ePlus inc.

ePlus inc. (NASDAQ:PLUS) is a technology solutions provider founded in 1990 and headquartered in Herndon, Virginia. Originally incorporated as MLC Holdings, Inc., the company changed its name to ePlus inc. in 1999 and went public in 1996. The company has evolved from a traditional IT reseller into a comprehensive technology solutions provider, serving commercial entities, government agencies, and educational institutions across the United States and internationally. ePlus operates through two primary business segments: Technology and Financing, providing end-to-end IT solutions and equipment financing services to help organizations optimize their technology infrastructure and supply chain processes.

Over the past few years, ePlus has undergone significant strategic transformation to adapt to changing technology markets and customer needs. The company has pivoted from a traditional hardware-focused reseller toward a comprehensive technology solutions provider with emphasis on higher-value services and emerging technologies. **Artificial Intelligence and Advanced Services:** ePlus launched its AI Ignite program to help customers navigate AI adoption, partnering with NVIDIA as a certified DGX managed service partner. The company established an AI Experience Center with Digital Realty and trained its entire sales organization on AI solutions. This represents a strategic bet on AI becoming a major driver of enterprise IT spending. **Services Expansion:** The company has aggressively expanded its services portfolio, with services revenue growing 52% in Q3 2025 to $114 million. Key developments include launching Storage-as-a-Service powered by Pure Storage, expanding managed services capabilities, and developing automated virtual assistant (AVA) solutions for collaboration. Services now represent a growing portion of total revenue and typically carry higher margins than product sales. **Strategic Acquisitions:** ePlus acquired Network Solutions Group from CCI Systems and more recently acquired Bailiwick to expand its IT integration capabilities. The Bailiwick acquisition is expected to contribute approximately $85 million in revenue and aligns with the company's strategy to expand core-to-edge service offerings. **Business Model Evolution:** The company is adapting to the industry shift toward subscription and consumption-based models. Subscription orders increased 51.4% and now represent 46% of open orders. While this creates near-term revenue recognition challenges, it positions ePlus for more predictable, recurring revenue streams and additional service opportunities around subscription management and optimization.