Climb Global Solutions Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Note 7 - Goodwill and Other Intangible Assets

Note 7 - Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Text Block]

7. Goodwill and Other Intangible Assets:

The following table summarizes the changes in the carrying amount of goodwill for the three months ended March 31, 2025:

	*Distribution*		*Solutions*		*Consolidated*
Balance December 31, 2024	$	26,530	$	8,394	$	34,924
Translation adjustments		484		267		751
Balance March 31, 2025	$	27,014	$	8,661	$	35,675

Information related to the Company’s other intangibles, net is as follows:

	*As of March 31, 2025*
	*Gross*				*Net*
	*Carrying*		*Accumulated*		*Carrying*
	*Amount*		*Amortization*		*Amount*
Customer and vendor relationships	$	44,691	$	9,137	$	35,554
Trade name		496		146		350
Total	$	45,187	$	9,283	$	35,904

	*As of December 31, 2024*
	*Gross*				*Net*
	*Carrying*		*Accumulated*		*Carrying*
	*Amount*		*Amortization*		*Amount*
Customer and vendor relationships	$	43,805	$	7,603	$	36,202
Trade name		481		133		348
Total	$	44,286	$	7,736	$	36,550

Customer relationships are amortized over thirteen years. Vendor relationships are amortized between four and fifteen years. Trade name is amortized over fifteen years.

During the three months ended March 31, 2025 and 2024, the Company recognized total amortization expense for other intangibles, net of $1.3 million and $0.7 million, respectively.

Estimated future amortization expense of the Company’s other intangibles, net as of March 31, 2025 is as follows:

2025 (excluding the three months ended March 31, 2025)	$	4,501
2026		5,547
2027		4,046
2028		3,796
2029		3,546
Thereafter		14,468
Total	$	35,904