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Sep 30, 2020
Climb Global Solutions Q3 2020 Earnings Report
Net sales increased and strategic acquisitions were announced.
Key Takeaways
Wayside Technology Group reported a 16% increase in net sales to $60.9 million for Q3 2020, driven by improvements in both net sales and gross profit. The company continued its integration of Interwork and added several new vendors. They also announced the acquisition of CDF Group to expand into the EMEA market.
Net sales increased 16% to $60.9 million compared to $52.4 million.
Gross profit increased 3% to $7.2 million compared to $7.1 million.
Net income was $0.5 million or $0.13 per share, compared to $1.4 million or $0.32 per share.
Adjusted EBITDA was $1.9 million compared to $2.4 million.
Revenue by Segment
Forward Guidance
The company plans to build upon sales momentum as the business and industry continue to stabilize, capitalizing on the predicted recovery in global IT spend.
Positive Outlook
- Building upon sales momentum
- Business and industry continue to stabilize
- Continuing to build market awareness following the Lifeboat rebrand to Climb Channel Solutions
- Onboarding new vendors
- Deepening relationships with current partners
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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