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SEGMENT REPORTING | 12 Months Ended
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Mar. 31, 2026
SEGMENT REPORTING [Abstract] |
SEGMENT REPORTING | 18. 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):
|  | Year ended March 31, |
|  | 2026 |  |  | 2025 |  |  | 2024 |
Net sales |  |  |  |  |  |  |  |  |  |  |  |
Product |  | $ | 1,979,288 |  |  | $ | 1,599,369 |  |  | $ | 1,885,543 |
Professional services |  |  | 273,438 |  |  |  | 229,030 |  |  |  | 154,549 |
Managed services |  |  | 189,447 |  |  |  | 171,347 |  |  |  | 137,528 |
Total reportable segments |  |  | 2,442,173 |  |  |  | 1,999,746 |  |  |  | 2,177,620 |
Other |  |  | 376 |  |  |  | 422 |  |  |  | 629 |
Total |  |  | 2,442,549 |  |  |  | 2,000,168 |  |  |  | 2,178,249 |
Cost of sales |  |  |  |  |  |  |  |  |  |  |  |
Product |  |  | 1,525,724 |  |  |  | 1,229,216 |  |  |  | 1,484,878 |
Professional services |  |  | 167,528 |  |  |  | 138,513 |  |  |  | 86,355 |
Managed services |  |  | 132,980 |  |  |  | 120,040 |  |  |  | 94,861 |
Total reportable segments |  |  | 1,826,232 |  |  |  | 1,487,769 |  |  |  | 1,666,094 |
Other |  |  | 236 |  |  |  | 279 |  |  |  | 413 |
Total |  |  | 1,826,468 |  |  |  | 1,488,048 |  |  |  | 1,666,507 |
Gross profit |  |  |  |  |  |  |  |  |  |  |  |
Product |  |  | 453,564 |  |  |  | 370,153 |  |  |  | 400,665 |
Professional services |  |  | 105,910 |  |  |  | 90,517 |  |  |  | 68,194 |
Managed services |  |  | 56,467 |  |  |  | 51,307 |  |  |  | 42,667 |
Total reportable segments |  |  | 615,941 |  |  |  | 511,977 |  |  |  | 511,526 |
Other |  |  | 140 |  |  |  | 143 |  |  |  | 216 |
Total |  | $ | 616,081 |  |  | $ | 512,120 |  |  | $ | 511,742 |
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):
|  | Year ended March 31, 2026 |
|  | Product |  |  | Professional Services |  |  | Managed Services |  |  | Total |
Timing and position as principal or agent: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transferred at a point in time as principal |  | $ | 1,764,824 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,764,824 |
Transferred at a point in time as agent |  |  | 214,464 |  |  |  | - |  |  |  | - |  |  |  | 214,464 |
Transferred over time as principal |  |  | - |  |  |  | 273,438 |  |  |  | 189,447 |  |  |  | 462,885 |
Total revenue from contracts with customers |  | $ | 1,979,288 |  |  | $ | 273,438 |  |  | $ | 189,447 |  |  | $ | 2,442,173 |
|  | Year ended March 31, 2025 |
|  | Product |  |  | Professional Services |  |  | Managed Services |  |  | Total |
Timing and position as principal or agent: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transferred at a point in time as principal |  | $ | 1,415,083 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,415,083 |
Transferred at a point in time as agent |  |  | 184,286 |  |  |  | - |  |  |  | - |  |  |  | 184,286 |
Transferred over time as principal |  |  | - |  |  |  | 229,030 |  |  |  | 171,347 |  |  |  | 400,377 |
Total revenue from contracts with customers |  | $ | 1,599,369 |  |  | $ | 229,030 |  |  | $ | 171,347 |  |  | $ | 1,999,746 |
|  | Year ended March 31, 2024 |
|  | Product |  |  | Professional Services |  |  | Managed Services |  |  | Total |
Timing and position as principal or agent: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transferred at a point in time as principal |  | $ | 1,709,217 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,709,217 |
