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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 8-K
 
CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 21, 2025

 ScanSource, Inc.
(Exact name of registrant as specified in its charter)
SC 00-26926   57-0965380
(State or other jurisdiction
of incorporation)		 (Commission File Number)   (IRS Employer
Identification No.)

6 Logue Court, Greenville, SC 29615
(Address of principal executive offices, including zip code)
864-288-2432
(Registrant’s telephone number, including area code)
Title of Each Class Trading Symbol Name of Each Exchange on Which Registered
Common Stock, no par value SCSC NASDAQ Global Select Market
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐   


Item 2.02. Results of Operations and Financial Condition

On August 21, 2025, ScanSource, Inc. (the "Company") issued a press release announcing its financial results for its fourth quarter and fiscal year ended June 30, 2025. A copy of the press release and accompanying Earnings Infographic are attached as Exhibits 99.1 and 99.2 hereto, incorporated herein by reference and also made available through the Company’s website at www.scansource.com. An updated investor presentation will be made available on the Company's website within approximately two weeks.

The information in Item 2.02 of this Report, including the Exhibits 99.1 and 99.2 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any other filing under the Securities Act of 1933, as amended, or the Exchange Act.


Item 9.01. Financial Statements and Exhibits

(d) Exhibits

99.1 – Press release issued by ScanSource, Inc. on August 21, 2025. The information contained in the attached exhibit is unaudited and should be read in conjunction with the Company’s annual and quarterly reports filed with the Securities and Exchange Commission.

99.2 – Earnings Infographic for the financial results conference call held on August 21, 2025.  The information contained in the attached exhibit is unaudited and should be read in conjunction with the Company’s annual and quarterly reports filed with the Securities and Exchange Commission.

Exhibit
Number		 Description
99.1
99.2
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
        ScanSource, Inc.
       
Date: August 21, 2025         /s/ STEVE JONES
          Steve Jones
          Senior Executive Vice President and Chief Financial Officer

EX-99.1 2 scscexhibit9916302025.htm EX-99.1 Document

Exhibit 99.1

FOR IMMEDIATE RELEASE
Contact:    
Steve Jones   Mary M. Gentry
Senior EVP, Chief Financial Officer SVP, Finance and Treasurer
ScanSource, Inc.   ScanSource, Inc.
(864) 286-4302   (864) 286-4892

SCANSOURCE REPORTS FOURTH QUARTER AND FULL-YEAR RESULTS
Achieves Full-Year Outlook with Strong Q4 Performance

GREENVILLE, SC -- August 21, 2025 -- ScanSource, Inc. (NASDAQ: SCSC), a leading technology distributor uniquely-positioned to address complex, converging technologies, today announced financial results for the fourth quarter and fiscal year ended June 30, 2025.

Fourth Quarter Summary Fiscal Year Summary
Q4 FY25 Q4 FY24 Change FY25 FY24 Change
(in thousands, except percentages and per share data)
Select reported measures:
Net sales $ 812,886  $ 746,113  8.9% $ 3,040,810  $ 3,259,809  -6.7%
Gross profit $ 105,102  $ 97,315  8.0% $ 408,646  $ 399,052  2.4%
Gross profit margin % 12.9  % 13.0  % -11bp 13.4  % 12.2  % 120bp
Operating income $ 26,787  $ 21,871  22.5% $ 85,200  $ 90,324  -5.7%
GAAP net income $ 20,089  $ 16,097  24.8% $ 71,548  $ 77,060  -7.2%
GAAP diluted EPS $ 0.88  $ 0.64  37.5% $ 3.00  $ 3.06  -2.0%
Select Non-GAAP measures*:
Adjusted EBITDA $ 38,639  $ 34,181  13.0% $ 144,660  $ 140,654  2.8%
Adjusted EBITDA margin % 4.75  % 4.58  % 17bp 4.76  % 4.31  % 45bp
Non-GAAP net income $ 23,322  $ 19,921  17.1% $ 85,144  $ 77,670  9.6%
Non-GAAP diluted EPS $ 1.02  $ 0.80  27.5% $ 3.57  $ 3.08  15.9%
Note: Margin % reflects measure as a percentage of sales.
* Represents non-GAAP financial measures. For more information and a reconciliation to the most directly comparable GAAP financial measure, see "Non-GAAP Financial Information" below as well as the accompanying Supplementary Information.

“We delivered strong free cash flow for our fiscal year and achieved excellent profitability growth across the board,” said Mike Baur, Chair and CEO, ScanSource, Inc. “As we enter fiscal year 2026, we plan to make strategic investments in our business to accelerate growth and expand margins.”

Quarterly Results

Net sales for the fourth quarter of fiscal year 2025 totaled $812.9 million, up 8.9% year-over-year. Net sales for products and services increased 8.1% year-over-year, and recurring revenue increased 30.0% year-over-year including acquisitions. For Specialty Technology Solutions, fourth quarter net sales of $788.7 million increased 9.2% year-over-year, driven by broad-based growth in North America. Intelisys & Advisory net sales for the fourth quarter increased 1.3% year-over-year to $24.2 million reflecting the addition of an acquisition.

Gross profit for the fourth quarter of fiscal year 2025 increased 8.0% year-over-year to $105.1 million, with a gross profit margin of 12.9% versus 13.0% in the prior-year quarter. For the fourth quarter of fiscal year 2025, the percentage of gross profit from recurring revenue increased to 31.6% from 28.5% for the prior-year period.

