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

Earnings

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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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