Climb Global Stock Price, News & Analysis

Climb Channel Solutions, a subsidiary of Climb Global Solutions (NASDAQ: CLMB), has awarded Freshworks the Strategic Partner of the Year award at its 2025 Climb Partner Conference in Miami. The recognition highlights the successful partnership between the two companies in delivering IT service and customer service solutions.

The award, presented by Carlos Rodriguez to Chase Bertrand and Logan Romaine from Freshworks, acknowledges their joint commitment to growth and channel value creation. Freshworks has strengthened its market position through innovation and expansion, including the acquisition of Device42 to enhance its IT service management portfolio.

Laura Padilla, SVP of Channels and Alliances at Freshworks, emphasized their focus on providing enterprise-grade solutions without complexity, while Climb Channel Solutions CEO Dale Foster praised Freshworks' channel-first approach and the partnership's momentum in delivering growth.

Climb Channel Solutions, a subsidiary of Climb Global Solutions (NASDAQ: CLMB), has announced a new distribution partnership with Darktrace, a global leader in AI cybersecurity. The agreement enables Climb to distribute Darktrace's AI-powered cybersecurity products across North America.

Darktrace's ActiveAI Security Platform offers proactive cyber resilience through real-time threat detection and autonomous response, protecting cloud, email, identities, operational technology, endpoints, and network infrastructure. The platform currently serves nearly 10,000 customers across various industries globally.

The partnership aims to enhance cybersecurity offerings for Climb's resellers and their clients, while expanding Darktrace's market presence in North America. The collaboration focuses on delivering AI-powered cybersecurity solutions to address evolving threat landscapes.

Climb Global Solutions (NASDAQ:CLMB) reported record financial results for Q4 and FY 2024. Fourth quarter highlights include: net sales up 51% to $161.8M, net income increased 33% to $7.0M ($1.52 per share), and adjusted EBITDA grew 75% to $16.1M.

Full year 2024 performance showed substantial growth with net sales rising 32% to $465.6M, net income up 51% to $18.6M ($4.06 per share), and adjusted EBITDA increasing 61% to $39.6M. The company's gross billings reached $1.8B, up 42% from 2023.

The company completed the acquisition of Douglas Stewart Software & Services (DSS) on July 31, 2024, which was immediately accretive to earnings. The Board declared a quarterly dividend of $0.17 per share, payable March 21, 2025. As of December 31, 2024, the company maintained a strong balance sheet with $29.8M in cash and minimal debt of $0.8M.

Climb Global Solutions (NASDAQ:CLMB) has announced its upcoming conference call to discuss financial results for the fourth quarter and full year 2024. The call is scheduled for Thursday, March 6, 2025, at 8:30 a.m. Eastern time.

The company will release its financial results via press release before the conference call. Management will host the call, which will include a question-and-answer session. Investors can submit questions in advance by emailing CLMB@elevate-ir.com.

Participants can join using the toll-free number (800) 225-9448 or international dial-in (203) 518-9708 with Conference ID: CLIMB. The call will also be available via webcast, and a replay will be accessible through the investor relations section of Climb's website at www.climbglobalsolutions.com.

Climb Global Solutions (NASDAQ:CLMB) has announced the appointment of John McCarthy as the new Chairman of its Board of Directors, effective January 28, 2025. McCarthy, who has served as a director since June 2019 and chairs the Compensation Committee, succeeds Jeff Geygan, who will resign effective February 28, 2025.

McCarthy brings over 30 years of executive technology leadership experience, having previously served as President and CEO of Mainline Information Systems and held senior executive positions at EMC, StorageApps, CNT, McData, and Virtual Iron. He currently serves on the Operating Board for Stripes Group and the Board of Trustees for Providence College.

Following Geygan's departure, the Board will be reduced to six members, with five meeting Nasdaq's independence standards.

Climb Channel Solutions, a subsidiary of Climb Global Solutions (NASDAQ: CLMB), has announced two key leadership promotions. Kim Stevens has been elevated to Chief Marketing Officer (CMO) from her previous role as Vice President of Worldwide Marketing, while Charles Bass transitions from CMO to the newly created position of Chief Alliances Officer (CAO).

The company has also revealed over 12 internal promotions during their recent Sales Kickoff event themed 'Run With Us'. Stevens will focus on developing marketing strategies to enhance Climb's global presence and support reseller growth. Bass, who served as CMO for four years, will concentrate on expanding strategic partnerships and identifying emerging brands in his new CAO role.

CEO Dale Foster emphasized that these promotions reflect Climb's commitment to nurturing internal talent and adapting to the evolving technology landscape. The company specializes in Security, Data Management, Connectivity, Storage & HCI, Virtualization & Cloud, and Software & Application Lifecycle distribution services.

Climb Global Solutions (NASDAQ:CLMB) has appointed Matthew Sullivan as its new Chief Financial Officer, effective January 10, 2025. Sullivan, who previously served as the company's Chief Accounting Officer, succeeds Andrew Clark, who is retiring but will remain as an advisor until April 15, 2025, to ensure a smooth transition.

Sullivan joined Climb in 2019 as Vice President, Corporate Controller, and has been instrumental in overseeing global financial functions and driving the financial diligence process for five accretive acquisitions since 2020. His previous experience includes finance roles at Jackson Hewitt Tax Service and BDO USA, LLP. Sullivan is a Certified Public Accountant with a bachelor's degree in accounting from Kutztown University of Pennsylvania.

Climb Channel Solutions, a subsidiary of Climb Global Solutions (NASDAQ: CLMB), has announced a strategic partnership with Scality, a leader in cyber-resilient storage software. The partnership aims to distribute Scality's enterprise-grade storage solutions across North America, including ARTESCA and RING products.

The collaboration focuses on providing scalable and secure storage solutions optimized for AI data pipelines and protection against ransomware threats. Climb will leverage its extensive network of resellers, VARs, and managed service providers to distribute Scality's portfolio, which includes RING, RINGXP, and ARTESCA solutions.

Climb Global Solutions (NASDAQ:CLMB) reported record Q3 2024 results with significant growth across all key metrics. Net sales increased 52% to $119.3 million, while adjusted gross billings rose 65% to $465.2 million. Net income more than doubled to $5.5 million ($1.19 per share), and adjusted net income reached $7.1 million ($1.55 per share). Adjusted EBITDA grew 96% to $9.9 million.

The company's performance was driven by organic growth in both U.S. and Europe, successful integration of DSS and DataSolutions acquisitions, and deeper relationships with existing customers. The Board declared a quarterly dividend of $0.17 per share, payable on November 15, 2024.