For the fourth quarter of fiscal year 2025, operating income was $26.8 million compared to $21.9 million in the prior-year quarter. Fourth quarter fiscal year 2025 non-GAAP operating income increased to $31.3 million from $26.0 million in the prior-year quarter.

1

On a GAAP basis, net income for the fourth quarter of fiscal year 2025 totaled $20.1 million, or $0.88 per diluted share, up from net income of $16.1 million, or $0.64 per diluted share, for the prior-year quarter. Fourth quarter fiscal year 2025 non-GAAP net income increased to $23.3 million, or $1.02 per diluted share, from $19.9 million, or $0.80 per diluted share, for the prior-year quarter. On a non-GAAP basis, adjusted EBITDA for the fourth quarter of fiscal year 2025 increased 13.0% to $38.6 million, or 4.75% of net sales, compared to $34.2 million, or 4.58% of net sales, for the prior-year quarter.

Full-Year Results

For fiscal year 2025, net sales decreased 6.7% to $3.04 billion. Net sales for products and services decreased 8.1% year-over-year, while recurring revenue increased 31.8% year-over-year including acquisitions. For Specialty Technology Solutions, fiscal year net sales of $2.94 billion decreased 7.1% year-over-year, primarily due to a more cautious technology spending environment in the first half of the fiscal year. Intelisys & Advisory net sales for the fiscal year 2025 increased 6.3% year-over-year to $98.1 million reflecting the addition of an acquisition.

Gross profit for fiscal year 2025 increased 2.4% year-over-year to $408.6 million with a gross profit margin of 13.4%, up from 12.2% in the prior year. The higher gross profit margin reflects a higher contribution of recurring revenue, which is netted-down revenue, in our overall revenue mix and higher vendor program recognition. For fiscal year 2025, the percentage of gross profit from recurring revenue increased to 32.8% from 27.5% for the prior year.

For the fiscal year ended June 30, 2025, operating income was $85.2 million compared to $90.3 million in the prior year. Fiscal year 2025 non-GAAP operating income increased to $111.3 million from $110.4 million in the prior year.

On a GAAP basis, net income for the fiscal year 2025 totaled $71.5 million, or $3.00 per diluted share, compared to net income of $77.1 million, or $3.06 per diluted share, for the prior year. Fiscal year 2025 non-GAAP net income increased to $85.1 million, or $3.57 per diluted share, up from $77.7 million, or $3.08 per diluted share, for the prior year. On a non-GAAP basis, adjusted EBITDA for the fiscal year 2025 increased 2.8% to $144.7 million, or 4.76% of net sales, up from $140.7 million, or 4.31% of net sales, for the prior year.

Balance Sheet and Cash Flow

As of June 30, 2025, ScanSource had cash and cash equivalents of $126.2 million and total debt of $136.1 million.

For fiscal year 2025, ScanSource generated $112.3 million of operating cash flow and $104.1 million of free cash flow (non-GAAP). ScanSource also had share repurchases of $106.5 million for fiscal year 2025.

Annual Financial Outlook for Fiscal Year 2026

The following guidance is based on ScanSource's current expectations for the full fiscal year ended June 30, 2026.

FY26 Annual Outlook
Net sales $3.1 billion to $3.3 billion
Adjusted EBITDA (non-GAAP) $150 million to $160 million
Free cash flow (non-GAAP) At least $80 million

Adjusted EBITDA is a non-GAAP measure, which excludes estimates for amortization of intangible assets, depreciation expense, and non-cash shared-based compensation expense. Free cash flow is a non-GAAP measure, which excludes the effect of estimated capital expenditures from estimated operating cash flow. These measures are forward-looking, and actual results may differ materially.

ScanSource believes that a quantitative reconciliation of such forward-looking information to the most directly comparable GAAP financial measures cannot be made without unreasonable efforts, because a reconciliation of these non-GAAP financial measures would require an estimate of future non-operating items such as acquisitions and divestitures, restructuring costs, impairment charges and other unusual or non-recurring items. Neither the timing nor likelihood of these events, nor their probable significance, can be quantified with a reasonable degree of accuracy. Accordingly, a reconciliation of such forward-looking information to the most directly comparable GAAP financial measures is not provided.

2

Webcast Details and Earnings Infographic
At approximately 8:45 a.m. ET today, an Earnings Infographic, as a supplement to this press release and the earnings conference call, will be available on ScanSource's website, www.scansource.com (Investor Relations section). ScanSource will present additional information about its financial results and business in a conference call today, August 21, 2025, at 10:30 a.m. ET. A webcast of the call will be available for all interested parties and can be accessed at www.scansource.com (Investor Relations section). The webcast will be available for replay for 60 days.

Safe Harbor Statement

This press release contains “forward-looking” statements, including ScanSource's FY26 annual outlook, which involve risks and uncertainties, many of which are beyond ScanSource's control. No undue reliance should be placed on such statements, as any number of factors could cause actual results to differ materially from anticipated or forecasted results, including, but not limited to, the following factors, which are neither presented in order of importance nor weighted: macroeconomic conditions, including potential prolonged economic weakness, inflation, tariffs and changes in trade policy, the failure to manage and implement ScanSource's growth strategy, the ability for ScanSource to realize the synergies or other benefits from acquisitions, credit risks involving ScanSource's larger channel sales partners and suppliers, changes in interest and exchange rates and regulatory regimes impacting ScanSource's international operations, including new or increased tariffs, risk to the business from a cyberattack, a failure of IT systems, failure to hire and retain quality employees, loss of ScanSource's major channel sales partners, relationships with key suppliers and channel sales partners or a termination or a modification of the terms under which it operates with these key suppliers and channel sales partners, changes in ScanSource's operating strategy, and other factors set forth in the "Risk Factors" contained in ScanSource's annual report on Form 10-K for the year ended June 30, 2025. Except as may be required by law, ScanSource expressly disclaims any obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release or otherwise.

