REVENUES |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| REVENUES |
4. REVENUES
Accounts Receivable
Our accounts receivable—trade, net consists of accounts receivable recognized from contracts with customers. The following table provides a disaggregation of our balance in accounts receivable—trade, net (in thousands):
As of June 30, 2026, and March 31, 2026, our accounts receivable—trade, net included $24.9 million and $8.6 million, respectively, of receivables due from financing partners in payment for our sale of customer receivables to them. Additionally, as of June 30, 2026, and March 31, 2026, we had $2.9 million and $6.3 million, respectively, in receivables recognized from contracts with customers that we intend to sell to financing partners as part of other current assets in our consolidated balance sheet.
Contract Assets
Contract assets represent our right to consideration in exchange for goods or services that we transferred to a customer when that right is conditioned on something other than the passage of time. We had contract assets of $17.7 million and $17.8 million as of June 30, 2026, and March 31, 2026, respectively. Our contract assets are included as part of other current assets in our consolidated balance sheet.
Contract Liabilities
Contract liabilities represent our obligation to transfer goods or services to a customer for which we have received consideration, or the amount is due from the customer. Our contract liabilities consist of our contract liabilities and contract liabilities—long-term in our consolidated balance sheets. Revenues recognized from the beginning contract liability balance were $49.5 million and $42.8 million for the three months ended June 30, 2026, and 2025, respectively.
Performance Obligations
The following table includes revenue expected to be recognized in the future related to performance obligations, primarily non-cancelable contracts for ePlus managed services, that are unsatisfied or partially unsatisfied at the end of the reporting period (in thousands):
The table does not include the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, and (ii) contracts where we recognize revenue at the amount that we have the right to invoice for services performed.
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