Insight Enterprises Board Member Alexander Baum to Retire at 2025 Annual Meeting

Insight Enterprises announced that board member Alexander Baum will retire and not seek re-election at the company’s 2025 annual meeting.

Baum will continue to serve until that time.

His departure is not due to any disagreement with the company.

Following his retirement, the board will reduce its size from 12 to 10 members.

The company has also entered into an agreement with ValueAct Capital Management, continuing to share confidential information and collaborate on strategic matters.

Baum, who is associated with ValueAct, expressed appreciation for his time on the board and confidence in Insight’s transformation.

Insight Enterprises, Inc. (NASDAQ: NSIT) reported its financial results for the fourth quarter and full year ended December 31, 2024.

Key highlights include:

- **Fourth Quarter**: Gross profit increased 1% year-over-year to $439.6 million, with a gross margin expansion of 170 basis points to a record 21.2%. However, consolidated net earnings decreased by 59%, falling to $37.0 million, and diluted earnings per share decreased by 59% to $0.99.
- **Full Year**: Gross profit increased 6% to $1.8 billion, with gross margin expanding by 210 basis points to a record 20.3%. However, consolidated net earnings for the year decreased by 11% to $249.7 million, with diluted earnings per share decreasing by 13% to $6.55.
- **Adjusted Results**: Adjusted EBITDA for Q4 decreased by 11%, but increased by 4% for the full year. Adjusted diluted earnings per share for Q4 decreased by 11% to $2.66, while for the full year it remained flat at $9.68.
- **Sales Performance**: For the fourth quarter, net sales decreased 7% year-over-year to $2.1 billion, while net sales for the full year decreased by 5% to $8.7 billion.
- **Cash Flow**: Operating cash flow for the fourth quarter was $215.1 million, and for the full year it reached $632.8 million.

Despite the decline in earnings, the company achieved a record gross margin and strong cash flow, benefiting from growth in its cloud solutions and Insight Core services. CEO Joyce Mullen highlighted that the macroeconomic environment influenced client investment decisions but emphasized the company's progress in key growth areas.