Transferred at a point in time as agent |  |  | 176,326 |  |  |  | - |  |  |  | - |  |  |  | 176,326 |
Transferred over time as principal |  |  | - |  |  |  | 154,549 |  |  |  | 137,528 |  |  |  | 292,077 |
Total revenue from contracts with customers |  | $ | 1,885,543 |  |  | $ | 154,549 |  |  | $ | 137,528 |  |  | $ | 2,177,620 |
The following table provides a disaggregation of our revenue from contracts with customers by customer end market and by type (in thousands):
|  | Year ended March 31, |
|  | 2026 |  |  | 2025 |  |  | 2024 |
Customer end market: |  |  |  |  |  |  |  |  |  |  |  |
Telecom, media & entertainment |  | $ | 720,616 |  |  | $ | 453,892 |  |  | $ | 547,525 |
Healthcare |  |  | 314,949 |  |  |  | 286,474 |  |  |  | 278,893 |
SLED |  |  | 308,681 |  |  |  | 333,371 |  |  |  | 329,617 |
Technology |  |  | 300,783 |  |  |  | 300,465 |  |  |  | 379,720 |
Financial services |  |  | 244,675 |  |  |  | 174,798 |  |  |  | 243,630 |
Retail |  |  | 136,415 |  |  |  | 103,185 |  |  |  | 36,113 |
All others |  |  | 416,054 |  |  |  | 347,561 |  |  |  | 362,122 |
Total revenue from contracts with customers |  | $ | 2,442,173 |  |  | $ | 1,999,746 |  |  | $ | 2,177,620 |
Type: |  |  |  |  |  |  |  |  |  |  |  |
Product segment |  |  |  |  |  |  |  |  |  |  |  |
Networking |  | $ | 933,818 |  |  | $ | 781,703 |  |  | $ | 1,005,679 |
Cloud |  |  | 668,471 |  |  |  | 509,774 |  |  |  | 546,341 |
Security |  |  | 239,731 |  |  |  | 191,872 |  |  |  | 193,956 |
Collaboration |  |  | 51,917 |  |  |  | 55,483 |  |  |  | 65,714 |
Other |  |  | 85,351 |  |  |  | 60,537 |  |  |  | 73,853 |
Total product segment |  |  | 1,979,288 |  |  |  | 1,599,369 |  |  |  | 1,885,543 |
Professional services segment |  |  | 273,438 |  |  |  | 229,030 |  |  |  | 154,549 |
Managed services segment |  |  | 189,447 |  |  |  | 171,347 |  |  |  | 137,528 |
Total revenue from contracts with customers |  | $ | 2,442,173 |  |  | $ | 1,999,746 |  |  | $ | 2,177,620 |
Geographic Information The geographic information for the years ended March 31, 2026, 2025, and 2024 was as follows (in thousands):
|  | Year ended March 31, |
|  | 2026 |  |  | 2025 |  |  | 2024 |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
US |  | $ | 2,349,884 |  |  | $ | 1,914,838 |  |  | $ | 2,080,693 |
International |  |  | 92,665 |  |  |  | 85,330 |  |  |  | 97,556 |
Total |  | $ | 2,442,549 |  |  | $ | 2,000,168 |  |  | $ | 2,178,249 |
Our long-lived assets include right-of-use assets, property and equipment-net, and, within the international entities of our financing business that we retained after selling our domestic financing business, operating leases-net, and equipment that has been returned to us at the termination of the lease. The geographic disaggregation of these balances was as follows (in thousands):
|  | March 31, 2026 |  |  | March 31, 2025 |
Long-lived assets: |  |  |  |  |  |  |  |
Right-of-use assets |  | $ | 15,034 |  |  | $ | 17,857 |
Property and equipment-net |  |  | 12,774 |  |  |  | 15,522 |
Total US |  |  | 27,808 |  |  |  | 33,379 |
International |  |  | 113 |  |  |  | 267 |
Total |  | $ | 27,921 |  |  | $ | 33,646 |
Sales to Verizon Communications Inc. represented 24%, 17% and 19% of net sales for the years ended March 31, 2026, March 31, 2025, and March 31, 2024, respectively.

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- Definition The entire disclosure for reporting segments including data and tables. 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