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Dec 31, 2020
Climb Global Solutions Q4 2020 Earnings Report
Wayside Technology Group's Q4 2020 performance saw record net sales, gross profit, and gross billings, with net income increasing by 25% and adjusted EBITDA rising by 44%.
Key Takeaways
Wayside Technology Group reported record fourth quarter and full year 2020 results, driven by growth across key financial metrics. Net sales, gross billings, and gross profit reached record levels, and the company made progress in its recovery from the pandemic's mid-year lows.
Net sales increased 17% to $71.4 million compared to $60.9 million.
Gross profit increased 34% to $10.5 million compared to $7.9 million.
Net income increased 25% to $2.5 million, or $0.58 per share, compared to $2.0 million, or $0.45 per share.
Adjusted EBITDA increased 44% to $4.4 million compared to $3.0 million.