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Insight Enterprises

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FY2024 Annual Report · Insight Enterprises
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2024
Insight Annual Report

2024 proved to be a transformative and crucial year for Insight amid some challenging macroeconomic dynamics. 
While the foremost technology experts predicted a century’s worth of progress in less than eight years, we focused on our clients’ needs and made  
measurable progress toward our ambition of becoming the leading Solutions Integrator.
Here are a few elements of our financial performance:
 
• 
We expanded gross margin by 210 basis points to 20.3%. 
 
• 
Diluted earnings per share for the full year was $6.55, and adjusted diluted earnings per share was $9.68, despite device revenue decline. 
 
• 
Our cloud gross profit improved to $484 million, an increase of 21%, reflecting higher growth in SaaS and infrastructure as a service. 
 
• 
Insight Core Services gross profit grew to $315 million, an increase of 15%.  
 
• 
While net earnings decreased 11%, our adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”) margin expanded year 
 
 
over year. 
 
• 
And cash flow from operations was over $600 million for the second year in a row.
These results are especially notable given industry challenges and economic headwinds during the year. While some competitors consolidated or were 
acquired, we invested and expanded — in a strategic direction that guides our path forward. 
Our strategy
More than ever, success comes from recognizing patterns and possibilities that others miss. Rather than reacting to market shifts, we anticipate  
them — positioning Insight to help clients navigate massive technological changes. Here are our priorities:
Put clients first
Our top priority is helping clients succeed and becoming the partner they can’t live without. Key successes include:
 
• 
We opened our 250,000-square-foot Solutions Integration Center in Fort Worth, Texas, complete with AI-powered robotics and improved speeds   
 
 
for clients’ shipment and delivery. 
 
• 
Our client-supporting teams adopted our Salesforce Customer Relationship Management (CRM) tool, benefiting from AI-powered insights,  
 
 
reporting and dashboards to improve client engagement. 
 
• 
We exceeded our internal Net Promoter Score goal, based on feedback from more than 3,500 clients, reflecting the continued trust our clients place  
 
 
in Insight.
Deliver differentiation
Our innovative and scalable solutions, strong talent, and unique portfolio strategy give us a differentiated advantage.
 
• 
Insight acquired Infocenter, the leading ServiceNow Elite Partner, and made progress toward integrating our 2023 acquisitions, Amdaris and SADA. 
 
• 
We’ve filed more than 190 patent applications with the U.S. Patent and Trademark Office with 32 patents awarded so far.  
 
• 
Insight earned over 40 partner accolades, including Cisco Americas & U.S. Partner of the Year, Dell Acquisition Partner of the Year, Microsoft’s  
 
 
 
Americas AI & Copilot Innovation Partner of the Year, and AWS Premier Tier Services Partner status.
Champion culture
Our people are central to our success. By creating a culture of curiosity, continuous learning, and accountability, our teams consistently deliver exceptional 
value worldwide.
 
• 
We received recognition as a Great Place to Work in 12 countries. 
 
• 
Insight was named on the Forbes World’s Best Employers List, ranking No. 38 among IT companies. Forbes also honored Insight as one of America’s 
 
 
Best Large Employers and one of Canada’s Best Employers.  
 
• 
Newsweek honored Insight several times with multiple five-star ratings across its America’s Greatest Workplaces. 
 
• 
Thirty Insight leaders were recognized in CRN’s Women of the Channel, and seven made CRN’s Next-Gen Solution Provider Leaders list.
Drive profitable growth
Our balanced approach of operational excellence and strategic investments fuels sustainable profitability. 
 
• 
Even as global device demand softened, we expanded our gross margins and increased our services share. Net revenue was $8.7 billion, a  
 
 
decrease of 5%. Despite this decline, we increased gross profit by 6%. 
 
• 
We organized our North American business around our strategy to accelerate growth to outperform the market, with a sharper focus on the  
 
 
fastest-growing solutions our clients demand in preparation for the new year.  
 
• 
We opened two new offices in India — Noida and Bengaluru, establishing Insight in the nation’s IT hub. 
 
• 
We continue to invest in AI offerings, cloud services, and digital workplace solutions to stay on the leading edge. 
Our ambition is to be the go-to Solutions Integrator globally — helping our clients uncover new opportunities and transform their businesses by putting 
together the right combination of hardware, software, and services and delivering the outcomes that make them successful.
Our strategic priorities keep us focused on what matters most: providing exceptional value for our clients.
I’m deeply grateful to our teammates for their dedication, as well as to our partners and shareholders for your ongoing trust. We’re shaping the future of 
Insight and delivering transformative results for our clients, and we couldn’t be more excited about the possibilities that lie ahead.
Sincerely,
Joyce Mullen  
President and Chief Executive Officer,  
Insight Enterprises, Inc.
Dear fellow stockholder,

LONG LEGACY & DEEP KNOWLEDGE
No. 427 on the Fortune 500 
founded in 1988
MULTI-CLOUD SOLUTIONS
DEEP PORTFOLIO  
& RELATIONSHIPS
6,000+ 
hardware, software  
and cloud partners
GLOBAL REACH
OPERATIONS IN 
26 countries 
serving clients 
around the globe
ENGAGED WORKFORCE
14,000+  
Insight teammates 
worldwide
FINANCIAL STABILITY
$8.7B 
 in revenue in 2024
 BROAD EXPERTISE
10,100+  
6,400+  
total client-facing  
teammates
skilled, certified  
consulting and service  
delivery professionals
including
Unlocking the power of 
people and technology
Global Scale and Technical Expertise
Cybersecurity
Data 
and AI
Intelligent 
Applications
Hybrid 
Multicloud
Digital 
Workplace 
Our Solutions Expertise:

