Climb Global Solutions (CLMB) 10-K 16 Mar 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Feb. 28, 2023	Jun. 30, 2022
Document and Entity Information
Document Type	10-K
Document Transition Report	false
Document Period End Date	Dec. 31, 2022
Entity Registrant Name	Climb Global Solutions, Inc.
Entity File Number	000-26408
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3136104
Entity Address, Address Line One	4 Industrial Way West, Suite 300
Entity Address, City or Town	Eatontown
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07724
City Area Code	732
Local Phone Number	389-0932
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	CLMB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Central Index Key	0000945983
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		4,516,652
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
ICFR Auditor Attestation Flag	true
Auditor Name	BDO USA, LLP
Auditor Firm ID	243
Auditor Location	Woodbridge, New Jersey
Document Annual Report	true
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Public Float			$ 134.8

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 20,245	$ 29,272
Accounts receivable, net of allowance for doubtful accounts of $842 and $881, respectively	154,596	122,502
Inventory, net	4,766	2,022
Vendor prepayments and advances	890	661
Prepaid expenses and other current assets	4,141	4,871
Total current assets	184,638	159,328
Equipment and leasehold improvements, net	3,515	1,932
Goodwill	18,963	17,188
Other intangibles, net	19,693	9,950
Right-of-use assets, net	1,235	1,628
Accounts receivable-long-term, net	3,114	78
Other assets	350	459
Deferred income tax assets	348	189
Total assets	231,856	190,752
Current liabilities:
Accounts payable and accrued expenses	160,650	134,271
Lease liability, current portion	521	475
Term loan, current portion	520
Total current liabilities	161,691	134,746
Lease liability, net of current portion	1,296	1,810
Deferred income tax liabilities	4,137	1,780
Term loan, net of current portion	1,292
Non-current liabilities	2,866
Total liabilities	171,282	138,336
Commitments and contingencies
Stockholders' equity:
Common stock, $.01 par value per share; 10,000,000 shares authorized; 5,284,500 shares issued: 4,478,432 and 4,424,672 shares outstanding, respectively	53	53
Additional paid-in capital	32,715	32,087
Treasury stock, at cost, 806,068 and 859,828 shares, respectively	(13,230)	(13,870)
Retained earnings	43,904	34,396
Accumulated other comprehensive loss	(2,868)	(250)
Total stockholders' equity	60,574	52,416
Total liabilities and stockholders' equity	$ 231,856	$ 190,752

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Consolidated Balance Sheets
Accounts receivable, allowances (in dollars)	$ 842	$ 881
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized	10,000,000	10,000,000
Common Stock, shares issued	5,284,500	5,284,500
Common Stock, shares outstanding	4,478,432	4,424,672
Treasury stock, shares	806,068	859,828

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Consolidated Statements of Earnings
Net sales	$ 304,348	$ 282,582
Cost of sales	250,254	236,866
Gross profit	54,094	45,716
Selling, general, and administrative expenses	34,144	32,136
Acquisition related costs	582	0
Amortization and depreciation expense	2,054	1,529
Income from operations	17,314	12,051
Other income:
Interest, net	159	359
Foreign currency transaction loss	(941)	(46)
Income before provision for income taxes	16,532	12,364
Provision for income taxes	4,035	3,166
Net income	$ 12,497	$ 9,198
Income per common share-Basic	$ 2.81	$ 2.09
Income per common share-Diluted	$ 2.81	$ 2.09
Weighted average common shares outstanding - Basic (in shares)	4,331	4,272
Weighted average common shares outstanding - Diluted (in shares)	4,331	4,272
Dividends paid per common share (in dollars per share)	$ 0.68	$ 0.68

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Consolidated Statements of Comprehensive Income
Net income	$ 12,497	$ 9,198
Other comprehensive (loss) income:
Foreign currency translation adjustments	(2,618)	492
Other comprehensive (loss) income	(2,618)	492
Comprehensive income	$ 9,879	$ 9,690

Consolidated Statements of Stoc

Consolidated Statements of Stockholder's Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Treasury	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Total
Balance at Dec. 31, 2020	$ 53	$ 31,962	$ (14,747)	$ 28,191	$ (742)	$ 44,717
Balance (in shares) at Dec. 31, 2020	5,284,500
Treasury Stock, balance (in shares) at Dec. 31, 2020			922,503
Increase (Decrease) in Stockholders' Equity
Net income				9,198		9,198
Translation adjustment					492	492
Dividends paid				(2,993)		(2,993)
Share-based compensation expense		1,546				1,546
Restricted stock grants (net of forfeitures)		(1,421)	$ 1,421
Restricted stock grants (net of forfeitures) (in shares)			(83,963)
Treasury shares repurchased			$ (544)			(544)
Treasury shares repurchased (in shares)			21,288
Balance at Dec. 31, 2021	$ 53	32,087	$ (13,870)	34,396	(250)	$ 52,416
Balance (in shares) at Dec. 31, 2021	5,284,500					5,284,500
Treasury Stock, balance (in shares) at Dec. 31, 2021			859,828			859,828
Increase (Decrease) in Stockholders' Equity
Net income				12,497		$ 12,497
Translation adjustment					(2,618)	(2,618)
Dividends paid				(2,989)		(2,989)
Share-based compensation expense		1,923				1,923
Restricted stock grants (net of forfeitures)		(1,295)	$ 1,295
Restricted stock grants (net of forfeitures) (in shares)			(74,449)
Treasury shares repurchased			$ (655)			(655)
Treasury shares repurchased (in shares)			20,689
Balance at Dec. 31, 2022	$ 53	$ 32,715	$ (13,230)	$ 43,904	$ (2,868)	$ 60,574
Balance (in shares) at Dec. 31, 2022	5,284,500					5,284,500
Treasury Stock, balance (in shares) at Dec. 31, 2022			806,068			806,068

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net income	$ 12,497	$ 9,198
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
Depreciation and amortization expense	2,066	1,534
Provision for doubtful accounts	19	26
Deferred income tax (benefit) expense	(535)	228
Share-based compensation expense	1,897	1,546
Amortization of discount on accounts receivable	(109)	(55)
Amortization of right-of-use assets	426	468
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(35,826)	(28,577)
Inventory	(2,751)	2,914
Prepaid expenses and other current assets	1,025	(1,004)
Vendor prepayments	(230)	574
Accounts payable and accrued expenses	25,411	18,616
Lease liability, net	(503)	(534)
Other assets and liabilities	1,174	(222)
Net cash and cash equivalents provided by operating activities	4,561	4,712
Cash flows from investing activities
Purchase of equipment and leasehold improvements	(2,502)	(258)
Payment for acquisitions, net of cash acquired	(8,511)
Net cash and cash equivalents used in investing activities	(11,013)	(258)
Cash flows from financing activities
Purchase of treasury stock	(655)	(544)
Borrowings under term loan	2,148
Repayments of borrowings under term loan	(336)
Dividends paid	(2,989)	(2,993)
Contingent consideration		(862)
Net cash and cash equivalents used in financing activities	(1,832)	(4,399)
Effect of foreign exchange rate on cash and cash equivalents	(743)	(131)
Net decrease in cash and cash equivalents	(9,027)	(76)
Cash and cash equivalents at beginning of period	29,272	29,348
Cash and cash equivalents at end of period	20,245	29,272
Supplementary disclosure of cash flow information:
Income taxes paid	4,278	2,700
Interest paid	$ 50	$ 43