Non-GAAP Financial Information

In addition to disclosing results that are determined in accordance with United States Generally Accepted Accounting Principles ("GAAP"), ScanSource also discloses certain non-GAAP financial measures, which are summarized below. Non-GAAP financial measures are used to understand and evaluate performance, including comparisons from period to period. Non-GAAP results exclude items such as amortization of intangible assets related to acquisitions, acquisition and divestiture costs, gain/loss on sale of business, and restructuring costs and include other non-GAAP adjustments.

Net sales on a constant currency basis excluding acquisitions and divestitures to calculate organic growth ("non-GAAP net sales"): ScanSource discloses the percentage change in net sales excluding the translation impact from changes in foreign currency exchange rates between reporting periods and excluding the net sales from acquisitions and divestitures prior to the first full year from the transaction date. This measure enhances the comparability between periods to help analyze underlying trends on an organic basis.

Adjusted earnings before interest expense, income taxes, depreciation, and amortization (“Adjusted EBITDA”): Adjusted EBITDA starts with net income and adds back interest expense, income tax expense, depreciation expense, amortization of intangible assets, change in fair value of contingent consideration, and other non-GAAP adjustments, including acquisition and divestiture costs, restructuring costs, cyberattack restoration costs, tax recovery, and non-cash share-based compensation expense. Since Adjusted EBITDA excludes some non-cash costs of investing in ScanSource’s business and people, management believes that Adjusted EBITDA shows the profitability from the business operations more clearly. The Adjusted EBITDA margin is calculated as Adjusted EBITDA as a percentage of net sales.

Adjusted return on invested capital ("Adjusted ROIC"): Adjusted ROIC assists management in comparing ScanSource's performance over various reporting periods on a consistent basis because it removes from operating results the impact of items that do not reflect core operating performance. Management believes the calculation of Adjusted ROIC provides useful information to investors and is an additional relevant comparison of its performance. Adjusted ROIC is calculated as Adjusted EBITDA over invested capital. Invested capital is defined as average equity plus average daily funded interest-bearing debt for the period. Management believes the calculation of Adjusted ROIC provides useful information to investors and is an additional relevant comparison of ScanSource's performance during the year.

Free cash flow: ScanSource presents free cash flow as it is a measure used by management to measure our business. ScanSource believes this measure provides more information regarding liquidity and capital resources. Free cash flow is defined as net cash provided by operating activities less capital expenditures.

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Net debt: Net debt includes total balance sheet debt less cash and cash equivalents. ScanSource believes this measure is useful in assessing its borrowing capacity.

Additional Non-GAAP Metrics: To evaluate current period performance on a more consistent basis with prior periods, ScanSource discloses non-GAAP SG&A expenses, non-GAAP operating income, non-GAAP pre-tax income, non-GAAP net income, and non-GAAP diluted earnings per share (non-GAAP diluted EPS). These non-GAAP results exclude amortization of intangible assets related to acquisitions, change in fair value of contingent consideration, acquisition and divestiture costs, restructuring costs, and other non-GAAP adjustments. These metrics include the translation impact of changes in foreign currency exchange rates. Non-GAAP metrics are useful in assessing and understanding ScanSource's performance especially when comparing results with previous periods or forecasting performance for future periods.

These non-GAAP financial measures have limitations as analytical tools, and the non-GAAP financial measures that ScanSource reports may not be comparable to similarly titled amounts reported by other companies. Analysis of results and outlook on a non-GAAP basis should be considered in addition to, and not in substitution for or as superior to, measurements of financial performance prepared in accordance with GAAP. A reconciliation of ScanSource's non-GAAP financial information to GAAP is set forth in the Supplementary Information (Unaudited) below.

About ScanSource, Inc.

ScanSource, Inc. (NASDAQ: SCSC) is a leading technology distributor uniquely-positioned to address complex, converging technologies and to accelerate growth for channel sales partners across hardware, software as a service (SaaS), connectivity and cloud services. ScanSource enables channel sales partners to deliver converging solutions for their end users. ScanSource uses multiple sales models to offer technology solutions from leading suppliers of specialty technologies, connectivity and cloud services. Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource was named one of the 2025 Best Places to Work in South Carolina and on FORTUNE magazine’s 2025 List of World’s Most Admired Companies. ScanSource ranks #875 on the Fortune 1000. For more information, visit www.scansource.com.

