Climb Global Solutions, Inc. ( (CLMB) ) has released its Q3 earnings. Here is a breakdown of the information Climb Global Solutions, Inc. presented to its investors.
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Climb Global Solutions, Inc. operates as a value-added global IT distribution and solutions company, focusing on emerging and innovative technologies across the Security, Data Management, Connectivity, Storage & HCI, Virtualization & Cloud, and Software & ALM industries.
In its latest earnings report for the third quarter of 2024, Climb Global Solutions announced record financial results, with significant growth across various financial metrics including net income, adjusted net income, and adjusted EBITDA.
The company reported a 52% increase in net sales to $119.3 million and a 65% rise in adjusted gross billings to $465.2 million. Net income more than doubled to $5.5 million or $1.19 per share, while adjusted net income similarly increased to $7.1 million or $1.55 per share. Adjusted EBITDA saw a substantial 96% growth, reaching $9.9 million, driven by successful acquisitions and organic growth.
Climb’s management highlighted the successful integration of recent acquisitions and the expansion of relationships with both existing and new vendors. The company maintains a positive outlook, aiming to leverage its global infrastructure for further organic growth and strategic acquisitions, expecting to close out 2024 with another record year.
