正羽科技 2026年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2025 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from____ to ____. Commission file number:1-34167 ePlus inc. (Exact name of registrant as specified in its charter) Delaware54-1817218(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 13595 Dulles Technology Drive, Herndon, VA 20171-3413(Address, including zip code, of principal executive offices) Registrant’s telephone number, including area code:(703) 984-8400 Securities registered pursuant to Section 12(b) of the Act:Title of each classTrading Symbol(s)Name of each exchange on whichregisteredCommon Stock, $.01 par valuePLUSNASDAQ Global Select Market Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter periodthat the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See definition of “large accelerated filer”, “accelerated filer”, “smaller reportingcompany”, and “emerging growth company” in Rule 12b-2 of the Exchange Act: Accelerated filer☐Smaller reporting company☐Emerging growth company☐ Large accelerated filer☒Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ The number of shares of common stock outstanding as of February 2, 2026, was 26,392,561. TABLE OF CONTENTS ePlus inc. AND SUBSIDIARIES Part I.Financial InformationItem 1.Financial StatementsUnaudited Consolidated Balance Sheets as of December 31, 2025, and March 31, 20254Unaudited Consolidated Statements of Operations for the Three and Nine Months Ended December 31,2025, and 20245Unaudited Consolidated Statements of Comprehensive Income for the Three and Nine Months EndedDecember 31, 2025, and 20246Unaudited Consolidated Statements of Cash Flows for the Nine Months Ended December 31, 2025, and20247Unaudited Consolidated Statements of Stockholders’ Equity for the Three and Nine Months EndedDecember 31, 2025, and 20249Notes to Unaudited Consolidated Financial Statements10Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations24Item 3.Quantitative and Qualitative Disclosures About Market Risk37Item 4.Controls and Procedures37Part II.Other InformationItem 1.Legal Proceedings38Item 1A.Risk Factors38Item 2.Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities38Item 3.Defaults Upon Senior Securities39Item 4.Mine Safety Disclosures39Item 5.Other Information39Item 6.Exhibits40Signatures411 Table of Contents CAUTIONARY LANGUAGE ABOUT FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains certain statements that are, or may be deemed to be, “forward-looking statements”within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of1934, as amended (the “Exchange Act”), and are made in reliance upon the protections provided by such acts for forward-lookingstatements. Such forward-looking statements are not based on historical fact but are based upon numerous assumptions about futureconditions that may not occur. Given their forward-looking nature, these statements involve substantial risks, uncertainties andpotentially inaccurate assumptions. Forward-looking statements are generally identifiable by use of forward-looking words such as“may,” “should,” “would,” “intend,” “estimate,” “will,” “potential,” “possible,” “could,” “believe,” “expect,” “intend,” “plan,”“anticipate,” “project,” and similar expressions or by using future dates. Readers are cautioned not to place undue reliance on anyforward-looking statements made by us or on our behalf. Forward-looking statements are made based upon information that iscurrently available or management’s current expectations and beliefs concerning future developments an