Financial Performance Summary
2019
$7.7
$8.7
2024
Net Sales Trend 2019-2024
2% CAGR
12% CAGR
12% CAGR
12% CAGR
9% CAGR
25% 
CAGR
14% 
CAGR
$ in Billions
Twelve Months Ended December 31,
2019
2019
$5.42
$305.8
$9.68
$543.5
2024
2024
Adjusted Diluted EPS Trend 2019-2024
Adjusted EBITDA 2019-2024
2019
$502.4
$281.8
2024
Adjusted EFO and Margin Trend 2019-2024
Use of Non-GAAP 
Financial Measures
The non-GAAP financial measures (referred
to as Adjusted EFO, Adjusted Diluted EPS and
Adjusted EBITDA) exclude the items noted for
each in the tables. Other consists of severance
and restructuring expenses, certain executive
recruitment and hiring related expenses,
transformation costs, data center service
outage related expenses, net of recoveries  
and certain acquisition, and integration- 
related expenses, and impairment of property 
and equipment, as applicable. The Company
excludes these items when internally  
evaluating its results of operations. These
non-GAAP measures are used by management 
to evaluate financial performance against 
budgeted amounts, to calculate incentive 
compensation, to assist in forecasting future 
performance and to compare the Company’s 
results to those of the Company’s competitors. 
The Company believes that these non-GAAP 
financial measures are useful to investors 
because they allow for greater transparency, 
facilitate comparisons to prior periods and the  
Company’s competitors’ results, and assist  
in forecasting performance for future periods. 
These non-GAAP financial measures are not
prepared in accordance with GAAP and may 
be different from non-GAAP financial  
measures presented by other companies.
Non-GAAP financial measures should not be
considered as a substitute for, or superior to,
measures of financial performance prepared
in accordance with GAAP.
$ in Millions
U.S. Dollar in $000s, except per-share data
2024
2019
Adjusted Consolidated Earnings from Operations:
GAAP consolidated EFO
 $388,584
 $240,594
Amortization of intangible assets
 69,581
22,985
Change in fair value of earnout liabilities
(7,849)
–
Other
52,056 
 18,268
Adjusted non-GAAP consolidated EFO
 $502,372
 $281,847
Adjusted Diluted Earnings Per Share:
GAAP diluted EPS
 $6.55
 $4.43
Amortization of intangible assets
1.82
0.64
Amortization of debt discount and issuance costs
–
0.12
Change in fair value of earnout liabilities
(0.21)
–
Other
1.37
0.51
Income taxes on non-GAAP adjustments
(0.66)
 (0.28)
Impact of benefit from note hedge
 0.81
–
Adjusted non-GAAP diluted EPS
 $9.68
 $5.42
Adjusted EBITDA:
GAAP consolidated net earnings
 $249,691
 $159,407
Interest expense
 68,272
 29,614
Income tax expense
 83,222
 52,309
Depreciation and amortization of property and equipment
28,556
23,224
Amortization of intangible assets
69,581
22,985
Change in fair value of earnout liabilities
(7,849)
–
Other
52,056
18,268
Adjusted non-GAAP EBITDA
 $543,529
 $305,807
3.6%
2019
$1,138
14.7%
$1,766
2024
GP and Margin Trend 2019-2024
$ in Millions
$ in Millions
20.3%
2019
$156.4
$483.9
2024
2019
$167.2
$315.0
2024
Cloud Gross 
Profit
2019-2024
Insight Core 
Services Gross Profit
2019-2024
$ in Millions
$ in Millions
5.8%

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Board of Directors
Insight.com  |  1.800.Insight
Timothy A. Crown
Chairman of the Board
Investor / Entrepreneur
Anthony A. Ibargüen
Executive Chair of Culligan, 
Quench and Culligan,  
Latin America
Catherine Courage
Vice President of Experience  
for Consumer Products, 
Google, Inc.
Joyce A. Mullen
President and Chief  
Executive Officer,
Insight Enterprises, Inc.
Girish Rishi
Chief Executive Officer,  
Cognite LLC
Bruce Armstrong
Operating Partner,
Khosla Ventures
Richard E. Allen
Investor
Linda M. Breard
Investor
Thomas Reichert 
Chief Executive Officer, 
Environmental Resources 
Management, Inc.
Janet Foutty 
Chief Executive Officer (retired), 
Deloitte Consulting LLP

Ryan Miyasato
Investor Relations
408.975.8507
ryan.miyasato@insight.com
Auditors
KPMG LLP
Phoenix, AZ
Tracey Workman
Media Relations
781.366.1789
tracey.workman@insight.com
Common Stock Listing
The company’s common stock is listed on the Nasdaq  
Global Select Market under the trading symbol NSIT
Transfer Agent
EQ Shareowner Services
1110 Centre Pointe Curve, Suite 101
Mendota Heights, MN 55120
800.468.9716
www.shareowneronline.com
Insight Global Headquarters
2701 E Insight Way
Chandler, AZ 85286 
800.467.4448
Insight’s Leadership
Samuel C. Cowley
Senior Vice President,
General Counsel  
and Secretary
Dee Burger
President, Insight  
North America
James A. Morgado
Chief Financial  
Officer
Joyce A. Mullen
President and Chief  
Executive Officer
Jen Vasin
Chief Human  
Resources Officer
Hilary Kerner
Chief Marketing 
Officer
Rob Green
Chief Digital Officer
Adrian Gregory
President,
Insight EMEA
Mike Morgan
Senior Vice President 
and Managing  
Director, Insight APAC
Rachael A. Crump
Chief Accounting  
Officer