4
SCANSOURCE REPORTS FOURTH QUARTER AND FULL-YEAR RESULTS

ScanSource, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except share data)
June 30, 2025* June 30, 2024*
Assets
Current assets:
Cash and cash equivalents $ 126,157  $ 185,460 
Accounts receivable, less allowance of $27,821 at June 30, 2025
and $20,684 at June 30, 2024
 635,521  581,523 
Inventories 483,815  512,634 
Prepaid expenses and other current assets 124,959  125,082 
Total current assets 1,370,452  1,404,699 
Property and equipment, net 31,169  33,501 
Goodwill 230,820  206,301 
Identifiable intangible assets, net 62,909  37,634 
Deferred income taxes 18,769  19,902 
Other non-current assets 71,487  76,995 
Total assets $ 1,785,606  $ 1,779,032 
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable $ 598,595  $ 587,984 
Accrued expenses and other current liabilities 71,263  65,616 
Current portion of contingent consideration 1,318  — 
Income taxes payable 3,927  7,895 
Current portion of long-term debt 7,861  7,857 
Total current liabilities 682,964  669,352 
Long-term debt, net of current portion 128,288  136,149 
Borrowings under revolving credit facility —  50 
Long-term portion of contingent consideration 17,782  — 
Other long-term liabilities 50,163  49,226 
Total liabilities 879,197  854,777 
Commitments and contingencies
Shareholders’ equity:
Preferred stock, no par value; 3,000,000 shares authorized, none issued
 —  — 
Common stock, no par value; 45,000,000 shares authorized, 22,217,421 and 24,243,848 shares issued and outstanding at June 30, 2025 and June 30, 2024, respectively
 —  26,370 
Retained earnings 1,020,833  1,013,738 
Accumulated other comprehensive loss (114,424) (115,853)
Total shareholders’ equity 906,409  924,255 
Total liabilities and shareholders’ equity $ 1,785,606  $ 1,779,032 
*Derived from audited financial statements.

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SCANSOURCE REPORTS FOURTH QUARTER AND FULL-YEAR RESULTS
ScanSource, Inc. and Subsidiaries
Condensed Consolidated Income Statements (Unaudited)
(in thousands, except per share data)
  Quarter ended June 30, Fiscal year ended June 30,
  2025 2024 2025* 2024*
Net sales $ 812,886  $ 746,113  $ 3,040,810  $ 3,259,809 
Cost of goods sold 707,784  648,798  2,632,164  2,860,757 
Gross profit 105,102  97,315  408,646  399,052 
Selling, general and administrative expenses 71,610  68,498  286,934  277,428 
Depreciation expense 1,925  2,770  10,004  11,219 
Intangible amortization expense 4,927  3,741  19,227  15,723 
Restructuring and other charges —  435  5,381  4,358 
Change in fair value of contingent consideration (147) —  1,900  — 
Operating income 26,787  21,871  85,200  90,324 
Interest expense 2,099  2,084  8,013  13,031 
Interest income (3,054) (3,285) (11,247) (9,381)
Gain on sale of business —  —  —  (14,155)
Other (income) expense, net 245  375  (5,962) 988 
Income before income taxes 27,497  22,697  94,396  99,841 
Provision for income taxes 7,408  6,600  22,848  22,781 
Net income $ 20,089  $ 16,097  $ 71,548  $ 77,060 
Per share data:
Net income per common share, basic $ 0.89  $ 0.66  $ 3.05  $ 3.10 
Weighted-average shares outstanding, basic 22,526  24,524  23,442  24,868 
Net income per common share, diluted $ 0.88  $ 0.64  $ 3.00  $ 3.06 
Weighted-average shares outstanding, diluted 22,858  25,046  23,839  25,222 
*Derived from audited financial statements.


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SCANSOURCE REPORTS FOURTH QUARTER AND FULL-YEAR RESULTS
ScanSource, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
Fiscal year ended June 30,
2025* 2024*
Cash flows from operating activities:
Net income $ 71,548  $ 77,060 
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Gain on sale of business —  (14,155)
Depreciation and amortization 30,195  28,009 
Amortization of debt issue costs 386  386 
Provision for doubtful accounts 8,351  8,317 
Share-based compensation 11,062  9,537 
Deferred income taxes 1,128  (2,472)
Change in fair value of contingent consideration 1,900  — 
Finance lease interest 86  101 
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable (55,011) 138,264 
Inventories 28,874  239,157 
Prepaid expenses and other assets 7,303  (17,804)
Other non-current assets 3,974  (10,689)
Accounts payable 3,673  (78,167)
Accrued expenses and other liabilities 2,846  (3,872)
Income taxes payable (3,966) (2,025)
Net cash provided by operating activities 112,349  371,647 
Cash flows from investing activities:
Capital expenditures (8,286) (8,555)
Cash paid for business acquisitions, net of cash acquired (56,673) — 
Proceeds from sale of business, net of cash transferred 2,569  17,600 
Net cash (used in) provided by investing activities (62,390) 9,045 
Cash flows from financing activities:
Borrowings on revolving credit 51,954  1,259,728 
Repayments on revolving credit (52,004) (1,438,658)
Repayments on long-term debt, net (7,857) (6,915)
Borrowings (repayments) on finance lease obligation (1,090) (964)
Exercise of stock options 9,511  4,813 
Taxes paid on settlement of equity awards (4,895) (2,876)
Common stock repurchased (106,524) (42,895)
Net cash used in financing activities (110,905) (227,767)
Effect of exchange rate changes on cash and cash equivalents 1,643  (3,643)
(Decrease) increase in cash and cash equivalents (59,303) 149,282 
Cash and cash equivalents at beginning of period 185,460  36,178 
Cash and cash equivalents at period end $ 126,157  $ 185,460 
*Derived from audited financial statements.



