Conference Call Discussing Earnings for First Quarter 2026 Results

What you'll learn

• Product sales rose nearly 14% , fueled by continued demand across AI, Security, Data Center, and Cloud. We continue to see a sustained industry-wide shift towards ratable and subscription-based models as you have heard me discuss on previous calls.
• Gross Billings of Security products and services remained a standout, with an increase of 24.4% year-over-year. Security now represents 22.8% of our gross billings on a trailing twelve-month basis.
• Networking showed sequential improvement, and we expect it to benefit from the broader demand environment driven by AI adoption. Our 2023 acquisition of SPG expanded our high-end networking capabilities to better serve customers investing in AI infrastructure.
• Services sales were up 49% , as our investments in high-growth, recurring offerings continue to gain traction as well as the acquisition of Bailiwick. Bailiwick is a great example of our acquisition strategy to broaden our solution set from core to edge, expand our customer base, and add enterprise-level service capabilities.

Topics covered