Insight Enterprises, Inc. · NASDAQ:NSIT

Insight Enterprises — Q4 2025 Earnings Presentation

40 slides from Insight Enterprises's earnings presentation, Feb 5, 2026

  1. Slide 1: Fourth Quarter and Full Year 2025 Earnings Conference Call and Webcast

    Insight Enterprises, Inc. Fourth Quarter and Full Year 2025 Earnings Conference Call and Webcast Insight Proprietary & Confidential. Do Not Copy or Distribute. © 2026 Insight. All Rights Reserved. 1

  2. Slide 2: Disclosures

    Disclosures Safe harbor statement This presentation includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 related to Insight’s plans and expectations. Statements that are not historical facts, including those related to our expectations abou

  3. Slide 3: Table of Contents

    Table of Contents • AI-First Solutions Integrator Strategy • Solutions at Work • Employer Awards • Partner Recognitions • Fourth Quarter and Full Year 2025 Highlights and Performance • 2026 Outlook • Appendix Insight Proprietary & Confidential. Do Not Copy or Distribute. © 2026 Insight. All Rights R

  4. Slide 4: Our strategy is to become the leading AI-First Solutions Integrator

    Our strategy is to become the leading AI-FIRST SOLUTIONS INTEGRATOR Our experts solve our clients’ technology challenges by combining the right hardware, software, and services Secure, Integrated Solutions End-to-end Capabilities Technology Expertise Deep Partner Network We help our clients implemen

  5. Slide 5: European Green Cloud Provider: Scaling AI-Optimized Data Centers

    CLIENT STORY European Green Cloud Provider: Scaling AI-Optimized Data Centers Challenge Solution Outcomes • A European green IT provider is • Insight’s NWT team: • Accelerated build-out of sustainable, AI-ready building sustainable data centers • Provided end-to-end program leadership data centers t

  6. Slide 6: Sedgwick: Modernizing and Streamlining Platform

    CLIENT STORY Sedgwick: Modernizing and Streamlining Platform Challenge Solution Outcomes • Needed to modernize and unify • Designed & implemented modern, unified claims • Significant improvement in claims handling their claims management management platform with streamlined operations efficiency and

  7. Slide 7: Employer Awards

    Employer Awards FORBES 2025 World's Best Employers No. 34 in IT – 2025 America’s Best Employers for Women – 2025 America's Best Employers for Company Culture – 2025 America's Best Employers for Tech Workers – 2025 America's Best Employers by State Phoenix Business Journal International Great Place t

  8. Slide 8: Top partner and industry recognitions

    Top partner and industry recognitions ISACA | Appraises Insight Public Sector at – 2025 Partner of the Year for Google – 2025 Forrester AI Technical Services Level 3 of its Capability Maturity Model Workspace Landscape, Q2 2025 Integration in 2025 – 2025 US Data Center Growth Partner of the Year Eri

  9. Slide 9: Q4/Full Year 2025 Performance

    Q4/Full Year 2025 Performance (Changes against prior year period) CLOUD GROSS PROFIT INSIGHT CORE SERVICES GROSS PROFIT Q4 2025 FY 2025 Q4 2025 FY 2025 $138M $495M $90M $320M +11% YoY +2% YoY +16% YoY +2% YoY Insight Proprietary & Confidential. Do Not Copy or Distribute. © 2026 Insight. All Rights R

  10. Slide 10: Q4/Full Year 2025 Performance (continued)

    Q4/Full Year 2025 Performance (continued) (Changes against prior year period) NET SALES GROSS PROFIT Q4 2025 FY 2025 Q4 2025 FY 2025 $2.0B $8.2B $478M $1.8B -1% YoY -5% YoY +9% YoY Flat YoY 59% services as a % of total gross profit and 28% cloud as a % of total gross profit** EARNINGS FROM OPERATION

  11. Slide 11: Q4/Full Year 2025 Performance (continued)

    Q4/Full Year 2025 Performance (continued) (Changes against prior year period) EARNINGS NET EARNINGS DILUTED EARNINGS PER SHARE Q4 2025 FY 2025 Q4 2025 FY 2025 $52M $157M $1.67 $4.86 +40% YoY -37% YoY +69% YoY -26% YoY ADJUSTED EBITDA* ADJUSTED DILUTED EARNINGS PER SHARE* Q4 2025 FY 2025 Q4 2025 FY 2

