NSIT - Earnings call transcript Q4 2021 | Insight Enterprises, Inc.

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Operator

Ladies and gentlemen, thank you for standing by and welcome to the Insight Enterprises, Inc. Fourth Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a Question-and-Answer session. [Operator Instructions] I would now like to hand the conference over to your speaker today, CFO Glynis Bryan. you. Thank ahead. go Please

Glynis Bryan

December thank is Today, joining the we the Executive Insight, year results And Chief Glynis Earnings Officer Officer. Mullen, Financial Company's Insight President Conference for of ended full and Call. will joining quarter XXXX. you everyone. I'm the Bryan, me for and Enterprises operating XXst, Joyce Welcome, be Chief discussing and

quarter as we fourth Insight call retransmission, express the refer to form a for call today, on written the will morning and is referring be conference release will and do find have at to February copy with approximately two X-K, call call, as information was call a webcast XXXX. discussing or website any earnings adjusted. the call, full-year Relations of accurate prohibited. call Investor strictly not we contains and non-GAAP the non-GAAP webcast that time. results. Form available accompanying or our live time-sensitive XXth, on accessed of you will insight.com remain rebroadcast insight.com. and This be This completion of Relations conference discuss If after website a posted that it of Securities When Today's of and redistribution, the without period measures we can limited our of And the this property is filed our the Enterprises, on in associated any will page website Exchange the only today's consent at is presentation slide copy the section. this of is XXXX including conference Insight tech on being the them of by In question-and-answer hours Commission measures, financial as our financial will be you the Enterprises Investor and

release results all constant will the included Please adjusted that rates find as slide growth presentation issued GAAP earlier and actual U.S. in today. to measures press discussed in currency, or these You amounts the of either note our highlighted are term. dollar a accompanying unless reconciliation

obligation forward-looking that conference of call to These differ periodic in subsequent that our this reminder, could actual are statements And Joyce? risks four. are and statements made as to events, the of results slide and the now call All made will today's no SEC. update begin statements cause will presentation, any a uncertainties filed law, with new as and call are if in over whether a I following slide and information, materially. you're most As to our all undertake as are release Joyce. risks press date recently detail this on greater made discussed forward-looking that, otherwise. except With along this we we filings to with on the of reports or the call, subject forward-looking future required in during turn by result

Joyce Mullen

so you to full-year everyone. honored operating results. today as and for of our the discuss very Glynis. And you am much, excited fourth-quarter thank you and today I joining Thank address XXXX very Insight. to Hello, CEO us

and with XXXX of and a results could minutes. in was across I about Insight to challenging on be teammates at talk more to in collaboration the globe. teammates commitment thank and year ways our a First like I our I work focus not tumultuous their our with strong results. clients, prouder our the few would delivering all, for to partners the perseverance dedicated their will so and many

the most our of which Modern migrating clients of Cloud model. AI, business applications Cloud. Insight by and replacing level of vital ever Technology of to customer operations digital we operating that solutions applications The We entered bigger solutions digital is completely is an need technology and by and and with actually which as Data our in the essential processes information to the deep Insight. today. you transformation, high in is hybrid transformation, accelerated and services. implement, requires models, of market and across maximize software, is with the transformation. need are a are with greater way edge incredibly strong set expertise. experiences, have demand next-generation to a it in Many technical capabilities office has become multi-cloud infrastructure, which enable me opportunity than required analysis. portfolio modern Modern the and the transform intelligent Cyber estimated transform ' the to the to hybrid a Cloud leverage We well vertical we expertise solutions value for has expertise. front world decision-making which expertise drive the remote efficient in to of help and a traditional our a options secure, to over our areas hardware Today, technologies. us. of manage can environment work Let incredible which at require clients Fueled that and differentiated to start the workplace years. which We ago, IT their as the before. for reseller, but area product exciting of gathers two saw a that space last space they for a help businesses. the the That shift the moves their data familiar transformation our team security, organizations number And than edge, Ken and complex history all critical solutions real-time the for market organizations are positioned of six coming. leadership and are the that driven which public the architect, years with clients to critical become

simplify and and streamline outcomes. ' clients digital standardized goals And to the which aligned which Professional processes our delivered solutions through and tools global align hardware and which of chain employee scope across Consulting cycles. life business are strategies. services. Our supply consistent resources services costs services, and deliver and software cycle a broad managed services life

