AcquisitionsApr 30, 2026, 04:34 PM
CLMB Acquires Interworks for $13M; Q1 Revenue +32.1%, Net Income -9.5%
AI Summary
Climb Global Solutions, Inc. acquired Greece-based cloud distributor Interworks for $13 million on February 24, 2026, expanding its reach into Southeastern Europe. For the first quarter of 2026, the company reported a significant increase in net sales to $182.4 million, up 32.1% year-over-year. However, net income decreased by 9.5% to $3.3 million, and diluted earnings per share fell to $0.18.
Key Highlights
- Acquired Interworks, a Greece-based cloud distributor, for $13 million on February 24, 2026.
- Q1 2026 net sales increased 32.1% to $182.4 million from $138.0 million in Q1 2025.
- Q1 2026 net income decreased 9.5% to $3.3 million from $3.7 million in Q1 2025.
- Diluted EPS for Q1 2026 was $0.18, down from $0.20 in Q1 2025.
- Cash and cash equivalents rose to $41.8 million as of March 31, 2026.
- Goodwill increased by $5.8 million due to the Interworks acquisition.
- Foreign operations net sales were $33.0 million in Q1 2026, up from $31.0 million in Q1 2025.
- Completed a four-for-one forward stock split on March 20, 2026.