nsit-20260630

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)


x			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: June 30, 2026


o			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: 0-25092

INSIGHT ENTERPRISES, INC.

(Exact name of registrant as specified in its charter)


Delaware			86-0766246
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification Number)

2701 E. Insight Way, Chandler, Arizona 85286

(Address of principal executive offices) (Zip Code)

(480) 333-3000

(Registrant’s telephone number, including area code)

__________________________________________________________________

Not Applicable

_________________________________________________________________

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol	Name of each exchange on which registered
Common stock, par value $0.01	NSIT	The NASDAQ 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 Securities Exchange 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 x			No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).


Yes x			No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer	x	Accelerated filer	o
Non-accelerated filer	o	Smaller reporting company	o
		Emerging growth company	o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).


Yes o			No x

The number of shares outstanding of the issuer’s common stock as of July 31, 2026 was 29,348,850.

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INSIGHT ENTERPRISES, INC.

QUARTERLY REPORT ON FORM 10-Q

Three Months Ended June 30, 2026

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		Page
PART I -	Financial Information

Item 1 –	Financial Statements:

	Condensed Consolidated Balance Sheets (unaudited) – June 30, 2026 and December 31, 2025	1

	Condensed Consolidated Statements of Operations (unaudited) – Three and Six Months Ended June 30, 2026 and 2025	2

	Condensed Consolidated Statements of Comprehensive Income (unaudited) – Three and Six Months Ended June 30, 2026 and 2025	3

	Condensed Consolidated Statements of Stockholders’ Equity (unaudited) – Three and Six Months Ended June 30, 2026 and 2025	4

	Condensed Consolidated Statements of Cash Flows (unaudited) – Six Months Ended June 30, 2026 and 2025	5

	Notes to Condensed Consolidated Financial Statements (unaudited)	6

Item 2 –	Management’s Discussion and Analysis of Financial Condition and Results of Operations	25

Item 3 –	Quantitative and Qualitative Disclosures About Market Risk	43

Item 4 –	Controls and Procedures	43

PART II -	Other Information	44

Item 1 –	Legal Proceedings	44

Item 1A –	Risk Factors	44

Item 2 –	Unregistered Sales of Equity Securities and Use of Proceeds	44

Item 3 –	Defaults Upon Senior Securities	44

Item 4 –	Mine Safety Disclosures	44

Item 5 –	Other Information	45

Item 6 –	Exhibits	46

Signatures		47

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INSIGHT ENTERPRISES, INC.

FORWARD-LOOKING INFORMATION

References to "the Company," “Insight,” “we,” “us,” “our” and other similar words refer to Insight Enterprises, Inc. and its consolidated subsidiaries, unless the context suggests otherwise. Certain statements in this Quarterly Report on Form 10-Q, including statements in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part I, Item 2 of this report, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include: projections of, and matters that affect, net sales, gross profit, gross margin, operating expenses, earnings from operations, non-operating income and expenses, net earnings or cash flows, cash needs and the payment of accrued expenses and liabilities; our expectations regarding supply constraints, including due to impacts of the current global memory chip shortage; our expectations regarding certain trends for our business, including that gross margin expansion could continue into future periods as we focus on selling solutions and increasing our services net sales; our expectation that transformation costs are not expected to recur in the longer term; the expected effects of seasonality on our business, including as a result of recent acquisitions; expectations of further consolidation and trends in the Information Technology (“IT”) industry; our business strategy and our strategic initiatives, including our efforts to grow our core business in the current environment, develop and grow our global cloud business and build scalable solutions; expectations regarding the impact of partner incentives and changes to partner incentive programs; our expectations about future benefits of our acquisitions and our plans related thereto, including potential expansion into wider regions; the increasing demand for big data solutions; the availability of competitive sources of products for our purchase and resale; our intentions concerning the payment of dividends; our acquisition strategy and our expectation that we will incur additional acquisition and integration related expenses in executing such strategy; our expectations regarding the impact of inflation, including our expectation that interest rates will hold steady and continue to remain higher than historical rates throughout most of 2026, and our ability to offset the effects of inflation and manage any increase in interest rates; the effects of tariffs and trade policies; projections of capital expenditures; our plans to continue to evolve our IT systems; our expectation that our gross margins will improve as our mix of services and solutions increase; plans relating to share repurchases; our liquidity and the sufficiency of our capital resources, the availability of financing and our needs or plans relating thereto; the effects of new accounting principles and expected dates of adoption; the effect of indemnification obligations; projections about the outcome of ongoing tax audits; our expectations regarding future tax rates and the impact of domestic and global tax legislation, including our expectation that our effective tax rate will return to more typical levels in the foreseeable future; our belief that we have adequate provisions for and our positions and strategies with respect to ongoing and threatened litigation and expected outcomes; our ability to expand our client relationships; our expectations that pricing pressures in the IT industry will continue; our intention to use cash generated in excess of working capital needs to pay down our senior secured revolving credit facility (the “ABL facility") and inventory financing facilities and to repurchase shares of our common stock; our belief that our office facilities are adequate and that we will be able to extend our current leases or locate substitute facilities on satisfactory terms; our belief that we have adequate provisions for losses; our expectation that we will not incur interest payments under our inventory financing facilities; our expectations that future income will be sufficient to fully recover deferred tax assets; our exposure to off-balance sheet arrangements; statements of belief; and statements of assumptions underlying any of the foregoing. Forward-looking statements are identified by such words as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will,” “may” and variations of such words and similar expressions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. There can be no assurances that results described in forward-looking statements will be achieved, and actual results could differ materially from those suggested by the forward-looking statements. Some of the important factors that could cause our actual results to differ materially from those projected in any forward-looking statements include, but are not limited to, the following, which are discussed in “Risk Factors” in Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2025 and in "Risk Factors" in Part II, Item 1A of this report:

•actions of our competitors, including manufacturers and publishers of products we sell;

•our reliance on our partners for product availability, competitive products to sell and marketing funds and purchasing incentives, which can and do change significantly in the amounts made available and in the requirements year over year;

•our ability to keep pace with rapidly evolving technological advances, including generative and agentic artificial intelligence ("AI") and the evolving competitive marketplace;

•general economic conditions, economic uncertainties and changes in geopolitical conditions, including the possibility of a recession or a decline in market activity related to tariffs and trade policies, international conflicts including the war in Iran, or otherwise;

•changes in the IT industry and/or rapid changes in technology;

•our ability to provide high quality services to our clients;

•our reliance on independent shipping companies;

•the risks associated with our international operations, including our expansion into the Middle East;

•supply constraints for products;

•natural disasters or other adverse occurrences, including public health issues such as pandemics or epidemics;

•disruptions in our IT systems and voice and data networks;

•cyberattacks, outages, or third-party breaches of data privacy as well as related breaches of government regulations;

•intellectual property infringement claims and challenges to our copyrights, patents, trademarks and trade names;

•potential liability and competitive risk based on the development, adoption, and use of generative AI ("Gen AI") and agentic AI;

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INSIGHT ENTERPRISES, INC.

•legal proceedings, client audits and failure to comply with laws and regulations;

•risks of termination, delays in payment, audits and investigations related to our public sector contracts;

•exposure to changes in, interpretations of, or enforcement trends related to tax rules and regulations;

•our potential to draw down a substantial amount of indebtedness;

•increased debt and interest expense and the possibility of decreased availability of funds under our financing facilities;

•possible significant fluctuations in our future operating results as well as seasonality and variability in client demands;

•potential contractual disputes or collection matters with our clients and third-party suppliers;

•our dependence on certain key personnel, our ability to attract, train and retain skilled teammates and our ability to manage the business during the transition of our new Chief Executive Officer;

•risks associated with the integration and operation of acquired businesses, including achievement of expected synergies and benefits; and

•future sales of the Company’s common stock or equity-linked securities in the public market could lower the market price for our common stock.

Additionally, there may be other risks described from time to time in the reports that we file with the Securities and Exchange Commission (the “SEC”). Any forward-looking statements in this report are made as of the date of this filing and should be considered in light of various important factors, including the risks and uncertainties listed above, as well as others. We assume no obligation to update, and, except as may be required by law, do not intend to update, any forward-looking statements. We do not endorse any projections regarding future performance that may be made by third parties.

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PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

INSIGHT ENTERPRISES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except per share data)

(unaudited)


	June 30, 2026		December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$	363,482	$	358,020
Accounts receivable, net of allowance for doubtful accounts of $22,391 and $48,064, respectively	7,815,930		5,516,984
Inventories	247,889		160,648
Contract assets, net	58,589		65,745
Other current assets	309,554		260,990
Total current assets	8,795,444		6,362,387
Long-term contract assets, net	40,901		53,176
Property and equipment, net of accumulated depreciation and amortization of $195,811 and $184,730, respectively	186,314		188,449
Goodwill	1,166,420		1,169,734
Intangible assets, net of accumulated amortization of $361,507 and $320,553, respectively	383,589		426,237
Long-term accounts receivable, net	699,011		763,923
Other assets	122,071		123,466
	$	11,393,750	$	9,087,372
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable—trade	$	6,519,548	$	4,263,796
Accounts payable—inventory financing facilities	266,636		225,035
Accrued expenses and other current liabilities	647,774		615,464
Current portion of long-term debt	—		8
Total current liabilities	7,433,958		5,104,303
Long-term debt	1,475,089		1,361,327
Deferred income taxes	70,477		70,715
Long-term accounts payable	619,579		715,494
Other liabilities	189,622		186,659
	9,788,725		7,438,498
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value, 3,000 shares authorized; no shares issued	—		—
Common stock, $0.01 par value, 100,000 shares authorized; 29,515 shares at June 30, 2026 and 30,996 shares at December 31, 2025 issued and outstanding	295		310
Additional paid-in capital	171,931		164,560
Retained earnings	1,486,649		1,520,404
Accumulated other comprehensive loss – foreign currency translation adjustments	(53,850)		(36,400)
Total stockholders’ equity	1,605,025		1,648,874
	$	11,393,750	$	9,087,372

See accompanying notes to condensed consolidated financial statements.

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INSIGHT ENTERPRISES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited)


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net sales:
Products	$	1,885,609	$	1,665,290	$	3,552,155	$	3,373,090
Services	513,888		426,192		975,328		821,948
Total net sales	2,399,497		2,091,482		4,527,483		4,195,038
Costs of goods sold:
Products	1,692,240		1,480,777		3,179,884		3,012,603
Services	185,655		168,378		363,846		333,631
Total costs of goods sold	1,877,895		1,649,155		3,543,730		3,346,234
Gross profit:
Products	193,369		184,513		372,271		360,487
Services	328,233		257,814		611,482		488,317
Gross profit	521,602		442,327		983,753		848,804
Operating expenses:
Selling and administrative expenses	384,575		352,314		768,558		691,487
Severance and restructuring expenses, net	5,795		3,405		12,280		10,431
Acquisition and integration related expenses	265		76		266		251
Earnings from operations	130,967		86,532		202,649		146,635
Non-operating expense (income):
Interest expense, net	24,409		22,352		48,042		37,977
Other (income) expense, net	248		13		(1,204)		25,482
Earnings before income taxes	106,310		64,167		155,811		83,176
Income tax expense	28,741		17,235		48,233		28,730
Net earnings	$	77,569	$	46,932	$	107,578	$	54,446
Net earnings per share:
Basic	$	2.58	$	1.48	$	3.54	$	1.71
Diluted	$	2.57	$	1.46	$	3.53	$	1.63
Shares used in per share calculations:
Basic	30,032		31,780		30,410		31,809
Diluted	30,174		32,121		30,515		33,402

See accompanying notes to condensed consolidated financial statements.

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INSIGHT ENTERPRISES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands)

(unaudited)


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net earnings	$	77,569	$	46,932	$	107,578	$	54,446
Other comprehensive (loss) gain, net of tax:
Foreign currency translation adjustments	(11,200)		35,319		(17,450)		46,089
Total comprehensive income	$	66,369	$	82,251	$	90,128	$	100,535

See accompanying notes to condensed consolidated financial statements.

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INSIGHT ENTERPRISES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(in thousands)

(unaudited)


	Common Stock			Treasury Stock			Additional Paid-in Capital		Accumulated Other Comprehensive Loss		Retained Earnings		Total Stockholders' Equity
	Shares	Par Value		Shares	Amount
Balances at March 31, 2026	30,191	$	302	—	$	—	$	164,747	$	(42,650)	$	1,480,197	$	1,602,596
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	24	—		—	—		(520)		—		—		(520)
Stock-based compensation expense	—	—		—	—		11,114		—		—		11,114
Employee stock purchase plan issuances	10	—		—	—		876		—		—		876


Excise tax on stock repurchases	—	—		—	—		(410)		—				(410)
Repurchase of treasury stock	—	—		(710)	(75,000)		—		—		—		(75,000)
Retirement of treasury stock	(710)	(7)		710	75,000		(3,876)		—		(71,117)		—

Foreign currency translation adjustments, net of tax	—	—		—	—		—		(11,200)		—		(11,200)
Net earnings	—	—		—	—		—		—		77,569		77,569
Balances at June 30, 2026	29,515	$	295	—	$	—	$	171,931	$	(53,850)	$	1,486,649	$	1,605,025
Balances at March 31, 2025	31,912	$	319	—	$	—	$	144,941	$	(70,388)	$	1,516,072	$	1,590,944
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	31	—		—	—		(1,327)		—		—		(1,327)
Stock-based compensation expense	—	—		—	—		9,061		—		—		9,061
Employee stock purchase plan issuances	9	—		—	—		1,181		—		—		1,181


Settlement upon early exercise of Warrants	68	1		—	—		(4)		—		—		(3)
Excise tax on stock repurchases	—	—		—	—		(506)		—		—		(506)
Repurchase of treasury stock	—	—		(600)	(76,118)		—		—		—		(76,118)
Retirement of treasury stock	(600)	(6)		600	76,118		(2,725)		—		(73,387)		—
Foreign currency translation adjustments, net of tax	—	—		—	—		—		35,319		—		35,319
Net earnings	—	—		—	—		—		—		46,932		46,932
Balances at June 30, 2025	31,420	$	314	—	$	—	$	150,621	$	(35,069)	$	1,489,617	$	1,605,483
Balances at December 31, 2025	30,996	$	310	—	$	—	$	164,560	$	(36,400)	$	1,520,404	$	1,648,874
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	107	1		—	—		(3,973)		—		—		(3,972)
Stock-based compensation expense	—	—		—	—		19,311		—		—		19,311
Employee stock purchase plan issuances	22	—		—	—		1,772		—		—		1,772


Repurchase of treasury stock	—	—		(1,610)	(150,000)		—		—		—		(150,000)
Retirement of treasury stock	(1,610)	(16)		1,610	150,000		(8,652)		—		(141,332)		—
Excise tax on stock repurchases	—	—		—	—		(1,087)		—		(1)		(1,088)

Foreign currency translation adjustments, net of tax	—	—		—	—		—		(17,450)		—		(17,450)
Net earnings	—	—		—	—		—		—		107,578		107,578
Balances at June 30, 2026	29,515	$	295	—	$	—	$	171,931	$	(53,850)	$	1,486,649	$	1,605,025
Balances at December 31, 2024	31,778	$	318	—	$	—	$	342,893	$	(81,158)	$	1,508,558	$	1,770,611
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	158	2		—	—		(12,419)						(12,417)
Stock-based compensation expense	—	—		—	—		17,909		—		—		17,909
Employee stock purchase plan issuances	16	—		—	—		2,368		—		—		2,368
Shares issued upon conversion of Notes	2,833	28		—	—		(28)		—		—		—
Shares received from convertible note hedge upon conversion of convertible notes	(2,833)	(28)		—	—		28		—		—		—
Repurchase of treasury stock	—	—		(600)	(76,118)		—		—		—		(76,118)
Retirement of treasury stock	(600)	(6)		600	76,118		(2,725)		—		(73,387)		—
Excise tax on stock repurchases	—	—		—	—		(505)		—		—		(505)
Settlement upon early exercise of Warrants	68						(196,900)						(196,900)
Foreign currency translation adjustments, net of tax	—	—		—	—		—		46,089		—		46,089
Net earnings	—	—		—	—		—		—		54,446		54,446
Balances at June 30, 2025	31,420	$	314	—	$	—	$	150,621	$	(35,069)	$	1,489,617	$	1,605,483

See accompanying notes to condensed consolidated financial statements.

