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Mar 31, 2024
Climb Global Solutions Q1 2024 Earnings Report
Net sales increased by 9% year-over-year reaching $92.4 million, while adjusted gross billings rose by 16% to $355.3 million.
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
Climb Global Solutions Revenue by Segment
Revenue by Segment
Distribution Gross Billings Revenue
CapyFin.comSolutions Gross Billings Revenue
CapyFin.com 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income