Climb Global Solutions, Inc.

Good morning, everyone, and thank you for participating in today's conference call to discuss Climb Global Solutions financial results for the first quarter and in March 31st, 2023. Join us today, our Climb CEO, Mr. Dale Foster, the company's CFO, Mr. Drew Clark, and the company's investor relation advisor, Mr. Sean Mansuri with Elevate IR. By now, everyone should have access to the first quarter 2023 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 now turn the call over to Mr. Mansouri with introductory comments.

Thank you, Amy. 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. 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 in Form 8K we furnished to the SEC yesterday. I'll now turn the call over to CLIMB's CEO, Dale Foster.

Thank you, Sean, and good morning, everyone. As you can see, our momentum from 2022's records year has carried into our first quarter with significant growth in all of our key financial metrics. Our performance was driven by continuing to execute on our core initiatives, generating organic growth with existing vendors while adding new vendors to our line card, In addition, we continue to drive growth and margin expansion from our integration of Spinnaker, which we acquired last August of last year. Excluding Spinnaker, we generated double-digit growth on both the top and bottom line, demonstrating the strength of our core business as we continue to scale our line card in the U.S. and abroad. Out of the 18 vendors that we evaluated throughout the quarter, we signed agreements with only four of them, demonstrating our commitment to a limited line card that is focused on the most innovative technology brands in the market. I'd like to highlight one of the latest partnerships that we launched in Q1 in North America. We partnered with LogicGate, a vendor that was first part of the Spinnaker portfolio of vendors. They are a leading provider of transformative risk and compliance solutions delivered on their risk cloud platform. We look forward to growing our relationship with LogicGate as we continue to scale our business globally. As many of you are aware, M&A will continue to be an important component of our growth strategy as we continue to evaluate potential targets that would extend our geographic reach, add strategic vendors, as well as enhance our climb team. We began this initiative in 2020 with the acquisition of Interwork Technologies, a Toronto-based value-added specialty distributor, followed by the acquisition of CDF Group, a UK cloud software IT distributor and service provider. As I mentioned earlier, last August we completed the acquisition of Spinnaker, another UK-based IT channel distributor focused in the EMEA region. These accretive transactions have not only extended our geographic reach beyond the United States, but have also enabled us to reap the benefit of cross-selling opportunities between each entity in each region. This further reflected in our recent entry into the French market with Finneker's relationship with vast data. We expect additional cross-selling opportunities as we expand our reach across new regions. Quickly commenting on the macro environment, we do see a potential slow of IT spend across our regions, mainly in hardware sales, which could have a downstream effect on software sales. For example, less investments in hardware such as laptops, computers, and servers could lead to a reduction in various endpoint solutions. With the recent announcements of both large vendors and customers right-sizing their businesses, we will be paying close attention to where we can maintain our growth while being adaptive and agile to the needs of our customers. We believe the core segments of the market where we focus, which includes emerging technology companies, Operating in cybersecurity, storage, HCI, data management, network connectivity, and cloud are somewhat insulated from the broader issues impacting other verticals, as these are key areas of investment for most companies. Looking toward the remainder of 2023, we expect to continue to drive organic growth and further improve our operating leverage as we scale our business. With a strong balance sheet and pipeline of M&A targets, we continue to be selective as we pursue acquisitions that will not only be accreted to our business, but will align with our culture and strategic goals. We've set the tone for 2023 with a strong first quarter and look forward to delivering another year of exceptional growth and profitability. With that, I will turn the call over to our CFO, Drew Clark, and he'll take you through the financial results. Drew?