Climb Global Stock Price, News & Analysis

Climb Global Solutions, Inc. (NASDAQ:CLMB) has acquired Douglas Stewart Software & Services, (DSS) for $20.3 million, with a potential post-closing earn-out. This acquisition strengthens Climb's presence in North America and enhances its offerings in the education sector. DSS, a Wisconsin-based specialty distributor, focuses on SaaS solutions for education customers and reported an adjusted EBITDA of $5.3 million for the trailing twelve months ending June 30, 2024, up 10% year-over-year.

The acquisition brings 20 new vendor partners to Climb, including Adobe, Go Guardian, and Incident IQ. DSS serves over 500 value-added resellers and 250 campus stores across North America in both K-12 and higher education markets. The integration is expected to unlock synergies, cross-selling opportunities, and advance shared cloud marketplace initiatives.

Climb Global Solutions (NASDAQ:CLMB) reported strong Q2 2024 results with net sales up 13% to $92.1 million and net income more than doubling to $3.4 million. The company also announced the acquisition of Douglas Stewart Software & Services (DSS) for $20.3 million, establishing Climb as a leader in the North America education sector. Key highlights include:

- Adjusted gross billings increased 31% to $359.8 million
- Adjusted EBITDA up 48% to $6.9 million
- Quarterly dividend of $0.17 per share declared
- DSS acquisition expected to be accretive to earnings and Adjusted EBITDA

CEO Dale Foster attributed the growth to deepening vendor relationships, adding new technologies, and successful acquisitions. The DSS acquisition adds 20 new vendor partners and expands Climb's presence in the EdTech channel.

Climb Global Solutions (NASDAQ:CLMB), a value-added global IT channel company, has announced its second quarter 2024 earnings conference call scheduled for August 7, 2024, at 8:30 a.m. ET. The company will discuss financial results for the quarter ended June 30, 2024, with a press release to be issued prior to the call. Management will host the call, followed by a Q&A session. Investors can submit questions in advance via email. The call will be accessible via toll-free and international dial-in numbers, with a webcast available on the company's investor relations website. A replay will also be provided for those unable to attend live.

Climb Channel Solutions, a subsidiary of Climb Global Solutions, Inc. (NASDAQ: CLMB), has expanded its GSA IT-70 Contract to include Wasabi Technologies, a leader in Hot Cloud Storage. This addition enhances Climb's government offerings with Wasabi's secure and cost-effective cloud storage solutions. The partnership allows Climb to offer Wasabi hot cloud storage, Wasabi Surveillance Cloud, and Wasabi Account Control Manager through its GSA portfolio.

Wasabi's solutions provide predictable pricing, high performance, and secure cloud object storage, meeting critical compliance requirements for public sector customers. This expansion aligns with the government's need for scalable and budget-friendly data management solutions, accessible through the streamlined GSA Schedule procurement process.

Climb Channel Solutions has announced a strategic partnership with Flashpoint, aiming to enhance security and intelligence capabilities for mission-critical organizations globally. This collaboration focuses on the distribution of Flashpoint's advanced threat intelligence platform, Flashpoint Ignite, through Climb's extensive network. Both companies emphasize the importance of timely and actionable threat data to protect people, places, and assets. Flashpoint's expertise in threat intelligence, combined with Climb's distribution prowess, is expected to deliver significant growth and unparalleled value to their mutual customers, particularly value-added resellers (VARs) and managed service providers (MSPs).

Climb Channel Solutions, a subsidiary of Climb Global Solutions (NASDAQ: CLMB), announced that CRN recognized seven of its women employees on the 2024 Women of the Channel list. Additionally, Climb's VP of Marketing Worldwide, Kim Stevens, was named to the 2024 Women of the Channel Power 100. This list honors women leaders in the technology industry for their innovation, leadership, and contributions to advancing the IT channel. The recognition highlights Climb Channel Solutions' commitment to promoting female leadership within the company and the broader technology industry. The 2024 Women of the Channel list will be featured in CRN Magazine's June issue.

In the first quarter of 2024, Climb Global Solutions reported a 9% increase in net sales to $92.4 million, with adjusted gross billings up 16% to $355.3 million. Despite a decrease in net income and adjusted EBITDA, the company CEO remains optimistic about future growth, acquisitions, and cost synergies. Climb also declared a quarterly dividend of $0.17 per share of common stock.

Climb Channel Solutions, a subsidiary of Climb Global Solutions, received ten prestigious awards in Q1 2024, highlighting its commitment to excellence. The company's dedication to providing exceptional service to partners and customers globally was recognized by industry leaders. Climb's success is attributed to its team's hard work, expertise, and strong partnerships. The awards showcase the company's continued focus on innovation, collaboration, and success in the channel.