Description of Business

Description of Business	12 Months Ended
	Dec. 31, 2022
Description of Business
Description of Business	Note 1. Description of Business ​ Climb Global Solutions, Inc. (formerly known as Wayside Technology Group, Inc.) and Subsidiaries (the “Company”), was incorporated in Delaware in 1982. The Company distributes technology products developed by others to resellers who in turn sell to end customers worldwide. The Company also is a cloud solutions provider and value-added reseller of software, hardware and services to customers worldwide. The Company also operates in Canada, the United Kingdom and Europe. The Company offers an extensive line of products from leading software vendors and tools for virtualization/cloud computing, security, networking, storage and infrastructure management, application lifecycle management and other technically sophisticated domains as well as computer hardware. ​ The Company is organized into two reportable operating segments. The “Distribution” segment distributes technical software to corporate resellers, value added resellers (VARs), consultants and systems integrators worldwide under the name “Climb Channel Solutions”. The “Solutions” segment is a cloud solutions provider and value-added reseller of software, hardware and services to customers worldwide under the names “Grey Matter”.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies ​ Principles of Consolidation and Operations ​ The consolidated financial statements include the accounts of Climb Global Solutions, Inc. and its wholly owned . All intercompany transactions and balances have been eliminated. ​ Business Combinations ​ The Company accounts for business combinations using the acquisition method of accounting, which allocates the fair value of the purchase consideration to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values. The excess of the purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. When determining the fair values of assets acquired and liabilities assumed, management makes significant estimates and assumptions. The Company may utilize third-party valuation specialists to assist the Company in the allocation. Initial purchase price allocations are subject to revision within the measurement period, not to exceed one year from the date of acquisition. Acquisition-related expenses and transaction costs associated with business combinations are expensed as incurred. ​ Use of Estimates ​ The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) requires management to make extensive use of certain estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The significant areas of estimation include but are not limited to accounting for allowance for doubtful accounts, sales returns, allocation of revenue in multiple deliverable arrangements, principal vs. agent considerations, discount rates applicable to long term receivables, inventory obsolescence, income taxes, depreciation, amortization of intangible assets, contingencies and stock-based compensation. Actual results could differ from those estimates. ​ Net Income Per Common Share ​ Our basic and diluted earnings per share are computed using the two-class method. The two-class method is an earnings allocation method that determines net income per share for each class of common stock and participating securities according to their participation rights in dividends and undistributed earnings or losses. Non-vested restricted stock awards that include non-forfeitable rights to dividends are considered participating securities. Per share amounts are computed by dividing net income available to common shareholders by the weighted average shares outstanding during each period. Diluted and basic earnings per share are the same because the restricted shares are the only potentially dilutive security. ​ A reconciliation of the numerators and denominators of the basic and diluted per share computations follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2022 2021 Numerator: ​ ​ ​ ​ ​ ​ Net income ​ $ 12,497 ​ $ 9,198 ​ ​ ​ ​ ​ ​ ​ Less distributed and undistributed income allocated to participating securities ​ ​ 317 ​ ​ 269 ​ ​ ​ ​ ​ ​ ​ Net income attributable to common shareholders ​ ​ 12,180 ​ ​ 8,929 ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ Weighted average common shares (Basic) ​ ​ 4,331 ​ 4,272 ​ ​ ​ ​ ​ Weighted average common shares including assumed conversions (Diluted) ​ ​ 4,331 ​ 4,272 ​ ​ ​ ​ ​ ​ ​ Basic net income per share ​ $ 2.81 ​ $ 2.09 Diluted net income per share ​ $ 2.81 ​ $ 2.09 ​ Cash Equivalents ​ The Company considers all liquid short-term investments with maturities of 90 days or less when purchased to be cash equivalents. ​ Accounts Receivable ​ Accounts receivable principally represents amounts collectible from our customers. The Company performs ongoing credit evaluations of its customers but generally does not require collateral to support any outstanding obligation. From time to time, we sell accounts receivable to a financial institution on a non-recourse basis for cash, less a discount. The Company has no significant retained interests or servicing liabilities related to the accounts receivable sold. Proceeds from the sale of receivables approximated their discounted book value and were included in operating cash flows on the Consolidated Statements of Cash Flows. ​ Allowances for Accounts Receivable ​ We provide an allowance for doubtful accounts related to accounts receivable for estimated losses resulting from the inability of our customers to make required payments. We take into consideration the overall quality and aging of the receivable portfolio along with specifically identified customer risks. If actual customer payment performance were to deteriorate to an extent not expected, additional allowances may be required. At the time of sale, we also record an estimate for sales returns based on historical experience, which is included in accounts payable and accrued expenses on the Consolidated Balance Sheets. If actual sales returns are greater than estimated by management, an additional return allowance may be required as an offset to net sales. ​ Foreign Currency Translation ​ Assets and liabilities of the Company’s foreign subsidiaries have been translated using the end of the reporting period exchange rates, and related revenues and expenses have been translated at average rates of exchange in effect during the period. Cumulative translation adjustments have been classified within accumulated other comprehensive loss, which is a separate component of stockholders’ equity in accordance FASB ASC Topic No. 220, “Comprehensive Income”. Foreign currency transaction gains and losses are recorded as income or expenses as amounts are settled. ​ For foreign currency remeasurement from each local currency into the appropriate functional currency, monetary assets and liabilities are remeasured to functional currencies using current exchange rates in effect at the balance sheet date. Gains or losses from these remeasurements have been included in the Company's Consolidated Statements of Earnings. Non-monetary assets and liabilities are recorded at historical exchange rates. ​ Concentration of Credit Risk ​ Financial instruments that potentially subject the Company to concentrations in credit risk consist of cash and cash equivalents. ​ The Company’s cash and cash equivalents, at times, may exceed federally insured limits. The Company’s cash and cash equivalents are deposited primarily in banking institutions with global operations. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents. ​ Financial Instruments ​ The carrying amounts of financial instruments, including cash and cash equivalents, accounts receivable and accounts payable approximated fair value as of December 31, 2022 and 2021, because of the relative short maturity of these instruments. The Company’s accounts receivable-long-term is discounted to its present value at prevailing market rates at the time of sale which, approximates fair value as of December 31, 2022 and 2021. ​ Inventory ​ Inventory, consisting primarily of finished products held for resale, is valued based on the first-in-first-out method of accounting and is stated at the lower of cost or net realizable value. ​ Vendor Prepayments and Advances ​ Vendor prepayments represents advance payments made to vendors to be applied against future purchases. Any amounts not expected to be utilized to apply against purchases within one year are reclassified to other long-term assets. ​ Equipment and Leasehold Improvements ​ Equipment and leasehold improvements are stated at cost or fair value, if purchased as part of a business combination. Equipment depreciation is calculated using the straight-line method over three ​ Software Development Costs ​ four million, respectively, which are included in "Equipment and leasehold improvements" in the Company's Consolidated Balance Sheets. As of December 31, 2022, this includes ​ Accounts Receivable-Long-Term ​ Accounts receivable-long-term result from product sales with extended payment terms that are discounted to their present values at the prevailing market rates at the time of sale. In subsequent periods, the accounts receivable is increased to the amounts due and payable by the customers through the accretion of interest income on the unpaid accounts receivable due in future years. The amounts under these long-term accounts receivable due within one year are reclassified to the current portion of accounts receivable. ​ Goodwill ​ ​ In a qualitative assessment, we assess qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount, including goodwill. If, after assessing the totality of events or circumstances, we determine that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then the quantitative goodwill impairment test is unnecessary. ​ If, after assessing the totality of events or circumstances, we determine that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then we perform the quantitative goodwill impairment test. We may also elect the unconditional option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to performing the quantitative goodwill impairment test. ​ In the quantitative impairment test, we compare the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired. Conversely, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. ​ Determining the fair value of a reporting unit is judgmental in nature and requires the use of significant estimates and assumptions, including net sales growth rates, gross profit margins, operating margins, discount rates and future market conditions, among others. Any changes in the judgments, estimates or assumptions used could produce significantly different results. ​ Intangible Assets ​ Intangible assets with determinable lives are amortized on a straight-line basis over their respective estimated useful lives, which is determined based on their expected period of benefit. Intangible assets are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. If the carrying amount of an asset exceeds its estimated future undiscounted cash flows, an impairment loss is recorded for the excess of the asset's carrying amount over its fair value. In addition, each quarter, the Company evaluates whether events and circumstances warrant a revision to the remaining estimated useful life of each of these intangible assets. If the Company were to determine that a change to the remaining estimated useful life of an intangible asset was necessary, then the remaining carrying amount of the intangible asset would be amortized prospectively over that revised remaining useful life. ​ Comprehensive Income ​ Comprehensive income consists of net income for the year and the impact of unrealized foreign currency translation adjustments. The foreign currency translation adjustments are not currently adjusted for income taxes as they relate to permanent investments in international subsidiaries. ​ Revenue Recognition The Company’s revenues primarily result from the sale of various technology products and services, including third-party products, third-party software and third-party maintenance, software support and services. The Company recognizes revenue as control of the third-party products and third-party software is transferred to customers, which generally happens at the point of shipment or fulfilment and at the point that our customers and vendors accept the terms and conditions of the arrangement for third-party maintenance, software support and services. The Company has contracts with certain customers where the Company’s performance obligation is to arrange for the products or services to be provided by another party. In these arrangements, as the Company assumes an agency relationship in the transaction, revenue is recognized in the amount of the net fee associated with serving as an agent. These arrangements primarily relate to third party maintenance, cloud services and certain security software whose intended functionality is dependent on third party maintenance. The Company allows its customers to return product for exchange or credit subject to certain limitations. A liability is recorded at the time of sale for estimated product returns based upon historical experience and an asset is recognized for the amount expected to be recorded upon product return. The Company also provides rebates and other discounts to certain customers which are considered variable consideration. A provision for customer rebates and other discounts is recorded as a reduction of revenue at the time of sale based on an evaluation of the contract terms and historical experience. The Company considers shipping and handling activities as costs to fulfill the sales of products. Shipping revenue is included in net sales when control of the product is transferred to the customer, and the related shipping and handling costs are included in cost of sales. Taxes imposed by governmental authorities on the Company’s revenue producing activities with customers, such as sales taxes and value added taxes, are excluded from net sales. The Company disaggregates its operating revenue by segment, geography and timing of revenue recognition, which the Company believes provides a meaningful depiction of the nature of its revenue. For additional information, see Note 13 (Industry, Segment and Geographic Information). ​ Hardware and software products sold by the Company are generally delivered via shipment from the Company’s facilities, drop shipment directly from the vendor, or by electronic delivery of keys for software products. The majority of the Company’s business involves shipments directly from its vendors to its customers, in these transactions, the Company is generally responsible for negotiating price both with the vendor and customer, payment to the vendor, establishing payment terms with the customer, product returns, and has risk of loss if the customer does not make payment. As the principal with the customer, the Company recognizes revenue upon receiving notification from the vendor that the product was shipped. Control of software products is deemed to have passed to the customer when they acquire the right to use or copy the software under license as substantially all product functionality is available to the customer at the time of sale. ​ The Company performs an analysis of the number of days of sales in-transit to customers at the end of each reporting period based on an analysis of commercial delivery terms that include drop-shipment arrangements. This analysis is the basis upon which the Company estimates the amount of net sales in-transit at the end of the period and adjusts revenue and the related costs to reflect only what has been delivered to the customer. Changes in delivery patterns may result in a different number of business days estimated to make this adjustment. The Company also performs a weighted average analysis of the estimated number of days between order fulfillment and beginning of the renewal term for term licenses recorded on a gross basis, and a deferral estimate is recorded for term license renewals fulfilled prior to commencement date. Generally, software products are sold with accompanying third-party delivered software assurance, which is a product that allows customers to upgrade, at no additional cost, to the latest technology if new capabilities are introduced during the period that the software assurance is in effect. The Company evaluates whether the software assurance is a separate performance obligation by assessing if the third-party delivered software assurance is critical or essential to the core functionality of the software itself. This involves considering if the software provides its original intended functionality to the customer without the updates, if the customer would ascribe a higher value to the upgrades versus the up-front deliverable, if the customer would expect frequent intelligence updates to the software (such as updates that maintain the original functionality), and if the customer chooses to not delay or always install upgrades. If the Company determines that the accompanying third-party delivered software assurance is critical or essential to the core functionality of the software license, the software license and the accompanying third-party delivered software assurance are recognized as a single performance obligation. The value of the product is primarily the accompanying support delivered by a third party and therefore the Company is acting as an agent in these transactions and recognizes them on a net basis at the point the associated software license is delivered to the customer. The Company sells cloud computing solutions that utilize third-party vendors to enable customers to access data center functionality in a cloud-based solution, including storage, computing and networking and access to software in the cloud that enhances office productivity, provides security or assists in collaboration. The Company recognizes revenue for cloud computing solutions for arrangements with one-time invoicing to the customer at the time of invoice on a net basis as the Company is acting as an agent in the transaction. For monthly subscription-based arrangements, the Company is acting as an agent in the transaction and recognizes revenue as it invoices the customer for its monthly usage on a net basis. For software licenses where the accompanying third-party delivered software assurance is not critical or essential to the core functionality, the software assurance is recognized as a separate performance obligation, with the associated revenue recognized on a net basis at the point the related software license is delivered to the customer. The Company also sells some of its products and services as part of bundled contract arrangements containing multiple deliverables, which may include a combination of products and services. For each deliverable that represents a distinct performance obligation, total arrangement consideration is allocated based upon the standalone selling prices (“SSP”) of each performance obligation. SSP is determined based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through established standard prices, we use judgement and estimate the standalone selling price considering available information such as market pricing and pricing related to similar products. ​ Freight The Company records freight billed to its customers as net sales and the related freight costs as cost of sales when the underlying product revenue is recognized. For freight not billed to its customers, the Company records the freight costs as cost of sales. The Company’s typical shipping terms result in shipping being performed before the customer obtains control of the product. The Company considers shipping to be a fulfillment activity and not a separate performance obligation. ​ Commissions ​ The Company pays commissions and related payroll taxes to sales personnel when customers are invoiced. These costs are recorded as selling general and administrative expenses in the period earned as all our performance obligations are complete within a short window of processing the order. ​ Stock-Based Compensation ​ The Company has stockholder-approved stock incentive plans for employees and directors. Stock-based compensation is recognized based on the grant date fair value and is recognized as expense on a straight-line basis over the requisite service period. ​ Operating Segments ​ assessing performance. The Company's operations are classified into two reportable business segments: Distribution and Solutions. For additional information, see Note 13 (Industry, Segment and Geographic Information). ​ Treasury Stock ​ Treasury stock is accounted for at cost. Shares repurchased by the Company are held in treasury for general corporate purposes, including issuances under equity incentive plans. The reissuance of shares from treasury stock is based on the weighted average purchase price of the shares. ​ Interest, net ​ ​ Income Taxes ​ The Company utilizes the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities and are measured using enacted tax rates and laws that will be in effect when the differences are expected to reverse. This method also requires a valuation allowance against the net deferred tax asset if, based on the weighted available evidence, it is more likely than not that some or all the deferred tax assets will not be realized. The Company’s policy is to recognize interest and penalties related to uncertain tax positions in income tax expense when assessed. The Company accounts for uncertainties in accordance with FASB ASC 740 “Income Taxes”. This standard clarified the accounting for uncertainties in income taxes. The standard prescribes criteria for recognition and measurement of tax positions. It also provides guidance on derecognition, classification, interest and penalties, and disclosures related to income taxes associated with uncertain tax positions. The Company classifies all deferred tax asset or liabilities as non-current on the balance sheet. ​ Foreign Exchange ​ ​ Recently Issued Accounting Pronouncements ​ In June 2016, the FASB issued Accounting Standards Update No. 2016-13, “Financial Instruments - Credit Losses (Topic 326)” Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic Effective January 1, 2023, the company will adopt the update using a modified retrospective approach with a cumulative-effect adjustment to retained earnings. The new credit loss standard is not expected to have a material effect on our financial position, results of operations or cash flows.

Acquisition

Acquisition	12 Months Ended
	Dec. 31, 2022
Acquisition
Acquisition	3. Acquisition ​ Acquisition of Spinnakar Limited ​ On August 18, 2022, the Company entered into a Share Purchase Agreement and purchased the entire share capital of Spinnakar Limited (“Spinnakar”) for an aggregate purchase price of approximately £9.8 million (equivalent to $11.8 million USD), subject to certain working capital and other adjustments, paid at closing plus a potential post-closing earn-out. The allocation of the purchase price was based upon the estimated fair value of Spinnakar’s net tangible and identifiable intangible assets as of the date of the acquisition. The transaction was accounted for under the purchase method of accounting. ​ The financial position and operating results of Spinnakar is included in the Company’s consolidated financial statements from the date of acquisition. The Company recorded net revenue for Spinnakar of approximately $6.0 million and net income of approximately $0.4 million during the year ended December 31, 2022. ​ The impact of the acquisition’s preliminary purchase price allocations on the Company’s consolidated balance sheet and the acquisition date fair value of the total consideration transferred is depicted in the table below. Due to the timing of the closing of the transaction in the third quarter of 2022, the Company has not yet completed its evaluation and determination of certain assets acquired and liabilities assumed, primarily the final valuation of goodwill and intangible assets and the final evaluation and assessment of income tax accounts; therefore, the final fair value of the assets acquired and liabilities assumed, which will be completed within the measurement period of up to one year from the acquisition date, may vary from the Company’s preliminary estimates: ​ ​ ​ ​ ​ (in thousands) ​ ​ ​ Cash ​ $ 3,325 Trade accounts receivable ​ ​ 1,852 Other current assets ​ ​ 367 Vendor relationships (10.4-year weighted average useful life) ​ ​ 11,687 Goodwill ​ ​ 3,244 Accounts payable and other current liabilities ​ ​ (3,977) Deferred income tax liabilities ​ ​ (2,892) Net assets ​ $ 13,606 ​ ​ ​ ​ ​ (in thousands) ​ ​ ​ Supplementary information: ​ ​ ​ Cash paid to sellers ​ $ 11,836 Contingent earn-out ​ ​ 1,771 Total purchase consideration ​ $ 13,607 ​ ​ ​ ​ Cash paid to sellers ​ ​ 11,836 Cash acquired in acquisition ​ ​ (3,325) Net cash paid for acquisition ​ $ 8,511 ​ Intangible assets are comprised of approximately $11.7 million of vendor relationships with a weighted average amortization period of 10.4 years, representing the expected period of benefits. Goodwill, which was allocated to the Distribution segment, is the excess of the consideration transferred over the net assets recognized and represents the expected revenue and cost synergies of the combined company and assembled workforce. Goodwill recognized as a result of the acquisition is not deductible for income tax purposes. ​ The purchase consideration includes approximately $1.8 million fair value for potential earn-out consideration if certain targets are achieved, payable in cash. The earn-out liability is included in non-current liabilities as of December 31, 2022, as any payments upon achievement of the certain targets wouldn’t be due within the next 12 months. ​ The Company incurred acquisition related costs of approximately $0.6 million during the year ended December 31, 2022 in conjunction with the Spinnakar acquisition, which is reflected in the accompanying consolidated statements of earnings. There were no acquisition related costs incurred during the year ended December 31, 2021. ​

