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 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.