10-K Filing

Climb Global Solutions, Inc. CIK: 945983 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001558370-24-002476`
Period End Date	20231231
Filing Date	20240305
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	clmb-20231231x10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 32 Cash Flow Statement 64 Stockholders Equity 26 Comprehensive Income 8

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$709.00K	USD	Point-in-time
Accounts receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$842.00K	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.30M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $709 and $842, respectively	`AccountsReceivableNetCurrent`	$154.60M	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $709 and $842, respectively	`AccountsReceivableNetCurrent`	$222.27M	USD	Point-in-time
Inventory, net	`InventoryNet`	$4.77M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	4.48M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	4.57M	shares	Point-in-time
Inventory, net	`InventoryNet`	$3.74M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	711,052.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	806,068.00	shares	Point-in-time
Vendor prepayments and advances	`VendorPrepayments`	$890.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.75M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.14M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$269.06M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$184.64M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$3.52M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$8.85M	USD	Point-in-time
Goodwill	`Goodwill`	$27.18M	USD	Point-in-time
Goodwill	`Goodwill`	$17.19M	USD	Point-in-time
Goodwill	`Goodwill`	$18.96M	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$26.93M	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$19.69M	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$878.00K	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$1.24M	USD	Point-in-time
Accounts receivable, net of current portion	`AccountsReceivableNetNoncurrent`	$3.11M	USD	Point-in-time
Accounts receivable, net of current portion	`AccountsReceivableNetNoncurrent`	$797.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.08M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$350.00K	USD	Point-in-time
Deferred income tax assets	`DeferredIncomeTaxAssetsNet`	$324.00K	USD	Point-in-time
Deferred income tax assets	`DeferredIncomeTaxAssetsNet`	$348.00K	USD	Point-in-time
Total assets	`Assets`	$231.86M	USD	Point-in-time
Total assets	`Assets`	$335.10M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$249.65M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$160.65M	USD	Point-in-time
Lease liability, current portion	`OperatingLeaseLiabilityCurrent`	$521.00K	USD	Point-in-time
Lease liability, current portion	`OperatingLeaseLiabilityCurrent`	$450.00K	USD	Point-in-time
Term loan, current portion	`SecuredDebtCurrent`	$520.00K	USD	Point-in-time
Term loan, current portion	`SecuredDebtCurrent`	$540.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$161.69M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$250.64M	USD	Point-in-time
Lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$879.00K	USD	Point-in-time
Lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$1.30M	USD	Point-in-time
Deferred income tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$4.14M	USD	Point-in-time
Deferred income tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$5.55M	USD	Point-in-time
Term loan, net of current portion	`SecuredLongTermDebt`	$752.00K	USD	Point-in-time
Term loan, net of current portion	`SecuredLongTermDebt`	$1.29M	USD	Point-in-time
Non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.50M	USD	Point-in-time
Non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.87M	USD	Point-in-time
Total liabilities	`Liabilities`	$260.33M	USD	Point-in-time
Total liabilities	`Liabilities`	$171.28M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.01 par value; 10,000,000 shares authorized; 5,284,500 shares issued: 4,573,448 and 4,478,432 shares outstanding, respectively	`CommonStockValue`	$53.00K	USD	Point-in-time
Common stock, $.01 par value; 10,000,000 shares authorized; 5,284,500 shares issued: 4,573,448 and 4,478,432 shares outstanding, respectively	`CommonStockValue`	$53.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$32.72M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$34.65M	USD	Point-in-time
Treasury stock, at cost, 711,052 and 806,068 shares, respectively	`TreasuryStockCommonValue`	$13.23M	USD	Point-in-time
Treasury stock, at cost, 711,052 and 806,068 shares, respectively	`TreasuryStockCommonValue`	$12.62M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$53.22M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$43.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-522.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.87M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$74.77M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$60.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$52.42M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$335.10M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$231.86M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$304.35M	USD	Annual
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$352.01M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$287.77M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$250.25M	USD	Annual
Gross profit	`GrossProfit`	$54.09M	USD	Annual
Gross profit	`GrossProfit`	$64.25M	USD	Annual
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$34.14M	USD	Annual
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$44.33M	USD	Annual
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$629.00K	USD	Annual
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$582.00K	USD	Annual
Depreciation and amortization expense	`DepreciationAndAmortization`	$2.05M	USD	Annual
Depreciation and amortization expense	`DepreciationAndAmortization`	$2.80M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$17.31M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$16.49M	USD	Annual
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$927.00K	USD	Annual
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$159.00K	USD	Annual
Foreign currency transaction loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-636.00K	USD	Annual
Foreign currency transaction loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-941.00K	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$16.78M	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$16.53M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.04M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.46M	USD	Annual
Net income	`NetIncomeLoss`	$12.50M	USD	Annual
Net income	`NetIncomeLoss`	$12.32M	USD	Annual
Income per common share-Basic	`EarningsPerShareBasic`	$2.72	USD	Annual
Income per common share-Basic	`EarningsPerShareBasic`	$2.81	USD	Annual
Income per common share-Diluted	`EarningsPerShareDiluted`	$2.72	USD	Annual
Income per common share-Diluted	`EarningsPerShareDiluted`	$2.81	USD	Annual
Weighted average common shares outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.40M	shares	Annual
Weighted average common shares outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.33M	shares	Annual
Weighted average common shares outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.33M	shares	Annual
Weighted average common shares outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.40M	shares	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$12.50M	USD	Annual
Net income	`ProfitLoss`	$12.32M	USD	Annual
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$2.07M	USD	Annual
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$2.80M	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$19.00K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$54.00K	USD	Annual
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-535.00K	USD	Annual
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-383.00K	USD	Annual
Share-based compensation expense	`ShareBasedCompensation`	$1.90M	USD	Annual
Share-based compensation expense	`ShareBasedCompensation`	$4.15M	USD	Annual
Amortization of discount on accounts receivable	`AdjustmentForAmortizationOfDiscountOnAccountsReceivable`	$-50.00K	USD	Annual
Amortization of discount on accounts receivable	`AdjustmentForAmortizationOfDiscountOnAccountsReceivable`	$-109.00K	USD	Annual
Amortization of right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$366.00K	USD	Annual
Amortization of right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$426.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$35.83M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$29.62M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-3.60M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$2.75M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.45M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.02M	USD	Annual
Vendor prepayments	`IncreaseDecreaseInVendorPrepayments`	$230.00K	USD	Annual
Vendor prepayments	`IncreaseDecreaseInVendorPrepayments`	$-890.00K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$25.41M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$49.67M	USD	Annual
Lease liability, net	`IncreaseDecreaseInOperatingLeaseLiability`	$-503.00K	USD	Annual
Lease liability, net	`IncreaseDecreaseInOperatingLeaseLiability`	$-495.00K	USD	Annual
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-1.26M	USD	Annual
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-1.17M	USD	Annual
Net cash and cash equivalents provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$42.12M	USD	Annual
Net cash and cash equivalents provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.56M	USD	Annual
Purchase of equipment and leasehold improvements	`PaymentsForProceedsFromProductiveAssets`	$2.50M	USD	Annual
Purchase of equipment and leasehold improvements	`PaymentsForProceedsFromProductiveAssets`	$4.99M	USD	Annual
Payment for acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	$12.68M	USD	Annual
Payment for acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	$8.51M	USD	Annual
Net cash and cash equivalents used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.67M	USD	Annual
Net cash and cash equivalents used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.01M	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$655.00K	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$1.71M	USD	Annual
Borrowings under credit facilities	`ProceedsFromLinesOfCredit`	$10.00M	USD	Annual
Repayments of borrowings under credit facilities	`RepaymentsOfLinesOfCredit`	$13.07M	USD	Annual
Borrowings under term loan	`ProceedsFromIssuanceOfSecuredDebt`	$2.15M	USD	Annual
Repayments of borrowings under term loan	`RepaymentsOfSecuredDebt`	$336.00K	USD	Annual
Repayments of borrowings under term loan	`RepaymentsOfSecuredDebt`	$520.00K	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$2.99M	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$3.01M	USD	Annual
Payments of deferred financing costs	`PaymentsOfFinancingCosts`	$637.00K	USD	Annual
Net cash and cash equivalents used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.95M	USD	Annual
Net cash and cash equivalents used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.83M	USD	Annual
Effect of foreign exchange rate on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$544.00K	USD	Annual
Effect of foreign exchange rate on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-743.00K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$16.05M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-9.03M	USD	Annual
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.27M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.30M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.25M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.27M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.25M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaidNet`	$5.43M	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	$4.28M	USD	Annual
Interest paid	`InterestPaidNet`	$50.00K	USD	Annual
Interest paid	`InterestPaidNet`	$180.00K	USD	Annual
Contingent earn-out	`ChangeInFairValueOfContingentEarnOutConsideration`	$1.77M	USD	Annual
Contingent earn-out	`ChangeInFairValueOfContingentEarnOutConsideration`	$2.23M	USD	Annual

