• Gross revenue growth of 2.9% to $3.37 billion
• Recurring gross software sales grew 7.5% to $895.2 million
• Profit before tax of $113.2 million, down 2.8% year-over-year

Dicker Data reported its FY24 results, with gross revenue growing 2.9% to $3.37 billion and recurring gross software sales increasing 7.5% to $895.2 million. Gross profit margin remained flat at 9.6%, while net profit margin declined to 3.4%. The company's Australian business grew 3% in gross sales, while New Zealand grew 1.9% with improved gross margins. Dicker Data continued to diversify its vendor portfolio, with the top 5 vendors now accounting for 42% of sales, down from 90% in FY12. Looking ahead to FY25, the company highlighted several growth drivers, including the materialization of the Windows 10 refresh opportunity, increased demand for higher-value AI-enabled PCs, and growing cybersecurity revenues. The company expects revenue growth to moderate as the year progresses, but profitability is expected to strengthen as the business rebalances towards the SMB and mid-market segments.

The company expects revenue growth to moderate as the year progresses, but profitability is expected to strengthen as the business rebalances towards the SMB and mid-market segments.

Dicker Data highlighted several growth opportunities in FY25, including the materialization of the Windows 10 refresh, increased demand for AI-enabled PCs, and growing cybersecurity revenues. The company expects revenue growth to moderate but profitability to strengthen as the business rebalances towards the SMB and mid-market segments.