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2022
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	4. Goodwill and Other Intangible Assets ​ ​ ​ ​ ​ Balance at January 1, 2021 ​ $ 16,816 Translation adjustments ​ ​ 372 Balance December 31, 2021 ​ $ 17,188 Goodwill acquired ​ ​ 3,244 Translation adjustments ​ ​ (1,469) Balance at December 31, 2022 ​ $ 18,963 ​ Information related to the Company’s other intangibles, net is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ Gross Carrying Amount ​ Accumulated Amortization ​ Net Carrying Amount Customer and vendor relationships ​ $ 21,457 ​ ​ 2,165 ​ ​ 19,292 Trade name ​ ​ 468 ​ ​ 67 ​ ​ 401 Total ​ $ 21,925 ​ $ 2,232 ​ $ 19,693 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ ​ Gross Carrying Amount ​ Accumulated Amortization ​ Net Carrying Amount Customer and vendor relationships ​ $ 10,550 ​ $ 1,079 ​ $ 9,471 Trade name ​ ​ 519 ​ ​ 40 ​ ​ 479 Total ​ $ 11,069 ​ $ 1,119 ​ $ 9,950 ​ Customer relationships are amortized over thirteen years. Vendor relationships are amortized between eight The Company recognized total amortization expense for other intangibles, net of $1.2 million and $0.9 million during the years ended December 31, 2022 and 2021, respectively. Estimated future amortization expense of the Company’s other intangibles, net as of December 31, 2022 is as follows: ​ ​ ​ ​ ​ 2023 ​ 1,875 2024 ​ 1,875 2025 ​ 1,875 2026 ​ 1,875 2027 ​ ​ 1,875 Thereafter ​ 10,318 Total ​ $ 19,693 ​

Right-of-use Asset and Lease Li

Right-of-use Asset and Lease Liability	12 Months Ended
	Dec. 31, 2022
Right-of-use Asset and Lease Liability
Right-of-use Asset and Lease Liability	5. Right-of-use Asset and Lease Liability ​ The Company has entered into operating leases for office and warehouse facilities, which have terms at lease commencement that range from 3 years to 11 years . The Company determines if an arrangement is a lease at inception. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets and lease expense for these leases is recognized on a straight-line basis over the lease term. ​ Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at commencement date of the lease based on the present value of the lease payments over the lease term. As our leases do not provide a readily determinable implicit rate, we use an incremental borrowing rate based on the information available at commencement date, including lease term, in determining the present value of future payments. The operating lease asset also includes any lease payments made and excludes lease incentives. Operating lease expense is recognized on a straight-line basis over the lease term and included in selling, general and administrative expenses. ​ Information related to the Company’s right-of-use assets and related lease liabilities were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, ​ ​ ​ 2022 ​ ​ 2021 Cash paid for operating lease liabilities ​ $ 647 ​ $ 598 Right-of-use assets obtained in exchange for new operating lease obligations ​ $ 63 ​ $ 163 Weighted-average remaining lease term ​ ​ 3.9 years ​ ​ 5.1 years Weighted-average discount rate ​ ​ 3.5% ​ ​ 3.5% ​ Maturities of lease liabilities as of December 31, 2022 were as follows: ​ ​ ​ ​ ​ 2023 ​ 624 2024 ​ 540 2025 ​ 548 2026 ​ 546 2027 ​ ​ 125 ​ ​ ​ 2,383 Less: imputed interest ​ ​ (566) Total lease liabilities ​ $ 1,817 ​ ​ ​ ​ Lease liabilities, current portion ​ ​ 521 Lease liabilities, net of current portion ​ ​ 1,296 Total lease liabilities ​ $ 1,817

Balance Sheet Detail

Balance Sheet Detail	12 Months Ended
	Dec. 31, 2022
Balance Sheet Detail
Balance Sheet Detail	6. Balance Sheet Detail ​ Equipment and leasehold improvements, net consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2022 2021 Equipment ​ $ 2,720 ​ $ 2,627 Capitalized software ​ ​ 2,997 ​ ​ 816 Leasehold improvements ​ 1,848 ​ 1,762 ​ ​ 7,565 ​ 5,205 Less accumulated depreciation and amortization ​ (4,050) ​ (3,273) ​ ​ $ 3,515 ​ $ 1,932 ​ Depreciation expense relating to equipment and leasehold improvements, net was $0.4 million and $0.5 million during the years ended December 31, 2022 and 2021, respectively. Amortization expense relating to capitalized software was $0.4 million and $0.1 million during the years ended December 31, 2022 and 2021. ​ Accounts receivable – long term, net consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ ​ ​ ​ 2022 2021 ​ ​ Total amount due from customers ​ $ 5,213 ​ $ 484 ​ ​ ​ Less: unamortized discount ​ (188) ​ (8) ​ ​ ​ Less: current portion included in accounts receivable ​ (1,911) ​ (398) ​ ​ ​ ​ ​ $ 3,114 ​ $ 78 ​ ​ ​ ​ Accounts payable and accrued expenses consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ ​ 2022 2021 Trade accounts payable ​ $ 151,180 ​ $ 125,908 ​ Accrued expenses ​ 9,470 ​ 8,363 ​ ​ ​ $ 160,650 ​ $ 134,271 ​ ​ Accumulated other comprehensive loss consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2022 2021 ​ Foreign currency translation adjustments ​ $ (2,618) ​ $ 492 ​ ​ ​ $ (2,618) ​ $ 492 ​ ​

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Taxes
Income Taxes	7. Income Taxes ​ Deferred tax attributes resulting from differences between the tax basis of assets and liabilities and the reported amounts in the Consolidated Balance Sheets are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2022 2021 Deferred tax assets: ​ ​ ​ ​ ​ ​ ​ Accruals and reserves ​ $ 631 ​ $ 501 ​ Deferred rent credit ​ ​ 146 ​ ​ 163 ​ Depreciation and amortization ​ ​ 38 ​ ​ 24 ​ Total deferred tax assets ​ ​ 815 ​ ​ 688 ​ Deferred tax liabilities: ​ ​ ​ ​ ​ ​ ​ Accruals and reserves ​ ​ — ​ ​ (67) ​ Depreciation and amortization ​ ​ (4,604) ​ (2,212) ​ Total deferred tax liabilities ​ ​ (4,604) ​ ​ (2,279) ​ Net deferred tax liabilities ​ $ (3,789) ​ $ (1,591) ​ ​ The provision for income taxes is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2022 2021 Current: ​ ​ ​ ​ ​ ​ ​ Federal ​ $ 2,694 ​ $ 1,692 ​ State ​ 622 ​ 572 ​ Foreign ​ 1,254 ​ 674 ​ ​ ​ 4,570 ​ 2,938 ​ Deferred: ​ ​ ​ ​ ​ ​ ​ Federal ​ (124) ​ (45) ​ State ​ ​ (30) ​ ​ (12) ​ Foreign ​ (381) ​ 285 ​ ​ ​ (535) ​ 228 ​ ​ ​ $ 4,035 ​ $ 3,166 ​ Effective Tax Rate ​ 24.4 % 25.6 % ​ The reasons for the difference between total tax expense and the amount computed by applying the U.S. statutory federal income tax rate to income before income taxes are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2022 2021 Statutory rate applied to pretax income ​ $ 3,472 ​ $ 2,596 ​ State income taxes, net of federal income tax benefit ​ 468 ​ 442 ​ Other permanent items ​ ​ 156 ​ ​ 19 ​ Foreign income taxes over U.S. statutory rate ​ 137 ​ (18) ​ Other items ​ 11 ​ (36) ​ Adjustment for foreign rate change ​ ​ — ​ ​ 353 ​ Dividends ​ ​ (9) ​ ​ (17) ​ GILTI, net of foreign tax credits ​ ​ (50) ​ ​ (38) ​ Stock compensation ​ ​ (150) ​ ​ (135) ​ Income tax expense ​ $ 4,035 ​ $ 3,166 ​ ​ The Company has analyzed filing positions in all the federal, state and foreign jurisdictions where it is required to file income tax returns, as well as all open tax years in these jurisdictions. The Company has identified its federal consolidated tax return, its state tax returns, its Canadian tax return and its tax return in the United Kingdom as major tax jurisdictions. As of December 31, 2022, the Company’s 2019 through 2021 Federal tax returns remain open for examination. The Company’s various states and Canadian tax returns are open for examination for the years 2018 through 2021. The Company’s tax return in the United Kingdom is open for examination for the years 2020 and 2021. The Company’s policy is to recognize interest related to unrecognized tax benefits as interest expense and penalties as operating expenses. The Company believes that it has appropriate support for the income tax positions it takes and expects to take on its tax returns, and that its accruals for tax liabilities are adequate for all open years based on an assessment of many factors including experience and interpretations of tax law applied to the facts of each matter. ​ For financial reporting purposes, income before income taxes includes the following components: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2022 2021 United States ​ $ 12,968 ​ $ 9,355 ​ Foreign ​ 3,564 ​ 3,009 ​ ​ ​ $ 16,532 ​ $ 12,364 ​ ​ ​ ​ There was no activity related to the Company’s unrecognized tax benefits during the year ended December 31, 2022. The following table summarizes the activity related to the Company’s unrecognized tax benefits as of December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 Balance as of January 1 ​ ​ ​ ​ $ 49 Additions related to prior period tax positions ​ ​ ​ ​ ​ - Reductions related to settlements with tax authorities ​ ​ ​ ​ ​ (49) Balance as of December 31 ​ ​ ​ ​ $ - ​ During the years ended December 31, 2022 and 2021, the Company incurred interest and penalties of zero, respectively, related to these uncertain tax benefits.

Credit Facility

Credit Facility	12 Months Ended
	Dec. 31, 2022
Credit Facility.
Credit Facility	8. Credit Facility ​ On November 15, 2017, the Company entered into a $20 million revolving credit facility (the “Credit Facility”) with Citibank, N.A. (“Citibank”) pursuant to a Second Amended and Restated Revolving Credit Loan Agreement (the “Loan Agreement”), Second Amended and Restated Revolving Credit Loan Note (the “Note”), Second Amended and Restated Security Agreement and Second Amended and Restated Pledge and Security Agreement. On August 31, 2020, the Company entered into an amendment to the Credit Facility (the “Amended Credit Facility”) pursuant to a First Amendment to Second Amended and Restated Revolving Credit Loan Agreement and Other Loan Documents (collectively, the “Amended Loan Agreement”) and First Allonge to Second Amended and Restated Revolving Credit Loan Note (the “Amended Note”). ​ The Amended Credit Facility, which will continue to be used for working capital and general corporate purposes, matures on June 30, 2023, at which time the Company must pay all outstanding principal of all outstanding loans plus all accrued and unpaid interest, and any, fees, costs and expenses. In addition, the Company will pay regular monthly payments of all accrued and unpaid interest. The interest rate for any borrowings under the Amended Credit Facility is subject to change from time to time based on the changes in the LIBOR Rate, as defined in the Amended Loan Agreement, with the LIBOR Rate not to be less than 0.75 percentage points. Interest on the unpaid principal balance of the Amended Note will be calculated using a rate of 1.75 percentage points over the LIBOR Rate. If the LIBOR Rate becomes unavailable during the term of the Amended Credit Facility, interest will be based upon the Benchmark Replacement (as defined in the Amended Loan Agreement) selected by Citibank after notifying the Company. The Amended Credit Facility is secured by the assets of the Company. At December 31, 2022 and 2021, the Company had no borrowings outstanding under the Credit Facility. The Company incurred $0.1 million of interest expense, related to the Credit Facility during the years ended December 31, 2022 and 2021, respectively . On April 13, 2021, Wayside Technology UK Holdings Limited (“Wayside UK”), a wholly-owned subsidiary of the Company, entered into an uncommitted short term credit facility of £8 million (“Uncommitted Credit Facility”) with Citibank N.A., London Branch (“Citibank London”) pursuant to certain terms and conditions. Obligations under the Uncommitted Credit Facility are guaranteed by the Company and will be used for working capital and general corporate purposes and have a maturity date of April 13, 2023, at which time Wayside UK must pay all outstanding principal of all outstanding loans plus all accrued and unpaid interest, and any interest, fees, costs and expenses, if any. ​ Interest on the unpaid principal balance of the Uncommitted Credit Facility will be calculated using a rate of 1.85 percentage points over the Daily Rate, as defined in the Uncommitted Credit Facility. Amounts borrowed under the Uncommitted Credit Facility will be guaranteed by the Company. The Uncommitted Credit Facility may be cancelled at any time by Citibank London. Citibank London has the sole discretion to accept or reject any requested utilization of the Uncommitted Credit Facilitation. ​ At December 31, 2022 and 2021, Wayside UK had no borrowings outstanding under the Uncommitted Credit Facility. ​ On April 8, 2022, the Company entered into a $2.1 million term loan (the “Term Loan”) with First American Commercial Bancorp, Inc. pursuant to a Master Loan and Security Agreement. The proceeds from the Term Loan will be used to fund certain capital expenditures. The borrowing under the Term Loan bears interest at a rate of 3.73% per annum and is being repaid over forty-eight ​ As of December 31, 2022, the Company had $1.8 million outstanding under the Term Loan. There were no amounts outstanding under the Term Loan as of December 31, 2021. ​ As of December 31, 2022, future principal payments under the Term Loan are as follows: ​ ​ ​ ​ ​ Year ended December 31, ​ ​ ​ 2023 ​ ​ 520 2024 ​ ​ 540 2025 ​ ​ 560 2026 ​ ​ 192 Total ​ $ 1,812 ​