specifically seeking Insight For tight across for example, of one applications footprint. remove maintenance administrative to internal and managed to This implemented all reduce Slide clients to cloud one wanted burden client communications was its very established communications as-a-service locations and off-premises X,XXX datacenters The a This and with client solution system support wanted teams. We to client also on designed the from the spending. timeline. also of centrally ongoing and to existing one reduce locations. on-site decommission Insight's its shift across X its to unify

one client expertise. really service is This of experience are resources is and environment is expand They just every their experiences. client with sustainably strategy a our -- reduce to within are Insight. Cloud areas its maintenance customer Our burdens continuing a and we now adjacencies as grow provided working communications makes to to the accelerate from our client benefits as new The by go-to-market ongoing of What of and to communications is internal able quickly, impactful example and level. clients how adoption management solutions unified the business improve at Cloud costs and demand. ability

we to employee their not ability and but improve with only guide their help the is framework. large digital through immediate enhance application transformation. today, them operations longer-term for modern same retailer have the to results at clients of time, X an We Slide global deliver the experience how example a

on legacy accuracy needed project Insight As employee service. that access the the they life managing Today, system help, create the every employees applications is immense, maintain wanted and With opportunity client were value their this to to them of client drive Insight, existing service while our At them. and program. project, to hundreds modernize customer customer into new support. the our processes efficient devices scale they and now an front of and on relied thousands client, Insight and end. And efficiency and an the entire and stocking. to At giving expensive improving interaction put automated for The difficult of of to support have is customer cycle is hands. devices has back-end moderate experiences of beginning and

become make them own their for goal partner choice of results delivering they and to way agendas. transformation their expertise Our through as their is to

Made pandemic. the I As teammates again, a year. once challenging by by faced our complicated more global presented in much XXXX, earlier, said difficulties in constraints supply

we navigated That adeptly the and solving on macro-environment uncertainty adjusted teammates of was focus records full-year gross XXXX, profit earnings company net and results. Our operations, for challenges. our earnings set maintained focus annual share. per technology diluted for from adjusted the clients basis in biggest On an sales, reflected our

We onto in and began play driving in our sales and team delivering of to we EMEA and great and our talent. multi-year client systems, a experience. common our year, all critical investments the of this processes. a modernize at program These tools, outcomes Early business on-boarding year, role During experience. global teammates made core our the teammates Insight's our technical IT e-Commerce clients completed partners

to XXX Our Forbes companies in XX focus at key number recognition list the development ranked for for world's acknowledged XXth well-being, and overall, continued We're and employers be on inclusion year. leadership Teammate IT on and with diversity. culture, XXXX, this diversity best Insight

on Human from index. also quality We Slide around the foundations our we score recognition's achieved X. Rights and perfect partners achieved the Campaign shown notable as on a corporate And XXXX X globe

of of us. proud very are focused these we ahead we're the opportunities on While accomplishments,

We an slide Day but business nine. Investor hosting the meantime, primary goals in be will four on quarter, fourth our the in

We delivering and becoming four first, innovative business, their expertise, differentiated loyalty solutions solutions with industry-recognized profitable solution our culture. teammates, by and and supported by opportunities greater obsessed clients, leveraging in broad expanding is business through partners, our and that X. the outcomes client an portfolio, exceptional loyalty. integrator. excellence global to skills, areas in to better, and people, delivers Insight partner being X. our grow solutions. X. and transformation our and personal technical so of earn our goals we by growth a Drive These This of six have all client value high-value lives. results. We our stronger client on operational invest they Our deliver leadership professional integrated and Champion relationships. to solutions Lead our shareholders systems. earn client contribute services people a teammates to

up that the principles technology harmony to recently annual within comparable fair anti-corruption doing hunger, ability rights, practices, values resource corporate our scale, to culture We communicate. of the posted Our good, is and committed human protecting Nobel report. We legal and greatest sustainability. We innovate, are for to purpose-driven company. automate, causes citizens believe remain magnifying the of heart our of living foundation and our for

be to culture understanding making of their versions of impact better team best a gain servant I the and living am teammates diversity so the by will proud on of leadership themselves our the of Insight's positive community. about our part reading You and stories a a embraces that communities. global

our I the results. over financial full-year our will call turn Now, to back quarter Glynis review and to

Glynis Bryan

of became Thank available. led the they focus levels and our their you, second clients we rapid In as were pandemic, supply the it continued Joyce. on exiting needs chief the helping year and that bookings XXXX. backlog ensured forecast This to to

