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Dec 31, 2021
Climb Global Solutions Q4 2021 Earnings Report
Wayside Technology Group's Q4 2021 results were reported, featuring record net sales, gross profit, net income, adjusted EBITDA, and EPS at $0.78 per share.
Key Takeaways
Wayside Technology Group reported record fourth quarter and full year 2021 results, driven by organic growth, new vendors, and the acquisition of CDF Group Limited. Net income for Q4 increased by 36% to $3.4 million, or $0.78 per diluted share, while adjusted EBITDA increased by 17% to $5.1 million.
Adjusted gross billings increased 16% to $262.1 million.
Net sales increased 6% to $75.5 million.
Gross profit increased 20% to $12.6 million.
Net income increased 36% to $3.4 million or $0.78 per diluted share.
Climb Global Solutions
Climb Global Solutions
Forward Guidance
Wayside expects to generate another record year of results in 2022 and will remain steadfast in executing its core growth initiatives.
Positive Outlook
- Ramping several new vendor additions to the line card, including IRONSCALES, Sonatype and Vultr.
- Became an approved vendor for the National Cooperative Purchasing Alliance (NCPA) in January.
- NCPA partnership allows Wayside to leverage cooperative purchasing contracts and nationwide agency network.
- Deliver best-in-class security and IT solutions across multiple sectors, including government, healthcare and education.
- Strong foundation in place to support the emerging vendors in our network and pipeline across the globe.