REVENUES

3 Months Ended

Jun. 30, 2024

REVENUES [Abstract]

REVENUES

3. REVENUES

CONTRACT BALANCES

Accounts receivable – trade consists entirely of amounts due from contracts with customers. In addition, we had $46.8 million and $44.6 million of receivables from contracts with customers included within financing receivables as of June 30, 2024, and March 31, 2024, respectively. The following table provides the balance of contract liabilities from contracts with customers (in thousands):

	June 30, 2024		March 31, 2024
Current (included in deferred revenue)	$	138,032	$	134,110
Non-current (included in other liabilities)	$	76,896	$	68,174

Revenue recognized from the beginning contract liability balance was $40.5 million and $30.9 million for the three months ended June 30, 2024, and 2023, respectively.

PERFORMANCE OBLIGATIONS

The following table includes revenue expected to be recognized in the future related to performance obligations, primarily non-cancelable contracts for ePlus managed services, that are unsatisfied or partially unsatisfied at the end of the reporting period (in thousands):

Remainder of the year ending March 31, 2025	$	68,956
Year ending March 31, 2026		45,452
Year ending March 31, 2027		26,529
Year ending March 31, 2028		10,718
Year ending March 31, 2029 and thereafter		7,166
Total remaining performance obligations	$	158,821

The table does not include the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, and (ii) contracts where we recognize revenue at the amount that we have the right to invoice for services performed.