7
SCANSOURCE REPORTS FOURTH QUARTER AND FULL-YEAR RESULTS
ScanSource, Inc. and Subsidiaries
Supplementary Information (Unaudited)
(in thousands, except percentages)
Non-GAAP Financial Information:
Quarter ended June 30, Fiscal year ended June 30,
2025 2024 2025 2024
Reconciliation of Net Income to Adjusted EBITDA:
Net income (GAAP) $ 20,089 $ 16,097 $ 71,548 $ 77,060
Plus: Interest expense 2,099 2,084 8,013 13,031
Plus: Income taxes 7,408 6,600 22,848 22,781
Plus: Depreciation and amortization 7,101 6,792 30,195 28,009
EBITDA (non-GAAP) 36,697 31,573 132,604 140,881
Plus: Change in fair value of contingent consideration (147) —  1,900 — 
Plus: Share-based compensation 2,673 1,808 11,062 9,537
Plus: Acquisition and divestiture costs 191 503 926 1,717
Plus: Cyberattack restoration costs — 141 177 874 
Plus: Restructuring costs — 435 5,381 4,358
Plus: Tax recovery (470) (657) (3,041) (2,558)
Plus: Insurance recovery, net of payments (305) — (5,928) —
Plus: Loss (gain) on sale of business — 378 — (14,155)
Adjusted EBITDA (numerator for Adjusted ROIC) (non-GAAP) $ 38,639 $ 34,181 $ 144,660 $ 140,654
Invested Capital Calculations:
Equity – beginning of the period $ 901,746 $ 944,053 $ 924,255 $ 905,298
Equity – end of the period 906,393 924,255 906,409 924,255
Plus: Change in fair value of contingent consideration, net (110) — 1,432 —
Plus: Share-based compensation, net 2,007 1,350 8,310 7,120
Plus: Acquisition and divestiture costs 191 503 926 1,717
Plus: Cyberattack restoration costs, net — 106 133 655
Plus: Restructuring costs, net — 327 4,054 3,262
Plus: Insurance recovery, net (229) — (4,466) —
Plus: Tax recovery, net (310) (278) (4,072) (2,566)
Plus: Loss (gain) on sale of business — 378 — (14,155)
Average equity 904,844 935,347 919,085 912,793
Average funded debt (a)
 138,270 146,121 141,173 220,528
Invested capital (denominator for Adjusted ROIC) (non-GAAP) $ 1,043,114 $ 1,081,468 $ 1,060,258 $ 1,133,321
Adjusted return on invested capital ratio (Adjusted ROIC), annualized(b)
 14.9  % 12.7  % 13.6  % 12.4  %
(a) Average funded debt is calculated as the average daily amounts outstanding on short-term and long-term interest-bearing debt.
(b) The annualized adjusted EBITDA amount is divided by days in the quarter times 365 days per year, or 366 days for leap year. There were 91 days in the current quarter and prior-year quarter.


8
SCANSOURCE REPORTS FOURTH QUARTER AND FULL-YEAR RESULTS
ScanSource, Inc. and Subsidiaries
Supplementary Information (Unaudited)
Net Sales by Segment:
Quarter ended June 30,
2025 2024 % Change
Specialty Technology Solutions: (in thousands)
Net sales, reported $ 788,708  $ 722,251  9.2  %
Foreign exchange impact (a)
 4,683  — 
Less: Acquisitions (7,140) — 
Non-GAAP net sales $ 786,251  $ 722,251  8.9  %
Intelisys & Advisory:
Net sales, reported $ 24,178  $ 23,862  1.3  %
Foreign exchange impact (a)
 (14) — 
Less: Acquisitions (1,054) — 
Non-GAAP net sales $ 23,110  $ 23,862  (3.2) %
Consolidated:
Net sales, reported $ 812,886  $ 746,113  8.9  %
Foreign exchange impact (a)
 4,669  — 
Less: Acquisitions (8,194) — 
Non-GAAP net sales $ 809,361  $ 746,113  8.5  %
(a) Year-over-year net sales growth rate excluding the translation impact of changes in foreign currency exchange rates. Calculated by translating the net sales for the quarter ended June 30, 2025 into U.S. dollars using the average foreign exchange rates for the quarter ended June 30, 2024.

