A strong performance across its vendor portfolio and the contribution of a recent acquisition bolstered Climb Global Solution’s second-quarter (Q2) numbers.

The distributor shared details of its performance in the three months to the end of June, with net sales increasing by 9% to $174.2m compared to the same period last year.

Net income was $5.5m, which was slightly down on the $6m reported in Q2 last year. A different effective tax rate, compared to the prior year, was pointed to as the culprit for that decline.

Gross billings improved by 17% to $587.3m, with that including an 18% increase in the distribution segment to $562.9m and a 4% uptick in the solutions unit, coming in at $24.4m.

The channel player saw a strong performance from its top 20 vendors and benefitted from the acquisition of Interworks. The firm saw decent growth in both the US and across Europe.

“We executed on our core initiatives in the second quarter as we generated strong, double-digit organic growth with our top 20 vendors, benefitted from our acquisition of interworks.cloud, and bolstered our line card with innovative vendors,” said CEO Dale Foster.

“A key differentiator of our model is our highly selective approach to building the line card. Rather than pursuing scale for its own sake, we focus on strengthening our current partnerships and identifying emerging technologies that provide a unique value proposition for our reseller network and their end customers,” he added.

Foster recently spoke at the firm’s first investor day and expounded the strengths of being involved in the high-growth cloud markets. He set out an ambition for the business to more than double FY 2025 adjusted EBITDA by 2030.

“Looking ahead, we remain focused on executing our strategic initiatives, including driving organic growth across our vendor portfolio, selectively expanding our line card and continuing to scale our global platform, with Europe remaining a key area of focus. We believe these initiatives, coupled with our robust balance sheet and disciplined approach to capital allocation, will enable us to continue driving value for our shareholders,” he said.

The firm has been busy expanding its reach already this year, adding Interworks.cloud, a value-added distributor operating in South-Eastern Europe, in February in a deal worth €8m. It followed that up in May with a move to set up a presence in South Africa.

Climb’s CEO has spoken in the past of the ambition to keep growing the firm through a combination of organic growth and acquisitions and the firm ended Q2 with no outstanding debt and no borrowings outstanding under its $50m revolving credit facility.

Climb benefits from vendor portfolio performance

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