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INSIGHT ENTERPRISES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)


	Six Months Ended June 30,
	2026		2025
Cash flows from operating activities:
Net earnings	$	107,578	$	54,446
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	57,333		51,711
Provision for losses on accounts receivable	9,386		2,269
Provision for losses on contract assets	(744)		3,926
Non-cash stock-based compensation	19,311		17,909
Net change on revaluation of earnout liabilities	25,570		15,364
Earnout payments in excess of acquisition date fair value	(1,071)		—
Deferred income taxes	1,733		(13,689)
Net loss on revaluation of warrant settlement liabilities	—		25,069
Impairment loss on long lived real estate asset	2,033		12,588
Amortization of debt issuance costs	1,708		2,344
Other adjustments	61		(843)
Changes in assets and liabilities:
Increase in accounts receivable	(2,393,734)		(1,128,707)
Increase in inventories	(90,534)		(23,243)
Decrease in contract assets	20,203		36,227
Decrease in long-term accounts receivable	62,276		103,073
Increase in other assets	(54,336)		(61,411)
Increase in accounts payable	2,329,960		950,439

Decrease in long-term accounts payable	(93,537)		(103,511)
Increase (decrease) in accrued expenses and other liabilities	16,944		(42,962)
Net cash provided by (used in) operating activities:	20,140		(99,001)
Cash flows from investing activities:
Proceeds from sale of assets	7,985		—
Purchases of property and equipment	(13,855)		(11,978)

Net cash used in investing activities:	(5,870)		(11,978)
Cash flows from financing activities:
Borrowings on ABL revolving credit facility	3,129,000		3,103,360
Repayments on ABL revolving credit facility	(3,008,787)		(2,322,961)
Warrants settlement	—		(221,968)
Repayment of principal on the Convertible Notes	—		(333,091)
Net borrowings under inventory financing facilities	42,559		2,077

Payment of debt issuance costs	(366)		—
Repurchases of common stock	(150,000)		(76,118)
Earnout and acquisition related payments	(5,456)		—
Other payments	(3,115)		(12,181)
Net cash provided by financing activities:	3,835		139,118
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances	(12,321)		21,959
Increase in cash, cash equivalents and restricted cash	5,784		50,098
Cash, cash equivalents and restricted cash at beginning of period	360,776		261,467
Cash, cash equivalents and restricted cash at end of period	$	366,560	$	311,565

See accompanying notes to condensed consolidated financial statements.

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INSIGHT ENTERPRISES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

1.Basis of Presentation and Recently Issued Accounting Standards

At Insight, we accelerate transformation by unlocking the power of people and technology. We turn complexity into clarity, helping our clients achieve meaningful business outcomes and drive real results at scale. We serve these clients in North America; Europe, the Middle East and Africa (“EMEA”); and Asia-Pacific (“APAC”). As a Fortune 500-ranked Solutions Integrator, we deliver secure, end-to-end digital transformation and meet the needs of our clients through a comprehensive portfolio of solutions, far-reaching partnerships and 38 years of broad IT expertise. We amplify our solutions and services with global scale, local expertise and our e-commerce experience, enabling our clients to realize their digital ambitions in multiple ways. Our company is organized in the following three operating segments, which are primarily defined by their related geographies:


Operating Segment						Geography
North America						United States and Canada
EMEA						Europe, Middle East and Africa
APAC						Asia-Pacific

Our offerings in North America and certain countries in EMEA and APAC include hardware, software and services, including cloud solutions. Our offerings in the remainder of our EMEA and APAC segments consist largely of software and certain software-related services and cloud solutions.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly our financial position as of June 30, 2026 and our results of operations for the three and six months ended June 30, 2026 and 2025 and cash flows for the six months ended June 30, 2026 and 2025. The consolidated balance sheet as of December 31, 2025 was derived from the audited consolidated balance sheet at such date. The accompanying unaudited condensed consolidated financial statements and notes have been prepared in accordance with the rules and regulations promulgated by the SEC and consequently do not include all of the disclosures normally required by United States generally accepted accounting principles (“GAAP”).

The results of operations for interim periods are not necessarily indicative of results for the full year, due in part to the seasonal nature of our business. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements, including the related notes thereto, in our Annual Report on Form 10-K for the year ended December 31, 2025.

The condensed consolidated financial statements include the accounts of Insight Enterprises, Inc. and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements. Additionally, these estimates and assumptions affect the reported amounts of net sales and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, we evaluate our estimates, including those related to sales recognition, anticipated achievement levels under partner funding programs, assumptions related to stock-based compensation valuation, allowances for doubtful accounts and contract assets, valuation of inventories, valuation of acquired intangible assets, litigation-related obligations, valuation allowances for deferred tax assets and impairment of long-lived assets, including purchased intangibles and goodwill, if indicators of potential impairment exist.

Recently Issued Accounting Standards

In November 2024, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)". The standard requires public business entities to disclose detailed information

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INSIGHT ENTERPRISES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

about specific types of expenses that are relevant to certain line items on the income statement. The guidance is effective for annual periods beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027. The requirements can be applied prospectively with the option for retrospective application, and early adoption is permitted. The Company is currently evaluating the impact the adoption of this standard will have on its condensed consolidated financial statements.

In September 2025, the FASB issued ASU No. 2025‑06, Intangibles—Goodwill and Other—Internal‑Use Software (Subtopic 350‑40): Targeted Improvements to the Accounting for Internal‑Use Software. The standard modernizes the accounting guidance for internal‑use software costs by eliminating references to software development project stages and introducing a principles‑based capitalization model. Under the updated guidance, entities begin capitalizing internal‑use software costs when management has authorized and committed funding for the project and it is probable that the software will be completed and placed into service for its intended use. The guidance is effective for fiscal years beginning after December 15, 2027 and interim reporting periods within those fiscal years. Early adoption is permitted, and the guidance may be applied prospectively, retrospectively, or using a modified retrospective approach. The Company is currently evaluating the impact the adoption of this standard will have on its condensed consolidated financial statements.

2. Receivables, Contract Assets, Contract Liabilities and Performance Obligations

Contract Balances

The following table provides information about receivables, contract assets and contract liabilities as of June 30, 2026 and December 31, 2025 (in thousands):


	June 30, 2026		December 31, 2025
Current receivables, which are included in “Accounts receivable, net”	$	7,815,930	$	5,516,984
Contract assets, net	58,589		65,745
Long-term accounts receivable, net	699,011		763,923
Long-term contract assets, net	40,901		53,176
Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities”	153,133		152,910

Significant changes in the gross contract assets balances during the six months ended June 30, 2026 are as follows (in thousands):


	Contract Assets
Balances at December 31, 2025	$	126,228

Reclassification of beginning contract assets to receivables, as a result of rights to consideration becoming unconditional	(36,195)
Contract assets recognized, net of reclassification to receivables	14,519
Balances at June 30, 2026	$	104,552

Contract assets consist of amounts the Company is entitled to for the resale of third-party consumption-based services, prior to payment becoming unconditional. In these transactions, the Company invoices clients for the gross amount of consideration it is responsible to collect, including amounts ultimately passed on to the third-party service providers. As of June 30, 2026, contract assets, net of allowances, were $99,490,000.

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INSIGHT ENTERPRISES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

Gross contract assets by our internal risk ratings as of June 30, 2026 are summarized as follows (in thousands):


	Contract Assets
Low risk	$	31,321
Moderate risk	52,292
High risk	20,939
Total contract assets	$	104,552

Changes in the contract liabilities balances during the six months ended June 30, 2026 are as follows (in thousands):


	Contract Liabilities
Balances at December 31, 2025	$	152,910
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied	(90,561)
Cash received in advance and not recognized as revenue	90,784
Balances at June 30, 2026	$	153,133

During the six months ended June 30, 2025, the Company recognized revenue of $54,920,000 related to its contract liabilities.

Transaction price allocated to the remaining performance obligations

The following table includes estimated net sales related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 30, 2026 that are expected to be recognized in the future (in thousands):


	Services
Remainder of 2026	$	108,132
2027	113,537
2028	54,042
2029 and thereafter	28,311
Total remaining performance obligations	$	304,022

With the exception of remaining performance obligations associated with our OneCall Support Services contracts which are included in the table above regardless of original duration, the remaining performance obligations that have original expected durations of one year or less are not included in the table above. Certain contracts are cancellable for convenience and are effectively month-to-month. These contracts are excluded from the total remaining performance obligation disclosure under the practical expedient for contracts with an original expected duration of one year or less. Additionally, for our time and material services contracts, including disposal service arrangements, whereby we have the right to consideration from a client in an amount that corresponds directly with the value to the client of our performance completed to date, we recognized revenue in the amount to which we have a right to invoice as of June 30, 2026 and do not disclose information about related remaining performance obligations in the table above.

3. Assets Held for Sale

During the six months ended June 30, 2025, our property in Santa Monica, California met the criteria to be classified as held for sale, within other current assets, and the carrying value of the property was determined to be greater than its estimated fair value less costs to sell. Accordingly, the Company recorded a loss on impairment of a long lived real estate asset of $12,588,000, within selling and administrative expenses.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

During the three months ended June 30, 2026, the property was sold for $7,990,000 and an additional impairment charge of $664,000 was recorded at the time of sale. During the six months ended June 30, 2026, total impairment charges of $2,033,000 were recorded, resulting in cumulative impairment charges of $14,621,000 for the property.

4. Net Earnings Per Share

Basic earnings per share ("EPS") is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted EPS is computed on the basis of the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding restricted stock units (“RSUs”) and certain shares underlying our previously outstanding 0.75% Convertible Senior Notes due 2025 (the "Convertible Notes") and the warrants (the "Warrants") relating to the Call Spread Transactions (as defined in Note 5), as applicable. A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator:
Net earnings	$	77,569	$	46,932	$	107,578	$	54,446
Denominator:
Weighted average shares used to compute basic EPS	30,032		31,780		30,410		31,809
Dilutive potential common shares due to dilutive RSUs, net of tax effect	142		51		105		114
Dilutive potential common shares due to the Convertible Notes	—		—		—		865
Dilutive potential common shares due to the Warrants	—		290		—		614
Weighted average shares used to compute diluted EPS	30,174		32,121		30,515		33,402
Net earnings per share:
Basic	$	2.58	$	1.48	$	3.54	$	1.71
Diluted	$	2.57	$	1.46	$	3.53	$	1.63

For the three and six months ended June 30, 2026, approximately 123,000 and 205,000, respectively, of our RSUs were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive. For the three and six months ended June 30, 2025, approximately 212,000 and 135,000, respectively, of our RSUs were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive. These share-based awards could be dilutive in future periods.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

5. Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations

Debt

Our long-term debt consists of the following (in thousands):


	June 30, 2026		December 31, 2025
ABL revolving credit facility	$	981,733	$	868,209
Senior unsecured notes due 2032	493,356		493,085

Other financing obligations	—		41
Total	1,475,089		1,361,335
Less: current portion of long-term debt	—		(8)
Long-term debt	$	1,475,089	$	1,361,327

On May 28, 2026, we entered into the Seventh Amendment to the Credit Agreement (as amended, the "credit agreement") to modify our ABL facility. The amendment, among other things, added a $100 million swingline sub-facility. The ABL facility has a maximum borrowing capacity of $2,000,000,000, including a maximum borrowing capacity of $350,000,000 available for borrowings by certain foreign subsidiaries. The facility matures on December 19, 2030. From time to time and at our option, we may request to increase the aggregate amount available for borrowing under the ABL facility by up to an aggregate of the U.S. dollar equivalent of $750,000,000, subject to customary conditions, including receipt of commitments from lenders. The ABL facility is guaranteed by certain of our material subsidiaries and is secured by a lien on certain of our assets and certain of each other borrower’s and each guarantor’s assets. The ABL facility provides for an uncommitted first-in, last-out revolving facility in an aggregate amount of up to $100,000,000. As of June 30, 2026, eligible accounts receivable and inventory permitted availability to the full $2,000,000,000 facility amount, inclusive of the swingline sub-facility, of which $981,733,000 was outstanding.

The ABL facility contains customary affirmative and negative covenants and events of default. If a default occurs (subject to customary grace periods and materiality thresholds) under the credit agreement, certain actions may be taken, including, but not limited to, possible termination of commitments and required payment of all outstanding principal amounts plus accrued interest and fees payable under the credit agreement. As of June 30, 2026, no such events have occurred.