  12. Slide 12: Full Year 2026 Outlook

    Full Year 2026 Outlook Assumptions: As of February 5, 2026 Gross profit growth in the low single digits Gross margin approximately 21% Adjusted diluted EPS*, including stock-based compensation $10.10 - $10.60 Adjusted diluted EPS*, excluding stock-based compensation $11.0 - $11.50 Interest and other

  13. Slide 13: Appendix

    Appendix Insight Proprietary & Confidential. Do Not Copy or Distribute. © 2026 Insight. All Rights Reserved. 13

  14. Slide 14: Net Sales and Gross Profit

    NET SALES Trailing twelve months $2.0B -1% YoY $8.2B* -5% YoY $2.1B $2.1B $2.1B $2.0B $2.0B $10.4B $9.4B $9.2B $8.7B $8.2B Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 2021 2022 2023 2024 2025 GROSS PROFIT Trailing twelve months $478M +9% YoY $1.8B* Flat YoY 20.3% 21.4% 23.4% 15.3% 15.7% 18.2% 21.2% 19.3% 21.1% 21

  15. Slide 15: Services Net Sales and Gross Profit

    SERVICES NET SALES Trailing twelve months $468M +11% YoY $1.7B* +2% YoY $468M $1,686M $1,716M $421M $426M $426M $1,483M $1,544M $396M $1,316M Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 2021 2022 2023 2024 2025 SERVICES GROSS PROFIT Trailing twelve months $297M +17% YoY $1.0B* +4% YoY 58% 60% 61% 54% 54% 63% 60%

  16. Slide 16: Insight Core Services Gross Profit and Cloud Gross Profit

    INSIGHT CORE SERVICES GROSS PROFIT Trailing twelve months $90M +16% YoY $320M* +2% YoY 35% 32% 32% 30% 32% 31% 32% 32% 27% 27% Gross Margin $90M $315M $320M $78M $78M $79M $273M $73M $253M $221M Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 2021 2022 2023 2024 2025 CLOUD GROSS PROFIT Trailing twelve months $138M +1

  17. Slide 17: Earnings from Operations

    EARNINGS FROM OPERATIONS Trailing twelve months $95M +47% YoY $335M* -14% YoY $93M $95M $414M $420M $87M $389M $332M $335M $65M $60M Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 2021 2022 2023 2024 2025 ADJUSTED EARNINGS FROM OPERATIONS** Trailing twelve months $146M +13% YoY $504M* Flat YoY $492M $502M $504M $467

  18. Slide 18: Diluted Earnings Per Share

    DILUTED EARNINGS PER SHARE Trailing twelve months $1.67 +69% YoY $4.86* -26% YoY $7.66 $7.55 $1.62 $1.67 $1.46 $6.55 $5.95 $4.86 $0.99 $0.22 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 2021 2022 2023 2024 2025 ADJUSTED DILUTED EARNINGS PER SHARE** Trailing twelve months $2.96 +11% YoY $9.87* +2% YoY $9.69 $9.68 $

  19. Slide 19: FY 2025 | Financial Performance

    FY 2025 | Financial Performance Twelve Months Ended December 31, US Dollars in $000s, except for per share data 2025 2024 Change Consolidated IEI Net sales $8,247,180 $8,701,698 (5)% Net sales, constant currency* (6)% Product net sales $6,531,008 $7,015,640 (7)% Services net sales $1,716,172 $1,686,

  20. Slide 20: Consolidated IEI Financial Metrics

    Consolidated IEI Financial Metrics Three Months Ended Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Twelve Months Ended 2021 2022 2023 2024 2025 Net Sales YoY (7)% (12)% (3)% (4)% (1)% Net Sales YoY 13% 11% (12)% (5)% (5)% Gross Margin 21.2% 19.3% 21.1% 21.7% 23.4% Gross Margin 15.3% 15.7% 18.2% 20.3% 21.4% GAAP EF

  21. Slide 21: Services Financial Metrics

    Services Financial Metrics Three Months Ended Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Twelve Months Ended 2021 2022 2023 2024 2025 Services Revenue $421M $396M $426M $426M $468M Services Revenue $1,316M $1,483M $1,544M $1,686M $1,716M Services Revenue YoY 3% (5%) (2%) 3% 11% Services Revenue YoY 13% 13% 4% 9%

