• Gross revenue of $3,876.0 million, up 14.9% exceeding guidance
• Net Operating Profit Before Tax up 10.1% to $124.7 million, exceeding guidance
• Continued growth in subscription and recurring revenues, up 22.4%

Dicker Data (ASX: DDR) has released its financial results for the full financial year ended 31 December 2025 (FY25). The company reported gross revenue of $3,876.0 million, up 14.9% on the prior year, exceeding the guidance range. This growth was driven by supportive trading conditions and strong underlying demand, largely as a result of an increase in software subscription revenue, Windows 10 End of Support refresh, and AI-related activity. Net Operating Profit Before Tax was up 10.1% to $124.7 million, reflecting a PBT margin of ~3.2% and also exceeding the guidance range. Net Profit After Tax increased by 8.8% to $85.6 million. The company delivered broad-based growth across all key segments, led by software, which grew 21.0% year-on-year and now represents approximately 30% of revenue. There was also strong growth in end-point solutions, access and surveillance, and advanced solutions. The company's balance sheet remains sound, with improved net debt, strong cash generation, and disciplined working capital management. Dicker Data will transition to a revised dividend payout framework of between 80% and 100% of NPAT commencing in FY26, providing ongoing certainty for shareholders while allowing greater flexibility to support the company's growth objectives.

Dicker Data provided the following guidance for FY25: Gross Revenue of $3.7 - $3.8 billion and Net Operating Profit Before Tax of $120 - $124 million. The company exceeded the top end of this guidance range.

The company enters 2026 with a positive outlook, particularly as AI and related opportunities continue to materialise and SMB technology spend recovers. Dicker Data remains confident in its positioning as spending on AI, data infrastructure, cybersecurity and software accelerates.