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Climb Global Solutions

Climb Global Solutions, Inc. is a value-added IT distribution and solutions company operating in the United States, Canada, Europe, and the United Kingdom. It operates through two segments: Distribution, which distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and Solutions, which provides cloud solutions and resells software, hardware, and services under the name Grey Matter. The company also resells third-party computer software and hardware and provides technical services to end-user customers. It markets its products through its own websites, local seminars, events, webinars, social media, direct email, and printed materials. Formerly known as Wayside Technology Group, Inc., it changed its name to Climb Global Solutions, Inc. in October 2022. The company was incorporated in 1982 and is headquartered in Eatontown, New Jersey.

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Climb Global Solutions Q2 gross billings rise 17% while net income dips on higher costs

Climb Global Solutions reported second-quarter results with gross billings rising 17% year over year to $587.3 million, while net income declined to $5.5 million from $6 million a year earlier as the company absorbed acquisition-related costs and increased technology investments. Net sales increased 9% to $174.2 million, and gross profit climbed 15% to $30.2 million, driven by organic growth and the February acquisition of InterWorks. Adjusted EBITDA edged down to $11.3 million from $11.4 million, and the effective margin declined to 37.5% from 43.3%, reflecting higher selling, general and administrative expenses that reached $20.7 million. CEO Dale Foster noted that Fortinet billings surged sequentially after customer restrictions ended, and the company added Ivanti and Checkmk as new vendors while developing a cloud platform and evaluating larger European acquisitions that could require debt financing.
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Climb Global Solutions Appoints Peter Bell to Board of Directors

Climb Global Solutions has elected Peter Bell to its Board of Directors, expanding the board to five members, four of whom are independent. Bell, who brings over 35 years of experience in venture capital and technology operations, will serve as Chair of the Nominating and Corporate Governance Committee. He currently serves as a Senior Advisor at Amity Ventures and as a General Partner at SSC Venture Partners, and previously co-founded cloud computing pioneer StorageNetworks, leading it through an IPO as CEO. Bell later served as Managing General Partner at Highland Capital Partners, a $4 billion global firm, and has held multiple board seats across public and private technology companies. The company stated that Bell's experience scaling a technology business through an IPO and navigating M&A is directly relevant as Climb continues to expand its global IT channel business.
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