Stockholders' Equity and Stock

Stockholders' Equity and Stock Based Compensation	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity and Stock Based Compensation
Stockholders' Equity and Stock Based Compensation	9. Stockholders’ Equity and Stock-Based Compensation ​ The 2021 Omnibus Incentive Plan (the “2021 Plan”) authorizes the grant of Stock Options, Stock Units, Stock Appreciation Rights, Restricted Stock, Deferred Stock, Stock Bonuses and other equity-based awards. The 2021 Plan was approved by the Company’s stockholders at the 2021 Annual Meeting in June 2021. The total number of shares of the Company’s common stock, par value $0.01 per share (“Common Stock”) initially available for award under the 2021 Plan was 500,000 shares. As of December 31, 2022, the number of shares of Common Stock available for future award grants to employees, officers and directors under the 2021 Plan is 373,594. The 2012 Stock-Based Compensation Plan (the “2012 Plan”) authorizes the grant of Stock Options, Stock Units, Stock Appreciation Rights, Restricted Stock, Deferred Stock, Stock Bonuses and other equity-based awards. The total number of shares of the Company’s Common Stock initially available for award under the 2012 Plan was 600,000, which was increased to 1,000,000 shares by stockholder approval at the Company’s 2018 Annual Meeting in June 2018. Immediately prior to the replacement of the 2012 Plan by the 2021 Plan, there were 352,158 shares of Common Stock available under the 2012 Plan. The 2012 Plan has been replaced by the 2021 Plan and none of the remaining shares of Common Stock authorized under the 2012 Plan will be transferred to or used under the 2021 Plan nor will any awards under the 2012 Plan that are forfeited increase the shares available for awards under the 2021 Plan. As of December 31, 2022, the number of shares of Common Stock available under the 2012 Plan is zero. ​ During the year ended December 31, 2022, the Company granted a total of 78,505 shares of Restricted Stock to officers, directors and employees. These shares of Restricted Stock vest immediately or over time in up to sixteen equal quarterly installments. During the year ended December 31, 2022, 4,056 shares of Restricted Stock were forfeited as a result of employees terminating employment with the Company. ​ During the year ended December 31, 2021, the Company granted a total of 106,122 shares of Restricted Stock to officers, directors and employees. These shares of Restricted Stock vest immediately or over time in up to sixteen equal quarterly installments. During the year ended December 31, 2021, 22,159 shares of Restricted Stock were forfeited as a result of officers and employees terminating employment with the Company. ​ There was no options activity during the year ended December 31, 2022 and 2021 and there were no options outstanding or exercisable at December 31, 2022 and 2021, respectively, under both the Company’s 2012 Plan and 2021 Plan. ​ Under the various plans, options that are cancelled can be reissued. At December 31, 2022, no cancelled options were reserved for future reissuance. ​ A summary of nonvested shares of Restricted Stock awards outstanding under the Company’s 2012 Plan as of December 31, 2022, and 2021 and changes during the years ended December 31, 2022 and 2021 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Grant ​ ​ ​ ​ Date ​ ​ Shares ​ Fair Value Nonvested shares at January 1, 2021 122,792 ​ $ 13.37 ​ Granted in 2021 106,122 ​ 22.96 ​ Vested in 2021 (84,653) ​ 17.47 ​ Forfeited in 2021 (22,159) ​ 16.14 ​ Nonvested shares at December 31, 2021 122,102 ​ $ 18.35 ​ Granted in 2022 78,505 ​ 31.83 ​ Vested in 2022 (75,492) ​ 21.93 ​ Forfeited in 2022 (4,056) ​ 19.20 ​ Nonvested shares at December 31, 2022 121,059 ​ $ 24.83 ​ ​ As of December 31, 2022, there was approximately $2.8 million of total unrecognized compensation cost related to nonvested share-based compensation arrangements. The unrecognized compensation cost is expected to be recognized over a weighted-average period of 2.3 years. ​ For the years ended December 31, 2022 and 2021, the Company recognized share-based compensation cost of approximately $1.9 million and $1.5 million, respectively, which is included in selling, general and administrative expenses.

Defined Contribution Plan

Defined Contribution Plan	12 Months Ended
	Dec. 31, 2022
Defined Contribution Plan
Defined Contribution Plan	10. Defined Contribution Plan ​ The Company maintains a defined contribution plan covering substantially all employees. Participating employees may make contributions to the plan, through payroll deductions. Matching contributions are made by the Company equal to 50% of the employee’s contribution to the extent such employee contribution did not exceed 6% of their compensation. During the years ended December 31, 2022 and 2021, the Company expensed approximately $0.3 million, respectively, related to this plan.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies
Commitments and Contingencies	11. Commitments and Contingencies ​ Employment Agreements ​ The Company has entered into employment agreements with four of its executive officers. If the Company terminates their respective employment for any reason other than for cause, these executive officers are entitled to severance payments ranging from six ​ Other ​ As of December 31, 2022, the Company has no standby letters of credit, has no standby repurchase obligations or other commercial commitments. The Company has a line of credit see Note 8 (Credit Facility). Other than employment agreements, other management compensation arrangements and related party transactions as disclosed in Note 12, the Company is not engaged in any other transactions with related parties.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions
Related Party Transactions	​ 12. Related Party Transactions ​ The Company made sales to a customer where a member of our Board of Directors was formerly an executive. This member of our Board of Directors employment with the customer ended during the second quarter of fiscal 2022 and prior to this member of Board of Directors employment ending, net sales to this customer totaled approximately $0.2 million, which was subsequently collected in full. During the year ended December 31, 2021, net sales to this customer totaled $0.3 million and amounts due from this customer as of December 31, 2021 totaled zero. ​ The Company made sales to a customer where a family member of one of our executive’s has a minority ownership position. During the year ended December 31, 2022 and 2021, net sales to this customer totaled $1.8 million and $0.4 million, respectively, and amounts due from this customer as of December 31, 2022 and 2021 totaled $0.1 million and $0.2 million, respectively. The Company also accrued referral fees totaling zero and $0.2 million to this customer during the year ended December 31, 2022 and 2021, respectively, and amounts owed to this customer for these referral fees as of December 31, 2022 and 2021 totaled zero and $0.1 million, respectively.

Industry, Segment and Geographi

Industry, Segment and Geographic Financial Information	12 Months Ended
	Dec. 31, 2022
Industry, Segment and Geographic Financial Information
Segment Information	13. Industry, Segment and Geographic Financial Information ​ The Company distributes software developed by others through resellers indirectly to customers worldwide. We also resell computer software and hardware developed by others and provide technical services directly to customers worldwide. ​ FASB ASC Topic 280, “Segment Reporting,” requires that public companies report profits and losses and certain other information on their “reportable operating segments” in their annual and interim financial statements. The internal organization used by the public company’s Chief Operating Decision Maker (CODM) to assess performance and allocate resources determines the basis for reportable operating segments. The Company’s CODM is the Chief Executive Officer. ​ The Company is organized into two reportable operating segments. The “Distribution” segment distributes technical software to corporate resellers, value added resellers (VARs), consultants and systems integrators worldwide. The “Solutions” segment is a cloud solutions provider and value-added reseller of software, hardware and services to customers worldwide. ​ As permitted by FASB ASC Topic 280, the Company has utilized the aggregation criteria in combining its operations in Canada, Europe and the United Kingdom with the domestic segments as the international operations provide the same products and services to similar clients and are considered together when the Company’s CODM decides how to allocate resources. Segment income is based on segment net sales less the respective segment’s cost of sales as well as segment direct costs (including such items as payroll costs and payroll related costs, such as profit sharing, incentive awards and insurance) and excluding general and administrative expenses not attributed to an individual segment business unit. The Company only identifies accounts receivable, vendor prepayments and inventory by segment as shown below as “Selected Assets” by segment; it does not allocate its other assets, including capital expenditures by segment. The following segment reporting information of the Company is provided: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, ​ 2022 2021 Net Sales: ​ ​ ​ ​ ​ ​ Distribution ​ $ 282,509 ​ $ 259,360 Solutions ​ 21,839 ​ 23,222 ​ ​ 304,348 ​ 282,582 Gross Profit: ​ ​ ​ ​ ​ ​ Distribution ​ $ 44,970 ​ $ 36,526 Solutions ​ 9,124 ​ 9,190 ​ ​ 54,094 ​ 45,716 Direct Costs: ​ ​ ​ ​ ​ ​ Distribution ​ $ 15,804 ​ $ 14,610 Solutions ​ 4,296 ​ 4,741 ​ ​ 20,100 ​ 19,351 Segment Income Before Taxes: (1) ​ ​ ​ ​ ​ ​ Distribution ​ $ 29,166 ​ $ 21,916 Solutions ​ 4,828 ​ 4,449 Segment Income Before Taxes ​ 33,994 ​ 26,365 ​ ​ ​ ​ ​ ​ ​ General and administrative ​ $ 14,044 ​ $ 12,785 Amortization and depreciation expense ​ ​ 2,054 ​ ​ 1,529 Acquisition related costs ​ ​ 582 ​ ​ — Interest, net ​ ​ 159 ​ ​ 359 Foreign currency transaction loss ​ (941) ​ (46) Income before taxes ​ $ 16,532 ​ $ 12,364 ​ (1) Excludes general corporate expenses including acquisition related costs, amortization and depreciation expense, interest, and foreign currency transaction (loss) gain. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ December 31, ​ December 31, ​ Selected Assets by Segment: ​ 2022 ​ 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ Distribution ​ $ 180,602 ​ $ 133,506 ​ Solutions ​ 21,420 ​ 18,895 ​ Segment Select Assets ​ 202,022 ​ 152,401 ​ Corporate Assets ​ 29,834 ​ 38,351 ​ Total Assets ​ $ 231,856 ​ $ 190,752 ​ ​ Geographic areas and net sales mix related to operations for the year ended December 31, 2022 and 2021 were as follows. Net sales is allocated to a geographic area based on the location of the sale, which is generally the customer’s country of domicile. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, 2022 ​ ​ ​ Distribution Solutions ​ Total ​ Geography ​ ​ ​ ​ ​ ​ ​ ​ USA ​ $ 225,380 ​ $ 11,137 ​ $ 236,517 ​ Europe and United Kingdom ​ 34,423 ​ 9,171 ​ 43,594 ​ Canada ​ 22,706 ​ 1,531 ​ 24,237 ​ Total net sales ​ $ 282,509 ​ $ 21,839 ​ $ 304,348 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Timing of Revenue Recognition ​ ​ ​ ​ ​ ​ ​ ​ Transferred at a point in time where the Company is principal (1) ​ $ 251,334 ​ $ 15,044 ​ $ 266,378 ​ Transferred at a point in time where the Company is agent (2) ​ 31,175 ​ 6,795 ​ 37,970 ​ Total net sales ​ $ 282,509 ​ $ 21,839 ​ $ 304,348 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, 2021 ​ ​ ​ Distribution Solutions ​ Total ​ Geography ​ ​ ​ ​ ​ ​ ​ ​ USA ​ $ 210,247 ​ $ 11,057 ​ $ 221,304 ​ Europe and United Kingdom ​ 26,055 ​ 10,652 ​ 36,707 ​ Canada ​ 23,058 ​ 1,513 ​ 24,571 ​ Total net sales ​ $ 259,360 ​ $ 23,222 ​ $ 282,582 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Timing of Revenue Recognition ​ ​ ​ ​ ​ ​ ​ ​ Transferred at a point in time where the Company is principal (1) ​ $ 234,322 ​ $ 16,360 ​ $ 250,682 ​ Transferred at a point in time where the Company is agent (2) ​ 25,038 ​ 6,862 ​ 31,900 ​ Total net sales ​ $ 259,360 ​ $ 23,222 ​ $ 282,582 ​ ​ (1) Includes net sales from third-party hardware and software products. ​ (2) Includes net sales from third-party maintenance, software support and services. ​ Geographic identifiable assets related to operations as of December 31, 2022 and 2021 were as follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, Identifiable Assets by Geographic Areas ​ 2022 2021 ​ USA ​ $ 137,877 ​ $ 122,445 ​ Canada ​ ​ 27,597 ​ ​ 24,923 ​ Europe and United Kingdom ​ ​ 66,382 ​ ​ 43,384 ​ Total ​ $ 231,856 ​ $ 190,752 ​ ​ For the year ended December 31, 2022, the Company had two customers that accounted for 21%, and 16%, respectively, of consolidated net sales and as of December 31, 2022, 16% and 18%, respectively, of total net accounts receivable. For the year ended December 31, 2022, the Company had two vendors that accounted for 17% and 9%, respectively, of our consolidated purchases. ​ For the year ended December 31, 2021, the Company had two customers that accounted for 18%, and 17%, respectively, of consolidated net sales and as of December 31, 2021, 18% and 22%, respectively, of total net accounts receivable. For the year ended December 31, 2021, the Company had two vendors that accounted for 20% and 10%, respectively of our consolidated purchases. ​ Our top five customers accounted for 52% and 51% of consolidated net sales for the years ended December 31, 2022 and 2021, respectively.

