Climb Global Solutions continues growth spree in Q3 results
The VAD has an increasing interest in European markets, according to CEO Dale Foster
Bolstered by channel collaborations and acquisitions, US-based VAD Climb Global Solutions’ results went up again in Q3.
The company’s gross billings - the total dollar value of customer purchases of goods and services this quarter, net of customer returns and credit memos, sales, or other taxes – were up eight per cent, from $465.2m to $504.6m (£382.4m)
These results were driven by the firm’s distribution business, as gross billings increased nine per cent to $481.9m (Q3 FY24: $441.4m), partially offsetting the decline in solutions.
The solutions segment’s gross billings decreased five per cent, from $23.8m to $22.7m.
Gross profit rose six per cent to $25.7m, compared to $24.3m the year prior, fuelled by organic growth from new and existing vendors across North America and Europe, as well as contribution from Douglas Stewart Software (DSS), the education-focused distributor Climb acquired in July last year.
Net sales soared 35 per cent, from $119.3m to $161.3m, propelled by the same factors.
“We continued to execute on our core initiatives in Q3 as we generated double digit organic growth, benefitted from the acquisition of DSS year, and deepened existing partnerships while signing new, cutting-edge vendors to our line card,” said Dale Foster, CEO of Climb.
“I’m proud of our team’s ability to deliver solid results, maintain operational discipline, and continue driving growth, even in the face of a challenging comp from last year with unique profit characteristics.”
Climb’s deepened and new partnerships also contributed to the company’s rise, despite the loss of Citrix in 2024, which the CEO described as a “shock” in a recent interview with CRN.
This marks the third consecutive quarter of growth for the company this year.
Last quarter, gross billings climbed 39 per cent to $500.55m.
In Q1, gross billings ramped up 34 per cent year-on-year to $474.6m.
The VAD also delivered “record breaking” revenue in its FY24 financial results, as it climbed 42 per cent to $1.78bn, compared to $1.26 in FY23.
Moving forward, the CEO said he wants to continue working through what he referred to as a pipeline of strategic acquisition opportunities, with increasing interest in European markets to enhance the company’s offerings.
He also wants to expand its presence in both North America and overseas.
“We believe these initiatives, coupled with our robust balance sheet and demonstrated track record of accretive M&A, will enable us to close out 2025 on a strong note and deliver another year of record results,” he added.