$NSIT

INSIGHT ENTERPRISES INC

CIK:0000932696|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Net sales:
Total net sales	$ 2,399,497	$ 2,091,482	$ 4,527,483	$ 4,195,038
Costs of goods sold:
Total costs of goods sold	1,877,895	1,649,155	3,543,730	3,346,234
Gross profit	521,602	442,327	983,753	848,804
Operating expenses:
Selling and administrative expenses	384,575	352,314	768,558	691,487
Severance and restructuring expenses, net	5,795	3,405	12,280	10,431
Acquisition and integration related expenses	265	76	266	251
Earnings from operations	130,967	86,532	202,649	146,635
Non-operating expense (income):
Interest expense, net	24,409	22,352	48,042	37,977
Other (income) expense, net	248	13	(1,204)	25,482
Earnings before income taxes	106,310	64,167	155,811	83,176
Income tax expense	28,741	17,235	48,233	28,730
Net earnings	$ 77,569	$ 46,932	$ 107,578	$ 54,446
Net earnings per share:
Basic (in usd per share)	$ 2.58	$ 1.48	$ 3.54	$ 1.71
Diluted (in usd per share)	$ 2.57	$ 1.46	$ 3.53	$ 1.63
Shares used in per share calculations:
Basic (in shares)	30,032	31,780	30,410	31,809
Diluted (in shares)	30,174	32,121	30,515	33,402
Products
Net sales:
Total net sales	$ 1,885,609	$ 1,665,290	$ 3,552,155	$ 3,373,090
Costs of goods sold:
Total costs of goods sold	1,692,240	1,480,777	3,179,884	3,012,603
Gross profit	193,369	184,513	372,271	360,487
Services
Net sales:
Total net sales	513,888	426,192	975,328	821,948
Costs of goods sold:
Total costs of goods sold	185,655	168,378	363,846	333,631
Gross profit	$ 328,233	$ 257,814	$ 611,482	$ 488,317

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net earnings	$ 107,578	$ 54,446
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	57,333	51,711
Provision for losses on accounts receivable	9,386	2,269
Provision for losses on contract assets	(744)	3,926
Non-cash stock-based compensation	19,311	17,909
Net change on revaluation of earnout liabilities	25,570	15,364
Earnout payments in excess of acquisition date fair value	(1,071)	0
Deferred income taxes	1,733	(13,689)
Net loss on revaluation of warrant settlement liabilities	0	25,069
Impairment loss on long lived real estate asset	2,033	12,588
Amortization of debt issuance costs	1,708	2,344
Other adjustments	61	(843)
Changes in assets and liabilities:
Increase in accounts receivable	(2,393,734)	(1,128,707)
Increase in inventories	(90,534)	(23,243)
Decrease in contract assets	20,203	36,227
Decrease in long-term accounts receivable	62,276	103,073
Increase in other assets	(54,336)	(61,411)
Increase in accounts payable	2,329,960	950,439
Decrease in long-term accounts payable	(93,537)	(103,511)
Increase (decrease) in accrued expenses and other liabilities	16,944	(42,962)
Net cash provided by (used in) operating activities:	20,140	(99,001)
Cash flows from investing activities:
Proceeds from sale of assets	7,985	0
Purchases of property and equipment	(13,855)	(11,978)
Net cash used in investing activities:	(5,870)	(11,978)
Cash flows from financing activities:
Borrowings on ABL revolving credit facility	3,129,000	3,103,360
Repayments on ABL revolving credit facility	(3,008,787)	(2,322,961)
Warrants settlement	0	(221,968)
Repayment of principal on the Convertible Notes	0	(333,091)
Net borrowings under inventory financing facilities	42,559	2,077
Payment of debt issuance costs	(366)	0
Repurchases of common stock	(150,000)	(76,118)
Earnout and acquisition related payments	(5,456)	0
Other payments	(3,115)	(12,181)
Net cash provided by financing activities:	3,835	139,118
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances	(12,321)	21,959
Increase in cash, cash equivalents and restricted cash	5,784	50,098
Cash, cash equivalents and restricted cash at beginning of period	360,776	261,467
Cash, cash equivalents and restricted cash at end of period	$ 366,560	$ 311,565

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 363,482	$ 358,020
Accounts receivable, net of allowance for doubtful accounts of $22,391 and $48,064, respectively	7,815,930	5,516,984
Inventories	247,889	160,648
Contract assets, net	58,589	65,745
Other current assets	309,554	260,990
Total current assets	8,795,444	6,362,387
Long-term contract assets, net	40,901	53,176
Property and equipment, net of accumulated depreciation and amortization of $195,811 and $184,730, respectively	186,314	188,449
Goodwill	1,166,420	1,169,734
Intangible assets, net of accumulated amortization of $361,507 and $320,553, respectively	383,589	426,237
Long-term accounts receivable, net	699,011	763,923
Other assets	122,071	123,466
Total assets	11,393,750	9,087,372
Current liabilities:
Accounts payable—trade	6,519,548	4,263,796
Accounts payable—inventory financing facilities	266,636	225,035
Accrued expenses and other current liabilities	647,774	615,464
Current portion of long-term debt	0	8
Total current liabilities	7,433,958	5,104,303
Long-term debt	1,475,089	1,361,327
Deferred income taxes	70,477	70,715
Long-term accounts payable	619,579	715,494
Other liabilities	189,622	186,659
Total liabilities	9,788,725	7,438,498
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value, 3,000 shares authorized; no shares issued	0	0
Common stock, $0.01 par value, 100,000 shares authorized; 29,515 shares at June 30, 2026 and $30,996 shares at December 31, 2025 issued and outstanding	295	310
Additional paid-in capital	171,931	164,560
Retained earnings	1,486,649	1,520,404
Accumulated other comprehensive loss – foreign currency translation adjustments	(53,850)	(36,400)
Total stockholders’ equity	1,605,025	1,648,874
Total liabilities and stockholders' equity	$ 11,393,750	$ 9,087,372