  22. Slide 22: GEO Financial Metrics

    GEO Financial Metrics Three Months Ended Twelve Months Ended December 31, 2025 December 31, 2025 North America EMEA APAC North America EMEA APAC Net Sales $1.6B $343.9M $60.1M $6.7B $1.4B $237.5M Net Sales YoY** (3%) 1% 15% (6%) (8%) 4% Gross Profit $362.9M $94.7M $20.8M $1.4B $323.3M $71.8M Gross P

  23. Slide 23: 2027 KPIs for Success

    2027 KPIs for Success KPIs TTM Q4 2025** TTM Q4 2025**** 2027 Cloud GP Growth 2% 16% 16% - 20% 5-year CAGR*** Core services GP Growth 2% 8% 16% - 20% 5-year CAGR*** Adjusted EBITDA Margin* 6.6% 6.5% - 7.0% Adjusted DEPS* Growth 2% 3% 19% - 22% 5-year CAGR*** Adjusted ROIC* 15.2% >25% Adjusted free c

  24. Slide 24: Adjusted EBITDA and Debt Covenants

    Adjusted EBITDA and Debt Covenants Twelve Months Ended December 31, US Dollars in $000s 2025 2024 Adjusted Consolidated EBITDA: Fixed Charge Coverage Net earnings $ 157,347 $ 249,691 $551,848 Interest expense 93,125 68,272 $550,000 $500,000 Taxes 68,472 83,222 $450,000 Depreciation and amortization

  25. Slide 25: Reconciliation of GAAP to Non-GAAP Financial Measures

    Reconciliation of GAAP to Non-GAAP Financial Measures* Three Months Ended Twelve Months Ended December 31, December 31, US Dollars in $000s 2025 2024 2023 2025 2024 Adjusted Consolidated Earnings from Operations: GAAP consolidated EFO $ 95,221 $ 64,674 $ 131,861 $ 334,923 $ 388,584 Amortization of i

  26. Slide 26: Reconciliation of GAAP to Non-GAAP Financial Measures (continued)

    Reconciliation of GAAP to Non-GAAP Financial Measures* (continued) Three Months Ended Twelve Months Ended December 31, December 31, US Dollars in $000s, except per share data 2025 2024 2023 2025 2024 Adjusted Consolidated Net Earnings: GAAP consolidated net earnings $ 51,954 $ 37,012 $ 90,608 $ 157,

  27. Slide 27: Reconciliation of GAAP to Non-GAAP Financial Measures (continued)

    Reconciliation of GAAP to Non-GAAP Financial Measures* (continued) Three Months Ended Twelve Months Ended December 31, December 31, US Dollars in $000s, except per share data 2025 2024 2023 2025 2024 Adjusted Diluted Earnings Per Share: GAAP diluted EPS $ 1.67 $ 0.99 $ 2.42 $ 4.86 $ 6.55 Amortizatio

  28. Slide 28: Adjusted Diluted Earnings per Share, Excluding Stock-Based Compensation

    Adjusted Diluted Earnings per Share, Excluding Stock-Based Compensation* Twelve Months Ended December 31, US Dollars in $000s 2025 2024 Adjusted Diluted Earnings Per Share: Adjusted net income $ 315,104 $ 338,181 Stock-based compensation expense 33,738 33,971 Income taxes on stock-based compensation

  29. Slide 29: Adjusted Diluted EPS, Excluding Stock-Based Compensation (continued)

    Adjusted Diluted Earnings per Share, Excluding Stock-Based Compensation* (continued) Three Months Ended Three Months Ended Three Months Ended Three Months Ended March 31, June 30, September 30, December 31, US Dollars in $000s 2025 2024 2025 2024 2025 2024 2025 2024 Adjusted Diluted Earnings Per Sha

  30. Slide 30: Reconciliation of GAAP to Non-GAAP Financial Measures (continued)

    Reconciliation of GAAP to Non-GAAP Financial Measures* (continued) Three Months Ended Twelve Months Ended December 31, December 31, US Dollars in $000s 2025 2024 2025 2024 Adjusted North America Earnings from Operations: GAAP EFO from North America segment $ 79,129 $ 52,396 $ 282,272 $ 319,068 Amort