Senior Unsecured Notes due 2032

On May 20, 2024, we issued $500,000,000 aggregate principal amount of 6.625% Senior Notes due 2032 (the "Senior Notes") that mature on May 15, 2032. The Senior Notes are senior unsecured obligations of the Company and guaranteed by each of the Company's existing and future direct and indirect U.S. subsidiaries that is or becomes a guarantor or borrower under the ABL facility, subject to certain exceptions. The net proceeds from the offering were used to repay a portion of the outstanding borrowings under the ABL facility. The Senior Notes were issued pursuant to an indenture (the "Senior Notes Indenture") containing certain covenants that limit the Company's ability to, subject to certain exceptions, create, incur, or assume liens to secure debt, among other things. The Senior Notes bear interest at an annual rate of 6.625% payable semiannually, in arrears, on May 15th and November 15th of each year beginning on November 15, 2024.

The Company may redeem the Senior Notes prior to May 15, 2027, with an amount equal to the net cash proceeds received by the Company from certain equity offerings at a redemption price equal to 106.625% of the principal amount of such notes, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, in an aggregate principal amount for all such redemptions not to exceed 40% of the aggregate principal amount of the Senior Notes. The Senior Notes are subject to redemption at specified prices on or after May 15, 2027 plus accrued and unpaid interest, if any, on such notes redeemed, to, but excluding, the applicable redemption date. In addition, at any time prior to May 15, 2027, the Company may, on one or more occasions, redeem the

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

Senior Notes in whole or in part, at its option, upon notice, at a redemption price equal to 100% of the principal amount of such notes plus a “make-whole” premium as specified in the Senior Notes Indenture and accrued and unpaid interest, if any, to, but excluding, the redemption date.

If the Company experiences certain change of control events, together with a ratings decline, as described in the Senior Notes Indenture, the Company will be required to make an offer to repurchase some or all of the Senior Notes at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date.

The Senior Notes are subject to certain customary events of default and acceleration clauses. As of June 30, 2026, no such events have occurred.

The Senior Notes consist of the following balances reported within the condensed consolidated balance sheets (in thousands):


	June 30, 2026		December 31, 2025
Liability:
Principal	$	500,000	$	500,000
Less: debt issuance costs, net of accumulated accretion	(6,644)		(6,915)
Net carrying amount	$	493,356	$	493,085

Convertible Senior Notes due 2025

In August 2019, we issued $350,000,000 aggregate principal amount of the Convertible Notes that matured on February 15, 2025. The Convertible Notes bore interest at an annual rate of 0.75% payable semiannually, in arrears, on February 15th and August 15th of each year. The Convertible Notes were general unsecured obligations of Insight and were guaranteed on a senior unsecured basis by Insight Direct USA, Inc., a wholly owned subsidiary of Insight.

Upon maturity, the significant majority of Convertible Note holders elected to convert their notes. As a result, the aggregate principal amount of $333,091,000 was settled in cash with the additional amounts due as a result of conversion being settled in shares of our common stock. The conversion rate was 14.6376 shares of common stock per $1,000 principal amount of the Convertible Notes (equivalent to the initial conversion price of approximately $68.32 per share of common stock). We issued 2,832,627 shares upon conversion.

The Convertible Notes were reflected in the condensed consolidated balance sheets prior to their maturity. The effective interest rate on the principal of the Convertible Notes was 0.75%. Interest expense recognized for the six months ended June 30, 2025 consisted of contractual coupon interest and amortization of debt issuance costs and was included in the condensed consolidated statement of operations.

Convertible Note Hedge and Warrant Transaction

In connection and concurrent with the issuance of the Convertible Notes, we entered into certain convertible note hedge and warrant transactions (the "Call Spread Transactions") with respect to the Company’s common stock.

The convertible note hedge consisted of an option to purchase up to 5,123,160 common stock shares at a price of $68.32 per share. On February 15, 2025, we executed the convertible note hedge upon the conversion of the Convertible Notes discussed above. Upon execution, we received 2,833,276 shares of common stock, which we used to meet our obligation under the Convertible Notes to issue shares of common stock upon conversion.

Additionally, we sold Warrants to purchase 5,123,160 shares of common stock at a price of $103.12 per share as part of the Call Spread Transactions. The Warrants expired on May 15, 2025 and could not be exercised

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

prior to maturity. The Company received aggregate proceeds of approximately $34,440,000 in 2019 for the sale of the Warrants.

On January 6, 2025, we entered into an agreement to settle 2,049,264 of the total 5,123,160 Warrants. These Warrants were settled entirely in cash for $138,892,000 on February 27, 2025. We recorded a liability of approximately $112,590,000 to accrued expenses and other current liabilities upon execution of the agreement. The change in the fair value of the settlement liability through the settlement date of $26,301,000 was recognized in net income.

On February 25, 2025, we entered into an agreement to settle an additional 1,536,948 of the remaining Warrants. These Warrants were settled entirely in cash for $83,072,000 on April 2, 2025. We recorded a liability of approximately $84,304,000 to accrued expenses and other current liabilities upon execution of the agreement. The change in the fair value of the settlement liability through the settlement date of $1,233,000 was recognized in net income.

During 2025, the remaining 1,536,948 Warrants were either settled or expired with no value. We issued an aggregate of 215,324 shares of our common stock to settle the remaining Warrants. As a result, there were no outstanding Warrants as of December 31, 2025 or June 30, 2026.

The Call Spread Transactions had no effect on the terms of the Convertible Notes and reduced potential dilution by effectively increasing the initial conversion price of the Convertible Notes to $103.12 per share of the Company’s common stock.

Inventory Financing Facilities

We have maximum availability under our unsecured inventory financing facility with MUFG Bank Ltd (“MUFG”) of $280,000,000. As of June 30, 2026, we have maximum availability under our unsecured inventory financing facility with PNC Bank, N.A. (“PNC”) of $425,000,000, including a $50,000,000 facility in Canada (the "Canada facility"). We also have maximum availability under our unsecured inventory financing facility with Wells Fargo in EMEA (the "EMEA facility") of $50,000,000. As of June 30, 2026, our combined inventory financing facilities had a total maximum capacity of $755,000,000, of which $266,636,000 was outstanding.

The inventory financing facilities will remain in effect until they are terminated by any of the parties. If balances are not paid within stated vendor terms (typically 60 days), they will accrue interest at prime plus 2.00% on the MUFG facility, Canadian Overnight Repo Rate Average plus 4.50% on the Canada facility and Term SOFR, EURIBOR, or SONIA, as applicable, plus 4.50% and 0.25% on the PNC (other than the Canada facility) and EMEA facilities, respectively. Amounts outstanding under these facilities are classified separately as accounts payable – inventory financing facilities in the accompanying condensed consolidated balance sheets and within cash flows from financing activities in the accompanying condensed consolidated statements of cash flows. We impute interest on the average daily balance outstanding during these stated vendor terms based on our incremental borrowing rate during the period.

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INSIGHT ENTERPRISES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

6. Income Taxes

Our effective tax rates were 27.0% and 31.0% for the three and six months ended June 30, 2026, respectively, compared to the U.S. federal statutory rate of 21.0%. The higher effective tax rates were due primarily to state income taxes and higher taxes on earnings in foreign jurisdictions. The six-month period was further impacted by the non-deductibility of losses from the revaluation of earnout liabilities, and tax shortfalls on share-based compensation.

Our effective tax rates for the three and six months ended June 30, 2025 were 26.9% and 34.5%, respectively, compared to the U.S. federal statutory rate of 21.0%. The higher effective tax rate for the three-month period was due primarily to state income taxes and higher taxes on earnings in foreign jurisdictions, partially offset by research and development tax benefits. The higher rate for the six-month period was due primarily to the non-deductibility of losses related to the warrant fair value adjustments and the revaluation of earnout liabilities, partially offset by a valuation allowance reduction on foreign tax credit carryforwards.

As of June 30, 2026 and December 31, 2025, we had approximately $15,035,000 and $13,272,000, respectively, of unrecognized tax benefits. Of these amounts, approximately $2,303,000 and $1,667,000, respectively, related to accrued interest. In the future, if recognized, the liability associated with uncertain tax positions could affect our effective tax rate.

7. Share Repurchase Program

On December 19, 2025, we announced that our Board of Directors authorized the repurchase of up to $299,000,000 of our common stock, including amounts that remained from prior authorizations. As of June 30, 2026, approximately $149,000,000 remained available for repurchases under our share repurchase program. Our share repurchases may be made on the open market, subject to Rule 10b-18 or in privately negotiated transactions, through block trades, through 10b5-1 plans or otherwise, at management’s discretion. The number of shares purchased and the timing of the purchases will be based on market conditions, working capital requirements, general business conditions and other factors. We intend to retire the repurchased shares.

During the three months ended June 30, 2026, we repurchased 710,276 shares of our common stock on the open market at a total cost of approximately $75,000,000 (an average price of $105.59 per share). During the three months ended June 30, 2025, we repurchased 600,000 shares of our common stock in a private transaction from ValueAct Capital, a former affiliate, at a total cost of $76,118,000 (an average price of $126.86 per share, representing a negotiated 3.95% discount from the closing price of our common stock the day prior to the transaction).

During the six months ended June 30, 2026, we repurchased 1,609,837 shares of our common stock on the open market at a total cost of approximately $149,999,795 (an average price of $93.18 per share). During the six months ended June 30, 2025, we repurchased 600,000 shares of our common stock in a private transaction from ValueAct Capital, a former affiliate, at a total cost of $76,118,000 (an average price of $126.86 per share, representing a negotiated 3.95% discount from the closing price of our common stock the day prior to the transaction). All shares repurchased during the six months ended June 30, 2026 and 2025 were retired.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

8. Commitments and Contingencies

Contractual

In the ordinary course of business, we issue performance bonds to secure our performance under certain contracts or state tax requirements. As of June 30, 2026, we had approximately $38,337,000 of performance bonds outstanding. These bonds are issued on our behalf by a surety company on an unsecured basis; however, if the surety company is ever required to pay out under the bonds, we have contractually agreed to reimburse the surety company.

Management believes that payments, if any, related to these performance bonds are not probable at June 30, 2026. Accordingly, we have not accrued any liabilities related to such performance bonds in our condensed consolidated financial statements.

The Company has a minimum required purchase commitment of approximately $100,467,000 pursuant to an agreement primarily related to cloud services. The total purchase commitment is required to be met or exceeded during a 5-year period, starting October 1, 2023 through September 30, 2028. At June 30, 2026, we had a remaining purchase commitment of $47,274,000. If total purchases do not meet the required commitment by September 30, 2028, the shortfall must be prepaid by the Company and can be used for further purchases through September 30, 2029.

The Company has a minimum required purchase commitment of approximately $40,000,000 pursuant to an agreement primarily related to software as a service. The total purchase commitment was required to be met during a 4-year period, starting November 30, 2022 through November 29, 2026. If total purchases did not meet the required commitment by November 29, 2026, the Company could extend the term of the commitment through November 29, 2027. During this extended period, any credit balance would remain available for payment against the usage of the subscribed products. As of June 30, 2026, the Company has satisfied the minimum purchase commitment under this agreement and has no remaining purchase commitment outstanding.

As of June 30, 2026, the Company has recorded a contingent liability of approximately $28,826,000, payable to a partner to settle various contractual commitments to resell a minimum amount of cloud services to clients.

Employment Contracts and Severance Plans

We have employment contracts with, and severance plans covering, certain officers and management teammates under which severance payments would become payable in the event of specified terminations without cause or terminations under certain circumstances after a change in control. In addition, vesting of outstanding nonvested RSUs would accelerate following a change in control. If severance payments under the current employment agreements or plan payments were to become payable, the severance payments would generally range from three to twenty-four months of salary.

Indemnifications

From time to time, in the ordinary course of business, we enter into contractual arrangements under which we agree to indemnify either our clients or third-party service providers from certain losses incurred relating to services performed on our behalf or for losses arising from defined events, which may include litigation or claims relating to past performance. These arrangements include, but are not limited to, the indemnification of our clients for certain claims arising out of our performance under our sales contracts, the indemnification of our landlords for certain claims arising from our use of leased facilities and the indemnification of the lenders that provide our credit facilities for certain claims arising from their extension of credit to us. Such indemnification obligations may not be subject to maximum loss clauses.

Management believes that payments, if any, related to these indemnifications are not probable at June 30, 2026. Accordingly, we have not accrued any liabilities related to such indemnifications in our condensed consolidated financial statements.

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INSIGHT ENTERPRISES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

We have entered into separate indemnification agreements with certain of our executive officers and with each of our directors. These agreements require us, among other requirements, to indemnify such officers and directors against expenses (including attorneys’ fees), judgments and settlements incurred by such individual in connection with any action arising out of such individual’s status or service as our executive officer or director (subject to exceptions such as where the individual failed to act in good faith or in a manner the individual reasonably believed to be in, or not opposed to, the best interests of the Company) and to advance expenses incurred by such individual with respect to which such individual may be entitled to indemnification by us. There are no pending legal proceedings that involve the indemnification of any of the Company’s directors or officers.

Contingencies Related to Third-Party Review

From time to time, we are subject to potential claims and assessments from third parties. We are also subject to various governmental, client and partner audits. We continually assess whether or not such claims have merit and warrant accrual. Where appropriate, we accrue estimates of anticipated liabilities in our condensed consolidated financial statements. Such estimates are subject to change and may affect our results of operations and our cash flows.

Legal Proceedings

From time to time, we are party to various legal proceedings incidental to the business, including preference payment claims asserted in client bankruptcy proceedings, indemnification claims, claims of alleged infringement of patents, trademarks, copyrights and other intellectual property rights, employment claims, claims related to services provided, interruptions, or outages, claims of alleged non-compliance with contract provisions and claims related to alleged violations of laws and regulations. We regularly evaluate the status of the legal proceedings in which we are involved to assess whether a loss is probable or there is a reasonable possibility that a loss, or an additional loss, may have been incurred and determine if accruals are required. If accruals are not required, we further evaluate each legal proceeding to assess whether an estimate of possible loss or range of possible loss can be made. Although litigation is inherently unpredictable, we believe that we have adequate provisions for any probable and estimable losses. It is possible, nevertheless, that our condensed consolidated financial position, results of operations or liquidity could be materially and adversely affected in any particular period by the work required pursuant to any legal proceedings or the resolution of any legal proceedings during such period. Legal expenses related to defense of any legal proceeding or the negotiations, settlements, rulings and advice of outside legal counsel in connection with any legal proceedings are expensed as incurred.

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INSIGHT ENTERPRISES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

9. Segment Information

We operate in three reportable geographic operating segments: North America; EMEA; and APAC. Our offerings in North America and certain countries in EMEA and APAC include IT hardware, software and services, including cloud solutions. Our offerings in the remainder of our EMEA and APAC segments consist largely of software and certain software-related services and cloud solutions.

