WSTG - Earnings call transcript Q1 2021 | Climb Global Solutions, Inc.

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Operator

Good morning everyone. And thank you for participating in today's conference call to discuss Wayside Technology Group's Financial Results for the First Quarter ended March 31, 2021.

Joining us today, our Wayside CEO, Mr. Dale Foster, the company's CFO, Mr. Michael Vesey, and the company's outside investor relations advisor, Cody Cree with Gateway Investors Relations. have went the approximately out Eastern should earnings quarter X:XX everyone Time. which release, yesterday now, access first to XXXX PM By afternoon at Technology Investor is section in release at the The of available Wayside Group's, website waysidetechnology.com. Relations webcast available This the on for is company's replay call also website.

I'd to remarks, for Mr. we'll questions. some call turn to introductory for the management like the Cree Following your comments. open now call over

Cody Cree

Thank you, James.

and statements in These that unknown webcast to risks could other of forward-looking like also considered statements on remind only that subject time the time in in materially Except by and undertakes this assumptions I'd results conference certain the actual reflected Dale, made call as These forward-looking under differ are to from Reform subject any introduce well I call. are uncertainties statements Before not known generally company statements. to Litigation The revise undue any described with Do Act to as obligation of cause that date are the which from to results to law. XXXX. certain forward-looking statements. uncertainties, forward-looking are and speak publicly listeners those as these no Securities of comments Private to forward-looking SEC. statements, place filings or forward-looking required risks revision company's release and as the the this any reliance of

GAAP All rules. accordance per including as non-GAAP business. certain in reconciled measures, non-recurring EBITDA, non-GAAP SEC adjusted includes performance and income also with directly the financial of most been have of supplemental costs share billings, presentation earnings comparable to gross excluding measures Our measures net measures non-GAAP our adjusted

I in Dale and to now in other CEO, would Wayside over the find Form like Foster. yesterday. SEC important release information You'll we turn to call furnished reconciliation the to X-K earnings the charts

Dale Foster

Thank And Cody. you, everyone. good morning

million, foundation solid sales continue quarter, gross the gross to period, billings. a our adjusted tough your comparable prior record. which a a growth year net giving strategy And growth business for company drive our reached XXXX. across and during is continue our $XX.X first year Despite We over profit we

While we our benefits fully objectives, continue growth these of the to of ahead yet strategic flow our investments have make profitability. to investments through

will expect we we onto for over our with to time, drive the integration year. we vendor progress three growth work and rest and build to laid and as expand quarter However, last work our bottom-line our this out underscore The they growth during guide recent network, drivers of synergies this core and acquisitions. continue our QX,

As a brief relationships. reminder, as these business by deepening vendor follows: revenue first organic our from existing initiatives are drive growth

vendor their changing technology adapt product to of these profit With also from cloud-based solutions, free with Secondly, strategic exhilarated further And by shifted enhance and of our choppy creative drivers by not to flow work quarter and becoming and landscapes mind, timelines. average current environment our long-term relationships review make emerging to our useful margin. the many core our potential. cash to this that mix structure their deepening our our and within balance With we long-term To work but greater of above expectations today's navigate utilize trajectory increasingly Customers sheet on vendors have growth customers quarter-to-quarter driven in has overall I'd the needs. needs card inherently quarter each infrastructures. our for adding while operational identify new our financial This framework only a in to making adoption and strategic performance. and hybrid helping vendor IT detail enhance context this technologies, begin, meet including on-premise our remain their QX our our improve acquisitions business. line progress, like provides to vendors we third, growth as focused in businesses' as working evaluating end

expected cloud as During the gradually needs security, quarter. trends the $XX this spending as cloud to concept and is the another cloud. of recognize that These QX the prevalence state, advances. our our working by evolve solutions. cloud cloud support current category and security, growing top-selling According security and our center reach optimally by card line underlies And will the demand a strategy, from product within broader a of center portfolio, we're our on IT our We by current driven products macro-economic position over recent billion from recovery to and point published spending their products. data product diversify cloud continue these garnered greater last needs. to of the lines exposure driven portfolio rapid work IDC, on pandemic to to these portfolio adoption even to In to data products guide and replacing hardware growth portion includes of remote year, recent vendor adjacent already and market, end

