Climb Global Solutions sees ‘exceptional performance’ in Q2

DSS buyout and partnering vendors’ growth fuelled this quarter’s results

Climb Global Solutions has shared figures up double digits in Q2 after bolstering its collaboration with new and existing vendors.

Gross billings soared 39 per cent to $500.55m (£377.77m), compared to $359.84m in the same period last year.

The company’s distribution business propelled this growth, surging 40 per cent to $477.04m (Q2 FY24: $340.07m).

Its solutions segment also went through a positive evolution, increasing 19 per cent, from $19.77m to $23.51m.

Gross profit climbed 42 per cent to $26.3m compared to $18.56m in Q2 FY24.

Net sales skyrocketed 73 per cent year-on-year, from $92.08m to £159.28m.

The organisation is still riding the profitable wave generated by the buyout of education-focused distributor Douglas Stewart Software (DSS) in July last year, as well as the organic growth from new and existing vendors in NORAM and Europe, which have propelled gross profit for the second quarter in a row.

“We continued to execute on our core initiatives in Q2, resulting in another period of exceptional performance with material increases across all key financial metrics,” said Dale Foster, CEO of Climb Global Solutions.

“During the quarter, we generated double-digit organic growth by strengthening relationships with key customers, bolstering our line card with new, innovative vendors, and growing our market share in both the US and Europe.

“We also benefited from the incremental contribution and seasonal strength of DSS, which typically sees higher demand from education customers as they ramp ahead of the next school year.”

Looking ahead, Foster wants to continue building on the momentum established in the first half of the year.

The CEO will strive to identify strategic acquisition opportunities to boost the company’s capabilities and complement its footprint.

“These initiatives, coupled with our robust balance sheet and demonstrated track record of success, will enable us to deliver on both our organic and inorganic growth objectives in 2025 and beyond,” he said.

The distie has been on a roll since last year, announcing “record breaking” results in FY24, as global revenues ramped up 42 per cent to $1.78bn, compared to $1.26 in FY23.