Welcome to our dedicated page for Climb Global Solutions news (Ticker: CLMB), a resource for investors and traders seeking the latest updates and insights on Climb Global Solutions stock.
Climb Global Solutions, Inc. (NASDAQ: CLMB) is a prominent value-added IT distribution and solutions company specializing in emerging technologies. Operating across the USA, Canada, and Europe, Climb Global Solutions functions through multiple business units including Climb Channel Solutions, Sigma, Grey Matter, Interwork, and TechXtend.
Founded in 1982 and headquartered in Eatontown, New Jersey, Climb Global Solutions has a rich history of innovation and growth. Initially listed on the NASDAQ in 1995, the company has sustained its market presence through strategic partnerships and a focus on cutting-edge technology solutions.
The company is organized into two primary segments:
- Distribution Segment: Through Climb Channel Solutions, this segment distributes technical software and hardware to corporate resellers, value-added resellers (VARs), consultants, and systems integrators. The focus areas include Security, Data Management, Connectivity, Storage & HCI, Virtualization & Cloud, and Software & Application Lifecycle Management (ALM).
- Solutions Segment: Under the Grey Matter brand, this segment acts as a cloud solutions provider and value-added reseller, delivering comprehensive software, hardware, and services to its customers.
Climb Global Solutions is known for its innovative approach and diverse offerings, which include over 100 emerging brands. The company’s global presence and high-touch business practices allow it to cater to various markets effectively, providing unique solutions tailored to meet diverse client needs.
Recent Achievements and Partnerships: Climb recently formed a strategic alliance with Global Technologies, a minority-owned IT distribution company. This partnership emphasizes business inclusion and aims to expand Climb’s reach across multiple regions, including North America, LATAM, the UK, and EMEA.
Moreover, Climb was honored with the Distributor of the Year award from Delinea, further highlighting its strong performance and dedication to partner engagement. The company’s commitment to excellence is also reflected in numerous industry recognitions and awards received by its team members.
Financials and Market Presence: Climb’s Q1 2024 financial results showcase a net sales increase of 9% year-on-year to $92.4 million, with adjusted gross billings up 16% to $355.3 million. This financial performance underscores the company’s growth trajectory and robust market position.
Those interested in learning more about Climb Global Solutions and its offerings can visit their official website at www.climbglobalsolutions.com, or contact their sales team via phone or email for further inquiries.
On April 24, 2023, Climb Global Solutions (NASDAQ:CLMB) announced the award of 35,000 shares of common stock to CEO Dale Foster, effective April 20, 2023. This grant acknowledges his leadership since his appointment in January 2020, during which he led the company through significant growth and profitability. The compensation is tied to changes in his arrangement under the Executive Severance and Change in Control Plan and the termination of his previous employment agreement. The total expense for this stock grant is approximately $1.3 million, which will impact the operating results for Q2 2023 and be classified as an add-back to Adjusted EBITDA.
Climb Global Solutions specializes in IT distribution for emerging technologies across North America and Europe.
Climb Global Solutions (NASDAQ:CLMB) will host a conference call on May 4, 2023, at 8:30 a.m. Eastern time to discuss its financial results for the first quarter ended March 31, 2023. A press release with the results will be published before the call.
The call will include a question-and-answer session, and interested parties may submit their questions via email. The conference call will also be available for replay on the investor relations section of Climb's website. Climb is a global IT distribution and solutions company specializing in innovative technologies, operating in the US, Canada, and Europe.
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