continue emerging Our help are our our Ones network tomorrow. to vendors. work us and diversify platform that on IT their needs of not serving preparing only as for but further IT to an build needs, customers will today's support also incubator for

now DataDirect title Climb wins and driver our partnerships. Solutions potential vendors updates let quarter. and wholly awarded some discuss current the establish in conjunction April, growth, continuing a emerging the vendor card, to the of year To Channel was subsidiary by second In focus Tintri, to Disti highlight Next, of from important with of we're the of to mutually Networks. owned beneficial with core turn growth me line our on long-term developing this

and distribution our long to of Tintri's and we're honored this partnership received running expertise. recognition We a have intelligent touch have approach infrastructure with sales had high products,

Canada network. CDF As we're our we key global from line collaborate wins includes sales This EMEA card. several building among expanding recently of the teams, further US, reach we're our our and new through relationships acquired

next security And drive product. transformation this this growth with provider. portfolio. Keeping we've UK, we've with distribution products is vendors, generated we enterprise quarter, generation one momentum launching firewall established our added to the forward digital our enhanced also to software carrying instance, the continued of For product and with its Sophos

acquisitions Micro same. in more the we Given North quarters success turning is attention to sell we've will help to portfolio do go customer software One we our now the XXX our us resource our the offerings distributed expand our of had and with build Having software empowers by liquidity currently independent capabilities. Bing other key alike our America, this integrates we're Office profiles. intelligent products. and Microsoft, the across dovetail vendor, continue on product creative mapping vendor added added to UK Focus significant enterprises over Europe distributing in product platform and marketplace, as our features identify to is product enabled balance we've suite past incremental on and enhance ISVs, our into Intel remarkable is which our additions our which developers into to to focused driver, four margin new a started to sheet or Microsoft where deeper with and footprint. third key mapping using location These This and functionality global we've progress core

platform, balance full integration a continue the of our as to around recent strong cloud sheet, capabilities acquisitions advance of CDF, as particularly services. and develop we supported our we're to well network As the vendor our by added

running IT Cloud How typical allow to elevates able our migration cloud the and utilized avenue of to we from This internal services the approach to geographies. last margin. cloud leverage beyond long offer set Cloud can distribution and new respectively Know each skill everyday a expanding accelerated and operating our offers marketplace. the stated Further, with have I our of platform quarter, Sigma, Matter products team, As our provide specialized Know our adoption Gray services all across us profit subsidiary technical through This of businesses support overall being customers us to ranging CDF's experts How our be by and consulting. function, development consultative

launch to this month. expect We in marketplace the full

to to Micro many Bitdefender vendors order. the to and in in short be Kronos, are added first line launch marketplace Trend with more The

to as that cloud as we're cloud are vendors, to specific approach launch moving the relationships. As taking well touch these we model, same high vendors subscription-based

the partner and for As global within and we enable of them positioning platform, our our US, and let and increase progress as set within get brand emerging distribution We're vendors conclude, cloud and Canada the we identifying vendor update products marketplace. coverage. grow strong profile premier their them network IC the them to our be and on our To EMEA, have historically global made choice to up distribution contracts done working network. me opportunities ourselves integration expanding tapped cross-selling efforts, throughout we've solutions to advancing say our into

Wasabi on that. time-line vendor excellent One partnered They Wasabi reliable brands, fast, have storage low-cost, is cloud that storage. an the newest of delivers company Technologies, and five with example a is other brands cloud of already card. the

just driving million, to work legacy, continue Additionally, of like these as to is do Wasabi and they've order ecosystem, To we capable our profitability, and achieve in will announced received channel will further funding, global expand help It's growth value Series opportunities instrumental provide their our that C that and $XXX customers. to be round network. platform in now be our level sure, leverage achieving. still have we of and desired our in growth acquired of believe to considerable recently expanded expanded distribution we

future to long-term our Mike reach to opportunities at and there, to out Mike? our needs. get progress, goals, look and with results. the look XXXX, we will current the to of I making to over forward we growth capture, strong we our We turn short-term our now an often-winding our plenty continuing as to discuss of see call meet partnership financial As and vendors' with evolving road balance vendors.