XXXX, For in industry hardware. growth expect low analysts single-digit

we're hardware first our to quarter compared year-over-year, elevated backlog, quarter, quarter XXXX Also, in XXXX. However, double-digit the in bookings exited North in of improve primarily seeing America. the first fourth we North with America

will the benefit of first We this expect XXXX. half that

Gross also XX for and slide in in $X.X results, This of up gross to record in constant the quarter currency -- net year-over-year U.S. dollars were to represented quarter XXXX. margin year-over-year XX%. $XXX million in up our compared in Insight. increased and XX% XX% consolidated sales to of XX% constant were XX% sales expenses profit SG&A XX us dollars. and up for on billion net net fourth currency the Moving was fourth our

net of As XX% a SG&A basis million. on operations per GAAP was $X.XX diluted Adjusted year consistent with year-over-year, sales was a An -- $XXX for on per GAAP increase gross an of prior million earnings records XX% GAAP company to share a sales, basis prior XX.X% XX% annual We with year. a and were which operations, as services a $XX net billion focus earnings Joyce of earnings net net on sales, up and we basis for also SG&A XX%. adjusted leading maintained and adjusted XXXX, sales $X.XX earnings from XX% year-over-year. a also Annual grew was of On XX% basis, per share profit, also adjusted consistent from diluted also up up XX% up as an adjusted mentioned, year-over-year. percentage with set on was share. percentage was $X.X

year full up was XX% $X.X for XX.X% year was of margins billion Gross of from profit gross XXXX. XX.X%. compared Our the last to

compared -- expenses constant gross combined rate Our XX% Services XX% year-over-year. in consolidated gross grew year-over-year up of profit of by XXXX. Infrastructure-as-a-Service were driven in profit and XX% in in XXXX gross growth XX% with XX% profit SaaS a Cloud Gross currency to U.S. and profit gross X% was dollars. SG&A

adjusted and XXXX of was SG&A XX.X% down XXXX. for of our XX.X% below XX.X% As guidance a net sales, percentage in from

down basis year-over-year. earnings As were up a result SG&A points Adjusted sales, on XX.X%, million, and of was basis XX from $XXX million to a compared net $XXX a XX% year-over-year, XX% GAAP per basis. a XX% GAAP of share down increase up earnings a GAAP versus $X.XX, adjusted basis, from per an earnings $X.XX in share XX%. increase operations on was diluted And operations on

consolidated XX% profit, our were representing stated of gross for were XX%and our cloud Our net provider and Cloud service in Cloud included exclusive in profit respectively, our of year, compares XX% any and the Tier results which year results quarter the this respectively, two sales, to Cloud prior results. full previously gross XX%

compatibility, Cloud the reporting more financial increases sales For on Cloud reporting focus elements. service growing part our U.S. faster we're category. related of This within ongoing software and signs our and GAAP as historical product net the provider

the And was Moving net XX% fourth-quarter of on Gross billion, each sales. starting products increased year-over-year, flat was XX% and This XX% results the record services the mix were on XX, by North net increase sales a of gross of fourth North margin driven up hardware $X.X year-to-year. by in quarter. driven operating segments. America results to of in XX.X% operating our in and Insight the for slide year-over-year quarter in America profit relatively with

and to compensation grew $XX Adjusted million. from operations business. As sales. $XX XX% net to GAAP exited Selling operations increased X% the grew year-over-year, from I from resulting year to the million. variable expenses costs mentioned, and elevated we in year-over-year with by higher administrative driven backlog earnings earnings higher year-over-year personnel X%

XX% Slide fourth Faster XX% XX, margin. than currency. Moving increased currency. onto sales, offset from margin on X% XX.X% [Indiscernible] year-over-year due a an grew earnings in higher-margin constant in the to increase quarter constant grew $XX.X decrease -- also in the in net million. services, XX% currency. earnings of in operations Gross net profit to was operations net sales in by primarily from Adjusted partially constant product GAAP

million led and Now of higher XX%, $XXX.X net constant Slide and from XX, profit year-over-year quarter in quarter. increased million. to to gross all in adjusted of was fourth $XX.X APAC the in sales in GAAP respectively, earnings region. the XX% on currency, million $XX due earnings from This categories operations of operations to $XX million primarily sales across the

was available increase XX% XXXX, rate, of was Moving rate by tax in effective Act XXXX. on our benefits credit. our increased our in compared tax XX.X% partially to the tax in Cares to XXXX The net rate a offset in made result tax by

slide $XXX cash million cash our flow of XX, XXXX. details of XXXX operations the performance $XXX XXXX, in compared of to in on million cash to Turning our generated

