Core Insights - Climb has launched a strategic partnership with Fortinet, enhancing its cybersecurity solution offerings and providing significant opportunities for its reseller ecosystem [1][2][3] Company Overview - Climb is a global specialty technology distributor focusing on various IT sectors, including Security, Data Management, and Cloud solutions [8] - Climb is a wholly owned subsidiary of Climb Global Solutions, Inc. (NASDAQ: CLMB) [8] Partnership Details - The partnership with Fortinet allows Climb to offer enterprise-grade security solutions that provide deep automation and real-time protection across devices, data, and applications [2][6] - This collaboration is expected to amplify Climb's impact in the cybersecurity market and support its partners in addressing complex security challenges [3][6] Benefits to Resellers - Climb's reseller ecosystem will gain access to Fortinet's proven security solutions, enabling them to deliver trusted protection and performance to customers across various industries [2][4] - The partnership is designed to foster personalized engagement, allowing resellers to maintain close connections with their customers and provide tailored consultative guidance [7] Strategic Focus - Climb emphasizes a curated cybersecurity portfolio, ensuring that all solutions undergo a rigorous vetting process to guarantee effectiveness and reliability [6] - The company aims to avoid dilution in its offerings by focusing on both emerging innovators and established leaders like Fortinet [7]

Core Viewpoint - Skillsoft Corp. (SKIL) is currently viewed as a better investment opportunity compared to Climb Global Solutions (CLMB) based on various financial metrics and rankings [1]. Group 1: Zacks Rank and Analyst Outlook - Skillsoft Corp. has a Zacks Rank of 1 (Strong Buy), indicating a positive earnings estimate revision trend, while Climb Global Solutions has a Zacks Rank of 5 (Strong Sell) [3]. - The stronger Zacks Rank for SKIL suggests an improving analyst outlook, making it a more favorable option for investors [3]. Group 2: Valuation Metrics - SKIL has a forward P/E ratio of 3.02, significantly lower than CLMB's forward P/E of 21.88, indicating that SKIL may be undervalued [5]. - The PEG ratio for SKIL is 0.30, while CLMB's PEG ratio is 1.82, further suggesting that SKIL offers better value considering its expected earnings growth [5]. - SKIL's P/B ratio stands at 2.12, compared to CLMB's P/B of 4.39, reinforcing the notion that SKIL is more attractively priced relative to its book value [6]. Group 3: Overall Value Assessment - Based on the analysis of various valuation metrics, SKIL has earned a Value grade of A, while CLMB has a Value grade of C, indicating that SKIL is perceived as a better value investment [6][7].

Core Insights - Climb Channel Solutions has announced a strategic partnership with Liongard to enhance managed service providers' (MSPs) capabilities in managing and securing IT environments [1][2]. Group 1: Partnership Objectives - The collaboration aims to provide MSPs with advanced tools for better management and security of IT infrastructures, leveraging Liongard's asset intelligence platform for deeper insights [2]. - Automation features from Liongard will streamline routine tasks for MSPs, allowing them to focus on delivering strategic value to clients [2][4]. Group 2: Company Statements - Chessie Huber from Liongard emphasized that the partnership aligns with their mission to empower the ecosystem by equipping providers with necessary asset intelligence [3]. - Dale Foster, CEO of Climb, expressed excitement about the partnership, highlighting its potential to offer resellers unparalleled visibility and control over IT environments [5]. Group 3: Company Background - Climb Channel Solutions is a global specialty technology distributor focusing on various IT sectors, including Security, Data Management, and Cloud solutions [7]. - Liongard is recognized for its AI-powered platform that provides unified, real-time visibility across IT environments, helping organizations reduce risks and enhance operational efficiency [8][9].

Core Insights - Climb Channel Solutions has launched a partnership with Seclore to enhance data security offerings for its partners [1][3] - The collaboration aims to provide advanced data protection solutions to resellers, MSPs, and VARs, leveraging Seclore's data-centric security platform [2][3] Company Overview - Climb Channel Solutions is a global specialty technology distributor focusing on various IT sectors including Security, Data Management, and Cloud solutions [5] - Seclore specializes in data-centric security, offering solutions that protect sensitive data both inside and outside organizations [6][7] Partnership Details - The partnership will enable Climb to distribute Seclore's data security platform, enhancing the capabilities of its partners to secure sensitive information [2][3] - Seclore's platform provides granular access controls and persistent data protection, which are critical for organizations facing data security challenges [2][4] Strategic Goals - The alliance is designed to expand Seclore's market presence and enhance Climb's data security offerings, aligning with both companies' growth strategies [4] - Climb's CEO emphasized the importance of Seclore's innovative approach in providing a competitive edge to partners in the data protection space [4]