9
SCANSOURCE REPORTS FOURTH QUARTER AND FULL-YEAR RESULTS
ScanSource, Inc. and Subsidiaries
Supplementary Information (Unaudited)
Net Sales by Segment:
Fiscal year ended June 30,
2025 2024 % Change
Specialty Technology Solutions: (in thousands)
Net sales, reported $ 2,942,717  $ 3,167,549  (7.1) %
Foreign exchange impact (a)
 32,754  — 
Less: Acquisitions (24,199) — 
Less: Divestitures —  (4,019)
Non-GAAP net sales $ 2,951,272  $ 3,163,530  (6.7) %
Intelisys & Advisory:
Net sales, reported $ 98,093  $ 92,260  6.3  %
Foreign exchange impact (a)
 (19) — 
Less: Acquisitions (5,978) — 
Non-GAAP net sales $ 92,096  $ 92,260  (0.2) %
Consolidated:
Net sales, reported $ 3,040,810  $ 3,259,809  (6.7) %
Foreign exchange impact (a)
 32,735  — 
Less: Acquisitions (30,177) — 
Less: Divestitures —  (4,019)
Non-GAAP net sales $ 3,043,368  $ 3,255,790  (6.5) %
(a) Year-over-year net sales growth rate excluding the translation impact of changes in foreign currency exchange rates. Calculated by translating the net sales for the twelve months ended June 30, 2025 into U.S. dollars using the average foreign exchange rates for the twelve months ended June 30, 2024.
ScanSource, Inc. and Subsidiaries
Supplementary Information (Unaudited)
Net Sales by Revenue Type:
Quarter ended June 30,
2025 2024 % Change
(in thousands)
Net sales by product/service:
Products and services $ 776,349  $ 718,003  8.1  %
Recurring revenue(a)
 36,537  28,110  30.0  %
$ 812,886  $ 746,113  8.9  %
(a) Recurring revenue represents primarily agency commissions, managed connectivity, SaaS, subscriptions, and hardware rentals.
Fiscal year ended June 30,
2025 2024 % Change
(in thousands)
Net sales by product/service:
Products and services $ 2,895,110  $ 3,149,234  (8.1) %
Recurring revenue(a)
 145,700  $ 110,575  31.8  %
$ 3,040,810  $ 3,259,809  (6.7) %
(a) Recurring revenue represents primarily agency commissions, managed connectivity, SaaS, subscriptions, and hardware rentals.
10
SCANSOURCE REPORTS FOURTH QUARTER AND FULL-YEAR RESULTS
ScanSource, Inc. and Subsidiaries
Supplementary Information (Unaudited)
Net Sales by Geography:
Quarter ended June 30,
2025 2024 % Change
United States and Canada: (in thousands)
Net sales, as reported $ 744,644  $ 663,542  12.2  %
Less: Acquisitions (8,194) — 
Non-GAAP net sales $ 736,450  $ 663,542  11.0  %
Brazil:
Net sales, reported(a)
 $ 68,242  $ 82,571  (17.4) %
Foreign exchange impact(b)
 4,669  — 
Non-GAAP net sales $ 72,911  $ 82,571  (11.7) %
Consolidated:
Net sales, reported $ 812,886  $ 746,113  8.9  %
Foreign exchange impact(b)
 4,669  — 
Less: Acquisitions (8,194) — 
Non-GAAP net sales $ 809,361  $ 746,113  8.5  %
(a) Countries outside of the United States, Canada and Brazil represent $0.2 million, or 0.3% of sales, for the quarter ended June 30, 2025 and $0.1 million, or 0.1% of sales, for the quarter ended June 30, 2024.
(b) Year-over-year net sales growth rate excluding the translation impact of changes in foreign currency exchange rates. Calculated by translating the net sales for the quarter ended June 30, 2025 into U.S. dollars using the average foreign exchange rates for the quarter ended June 30, 2024.
11
SCANSOURCE REPORTS FOURTH QUARTER AND FULL-YEAR RESULTS
ScanSource, Inc. and Subsidiaries
Supplementary Information (Unaudited)
Net Sales by Geography:
Fiscal year ended June 30,
2025 2024 % Change
United States and Canada: (in thousands)
Net sales, as reported $ 2,800,739  $ 2,921,172  (4.1) %
Less: Acquisitions (30,177) — 
Non-GAAP net sales, excluding acquisitions $ 2,770,562  $ 2,921,172  (5.2) %
International:
Net sales, reported (a)
 $ 240,071  $ 338,637  (29.1) %
Foreign exchange impact (b)
 32,735  — 
Less: Divestitures —  (4,019)
Non-GAAP net sales $ 272,806  $ 334,618  (18.5) %
Consolidated:
Net sales, reported $ 3,040,810  $ 3,259,809  (6.7) %
Foreign exchange impact (b)
 32,735  — 
Less: Acquisitions (30,177)
Less: Divestitures —  (4,019)
Non-GAAP net sales $ 3,043,368  $ 3,255,790  (6.5) %
(a) Countries outside of the United States, Canada and Brazil represent $0.6 million, or 0.2% of sales, for the fiscal year June 30, 2025 and $4.4 million, or 1.3% of sales, for the fiscal year June 30, 2024.
(b) Year-over-year net sales growth rate excluding the translation impact of changes in foreign currency exchange rates. Calculated by translating the net sales for the fiscal year ended June 30, 2025 into U.S. dollars using the average foreign exchange rates for the fiscal year ended June 30, 2024.
ScanSource, Inc. and Subsidiaries
Supplementary Information (Unaudited)
(in thousands)
Free Cash Flow:
Quarter ended June 30, Fiscal year ended June 30,
2025 2024 2025 2024
GAAP operating cash flow $ 7,644  $ 54,738  $ 112,349  $ 371,647 
Less: Capital expenditures (2,518) (1,270) (8,286) (8,555)
Free cash flow (non-GAAP) $ 5,126  $ 53,468  $ 104,063  $ 363,092 












12
SCANSOURCE REPORTS FOURTH QUARTER AND FULL-YEAR RESULTS
ScanSource, Inc. and Subsidiaries
Supplementary Information (Unaudited)
(in thousands, except per share data)
Reconciliation of Other Non-GAAP Financial Information:
Quarter ended June 30, 2025
GAAP Measure Intangible amortization expense Change in fair value of contingent consideration
Acquisition & divestiture costs (a)
 Restructuring costs Insurance recovery, net Tax recovery Cyberattack restoration costs Non-GAAP measure
(in thousands, except per share data)
SG&A expenses $ 71,610  $ —  $ —  $ (191) $ —  $ —  $ 470  $ —  $ 71,889 
Operating income 26,787  4,927  (147) 191  —  —  (470) —  31,288 
Pre-tax income 27,497  4,927  (147) 191  —  (305) (470) —  31,693 
Net income 20,089  3,691  (110) 191  —  (229) (310) —  23,322 
Diluted EPS $ 0.88  $ 0.16  $ —  $ 0.01  $ —  $ (0.01) $ (0.01) $ —  $ 1.02 
Quarter ended June 30, 2024
GAAP Measure Intangible amortization expense
Loss on sale of business (b)
Acquisition & divestiture costs (a)
 Restructuring costs Insurance recovery, net Tax recovery Cyberattack restoration costs Non-GAAP measure
(in thousands, except per share data)
SG&A expense $ 68,498  $ —  $ —  $ (503) $ —  $ —  $ 657  $ (141) $ 68,511 
Operating income 21,871  3,741  —  503  435  —  (657) 141  26,034 
Pre-tax income 22,697  3,741  378  503  435  —  (657) 141  27,238 
Net income 16,097  2,788  378  503  327  —  (278) 106  19,921 
Diluted EPS $ 0.64  $ 0.11  $ 0.02  $ 0.02  $ 0.01  $ —  $ (0.01) $ —  $ 0.80 
 
