Climb Global Solutions Misses Second-Quarter Estimates
Climb Global Solutions (CLMB) reported second-quarter results that fell short of estimates. The company's Non-GAAP earnings per share came in at $0.30, missing expectations by $0.01. Revenue was reported at $172.4 million, a year-over-year increase of 8.2%, but still below the projected figure by approximately $2.57 million. Despite revenue falling short, Climb Global Solutions saw strong growth in gross billings across its segments. Total gross billings reached $587.3 million, up 17% year-over-year. Distribution and solutions gross billings also showed solid gains of 18% and 4%, respectively. The company's net income declined slightly to $5.5 million compared to the prior year’s $6.0 million. Adjusted metrics like adjusted net income, EPS, and EBITDA remained relatively stable but still underperformed expectations.
Tickers: $CLMB
Topics: Earnings Non-GAAP EPS Revenue Miss