Financial Performance - Net sales increased by 35%, or $42.0 million, to $161.3 million for the three months ended September 30, 2025, compared to $119.3 million for the same period in the prior year[112]. - Gross profit increased by 6%, or $1.4 million, to $25.7 million for the three months ended September 30, 2025, compared to $24.3 million for the same period in the prior year[112]. - Net income decreased by 14%, or $0.8 million, to $4.7 million for the three months ended September 30, 2025, compared to $5.5 million for the same period in the prior year[112]. - Diluted income per share decreased by 14%, or $0.17, to $1.02 for the three months ended September 30, 2025, compared to $1.19 for the same period in the prior year[112]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $29.9 million, compared to $23.5 million for the same period in 2024, reflecting a significant increase[142]. - Net sales for the nine months ended September 30, 2025 increased 51%, or $154.8 million, to $458.6 million compared to $303.8 million for the same period in the prior year[159]. - Gross profit for the nine months ended September 30, 2025 increased 26%, or $15.6 million, to $75.4 million compared to $59.8 million for the same period in the prior year[164]. Expenses - Selling, general and administrative expenses increased by 16%, or $2.3 million, to $16.2 million for the three months ended September 30, 2025, compared to $13.9 million for the same period in the prior year[112]. - SG&A expenses for the nine months ended September 30, 2025 increased 25%, or $9.9 million, to $49.3 million compared to $39.4 million for the same period in the prior year[169]. - Depreciation and amortization expense increased by 65%, or $0.8 million, to $2.0 million for the three months ended September 30, 2025, compared to $1.2 million for the same period in the prior year[112]. Sales and Segments - Gross billings for the three months ended September 30, 2025, increased by 8%, or $39.4 million, to $504.6 million compared to $465.2 million for the same period in the prior year[145]. - The Distribution segment net sales for the three months ended September 30, 2025, increased by 38%, or $42.5 million, to $154.4 million compared to $111.9 million for the same period in the prior year[147]. - The Solutions segment net sales for the three months ended September 30, 2025, decreased by 7%, or $0.6 million, to $6.9 million compared to $7.5 million for the same period in the prior year[148]. - Distribution segment gross profit for the three months ended September 30, 2025 increased 4%, or $0.8 million, to $22.4 million compared to $21.6 million for the same period in the prior year[151]. - Solutions segment gross profit for the three months ended September 30, 2025 increased 23%, or $0.6 million, to $3.3 million compared to $2.7 million for the same period in the prior year[152]. Cash and Dividends - Total dividends paid and the dollar value of shares repurchased were $0.8 million and $0.3 million, respectively, for the three months ended September 30, 2025[109]. - Cash and cash equivalents as of September 30, 2025 increased 67%, or $20.0 million, to $49.8 million compared to $29.8 million as of December 31, 2024[173]. Tax and Estimates - The effective tax rate for the nine months ended September 30, 2025 was 21.6%, a decrease from 23.5% for the same period in the prior year[172]. - The Company evaluates its estimates related to product returns, bad debts, inventories, and other factors on an ongoing basis[114]. Market and Competition - The Company operates in a competitive environment where gross product margins have historically declined due to competition and changes in product mix[105]. - The Company is exposed to market risks primarily related to foreign currency exchange rates[183]. - International operations are conducted in Canada, the United Kingdom, and throughout Europe, subjecting the company to foreign currency transaction and translation risks[184]. - Recent years have seen significant fluctuations in exchange rates between foreign currencies and the U.S. dollar, which may continue in the future[184]. Acquisitions and Customers - The Company completed the acquisition of DSS for an aggregate purchase price of approximately $20.3 million on July 31, 2024[144]. - The Company had two major customers that accounted for 22% and 14% of total net sales during the three months ended September 30, 2025[149].