Schedule II--Valuation and Qual

Schedule II--Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2022
Schedule II--Valuation and Qualifying Accounts
Schedule II--Valuation and Qualifying Accounts	Climb Global Solutions, Inc. and Subsidiaries Schedule II--Valuation and Qualifying Accounts (Amounts in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Charged to ​ ​ ​ ​ ​ ​ Beginning ​ Cost and ​ ​ ​ ​ Ending Description ​ Balance ​ Expense ​ Deductions ​ Balance Year ended December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for doubtful accounts ​ $ 892 ​ $ 26 ​ $ 37 ​ $ 881 ​ Year ended December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for doubtful accounts ​ $ 881 ​ $ 19 ​ $ 58 ​ $ 842 ​ ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies
Principles of Consolidation and Operations	Principles of Consolidation and Operations ​ The consolidated financial statements include the accounts of Climb Global Solutions, Inc. and its wholly owned . All intercompany transactions and balances have been eliminated. ​
Business Combinations	Business Combinations ​ The Company accounts for business combinations using the acquisition method of accounting, which allocates the fair value of the purchase consideration to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values. The excess of the purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. When determining the fair values of assets acquired and liabilities assumed, management makes significant estimates and assumptions. The Company may utilize third-party valuation specialists to assist the Company in the allocation. Initial purchase price allocations are subject to revision within the measurement period, not to exceed one year from the date of acquisition. Acquisition-related expenses and transaction costs associated with business combinations are expensed as incurred.
Use of Estimates	Use of Estimates ​ The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) requires management to make extensive use of certain estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The significant areas of estimation include but are not limited to accounting for allowance for doubtful accounts, sales returns, allocation of revenue in multiple deliverable arrangements, principal vs. agent considerations, discount rates applicable to long term receivables, inventory obsolescence, income taxes, depreciation, amortization of intangible assets, contingencies and stock-based compensation. Actual results could differ from those estimates. ​
Net Income Per Common Share	Net Income Per Common Share ​ Our basic and diluted earnings per share are computed using the two-class method. The two-class method is an earnings allocation method that determines net income per share for each class of common stock and participating securities according to their participation rights in dividends and undistributed earnings or losses. Non-vested restricted stock awards that include non-forfeitable rights to dividends are considered participating securities. Per share amounts are computed by dividing net income available to common shareholders by the weighted average shares outstanding during each period. Diluted and basic earnings per share are the same because the restricted shares are the only potentially dilutive security. ​ A reconciliation of the numerators and denominators of the basic and diluted per share computations follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2022 2021 Numerator: ​ ​ ​ ​ ​ ​ Net income ​ $ 12,497 ​ $ 9,198 ​ ​ ​ ​ ​ ​ ​ Less distributed and undistributed income allocated to participating securities ​ ​ 317 ​ ​ 269 ​ ​ ​ ​ ​ ​ ​ Net income attributable to common shareholders ​ ​ 12,180 ​ ​ 8,929 ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ Weighted average common shares (Basic) ​ ​ 4,331 ​ 4,272 ​ ​ ​ ​ ​ Weighted average common shares including assumed conversions (Diluted) ​ ​ 4,331 ​ 4,272 ​ ​ ​ ​ ​ ​ ​ Basic net income per share ​ $ 2.81 ​ $ 2.09 Diluted net income per share ​ $ 2.81 ​ $ 2.09 ​
Cash Equivalents	Cash Equivalents ​ The Company considers all liquid short-term investments with maturities of 90 days or less when purchased to be cash equivalents. ​
Accounts Receivable	Accounts Receivable ​ Accounts receivable principally represents amounts collectible from our customers. The Company performs ongoing credit evaluations of its customers but generally does not require collateral to support any outstanding obligation. From time to time, we sell accounts receivable to a financial institution on a non-recourse basis for cash, less a discount. The Company has no significant retained interests or servicing liabilities related to the accounts receivable sold. Proceeds from the sale of receivables approximated their discounted book value and were included in operating cash flows on the Consolidated Statements of Cash Flows. ​
Allowances for Accounts Receivable	Allowances for Accounts Receivable ​ We provide an allowance for doubtful accounts related to accounts receivable for estimated losses resulting from the inability of our customers to make required payments. We take into consideration the overall quality and aging of the receivable portfolio along with specifically identified customer risks. If actual customer payment performance were to deteriorate to an extent not expected, additional allowances may be required. At the time of sale, we also record an estimate for sales returns based on historical experience, which is included in accounts payable and accrued expenses on the Consolidated Balance Sheets. If actual sales returns are greater than estimated by management, an additional return allowance may be required as an offset to net sales. ​
Foreign Currency Translation	Foreign Currency Translation ​ Assets and liabilities of the Company’s foreign subsidiaries have been translated using the end of the reporting period exchange rates, and related revenues and expenses have been translated at average rates of exchange in effect during the period. Cumulative translation adjustments have been classified within accumulated other comprehensive loss, which is a separate component of stockholders’ equity in accordance FASB ASC Topic No. 220, “Comprehensive Income”. Foreign currency transaction gains and losses are recorded as income or expenses as amounts are settled. ​ For foreign currency remeasurement from each local currency into the appropriate functional currency, monetary assets and liabilities are remeasured to functional currencies using current exchange rates in effect at the balance sheet date. Gains or losses from these remeasurements have been included in the Company's Consolidated Statements of Earnings. Non-monetary assets and liabilities are recorded at historical exchange rates. ​
Concentration of Credit Risk	Concentration of Credit Risk ​ Financial instruments that potentially subject the Company to concentrations in credit risk consist of cash and cash equivalents. ​ The Company’s cash and cash equivalents, at times, may exceed federally insured limits. The Company’s cash and cash equivalents are deposited primarily in banking institutions with global operations. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents. ​
Financial Instruments	Financial Instruments ​ The carrying amounts of financial instruments, including cash and cash equivalents, accounts receivable and accounts payable approximated fair value as of December 31, 2022 and 2021, because of the relative short maturity of these instruments. The Company’s accounts receivable-long-term is discounted to its present value at prevailing market rates at the time of sale which, approximates fair value as of December 31, 2022 and 2021. ​
Inventory	Inventory ​ Inventory, consisting primarily of finished products held for resale, is valued based on the first-in-first-out method of accounting and is stated at the lower of cost or net realizable value. ​
Vendor Prepayments and Advances	Vendor Prepayments and Advances ​ Vendor prepayments represents advance payments made to vendors to be applied against future purchases. Any amounts not expected to be utilized to apply against purchases within one year are reclassified to other long-term assets. ​
Equipment and Leasehold Improvements	Equipment and Leasehold Improvements ​ Equipment and leasehold improvements are stated at cost or fair value, if purchased as part of a business combination. Equipment depreciation is calculated using the straight-line method over three
Software Development Costs	Software Development Costs ​ four million, respectively, which are included in "Equipment and leasehold improvements" in the Company's Consolidated Balance Sheets. As of December 31, 2022, this includes ​
Accounts Receivable-Long-Term	Accounts Receivable-Long-Term ​ Accounts receivable-long-term result from product sales with extended payment terms that are discounted to their present values at the prevailing market rates at the time of sale. In subsequent periods, the accounts receivable is increased to the amounts due and payable by the customers through the accretion of interest income on the unpaid accounts receivable due in future years. The amounts under these long-term accounts receivable due within one year are reclassified to the current portion of accounts receivable. ​
Goodwill & Intangible Assets	Goodwill ​ ​ In a qualitative assessment, we assess qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount, including goodwill. If, after assessing the totality of events or circumstances, we determine that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then the quantitative goodwill impairment test is unnecessary. ​ If, after assessing the totality of events or circumstances, we determine that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then we perform the quantitative goodwill impairment test. We may also elect the unconditional option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to performing the quantitative goodwill impairment test. ​ In the quantitative impairment test, we compare the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired. Conversely, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. ​ Determining the fair value of a reporting unit is judgmental in nature and requires the use of significant estimates and assumptions, including net sales growth rates, gross profit margins, operating margins, discount rates and future market conditions, among others. Any changes in the judgments, estimates or assumptions used could produce significantly different results. ​ Intangible Assets ​ Intangible assets with determinable lives are amortized on a straight-line basis over their respective estimated useful lives, which is determined based on their expected period of benefit. Intangible assets are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. If the carrying amount of an asset exceeds its estimated future undiscounted cash flows, an impairment loss is recorded for the excess of the asset's carrying amount over its fair value. In addition, each quarter, the Company evaluates whether events and circumstances warrant a revision to the remaining estimated useful life of each of these intangible assets. If the Company were to determine that a change to the remaining estimated useful life of an intangible asset was necessary, then the remaining carrying amount of the intangible asset would be amortized prospectively over that revised remaining useful life. ​
Comprehensive Income	Comprehensive Income ​ Comprehensive income consists of net income for the year and the impact of unrealized foreign currency translation adjustments. The foreign currency translation adjustments are not currently adjusted for income taxes as they relate to permanent investments in international subsidiaries. ​
Revenue Recognition	Revenue Recognition The Company’s revenues primarily result from the sale of various technology products and services, including third-party products, third-party software and third-party maintenance, software support and services. The Company recognizes revenue as control of the third-party products and third-party software is transferred to customers, which generally happens at the point of shipment or fulfilment and at the point that our customers and vendors accept the terms and conditions of the arrangement for third-party maintenance, software support and services. The Company has contracts with certain customers where the Company’s performance obligation is to arrange for the products or services to be provided by another party. In these arrangements, as the Company assumes an agency relationship in the transaction, revenue is recognized in the amount of the net fee associated with serving as an agent. These arrangements primarily relate to third party maintenance, cloud services and certain security software whose intended functionality is dependent on third party maintenance. The Company allows its customers to return product for exchange or credit subject to certain limitations. A liability is recorded at the time of sale for estimated product returns based upon historical experience and an asset is recognized for the amount expected to be recorded upon product return. The Company also provides rebates and other discounts to certain customers which are considered variable consideration. A provision for customer rebates and other discounts is recorded as a reduction of revenue at the time of sale based on an evaluation of the contract terms and historical experience. The Company considers shipping and handling activities as costs to fulfill the sales of products. Shipping revenue is included in net sales when control of the product is transferred to the customer, and the related shipping and handling costs are included in cost of sales. Taxes imposed by governmental authorities on the Company’s revenue producing activities with customers, such as sales taxes and value added taxes, are excluded from net sales. The Company disaggregates its operating revenue by segment, geography and timing of revenue recognition, which the Company believes provides a meaningful depiction of the nature of its revenue. For additional information, see Note 13 (Industry, Segment and Geographic Information). ​ Hardware and software products sold by the Company are generally delivered via shipment from the Company’s facilities, drop shipment directly from the vendor, or by electronic delivery of keys for software products. The majority of the Company’s business involves shipments directly from its vendors to its customers, in these transactions, the Company is generally responsible for negotiating price both with the vendor and customer, payment to the vendor, establishing payment terms with the customer, product returns, and has risk of loss if the customer does not make payment. As the principal with the customer, the Company recognizes revenue upon receiving notification from the vendor that the product was shipped. Control of software products is deemed to have passed to the customer when they acquire the right to use or copy the software under license as substantially all product functionality is available to the customer at the time of sale. ​ The Company performs an analysis of the number of days of sales in-transit to customers at the end of each reporting period based on an analysis of commercial delivery terms that include drop-shipment arrangements. This analysis is the basis upon which the Company estimates the amount of net sales in-transit at the end of the period and adjusts revenue and the related costs to reflect only what has been delivered to the customer. Changes in delivery patterns may result in a different number of business days estimated to make this adjustment. The Company also performs a weighted average analysis of the estimated number of days between order fulfillment and beginning of the renewal term for term licenses recorded on a gross basis, and a deferral estimate is recorded for term license renewals fulfilled prior to commencement date. Generally, software products are sold with accompanying third-party delivered software assurance, which is a product that allows customers to upgrade, at no additional cost, to the latest technology if new capabilities are introduced during the period that the software assurance is in effect. The Company evaluates whether the software assurance is a separate performance obligation by assessing if the third-party delivered software assurance is critical or essential to the core functionality of the software itself. This involves considering if the software provides its original intended functionality to the customer without the updates, if the customer would ascribe a higher value to the upgrades versus the up-front deliverable, if the customer would expect frequent intelligence updates to the software (such as updates that maintain the original functionality), and if the customer chooses to not delay or always install upgrades. If the Company determines that the accompanying third-party delivered software assurance is critical or essential to the core functionality of the software license, the software license and the accompanying third-party delivered software assurance are recognized as a single performance obligation. The value of the product is primarily the accompanying support delivered by a third party and therefore the Company is acting as an agent in these transactions and recognizes them on a net basis at the point the associated software license is delivered to the customer. The Company sells cloud computing solutions that utilize third-party vendors to enable customers to access data center functionality in a cloud-based solution, including storage, computing and networking and access to software in the cloud that enhances office productivity, provides security or assists in collaboration. The Company recognizes revenue for cloud computing solutions for arrangements with one-time invoicing to the customer at the time of invoice on a net basis as the Company is acting as an agent in the transaction. For monthly subscription-based arrangements, the Company is acting as an agent in the transaction and recognizes revenue as it invoices the customer for its monthly usage on a net basis. For software licenses where the accompanying third-party delivered software assurance is not critical or essential to the core functionality, the software assurance is recognized as a separate performance obligation, with the associated revenue recognized on a net basis at the point the related software license is delivered to the customer. The Company also sells some of its products and services as part of bundled contract arrangements containing multiple deliverables, which may include a combination of products and services. For each deliverable that represents a distinct performance obligation, total arrangement consideration is allocated based upon the standalone selling prices (“SSP”) of each performance obligation. SSP is determined based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through established standard prices, we use judgement and estimate the standalone selling price considering available information such as market pricing and pricing related to similar products. ​
Freight	Freight The Company records freight billed to its customers as net sales and the related freight costs as cost of sales when the underlying product revenue is recognized. For freight not billed to its customers, the Company records the freight costs as cost of sales. The Company’s typical shipping terms result in shipping being performed before the customer obtains control of the product. The Company considers shipping to be a fulfillment activity and not a separate performance obligation. ​
Commissions	Commissions ​ The Company pays commissions and related payroll taxes to sales personnel when customers are invoiced. These costs are recorded as selling general and administrative expenses in the period earned as all our performance obligations are complete within a short window of processing the order.
Stock-Based Compensation	Stock-Based Compensation ​ The Company has stockholder-approved stock incentive plans for employees and directors. Stock-based compensation is recognized based on the grant date fair value and is recognized as expense on a straight-line basis over the requisite service period.
Operating Segments	Operating Segments ​ assessing performance. The Company's operations are classified into two reportable business segments: Distribution and Solutions. For additional information, see Note 13 (Industry, Segment and Geographic Information). ​
Treasury Stock	Treasury Stock ​ Treasury stock is accounted for at cost. Shares repurchased by the Company are held in treasury for general corporate purposes, including issuances under equity incentive plans. The reissuance of shares from treasury stock is based on the weighted average purchase price of the shares.
Interest, net	Interest, net ​
Income Taxes	Income Taxes ​ The Company utilizes the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities and are measured using enacted tax rates and laws that will be in effect when the differences are expected to reverse. This method also requires a valuation allowance against the net deferred tax asset if, based on the weighted available evidence, it is more likely than not that some or all the deferred tax assets will not be realized. The Company’s policy is to recognize interest and penalties related to uncertain tax positions in income tax expense when assessed. The Company accounts for uncertainties in accordance with FASB ASC 740 “Income Taxes”. This standard clarified the accounting for uncertainties in income taxes. The standard prescribes criteria for recognition and measurement of tax positions. It also provides guidance on derecognition, classification, interest and penalties, and disclosures related to income taxes associated with uncertain tax positions. The Company classifies all deferred tax asset or liabilities as non-current on the balance sheet. ​
Foreign Exchange	Foreign Exchange ​ ​
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements ​ In June 2016, the FASB issued Accounting Standards Update No. 2016-13, “Financial Instruments - Credit Losses (Topic 326)” Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic Effective January 1, 2023, the company will adopt the update using a modified retrospective approach with a cumulative-effect adjustment to retained earnings. The new credit loss standard is not expected to have a material effect on our financial position, results of operations or cash flows.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies
Schedule of reconciliation of the numerators and denominators of the basic and diluted per share computations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2022 2021 Numerator: ​ ​ ​ ​ ​ ​ Net income ​ $ 12,497 ​ $ 9,198 ​ ​ ​ ​ ​ ​ ​ Less distributed and undistributed income allocated to participating securities ​ ​ 317 ​ ​ 269 ​ ​ ​ ​ ​ ​ ​ Net income attributable to common shareholders ​ ​ 12,180 ​ ​ 8,929 ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ Weighted average common shares (Basic) ​ ​ 4,331 ​ 4,272 ​ ​ ​ ​ ​ Weighted average common shares including assumed conversions (Diluted) ​ ​ 4,331 ​ 4,272 ​ ​ ​ ​ ​ ​ ​ Basic net income per share ​ $ 2.81 ​ $ 2.09 Diluted net income per share ​ $ 2.81 ​ $ 2.09 ​

