Welcome to our dedicated page for Climb Global news (Ticker: CLMB), a resource for investors and traders seeking the latest updates and insights on Climb Global stock.
Climb Global Solutions, Inc. reports developments as a value-added global IT distribution and solutions company serving technology vendors, resellers, MSPs, VARs and systems integrators. Through Climb Channel Solutions, Grey Matter and Climb Global Services, the company distributes and supports products in security, data management, connectivity, storage and HCI, virtualization and cloud, and software and application lifecycle markets across the U.S., Canada and Europe.
Recurring news for CLMB covers financial results, vendor distribution partnerships, channel-program expansion and public-sector initiatives such as Climb SLED. Company updates also include portfolio additions in credential security, monitoring and observability, capital actions such as stock splits, and integration of acquired cloud-distribution capabilities.
Climb Global Solutions (NASDAQ:CLMB) will hold a conference call on March 2, 2023, at 8:30 a.m. Eastern time to discuss its financial results for Q4 and the full year ending December 31, 2022. A press release detailing the results will be issued before the call. Interested parties can submit questions to the company via email. The call will be followed by a Q&A session and will be available for replay on the investor relations section of Climb's website. Climb Global Solutions specializes in IT distribution and solutions across various innovative technology sectors in the US, Canada, and Europe.
LogicGate has announced a partnership with Climb Channel Solutions to enhance its presence in the EMEA market. The collaboration aims to assist organizations in managing governance, risk, and compliance (GRC) through Risk Cloud® technology. As 75% of the global population is projected to have privacy protections by 2024, this partnership will help companies address the complexities of security and compliance. LogicGate has previously introduced eight new GRC applications in 2023 and has seen significant growth, boasting a user base that includes Equiniti and Zurich Insurance. The firm was recognized as a 'Strong Performer' in Forrester's recent report on GRC solutions.
Climb Global Solutions (NASDAQ:CLMB) announced its participation in the Sidoti Micro-Cap Conference on January 18, 2023. The management team will conduct virtual 1x1 meetings and present from 2:30 PM to 3:00 PM ET. Interested participants can register for the live presentation via a provided link. Climb Global Solutions specializes in IT distribution and solutions, focusing on emerging technologies across the US, Canada, and Europe. Its business units include Climb Channel Solutions, Grey Matter, and CloudKnowHow, serving various sectors including Security and Data Management.
On November 7, 2022, Climb Global Solutions (NASDAQ:CLMB) announced the appointment of Mrs. Kimberly S. Boren to its Board of Directors. This brings the board back to seven members, with six being independent. Boren has over 25 years of experience in finance, having served in leadership roles at Learfield, Experian, and Honeywell, and played a vital role in M&A transactions. Her expertise is expected to enhance Climb's financial reporting and governance as the company pursues growth strategies.
Climb Global Solutions reported Q3 2022 net sales of $76.3 million, marking an 11% increase year-over-year. Adjusted gross billings rose 17% to $264.3 million. Gross profit increased 19% to $13.5 million, while net income decreased slightly to $2.2 million or $0.50 per diluted share. Excluding foreign exchange effects, net income was $2.6 million. SG&A expenses grew to $9.8 million, with a resulting 16.5% net income margin. The company remains optimistic about its growth trajectory following the acquisition of Spinnakar and a successful rebranding.