Financial Performance - Net sales increased 35% to $161.3 million compared to $119.3 million for the same period in 2024[6] - Gross billings rose 8% to $504.6 million from $465.2 million in the year-ago period[6] - Net income was $4.7 million or $1.02 per diluted share, down from $5.5 million or $1.19 per diluted share in Q3 2024[9] - Adjusted net income decreased to $6.0 million or $1.31 per diluted share from $7.1 million or $1.55 per diluted share year-over-year[9] - Adjusted EBITDA was $10.9 million, slightly down from $11.1 million in the same quarter last year[10] - Net sales for the nine months ended September 30, 2025, reached $458.671 million, a significant increase from $303.847 million in the same period of 2024, representing a growth of 50.9%[24] - Gross profit for the nine months ended September 30, 2025, was $75.437 million, compared to $59.833 million in 2024, reflecting a year-over-year increase of 26.1%[24] - Adjusted EBITDA for the nine months ended September 30, 2025, was $29.894 million, up from $23.543 million in 2024, indicating a growth of 27.0%[25] - Total gross billings for the nine months ended September 30, 2025, amounted to $1.479 billion, compared to $1.180 billion in 2024, marking an increase of 25.4%[28] - Net income for the nine months ended September 30, 2025, was $14.346 million, compared to $11.620 million in 2024, which is a growth of 23.6%[26] - Adjusted net income for the nine months ended September 30, 2025, was $16.270 million, up from $13.673 million in 2024, reflecting a year-over-year increase of 19.0%[26] - Income per common share (diluted) for the nine months ended September 30, 2025, was $3.13, compared to $2.54 in 2024, representing a growth of 23.2%[24] Expenses and Dividends - SG&A expenses rose to $16.2 million, representing 3.2% of gross billings compared to 3.0% in the prior year[8] - Selling, general, and administrative expenses for the nine months ended September 30, 2025, totaled $55.768 million, an increase from $43.567 million in 2024, which is a rise of 28.0%[24] - A quarterly dividend of $0.17 per share was declared, payable on November 17, 2025[5] - Dividends paid per common share remained stable at $0.51 for both the nine months ended September 30, 2025, and 2024[24] Cash and Strategic Initiatives - Cash and cash equivalents increased to $49.8 million from $29.8 million at the end of 2024[11] - The company plans to pursue strategic acquisition opportunities, particularly in European markets, to enhance offerings and expand presence[3] Segment Performance - The distribution segment gross billings increased 9% to $481.9 million, while the solutions segment gross billings decreased 5% to $22.7 million[4] Foreign Currency Impact - The company reported a foreign currency transaction loss of $566,000 for the nine months ended September 30, 2025, compared to a loss of $688,000 in 2024[24]
Climb Solutions(CLMB) - 2025 Q3 - Quarterly Results