In the following table, revenue is disaggregated by our reportable operating segments, which are primarily defined by their related geographies, as well as by major product offering, by major client group and by recognition on either a gross basis as a principal in the arrangement, or on a net basis as an agent, for the three and six months ended June 30, 2026 and 2025 (in thousands):


	Three Months Ended June 30, 2026
	North America		EMEA		APAC		Consolidated
Major Offerings
Hardware	$	1,292,384	$	129,729	$	16,172	$	1,438,285
Software	278,067		144,707		24,550		447,324
Services	368,212		100,758		44,918		513,888
	$	1,938,663	$	375,194	$	85,640	$	2,399,497
Major Client Groups
Large Enterprise / Corporate	$	1,321,570	$	292,853	$	34,338	$	1,648,761
Commercial	424,641		4,867		23,993		453,501
Public Sector	192,452		77,474		27,309		297,235
	$	1,938,663	$	375,194	$	85,640	$	2,399,497
Revenue Recognition based on acting as Principal or Agent in the Transaction
Gross revenue recognition (Principal)	$	1,772,737	$	316,903	$	67,985	$	2,157,625
Net revenue recognition (Agent)	165,926		58,291		17,655		241,872
	$	1,938,663	$	375,194	$	85,640	$	2,399,497

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)


	Three Months Ended June 30, 2025
	North America		EMEA		APAC		Consolidated
Major Offerings
Hardware	$	1,073,904	$	108,450	$	8,677	$	1,191,031
Software	300,708		151,880		21,671		474,259
Services	309,692		88,284		28,216		426,192
	$	1,684,304	$	348,614	$	58,564	$	2,091,482
Major Client Groups
Large Enterprise / Corporate	$	1,131,846	$	255,107	$	22,128	$	1,409,081
Commercial	390,934		5,460		19,175		415,569
Public Sector	161,524		88,047		17,261		266,832
	$	1,684,304	$	348,614	$	58,564	$	2,091,482
Revenue Recognition based on acting as Principal or Agent in the Transaction
Gross revenue recognition (Principal)	$	1,547,975	$	303,028	$	49,428	$	1,900,431
Net revenue recognition (Agent)	136,329		45,586		9,136		191,051
	$	1,684,304	$	348,614	$	58,564	$	2,091,482


	Six Months Ended June 30, 2026
	North America		EMEA		APAC		Consolidated
Major Offerings
Hardware	$	2,356,054	$	273,207	$	29,241	$	2,658,502
Software	563,414		283,184		47,055		893,653
Services	702,000		191,654		81,674		975,328
	$	3,621,468	$	748,045	$	157,970	$	4,527,483
Major Client Groups
Large Enterprise / Corporate	$	2,440,076	$	589,171	$	63,521	$	3,092,768
Commercial	827,191		13,648		48,286		889,125
Public Sector	354,201		145,226		46,163		545,590
	$	3,621,468	$	748,045	$	157,970	$	4,527,483
Revenue Recognition based on acting as Principal or Agent in the Transaction
Gross revenue recognition (Principal)	$	3,308,142	$	642,844	$	125,918	$	4,076,904
Net revenue recognition (Agent)	313,326		105,201		32,052		450,579
	$	3,621,468	$	748,045	$	157,970	$	4,527,483

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INSIGHT ENTERPRISES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)


	Six Months Ended June 30, 2025
	North America		EMEA		APAC		Consolidated
Major Offerings
Hardware	$	2,080,198	$	237,314	$	15,035	$	2,332,547
Software	697,441		290,176		52,926		1,040,543
Services	607,308		163,952		50,688		821,948
	$	3,384,947	$	691,442	$	118,649	$	4,195,038
Major Client Groups
Large Enterprise / Corporate	$	2,292,428	$	507,333	$	41,721	$	2,841,482
Commercial	784,147		17,597		37,895		839,639
Public Sector	308,372		166,512		39,033		513,917
	$	3,384,947	$	691,442	$	118,649	$	4,195,038
Revenue Recognition based on acting as Principal or Agent in the Transaction
Gross revenue recognition (Principal)	$	3,121,025	$	611,013	$	102,042	$	3,834,080
Net revenue recognition (Agent)	263,922		80,429		16,607		360,958
	$	3,384,947	$	691,442	$	118,649	$	4,195,038

The method for determining what information regarding operating segments, products and services, geographic areas of operation and major clients to report is based upon the “management approach,” or the way that management organizes the operating segments within a company, for which separate financial information is evaluated regularly by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources. Our CODM is our Chief Executive Officer. Effective as of April 13, 2026, Jack Azagury serves as our Chief Executive Officer.

All significant intercompany transactions are eliminated upon consolidation, and there are no differences between the accounting policies used to measure profit and loss for our segments or on a consolidated basis. Net sales are defined as net sales to external clients. None of our clients exceeded ten percent of consolidated net sales for the three or six months ended June 30, 2026 or 2025.

A portion of our operating segments’ selling and administrative expenses arise from shared services and infrastructure that we have historically provided to them in order to realize economies of scale and to use resources efficiently. These expenses, collectively identified as corporate charges, include senior management expenses, internal audit, legal, tax, insurance services, treasury and other corporate infrastructure expenses. Charges are allocated to our operating segments, and the allocations have been determined on a basis that we considered to be a reasonable reflection of the utilization of services provided to or benefits received by the operating segments.

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INSIGHT ENTERPRISES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

The following tables present our results of operations by reportable operating segment for the periods indicated (in thousands):


	Three Months Ended June 30, 2026
	North America		EMEA		APAC		Consolidated
Net sales:
Hardware	$	1,292,384	$	129,729	$	16,172	$	1,438,285
Software	278,067		144,707		24,550		447,324
Services	368,212		100,758		44,918		513,888
Total net sales	1,938,663		375,194		85,640		2,399,497
Costs of goods sold:
Hardware	1,140,513		114,302		14,088		1,268,903
Software	261,874		138,794		22,669		423,337
Services	138,569		28,672		18,414		185,655
Total costs of goods sold	1,540,956		281,768		55,171		1,877,895
Gross Profit:
Hardware	151,871		15,427		2,084		169,382
Software	16,193		5,913		1,881		23,987
Services	229,643		72,086		26,504		328,233
Gross profit	397,707		93,426		30,469		521,602
Operating expenses:
Significant selling and administrative expenses	248,653		72,844		19,474		340,971

Adjusted earnings from operations	$	149,054	$	20,582	$	10,995	$	180,631

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INSIGHT ENTERPRISES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)


	Three Months Ended June 30, 2025
	North America		EMEA		APAC		Consolidated
Net sales:
Hardware	$	1,073,904	$	108,450	$	8,677	$	1,191,031
Software	300,708		151,880		21,671		474,259
Services	309,692		88,284		28,216		426,192
Total net sales	1,684,304		348,614		58,564		2,091,482
Costs of goods sold:
Hardware	936,777		92,819		7,453		1,037,049
Software	281,084		143,132		19,512		443,728
Services	124,751		30,229		13,398		168,378
Total costs of goods sold	1,342,612		266,180		40,363		1,649,155
Gross Profit:
Hardware	137,127		15,631		1,224		153,982
Software	19,624		8,748		2,159		30,531
Services	184,941		58,055		14,818		257,814
Gross profit	341,692		82,434		18,201		442,327
Operating expenses:
Significant selling and administrative expenses	231,735		61,443		11,124		304,302

Adjusted earnings from operations	$	109,957	$	20,991	$	7,077	$	138,025


	Six Months Ended June 30, 2026
	North America		EMEA		APAC		Consolidated
Net sales:
Hardware	$	2,356,054	$	273,207	$	29,241	$	2,658,502
Software	563,414		283,184		47,055		893,653
Services	702,000		191,654		81,674		975,328
Total net sales	3,621,468		748,045		157,970		4,527,483
Costs of goods sold:
Hardware	2,072,781		239,233		25,909		2,337,923
Software	527,526		270,250		44,185		841,961
Services	270,128		58,333		35,385		363,846
Total costs of goods sold	2,870,435		567,816		105,479		3,543,730
Gross Profit:
Hardware	283,273		33,974		3,332		320,579
Software	35,888		12,934		2,870		51,692
Services	431,872		133,321		46,289		611,482
Gross profit	751,033		180,229		52,491		983,753
Operating expenses:
Significant selling and administrative expenses	479,580		144,885		37,509		661,974

Adjusted earnings from operations	$	271,453	$	35,344	$	14,982	$	321,779

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INSIGHT ENTERPRISES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)


	Six Months Ended June 30, 2025
	North America		EMEA		APAC		Consolidated
Net sales:
Hardware	$	2,080,198	$	237,314	$	15,035	$	2,332,547
Software	697,441		290,176		52,926		1,040,543
Services	607,308		163,952		50,688		821,948
Total net sales	3,384,947		691,442		118,649		4,195,038
Costs of goods sold:
Hardware	1,813,660		204,859		13,049		2,031,568
Software	658,516		274,068		48,451		981,035
Services	251,627		58,154		23,850		333,631
Total costs of goods sold	2,723,803		537,081		85,350		3,346,234
Gross Profit:
Hardware	266,538		32,455		1,986		300,979
Software	38,925		16,108		4,475		59,508
Services	355,681		105,798		26,838		488,317
Gross profit	661,144		154,361		33,299		848,804
Operating expenses:
Significant selling and administrative expenses	457,327		120,771		21,482		599,580

Adjusted earnings from operations	$	203,817	$	33,590	$	11,817	$	249,224

Our CODM uses Adjusted earnings from operations ("Adjusted EFO") when assessing the performance of and deciding how to allocate resources to the operating segments. For example, Adjusted EFO is a basis for executive variable compensation. Significant selling and administrative expenses primarily reflect personnel costs, including teammate benefits. Effective in the first quarter of 2026, we transitioned to an updated definition of Adjusted EFO that also excludes stock‑based compensation expense in order to improve comparability across companies. Prior period segment information has been recast to conform to the current period presentation. Adjusted EFO excludes amortization of intangible assets, severance and restructuring expenses, acquisition and integration related expenses, stock-based compensation expense and certain other expenses. These other expenses include transformation costs, revaluation of earnout liabilities and other non-significant expenses. Our CODM uses comparisons of actual Adjusted EFO against budgets, forecasts and prior periods as a basis for assessing current period segment performance as well as for determining necessary resources to assign, including for determining necessary investments or reductions in resources.

The following is a summary of our total assets by reportable operating segment (in thousands):


	June 30, 2026		December 31, 2025
North America	$	7,046,936	$	7,018,025
EMEA	4,584,929		2,528,292
APAC	537,306		412,016
Corporate assets and intercompany eliminations, net	(775,421)		(870,961)
Total assets	$	11,393,750	$	9,087,372

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INSIGHT ENTERPRISES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

We recorded the following pre-tax amounts, by reportable operating segment, for depreciation and amortization in the accompanying condensed consolidated financial statements (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Depreciation and amortization of property and equipment:
North America	$	6,412	$	6,099	$	12,485	$	12,376
EMEA	1,079		1,063		2,115		1,920
APAC	319		102		629		199
	7,810		7,264		15,229		14,495
Amortization of intangible assets:
North America	18,654		16,817		37,298		33,621
EMEA	1,803		1,851		3,616		3,595
APAC	588		—		1,190		—
	21,045		18,668		42,104		37,216
Total	$	28,855	$	25,932	$	57,333	$	51,711

10. Acquisition

Sekuro

Effective October 31, 2025, we acquired 100 percent of the issued and outstanding shares of Sekuro Limited ("Sekuro") for a preliminary cash purchase price of approximately $80,165,000, net of cash, cash equivalents, and restricted cash acquired of $3,822,000, which is comprised of the initial purchase price of $85,347,000 paid in cash upon the acquisition, partially offset by the contractual adjustments to the purchase price of $1,360,000. The total purchase price also includes the estimated fair value of earn out payments of approximately $11,439,000, which provide an incentive opportunity for the sellers to earn up to AUD122,500,000, contingent upon Sekuro achieving certain EBITDA and net revenue performance targets through October 2027. The AUD122,500,000 includes up to AUD42,500,000 available to the sellers for over achievement against EBITDA and net revenue performance targets. Sekuro is a global cybersecurity and digital resilience provider that offers end-to-end security services for enterprises and governments. We believe the acquisition positions us to better meet the growing demand for comprehensive security solutions in an increasingly complex threat landscape.

The preliminary fair value of net assets acquired was approximately $17,459,000, including approximately $21,431,000 of identifiable intangible assets, consisting primarily of customer relationships of $20,379,000 that will be amortized using the straight-line method over the estimated economic life of ten years. As these intangible assets are not tax deductible, we recognized a related deferred tax liability of approximately $6,429,000. The preliminary purchase price was allocated using the information currently available. Further information obtained upon the finalization of the fair value assumptions for identifiable intangible assets acquired and final assessments of various other assets and liabilities could lead to an adjustment of the purchase price allocation. Goodwill acquired approximated $74,145,000, which was recorded in our APAC operating segment. None of the goodwill recognized is expected to be deductible for income tax purposes.

We consolidated the results of operations for Sekuro within our APAC operating segment since its acquisition on October 31, 2025. Our historical results would not have been materially affected by the acquisition of Sekuro and, accordingly, we have not presented pro forma information as if the acquisition had been completed at the beginning of each period presented in our consolidated statement of operations.

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INSIGHT ENTERPRISES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

We recognized net losses of $492,000 and $4,499,000 within selling and administrative expenses due to the net changes in the estimated fair value of the earnout payments for the three and six months ended June 30, 2026, respectively.

Inspire11

Effective October 1, 2025, we acquired 100 percent of the issued and outstanding equity of Inspire11 LLC ("Inspire11") for a cash purchase price of approximately $209,822,000, net of cash and cash equivalents acquired of $1,413,000, which is comprised of the initial purchase price of $205,171,000 paid in cash upon the acquisition, and a seller retention fund of $6,300,000 and other costs of $160,000 payable post-closing, partially offset by the contractual adjustments to the purchase price of $351,000 and settlement of pre-existing relationship of $45,000. The total purchase price also includes the estimated fair value of earn out payments of approximately $37,790,000, which provide an incentive opportunity for the sellers to earn up to $66,000,000, contingent upon Inspire11 achieving certain EBITDA performance targets through September 2027. Inspire11 is an award-winning technology delivery firm with deep advisory, data, and AI expertise. We believe this acquisition strengthens our capabilities as a leading solutions integrator through the integration of proven AI delivery accelerators, deep data and analytics expertise, and a results-driven methodology to convert AI initiatives into tangible business value and transformative growth.

