priorities? - The company expects the first half of 2024 to be lighter, with more strength in the second half [73] - Budget priorities remain focused on security, with some softening in infrastructure and increased interest in device refresh due to Windows 11 and AI-enabled PCs [74][75] - AI investments are expected to be more back-end loaded, with device refresh likely to strengthen in the second half of 2024 [77] Question: Why is operating expense growth expected to outpace gross profit growth in 2024? - The higher operating expense growth is primarily due to the SADA acquisition, which has higher SG&A growth relative to gross profit growth [80][84] - The company is focused on revenue synergies rather than cost synergies for SADA in 2024 [80] Question: What is the outlook for hardware recovery, particularly in infrastructure and devices? - Infrastructure demand is expected to remain soft for a few quarters as clients digest equipment acquired in 2023 [90] - Device demand is expected to improve sequentially, with mid-single-digit growth expected for hardware overall in 2024 [94] Question: How does the company view the impact of AI-enabled PCs on device spending? - AI-enabled PCs are generating interest, but the company does not believe they are a primary driver of device spending caution [118] - Device refresh is expected to be driven by aging notebooks, Windows 11, and hybrid work requirements [111] Question: What is the company's outlook for operating expense growth beyond 2024? - The company expects operating expenses to grow at a lower rate than gross profit growth in the future, consistent with its long-term KPIs [121] Question: How did the pricing and profitability initiatives perform in Q4 2023? - The pricing and profitability initiatives performed as expected, with the company pleased with the results and expecting continued improvement [126] Question: What are the growth prospects for North America versus EMEA in 2024? - North America is expected to be stronger, with growth across all segments, while EMEA is also expected to improve [127]

Financial Data and Key Metrics Changes - The company reported net revenue of $2.3 billion for Q3 2023, a decrease of 11% in U.S. dollar terms compared to the previous year [43] - Despite the decline in net sales, gross profit increased by 2%, reflecting higher contributions from cloud and Insight Core Services [44] - Adjusted diluted earnings per share for Q3 was $2.37, up 19% in U.S. dollar terms [27] - Adjusted EBITDA margin expanded by 130 basis points to 5.7% [15][45] - The company generated $414 million of operating cash flow in the first three quarters of 2023, an increase of over $600 million from the previous year [15][69] Business Line Data and Key Metrics Changes - Cloud gross profit grew by 17%, reaching $96 million, driven by higher growth in SaaS and infrastructure services [68] - Insight Core Services gross profit was $71 million, an increase of 20%, reflecting growth in applications, data, and digital enablement [26] - The hardware segment saw a decline of 17%, primarily due to decreased device sales [43] Market Data and Key Metrics Changes - The enterprise and corporate segments experienced declines in the mid-teens percentage range, while the public sector grew in the low single digits [99] - The company noted that the device market remains cyclical, with expectations for sequential improvements but not at the anticipated growth levels [56][101] Company Strategy and Development Direction - The company aims to become a leading solutions integrator, focusing on high-growth areas such as cloud, data, AI, edge, and cyber [16][20] - The acquisition of Amdaris is expected to enhance digital and cloud capabilities in EMEA, aligning with the company's strategic focus [21][47] - The company is leveraging generative AI to improve efficiencies and deliver better outcomes for clients [32][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term dynamics of the IT industry, emphasizing the importance of digital transformation and generative AI as accelerants [73] - The company is maintaining its adjusted diluted EPS guidance of $9.40 to $9.60 for the full year, reflecting confidence in operational improvements and cost management [48] - Management acknowledged the volatility in demand and spending patterns but remains optimistic about future growth in software, cloud, and Insight Core Services [71] Other Important Information - The company has filed Gen AI-related patents aimed at enhancing customer support applications [32] - The company has approximately $1.5 billion available under its $1.8 billion ABL facility, indicating strong liquidity [70] Q&A Session Summary Question: Can you walk us through the pressures impacting the gross profit outlook? - Management noted that the device segment is not recovering as anticipated, impacting gross profit dollars, but strength in cloud and services continues [54] Question: Can you provide insights on customer spending behavior across different verticals? - Management indicated that improvements are seen first in the commercial space, with public sector remaining strong, while enterprise segments are lagging [56][99] Question: What is the outlook for hardware sales and infrastructure products? - Management reported that infrastructure backlog has normalized, but demand is softening, with longer sales cycles expected [58] Question: How is the company leveraging offshore capabilities to improve margins? - Management confirmed that leveraging offshore capabilities has been successful in improving structural profitability across specific services [91] Question: What is the company's M&A outlook following the Amdaris acquisition? - Management remains focused on acquisitions that enhance capabilities in high-growth areas, with a positive outlook for future transactions [89]

FORM 10-Q (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 0-25092 INSIGHT ENTERPRISES, INC. (Exact name of registrant as specified in its charter) (State or other juris ...