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Jun 30, 2023
Climb Global Solutions Q2 2023 Earnings Report
Reported a 20% increase in net sales and ninth consecutive quarter of profitability improvements.
Key Takeaways
Climb Global Solutions reported a 20% increase in net sales to $81.7 million and a 4% increase in Adjusted EBITDA to $4.7 million. The company made strategic investments in operating systems, new personnel, and training and development to reinforce infrastructure for future growth. They believe they are well equipped to deliver growth and profitability objectives in both the U.S. and abroad.
Net sales increased 20% year-over-year to $81.7 million.
Adjusted gross billings increased 14% year-over-year to $274.7 million.
Gross profit increased 10% year-over-year to $13.7 million.
Adjusted EBITDA increased 4% year-over-year to $4.7 million.
Climb Global Solutions
Climb Global Solutions
Forward Guidance
Company believes that it has a solid foundation in place to continue driving organic growth with existing vendors while adding new, innovative vendors to its line card. They will also continue to evaluate M&A opportunities that can enhance service and solutions, in addition to geographic footprint and will enable execution of organic and inorganic growth objectives in 2023.
Positive Outlook
- Driving organic growth with existing vendors.
- Adding new, innovative vendors to the line card.
- Evaluating M&A opportunities to enhance service and solutions.
- Enhancing geographic footprint.
- Executing organic and inorganic growth objectives in 2023.
Challenges Ahead
- Continued acceptance of the Company’s distribution channel by vendors and customers
- The timely availability and acceptance of new products
- Product mix, market conditions, competitive pricing pressures
- The successful integration of acquisitions
- Contribution of key vendor relationships and support programs, inflation, as well as factors that affect the software industry in general