Climb Global Solutions (NASDAQ:CLMB) Q3 2022 Earnings Conference Call November 3, 2022 8:30 AM ET

Company Participants

Dale Foster - CEO

Drew Clark - CFO

Sean Mansouri - IR Advisor, Elevate IR

Conference Call Participants

Vincent Colicchio - Barrington Research

Operator

Good morning, everyone, and thank you for participating in today's conference call to discuss Climb Global Solutions Financial Results for the Third Quarter Ended September 30, 2022. Joining us today are Climb's CEO, Mr. Dale Foster; the company's CFO, Mr. Drew Clark; and the company's Investor Relations Advisor, Mr. Sean Mansouri for Elevate IR.

By now, everyone should have access to the third quarter 2022 earnings press release, which was issued yesterday afternoon at approximately 4:05 p.m. Eastern Time. The release is available in the Investor Relations section of Climb Global Solutions website at www.climbglobalsolutions.com. This call will also be available for webcast replay on the company's website. Following management's remarks, we'll open the call for your questions.

I would now like to turn the call over to Mr. Sean Mansouri for introductory comments.

Sean Mansouri

Thank you.

Before I introduce Dale, I'd like to remind listeners that certain comments made on this conference call and webcast are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain known and unknown risks and uncertainties as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements.

These forward-looking statements are also subject to other risks and uncertainties that are described from time to time in the company's filings with the SEC. We do not place undue reliance on any forward-looking statements, which are being made only as of the date of this call. Except as required by law, the company undertakes no obligation to revise or publicly release the results of any revision to any forward-looking statements.

Our presentation also includes certain non-GAAP financial measures, including adjusted gross billings, adjusted EBITDA, and effective margin as supplemental measures of performance of our business. All non-GAAP measures have been reconciled to the most directly comparable GAAP measures in accordance with SEC rules. You'll find reconciliation charts and other important information in the earnings press release and Form 8-K we furnished to the SEC yesterday.

I'll now turn the call over to Climb's CEO, Dale Foster.

Dale Foster

Thank you, Sean, and good morning, everyone.

We continued to execute on our core initiatives during the quarter as reflected by the addition of several new vendors to our line card, while generating more than 30% organic growth with our top 20 vendors. This resulted in another strong quarter of growth and profitability, both up double-digits over the prior year.