The preliminary fair value of net assets acquired was approximately $59,146,000, including approximately $50,800,000 of identifiable intangible assets, consisting primarily of customer relationships of $28,000,000 and non-compete agreements of $21,300,000. The preliminary purchase price was allocated using the information currently available. Further information obtained upon the finalization of the fair value assumptions for identifiable intangible assets acquired and various accrued expense balance assessments, including tax related liabilities, could lead to an adjustment of the purchase price allocation. Goodwill acquired approximated $188,466,000, which was recorded in our North America operating segment. Approximately 98% of goodwill is expected to be deductible for income tax purposes.

We consolidated the results of operations for Inspire11 within our North America operating segment since its acquisition on October 1, 2025. Our historical results would not have been materially affected by the acquisition of Inspire11 and, accordingly, we have not presented pro forma information as if the acquisition had been completed at the beginning of each period presented in our consolidated statement of operations.

We recognized net losses of $420,000 and $7,040,000 within selling and administrative expenses due to the net changes in the estimated fair value of the earnout payments for the three and six months ended June 30, 2026, respectively.

Infocenter

Effective May 1, 2024, we acquired 100 percent of the issued and outstanding shares of Infocenter.io Corporation ("Infocenter") for a cash purchase price of $265,000,000, net of cash and cash equivalents acquired of $5,103,000, which is comprised of the initial purchase price of $269,477,000 paid in cash upon the acquisition and contractual adjustments to the purchase price of $626,000 paid in July 2024. The total purchase price of $289,200,000 also includes the estimated fair value of earn out payments of approximately $24,200,000, which provide an incentive opportunity for the sellers of up to $106,250,000, based on Infocenter achieving certain EBITDA performance through April 2026. Infocenter is a pure-play ServiceNow Elite Partner dedicated to automating business processes on the Now Platform®. We believe this acquisition enhances our Solutions Integrator offering framework to drive better business outcomes for our clients by enabling them to scale their multicloud environments with modern infrastructure, applications, and unified data and AI platforms.

The fair value of net assets acquired was approximately $98,084,000, including approximately $123,900,000 of identifiable intangible assets, consisting primarily of customer relationships that will be amortized using the straight-line method over the estimated economic life of ten years. As these intangible assets are not tax deductible, we recognized a related deferred tax liability of approximately $31,832,000. We finalized the purchase price allocation in relation to this acquisition in the second quarter of 2025, with no material changes

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INSIGHT ENTERPRISES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

to our preliminary estimates. Goodwill acquired approximated $191,116,000, which was recorded in our North America operating segment. None of the goodwill recognized is expected to be deductible for income tax purposes.

We consolidated the results of operations for Infocenter within our North America operating segment since its acquisition on May 1, 2024. Our historical results would not have been materially affected by the acquisition of Infocenter and, accordingly, we have not presented pro forma information as if the acquisition had been completed at the beginning of each period presented in our consolidated statement of operations.

We recognized net changes in the estimated fair value of earnout payments within selling and administrative expenses, resulting in net losses of $504,000 and $15,170,000 for the three months and six months ended June 30, 2026, respectively, and a net gain of $3,298,000 and a net loss of $11,902,000 for the same periods in 2025, respectively. We paid approximately $39,602,000 for Infocenter's first earnout period on July 1, 2025, and approximately $38,470,000 for the second earnout period on July 13, 2026.

11. Derivative Financial Instruments

We use derivatives to partially offset our exposure to fluctuations in certain foreign currencies. We do not enter into derivative contracts for speculative or trading purposes. Derivatives are recorded at fair value on the balance sheet based on observable market based inputs or unobservable inputs that are corroborated by market data (Level 2) where available. Gains or losses resulting from changes in fair value of our non-hedge designated derivatives are recorded currently in income. Gains or losses resulting from changes in fair value of our hedge designated derivatives are recorded in other comprehensive income. Our foreign currency derivative instruments are not subject to any master netting arrangements with our counterparties.

We use foreign exchange forward contracts to mitigate risk associated with our net investment in foreign currency denominated operations. These forward contracts are designated as net investment hedges. In December 2025, we entered into two foreign exchange forward contracts to mitigate risk associated with our foreign operations denominated in Euros. These forward contracts, one for three years and another for five years, each have a notional value of $50,000,000. These foreign currency forward contracts are carried at fair value. Changes in the fair value of these instruments during the three and six months ended June 30, 2026 were immaterial.

We also use foreign exchange forward contracts to mitigate risk associated with certain non-functional currency assets and liabilities from fluctuations in foreign currency exchange rates. Our non-functional currency assets and liabilities are primarily related to foreign currency denominated payables, receivables, and cash balances. The foreign currency forward contracts, carried at fair value, typically have a maturity of one month or less.

12. Subsequent Event

Subsequent to June 30, 2026, the Company repurchased 193,079 shares of our common stock on the open market at a total cost of approximately 23,243,000 (an average price of $120.38 per share) under its existing repurchase authorization. Following these repurchases, approximately $125,757,000 remained available for future repurchases under the share repurchase program.

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INSIGHT ENTERPRISES, INC.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion should be read in conjunction with the condensed consolidated financial statements and the related notes that appear elsewhere in this Quarterly Report on Form 10-Q. We refer to our customers as “clients,” our suppliers as “partners” and our employees as “teammates.”

Quarterly Overview

Today, every business is a technology business. At Insight, we accelerate transformation by unlocking the power of people and technology. We turn complexity into clarity, helping our clients achieve meaningful business outcomes and drive real results at scale. We serve these clients in North America; Europe, the Middle East and Africa (“EMEA”); and Asia-Pacific (“APAC”). As a Fortune 500-ranked Solutions Integrator, we deliver secure, end-to-end digital transformation and meet the needs of our clients through a comprehensive portfolio of solutions, far-reaching partnerships and 38 years of broad IT expertise. We amplify our solutions and services with global scale, local expertise and our e-commerce experience, enabling our clients to realize their digital ambitions in multiple ways. Our offerings in North America and certain countries in EMEA and APAC include hardware, software and services, including cloud solutions. Our offerings in the remainder of our EMEA and APAC segments consist largely of software and certain software-related services and cloud solutions.

On a consolidated basis, for the three months ended June 30, 2026:

•Net sales of $2.4 billion increased 15% compared to the three months ended June 30, 2025. The increase was primarily due to increases in hardware and services net sales as well as continued net revenue recognition in instances where Insight is the agent, partially offset by a decrease in software net sales. Excluding the effects of fluctuating foreign currency exchange rates, net sales increased 14% compared to the second quarter of 2025.

•Gross profit of $521.6 million increased 18% compared to the three months ended June 30, 2025, primarily driven by increases in cloud solution offerings and Insight Delivered services. Excluding the effects of fluctuating foreign currency exchange rates, gross profit increased 17% compared to the second quarter of 2025.

•Compared to the three months ended June 30, 2025, gross margin expanded approximately 60 basis points to 21.7% of net sales in the three months ended June 30, 2026. This expansion reflects higher margin contributed by services net sales, including both cloud solution offerings and Insight Delivered services, compared to the same period in the prior year.

•Earnings from operations increased 51%, year over year, to $131.0 million in the second quarter of 2026 compared to $86.5 million in the second quarter of 2025. The net change reflects an increase in gross profit, partially offset by an increase in selling and administrative expenses. Excluding the effects of fluctuating foreign currency exchange rates, earnings from operations increased 50% year over year.

•Net earnings and diluted earnings per share were $77.6 million and $2.57, respectively, for the second quarter of 2026. This compares to net earnings of $46.9 million and diluted earnings per share of $1.46 for the second quarter of 2025. The increase in net earnings was primarily due to an increase in earnings from operations in the second quarter of 2026. Diluted earnings per share increased 76% year over year, primarily as a result of an increase in net earnings and a decrease in dilutive shares outstanding in the second quarter of 2026. Excluding the effects of fluctuating foreign currency exchange rates, diluted earnings per share increased 74% year over year.

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INSIGHT ENTERPRISES, INC.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS (continued)

In discussing financial results for the three and six months ended June 30, 2026 and 2025, the Company refers to certain financial measures that are adjusted from the financial results prepared in accordance with United States generally accepted accounting principles (“GAAP”). When referring to non-GAAP measures, the Company refers to them as “Adjusted.” See the "Use of Non-GAAP Financial Measures" section below for additional information and a reconciliation of such non-GAAP measures to the most directly comparable GAAP financial measures.

Throughout the “Quarterly Overview” and “Results of Operations” sections of this “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” we refer to changes in net sales, gross profit, selling and administrative expenses, diluted earnings per share and earnings from operations on a consolidated basis and in EMEA and APAC, as applicable, excluding the effects of fluctuating foreign currency exchange rates, which are financial measures that are adjusted from our financial results prepared in accordance with GAAP. In addition, we refer to changes in Adjusted earnings from operations in EMEA and APAC excluding the effects of fluctuating foreign currency exchange rates. These are also considered to be non-GAAP measures. We believe providing this information excluding the effects of fluctuating foreign currency exchange rates provides valuable supplemental information to investors regarding our underlying business and results of operations, consistent with how we, including our management, evaluate our performance. In computing the changes in amounts and percentages, we compare the current period amount as translated into U.S. dollars under the applicable accounting standards to the prior period amount in local currency translated into U.S. dollars utilizing the weighted average translation rate for the current period. The performance measures excluding the effects of fluctuating foreign currency exchange rates should not be considered a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP.

Details about segment results of operations can be found in Note 9 to the Condensed Consolidated Financial Statements in Part I, Item 1 of this report.

Our discussion and analysis of financial condition and results of operations is intended to assist in the understanding of our condensed consolidated financial statements, including the changes in certain key items in those condensed consolidated financial statements from period to period and the primary factors that contributed to those changes, as well as how certain critical accounting estimates affect our condensed consolidated financial statements.

Supply Chain, Demand and Inflation Update

We believe inflation contributed to sustained high interest rates on all of our variable rate borrowing facilities in the first half of 2026 consistent with the prior year. Interest rates are expected to hold steady and continue to remain higher than historical rates throughout most of 2026. We are actively monitoring changes to the global macroeconomic environment, including those impacting our supply chain, demand for our products whether due to tariffs or otherwise and interest rates, and assessing the potential impacts these challenges may have on our current results, financial condition and liquidity. Currently, our supply chain is impacted by the global memory chip shortage, which has resulted in lower overall supply and increased pricing and may result in further constrained overall supply and upward pressure on pricing. Additionally, international conflicts, including the war in Iran, may impact supply chain and increase inflation. We are mindful of the potential effects these conditions could have on our clients, partners and prospects in 2026 and beyond.

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INSIGHT ENTERPRISES, INC.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS (continued)

Critical Accounting Estimates

Our condensed consolidated financial statements have been prepared in accordance with GAAP. For a summary of significant accounting policies, see Note 1 to the Consolidated Financial Statements in Part II, Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2025. The preparation of these condensed consolidated financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, net sales and expenses. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results, however, may differ from estimates we have made. Members of our senior management have discussed the critical accounting estimates and related disclosures with the Audit Committee of our Board of Directors.

There have been no changes to the items disclosed as critical accounting estimates in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2025.

Results of Operations

The following table sets forth certain financial data as a percentage of net sales for the three and six months ended June 30, 2026 and 2025:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net sales	100.0	%	100.0	%	100.0	%	100.0	%
Costs of goods sold	78.3		78.9		78.3		79.8
Gross profit	21.7		21.1		21.7		20.2
Selling and administrative expenses	16.0		16.8		17.0		16.5
Severance and restructuring expenses, net and acquisition and integration related expenses	0.2		0.2		0.2		0.2
Earnings from operations	5.5		4.1		4.5		3.5
Non-operating expense, net	1.1		1.0		1.1		1.5
Earnings before income taxes	4.4		3.1		3.4		2.0
Income tax expense	1.2		0.9		1.1		0.7
Net earnings	3.2	%	2.2	%	2.4	%	1.3	%

We generally experience some seasonal trends in our net sales. Software and certain cloud net sales are typically seasonally higher in our second and fourth quarters. Business clients, particularly larger enterprise businesses in the United States, tend to spend more, particularly on product, in our fourth quarter. Sales to the federal government in the United States are often stronger in our third quarter, while sales in the state and local government and education markets are also often stronger in our second quarter. Sales to public sector clients in the United Kingdom are often stronger in our first quarter. These trends create overall variability in our consolidated results.

Our gross profit across the business and related to product versus services sales are, and will continue to be, impacted by partner incentives, which can and do change significantly in the amounts made available and the related product or services sales being incentivized by the partner. Incentives from our largest partners are significant and changes in the incentive requirements, which occur regularly, could impact our results of operations to the extent we are unable to effectively shift our focus and efficiently respond to them. For a discussion of risks associated with our reliance on partners, see “Risk Factors – Risks related to Our Business, Operations and Industry – We rely on our partners for product availability, competitive products to sell and marketing funds and purchasing incentives, which can and do change significantly in the amounts made

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INSIGHT ENTERPRISES, INC.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS (continued)

available and the requirements year over year,” in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025.

Net Sales. Net sales of $2.4 billion for the three months ended June 30, 2026 increased 15%, year over year, compared to the three months ended June 30, 2025, reflecting increases in all our operating segments with the majority of the increase from our North America segment. Net sales of $4.5 billion for the six months ended June 30, 2026 increased 8%, year over year, compared to the six months ended June 30, 2025, reflecting increases in each of our operating segments with the largest increase in North America.

Our net sales by operating segment were as follows for the three and six months ended June 30, 2026 and 2025 (dollars in thousands):


	Three Months Ended June 30,				% Change		Six Months Ended June 30,				% Change
	2026		2025				2026		2025
North America	$	1,938,663	$	1,684,304	15	%	$	3,621,468	$	3,384,947	7	%
EMEA	375,194		348,614		8	%	748,045		691,442		8	%
APAC	85,640		58,564		46	%	157,970		118,649		33	%
Consolidated	$	2,399,497	$	2,091,482	15	%	$	4,527,483	$	4,195,038	8	%

Our net sales by offering category for North America for the three and six months ended June 30, 2026 and 2025 were as follows (dollars in thousands):


	Three Months Ended June 30,				% Change		Six Months Ended June 30,				% Change
Sales Mix	2026		2025				2026		2025
Hardware	$	1,292,384	$	1,073,904	20	%	$	2,356,054	$	2,080,198	13	%
Software	278,067		300,708		(8)	%	563,414		697,441		(19)	%
Services	368,212		309,692		19	%	702,000		607,308		16	%
	$	1,938,663	$	1,684,304	15	%	$	3,621,468	$	3,384,947	7	%

Net sales in North America increased 15%, or $254.4 million, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025, primarily driven by increases in hardware and services net sales of 20% and 19%, respectively. The increase was partially offset by a decrease in software net sales of 8%, year to year. The net changes for the three months ended June 30, 2026 were the result of the following:

•The increase in hardware net sales was primarily driven by an increase across client segments, led by growth from large enterprise and corporate clients, and supported by higher average selling prices.