  31. Slide 31: Reconciliation of GAAP to Non-GAAP Financial Measures (continued)

    Reconciliation of GAAP to Non-GAAP Financial Measures* (continued) Three Months Ended Twelve Months Ended December 31, December 31, US Dollars in $000s 2025 2024 2025 2024 Adjusted APAC Earnings from Operations: GAAP EFO from APAC segment $ 5,776 $ 4,922 $ 21,681 $ 23,298 Amortization of intangible

  32. Slide 32: Reconciliation of GAAP to Non-GAAP Financial Measures (continued)

    Reconciliation of GAAP to Non-GAAP Financial Measures* (continued) Three Months Ended Twelve Months Ended December 31, December 31, US Dollars in $000s 2025 2024 2025 2024 Adjusted Consolidated EBITDA: GAAP consolidated net earnings $ 51,954 $ 37,012 $ 157,347 $ 249,691 Interest expense 25,706 16,96

  33. Slide 33: Reconciliation of GAAP to Non-GAAP Financial Measures (continued)

    Reconciliation of GAAP to Non-GAAP Financial Measures (continued) Twelve Months Ended December 31, US Dollars in $000s 2025 2024 Adjusted Return on Invested Capital: GAAP consolidated EFO $ 334,923 $ 388,584 Amortization of intangible assets 76,768 69,581 Change in fair value of earnout liabilities

  34. Slide 34: Reconciliation of GAAP to Non-GAAP Financial Measures (continued)

    Reconciliation of GAAP to Non-GAAP Financial Measures* (continued) Three Months Ended Twelve Months Ended December 31, December 31, US Dollars in $000s 2025 2024 2025 2024 Adjusted Consolidated Selling and Administrative Expenses: GAAP selling and administrative expenses $ 361,412 $ 358,487 $ 1,385,

  35. Slide 35: Reconciliation of GAAP to Non-GAAP Financial Measures (continued)

    Reconciliation of GAAP to Non-GAAP Financial Measures* (continued) Twelve Months Ended December 31, US Dollars in $000s 2025 Adjusted Free Cash Flow: Net cash provided by operating activities $ 303,827 Less: Purchases of property and equipment 24,520 Adjusted non-GAAP free cash flow $ 279,307 Net ca

  36. Slide 36: Reconciliation of GAAP to Non-GAAP Financial Measures (continued)

    Reconciliation of GAAP to Non-GAAP Financial Measures* (continued) Three Months Ended Three Months Ended Three Months Ended March 31, June 30, September 30, US Dollars in $000s 2025 2024 2025 2024 2025 2024 Adjusted Consolidated Earnings from Operations: GAAP consolidated EFO $ 60,103 $ 99,986 $ 86,

  37. Slide 37: Reconciliation of GAAP to Non-GAAP Financial Measures (continued)

    Reconciliation of GAAP to Non-GAAP Financial Measures* (continued) Three Months Ended Three Months Ended Three Months Ended March 31, June 30, September 30, US Dollars in $000s, except per share data 2025 2024 2025 2024 2025 2024 Adjusted Consolidated Net Earnings: GAAP consolidated net earnings $ 7

  38. Slide 38: Reconciliation of GAAP to Non-GAAP Financial Measures (continued)

    Reconciliation of GAAP to Non-GAAP Financial Measures* (continued) Three Months Ended Three Months Ended Three Months Ended March 31, June 30, September 30, US Dollars in $000s, except per share data 2025 2024 2025 2024 2025 2024 Adjusted Diluted Earnings Per Share: GAAP diluted EPS $ 0.22 $ 1.74 $

  39. Slide 39: Reconciliation of GAAP to Non-GAAP Financial Measures (continued)

    Reconciliation of GAAP to Non-GAAP Financial Measures* (continued) US Dollars in $000s, except per share data 2020 2021 2022 2023 Adjusted Consolidated Earnings from Operations: GAAP consolidated EFO $ 271,575 $ 332,061 $ 413,700 $ 419,795 Amortization of intangible assets 37,535 32,045 32,892 36,23

  40. Slide 40: Financial Results by Offering Category

    Financial Results by Offering Category US Dollars in $000s FY 2023 Q1-24 Q2-24 Q3-24 Q4-24 FY 2024 Q1-25 Q2-25 Q3-25 Q4-25 FY 2025 Consolidated IEI by Offering Category: Hardware $ 5,088,937 $ 1,134,727 $ 1,172,641 $ 1,137,518 $ 1,130,014 $ 4,574,900 $ 1,141,516 $ 1,191,031 $ 1,144,225 $ 1,153,345 $

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