Michael Vesey

to to significant the to morning earlier. the of in CDF in a existing XXXX compared first Gross $XXX.X the quarter. in same in increased quarter rebates, ago non-GAAP compared levels $XX.X the partially had of Interwork factors sales record year-ago customer a the substantial compared vendor billings, in of the Thanks Interwork XXXX, and investing by note, quarter customers' rebates, at everyone. during $XXX.X increased had of was and the product million to vendors profit compared operational strategic first both offsets our $X.X in impact changing to network, a prior of of customers the offset SG&A from business to increased It's Net future by Dale. in elevated positive the client to and $X.X This CDF increase impact quarter. with variety vendor reduced $XX.X we And driven positive which first mix quarter. with was Adjusted through the million incurred win. million, year-ago continue XXXX uptake The quarter modest in and slightly $XX.X of including growth as in XXXX, in mitigate discounts, our to quarter. million increased we're early-pay a important reflects working Dale million factors, mentioned the as within not quarter, gross all to first million, XX%, in year-ago of of XX% year-ago quarter a $X.X XXXX capture. the and the year were in We're quarter. relative quarters the measure, expenses and million these also first million good and the growth quarter to

as increase to was year the one-time net CDF quarter. XX.X% operations The primarily of expenses of and during percentage As incurred driven sales, well to costs by the incremental in severance related ago compared XX%, Interwork, SG&A quarter. the as was

of On costs realize recognized integrating move profit made ahead forward we've business, the with of CDF our we investments are base time, benefit that this these the to support over elevated support and expect to growth. in whole, reflect

$X.X EBITDA or or year-ago severance million $X.XX Interwork was diluted to and net of rebates, income, first the year-ago $X.X million, in in our related the expect XXXX or Adjusted The CDF Net SG&A unsolicited compared bid, compared rebates. increased to our resources $X.XX to early-pay to decrease as $X.X million quarter In share customer the the quarter. discount leverage organizations. the XX% income per per margin diluted decrease share million adjusted in net first share, resulted per per gradually compared we increased quarter million, was $X.X continue non-recurring XXXX, programs, or vendor We quarter. quarter. combined $X.XX the the from to improve in impact costs which of and excludes of $X.X $X.XX of the to expenses, million, $X.X the year-ago the acquisitions, taxes, share, of and

as investments. EBITDA, time As factors Effective compared We've through the working profit a discussed expense The on adjusted percentage we debt-free factors, XX, year-ago and growth set over was reflected vendor profitability. we're primarily as to remain better of our decrease associated XXXX. these and March margin, XX.X% our the quarter. million margin creating effective borrowings facility. million as of December our of in line, execute of to adjusted XX, mitigate our We with $XX as EBITDA XX.X%, result of our defined outstanding to aligned increased equivalents the compared improve from XXXX, our timing on credit The greater, as to no payments. in under flow the Cash growth $XX.X gross was mitigating increase objectives. $XX.X our cash million

share declared to acquisitive XX, per us of quarterly Looking XX to the position growth to common liquidity of our On payable our May of May of rest X, directors with dividend on provides flexibility strategies. year, of $X.XX May XXXX. on the strong and organic, on shareholders stock, record our a execute both Board

to solid continue and make a from with operate growth operational foundation, core financial our We progress drivers.

expand the our to ahead. This expect profitability concludes prepared in quarters We remarks.