business in certain the previously, meaning conversion plant offset to clients. days expenditures As recovered inventory than hardware cash more annual cash XXXX, and our is In in returning inverted, In cycle in hyper-growth we cash of allows historical fourth the to partners faster flow by on following: our sales our us $XX mainly growth, to periods included while cash cash million highlighted from significantly, we operations. shorter we quarter, received technology flow investments. procurement and cycle to our decline, XXXX, terms more invested our capital more is This related drive was improved cycle facility In range our vendors. pair when used payments of have conversion payments we projects, at of year-over-year, than flat partially generation. deferral XX supportive DSO conversion cash strategic a

also from estate million sale assets. proceeds of $XX We in received the real

of common in XXXX. Lastly, stock we of our shares to spent $XX QX repurchase million

We under repurchase continue million our to remaining $XX share authorization. have

XXXX, At almost of cash growth. have was year future of ABL December had capacity we had capacity million billion of notes million million, XX, end ample compared all fund million. the facility had balance balance our the We of we total year, available resident of $XXX $XXX quarter, at $XXX our $XX outstanding we of under the of which and to subsidiaries. cash a senior debt, dollars $XXX to and of foreign convertible end As our in the of including our $X.X prior million debt

we flows X, quarter ABL EBITDA primary which cash fixed to a comfort. slide is on our and of XX which level charge agreement, liquidity covenant is to interest. cover position debt-to-cash trailing month expenditures, ratio, compliance well less times the with on EBITDA, capital Under at X.X within a than exited or taxes, Moving coverage our over our leverage includes

X.X of we're can As support XXXX, year mid-single-digit the deliver we for times on and of December the full net our slide XX, requirement and minimum sales we're growth. expect X times, XX, capital to confident guidance liquidity requirements we

the turn excludes acquisition-related of million, our or million $XX assumes approximately and per for of XXXX $X.XX. We an diluted that back of $XX This I expense to $XX million, full will now Joyce. effective expenditures of severance to completion new headquarters the including and assume of interest expenses. $XX amortization Capital share. be expect for year of final XX% full the and million restructuring share XX.X outlook full year an and $X.XX XXXX. million to acquisition-related expense intangible corporate for between share average to adjusted tax the earnings $XX no XX% call of between year This the count rate million outlook

Joyce Mullen

them their incredible again hunger, in clients harmony. and want concludes comments also thank the for solutions thank trusting that building partners closing, my I and an our our differentiated much questions. line to for help to deliver I want In opportunity. their so their to more had year now businesses. and Insight heart, collaboration innovative This support for open teammates we'll and Insight to And want I is transform there Glynis. you Thank our for results. your then thank

Operator

a We roster. Instructions] Q&A [Operator just will compile to moment pause for the

first with line Matt Stifel. of from question Sheerin is Your the

Matt Sheerin

Good you. Yes, thank morning.

Joyce Mullen

Can start XX% Matt. before a I the sorry, that Can question tax XXXX I actually I'm you realized just for of rate just your I XX%. [Indiscernible] take -- It's

correction that get to like just I up there. So

Matt Sheerin

I Thank outlook Okay. wanted going start. ask sounds like be mid-single-digit fairly Fair you. to enough. of strong It to It sounds you're growth. to the ship regarding year this for your backlog to like off too. there's a

it the like in the you're looks quarter faster So be going in second than first to growing quarter. maybe and that

So relative the being start to factored the guide Why component for there issues Are are conservative? constraints year? conservative you like there? in the

Joyce Mullen

for our guidance question. Matt, a of couple comfortable I'm with Thanks for the reasons.

hundred First we Couple market than the than points all, basis grow of three of faster faster to expect hundred, the in market. mid-single-digits.

hard you're -- correct. absolutely Our year

strong growth, in we very a the a expect of And half for significant bit. second we first expect start couple to hardware One We pretty the sort of And also that have we is in to particularly, compares. reasons. that subside new backlog half. to expect

still the as is first in first quarter. half increasing or in backlog Although the noted you

we improved will see SG&A yield services, also leverage. improved growth We to which expect expect expansion. margin in And

half, So due guidance. with half, in hardware. I'm it different second be to We in first a largely the comfortable bit expect the do to our

Matt Sheerin

was or to a bit should maybe flat relative expect year? out from those And year. which that margin, down How play this mix expectations little last gross Okay. essentially we that, to on

Joyce Mullen

mix some of expect because Yeah, services. margin increased we the in gross expansion

growth of Hardware As we year. past same see saw won't the levels this we growth, Park that

