Climb Global Solutions, Inc. - CLMB STOCK NEWS

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.

Datadobi has launched the StorageMAP File System Assessment Service in partnership with Climb Channel Solutions. This service aims to provide channel partners insights into managing unstructured data, which now constitutes 80%-90% of all data and is growing three times faster than structured data. According to Techjury, 95% of businesses struggle to manage this data effectively. This service will help clients reduce risks, improve compliance, and lower costs. Additionally, Datadobi has released StorageMAP software version 6.4, enhancing reporting capabilities critical for the new service.

Climb Global Solutions (NASDAQ:CLMB) reported impressive Q4 and FY 2022 financial results, with net income rising 36% to $12.5 million, or $2.81 per share. Q4 net sales increased 18% to $88.9 million, while adjusted gross billings saw a 22% rise to $319.8 million. Gross profit grew 28% to $16.1 million. The company attributed its success to organic growth and the integration of Spinnakar, enhancing its market presence, especially in EMEA. A quarterly dividend of $0.17 per share was declared for March 2023. Cash and cash equivalents decreased to $20.2 million, primarily due to the Spinnakar acquisition.

Climb Global Solutions (NASDAQ:CLMB) will hold a conference call on March 2, 2023, at 8:30 a.m. Eastern time to discuss its financial results for Q4 and the full year ending December 31, 2022. A press release detailing the results will be issued before the call. Interested parties can submit questions to the company via email. The call will be followed by a Q&A session and will be available for replay on the investor relations section of Climb's website. Climb Global Solutions specializes in IT distribution and solutions across various innovative technology sectors in the US, Canada, and Europe.

LogicGate has announced a partnership with Climb Channel Solutions to enhance its presence in the EMEA market. The collaboration aims to assist organizations in managing governance, risk, and compliance (GRC) through Risk Cloud® technology. As 75% of the global population is projected to have privacy protections by 2024, this partnership will help companies address the complexities of security and compliance. LogicGate has previously introduced eight new GRC applications in 2023 and has seen significant growth, boasting a user base that includes Equiniti and Zurich Insurance. The firm was recognized as a 'Strong Performer' in Forrester's recent report on GRC solutions.

Climb Global Solutions (NASDAQ:CLMB) announced its participation in the Sidoti Micro-Cap Conference on January 18, 2023. The management team will conduct virtual 1x1 meetings and present from 2:30 PM to 3:00 PM ET. Interested participants can register for the live presentation via a provided link. Climb Global Solutions specializes in IT distribution and solutions, focusing on emerging technologies across the US, Canada, and Europe. Its business units include Climb Channel Solutions, Grey Matter, and CloudKnowHow, serving various sectors including Security and Data Management.

On November 7, 2022, Climb Global Solutions (NASDAQ:CLMB) announced the appointment of Mrs. Kimberly S. Boren to its Board of Directors. This brings the board back to seven members, with six being independent. Boren has over 25 years of experience in finance, having served in leadership roles at Learfield, Experian, and Honeywell, and played a vital role in M&A transactions. Her expertise is expected to enhance Climb's financial reporting and governance as the company pursues growth strategies.

Climb Global Solutions reported Q3 2022 net sales of $76.3 million, marking an 11% increase year-over-year. Adjusted gross billings rose 17% to $264.3 million. Gross profit increased 19% to $13.5 million, while net income decreased slightly to $2.2 million or $0.50 per diluted share. Excluding foreign exchange effects, net income was $2.6 million. SG&A expenses grew to $9.8 million, with a resulting 16.5% net income margin. The company remains optimistic about its growth trajectory following the acquisition of Spinnakar and a successful rebranding.