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Jun 30, 2024
Climb Global Solutions Q2 2024 Earnings Report
Reported solid growth and improved profitability driven by double-digit increase in net sales and material increases in adjusted gross billings, net income and adjusted EBITDA.
Key Takeaways
Climb Global Solutions reported a strong second quarter with a 13% increase in net sales to $92.1 million. Net income more than doubled to $3.4 million, and adjusted EBITDA increased by 48% to $6.9 million. The company also announced the acquisition of Douglas Stewart Software & Services, LLC to expand its offerings in the North America education sector.
Net sales increased 13% to $92.1 million.
Adjusted gross billings increased 31% to $359.8 million.
Net income increased more than 2x to $3.4 million, with earnings per diluted share at $0.75.
Adjusted EBITDA increased 48% to $6.9 million.
Climb Global Solutions
Climb Global Solutions
Forward Guidance
The company anticipates the increased amortization expense associated with the ERP will be offset through planned operating synergies in our global platform.
Positive Outlook
- Continue driving strong organic growth.
- Further improving operating leverage through the recent implementation of our new ERP.
- Evaluate M&A opportunities that can enhance our service and solutions.
- Evaluate M&A opportunities that can enhance our geographic footprint.
- Robust balance sheet will enable us to deliver on both our organic and inorganic growth objectives in 2024 and beyond.
Challenges Ahead
- Increased amortization expense associated with the ERP.
- Our ability to recognize the anticipated benefits of the acquisition of Douglas Stewart Software & Services, LLC
- The continued acceptance of the Company’s distribution channel by vendors and customers
- The timely availability and acceptance of new products
- Factors that affect the software industry in general