Glynis, expect in we anything? overall. add want to so gross margin that to you result And expansion

Glynis Bryan

that A in low in grew our second for Hardware results, midish specific half if that we expecting year moderator. the year. at and single-digits look Matt, grow second the first is last the the lot you the of of We're half of year XX%. to and half the

faster a at expansion. is at a pace gross XXXX, is in growing pace Services results in slower that in Hardware So XXXX, and growing margin

Matt Sheerin

second be growing half? say Okay. hardware half the the faster that first you would in versus Did the

Glynis Bryan

Yes. comps, [Indiscernible]. right. of of the [Indiscernible] Yes. backlog XXXX and because half Because of first

Matt Sheerin

is Got it. it issues -- why on supply strong? got backlog having Is that are you And the the side?

Glynis Bryan

think we're So times. some yes, the -- some seeing device I lead in improvements

and that device not space. definitely So, quickly the improving, XXX% albeit consistently all is not across

space be We improve this especially to though, in expect of seen the year. that it networking. don't haven't much we will And -- improvement the probably, until the second infrastructure half

Matt Sheerin

talked over lastly, Okay. And your the been in is terms there, regarding your of strength just strategy? What you and last pipeline the about, M&A years there as major balance sheet, two acquisition. it's since the

Joyce Mullen

a market Sure has to frothy companies bit market them continue competencies Matt. we and market right and down that for. look we from come a think to multiples is with are deals nice perspective. being a core That yields of a evaluate of one our now actually at and in little stock regard the little

maybe as to technical they'll that private anticipate in may acquisitions as continue our be out gaps But we some we So and the a arena. the of little following areas have, we whole building that of bit geographic in capability look market the in more looking through at agreed courtship acquisitions, before Insight. scale with acquired know at scale process specifically we be related the we may a by company they as go you control that much timing to the acquisitions to don't that's at well

those continuing all up. are not and let has we efforts So that

Matt Sheerin

answering questions. Great. the Thanks. Thanks for

Operator

Your James. next Raymond line from question is Huntley of Catherine with the

Catherine Huntley

Joyce, Hey, increases can I quarter given you any you with Catherine much pass for the Adam. everybody. Did price for in these reaction able so is component This of And you if to customers? what Thank you. questions on our was today. along? shortages? And the start were taking experience the

Joyce Mullen

chain We the the we shipped around should supply in to accepting talk we've when I of that are shipping enough than to price those supply I constraints more there's about are think though, we product increases. increases our before. say, pretty to ever were me generally see chain constraints, note for pass quarter. easy Yes, along we And did clients. customers those able some price clarity

before. higher the market we ever is up continue demand. product increased While The keep just it's ship trying than more the responding, with than to to is demand supply,

Catherine Huntley

what be Okay, growth. perfect. then color But if as year you Thank margin guidance for implied and look said midpoint, margin at from that that EPS which of you just to services increases about you that so high you implying Would the mid-single-digit growth? dovetailing drop-through. point, growth, a be from revenue much the price in for could that implies question, there or single-digit the was previous that what alluded a

Joyce Mullen

expect ASP higher, will I in I be but a that bit do think in is the mix. biggest of change driver the

expect services margin portfolio So with yield that. more in will see overall will and our revenue, our SG&A of we expansion, also as a help to percentage which expenses leverage

Catherine Huntley

much. so you Thank Awesome.

Operator

Lebiedzinski Your the Anthony next with & of is question Company. Sidoti from line

Anthony Lebiedzinski

morning, about increases, price-increase about just perspective? just extent follow-up thank price for increases can to price from should a questions. first, and the you the quantify XXXX in we guess that the how and think you the the taking I you of quarter Good fourth just perhaps took

Joyce Mullen

big Glynis, were you the how I actually increases price -- in do idea an have of [Indiscernible]?

Glynis Bryan

I don't. that I specifically, question can't Anthony. answer

I think overall were in terms of driver. that not increases significant price results a QX, for our

Anthony Lebiedzinski

Got it.

expected in attract and there that. the retain your you changes Do labor How for for market, clarifying will that about ability for you here. And you of guys? Thanks is Okay. then, And just -- that going talk can talent? tight to terms

Glynis Bryan

Thank you.

