Revenue growth reached 32.1% in 2026Q1, yet structural margin pressure is evident as gross margins declined from 19.7% in 2023Q4 to 14.5%.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 696.85M | 652.52M | 465.61M | 352.01M | 304.35M | 282.58M | 251.57M | 208.76M | 181.44M | 449.38M | 418.13M | 382.09M | 340.76M | 300.39M | 297.06M | 250.17M | 206.73M | 146.38M | 174.03M | 179.87M | 182.32M | 137.66M | 103.58M | 69.57M | 65.16M | 89.54M | 216.54M | 244.1M | 234.4M | 176.2M | 127.7M |
| Revenue Growth % | 36.31% | 40.14% | 32.27% | 15.66% | 7.7% | 12.33% | 20.51% | 15.05% | -59.62% | 7.47% | 9.43% | 12.13% | 13.44% | 1.12% | 18.74% | 21.01% | 41.22% | -15.88% | -3.25% | -1.35% | 32.45% | 32.89% | 48.89% | 6.77% | -27.23% | -58.65% | -11.29% | 4.14% | 33.03% | 37.98% | 36.87% |
| Cost of Goods Sold | 588.48M | 547.25M | 374.53M | 287.77M | 252.31M | 236.87M | 218.53M | 178.79M | 154.52M | 422.3M | 390.8M | 355.52M | 315.95M | 276.04M | 273.17M | 226.93M | 186.72M | 130.79M | 157.23M | 162.63M | 165.35M | 122.69M | 91.24M | 60.61M | 56.54M | 80.66M | 193.78M | 216.7M | 204.2M | 149.6M | 106.2M |
| COGS % of Revenue | - | 83.87% | 80.44% | 81.75% | 82.9% | 83.82% | 86.87% | 85.65% | 85.16% | 93.97% | 93.46% | 93.05% | 92.72% | 91.89% | 91.96% | 90.71% | 90.32% | 89.35% | 90.35% | 90.42% | 90.69% | 89.13% | 88.09% | 87.12% | 86.78% | 90.08% | 89.49% | 88.78% | 87.12% | 84.9% | 83.16% |
| Gross Profit | 108.37M | 105.27M | 91.08M | 64.25M | 52.04M | 45.72M | 33.04M | 29.97M | 26.92M | 27.08M | 27.33M | 26.57M | 24.81M | 24.36M | 23.89M | 23.24M | 20.01M | 15.59M | 16.8M | 17.23M | 16.97M | 14.97M | 12.34M | 8.96M | 8.62M | 8.88M | 22.76M | 27.4M | 30.2M | 26.6M | 21.5M |
| Gross Margin % | 15.55% | 16.13% | 19.56% | 18.25% | 17.1% | 16.18% | 13.13% | 14.35% | 14.84% | 6.03% | 6.54% | 6.95% | 7.28% | 8.11% | 8.04% | 9.29% | 9.68% | 10.65% | 9.65% | 9.58% | 9.31% | 10.88% | 11.91% | 12.88% | 13.23% | 9.92% | 10.51% | 11.22% | 12.88% | 15.1% | 16.84% |
| Gross Profit Growth % | - | 15.58% | 41.77% | 23.46% | 13.83% | 38.37% | 10.25% | 11.32% | -0.58% | -0.93% | 2.85% | 7.11% | 1.87% | 1.94% | 2.8% | 16.15% | 28.33% | -7.17% | -2.54% | 1.57% | 13.35% | 21.32% | 37.71% | 3.98% | -2.96% | -60.98% | -16.93% | -9.27% | 13.53% | 23.72% | 41.45% |
| Operating Expenses | 80.08M | 76.08M | 63.09M | 47.76M | 34.14M | 33.66M | 27.74M | 21.5M | 20.32M | 19.26M | 18.71M | 18.06M | 16.51M | 15.51M | 15.38M | 14.62M | 13.21M | 11.32M | 12.21M | 12.08M | 12.16M | 12.2M | 10.17M | 8.14M | 9.27M | 13.28M | 28.21M | 27.5M | 24.7M | 20.4M | 18.5M |
| OpEx % of Revenue | - | 11.66% | 13.55% | 13.57% | 11.22% | 11.91% | 11.03% | 10.3% | 11.2% | 4.29% | 4.48% | 4.73% | 4.85% | 5.16% | 5.18% | 5.85% | 6.39% | 7.73% | 7.01% | 6.72% | 6.67% | 8.86% | 9.82% | 11.7% | 14.23% | 14.83% | 13.03% | 11.27% | 10.54% | 11.58% | 14.49% |
