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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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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