Core Insights - Climb Global Solutions, Inc. reported a significant increase in net sales and net income for the first quarter of 2025, with net sales rising 49% to $138.0 million and net income increasing 35% to $3.7 million or $0.81 per share [1][5][8] Financial Performance - Net sales increased 49% to $138.0 million compared to $92.4 million for the same period in 2024, driven by organic growth and the acquisition of Douglas Stewart Software & Services, LLC [5][9] - Gross billings rose 34% to $474.6 million, with distribution segment gross billings increasing 36% to $453.6 million and solutions segment gross billings increasing 2% to $21.0 million [9][10] - Gross profit increased 37% to $23.4 million, reflecting strong performance from both new and existing vendors [6][9] - Selling, general, and administrative expenses were $16.8 million, up from $12.5 million in the previous year, with DSS contributing $1.1 million to the increase [7][9] - Adjusted EBITDA increased 38% to $7.6 million, with an effective margin of 32.7% [10][9] Management Commentary - CEO Dale Foster highlighted the continuation of momentum from a record 2024, emphasizing organic growth in the U.S. and Europe and the successful integration of DSS [3] - The company plans to leverage a new ERP system for operational efficiencies and remains open to M&A opportunities to enhance offerings [3] Dividend Declaration - Climb's Board of Directors declared a quarterly dividend of $0.17 per share, payable on May 16, 2025, to shareholders of record on May 12, 2025 [4] Cash Position - As of March 31, 2025, cash and cash equivalents were $32.5 million, an increase from $29.8 million at the end of 2024, with working capital rising by $4.4 million [11]
Climb Global Solutions Reports First Quarter 2025 Results