Now it for we'll questions. open up

Operator

[Operator Instructions]. from Woo Capital. comes first And our Ascendiant from Ed question

Ed Woo

work business this pandemic Congratulations as you quarter. back on the ends, your as see schedules businesses affecting do year? how that the to come normal Definitely

Dale Foster

product thanks mix Mike Ed. And our mentioned, Yes, as hundred a a holding changes distributor, it vendors. as

that I changed different recovering you their how so that mixes to software product is looking mix. at of have still services, their end change has hardware, coming startup and selling are actually they're many get I are the to in out vendors think tell going can just look customers that how at phase, it's users. We what not and we to them many And

the and that, travel a than front looking the just of positive. positive, of vendors, yes, in opening Other So doing it's so all country and we're I'm the actually forward more to in parts customers up getting there. lot it's of

Ed Woo

out next you of What are on terms opportunity. valuations then is opportunity of and that you potential on there And my question it's these definitely M&A seeing Great. of pillar opportunities? mentioned a some for in

Dale Foster

talk Mike the Yes, on side. let I'll valuation

far as America talked as JSON As it consolidation distribution. been the markets. about go, on in far before, There's a opportunities we North as

new places the have we over our we the Europe, the markets, team in We're cloud, not at then So part into MSP, targets Microsoft the up mentioned, whole it Sigma US, maps not but JSON I look far for Europe we'll our look us other of to customers US as a acquisitions. to in mix, and there, think - we'll thing in into coming the ISVs especially only it the for to gets another it's a to as selling media big also although of as ISVs. us. coming some then continue and Intel business, category for those product potentials into market, opens And creative and

Michael Vesey

Yes.

creative are Synnex-Tech said, Data the over you think the of year us, In our Ed. I adequate that terms profitable, uplift some short-term things, merger years saying, don't strategically, in time Now, companies, look, that horizon valuation general things the nature. are a than you businesses and fit prospects the look that the will providers in particularly past." some in investments of metrics, and multiples the I "An for view X think at at larger if our to X.X looked there's return say we longer than and think we if We ones changed, ago, distribution or made and being of probably reviewing and has business,

acquire people company, general. business that we enough cash in that So hasn't relative in model kind capital our and of probably But much. view them, value and flow light distribution to when a the environment model, we're values small look that might of seeing are this to the be changed in multiples

Operator

Instructions]. [Operator

next comes Howard question from Our Root [ph].

Unidentified Analyst

dividend management know and X just Dale questions Congratulations the just progress, forward. look open-ended on dividend. one going at continued the level? got is quick question kind kind worth at process look that I you, story plus you've or on committed that I on of $X.XX got still dividend? then we dividend to opportunities, and but even it's of the growth the things When assume, new I this forward, growth years, It's X for board dividend, these been to Michael. there any inherited to last team thought is a at the more asking, changes the though as

Dale Foster

board Howard We has We It might and that about could the I the stays side We right. better right board we cash you're place saying, to better wait we meetings forward use take it we're the the on time. It well. flow If in the a on for have it. have as still we acquisition have now. right. been those Board until don't at that use long really it look is inherited new you're a and one it a each and we we have still dividend there's a it we free and use second, committed mentioned. talk plus in for inherited think of place dollars

Unidentified Analyst

quick happens? there number that adjusted $XXX the a from going can second year stay How to which net and the essentially sales doesn't copy beneficial the ago that at you how but class net $XX The your up make. but billings up, one track you billings forward And with in see in million, we flat Can tough effect if goes gross adjusted going thing, explain that million gross increased with million, QX. year, look sales, to year ago $XXX X question. from XX% obviously Great. the over were is

Dale Foster

there. in my I'll Yes, Mike then cents let answer and put X

Michael Vesey

Yes.