(a) Acquisition and divestiture costs for the quarters ended June 30, 2025 and June 30, 2024 are generally nondeductible for tax purposes.
(b) Reflects adjustment to the gain on the sale of the UK-based intY business.








13
SCANSOURCE REPORTS FOURTH QUARTER AND FULL-YEAR RESULTS
-bas
ScanSource, Inc. and Subsidiaries
Supplementary Information (Unaudited)
(in thousands, except per share data)
Reconciliation of Other Non-GAAP Financial Information:
Year ended June 30, 2025
GAAP Measure Intangible amortization expense Change in fair value of contingent consideration
Acquisition & divestiture costs (a)
 Restructuring costs Tax recovery Cyberattack restoration costs Legal Settlement Insurance Recovery Non-GAAP measure
(in thousands, except per share data)
SG&A expenses $ 286,934  $ —  $ —  $ (926) $ —  $ 3,041  $ (177) $ (1,579) $ —  $ 287,293 
Operating income 85,200  19,227  1,900  926  5,381  (3,041) 177  1,579  —  111,349 
Pre-tax income 94,396  19,227  1,900  926  5,381  (3,041) 177  1,579  (5,928) 114,617 
Net income 71,548  14,400  1,432  926  4,054  (4,072) 133  1,189  (4,466) 85,144 
Diluted EPS $ 3.00  $ 0.60  $ 0.06  $ 0.04  $ 0.17  $ (0.17) $ 0.01  $ 0.05  $ (0.19) $ 3.57 
Year ended June 30, 2024
GAAP Measure Intangible amortization expense Change in fair value of contingent consideration
Acquisition & divestiture costs (a)
 Restructuring costs Tax recovery Cyberattack restoration costs
Gain on sale of business (b)
 Insurance Recovery Non-GAAP measure
(in thousands, except per share data)
SG&A expense $ 277,428  $ —  $ —  $ (1,717) $ —  $ 2,558  $ (874) $ —  $ —  $ 277,395 
Operating income 90,324  15,723  —  1,717  4,358  (2,558) 874  —  —  110,438 
Pre-tax income 99,841  15,723  —  1,717  4,358  (2,558) 874  (14,155) —  105,800 
Net income 77,060  11,697  —  1,717  3,262  (2,566) 655  (14,155) —  77,670 
Diluted EPS $ 3.06  $ 0.46  $ —  $ 0.07  $ 0.13  $ (0.10) $ 0.03  $ (0.56) $ —  $ 3.08 
(a) Acquisition and divestiture costs for the fiscal years ended June 30, 2025 and June 30, 2024 are generally nondeductible for tax purposes.
(b) Reflects adjustment to the gain on the sale of the UK-based intY business.
14
EX-99.2 3 scansourceearningsinfogr.htm EX-99.2 scansourceearningsinfogr
Fiscal Fourth Quarter and Full Year 2025 Earnings Key Highlights © ScanSource 2025 Consolidated We delivered strong free cash flow for our fiscal year and achieved excellent profitability growth across the board. As we enter fiscal year 2026, we plan to make strategic investments in our business to accelerate growth and expand margins.” Mike Baur Chair and CEO, ScanSource, Inc. Achieved FY25 Outlook for All Measures, Strong Cash Flow Executing Strategic Plan, Highest ROIC in 10 Quarters Introducing New 3-Year Strategic Goals Q4 Net Sales and Gross Profit Specialty Technology Solutions Segment Intelisys & Advisory Segment Net Sales +9% Y/Y $813M Gross Profit +8% Y/Y $105M, 12.9% margin STS, Net Sales +9% Y/Y $789M STS, Gross Profit +10% Y/Y $81M, 10.3% margin I&A, Net Sales +1% Y/Y $24M I&A, Gross Profit +1% Y/Y $24M, 98.9% margin

 
* Non-GAAP measure For further financial data, non-GAAP financial disclosures and cautionary language regarding forward-looking statements, please refer to the following pages and ScanSource’s fourth quarter fiscal year 2025 news release issued on August 21, 2025, which accompanies this presentation and is available at www.scansource.com in the Investor Relations section [click here]. Operating Metrics New 3-Year Strategic Goals Fiscal Year 2026 Annual Outlook as of August 21, 2025 © ScanSource 2025 2 Net Sales $3.1 billion to $3.3 billion Adjusted EBITDA* $150 million to $160 million Free Cash Flow* At least $80 million Gross Profit Growth CAGR Recurring Revenue GP as % Gross Profit Adjusted EBITDA Margin* Free Cash Flow Conversion as % Non-GAAP Net Income* Adjusted ROIC* 5%-7% Build to 50% ~6% Consistent 80%+ Mid-Teens $0.88 per share Q4, +38% Y/Y $3.00 per share FY25, -2% Y/Y GAAP Diluted EPS 4.75% Q4 4.76% FY25 Adjusted EBITDA Margin* $112M FY25 Operating Cash Flow $104M FY25 Free Cash Flow* $1.02 per share Q4, +28% Y/Y $3.57 per share FY25, +16% Y/Y Non-GAAP Diluted EPS* $38.6M Q4, +13% Y/Y $144.7M FY25, +3% Y/Y Adjusted EBITDA* 14.9% Q4 13.6% FY25 Adjusted ROIC* $107M share repurchases in FY25 Differentiated Leader, Pivoting to Stronger Growth