| Selling, General & Admin | 71.13M | 67.55M | 56.51M | 44.33M | 34.14M | 32.14M | 25.52M | 21.01M | 20.32M | 19.26M | 18.71M | 18.06M | 16.51M | 15.51M | 15.38M | 14.62M | 13.21M | 11.32M | 12.21M | 12.08M | 12.16M | 12.2M | 10.17M | 8.14M | 8.93M | 13.02M | 25.65M | 24.4M | 22.7M | 18.6M | 17.2M |
| SG&A % of Revenue | - | 10.35% | 12.14% | 12.59% | 11.22% | 11.37% | 10.14% | 10.07% | 11.2% | 4.29% | 4.48% | 4.73% | 4.85% | 5.16% | 5.18% | 5.85% | 6.39% | 7.73% | 7.01% | 6.72% | 6.67% | 8.86% | 9.82% | 11.7% | 13.7% | 14.54% | 11.84% | 10% | 9.68% | 10.56% | 13.47% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 4M | 8.54M | 6.58M | 3.43M | 0 | 1.53M | 2.22M | 487K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 348K | 255K | 2.57M | 3.1M | 2M | 1.8M | 1.3M |
| Operating Income | 28.29M | 29.18M | 27.99M | 16.49M | 17.9M | 12.05M | 5.3M | 8.47M | 4.16M | 7.81M | 8.62M | 8.51M | 8.3M | 8.85M | 8.52M | 8.62M | 6.8M | 4.27M | 4.59M | 5.15M | 4.81M | 2.77M | 2.17M | 817K | -657K | -4.76M | -5.45M | -100K | 5.5M | 6.2M | 3M |
| Operating Margin % | 4.06% | 4.47% | 6.01% | 4.68% | 5.88% | 4.26% | 2.11% | 4.06% | 2.29% | 1.74% | 2.06% | 2.23% | 2.43% | 2.95% | 2.87% | 3.44% | 3.29% | 2.92% | 2.64% | 2.87% | 2.64% | 2.01% | 2.09% | 1.17% | -1.01% | -5.31% | -2.52% | -0.04% | 2.35% | 3.52% | 2.35% |
| Operating Income Growth % | - | 4.26% | 69.75% | -7.86% | 48.5% | 127.25% | -37.36% | 103.75% | -46.82% | -9.32% | 1.25% | 2.57% | -6.25% | 3.93% | -1.2% | 26.68% | 59.17% | -6.88% | -10.94% | 7.24% | 73.69% | 27.75% | 165.12% | 224.35% | 86.19% | 12.78% | -5354% | -101.82% | -11.29% | 106.67% | 30.43% |
| EBITDA | 36.38M | 36.91M | 32.7M | 19.65M | 20.38M | 14.05M | 6.02M | 9.32M | 4.64M | 8.29M | 8.91M | 8.76M | 8.52M | 9.12M | 8.82M | 8.94M | 7.12M | 4.57M | 4.95M | 5.51M | 5.08M | 3.01M | 2.36M | 1.13M | -263K | -3.95M | -2.89M | 3M | 7.5M | 8M | 4.3M |
| EBITDA Margin % | 5.22% | 5.66% | 7.02% | 5.58% | 6.69% | 4.97% | 2.39% | 4.47% | 2.56% | 1.84% | 2.13% | 2.29% | 2.5% | 3.04% | 2.97% | 3.57% | 3.44% | 3.12% | 2.84% | 3.07% | 2.78% | 2.19% | 2.28% | 1.62% | -0.4% | -4.42% | -1.33% | 1.23% | 3.2% | 4.54% | 3.37% |
| EBITDA Growth % | -1.69% | 12.88% | 66.38% | -3.54% | 44.99% | 133.59% | -35.48% | 101.08% | -44.07% | -6.98% | 1.7% | 2.82% | -6.59% | 3.48% | -1.41% | 25.6% | 55.76% | -7.56% | -10.34% | 8.65% | 68.47% | 27.83% | 108.58% | 529.66% | 93.35% | -36.88% | -196.27% | -60% | -6.25% | 86.05% | 48.28% |
| D&A (Non-Cash Add-back) | 8.08M | 7.73M | 4.71M | 3.16M | 2.48M | 2M | 713K | 858K | 482K | 477K | 296K | 253K | 226K | 274K | 302K | 325K | 317K | 297K | 355K | 361K | 270K | 246K | 191K | 313K | 394K | 804K | 2.57M | 3.1M | 2M | 1.8M | 1.3M |