•The increase in services net sales was due to an increase in cloud solution offerings combined with an increase in Insight Delivered services including from the Inspire11 acquisition.

•The decrease in software net sales was primarily due to the continued migration of on-premise software to cloud solutions (reported net in services net sales).

Net sales in North America increased 7%, or $236.5 million, for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, driven by increases in services and hardware net sales of 16% and

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13%, respectively, year over year. This increase was partially offset by a decrease in software net sales of 19%, year to year. The net changes for the six months ended June 30, 2026 were the result of the following:

•The increase in services net sales was primarily due to an increase in cloud solution offerings combined with an increase in Insight Delivered services including from the Inspire11 acquisition.

•The decrease in software net sales was primarily due to the continued migration of on-premise software to cloud solutions (reported net in services net sales).

Our net sales by offering category for EMEA for the three and six months ended June 30, 2026 and 2025 were as follows (dollars in thousands):


	Three Months Ended June 30,				% Change		Six Months Ended June 30,				% Change
Sales Mix	2026		2025				2026		2025
Hardware	$	129,729	$	108,450	20	%	$	273,207	$	237,314	15	%
Software	144,707		151,880		(5)	%	283,184		290,176		(2)	%
Services	100,758		88,284		14	%	191,654		163,952		17	%
	$	375,194	$	348,614	8	%	$	748,045	$	691,442	8	%

Net sales in EMEA increased 8%, or $26.6 million, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. Excluding the effects of fluctuating foreign currency exchange rates, net sales in EMEA increased by 6%, year over year. Net sales of hardware and services increased by 20% and 14%, respectively, year over year, with software net sales decreasing by 5%, year to year. The net changes for the three months ended June 30, 2026 were the result of the following:

•The increase in hardware net sales was primarily due to higher volume of sales to large enterprise and corporate clients.

•The increase in services net sales was primarily due to increases in Insight Delivered services and other agency net sales.

•The decrease in software net sales was primarily due to lower volume of sales to large enterprise, corporate and public sector clients with the continued migration of on-premise software to cloud solutions (reported net in services net sales) also contributing to the decrease.

Net sales in EMEA increased 8%, or $56.6 million, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. Excluding the effects of fluctuating foreign currency exchange rates, net sales in EMEA increased 3%, year over year. Net sales of services and hardware increased by 17% and15%, respectively, year over year, partially offset by a decrease in software net sales of 2%, year to year. The net changes for the six months ended June 30, 2026 were the result of the following:

•The increase in services net sales was primarily due to increases in Insight Delivered services and other agency net sales.

•The increase in hardware net sales was primarily due to higher volume of sales to large enterprise and corporate clients.

•The decrease in software net sales was primarily due to lower volume of sales to large enterprise and corporate clients with the continued migration of on-premise software to cloud solutions (reported net in services net sales) also contributing to the decrease.

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Our net sales by offering category for APAC for the three and six months ended June 30, 2026 and 2025 were as follows (dollars in thousands):


	Three Months Ended June 30,				% Change		Six Months Ended June 30,				% Change
Sales Mix	2026		2025				2026		2025
Hardware	$	16,172	$	8,677	86	%	$	29,241	$	15,035	94	%
Software	24,550		21,671		13	%	47,055		52,926		(11)	%
Services	44,918		28,216		59	%	81,674		50,688		61	%
	$	85,640	$	58,564	46	%	$	157,970	$	118,649	33	%

Net sales in APAC increased 46%, or $27.1 million, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. Excluding the effects of fluctuating foreign currency exchange rates, net sales in APAC increased 36%, year over year. Net sales of hardware, services and software increased by 86%, 59% and 13%, respectively, year over year. The increases for the three months ended June 30, 2026 were the result of the following:

•The increase in hardware net sales was due to higher volume of sales to large enterprise clients as well as due to the acquisition of Sekuro in November 2025.

•The increase in services net sales was primarily due to the acquisition of Sekuro in November 2025.

•The increase in software net sales was driven by higher volume of sales to public sector clients.

Net sales in APAC increased 33%, or $39.3 million, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. Excluding the effects of fluctuating foreign currency exchange rates, net sales in APAC increased by 23%, year over year. Net sales of hardware and services increased by 94% and 61%, respectively, year over year. These increases were partially offset by a decrease in software net sales of 11%, year to year. The net changes for the six months ended June 30, 2026 were the result of the following:

•The increase in hardware net sales was due to higher volume of sales to large enterprise and corporate clients as well as due to the acquisition of Sekuro in November 2025.

•The increase in services net sales was primarily due to the acquisition of Sekuro in November 2025.

•The decrease in software net sales was due to the continued migration of on-premise software to cloud solutions (reported net in services net sales) with the shift led primarily by corporate and public sector clients.

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The percentage of net sales by category for North America, EMEA and APAC were as follows for the three and six months ended June 30, 2026 and 2025:


	North America				EMEA				APAC
	Three Months Ended June 30,				Three Months Ended June 30,				Three Months Ended June 30,
Sales Mix	2026		2025		2026		2025		2026		2025
Hardware	67	%	64	%	34	%	31	%	19	%	15	%
Software	14	%	18	%	39	%	44	%	29	%	37	%
Services	19	%	18	%	27	%	25	%	52	%	48	%
	100	%	100	%	100	%	100	%	100	%	100	%

	North America				EMEA				APAC
	Six Months Ended June 30,				Six Months Ended June 30,				Six Months Ended June 30,
Sales Mix	2026		2025		2026		2025		2026		2025
Hardware	65	%	61	%	36	%	34	%	18	%	13	%
Software	16	%	21	%	38	%	42	%	30	%	44	%
Services	19	%	18	%	26	%	24	%	52	%	43	%
	100	%	100	%	100	%	100	%	100	%	100	%

Gross Profit. Gross profit increased 18%, or $79.3 million, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025, with gross margin expanding approximately 60 basis points to 21.7% for the three months ended June 30, 2026 compared to 21.1% for the three months ended June 30, 2025. Gross profit increased 16%, or $134.9 million, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025, with gross margin expanding approximately 150 basis points to 21.7% for the six months ended June 30, 2026 compared to 20.2% for the six months ended June 30, 2025.

Our gross profit and gross profit as a percentage of net sales by operating segment were as follows for the three and six months ended June 30, 2026 and 2025 (dollars in thousands):


	Three Months Ended June 30,								Six Months Ended June 30,
	2026		% of Net Sales		2025		% of Net Sales		2026		% of Net Sales		2025		% of Net Sales
North America	$	397,707	20.5	%	$	341,692	20.3	%	$	751,033	20.7	%	$	661,144	19.5	%
EMEA	93,426		24.9	%	82,434		23.6	%	180,229		24.1	%	154,361		22.3	%
APAC	30,469		35.6	%	18,201		31.1	%	52,491		33.2	%	33,299		28.1	%
Consolidated	$	521,602	21.7	%	$	442,327	21.1	%	$	983,753	21.7	%	$	848,804	20.2	%

North America's gross profit for the three months ended June 30, 2026 increased 16%, or $56.0 million, compared to the three months ended June 30, 2025. As a percentage of net sales, gross margin expanded approximately 20 basis points to 20.5%, year over year. The year over year net expansion in gross margin was primarily attributable to the following:

•An expansion in services margin of 87 basis points, partially offset by a contraction in product margin of 64 basis points.

•The increase in services margin primarily reflects an increase in margin contribution from cloud solution offerings and Insight Core services, partially offset by a contraction in warranty and partner delivered services.

•The contraction in product margin primarily reflects changes in hardware mix, including a higher proportion of lower-margin sales compared to the prior year period.

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North America's gross profit for the six months ended June 30, 2026 increased 14%, or $89.9 million, compared to the six months ended June 30, 2025. As a percentage of net sales, gross margin expanded approximately 120 basis points to 20.7% for the six months ended June 30, 2026. The year over year net expansion in gross margin was primarily attributable to the following:

•An expansion in services margin of 137 basis points, partially offset by a contraction in product margin of 21 basis points.

•The increase in services margin primarily reflects increases in margin contribution from cloud solution offerings and Insight Delivered services, partially offset by a contraction in warranty and partner delivered services.

•The contraction in product margin primarily reflects a larger concentration of hardware in our product mix, along with lower margins compared to the prior year period.

EMEA's gross profit for the three months ended June 30, 2026 increased 13%, or $11.0 million, year over year (increasing 12% when excluding the effects of fluctuating foreign currency exchange rates), compared to the three months ended June 30, 2025. As a percentage of net sales, gross margin expanded 130 basis points to 24.9%, year over year. The year over year net expansion in gross margin was primarily attributable to the following:

•An increase in services margin of 256 basis points, partially offset by a contraction in product margin of 131 basis points.

•The increase in services margin is primarily the result of an expansion in margin contribution from Insight Delivered services and in instances of software sales where Insight is the agent.

•The contraction in product margin is primarily the result of sales of software at lower margins than in the prior year period.

EMEA's gross profit for the six months ended June 30, 2026 increased 17%, or $25.9 million, year over year (increasing 12% when excluding the effects of fluctuating foreign currency exchange rates), compared to the six months ended June 30, 2025. As a percentage of net sales, gross margin expanded approximately 180 basis points to 24.1%, year over year. The year over year net expansion in gross margin was primarily attributable to the following:

•An increase in services margin of 252 basis points, partially offset by a contraction in product margin of 75 basis points.

•The increase in services margin is primarily the result of an expansion in margin contribution from Insight Delivered services and in instances of software sales where Insight is the agent.

•The contraction in product margin is primarily the result of sales of hardware and software at lower margins than in the same period in the prior year.

APAC's gross profit for the three months ended June 30, 2026 increased 67%, or $12.3 million, year over year (increasing 56% when excluding the effects of fluctuating foreign currency exchange rates), compared to the three months ended June 30, 2025. As a percentage of net sales, gross margin expanded 450 basis points to 35.6%, year over year. The year over year net expansion in gross margin was primarily attributable to the following:

•A net expansion in services margin of 565 basis points, partially offset by a contraction in product margin of 115 basis points.

•The expansion in services margin is primarily driven by an expansion in margin contribution from the acquisition of Sekuro in November 2025 as well as an increase in cloud solution offerings.

•The contraction in product margin is primarily the result of sales of hardware and software at lower margins than in the same period in the prior year.

APAC's gross profit for the six months ended June 30, 2026 increased 58%, or $19.2 million, year over year (increasing 47% when excluding the effects of fluctuating foreign currency exchange rates), compared to the six months ended June 30, 2025. As a percentage of net sales, gross margin expanded approximately 510 basis points, year over year. The year over year net expansion in gross margin was primarily attributable to the following:

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•A net expansion in services margin of 668 basis points, partially offset by a contraction in product margin of 152 basis points.

•The expansion in services margin is primarily driven by an expansion in margin contribution from the acquisition of Sekuro in November 2025 as well as an increase in cloud solution offerings.

•The contraction in product margin is primarily the result of sales of hardware and software at lower margins than in the same period in the prior year.

Operating Expenses.

Selling and Administrative Expenses. Selling and administrative expenses for the three months ended June 30, 2026 increased 9%, or $32.3 million, compared to the three months ended June 30, 2025 (an increase of 9% when excluding the effects of fluctuating foreign currency exchange rates). Selling and administrative expenses increased $77.1 million, or 11% (increasing 10% when excluding the effects of fluctuating foreign currency exchange rates), for the six months ended June 30, 2026 compared to the six months ended June 30, 2025.

Selling and administrative expenses decreased approximately 80 basis points as a percentage of net sales in the three months ended June 30, 2026 compared to the three months ended June 30, 2025. The overall net increase in selling and administrative expenses reflects increases in personnel costs of $27.3 million, depreciation and amortization expense of $2.8 million and legal and professional fees of $2.7 million. The increase in personnel costs was driven by variable compensation costs and expenses from acquisitions in the fourth quarter of 2025. The increase in depreciation and amortization expenses reflects higher amortization of assets associated with acquisitions in the fourth quarter of 2025. The increase in legal and professional fees primarily relates to consulting projects related to transformation of our global internal systems and EMEA specific transformation. We also incurred transformation costs in the current and prior year periods of $9.8 million and $7.0 million, respectively. We have been undergoing a transformation of our business in phases across the global organization to help us achieve our strategic objectives, including becoming a leading solutions integrator. These costs are unique in nature to the individual transformation phases and are generally not expected to recur in the longer term.

Selling and administrative expenses increased approximately 50 basis points as a percentage of net sales in the six months ended June 30, 2026 compared to the six months ended June 30, 2025. The overall net increase in selling and administrative expenses primarily reflects increases in personnel costs of $51.3 million, depreciation and amortization expenses of $5.4 million and other expenses of $13.7 million. The increase in personnel costs was driven by variable compensation costs and expenses from acquisitions in the fourth quarter of 2025. The increase in depreciation and amortization expenses reflects higher amortization of assets associated with acquisitions in the fourth quarter of 2025. The increase in other expenses includes the net loss on revaluation of earnout liabilities of approximately $25.6 million from the acquisitions of InfoCenter, Inspire11 and Sekuro for the six months ended June 30, 2026 compared to a net loss on revaluation of earnout liabilities of $15.4 million from the acquisition of InfoCenter for the six months ended June 30, 2025. We incurred an impairment loss of approximately $2.0 million in the six months ended June 30, 2026 compared to an impairment loss of approximately $12.6 million in the six months ended June 30, 2025 relating to the Santa Monica property that was reclassified to held for sale in April 2025 and subsequently sold in April 2026. We also incurred transformation costs, as discussed above, in the current and prior year periods of $16.3 million and $8.3 million, respectively.

Severance and Restructuring Expenses, net. During the three months ended June 30, 2026, we recorded severance and restructuring expenses, net of adjustments, of approximately $5.8 million. Comparatively, during the three months ended June 30, 2025, we recorded severance and restructuring expenses, net of adjustments, of approximately $3.4 million. The severance charges in both periods primarily related to a realignment of certain roles and responsibilities and reductions in workforce.

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During the six months ended June 30, 2026, we recorded severance and restructuring expense, net of adjustments, of approximately $12.3 million. Comparatively, during the six months ended June 30, 2025, we recorded severance and restructuring expense, net of adjustments, of approximately $10.4 million. The severance charges in both periods primarily related to a realignment of certain roles and responsibilities and reductions in workforce.