Group 1 - The 69th Annual General Meeting of Impala Platinum Holdings Limited was convened, welcoming board members, management, service providers, and stakeholders [1] - The notice for the AGM was distributed within the prescribed period and includes details of all resolutions to be considered [2]

Core Insights - Europe's largest automaker indicated that a shortage of semiconductors could further hurt productivity [1] Group 1 - The automaker is facing challenges due to semiconductor shortages [1]

Financial Data and Key Metrics Changes - Gross billings in Q3 2025 increased by 8% to $504.6 million compared to $465.2 million in the prior year quarter [12] - Net sales in Q3 2025 increased by 35% to $161.3 million compared to $119.3 million, driven by organic growth and contributions from the acquisition of Douglas Stewart Software [12] - Net income in Q3 2025 was $4.7 million or $1.02 per diluted share, down from $5.5 million or $1.19 per diluted share in the prior year [16] - Adjusted EBITDA in Q3 2025 was $10.9 million, slightly down from $11.1 million in the prior year [18] Business Line Data and Key Metrics Changes - Distribution segment gross billings increased by 9% to $481.9 million, while solutions segment gross billings decreased by 5% to $22.7 million [12] - Gross profit as a percentage of gross billings was 5.1%, slightly down from 5.2% in the prior year [13] Market Data and Key Metrics Changes - The European team showed strong execution, particularly in the artificial intelligence market, with the launch of Climb AI Academy to support partners [9][10] - The cybersecurity space continues to lead growth, accounting for over 60% of the company's business [22] Company Strategy and Development Direction - The company is focused on building operational momentum and executing strategic initiatives, including evaluating acquisition opportunities to enhance capabilities and market presence [19] - The company aims to deepen partnerships with existing vendors while selectively adding new ones to maintain innovation and market differentiation [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in closing out 2025 strong, with expectations for another year of record results [11] - There are no significant concerns regarding tariffs impacting the business, although currency fluctuations are monitored [30] Other Important Information - The Board of Directors declared a quarterly dividend of $0.17 per share, payable on November 17, 2025 [19] - The company has a robust balance sheet with cash and cash equivalents of $49.8 million as of September 30, 2025 [18] Q&A Session Summary Question: How would you characterize the quarter? Was the growth broad-based across your top 20? - Management indicated that there were no lumpy deals and organic growth was strong across the majority of vendors [21] Question: Were there any early pay price discounts that impacted margin? - No new relationships on early pay discounts were noted, and the percentage of gross billings remained consistent [24] Question: Is there a similar training program in the U.S. as the one in Europe? - Currently, there is no similar program in the U.S., but plans to roll out a training program are in place [25] Question: What is the impact of tariffs on your business? - There is no significant impact from tariffs, but currency fluctuations are considered [30] Question: Can you explain the notable declines in accounts receivable and accounts payable? - The changes are typical for the business and are expected to normalize in the next quarter [31] Question: What is the seasonality of orders now with DSS? - Seasonality is influenced by the education sector, with strong buying occurring in the summer [38] Question: What caused the 5% decrease in the solutions segment gross billings? - The decrease is attributed to fluctuations in the U.S. side of the business, which has a small team and large customers [40] Question: What are the acquisition-related costs in the quarter? - The costs are related to evaluating potential acquisitions, with a focus on larger deals moving forward [42][45] Question: What is the company's vision for future M&A? - The company is looking at opportunities ranging from $10 million to $40 million, focusing on strategic acquisitions that enhance technical capabilities [48][52]

Core Insights - Climb Global Solutions, Inc. (CLMB) is projected to double its revenue over the next two years through a combination of organic growth and strategic initiatives [1] Group 1: Company Overview - The company was first recommended to Seeking Alpha readers in May 2024, highlighting its potential for significant revenue growth [1] - The analysis emphasizes a long-term investment perspective, focusing on high-quality companies and micro-cap growth stocks [1] Group 2: Analyst Approach - The analyst employs a research-driven approach, leveraging a background in academia to uncover investment opportunities [1] - The strategy includes remaining opportunistic during market downturns and focusing on companies that are currently undervalued [1]

Core Insights - Samsung Electronics reported a 32% increase in third-quarter operating profit, driven by a strong conventional chip market that compensated for a gradual recovery in artificial intelligence chip sales [1] Financial Performance - The operating profit for the third quarter rose significantly by 32%, indicating robust performance in the semiconductor sector [1] - The growth in profit was primarily attributed to the booming conventional chip market, which has been a key driver for the company's financial results [1] Market Trends - The recovery in artificial intelligence chip sales is noted to be gradual, suggesting that while there is potential for growth, it may take time for this segment to fully rebound [1] - The overall performance reflects the ongoing dynamics in the semiconductor industry, where conventional chips continue to play a crucial role in profitability [1]