| EBIT | 27.85M | 27.92M | 30.3M | 17.12M | 16.53M | 12.05M | 6.82M | 8.47M | 6.6M | 7.81M | 8.62M | 8.51M | 8.3M | 8.85M | 9.09M | 8.62M | 6.8M | 4.27M | 4.59M | 5.15M | 4.81M | 2.77M | 2.17M | 817K | -657K | -4.39M | -5.45M | -100K | 5.5M | 6.2M | 3M |
| Net Interest Income | 799K | 0 | 917K | 927K | 159K | 359K | 121K | 500K | 907K | 699K | 318K | 368K | 472K | 562K | 557K | 368K | 405K | 521K | 741K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 866K | 0 | 917K | 927K | 159K | 359K | 121K | 500K | 907K | 699K | 318K | 368K | 472K | 572K | 557K | 368K | 405K | 521K | 741K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 67K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -451K | -1.27M | -2.97M | 291K | -1.36M | 313K | 917K | 582K | 962K | 740K | 317K | 348K | 461K | 562K | 574K | 369K | 407K | 521K | 744K | 991K | 741K | 300K | 112K | 230K | 415K | 318K | -9.54M | 700K | 300K | 200K | 300K |
| Pretax Income | 27.84M | 27.92M | 25.02M | 16.78M | 16.53M | 12.36M | 6.22M | 9.05M | 5.12M | 8.55M | 8.93M | 8.86M | 8.76M | 9.41M | 9.09M | 8.99M | 7.21M | 4.79M | 5.33M | 6.14M | 5.55M | 3.07M | 2.28M | 1.05M | -242K | -4.44M | -14.99M | 600K | 5.8M | 6.4M | 3.3M |
| Pretax Margin % | 4% | 4.28% | 5.37% | 4.77% | 5.43% | 4.38% | 2.47% | 4.33% | 2.82% | 1.9% | 2.14% | 2.32% | 2.57% | 3.13% | 3.06% | 3.59% | 3.49% | 3.28% | 3.07% | 3.42% | 3.04% | 2.23% | 2.2% | 1.5% | -0.37% | -4.96% | -6.92% | 0.25% | 2.47% | 3.63% | 2.58% |
| Income Tax | 6.86M | 6.59M | 6.41M | 4.46M | 4.04M | 3.17M | 1.75M | 2.26M | 1.58M | 3.49M | 3.03M | 3.03M | 3M | 3.02M | 3.6M | 3.45M | 2.79M | 1.93M | 2.17M | 2.44M | 2.28M | 414K | -4.04M | 81K | -270K | 83K | 2.48M | 1.3M | 2.4M | 2.4M | 1M |
| Effective Tax Rate % | 24.64% | 23.6% | 25.61% | 26.57% | 24.41% | 25.61% | 28.07% | 24.99% | 30.86% | 40.82% | 33.94% | 34.18% | 34.23% | 32.08% | 39.61% | 38.37% | 38.68% | 40.21% | 40.64% | 39.74% | 41.09% | 13.5% | -177.52% | 7.74% | 111.57% | -1.87% | -16.56% | 216.67% | 41.38% | 37.5% | 30.3% |
| Net Income | 20.98M | 21.33M | 18.61M | 12.32M | 12.18M | 9.2M | 4.47M | 6.79M | 3.54M | 5.06M | 5.9M | 5.83M | 5.76M | 6.39M | 5.49M | 5.54M | 4.42M | 2.87M | 3.17M | 3.7M | 3.27M | 2.65M | 6.32M | 966K | 28K | -4.52M | -17.47M | -700K | 3.4M | 4M | 2.3M |
| Net Margin % | 3.01% | 3.27% | 4% | 3.5% | 4% | 3.26% | 1.78% | 3.25% | 1.95% | 1.13% | 1.41% | 1.53% | 1.69% | 2.13% | 1.85% | 2.21% | 2.14% | 1.96% | 1.82% | 2.06% | 1.79% | 1.93% | 6.1% | 1.39% | 0.04% | -5.05% | -8.07% | -0.29% | 1.45% | 2.27% | 1.8% |
