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Sep 30, 2021
Climb Global Solutions Q3 2021 Earnings Report
Wayside's third quarter results reflected strong growth and profitability driven by organic growth initiatives and the integration of CDF.
Key Takeaways
Wayside Technology Group reported a 13% increase in net sales to $68.9 million and a 56% increase in gross profit to $11.3 million. Net income increased more than 4x to $2.4 million or $0.55 per diluted share. Adjusted EBITDA more than doubled to a record $4.2 million.
Net sales increased 13% to $68.9 million.
Adjusted gross billings increased 33% to $226.9 million.
Gross profit increased 56% to a record $11.3 million.
Adjusted EBITDA more than doubled to a record $4.2 million.
Climb Global Solutions
Climb Global Solutions
Forward Guidance
The company expects to exit 2021 on another high note in the fourth quarter and carry their momentum into next year.
Positive Outlook
- Expect to exit 2021 on another high note in the fourth quarter.
- Carry momentum into next year.
- Investments made in the business are beginning to generate solid operating leverage.
- Investments are leading to bottom-line margin expansion.
- Actively identifying acquisition opportunities to enhance geographic footprint.
Challenges Ahead
- Still have room to further improve.
- Potential adverse effect of the current pandemic of the novel coronavirus, or COVID-19, on the Company.
- Impact on the global economy.
- Impact on financial markets.
- Uncertain future developments.