Acquisition and Integration Related Expenses. During the three months ended June 30, 2026, we recorded acquisition and integration related expenses of approximately $0.3 million. During the three months ended June 30, 2025, we recorded acquisition and integration related expenses of approximately $0.1 million

During each of the six months ended June 30, 2026 and 2025, we recorded acquisition and integration related expenses of approximately $0.3 million.

Earnings from Operations. Earnings from operations increased 51%, or $44.4 million, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. Earnings from operations and earnings from operations as a percentage of net sales by operating segment were as follows for the three months ended June 30, 2026 and 2025 (dollars in thousands):


	Three Months Ended June 30,								Six Months Ended June 30,
	2026		% of Net Sales		2025		% of Net Sales		2026		% of Net Sales		2025		% of Net Sales
North America	$	112,583	5.8	%	$	68,722	4.1	%	$	178,781	4.9	%	$	119,512	3.5	%
EMEA	9,489		2.5	%	11,156		3.2	%	16,094		2.2	%	16,167		2.3	%
APAC	8,895		10.4	%	6,654		11.4	%	7,774		4.9	%	10,956		9.2	%
Consolidated	$	130,967	5.5	%	$	86,532	4.1	%	$	202,649	4.5	%	$	146,635	3.5	%

North America's earnings from operations for the three months ended June 30, 2026 increased 64%, or $43.9 million, compared to the three months ended June 30, 2025. As a percentage of net sales, earnings from operations increased by approximately 170 basis points to 5.8%. The increase in earnings from operations was primarily driven by an increase in gross profit, partially offset by an increase in selling and administrative expenses, including expenses relating to the acquisition of Inspire11, when compared to the three months ended June 30, 2025.

North America's earnings from operations for the six months ended June 30, 2026 increased 50%, or $59.3 million, compared to the six months ended June 30, 2025. As a percentage of net sales, earnings from operations increased by approximately 140 basis points to 4.9%. The increase in earnings from operations was primarily driven by an increase in gross profit, partially offset by an increase in selling and administrative expenses, including expenses relating to the acquisition of Inspire11, when compared to the six months ended June 30, 2025.

EMEA's earnings from operations for the three months ended June 30, 2026 decreased 15%, or $1.7 million (decreasing 20% when excluding the effects of fluctuating foreign currency exchange rates), compared to the three months ended June 30, 2025. As a percentage of net sales, earnings from operations decreased by approximately 70 basis points to 2.5%. The decrease in earnings from operations was primarily driven by an increase in transformation and severance costs within operating expenses, partially offset by an increase in gross profit when compared to the three months ended June 30, 2025.

EMEA's earnings from operations for the six months ended June 30, 2026 was relatively flat (decreasing 7% when excluding the effects of fluctuating foreign currency exchange rates), compared to the six months ended June 30, 2025. As a percentage of net sales, earnings from operations decreased by approximately 10 basis points to 2.2%. The slight decrease in earnings from operations was primarily driven by an increase in transformation and severance costs within operating expenses, partially offset by an increase in gross profit, when compared to the six months ended June 30, 2025.

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APAC's earnings from operations for the three months ended June 30, 2026 increased 34%, or $2.2 million (increasing 28% when excluding the effects of fluctuating foreign currency exchange rates), compared to the three months ended June 30, 2025. As a percentage of net sales, earnings from operations decreased by approximately 100 basis points to 10.4%. The increase in earnings from operations was driven by an increase in gross profit, partially offset by expenses related to the acquisition of Sekuro, when compared to the three months ended June 30, 2025.

APAC's earnings from operations for the six months ended June 30, 2026 decreased 29%, or $3.2 million (decreasing 33% when excluding the effects of fluctuating foreign currency exchange rates), compared to the six months ended June 30, 2025. As a percentage of net sales, earnings from operations decreased by approximately 430 basis points to 4.9%. The decrease in earnings from operations was driven by expenses related to the acquisition of Sekuro, partially offset by an increase in gross profit, when compared to the six months ended June 30, 2025.

Adjusted Earnings from Operations. Adjusted earnings from operations increased 31%, or $42.6 million, year over year, in the three months ended June 30, 2026 compared to the three months ended June 30, 2025. Adjusted earnings from operations increased 29%, or $72.6 million, year over year, in the six months ended June 30, 2026 compared to the six months ended June 30, 2025. Adjusted earnings from operations as a percentage of net sales by operating segment were as follows for the three months ended June 30, 2026 and 2025 (dollars in thousands):


	Three Months Ended June 30,								Six Months Ended June 30,
	2026		% of Net Sales		2025		% of Net Sales		2026		% of Net Sales		2025		% of Net Sales
North America	$	149,054	7.7	%	$	109,957	6.5	%	$	271,453	7.5	%	$	203,817	6.0	%
EMEA	20,582		5.5	%	20,991		6.0	%	35,344		4.7	%	33,590		4.9	%
APAC	10,995		12.8	%	7,077		12.1	%	14,982		9.5	%	11,817		10.0	%
Consolidated	$	180,631	7.5	%	$	138,025	6.6	%	$	321,779	7.1	%	$	249,224	5.9	%

North America’s Adjusted earnings from operations for the three months ended June 30, 2026 increased 36%, or $39.1 million, compared to the three months ended June 30, 2025. As a percentage of net sales, Adjusted earnings from operations increased by approximately 120 basis points to 7.7%. The increase in Adjusted earnings from operations was primarily driven by an increase in gross profit, partially offset by an increase in selling and administrative expenses.

North America’s Adjusted earnings from operations for the six months ended June 30, 2026 increased 33%, or $67.6 million, compared to the six months ended June 30, 2025. As a percentage of net sales, Adjusted earnings from operations increased by approximately 150 basis points to 7.5%. The increase in Adjusted earnings from operations was primarily driven by an increase in gross profit, partially offset by an increase in selling and administrative expenses.

EMEA’s Adjusted earnings from operations for the three months ended June 30, 2026 decreased 2%, or $0.4 million (decreasing 5% excluding the effects of fluctuating foreign currency exchange rates), compared to the three months ended June 30, 2025. As a percentage of net sales, Adjusted earnings from operations decreased by approximately 50 basis points to 5.5%. The slight decrease in Adjusted earnings from operations was primarily driven by an increase in selling and administrative expenses, partially offset by an increase in gross profit.

EMEA’s Adjusted earnings from operations for the six months ended June 30, 2026 increased 5%, or $1.8 million (was relatively flat excluding the effects of fluctuating foreign currency exchange rates), compared to the six months ended June 30, 2025. As a percentage of net sales, Adjusted earnings from operations decreased by approximately 20 basis points to 4.7%. The increase in Adjusted earnings from operations was largely driven by an increase in gross profit, primarily from the continued contribution from large agency transactions where

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we acted as a paid pass-through agent in transactions for certain clients and their vendors in the Middle East, partially offset by an increase in selling and administrative expenses.

APAC’s Adjusted earnings from operations for the three months ended June 30, 2026 increased 55%, or $3.9 million (increasing 48% excluding the effects of fluctuating foreign currency exchange rates), compared to the three months ended June 30, 2025. As a percentage of net sales, Adjusted earnings from operations increased by approximately 70 basis points to 12.8%. The increase in Adjusted earnings from operations was primarily driven by an increase in gross profit from the acquisition of Sekuro in November 2025, partially offset by an increase in selling and administrative expenses.

APAC’s Adjusted earnings from operations for the six months ended June 30, 2026 increased 27%, or $3.2 million (increasing 20% excluding the effects of fluctuating foreign currency exchange rates), compared to the six months ended June 30, 2025. As a percentage of net sales, Adjusted earnings from operations decreased by approximately 50 basis points to 9.5%. The increase in Adjusted earnings from operations was primarily driven by an increase in gross profit from the acquisition of Sekuro in November 2025, partially offset by an increase in selling and administrative expenses.

Non-Operating Expense (Income).

Interest Expense, Net. Interest expense, net primarily relates to borrowings under our financing facilities and imputed interest under our inventory financing facilities, the Convertible Notes and the Senior Notes, as applicable, partially offset by interest income generated from interest earned on cash and cash equivalent bank balances. Interest expense, net for the three months ended June 30, 2026 increased 9%, or $2.1 million, compared to the three months ended June 30, 2025. This was primarily due to higher loan balances under our ABL facility and inventory financing facilities, partially offset by increased interest income and lower interest rates on ABL facility borrowings in the current year period. Interest expense, net for the six months ended June 30, 2026 increased 27%, or $10.1 million, compared to the six months ended June 30, 2025. The increase in the six months ended June 30, 2026 was primarily due to higher loan balances under our ABL facility and the maturity of the Convertible Notes in February 2025, partially offset by the lower interest rates and increased interest income.

Imputed interest under our inventory financing facilities was $3.2 million and $5.9 million for the three and six months ended June 30, 2026, compared to $2.4 million and $4.8 million for the three and six months ended June 30, 2025. For a description of our various financing facilities, see Note 5 to our Condensed Consolidated Financial Statements in Part I, Item 1 of this report.

Other Income (Expense), Net. Other income (expense), net primarily reflects a net loss on the revaluation of warrant settlement liabilities of $25.1 million recorded in the six months ended June 30, 2025 in connection with the cash settlement of a portion of the Warrants, with no comparable activity in the six months ended June 30, 2026. For additional information regarding the Warrants, see Note 5 to our Condensed Consolidated Financial Statements in Part I, Item 1 of this report.

Income Tax Expense. Our effective tax rate of 27.0% for the three months ended June 30, 2026 was comparable to our effective tax rate of 26.9% for the same period in 2025, with both periods primarily impacted by state income taxes and higher taxes on earnings in foreign jurisdictions.

Our effective tax rate was 31.0% for the six months ended June 30, 2026, compared to 34.5% for the same period in 2025. The effective tax rate decreased primarily due to the impact of nonrecurring, nondeductible losses related to warrant fair value adjustments in the prior-year period, partially offset by a reduction in the valuation allowance on foreign tax credit carryforwards.

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INSIGHT ENTERPRISES, INC.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS (continued)

Use of Non-GAAP Financial Measures

Adjusted non-GAAP earnings from operations (which we also refer to as "Adjusted earnings from operations") excludes (i) severance and restructuring expenses, net, (ii) certain executive recruitment and hiring related expenses, (iii) amortization of intangible assets, (iv) transformation costs, (v) certain acquisition and integration related expenses, (vi) gains and losses from revaluation of acquisition related earnout liabilities, (vii) impairment losses on long lived real estate assets held for sale, (viii) stock-based compensation expense, and (ix) certain third-party data center service outage related expenses and recoveries, as applicable. Adjusted non-GAAP earnings from operations is used by the Company and its 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. We believe that this non-GAAP financial measure is useful to investors because it allows for greater transparency, facilitates comparisons to prior periods and to the Company’s competitors’ results, and assists in forecasting performance for future periods. The non-GAAP financial measure is 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.


	Three Months Ended June 30, 2026
Adjusted Earnings from Operations (in thousands):	North America			EMEA			APAC			Consolidated
GAAP earnings from operations	$	112,583		$	9,489		$	8,895		$	130,967
Amortization of intangible assets	18,654			1,803			588			21,045
Change in fair value of earnout liabilities	(206)			—			492			286
Transformation costs	6,086			3,712			32			9,830
Impairment loss on a long lived real estate asset held for sale	664			—			—			664
Severance and restructuring expenses, net	2,048			3,400			347			5,795
Acquisition and integration related expenses	128			—			137			265
Stock-based compensation expense	8,432			2,178			504			11,114
Other*	665			—			—			665
Adjusted non-GAAP earnings from operations	$	149,054		$	20,582		$	10,995		$	180,631

GAAP EFO as a percentage of net sales	5.8		%	2.5		%	10.4		%	5.5%
Adjusted non-GAAP EFO as a percentage of net sales	7.7		%	5.5		%	12.8		%	7.5%

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INSIGHT ENTERPRISES, INC.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS (continued)


	Three Months Ended June 30, 2025
Adjusted Earnings from Operations (in thousands):	North America			EMEA			APAC			Consolidated
GAAP earnings from operations	$	68,722		$	11,156		$	6,654		$	86,532
Amortization of intangible assets	16,817			1,851			—			18,668
Change in fair value of earnout liabilities	(3,299)			3,463			—			164
Transformation costs	4,928			2,077			—			7,005
Impairment loss on a long lived real estate asset held for sale	12,588			—			—			12,588
Severance and restructuring expenses, net	2,554			803			48			3,405
Acquisition and integration related expenses	76			—			—			76
Stock-based compensation expense	7,046			1,641			375			9,062
Other*	525			—			—			525
Adjusted non-GAAP earnings from operations	$	109,957		$	20,991		$	7,077		$	138,025

GAAP EFO as a percentage of net sales	4.1		%	3.2		%	11.4		%	4.1%
Adjusted non-GAAP EFO as a percentage of net sales	6.5		%	6.0		%	12.1		%	6.6%


	Six Months Ended June 30, 2026
Adjusted Earnings from Operations (in thousands):	North America			EMEA			APAC			Consolidated
GAAP earnings from operations	$	178,781		$	16,094		$	7,774		$	202,649
Amortization of intangible assets	37,298			3,616			1,190			42,104
Gain on revaluation of earnout liabilities	21,080			—			4,499			25,579
Transformation costs	9,668			6,634			32			16,334
Impairment loss on a long lived real estate asset held for sale	2,033			—			—			2,033
Severance and restructuring expenses, net	6,689			5,150			441			12,280
Acquisition and integration related expenses	189			(16)			93			266
Stock-based compensation expense	14,492			3,866			953			19,311
Other*	$	1,223		$	—		$	—		$	1,223
Adjusted non-GAAP earnings from operations	$	271,453		$	35,344		$	14,982		$	321,779

GAAP EFO as a percentage of net sales	4.9		%	2.2		%	4.9		%	4.5%
Adjusted non-GAAP EFO as a percentage of net sales	7.5		%	4.7		%	9.5		%	7.1%


	Six Months Ended June 30, 2025
Adjusted Earnings from Operations (in thousands):	North America			EMEA			APAC			Consolidated
GAAP earnings from operations	$	119,512		$	16,167		$	10,956		$	146,635
Amortization of intangible assets	33,621			3,595			—			37,216
Gain on revaluation of earnout liabilities	11,901			3,463			—			15,364
Transformation costs	5,788			2,487			—			8,275
Impairment loss on a long lived real estate asset held for sale	12,588			—			—			12,588
Severance and restructuring expenses, net	5,665			4,656			110			10,431
Acquisition and integration related expenses	246			—			5			251
Stock-based compensation expense	13,941			3,222			746			17,909
Other*	555			—			—			555
Adjusted non-GAAP earnings from operations	$	203,817		$	33,590		$	11,817		$	249,224

GAAP EFO as a percentage of net sales	3.5		%	2.3		%	9.2		%	3.5%
Adjusted non-GAAP EFO as a percentage of net sales	6.0		%	4.9		%	10.0		%	5.9%


*			Other includes certain executive recruitment and hiring related expenses and certain third-party data center service outage related expenses and recoveries, net. Certain executive recruitment and hiring related expenses were $0.7 million and $1.2 million for the three and six months ended June 30, 2026, respectively, compared to immaterial amounts for the three and six months ended June 30, 2025. Certain third-party data center service outage related expenses were $0.5 million for both the three and six months ended June 30, 2025 with no comparable activity for both the three and six months ended June 30, 2026.

