Core Insights - Insight Enterprises reported a fourth-quarter net revenue of $2.0 billion, down 1%, but achieved a gross profit increase of 9% and expanded gross margin to 23.4%, up 220 basis points year-over-year [2][4][6] - The company is pivoting towards cloud and higher-margin services, with record core services gross profit of $320 million for 2025, driven by acquisitions and the launch of the Prism AI platform [6][13] - For 2026, the company expects low-single-digit gross profit growth, a gross margin of approximately 21%, and adjusted diluted EPS in the range of $10.10 to $10.60, reflecting cautious optimism amid subdued enterprise spending [5][18] Financial Performance - EMEA gross profit increased by 30%, driven by activity in the UAE and Saudi Arabia, alongside growth in EMEA services [1] - Cloud gross profit reached $138 million, up 11%, primarily due to growth in SaaS and infrastructure as a service [1] - Adjusted EBITDA for the fourth quarter was $156 million, an increase of 11%, with adjusted diluted EPS also up 11% to $2.96 [6][7] Strategic Initiatives - The company emphasized expanding core services through acquisitions, advisory pull-through, and the launch of the AI platform, Prism, to enhance client engagement and outcomes [8][11] - Insight's acquisition of Inspire11 is aimed at enhancing advisory capabilities in North America, complementing its existing services [9] - The company is focusing on AI infrastructure and navigating supply chain dynamics, with expectations of memory price inflation impacting the market [20][21] Market Outlook - Management indicated that corporate clients remain cautious, with moderate investment expected in PCs and infrastructure in the near term [16] - The company anticipates low double-digit growth in cloud gross profit for 2026 as it moves past partner program changes [18] - Insight plans to begin share repurchases of $75 million starting in the first quarter of 2026, reflecting a commitment to capital allocation [19]