Acquisition (Tables)

Acquisition (Tables) - Interwork Group, Inc.	12 Months Ended
	Dec. 31, 2022
Business Acquisition [Line Items]
Summary of purchase price allocations	​ ​ ​ ​ ​ (in thousands) ​ ​ ​ Cash ​ $ 3,325 Trade accounts receivable ​ ​ 1,852 Other current assets ​ ​ 367 Vendor relationships (10.4-year weighted average useful life) ​ ​ 11,687 Goodwill ​ ​ 3,244 Accounts payable and other current liabilities ​ ​ (3,977) Deferred income tax liabilities ​ ​ (2,892) Net assets ​ $ 13,606
Summary of supplementary information related to acquisition	​ ​ ​ ​ ​ (in thousands) ​ ​ ​ Supplementary information: ​ ​ ​ Cash paid to sellers ​ $ 11,836 Contingent earn-out ​ ​ 1,771 Total purchase consideration ​ $ 13,607 ​ ​ ​ ​ Cash paid to sellers ​ ​ 11,836 Cash acquired in acquisition ​ ​ (3,325) Net cash paid for acquisition ​ $ 8,511 ​

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Other Intangible Assets
Summary of goodwill	​ ​ ​ ​ ​ Balance at January 1, 2021 ​ $ 16,816 Translation adjustments ​ ​ 372 Balance December 31, 2021 ​ $ 17,188 Goodwill acquired ​ ​ 3,244 Translation adjustments ​ ​ (1,469) Balance at December 31, 2022 ​ $ 18,963
Summary of other intangibles, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ Gross Carrying Amount ​ Accumulated Amortization ​ Net Carrying Amount Customer and vendor relationships ​ $ 21,457 ​ ​ 2,165 ​ ​ 19,292 Trade name ​ ​ 468 ​ ​ 67 ​ ​ 401 Total ​ $ 21,925 ​ $ 2,232 ​ $ 19,693 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ ​ Gross Carrying Amount ​ Accumulated Amortization ​ Net Carrying Amount Customer and vendor relationships ​ $ 10,550 ​ $ 1,079 ​ $ 9,471 Trade name ​ ​ 519 ​ ​ 40 ​ ​ 479 Total ​ $ 11,069 ​ $ 1,119 ​ $ 9,950
Schedule of estimated future amortization expense of other intangible assets	​ ​ ​ ​ ​ 2023 ​ 1,875 2024 ​ 1,875 2025 ​ 1,875 2026 ​ 1,875 2027 ​ ​ 1,875 Thereafter ​ 10,318 Total ​ $ 19,693

Right-of-use Asset and Lease _2

Right-of-use Asset and Lease Liability (Tables)	12 Months Ended
	Dec. 31, 2022
Right-of-use Asset and Lease Liability
Schedule of information relating to right-of-use assets and related lease liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, ​ ​ ​ 2022 ​ ​ 2021 Cash paid for operating lease liabilities ​ $ 647 ​ $ 598 Right-of-use assets obtained in exchange for new operating lease obligations ​ $ 63 ​ $ 163 Weighted-average remaining lease term ​ ​ 3.9 years ​ ​ 5.1 years Weighted-average discount rate ​ ​ 3.5% ​ ​ 3.5% ​
Schedule of maturities of lease liabilities	Maturities of lease liabilities as of December 31, 2022 were as follows: ​ ​ ​ ​ ​ 2023 ​ 624 2024 ​ 540 2025 ​ 548 2026 ​ 546 2027 ​ ​ 125 ​ ​ ​ 2,383 Less: imputed interest ​ ​ (566) Total lease liabilities ​ $ 1,817 ​ ​ ​ ​ Lease liabilities, current portion ​ ​ 521 Lease liabilities, net of current portion ​ ​ 1,296 Total lease liabilities ​ $ 1,817

Balance Sheet Detail (Tables)

Balance Sheet Detail (Tables)	12 Months Ended
	Dec. 31, 2022
Balance Sheet Detail
Schedule of equipment and leasehold improvements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2022 2021 Equipment ​ $ 2,720 ​ $ 2,627 Capitalized software ​ ​ 2,997 ​ ​ 816 Leasehold improvements ​ 1,848 ​ 1,762 ​ ​ 7,565 ​ 5,205 Less accumulated depreciation and amortization ​ (4,050) ​ (3,273) ​ ​ $ 3,515 ​ $ 1,932
Schedule of accounts receivable - long term, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ ​ ​ ​ 2022 2021 ​ ​ Total amount due from customers ​ $ 5,213 ​ $ 484 ​ ​ ​ Less: unamortized discount ​ (188) ​ (8) ​ ​ ​ Less: current portion included in accounts receivable ​ (1,911) ​ (398) ​ ​ ​ ​ ​ $ 3,114 ​ $ 78 ​ ​ ​ ​
Schedule of accounts payable and accrued expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ ​ 2022 2021 Trade accounts payable ​ $ 151,180 ​ $ 125,908 ​ Accrued expenses ​ 9,470 ​ 8,363 ​ ​ ​ $ 160,650 ​ $ 134,271 ​ ​
Schedule of accumulated other comprehensive loss	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2022 2021 ​ Foreign currency translation adjustments ​ $ (2,618) ​ $ 492 ​ ​ ​ $ (2,618) ​ $ 492 ​

