Climb Global Solutions Q1 2024 Earnings Report
Key Takeaways
Climb Global Solutions reported a 9% increase in net sales to $92.4 million and a 16% increase in adjusted gross billings to $355.3 million. Net income was $2.7 million, or $0.60 per diluted share, while adjusted EBITDA was $5.5 million. The company experienced softer volumes across select key vendors, but expects growth in the back half of the year.
Net sales increased 9% year-over-year to $92.4 million.
Adjusted gross billings increased 16% year-over-year to $355.3 million.
Net income was $2.7 million, or $0.60 per diluted share.
Adjusted EBITDA was $5.5 million.
Climb Global Solutions
Climb Global Solutions
Forward Guidance
Climb Global Solutions anticipates continued organic growth, integration of DataSolutions, ERP implementation benefits, and active M&A to drive adjusted EBITDA growth exceeding the increase in adjusted gross billings.
Positive Outlook
- Driving organic growth with current vendors.
- Adding new, cutting-edge technologies.
- Uncovering cost synergies and cross-selling with DataSolutions.
- ERP implementation to drive operating efficiencies.
- Active M&A to enhance offerings and expand presence.
Challenges Ahead
- Softer volumes across select key vendors due to timing of sales cycles.
- Key vendor from DataSolutions acquisition affected bottom line in Q1.
- Increased SG&A expenses related to DataSolutions.
- Key vendor sales cycles impacted adjusted EBITDA.
- Effective margin decreased due to increased SG&A and sales cycles.