a structure of piece whether not the to we're we vendor, a a us into contract, operate how or if and vendor. what extent, our a dropped selling by dropped transaction certain terribly a hardware, to is, that's enter relevant shipped in which shipped by cost software is business for we when So a it bill

we a a contracts net as is net as piece a gross and of types the hardware, we sales. And if or sale. report of If certain software, However, sell a profit security different. maintenance of piece sell accounting we just the report that we software contracts,

of you down. So is tracking going internally. volume the gross use of activities that the to where gross kind the business And number were sale our a net product as to said, included activity large this and kind we at a from our you'll if look are didn't And the XX% It and one the And remember, plus. we whether the up indicator that shift real outlier year, for sales grew our dramatic quarter software last or adjusted our mix hardware sale billings get large adjusted how flattish sales of was back, a or measure vendors. more look of The our billings, reason have year, hardware. security. of is sales this included

of a was gross revenue net mix, the the on are really So economics we recorded it same whether or strictly function how to for a that was GAAP. it But GAAP product us, basis. record

a look our how to indicators perform. lot our and of we adjusted key as internally So gross gross the profit billings and growth businesses

Dale Foster

a ago. collect I had just million. [ph], $XXX right? at $XXX I I it mean year pragmatic, look I like have collect Howard Yes. to to quarter X million

billing. us on Mike's watch but those to are from to and margin growth It's, what of real the and it our It's collecting the customers, on dollars. want side GAAP profit actually what That's gross we're standards piece. down to So vendors that accounting right. us are the report, the nets gross the our paying the piece these

Unidentified Analyst

more tie in question and in making open-ended XX% if stolen XX%, think Good. year, Okay. general, calculate QX from I are last And gross might XX% phenomenal this QX. I improvement your last that margins into

internal into this will we're of to of of internal marketplace, hardware you up your the get improving, that the especially you a Can be give know little in marketplace? assume continue as you but we And guidance. cloud-based year. you how business that to that you margins way last in It's, the out? gross move I see that, So I is terms, any talk kind feel information software playing And looking with cloud margins, do bit profitability as X% general at shift. I and software. along just now with this out software, that move improving it, that's of going And profitability grows into without should hard the into because sales, you about don't just upward. cloud this

Dale Foster

[ph]. Howard not it's No,

right? really it like that of and GP. will depending sales like do marketplace should Mike look versus at misleading, on should higher. dynamics Because whole should gross product at overall go margins And selling that's gross Versus sales, net we GAAP gross we're gross up, adjusted said typically And GAAP just just takes net changes at that, and one So it sale, of profit. it. cloud you it. it agree significantly margin those looking those numbers be dollars looks not you produce, the margins, with is margin it on you gross how profit. on The are the look because profit like all our big sales the at though, that hardware overall going into I that's what but

but distribution that, see we're business. the you'll So in

it's on to a can based the move billion-dollar needle So we margins and slim company are points that basis we very grow overall. the as

Unidentified Analyst

Yes.

I asked. Glad Okay.

Michael Vesey

that. And to

two think I So elements there's there. that

of to adjusted but more when look which kind profit at go well, think So you gross cloud to number to I profit you billings. look as Dale quarter be down is our our to are think moving saying guys important to We when tend yes, net an it services, alluded from earlier, up concept, Would the into it answer's sales, relative and over based relative think at indicator forget net. to are internally. what quarter don't those mix, on you but dollars time, will was gross would, know gross I general our recorded a as up? I that

look when let to you just to forward. both we're how factors we trying people measure know you're really want moving at should So

Unidentified Analyst

business I adjusted focused be increase the to should at a Yes, Okay. substantial your business is XX% as difficult look and by I QX. from a a GAAP basis. increase really billings that wasn't as gross it's And in on for the

Dale Foster

shows but correct. we're the bottom I to right. that's that line, that There work yes, done mean that we get the getting needed to

Operator

Next Ramsley question from Partners. Walter Walrus from comes

Walter Ramsley

Congratulations. Good quarter. the was how coming The looks what in a good It you they have quarter? like a for got things. companies of expecting? two up the purchased; year Do a you couple to figure up. did that and company do how were stacked We've contribution what their that

Michael Vesey

I'll that, Dale. take

report don't we the ours. on reason integrated we work, businesses into look you for And that, acquired. So companies totally into separately their the main it if

of value the the savings reporting superior running it. to was far cost of it integrating independently on and businesses So the

you growth CDF said also performance and and from were the with key then the management them, quarter. it we up performance way, being picked at we want of to we the that that assets out account for and So that pleased look of the meaning vendors got relationships,

So we think both performed well.

