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Westcon International Limited Announces Full Year 2024 Results
London, United Kingdom (May 28, 2024) - Westcon-Comstor, a global technology provider, has reported significant financial growth for the fiscal year ending February 29, 2024 (FY24).
Total revenue increased by 8% to $3.69 billion, driven by robust software performance. Gross profit saw a 23% rise, reaching $403 million, with notable growth in cybersecurity and networking. Recurring revenues grew by 24%, now representing 44% of total revenue. Adjusted EBITDA improved by 26% to $120.2 million, indicating greater operational efficiency.
The company launched the Amazon Web Services (AWS) Marketplace program and acquired Rebura, enhancing its cloud capabilities. The data-driven Partner Insights tool also debuted, providing valuable performance metrics for partners.
Westcon-Comstor continues its strategic focus on cybersecurity and networking, positioning itself for sustained growth despite market challenges such as high inflation and geopolitical tensions.
R. P.
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