| Net Income Growth % | 9.47% | 14.62% | 51.02% | 1.17% | 32.42% | 105.59% | -34.08% | 91.83% | -30.11% | -14.22% | 1.22% | 1.22% | -9.9% | 16.47% | -0.9% | 25.29% | 54.2% | -9.44% | -14.5% | 13.31% | 23.18% | -58.04% | 554.45% | 3350% | 100.62% | 74.12% | -2396.29% | -120.59% | -15% | 73.91% | -45.24% |
| Net Income (Continuing) | 20.98M | 21.33M | 18.61M | 12.32M | 12.5M | 9.2M | 4.47M | 6.79M | 3.54M | 5.06M | 5.9M | 5.83M | 5.76M | 6.39M | 5.49M | 5.54M | 4.42M | 2.87M | 3.17M | 3.7M | 3.27M | 2.65M | 6.32M | 966K | 28K | -4.52M | -17.47M | -700K | 3.4M | 4M | 2.3M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.15 | 1.16 | 1.02 | 0.68 | 0.70 | 0.52 | 0.25 | 0.38 | 0.20 | 0.28 | 0.31 | 0.31 | 0.31 | 0.35 | 0.30 | 0.30 | 0.25 | 0.16 | 0.18 | 0.20 | 0.18 | 0.15 | 0.38 | 0.06 | 0.00 | -0.23 | -0.88 | -0.04 | 0.17 | 0.19 | 0.11 |
| EPS Growth % | 6.79% | 14.29% | 48.72% | -2.85% | 34.45% | 106.93% | -33.11% | 86.42% | -28.32% | -9.6% | 0% | 1.63% | -12.77% | 18.49% | -0.83% | 22.45% | 50.77% | -8.45% | -11.25% | 11.11% | 18.03% | -59.6% | 504% | - | 101.1% | 74.07% | -2407.14% | -121.21% | -12% | 70.45% | -57.28% |
| EPS (Basic) | - | 1.16 | 1.02 | 0.68 | 0.70 | 0.52 | 0.25 | 0.38 | 0.20 | 0.28 | 0.31 | 0.32 | 0.31 | 0.36 | 0.31 | 0.32 | 0.25 | 0.16 | 0.18 | 0.21 | 0.20 | 0.17 | 0.41 | 0.07 | 0.00 | -0.23 | -0.88 | -0.04 | 0.18 | 0.21 | 0.12 |
| Diluted Shares Outstanding | 18.22M | 18.1M | 17.86M | 17.6M | 17.32M | 17.09M | 17.15M | 17.68M | 17.43M | 17.2M | 18.01M | 18.61M | 18.81M | 18.1M | 18.51M | 18.42M | 18M | 17.71M | 17.84M | 18.62M | 18.08M | 17.54M | 16.72M | 15.6M | 17.92M | 19.95M | 19.93M | 20.4M | 21M | 21.33M | 20.91M |
| Basic Shares Outstanding | 18.22M | 18.1M | 17.86M | 17.6M | 17.32M | 17.09M | 17.15M | 17.68M | 17.43M | 17.2M | 18.01M | 18.54M | 18.64M | 17.82M | 17.9M | 17.65M | 17.54M | 17.6M | 17.66M | 17.62M | 16.76M | 15.9M | 15.31M | 14.9M | 17.84M | 19.95M | 19.93M | 20.4M | 19.19M | 19.05M | 19.17M |
| Dividend Payout Ratio | - | 14.43% | 16.32% | 24.44% | 24.54% | 32.54% | 67.01% | 45.17% | 86.66% | 60.35% | 54.21% | 55.61% | 56.08% | 47.15% | 54.49% | 53.94% | 65.17% | 98.12% | 88.79% | 72.48% | 68.27% | 70.03% | 25.31% | 115.22% | - | - | - | - | - | - | - |
Vendor concentration and integration
As reported in recent financial filings, CLMB achieved a 32.1% year-over-year revenue increase in 2026Q1, though this follows a period of significant volatility where quarterly growth rates fluctuated between 8.7% and 73.0%, reflecting the company's aggressive acquisition-led strategy and the inherent lumpiness of enterprise software distribution.
The wide variance in quarterly growth suggests that the company's top-line performance is heavily influenced by the timing of large vendor renewals and the integration of acquired entities. Investors should monitor whether this growth is sustainable organically or if it remains tethered to the pace of inorganic expansion.