However, separately numbers cost do we it's report intermeshed so to that. difficult because the structures don't are the

Walter Ramsley

minute could the work? kind Okay. marketplace, just explain then new And how to Okay. of that's take cloud you going a and

Dale Foster

We like was there actually to demo it's this be, one And yesterday, XX% with a IT I Yes. team. the saw our from said, month, it's full of her, launch the going our, we had department. probably

to also that to just subscription-based take currently or that that it's going and now right to vendors the we So be And model. moving vendors new is model to we're have are marketplace. log-in need going it's go way a work into platform going a that to

credit marketplace, can that start their up, So our they background customers, the of they information log have for like into then they'd the for licenses, licenses buying adjuster things have course set done to facilities, online and all customers.

So working remember resellers. with their we're

over is more So in U.S. moving that it. what direct if and have see they're their, it's licenses running And the to quicker they why their that we and felt that side, Microsoft instance CDF that's that at not launch of a the we've on is have they've over a, hundreds a thousands And been to best our have users. Sigma. and already it more own learned and their already Microsoft the what in bring manage contracts vendors gray did or because popular. resellers end direction, and taken the subscription will than doing, or years we've the for matter, indirect much have in would reseller a you'll anything the it's

Walter Ramsley

And Okay. a that stream or Wayside, is just a quick recurring create there going is model? to pricing for different revenue

Dale Foster

Exactly.

recurring building. revenue go because, are management and yes, it'll of It they'll you'll get where see a be to to company But but quarterly, selling on that the be what we we're renewal or market. eventually that Both every the mostly and that year, as that It So of instead subscription be license it'll all-software that with company. a and a that's updates subscription the or want go vendor might monthly. they the update. we're The see of that happen subscription platform depending it. to that yearly, how in might an be the management monthly, and and

that subscription appliances or wants vendor some what that, it's go to do with it's have if But facilitate based. a and product, software than that other We to it's specialized. a

Walter Ramsley

And just a slow factor? it down build build going financials up as really be as up far as that you is the go while operation, won't or earnings temporarily this the it you to

Dale Foster

portfolio. the is diversified that's a issue some we So an with it because have than more vendors of

like vendor much in That's change. as a decided and able get see a AWS. to pretty from hardware into that or or sales away Azure their drastically see is won't near to You go be as it onto you as market platform a

Ours vendors take will the them in be, it'll get platform consider we're and typically, awhile that born still unless we're they cloud. the incubating to vendors themselves to incubating

vendors, think transition. slower some So will a that I a of more XXX with and be

see vendor won't as there if switching a it dramatically was You as over.

Operator

Our from comes next question Peter Luxe [ph].

Unidentified Analyst

doing I'm okay.

going before? As necessarily this possible, your as a thought forward somewhat the business, illiquidity better sort Given think the another plot brought to a Is profit I time to sort quarter wise. in private longest of the care have standing going as up be from back company? this one this more question the doesn't I've and question of. company the it's this you asked perhaps of and shares. it before, stockholder nature hard flow And of of than I've would

Dale Foster

have the as one, in if integrated, differently of me let still on of part the answer One to making that. other X profitable the know, getting far didn't But You quarter next sides. I quarter year, both and first as take the fully doesn't right? we make it acquisitions, one would midst one

as we of because that to lot coming Europe. CDF and things to the business far this things across I of way, say going our way, more both have an It's As a units. acquisition, US

Our and that's similar calling solutions going very don't is to to our be the group we're group. tech but Which gray extend what also matter. we talk about distribution, much

