CLMB...Earnings report came in a bit soft (although not terrible). Taken from the management commentary..."During the quarter we experienced softer volumes across select key vendors, primarily related to the timing of their respective sales cycles. This includes a key vendor from our acquisition of DataSolutions in October 2023. Although this adversely affected our bottom line in Q1, we expect to return to growth with these vendors in the back half of the year." The cc is early tomorrow. Should be interesting.
Climb Global Solutions Reports First Quarter 2024 Results
Q1 2024 Net Sales Up 9% YoY to $92.4 Million, with Adjusted Gross Billings Up 16% to $355.3 Million
EATONTOWN, N.J., May 01, 2024 (GLOBE NEWSWIRE) -- Climb Global Solutions, Inc. (NASDAQ:CLMB) (“Climb”, the “Company”, “we”, or “our”), a value-added global IT channel company providing unique sales and distribution solutions for innovative technology vendors, is reporting results for the first quarter ended March 31, 2024.
First Quarter 2024 Summary vs. Same Year-Ago Quarter
Net sales increased 9% to $92.4 million.
Adjusted gross billings (a non-GAAP financial measure defined below) increased 16% to $355.3 million.
Net income was $2.7 million or $0.60 per diluted share compared to $3.3 million or $0.74 per diluted share.
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