Based on the provided income statement data, gross margins have trended downward from 19.7% in 2023Q4 to 14.5% in 2026Q1, indicating potential pricing pressure or a shift in the product mix toward lower-margin offerings within the company's specialized distribution and solutions segments.
This contraction warrants further investigation into whether the company is sacrificing pricing power to gain market share among challenger vendors. The decline in gross profitability suggests that the value-added services provided may be facing increased competition, potentially eroding the premium CLMB historically commanded over broadline distributors.
According to the latest quarterly figures, operating income fell to $3.9M in 2026Q1 from a peak of $12.8M in 2024Q4, demonstrating that SG&A expenses are not scaling efficiently with revenue growth and that the company is currently struggling to maintain operating leverage during this expansion phase.
The inability to translate revenue gains into proportional operating income suggests that the cost of supporting a larger, more complex international footprint is outpacing current gross profit generation. This trend may indicate that the company is over-investing in headcount or integration costs ahead of realized operational synergies.
Analysis of the income statement reveals that stock-based compensation remains a recurring expense, reaching $1.4M in 2026Q1, which significantly impacts net income and suggests that reported EPS may be inflated by the exclusion of these non-cash costs in adjusted performance metrics provided by management.
The volatility in net income, exacerbated by these compensation charges and acquisition-related items, makes it difficult to assess the underlying earnings power of the business. Investors should be cautious of relying on headline EPS figures without adjusting for these persistent non-operating and equity-based expenses.
Quick answers to the most common questions about buying CLMB stock.
For fiscal year 2025, Climb Global Solutions, Inc. (CLMB) reported total revenue of $652.5M. This represents a 411.0% increase compared to $127.7M in 1996.
Climb Global Solutions, Inc. (CLMB) is profitable, generating $21.3M in net income for the fiscal year ending 2025 with a net profit margin of 3.3%.
Climb Global Solutions, Inc. (CLMB) reported an operating income of $29.2M, resulting in an operating profit margin of 4.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Climb Global Solutions, Inc. (CLMB) generated $105.3M in gross profit for the year, representing a gross profit margin of 16.1%. This demonstrates the company's core pricing power and production efficiency.