CLMBMEDIUM SIGNALREGULATORY10-K

CLMB added comprehensive cybersecurity governance disclosures while achieving strong 40% revenue growth, though operating cash flow declined significantly by 51%.

The addition of detailed cybersecurity governance language likely reflects compliance with new SEC cybersecurity disclosure requirements that became effective in 2023-2024. The company appears to be investing heavily in growth given the substantial revenue increase paired with declining operating cash flow efficiency.

Comparing 2026-02-27 vs 2025-03-11View on EDGAR →
FINANCIAL ANALYSIS

CLMB delivered impressive top-line growth with revenue surging 40% to $652.5M and net income growing 15% to $21.3M, while maintaining a strong balance sheet with increased cash reserves and reduced debt. However, the 51% decline in operating cash flow from $33.7M to $16.6M despite higher earnings suggests significant working capital investments or timing differences that may reflect the costs of rapid expansion. The overall picture shows a company in growth mode with solid profitability but requiring careful monitoring of cash conversion efficiency.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
-50.8%
$33.7M→$16.6M

Operating cash flow fell 50.8% — earnings quality concerns; investigate working capital changes and non-cash items.

Revenue
P&L
+40.1%
$465.6M→$652.5M

Strong top-line growth of 40.1% — accelerating demand or successful expansion into new markets.

Share Buybacks
Cash Flow
+29.3%
$1.6M→$2.0M

Share repurchases increased 29.3% — management returning capital, signals confidence in intrinsic value.

Stockholders Equity
Balance Sheet
+28.7%
$90.6M→$116.6M

Equity base grew 28.7% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Total Debt
Balance Sheet
-27.8%
$1.8M→$1.3M

Debt reduced 27.8% — deleveraging strengthens balance sheet and reduces financial risk.

Cash & Equivalents
Balance Sheet
+22.8%
$29.8M→$36.6M

Cash grew 22.8% — improving liquidity position supports investment and shareholder returns.

SG&A Expense
P&L
+19.5%
$56.5M→$67.5M

SG&A increased modestly — likely reflects growth-related hiring or sales expansion investment.

Gross Profit
P&L
+15.6%
$91.1M→$105.3M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Net Income
P&L
+14.6%
$18.6M→$21.3M

Net income grew 14.6% — bottom-line growth signals improving overall business health.

LANGUAGE CHANGES
NEW — 2026-02-27
PRIOR — 2025-03-11
ADDED
false --12-31 FY 2025 true The Board of Directors oversees the Company s cybersecurity risk exposures, with primary oversight responsibility delegated to the Audit Committee.
In accordance with its charter, the Audit Committee periodically reviews and discusses with management the Company's cybersecurity and data privacy risks, the policies and procedures implemented to monitor and mitigate those risks, the adequacy of information technology and cybersecurity controls, and reports regarding cybersecurity incidents, assessments and remediation efforts, as appropriate.
The Chief Information Officer oversees the IT team and is responsible for developing and implementing our information security program and reporting on cybersecurity matters to the Audit Committee.
The Board of Directors oversees the Company s cybersecurity risk exposures, with primary oversight responsibility delegated to the Audit Committee.
In accordance with its charter, the Audit Committee periodically reviews and discusses with management the Company's cybersecurity and data privacy risks, the policies and procedures implemented to monitor and mitigate those risks, the adequacy of information technology and cybersecurity controls, and reports regarding cybersecurity incidents, assessments and remediation efforts, as appropriate.
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REMOVED
These risks and uncertainties include, but are not limited to, the continued acceptance of the Company s distribution channel by vendors and customers, the timely availability and acceptance of new products, product mix, market conditions, inflation, competitive pricing pressures, the successful integration of acquisitions, contribution of key vendor relationships and support programs, including vendor rebates and discounts, interest rate risk and impact thereof, as well as factors that affect the software industry in general and other factors generally.
We continually review the marketplace to identify new and emerging vendors and products to potentially add to our vendor partners.
Solutions Segment We also provide comprehensive IT solutions directly to end users through our Solutions segment, which accounted for approximately 5 % of our consolidated net sales and 14% of our consolidated gross profit during the year ended December 31, 2024.
Through our Distribution segme nt, we sell a wide variety of technology products from a broad range of software vendors and manufacturers, such as Bluebeam Software, Microsoft, Delinea, Micro Focus, SmartBear Software, SolarWinds, Sophos, TechSmith, Trend Micro, Unitrends, Tintri and Extrahop .
For the year ended December 31, 2024, we had one vendor that accounted for 10% of our consolidated purchases and our largest five vendors generated approxim ately 29 % of our consolidated purchases.
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