ePlus inc. announced its financial results for the fourth quarter and full fiscal year ended March 31, 2025. For the fourth quarter, consolidated net sales decreased 10.2% to $498.1 million, but consolidated gross profit increased 11.8% to $145.8 million, with gross margin expanding to 29.3% from 23.5% year-over-year. Net earnings increased 14.6% to $25.2 million, and diluted earnings per share rose 15.9% to $0.95.
For the full fiscal year 2025, consolidated net sales decreased 7.0% to $2,068.8 million, while consolidated gross profit increased 3.3% to $569.1 million. Gross margin expanded to 27.5% from 24.8% in fiscal year 2024, driven by a services-led approach and a shift towards higher-margin, netted-down offerings. Service revenues increased 37.1% for the full year to $400.4 million.
ePlus ended fiscal year 2025 with a record cash and cash equivalents balance of $389.4 million, up from $253.0 million a year earlier, reflecting strong operating cash flow generation of $302.1 million. The company initiated fiscal year 2026 guidance, projecting low single-digit net sales growth and mid-single-digit growth for both gross profit and Adjusted EBITDA, reflecting continued profitability expansion despite economic uncertainty.
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