So that acquisitions. as we and but of of quarter going the that's to as the will also out well. that's as with have mix be that vendor quarter, And business quarter quarter far to be to driving some goes, profitability the on the costs

and it's if be your And out the piece any be in question the on it. different be be acquisitions? creative the software cloud of won't involved. MSP play, looking purely all mean first services They'll segments. the side that same I and sure. For piece we market an It'll questions there that we hardware was at there, integration have. that still will are As

Unidentified Analyst

group, tends the do intend continue to you in town remotely? be or opening some back to flock bring vision up, business of do As as a to

Dale Foster

question. Yes. Good

week. days us That couple our were I said go a for it because ago. on couple of remote quick a remote So to a calls teams was

a have Denver year over had now last We that before. happened we've office never the that

open wide our guidelines teams. of We're governments. local the following that's So with the

the I that, New office. to it as they day, in the take better as say in between we'll and back getting mix a middle I'm as much the comfortable soon be And everybody much get not get much are it's still the and then pretty to. is I opens to that. plan it's as as Jersey up the and XX% field it where country The in teams trip tighter teams But with thing listening. about to traveling being It's the up open The and sales to hardcore in away they're over back It's state. they're We we'll down team's far Mike should eventually there. teams office as from that still when and smiling But background seat back no, that will our where open. I Canada, talking my as XX%, we'll the is tough UK get office, because might person. on June know the of locked XX. allowed every their same into but

being us, but opening we'll the more So just no be authorities one's productive. let and up it's person traveling as in because

Unidentified Analyst

a it good stockholder but with dividend and every isn't. And agree your doing like caller good backboned the stockholder, A a times away with, solid would that previous sure was that. money perhaps And long-term I something questioned might I'm elsewhere as thing policy. considering a but the always has would Board bad probably if this seem in with know one dividend. idea the and at the using agree don't that's time company

Dale Foster

Peter. even get we takes different stockholders on Yes,

different collective what different as have mindsets board, as or say, good that you company energy the we mindsets. have paying with And stockholders that you acquisition." growth You go have thing you why why you far investments if about dividend? side very don't there's really I the call. into the make be We through guys, "Hey, group, So right they of as definitely after a a we'll doing. are have think internally either it our and the And should targets, independent,

other return don't any that in would for decision rest the on made to use that think we for than, better really the shareholders we as a we're I money year, at of make this to we that see find bigger targets. the haven't If we call. that We happening then value them, a looking can

Unidentified Analyst

one-offs. was on in conference more guys of question charge-backs, some I with again, that thought one In so every we've forth. well this asked we than one-offs, over. get severances, finished trend say, call? And you quarter I've and finally, the and once And sort

Dale Foster

is say this we're profitable. have acquisition, to when reorganizing you that company to if It look you when the at you're what as But make that. far is, team." we more as saying, and things to it be "Hey, we're is, the an and other find I It acquisition. going an Especially company. market those, makes go So can with it better doing any makes

So you're in while. a going to see some once of those

Operator

Foster final now the remarks. call for session. that to And question-and-answer back concludes turn the I'll Dale over

Dale Foster

address messed call. that just time's for did I a know I and time, Appreciate valuable And recording off the recording was Adrian. to off bat. you, that want kicking Apologize up We it. wrong right everybody. the this we Thank the loaded.

in. apologies to on listened my everybody Thanks So today that the that. call

our to you Wayside hope see employee person look in I I to the forward driving vendors, continued growth and in to customers, that the soon. Our company. also family,

this. reach. and we We of talk do tell lot and that with us lot we didn't that that and would to over up we'll like I our continue We the I make about before, think this say We you value customer marketplace. did months last is said for Just can expand companies still sense resellers. the expanded. numbers acquisition targets of, be a and expanding the the looking reach, XX But a just don't disruptive for kind to companies customer of continue of turtled do that where took and in we advantage our

everybody. to support. And your appreciate So thank I you

Operator

today's gentlemen, you this concludes conference and ladies you, call. for Thank participating. Thank

disconnect. may now You

Climb Global Solutions (CLMB) 9 May 212021 Q1 Earnings call transcript