PC Connection, Inc.

connection.com

What Do They Do?

Provides computer systems, software, and IT services to large businesses, small and midsize businesses, and government and educational institutions.

How Do They Make Money?

Customers mainly buy IT products, with sales counted when delivered; software licenses are counted when made available or terms are accepted, and company-performed services as the work is done.

revenue

Segment	Share	How money arrives
Notebooks/Mobility Sold outright	35% FY2022: 37%	Sold outright
Desktops Sold outright	12% FY2022: 9.9%	Sold outright
Software Mix	11% FY2022: 9.4%	Mix
Servers/Storage Sold outright	7.7% FY2022: 6.8%	Sold outright
Net/Com Products Sold outright	7.0% FY2022: 6.9%	Sold outright
Displays and Sound Sold outright	8.7% FY2022: 10%	Sold outright
Accessories Sold outright	11% FY2022: 13%	Sold outright
Other Hardware/Services	7.5% FY2022: 7.1%

Who Are Their Customers?

Large businesses, small and midsize companies, and government and education institutions buy directly through sales representatives and the company’s websites.

Do Revenues Turn Into Profits?

Yes. It kept 3 cents of every revenue dollar as net income in FY2025 and turned 2 cents into free cash flow.

Operating income, FY2025

3% of revenue

▲ +2% vs FY2024 ($97.1M, 3%)

Net income, FY2025

3% of revenue

▼ −4% vs FY2024 ($87.1M, 3%)

Free cash flow, FY2025

2% of revenue

▼ −65% vs FY2024 ($166.3M, 6%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Sep 30, 2026

Revenue: ▲ +23%; vs $709.1M in Q3 FY2025
Net income: ▲ +27%; vs $24.7M in Q3 FY2025

Notebooks/Mobility share of revenue vs 33.7% in Q3 FY2025

Flat. Revenue was $2.9B in FY2025, about the same as the $2.9B of FY2021.

Expanded solution areas The current business description adds security and artificial intelligence as explicit solution areas alongside its IT hardware and software offerings.

Revenue over time

Notebooks/Mobility Desktops Software Servers/Storage Net/Com Products Displays and Sound Accessories Other Hardware/Services

$5B$2.5B$0

FY2021 FY2022 FY2023 FY2024 FY2025

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