Climb Global Solutions, Inc. (NASDAQ: CLMB) reported financial results for the third quarter ended September 30, 2026, announcing record performance across several key metrics. The company reported net sales of $220.3 million for the quarter, representing a 37% increase compared to the same period in the prior year.
Gross billings, a measure of total customer purchases, rose 40% to $706.4 million. This growth was driven by the company's Distribution segment, which saw gross billings increase 41% to $680.5 million, and its Solutions segment, which saw gross billings increase 14% to $25.9 million.
On the income statement, net income increased 69% to $7.9 million, or $0.43 per diluted share. Adjusted EBITDA, a non-GAAP financial measure, increased 35% to $14.7 million. The company noted that effective margin, defined as adjusted EBITDA as a percentage of gross profit, increased to 44.6%.
Climb reported cash and cash equivalents of $66.9 million on September 30, 2026, up from $36.6 million on December 31, 2025. The company had no outstanding debt as of the end of the quarter.
In management commentary, CEO Dale Foster highlighted the company's strong momentum across its vendor portfolio. He noted that 19 of the company's top 20 vendors generated sequential growth during the quarter. Foster also mentioned that the company expanded its European presence through the acquisition of NeoVAD subsequent to quarter end.
The company will host a conference call on October 29, 2026, at 8:30 a.m. Eastern time to discuss the results.
