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SEGMENT REPORTING | 3 Months Ended
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Jun. 30, 2025
SEGMENT REPORTING [Abstract] |
SEGMENT REPORTING | 15. SEGMENT REPORTING We manage and report our operating results through three operating segments: product, professional services, and managed services. Our organizational structure is based on how our chief operating decision maker (“CODM”) allocates resources, manages operations, and evaluates performance. Our CODM is our Chief Executive Officer. Our product segment includes sales of IT products, third-party software, and third-party maintenance, software assurance, and other third-party services. Our professional services segment includes our advanced professional services, staff augmentation, project management services, cloud consulting services and security services. Our managed services segment includes our advanced managed services, service desk, storage-as-a-service, cloud hosted services, cloud managed services and managed security services. Our other category consists of the international entities of our financing business that we retained after selling our domestic financing business. Our CODM measures the performance of the segments based on gross profit. We do not present asset information for our reportable segments as we do not provide asset information to our CODM. Our CODM reviews financial results and forecasts quarterly to manage operations and evaluate performance. Our CODM also uses our financial results and forecasts to make investment decisions as part of our annual budgeting process. The following table provides reportable segment information (in thousands):
| Three Months Ended June 30,
| 2025 |  | 2024
Net Sales: |  |  |  |  |  |  |
Product | $ | 520,895 |  |  | $ | 457,312 |
Professional services |  | 71,729 |  |  |  | 37,279 |
Managed services |  | 44,580 |  |  |  | 40,910 |
Total reportable segments |  | 637,204 |  |  |  | 535,501 |
Other |  | 111 |  |  |  | 151 |
Total |  | 637,315 |  |  |  | 535,652 |
Cost of sales: |  |  |  |  |  |  |
Product |  | 414,413 |  |  |  | 358,807 |
Professional services |  | 43,576 |  |  |  | 21,824 |
Managed services |  | 31,046 |  |  |  | 28,076 |
Total reportable segments |  | 489,035 |  |  |  | 408,707 |
Other |  | 64 |  |  |  | 71 |
Total |  | 489,099 |  |  |  | 408,778 |
Gross Profit: |  |  |  |  |  |  |
Product |  | 106,482 |  |  |  | 98,505 |
Professional services |  | 28,153 |  |  |  | 15,455 |
Managed services |  | 13,534 |  |  |  | 12,834 |
Total reportable segments |  | 148,169 |  |  |  | 126,794 |
Other |  | 47 |  |  |  | 80 |
Total | $ | 148,216 |  |  | $ | 126,874 |
DISAGGREGATION OF REVENUE We recognize revenue in our product, professional services, and managed services segments from contracts with customers. We recognize revenue in the other category under guidance for financing and leases. The following tables provide a disaggregation of revenue recognized from contracts with customers by timing and our position as principal or agent (in thousands):
| Three months ended June 30, 2025
| Product |  | Professional Services |  | Managed Services |  | Total
Timing and position as principal or agent: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transferred at a point in time as principal | $ | 474,505 |  |  | $ | - |  |  | $ | - |  |  | $ | 474,505 |
Transferred at a point in time as agent |  | 46,390 |  |  |  | - |  |  |  | - |  |  |  | 46,390 |
Transferred over time as principal |  | - |  |  |  | 71,729 |  |  |  | 44,580 |  |  |  | 116,309 |
Total revenue from contracts with customers | $ | 520,895 |  |  | $ | 71,729 |  |  | $ | 44,580 |  |  | $ | 637,204 |
| Three months ended June 30, 2024
| Product |  | Professional Services |  | Managed Services |  | Total
Timing and position as principal or agent: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transferred at a point in time as principal | $ | 421,884 |  |  | $ | - |  |  | $ | - |  |  | $ | 421,884 |
Transferred at a point in time as agent |  | 35,428 |  |  |  | - |  |  |  | - |  |  |  | 35,428 |
Transferred over time as principal |  | - |  |  |  | 37,279 |  |  |  | 40,910 |  |  |  | 78,189 |
Total revenue from contracts with customers | $ | 457,312 |  |  | $ | 37,279 |  |  | $ | 40,910 |  |  | $ | 535,501 |
The following tables provide a disaggregation of our revenue from contracts with customers by customer end market and by type (in thousands):
| Three Months Ended June 30,
| 2025 |  | 2024
Customer end market: |  |  |  |  |  |  |
Telecom, media & entertainment | $ | 184,979 |  |  | $ | 117,553 |
SLED |  | 90,562 |  |  |  | 92,096 |
Technology |  | 82,747 |  |  |  | 109,106 |
Healthcare |  | 74,291 |  |  |  | 75,280 |
Financial services |  | 47,500 |  |  |  | 49,725 |
All others |  | 157,125 |  |  |  | 91,741 |
Total revenue from contracts with customers | $ | 637,204 |  |  | $ | 535,501 |
Type: |  |  |  |  |  |  |
Product segment: |  |  |  |  |  |  |
Networking | $ | 218,202 |  |  | $ | 234,740 |
Cloud |  | 206,996 |  |  |  | 137,231 |
Security |  | 61,107 |  |  |  | 48,005 |
Collaboration |  | 11,757 |  |  |  | 20,899 |
Other |  | 22,833 |  |  |  | 16,437 |
Total product segment |  | 520,895 |  |  |  | 457,312 |
Professional services segment |  | 71,729 |  |  |  | 37,279 |
Managed services segment |  | 44,580 |  |  |  | 40,910 |
Total revenue from contracts with customers | $ | 637,204 |  |  | $ | 535,501 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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