ePlus Reports $3.8B Q4 Billings, 53% EPS Growth and $411M Cash
PLUS•ePlus reported Q4 gross billings of $3.8 billion, achieved 53% YoY EPS growth in continuing operations, and 64% full-year EPS increase. The company divested its financing unit, added professional and managed services, ended Q4 with a $411 million cash balance and saw gross margin decline to 24.6% due to memory chip shortages.
1. Q4 Financial Highlights
ePlus achieved record Q4 gross billings of $3.8 billion, marking double-digit revenue growth and a 53% year-over-year increase in fully diluted EPS from continuing operations. Full-year EPS rose 64%, driven by robust demand across its IT solutions segments.
2. Strategic Portfolio Changes
The company broadened its core offerings by integrating professional and managed services to enhance consultative capabilities. It also divested its financing unit to focus capital and resources on high-growth IT markets.
3. Operational Challenges and Discontinued Operations
ePlus navigated headwinds from a global memory chip shortage and geopolitical tensions, leading to project timing delays with retail clients. Gross margin declined to 24.6% from 26.5%, the effective tax rate rose to 32.2%, and net loss from discontinued operations was $0.4 million versus $3.9 million income in the prior year.
4. Balance Sheet and Outlook
The firm ended the quarter with a $411 million cash balance, supporting organic investments, acquisitions, dividends, and share repurchases. Management signaled cautious guidance ahead, citing a tough year-ago comparison, extended component lead times, and ongoing memory supply constraints.




