Core Viewpoint - The comparison between Jamf Holding (JAMF) and Climb Global Solutions (CLMB) indicates that JAMF is more attractive to value investors due to its stronger earnings estimate revisions and better valuation metrics [1][3]. Valuation Metrics - Jamf Holding has a forward P/E ratio of 13.11, while Climb Global Solutions has a higher forward P/E of 19.59 [5]. - The PEG ratio for JAMF is 0.76, indicating a more favorable valuation relative to its expected EPS growth, compared to CLMB's PEG ratio of 1.63 [5]. - JAMF's P/B ratio is 2.2, significantly lower than CLMB's P/B ratio of 4.58, suggesting that JAMF is undervalued compared to its book value [6]. Zacks Rank and Value Grades - Jamf Holding has a Zacks Rank of 2 (Buy), indicating a positive analyst outlook, while Climb Global Solutions has a Zacks Rank of 5 (Strong Sell) [3]. - In terms of value grades, JAMF has earned a Value grade of B, whereas CLMB has a Value grade of C, further supporting the conclusion that JAMF is the better option for value investors [6].

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]