 
* Reflects estimated mix of FY25 gross sales for the United States/Canada business. The geographic mix for FY25 STS net sales is approximately 92% for United States/Canada and 8% for Brazil. ** Management estimates Specialty Technology Solutions: Key Technologies and Growth Drivers 3 POS, Payment TerminalsPhysical SecurityCommunicationsNetworkingMobility and Barcode % of Sales* Low Single-Digit ▲ Upper Single-Digit ▲▲▲ Low Single-Digit ▲ Mid Single-Digit ▲▲ Mid Single-Digit ▲▲ Market Growth** - Customer experience - Self-service - Omni-channel commerce - Video surveillance - Advances in AI, high-res imaging - Cloud security - Cloud growth & shift to subscriptions - Remote/hybrid work - Integrated platforms - Connected devices - AI smart networking - Enhanced network security - Automation & worker productivity - Digitizing workflows - Asset visibility Growth Drivers

 
* Reflects estimated mix of FY25 net billings for Intelisys. Intelisys represents approximately 87% of Intelisys & Advisory segment FY25 net sales. ** Management estimates. Intelisys & Advisory Segment: Key Technologies and Growth Drivers 4 Wireless & IoTSecurityCloud/Data CenterCX (UCaaS/CCaaS)Connectivity & SDN % of Net Billings* ~10%+ ▲▲▲ ~10%+ ▲▲▲ ~10%+ ▲▲▲ ~10%+ ▲▲▲ Low Single-Digit ▲ Market Growth** - 5G, hybrid & private cellular networks - Rapid expansion of applications & connected devices - Advanced cybersecurity - Managed services - Cloud adoption - Digital transformation - Adoption of AI and machine learning - Edge computing - AI, automation & analytics - Collaborative tools for mobile workforce - Demand for high- bandwidth / low latency - 5G rollouts & IoT - Automation Growth Drivers

 
Forward-Looking Statements This Earnings Infographic and supporting materials contain “forward-looking” statements, including ScanSource's FY26 annual outlook and mid-term goals, which involve risks and uncertainties, many of which are beyond ScanSource’s control. No undue reliance should be placed on such statements, as any number of factors could cause actual results to differ materially from anticipated or forecasted results, including, but not limited to, the following factors, which are neither presented in order of importance nor weighted: macroeconomic conditions, including potential prolonged economic weakness, inflation, tariffs and changes in trade policy, the failure to manage and implement ScanSource's growth strategy, the ability for ScanSource to realize the synergies or other benefits from acquisitions, credit risks involving ScanSource's larger channel sales partners and suppliers, changes in interest and exchange rates and regulatory regimes impacting ScanSource's international operations, including new or increased tariffs, risk to the business from a cyberattack, a failure of IT systems, failure to hire and retain quality employees, loss of ScanSource's major channel sales partners, relationships with key suppliers and channel sales partners or a termination or a modification of the terms under which it operates with these key suppliers and channel sales partners, changes in ScanSource's operating strategy, and other factors set forth in the "Risk Factors" contained in ScanSource's annual report on Form 10-K for the year ended June 30, 2025, filed with the Securities and Exchange Commission. Except as may be required by law, ScanSource expressly disclaims any obligation to update these forward-looking statements to reflect events or circumstances after the date of this Earnings Infographic or otherwise. Non-GAAP Financial Information In addition to disclosing results that are determined in accordance with United States Generally Accepted Accounting Principles (“GAAP”), ScanSource also discloses certain non-GAAP measures, including non-GAAP SG&A expenses, non-GAAP operating income, non-GAAP operating income margin, non-GAAP pre-tax income, non-GAAP net income, non-GAAP diluted EPS, adjusted EBITDA, adjusted EBITDA margin, net debt, adjusted ROIC, free cash flow and net sales in constant currency excluding acquisitions and divestitures (organic growth). A reconciliation of the Company's non-GAAP financial information to GAAP financial information is provided in the following supporting materials and in the Company’s Form 8-K, filed with the SEC, with the quarterly earnings press release for the period indicated. Please see the “Non-GAAP Financial Information” section in the quarterly earnings press release for additional description of ScanSource’s non-GAAP measures. ScanSource discloses forward-looking information that is not presented in accordance with GAAP with respect to adjusted EBITDA, adjusted EBITDA margin, adjusted ROIC, and free cash flow. ScanSource believes that a quantitative reconciliation of such forward-looking information to the most directly comparable GAAP financial measure cannot be made without unreasonable efforts, because a reconciliation of these non-GAAP financial measures would require an estimate of future non-operating items such as acquisitions and divestitures, restructuring costs, impairment charges and other unusual or non-recurring items. Neither the timing nor likelihood of these events, nor their probable significance, can be quantified with a reasonable degree of accuracy. Accordingly, a reconciliation of such forward- looking information to the most directly comparable GAAP financial measure is not provided. 5