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Taxes
Schedule of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2022 2021 Deferred tax assets: ​ ​ ​ ​ ​ ​ ​ Accruals and reserves ​ $ 631 ​ $ 501 ​ Deferred rent credit ​ ​ 146 ​ ​ 163 ​ Depreciation and amortization ​ ​ 38 ​ ​ 24 ​ Total deferred tax assets ​ ​ 815 ​ ​ 688 ​ Deferred tax liabilities: ​ ​ ​ ​ ​ ​ ​ Accruals and reserves ​ ​ — ​ ​ (67) ​ Depreciation and amortization ​ ​ (4,604) ​ (2,212) ​ Total deferred tax liabilities ​ ​ (4,604) ​ ​ (2,279) ​ Net deferred tax liabilities ​ $ (3,789) ​ $ (1,591) ​ ​
Schedule of provision (benefit) for income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2022 2021 Current: ​ ​ ​ ​ ​ ​ ​ Federal ​ $ 2,694 ​ $ 1,692 ​ State ​ 622 ​ 572 ​ Foreign ​ 1,254 ​ 674 ​ ​ ​ 4,570 ​ 2,938 ​ Deferred: ​ ​ ​ ​ ​ ​ ​ Federal ​ (124) ​ (45) ​ State ​ ​ (30) ​ ​ (12) ​ Foreign ​ (381) ​ 285 ​ ​ ​ (535) ​ 228 ​ ​ ​ $ 4,035 ​ $ 3,166 ​ Effective Tax Rate ​ 24.4 % 25.6 % ​
Schedule of difference between total tax expense and the amount computed by applying the U.S. statutory federal income tax rate to income before income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2022 2021 Statutory rate applied to pretax income ​ $ 3,472 ​ $ 2,596 ​ State income taxes, net of federal income tax benefit ​ 468 ​ 442 ​ Other permanent items ​ ​ 156 ​ ​ 19 ​ Foreign income taxes over U.S. statutory rate ​ 137 ​ (18) ​ Other items ​ 11 ​ (36) ​ Adjustment for foreign rate change ​ ​ — ​ ​ 353 ​ Dividends ​ ​ (9) ​ ​ (17) ​ GILTI, net of foreign tax credits ​ ​ (50) ​ ​ (38) ​ Stock compensation ​ ​ (150) ​ ​ (135) ​ Income tax expense ​ $ 4,035 ​ $ 3,166 ​ ​
Schedule of components of income before income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2022 2021 United States ​ $ 12,968 ​ $ 9,355 ​ Foreign ​ 3,564 ​ 3,009 ​ ​ ​ $ 16,532 ​ $ 12,364 ​ ​
Schedule of activity related to unrecognized tax benefits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 Balance as of January 1 ​ ​ ​ ​ $ 49 Additions related to prior period tax positions ​ ​ ​ ​ ​ - Reductions related to settlements with tax authorities ​ ​ ​ ​ ​ (49) Balance as of December 31 ​ ​ ​ ​ $ - ​

Credit Facility (Tables)

Credit Facility (Tables)	12 Months Ended
	Dec. 31, 2022
Credit Facility.
Schedule of future principal payments under the term loan	​ ​ ​ ​ ​ Year ended December 31, ​ ​ ​ 2023 ​ ​ 520 2024 ​ ​ 540 2025 ​ ​ 560 2026 ​ ​ 192 Total ​ $ 1,812

Stockholders' Equity and Stoc_2

Stockholders' Equity and Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity and Stock Based Compensation
Summary of nonvested shares of Restricted Stock awards outstanding and the changes during the period	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Grant ​ ​ ​ ​ Date ​ ​ Shares ​ Fair Value Nonvested shares at January 1, 2021 122,792 ​ $ 13.37 ​ Granted in 2021 106,122 ​ 22.96 ​ Vested in 2021 (84,653) ​ 17.47 ​ Forfeited in 2021 (22,159) ​ 16.14 ​ Nonvested shares at December 31, 2021 122,102 ​ $ 18.35 ​ Granted in 2022 78,505 ​ 31.83 ​ Vested in 2022 (75,492) ​ 21.93 ​ Forfeited in 2022 (4,056) ​ 19.20 ​ Nonvested shares at December 31, 2022 121,059 ​ $ 24.83 ​ ​

Industry, Segment and Geograp_2

Industry, Segment and Geographic Financial Information (Tables)	12 Months Ended
	Dec. 31, 2022
Industry, Segment and Geographic Financial Information
Schedule of segment reporting information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, ​ 2022 2021 Net Sales: ​ ​ ​ ​ ​ ​ Distribution ​ $ 282,509 ​ $ 259,360 Solutions ​ 21,839 ​ 23,222 ​ ​ 304,348 ​ 282,582 Gross Profit: ​ ​ ​ ​ ​ ​ Distribution ​ $ 44,970 ​ $ 36,526 Solutions ​ 9,124 ​ 9,190 ​ ​ 54,094 ​ 45,716 Direct Costs: ​ ​ ​ ​ ​ ​ Distribution ​ $ 15,804 ​ $ 14,610 Solutions ​ 4,296 ​ 4,741 ​ ​ 20,100 ​ 19,351 Segment Income Before Taxes: (1) ​ ​ ​ ​ ​ ​ Distribution ​ $ 29,166 ​ $ 21,916 Solutions ​ 4,828 ​ 4,449 Segment Income Before Taxes ​ 33,994 ​ 26,365 ​ ​ ​ ​ ​ ​ ​ General and administrative ​ $ 14,044 ​ $ 12,785 Amortization and depreciation expense ​ ​ 2,054 ​ ​ 1,529 Acquisition related costs ​ ​ 582 ​ ​ — Interest, net ​ ​ 159 ​ ​ 359 Foreign currency transaction loss ​ (941) ​ (46) Income before taxes ​ $ 16,532 ​ $ 12,364 ​ (1) Excludes general corporate expenses including acquisition related costs, amortization and depreciation expense, interest, and foreign currency transaction (loss) gain. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ December 31, ​ December 31, ​ Selected Assets by Segment: ​ 2022 ​ 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ Distribution ​ $ 180,602 ​ $ 133,506 ​ Solutions ​ 21,420 ​ 18,895 ​ Segment Select Assets ​ 202,022 ​ 152,401 ​ Corporate Assets ​ 29,834 ​ 38,351 ​ Total Assets ​ $ 231,856 ​ $ 190,752 ​ ​
Schedule of net sales to identifiable assets by geographic areas	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, 2022 ​ ​ ​ Distribution Solutions ​ Total ​ Geography ​ ​ ​ ​ ​ ​ ​ ​ USA ​ $ 225,380 ​ $ 11,137 ​ $ 236,517 ​ Europe and United Kingdom ​ 34,423 ​ 9,171 ​ 43,594 ​ Canada ​ 22,706 ​ 1,531 ​ 24,237 ​ Total net sales ​ $ 282,509 ​ $ 21,839 ​ $ 304,348 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Timing of Revenue Recognition ​ ​ ​ ​ ​ ​ ​ ​ Transferred at a point in time where the Company is principal (1) ​ $ 251,334 ​ $ 15,044 ​ $ 266,378 ​ Transferred at a point in time where the Company is agent (2) ​ 31,175 ​ 6,795 ​ 37,970 ​ Total net sales ​ $ 282,509 ​ $ 21,839 ​ $ 304,348 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, 2021 ​ ​ ​ Distribution Solutions ​ Total ​ Geography ​ ​ ​ ​ ​ ​ ​ ​ USA ​ $ 210,247 ​ $ 11,057 ​ $ 221,304 ​ Europe and United Kingdom ​ 26,055 ​ 10,652 ​ 36,707 ​ Canada ​ 23,058 ​ 1,513 ​ 24,571 ​ Total net sales ​ $ 259,360 ​ $ 23,222 ​ $ 282,582 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Timing of Revenue Recognition ​ ​ ​ ​ ​ ​ ​ ​ Transferred at a point in time where the Company is principal (1) ​ $ 234,322 ​ $ 16,360 ​ $ 250,682 ​ Transferred at a point in time where the Company is agent (2) ​ 25,038 ​ 6,862 ​ 31,900 ​ Total net sales ​ $ 259,360 ​ $ 23,222 ​ $ 282,582 ​ ​ (1) Includes net sales from third-party hardware and software products. ​ (2) Includes net sales from third-party maintenance, software support and services. ​
Summary of identifiable assets by geographic area	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, Identifiable Assets by Geographic Areas ​ 2022 2021 ​ USA ​ $ 137,877 ​ $ 122,445 ​ Canada ​ ​ 27,597 ​ ​ 24,923 ​ Europe and United Kingdom ​ ​ 66,382 ​ ​ 43,384 ​ Total ​ $ 231,856 ​ $ 190,752 ​ ​

Description of Business (Detail

Description of Business (Details)	12 Months Ended
	Dec. 31, 2022 segment
Description of Business
Number of reportable operating segments	2

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net income	$ 12,497	$ 9,198
Less distributed and undistributed income allocated to participating securities	317	269
Net income attributable to common shareholders	$ 12,180	$ 8,929
Denominator:
Weighted average common shares (Basic)	4,331	4,272
Weighted average common shares including assumed conversions (Diluted)	4,331	4,272
Basic net income per share (in dollars per share)	$ 2.81	$ 2.09
Diluted net income per share (in dollars per share)	$ 2.81	$ 2.09

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Equipment and Revenue Recognition (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)
Equipment and leasehold improvements
Number of reportable operating segments | segment	2
Equipment | Minimum
Equipment and leasehold improvements
Useful lives of assets	3 years
Equipment | Maximum
Equipment and leasehold improvements
Useful lives of assets	5 years
Capitalized software
Equipment and leasehold improvements
Software development costs, gross	$ 2.4	$ 0.7
Capitalized software | Minimum
Equipment and leasehold improvements
Amortization period	4 years
Capitalized software | Maximum
Equipment and leasehold improvements
Amortization period	7 years
Capitalized software for internal use
Equipment and leasehold improvements
Software development costs, gross	$ 2.3	$ 0

Acquisition (Details)

Acquisition (Details) $ in Thousands, £ in Millions			12 Months Ended
	Aug. 18, 2022 USD ($)	Aug. 18, 2022 GBP (£)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Acquisition of Spinnakar Limited
Acquisition related costs			$ 582	$ 0
Spinnakar Limited
Acquisition of Spinnakar Limited
Aggregate purchase price	$ 11,800	£ 9.8
Revenue			6,000
Net income			400
Estimates and assumptions measurement period	1 year	1 year
Vendor relationships	$ 11,687
Fair value of earn-out liability	1,800
Acquisition related costs			$ 600
Spinnakar Limited | Vendor relationships
Acquisition of Spinnakar Limited
Vendor relationships	$ 11,700
Useful life	10 years 4 months 24 days	10 years 4 months 24 days

Acquisition - Cash Consideratio

Acquisition - Cash Consideration (Details) - USD ($) $ in Thousands	Aug. 18, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Goodwill		$ 18,963	$ 17,188	$ 16,816
Spinnakar Limited
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Cash	$ 3,325
Trade accounts receivable	1,852
Other current assets	367
Intangible assets	11,687
Goodwill	3,244
Accounts payable and other current liabilities	(3,977)
Deferred income tax liabilities	(2,892)
Net assets	13,606
Spinnakar Limited | Vendor relationships
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Intangible assets	$ 11,700
Useful life	10 years 4 months 24 days

Acquisition - Supplementary inf

Acquisition - Supplementary information (Details) - Spinnakar Limited $ in Thousands	Aug. 18, 2022 USD ($)
Business Acquisition [Line Items]
Cash paid to sellers	$ 11,836
Contingent earn-out	1,771
Total purchase consideration	13,607
Cash acquired in acquisition	(3,325)
Net cash paid for acquisition	$ 8,511

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Beginning Balance	$ 17,188	$ 16,816
Goodwill acquired	3,244
Translation adjustments	(1,469)	372
Ending Balance	$ 18,963	$ 17,188

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Other intangibles, net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 21,925	$ 11,069
Accumulated Amortization	2,232	1,119
Total	19,693	9,950
Amortization expense	1,200	900
Customer and vendor relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	21,457	10,550
Accumulated Amortization	2,165	1,079
Total	19,292	9,471
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	468	519
Accumulated Amortization	67	40
Total	$ 401	$ 479
Amortization period	15 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Amortization period	13 years
Vendor relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Amortization period	8 years
Vendor relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Amortization period	15 years

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Future amortization expense (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	$ 1,875
2024	1,875
2025	1,875
2026	1,875
2027	1,875
Thereafter	10,318
Total	$ 19,693	$ 9,950

Right-of-use Asset and Lease _3

Right-of-use Asset and Lease Liability (Details)	Dec. 31, 2022
Minimum
Right-of-use Asset and Lease Liability
Lease term	3 years
Maximum
Right-of-use Asset and Lease Liability
Lease term	11 years

Right-of-use Asset and Lease _4

Right-of-use Asset and Lease Liability - Operating lease information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Right-of-use Asset and Lease Liability
Cash paid for operating lease liabilities	$ 647	$ 598
Right-of-use assets obtained in exchange for new operating lease obligations	$ 63	$ 163
Weighted-average remaining lease term	3 years 10 months 24 days	5 years 1 month 6 days
Weighted-average discount rate	3.50%	3.50%

Right-of-use Asset and Lease _5

Right-of-use Asset and Lease Liability - Maturities of lease liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Maturities of lease liabilities
2023	$ 624
2024	540
2025	548
2026	546
2027	125
Total	2,383
Less: imputed interest	(566)
Total lease liabilities	1,817
Lease liability, current portion	521	$ 475
Lease liability, net of current portion	$ 1,296	$ 1,810

Balance Sheet Detail (Details)

