Climb Global Solutions Q3 2024 Earnings Report
Key Takeaways
Climb Global Solutions reported a strong third quarter with net sales up 52% to $119.3 million, adjusted gross billings up 65% to $465.2 million, and adjusted EBITDA up 96% to $9.9 million. The company's performance was driven by organic growth and the integration of DSS and DataSolutions.
Net sales increased 52% to $119.3 million.
Adjusted gross billings increased 65% to $465.2 million.
Net income increased more than 2x to $5.5 million, or $1.19 per diluted share.
Adjusted EBITDA increased 96% to $9.9 million.
Climb Global Solutions
Climb Global Solutions
Forward Guidance
The company will continue to leverage its global infrastructure to foster organic growth while actively evaluating M&A targets that complement its geographic footprint, expand its service and solution offerings and, most importantly, align with its high-performance culture. They expect to unlock additional synergies from acquisitions and further improve operating leverage as they execute across their global platform. They believe that these initiatives, coupled with a proven track record of accretive M&A, will enable them to close out 2024 on a strong note and achieve another year of record results.
Positive Outlook
- Leveraging global infrastructure to foster organic growth.
- Actively evaluating M&A targets.
- Expanding service and solution offerings.
- Aligning with a high-performance culture.
- Unlocking additional synergies from acquisitions.
Challenges Ahead
- Risk of not recognizing anticipated benefits of acquisitions.
- Continued acceptance of the Company’s distribution channel by vendors and customers.
- Timely availability and acceptance of new products.
- Competitive pricing pressures.
- Successful integration of acquisitions.