Financial Report
FY26 full-year results
Gross sales growth and higher profitability amid shift to software and services
The year ended 28 February 2026 (FY26) demonstrated sustained progress against Westcon-Comstor's key financial and strategic priorities, with growth in gross sales, a significant increase in profitability and expanding margins. Cybersecurity continues to be a key growth driver, while the shift to software and services is helping to reduce exposure to structural pricing volatility in hardware markets.
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FY26 half-year (H1 FY26) results
Gross sales climb as cybersecurity drives growth
A strong H1 FY26 saw an increase in gross sales and higher profitability, exemplifying the sustainable growth that Westcon-Comstor has consistently achieved in recent years. Cybersecurity continues to be a key growth driver, while gross sales from networking and cloud also saw year-on-year increases. Software sales climbed sharply amid an ongoing shift to recurring revenues.
FY25 full-year results
Record gross sales fuelled by cybersecurity growth
FY25 marked another year of exceptional financial and operational performance for Westcon-Comstor, with strong progress against our core strategic objectives and a continued relentless focus on delivering partner success. Growth was fuelled by strong performance in cybersecurity and an acceleration in our shift to a recurring revenue model based on software, services and subscriptions.
FY25 half-year (H1 FY25) results
Increase in profitability as shift to recurring revenues accelerates
Against a challenging backdrop of uncertain macroeconomic and market conditions, we maintained our profit growth trajectory with a strong financial performance for the six months to 31 August 2024 (H1 FY25). EBITDA and gross profit both saw a year-on-year increase, alongside strong growth in cybersecurity and an acceleration in our shift to a software, services and subscription-based recurring revenue model.
FY24 full-year results
Strong financial results, propelled by data-driven strategy and shift to recurring revenues
Robust performance in FY24 saw us record a double-digit increase in both gross profit and adjusted EBITDA, with a strong performance in cybersecurity and networking and growth across all regions, fuelled by our data-driven approach and shift to a software, services and subscriptions-based recurring revenue model.
FY24 half-year (H1 FY24) results
Excellent financial performance, maintaining growth trajectory across all regions
We recorded a 14.9% year-on-year increase in first-half revenue to a record US $1.85 billion for the six months to 31 August 2023 (H1 FY24). Gross profit saw a 33.4% year-on-year jump to US $203.7 million, with gross margins increasing to 11.0%. We reported double-digit revenue growth across each of our three operating regions: Europe, Asia-Pacific (APAC) and the Middle East and Africa (MEA).
FY23 full-year results
Record annual revenue, driven by strong cybersecurity and networking growth
We announced an 18.3% year-on-year increase in total revenue to a record US $3.42 billion for the year ending 28 February 2023 (FY23), driven by strong demand for our cybersecurity and networking offerings and an acceleration in our shift to a software and subscription-based recurring revenue model. With our unique data-driven approach driving sales growth in key domains, this was the second consecutive year of double-digit growth in total revenue, with annual revenue exceeding US $3 billion for the first time and CAGR of 8% demonstrating the success of the five-year strategic planning cycle introduced in FY18.
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Westcon-Comstor delivers FY26 growth as shift to software and services accelerates
Announcements
Westcon-Comstor launches SASEvolution powered by Palo Alto Networks to accelerate scalable SASE adoption
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