Balance Sheet Detail (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Equipment and leasehold improvements
Equipment and leasehold improvements, gross	$ 7,565	$ 5,205
Less accumulated depreciation and amortization	(4,050)	(3,273)
Equipment and leasehold improvements, net	3,515	1,932
Depreciation	400	500
Equipment and capitalized software
Equipment and leasehold improvements
Equipment and leasehold improvements, gross	2,720	2,627
Capitalized software
Equipment and leasehold improvements
Equipment and leasehold improvements, gross	2,997	816
Amortization	400	100
Leasehold improvements
Equipment and leasehold improvements
Equipment and leasehold improvements, gross	$ 1,848	$ 1,762

Balance Sheet Detail - Accounts

Balance Sheet Detail - Accounts receivable - long term, net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accounts receivable - long term
Total amount due from customer	$ 5,213	$ 484
Less unamortized discount	(188)	(8)
Less current portion included in accounts receivable	(1,911)	(398)
Total of accounts receivable, long term, net	$ 3,114	$ 78

Balance Sheet Detail - Accoun_2

Balance Sheet Detail - Accounts payable and accrued expenses and AOCI (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accounts payable and accrued expenses
Trade accounts payable	$ 151,180	$ 125,908
Accrued expenses	9,470	8,363
Accounts payable and accrued expenses	160,650	134,271
Accumulated other comprehensive loss	(2,868)	(250)
Foreign currency translation adjustments
Accounts payable and accrued expenses
Accumulated other comprehensive loss	$ (2,618)	$ 492

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets - (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Accruals and reserves	$ 631	$ 501
Deferred rent credit	146	163
Depreciation and amortization	38	24
Total deferred tax assets	815	688
Deferred tax liabilities:
Accruals and reserves		(67)
Depreciation and amortization	(4,604)	(2,212)
Total deferred tax liabilities	(4,604)	(2,279)
Net deferred tax liabilities	$ (3,789)	$ (1,591)

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes - (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 2,694	$ 1,692
State	622	572
Foreign	1,254	674
Total current income tax	4,570	2,938
Deferred:
Federal	(124)	(45)
State	(30)	(12)
Foreign	(381)	285
Total deferred income tax	(535)	228
Income tax expense	$ 4,035	$ 3,166
Effective tax rate (as a percent)	24.40%	25.60%

Income Taxes - Reconciliations

Income Taxes - Reconciliations and Components of Income - (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of difference between total tax expense and the amount computed by applying the U.S. statutory federal income tax rate to income before income taxes
Statutory rate applied to pretax income	$ 3,472	$ 2,596
State income taxes, net of federal income tax benefit	468	442
Other permanent items	156	19
Foreign income taxes over U.S. statutory rate	137	(18)
Other items	11	(36)
Adjustment for foreign rate change		353
Dividends	(9)	(17)
GILTI, net of foreign tax credits	(50)	(38)
Stock compensation	(150)	(135)
Income tax expense	4,035	3,166
Components of income before income taxes
United States	12,968	9,355
Foreign	3,564	3,009
Income before provision for income taxes	$ 16,532	$ 12,364

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits - (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of unrecognized tax benefits
Balance		$ 49
Reductions related to settlements with tax authorities		(49)
Balance	$ 0
Interest and penalties related to uncertain tax positions	0	$ 0
Withholding taxes related to repatriation	0
Canada
Reconciliation of unrecognized tax benefits
Undistributed earnings	8,000
United Kingdom
Reconciliation of unrecognized tax benefits
Undistributed earnings	$ 1,500

Credit Facility (Details)

Credit Facility (Details) £ in Millions			12 Months Ended
	Apr. 08, 2022 USD ($)	Apr. 13, 2021 GBP (£)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Nov. 15, 2017 USD ($)
Credit Facility
Interest rate	3.73%
Interest rate margin (as a percent)			0.75%
Debt Instrument, Face Amount	$ 2,100,000
Debt Instrument, Term	48 months
Long-term Debt			$ 1,800,000	$ 0
Uncommitted Credit Facility
Credit Facility
Maximum borrowing capacity | £		£ 8
Interest rate margin (as a percent)		1.85%
Borrowings outstanding			0	0
Credit Facility
Credit Facility
Maximum borrowing capacity					$ 20,000,000
Borrowings outstanding			0	0
Interest expense			$ 100,000	$ 100,000
Credit Facility | Index
Credit Facility
Interest rate margin (as a percent)			1.75%

Credit Facility - Future Princi

Credit Facility - Future Principal Payments Under Term Loan (Details) - Term Loans $ in Thousands	Dec. 31, 2022 USD ($)
Principal Payments Under The Term Loan
2023	$ 520
2024	540
2025	560
2027	192
Total	$ 1,812

Stockholders' Equity and Stoc_3

Stockholders' Equity and Stock Based Compensation - Plans and options (Details) - $ / shares	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2018	May 31, 2018
Stock-based compensation
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Options outstanding	0	0
Options exercisable	0	0
Options reserved for future issuance (in shares)	0
2021 Plan
Stock-based compensation
Common Stock, par value (in dollars per share)	$ 0.01
Number of shares of common stock initially available for award	500,000
Options reserved for future issuance (in shares)	373,594
2012 Plan
Stock-based compensation
Number of shares of common stock initially available for award			1,000,000	600,000
Options reserved for future issuance (in shares)	0		352,158

Stockholders' Equity and Stoc_4

Stockholders' Equity and Stock Based Compensation - Nonvested (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) installment $ / shares shares	Dec. 31, 2021 USD ($) installment $ / shares shares
Selling, general and administrative expenses
Weighted Average Grant Date Fair Value
Share-based compensation expense | $	$ 1.9	$ 1.5
Restricted stock
Shares
Nonvested shares at the beginning of the period | shares	122,102	122,792
Granted (in shares) | shares	78,505	106,122
Vested (in shares) | shares	(75,492)	(84,653)
Forfeited (in shares) | shares	(4,056)	(22,159)
Nonvested shares at the end of the period | shares	121,059	122,102
Weighted Average Grant Date Fair Value
Nonvested shares at the beginning of period (in dollars per share) | $ / shares	$ 18.35	$ 13.37
Granted (in dollars per share) | $ / shares	31.83	22.96
Vested (in dollars per share) | $ / shares	21.93	17.47
Forfeited (in dollars per share) | $ / shares	19.20	16.14
Nonvested shares at the end of period (in dollars per share) | $ / shares	$ 24.83	$ 18.35
Unrecognized compensation cost (in dollars) | $	$ 2.8
Weighted average period for recognition of unrecognized compensation cost	2 years 3 months 18 days
Restricted stock | Maximum
Shares
Number of equal quarterly installments for vesting of awards | installment	16	16

Defined Contribution Plan (Deta

Defined Contribution Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plan
Company's matching contributions equal to each employee's contribution (as a percent)	50%
Maximum contribution of employees as a percentage of their compensation	6%
Amount expensed	$ 0.3	$ 0.3

Commitments and Contingencies (

Commitments and Contingencies (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) director
Contingencies
Number of executive officers with employment agreements | director	4
Period in which additional severance can be paid if there is a change in control	12 months
Other
Standby letters of credit	$ 0
Standby repurchase obligations or other commercial commitments	$ 0
Minimum
Contingencies
Period for severance payments	6 months
Maximum
Contingencies
Period for severance payments	12 months

Related Party Transactions (Det

Related Party Transactions (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Accrued referral fees		$ 0	$ 0.1
Board of Directors
Sales to related party	$ 0.2		0.3
Due from related party			0
Family member of executive
Sales to related party		1.8	0.4
Due from related party		0.1	0.2
Accrued referral fees		$ 0	$ 0.2

Industry, Segment and Geograp_3

Industry, Segment and Geographic Financial Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)
Segment reporting information
Number of reportable operating segments | segment	2
Revenue	$ 304,348	$ 282,582
Gross profit	54,094	45,716
Direct Costs	20,100	19,351
Segment Income Before Taxes	33,994	26,365
General and administrative	14,044	12,785
Amortization and depreciation expense	2,054	1,529
Acquisition related costs	582	0
Interest, net	159	359
Foreign currency transaction loss	(941)	(46)
Income before provision for income taxes	16,532	12,364
Distribution
Segment reporting information
Revenue	282,509	259,360
Gross profit	44,970	36,526
Direct Costs	15,804	14,610
Segment Income Before Taxes	29,166	21,916
Solutions
Segment reporting information
Revenue	21,839	23,222
Gross profit	9,124	9,190
Direct Costs	4,296	4,741
Segment Income Before Taxes	$ 4,828	$ 4,449

Industry, Segment and Geograp_4

Industry, Segment and Geographic Financial Information - Selected Assets by Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total Assets	$ 231,856	$ 190,752
Segment Total
Segment Reporting Information [Line Items]
Total Assets	202,022	152,401
Corporate Assets
Segment Reporting Information [Line Items]
Total Assets	29,834	38,351
Distribution
Segment Reporting Information [Line Items]
Total Assets	180,602	133,506
Solutions
Segment Reporting Information [Line Items]
Total Assets	$ 21,420	$ 18,895

Industry, Segment and Geograp_5

Industry, Segment and Geographic Financial Information - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 304,348	$ 282,582
Distribution
Disaggregation of Revenue [Line Items]
Net sales	282,509	259,360
Solutions
Disaggregation of Revenue [Line Items]
Net sales	21,839	23,222
USA
Disaggregation of Revenue [Line Items]
Net sales	236,517	221,304
USA | Distribution
Disaggregation of Revenue [Line Items]
Net sales	225,380	210,247
USA | Solutions
Disaggregation of Revenue [Line Items]
Net sales	11,137	11,057
Europe and United Kingdom
Disaggregation of Revenue [Line Items]
Net sales	43,594	36,707
Europe and United Kingdom | Distribution
Disaggregation of Revenue [Line Items]
Net sales	34,423	26,055
Europe and United Kingdom | Solutions
Disaggregation of Revenue [Line Items]
Net sales	9,171	10,652
Canada
Disaggregation of Revenue [Line Items]
Net sales	24,237	24,571
Canada | Distribution
Disaggregation of Revenue [Line Items]
Net sales	22,706	23,058
Canada | Solutions
Disaggregation of Revenue [Line Items]
Net sales	1,531	1,513
Company As Principal | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	266,378	250,682
Company As Principal | Distribution | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	251,334	234,322
Company As Principal | Solutions | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	15,044	16,360
Company As Agent | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	37,970	31,900
Company As Agent | Distribution | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	31,175	25,038
Company As Agent | Solutions | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	$ 6,795	$ 6,862

Industry, Segment and Geograp_6

Industry, Segment and Geographic Financial Information - Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Net sales to unaffiliated customers and identifiable assets by geographic areas
Identifiable Assets by Geographic Areas	$ 231,856	$ 190,752
USA
Net sales to unaffiliated customers and identifiable assets by geographic areas
Identifiable Assets by Geographic Areas	137,877	122,445
Canada
Net sales to unaffiliated customers and identifiable assets by geographic areas
Identifiable Assets by Geographic Areas	27,597	24,923
Europe and United Kingdom
Net sales to unaffiliated customers and identifiable assets by geographic areas
Identifiable Assets by Geographic Areas	$ 66,382	$ 43,384

Industry, Segment and Geograp_7

Industry, Segment and Geographic Financial Information - Concentration (Details)	12 Months Ended
	Dec. 31, 2022 customer item	Dec. 31, 2021 item customer
Top five customers
Significant Customers and Vendors
Number of customers	5	5
Net sales | Customer concentration risk
Significant Customers and Vendors
Number of customers	2	2
Net sales | Customer one | Customer concentration risk
Significant Customers and Vendors
Percentage of concentration risk	21%	18%
Net sales | Customer two | Customer concentration risk
Significant Customers and Vendors
Percentage of concentration risk	16%	17%
Net sales | Top five customers | Customer concentration risk
Significant Customers and Vendors
Percentage of concentration risk	52%	51%
Net accounts receivable | Customer one | Customer concentration risk
Significant Customers and Vendors
Percentage of concentration risk	16%	18%
Net accounts receivable | Customer two | Customer concentration risk
Significant Customers and Vendors
Percentage of concentration risk	18%	22%
Purchases | Vendor concentration risk
Significant Customers and Vendors
Number of customers | item	2	2
Purchases | Vendor concentration risk | Vendor One
Significant Customers and Vendors
Percentage of concentration risk	17%	20%
Purchases | Vendor concentration risk | Vendor Two
Significant Customers and Vendors
Percentage of concentration risk	9%	10%

Schedule II--Valuation and Qu_2

Schedule II--Valuation and Qualifying Accounts (Details) - Allowances for accounts receivable - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Valuation and qualifying accounts
Beginning Balance	$ 881	$ 892
Charged to Cost and Expense	19	26
Deductions	58	37
Ending Balance	$ 842	$ 881