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.68	USD	Annual
Dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.68	USD	Annual
Balance	`StockholdersEquity`	$74.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$60.57M	USD	Point-in-time
Balance	`StockholdersEquity`	$52.42M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Treasury Stock, balance (in shares)	`TreasuryStockCommonShares`	711,052.00	shares	Point-in-time
Treasury Stock, balance (in shares)	`TreasuryStockCommonShares`	806,068.00	shares	Point-in-time
Net income	`NetIncomeLoss`	$12.50M	USD	Annual
Net income	`NetIncomeLoss`	$12.32M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-2.62M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$2.35M	USD	Annual
Dividends paid	`DividendsCommonStockCash`	$3.01M	USD	Annual
Dividends paid	`DividendsCommonStockCash`	$2.99M	USD	Annual
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.92M	USD	Annual
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.25M	USD	Annual
Treasury shares repurchased	`TreasuryStockValueAcquiredCostMethod`	$1.71M	USD	Annual
Treasury shares repurchased	`TreasuryStockValueAcquiredCostMethod`	$655.00K	USD	Annual
Balance	`StockholdersEquity`	$74.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$60.57M	USD	Point-in-time
Balance	`StockholdersEquity`	$52.42M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Treasury Stock, balance (in shares)	`TreasuryStockCommonShares`	711,052.00	shares	Point-in-time
Treasury Stock, balance (in shares)	`TreasuryStockCommonShares`	806,068.00	shares	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$12.50M	USD	Annual
Net income	`NetIncomeLoss`	$12.32M	USD	Annual
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-2.62M	USD	Annual
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$2.35M	USD	Annual
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$2.35M	USD	Annual
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-2.62M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$14.67M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.88M	USD	Annual

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.