Climb Global Solutions posts record FY 2022 net income of $12.5M, up 36% YoY; Q4 net sales up 18% to $88.9M

Climb Global Solutions, Inc.

2022-FY EPS reported $2.81 revenue$304,348,000

Q4 net sales $88.9M (+18% YoY); Q4 net income $4.8M ($1.06/diluted share) vs $3.4M ($0.78) in prior year.
FY 2022 net sales $304.3M (+8%); net income $12.5M ($2.81/diluted share) vs $9.2M ($2.09) in 2021.
Adjusted EBITDA for FY 2022 increased 36% to $21.1M; Q4 adjusted EBITDA up 44% to $7.4M.
Board declared quarterly dividend of $0.17/share, payable March 17, 2023 to holders of record March 13, 2023.
Acquisition of Spinnakar contributed; cash and equivalents $20.2M at year-end; no borrowings on credit facilities.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Climb Global Solutions, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $88.9 million, net income $4.8 million, EPS $1.06 per diluted share.

Period: the fourth quarter ended December 31, 2022
Revenue: $88.9 million
Net income: $4.8 million
EPS: $1.06 per diluted share
Result: reported results

Exact text from the filing

Fourth Quarter 2022 Summary vs. Same Year-Ago Quarter ● Net sales increased 18% to $88.9 million. ● Adjusted gross billings (a non-GAAP financial measure defined below) increased 22% to $319.8 million. ● Gross profit increased 28% to $16.1 million. ● Net income increased 38% to $4.8 million or $1.06 per diluted share, compared to $3.4 million or $0.78 per diluted share. Excluding the impact of foreign exchange (FX), net income increased 43% to $4.9 million o r $1.08 per diluted share. ● Adjusted EBITDA (a non-GAAP financial measure defined below) increased 44% to $7.4 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Climb Global Solutions, Inc. reported the fiscal year ended December 31, 2022 results: revenue $304.3 million, net income $12.5 million, EPS $2.81 per diluted share.

Period: the fiscal year ended December 31, 2022
Revenue: $304.3 million
Net income: $12.5 million
EPS: $2.81 per diluted share
Result: reported results

Exact text from the filing

Full Year 2022 Summary vs. 2021 ● Net sales increased 8% to $304.3 million. ● Adjusted gross billings increased 14% to $1.1 billion. ● Gross profit increased 18% to $54.1 million. ● Net income increased 36% to $12.5 million or $2.81 per diluted share, compared to $9.2 million or $2.09 per diluted share. Excluding the impact of foreign exchange (FX), net income increased 43% to $13.2 million or $2.97 per diluted share. ● Adjusted EBITDA increased 36% to $21.1 million.

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Source: SEC EDGAR

accession 0001558370-23-002583

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