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Mar 31, 2023
Climb Global Solutions Q1 2023 Earnings Report
Climb Global Solutions' first quarter results for 2023 were reported, featuring a 19% increase in net sales to $85.0 million and a 23% increase in net income to $3.3 million.
Key Takeaways
Climb Global Solutions reported a strong first quarter in 2023, with significant growth in net sales, gross profit, net income, and adjusted EBITDA. The company's performance was driven by organic growth and the integration of Spinnakar.
Net sales increased by 19% to $85.0 million.
Adjusted gross billings increased by 29% to $306.7 million.
Gross profit increased by 27% to $15.2 million.
Adjusted EBITDA increased by 33% to $5.7 million.
Climb Global Solutions
Climb Global Solutions
Forward Guidance
Climb Global Solutions is well-positioned to continue driving organic growth and further improving operating leverage. The company will continue to diligently evaluate M&A opportunities that can enhance its global footprint and strengthen its service and solution offerings.
Positive Outlook
- Continue driving organic growth
- Further improving operating leverage
- Strong balance sheet
- Evaluate M&A opportunities to enhance global footprint
- Strengthen service and solution offerings