the certainly but tight, labor there's really is two sort it. So pieces market of of

very we I much job that that but to continue. that. and have, talented retain to team that expect a say, would highly at First doing better we we than all, good have market, we're and of

digital said, the -- slight is a below always seen have quite And We in the attrition. specifically technical But Cloud talent pretty significantly as we've competitive, market. uptick been in I and space. yes,

of to we in for on aggressive a cost expensive, find work. really more the increased they offers being more that's we're the about but services through to build be we hybrid and around We that but work tap recruitment, are solutions. our are seeing most they and circumstances, that home able have us flexible help contracts. hard helping labor And around from work lot our with also is And

talent talents combination available really, then attract. a we and sure to to have a really a So it's of our retaining tremendous trying opportunity making we're

Anthony Lebiedzinski

your hopefully terms different you and how progresses, what think quarter about in should of as fourth for the the more in that markets. And you. saw country you vertical we opens Got guys? you up, as Can about the year talk

Joyce Mullen

how business? the So offices our -- impact we that the that what Is on do about net the are you reopen, think is question? of asking your as

Anthony Lebiedzinski

Yeah. fourth markets Pretty perform much. does in just And great. you like main Yeah, you if that that, could it? vertical that'd through How just on just address and that that your be did How well. note, to impact as talk, quarter? basically if maybe could go the

Joyce Mullen

really have It's I in guess past. Anthony, verticals the there's don't verticals overall that is us, said would I what is don't discuss what predominant, say that we of as we for about we part our talk vertical operating results, no one

I sometimes end. to clients from don't back your it's some of question that us mix know being return to in the seeing to in a to give some a a go answer answer vertical wouldn't So office from I preparing back not clients perspective, perspective,

in from infrastructure, been Omicron be the where things that and clients. with pushed would I one our networking clients onsite be there, in upgrade side particular of their they're continuing in required teammates to for bandwidth are live their to your the also to they're going related world anticipation is say two have that a out in-office to going to remote be and the to going be work teams better it's will have those to even in with We and office handle and but and able that be their hybrid the to Sometimes I happen. capability general collaboration off our that

Anthony Lebiedzinski

Awesome.

Okay, Thank you. thanks for quarter. the

Joyce Mullen

Thank you.

Operator

line Your Vincent with is of Barrington from final question Colicchio the Research.

Vincent Colicchio

sense What what give Good second half? should -- morning. services the strongest in of some us could you be

Joyce Mullen

Yes, sure.

-- expect nice significant across we We we portfolio. services bookings a -- see entire and the fairly growth have some really because

offers at and of start mentioned, start those we're this expect As a we've -- of sort our the -- lot to mentioned, to delayed. bookings offices there's more And we nice will Glynis office, deploy -- projects modern -- year we to now see clients come back rate. those Lots in higher in growth Glynis of of also some as seen networking as been have in. to a workplace kick bit just a that

So We're to ready we waiting product. on we're go, books. but have them our for

-- emphasis seeing portfolio. And across so well. And quite this infrastructure those that solid we're as strength to at -- modern exciting -- expect I Cybersecurity and is a to the significant be we very note. really So infrastructure we portfolio, cybersecurity, pretty those as as infrastructure rate. lot seeing think across increase the solutions modern you'd on modern expect focus well. to more applications, is growing a which We're also mentioned year

Vincent Colicchio

product what most to hardware-side in offer opportunity the the the gain first share half? on categories, And

Joyce Mullen

making of the biggest are solutions and Well us focus in sort of hybrid continue affecting. the clients we of, on work great our and to that that sure for to environment devices we is offer productivity that

view. a networking the then is, say opportunity significant to from definitely is backlog for gear point record have there And have of I networking there very We and backlog a isn't significant us. setting

with deploy get that opportunity along can a it we I settled lot as and drag there's so us said, a services lot gear. to And of for When of it.

Vincent Colicchio

Glynis, you've per prior talked I think question.

things some about how -- within How segments categories, Enterprise, in too don't versus do example, talk for perform client about how mid-size those much did the those clients. You quarter? of verticals, but

Glynis Bryan

and performance we in a we don't in and in flat large down. it performed large large, enterprise enterprise have on mid-market muted both mid the have down well. really was in but the corporate. year-over-year really QX, is Performance mid-market, categories, little good, was for year, space small, bit is very public But - the a market/corporate strong, Actually that sector, QX small, basis

Vincent Colicchio

answering questions for Thanks nice my quarter. and

Glynis Bryan

appreciate I Thanks. that.

Operator

This concludes your Inc. the XXXX participation. Conference Insight Earnings Quarter Thank Enterprises, Call. you Fourth for

now may You disconnect.

Insight Enterprises (NSIT) 10 Feb 222021 Q4 Earnings call transcript