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INSIGHT ENTERPRISES, INC.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS (continued)

Liquidity and Capital Resources

The following table sets forth certain consolidated cash flow information for the six months ended June 30, 2026 and 2025 (in thousands):


	Six Months Ended June 30,
	2026		2025
Net cash provided by (used in) operating activities	$	20,140	$	(99,001)
Net cash used in investing activities	(5,870)		(11,978)
Net cash provided by financing activities	3,835		139,118
Foreign currency exchange effect on cash, cash equivalent and restricted cash balances	(12,321)		21,959
Increase in cash, cash equivalents and restricted cash	5,784		50,098
Cash, cash equivalents and restricted cash at beginning of period	360,776		261,467
Cash, cash equivalents and restricted cash at end of period	$	366,560	$	311,565

Cash and Cash Flow

•Our primary use of cash during the six months ended June 30, 2026 was to repurchase shares of our common stock.

•Operating activities provided $20.1 million in cash during the six months ended June 30, 2026, compared to cash used in operating activities of $99.0 million during the six months ended June 30, 2025.

•Capital expenditures were $13.9 million and $12.0 million for the six months ended June 30, 2026 and 2025, respectively.

•During the six months ended June 30, 2026, we repurchased $150.0 million of our common stock compared to $76.1 million of repurchases during the six months ended June 30, 2025.

•We had net borrowings under our ABL facility during the six months ended June 30, 2026 of $120.2 million compared to net borrowings of $780.4 million during the six months ended June 30, 2025.

•We had net borrowings under our inventory financing facilities of $42.6 million during the six months ended June 30, 2026 compared to net borrowings of $2.1 million during the six months ended June 30, 2025.

•We repaid approximately $333.1 million for the remaining principal balance upon maturity of the Convertible Notes in the six months ended June 30, 2025.

•We paid $222.0 million to settle a portion of the Warrants relating to the Call Spread Transactions associated with the Convertible Notes in the six months ended June 30, 2025. All Warrants were fully settled or expired by the end of 2025.

We anticipate that cash flows from operations, together with the funds available under our financing facilities, will be adequate to support our expected cash and working capital requirements for operations, as well as other strategic acquisitions, over the next 12 months and beyond. We expect existing cash and cash flows from operations to continue to be sufficient to fund our operating cash activities and cash commitments for investing and financing activities, such as capital expenditures, strategic acquisitions, repurchases of our common stock, debt repayments and repayment of our inventory financing facilities for the next 12 months. We currently expect to fund known cash commitments beyond the next 12 months through operating cash activities and/or other available financing resources.

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INSIGHT ENTERPRISES, INC.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS (continued)

Net cash provided by operating activities

•We have an inverted cash cycle resulting from typically paying partners on shorter terms than we provide to our clients. This generally means in periods of growing hardware sales, we typically use cash from operations.

•Cash flow provided by operating activities in the first half of 2026 was $20.1 million compared to cash used in operating activities of $99.0 million in the first half of 2025.

•The increase in cash provided by operating activities period over period was primarily due to higher net earnings and favorable changes in working capital, driven primarily by a larger increase in accounts payable. These favorable impacts were partially offset by an increase in accounts receivable and inventories. Changes in accounts receivable and accounts payable were influenced by netting on certain agent revenue streams, including transactions in our EMEA segment, as well as changes in vendor mix and the timing of customer receipts compared to partner payments.

•We continue to be impacted by netted costs that we apply to our services net sales to appropriately record net sales that we earn as an agent. These netted costs, while excluded from net sales and cost of goods sold, are processed and applied to accounts receivable and accounts payable in each reporting period. As a result, calculation of our unadjusted cash conversion cycle, including days sales outstanding and days payables outstanding, do not provide an accurate reflection of our cash conversion metric, due to the metric components being inherently inflated. For example, netted costs were $5.1 billion and $3.6 billion in the second quarter of 2026 and 2025, respectively.

•We expect that cash flow from operations will be used, at least partially, to fund working capital as we typically pay our partners on average terms that are shorter than the average terms we grant to our clients in order to take advantage of supplier discounts.

•We intend to use cash generated in the remainder of 2026 in excess of working capital needs to pay down our ABL facility and inventory financing facilities, and to repurchase shares of our common stock.

Net cash used in investing activities

•Capital expenditures were $13.9 million and $12.0 million for the six months ended June 30, 2026 and 2025, respectively.

•During the six months ended June 30, 2026, we received proceeds of $8.0 million from the sale of the Santa Monica property.

•We expect capital expenditures for the full year 2026 to be between approximately $20.0 and $30.0 million.

Net cash provided by (used in) financing activities

•During the six months ended June 30, 2026, we had net borrowings under our ABL facility of $120.2 million, which were primarily used to repurchase shares of our common stock.

•During the six months ended June 30, 2025, we had net borrowings under our ABL facility that increased our outstanding long-term debt balance by $780.4 million, which were primarily used to fund the repayment of the remaining principal balance upon maturity of the Convertible Notes, to settle a portion of the Warrants and to repurchase shares of our common stock.

•We repaid approximately $333.1 million for the remaining principal balance upon maturity of the Convertible Notes in the six months ended June 30, 2025.

•We paid $222.0 million to settle a portion of the Warrants relating to the Call Spread Transactions associated with the Convertible Notes in cash in the six months ended June 30, 2025. All Warrants were fully settled or expired by the end of 2025.

•During the six months ended June 30, 2026, we made earnout and acquisition related payments of $5.5 million primarily associated with our acquisition of Amdaris Group Limited.

•During the six months ended June 30, 2025, we did not make any earnout and acquisition related payments.

•During the six months ended June 30, 2026, we repurchased $150.0 million of our common stock.

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INSIGHT ENTERPRISES, INC.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS (continued)

•During the six months ended June 30, 2025, we repurchased $76.1 million of our common stock.

Financing Facilities

•Our debt balance as of June 30, 2026 was $1.5 billion.

•Our objective is to pay our debt balances down while retaining adequate cash balances to meet overall business objectives.

•The Senior Notes are subject to certain events of default and certain acceleration clauses. As of June 30, 2026, no such events have occurred.

•Our ABL facility contains various covenants customary for transactions of this type, including complying with a minimum receivable and inventory requirement and meeting monthly, quarterly and annual reporting requirements.

•The credit agreement contains customary affirmative and negative covenants and events of default.

•At June 30, 2026, we were in compliance with all such covenants.

•While the ABL facility has a stated maximum amount, the actual availability under the ABL facility is limited by a minimum accounts receivable and inventory requirement. As of June 30, 2026, eligible accounts receivable and inventory were sufficient to permit access to the full $2.0 billion under the ABL facility of which $981.7 million was outstanding.

We also have agreements with financial intermediaries to facilitate the purchase of inventory from certain suppliers under certain terms and conditions.

•These amounts are classified separately as accounts payable – inventory financing facilities in our condensed consolidated balance sheets.

•Our inventory financing facilities have an aggregate availability for vendor purchases of $755.0 million, of which $266.6 million was outstanding at June 30, 2026.

Undistributed Foreign Earnings

Cash and cash equivalents held by foreign subsidiaries are generally subject to U.S. income taxation upon repatriation to the United States. As of June 30, 2026, we had approximately $316.4 million in cash and cash equivalents in certain of our foreign subsidiaries, primarily residing in Canada, Australia, and New Zealand. Certain of these cash balances will be remitted to the United States or other countries by paying down intercompany payables generated in the ordinary course of business or through actual dividend distributions.

Off-Balance Sheet Arrangements

We have entered into off-balance sheet arrangements, which include indemnifications. The indemnifications are discussed in Note 8 to the Condensed Consolidated Financial Statements in Part I, Item 1 of this report and such discussion is incorporated by reference herein. We believe that none of our off-balance sheet arrangements have, or are reasonably likely to have, a material current or future effect on our financial condition, sales or expenses, results of operations, liquidity, capital expenditures or capital resources.

Recently Issued Accounting Standards

The information contained in Note 1 to the Condensed Consolidated Financial Statements in Part I, Item 1 of this report concerning a description of recently issued accounting standards which affect or may affect our financial statements, including our expected dates of adoption and the estimated effects on our results of operations and financial condition, is incorporated by reference herein.

Contractual Obligations

Other than as described in Note 8 to the Condensed Consolidated Financial Statements in Part I, Item 1 of this report, there have been no material changes in our reported contractual obligations, as described under “Cash Requirements From Contractual Obligations” in “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources” in Part II, Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2025.

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INSIGHT ENTERPRISES, INC.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

Except as described below, there have been no material changes in our reported market risks, as described in “Quantitative and Qualitative Disclosures About Market Risk” in Part II, Item 7A of our Annual Report on Form 10-K for the year ended December 31, 2025.

Although our Senior Notes are based on fixed rates, changes in interest rates could impact the fair market value of such notes. As of June 30, 2026, the fair market value of our Senior Notes was $510.0 million. For additional information about our Senior Notes, see Note 5 to our Condensed Consolidated Financial Statements in Part I, Item 1 of this report.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

Our Chief Executive Officer and Chief Financial Officer evaluated the effectiveness of our disclosure controls and procedures (as such term is defined under Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) and determined that as of June 30, 2026 our disclosure controls and procedures were effective to ensure that information required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

Changes in Internal Control over Financial Reporting

There was no change in the Company’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) in the three months ended June 30, 2026 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

Inherent Limitations of Internal Control Over Financial Reporting

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to risks that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

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INSIGHT ENTERPRISES, INC.

Part II – OTHER INFORMATION

Item 1. Legal Proceedings.

There are no material pending legal proceedings to which we are a party or of which any of our property is the subject. From time to time, we are party to various routine legal proceedings incidental to the business, see “– Legal Proceedings” in Note 8 to the Condensed Consolidated Financial Statements in Part I, Item 1 of this report.

Item 1A. Risk Factors.

In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, Item 1A, “Risk Factors”, in our Annual Report on Form 10-K for the year ended December 31, 2025, which could materially affect our business, financial condition or future results. The risks described in our Annual Report on Form 10-K are not the only risks facing the Company. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also materially adversely affect our business, financial condition or operating results.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

There were no unregistered sales of equity securities during the three months ended June 30, 2026.

We have never paid a cash dividend on our common stock, and we currently do not intend to pay any cash dividends in the foreseeable future. Our ABL facility contains certain covenants that, if not met, restrict the payment of cash dividends.

Issuer Purchases of Equity Securities


Period	(a) Total Number of Shares Purchased	(b) Average Price Paid per Share		(c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	(d) Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
April 1, 2026 through April 30, 2026	—	$	—	—	$	224,000,082
May 1, 2026 through May 31, 2026	248,801	92.13		248,801	201,077,826
June 1, 2026 through June 30, 2026	461,475	112.85		461,475	149,000,205
Total	710,276			710,276

On December 19, 2025, we announced that our Board of Directors authorized the repurchase of up to $299.0 million of our common stock, including approximately $149.0 million that remained from prior authorizations. As of June 30, 2026, approximately $149.0 million remained available for repurchases under our share repurchase program.

In accordance with the share repurchase program, share repurchases may be made on the open market, subject to Rule 10b-18 or in privately negotiated transactions, through block trades, through 10b5-1 plans or otherwise, at management’s discretion. The number of shares purchased, and the timing of the purchases will be based on market conditions, working capital requirements, general business conditions and other factors. We intend to retire the repurchased shares.

Item 3. Defaults Upon Senior Securities.

Not applicable.

Item 4. Mine Safety Disclosures.

Not applicable.

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INSIGHT ENTERPRISES, INC.

Item 5. Other Information.

Rule 10b5-1 Trading Plans

During the three months ended June 30, 2026, none of our directors or executive officers adopted, modified or terminated a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (each as defined in Item 408 of Regulation S-K).

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INSIGHT ENTERPRISES, INC.

Item 6. Exhibits.

Incorporated by Reference

Exhibit
Number

Exhibit Description

Form

File No.

Exhibit
Number

Filing
Date

Filed

Herewith

3.1

Second Amended and Restated Certificate of Incorporation of Insight Enterprises, Inc.

8-K

000-25092

3.1

May 14, 2026

3.2

Amended and Restated Bylaws of Insight Enterprises, Inc.

8-K

000-25092

3.2

May 21, 2015

10.1(1)

Seventh Amendment to Credit Agreement, dated as of May 28, 2026, by and among Insight Enterprises, Inc., the subsidiaries of Insight Enterprises, Inc. party thereto as borrowers and guarantors, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto.

8-K

000-25092

10.1

June 1, 2026

31.1

Certification of Chief Executive Officer Pursuant to Securities Exchange Act Rule 13a-14

31.2

Certification of Chief Financial Officer Pursuant to Securities Exchange Act Rule 13a-14

32.1*

Certification of Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101.INS

Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document

101.SCH

Inline XBRL Taxonomy Extension Schema Document

101.CAL

Inline XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF

Inline XBRL Taxonomy Extension Definition Linkbase Document

101.LAB

Inline XBRL Taxonomy Extension Label Linkbase Document

101.PRE

Inline XBRL Taxonomy Extension Presentation Linkbase Document

104

Cover Page Interactive Data File (formatted as Inline XBRL with applicable taxonomy extension information contained in Exhibits 101)

* Furnished herewith

(1) Certain schedules and exhibits (or similar attachments) have been omitted pursuant to Item 601(a)(5) of Regulation S-K. Insight agrees to furnish copies of any such schedules and exhibits (or similar attachments) to the SEC upon request.

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INSIGHT ENTERPRISES, INC.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date:

August 6, 2026

INSIGHT ENTERPRISES, INC.

By:

/s/ Jack Azagury

Jack Azagury

President and Chief Executive Officer

(Duly Authorized Officer)

By:

/s/ James A. Morgado

James A. Morgado

Chief Financial Officer