Converge 3Q/9M Results; Remarkable Growth and Digital Advancements
Converge ICT Solutions Inc. has reported an exceptional performance in the first nine months of 2025, solidifying its position as a leading fiber broadband powerhouse. The company posted double-digit revenue growth and significant expansion across all segments, underscoring its successful transition to a TechCo model.
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| Converge Dominates Q3 2025: P33B Revenue, Fiber Base Hits 2.93M Subscribers |
Financial & Subscriber Uplift: The Core Metrics
Converge is delivering tangible value, evidenced by robust financial and operational metrics:
- Total Revenue: Surged to P33 Billion (double-digit growth) in 9M 2025.
- Net Income: Increased 8.4% year-on-year, reaching P8.9 Billion.
- EBITDA: Grew 10.6% to P20.2 Billion, driving an improved EBITDA margin of 61.2%.
- ROIC (Return on Invested Capital): Maintained an industry-leading 18.2%.
- Customer Base: Expanded to nearly 2.93 million residential subscribers, adding nearly 370,000 new fiber connections.
- Enterprise Growth: 16.2% increase in enterprise revenues (P5.2B), powered by strong growth in SME and Wholesale subsegments.
Digital Advancements & Infrastructure Value
CEO Dennis Anthony Uy affirms the focus on digital transformation and value-added services (VAS), slated for continued expansion into 2026. This focus is already yielding key tech wins:
- Bifrost Cable System Landing in Davao: Provides unprecedented speed, resilience, and capacity via direct access to an advanced trans-Pacific subsea cable for third-party players.
- Cyber Resiliency Bundle (SD-WAN): A software-defined wide area network (SD-WAN) solution empowering businesses with secure, reliable, and high-performing connectivity and safeguard operations.
- Viva Communications Partnership: Strategic collaboration to integrate original Filipino content into the Xperience Hub, diversifying entertainment for nearly three million subscribers.
- Surf2Sawa (Prepaid Fiber): Surpassed half a million subscribers, validating the demand for accessible, high-speed prepaid fiber connectivity.
Industry Recognition: Governance and Leadership
Converge's commitment to excellence extends beyond the network:
- Corporate Governance: Earned the top Five Golden Arrow rating (up from Three-Arrow) based on the ASEAN Corporate Governance Scorecard (ACGS), recognizing it as one of the best-governed publicly listed firms in the Philippines.
- Industry Leadership: Hosted the 51st Philippine Business Expo and Conference, facilitating critical discussions on digital transformation for Filipino organizations.
Converge ICT Solutions Inc. Reports Strong Performance with 14% YoY Revenue Increase and 29% YoY Net Income Growth in First Nine Months of 2024
Converge ICT Solutions Inc. (PSE: CNVRG), a leading fiber broadband and technology provider, has reported a 29% year-on-year increase in net income to P8.2 billion and a 14% rise in consolidated revenues to P29.9 billion for the first nine months of the year. These positive results are attributed to the robust performance of its residential, enterprise, and wholesale sectors.
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| Converge ICT Solutions Inc. Reports Strong Performance with 14% YoY Revenue Increase and 29% YoY Net Income Growth in First Nine Months of 2024 |
The company added over 330,000 new residential subscribers within the first nine months of the year, with more than 108,000 joining in the third quarter alone.
Converge's CEO and Co-Founder, Dennis Anthony Uy, attributes this sustained growth to their commitment to making internet access more affordable and inclusive. He acknowledged their successful partnerships with tech companies and government projects that help bridge the digital divide.
The company's FiberX gross additions in the third quarter were the highest in the last ten quarters, with the churn rate staying around 2%. Surf2Sawa also had its highest quarterly gross and net additions, indicating continued demand from the broader underserved market.
By the end of the period, Converge had a total of 2.46 million subscribers, with residential revenues growing by 13.2% to Php 25.4 billion.
Converge's Chief Operations Officer, Jesus Romero, highlights their customer-centric approach and plans to continue exploring innovative ways to enhance customer satisfaction.
Converge Unveils Innovative Hospitality Solution - Converge Concierge with SkyTV
The company's enterprise business saw revenues increase by 19% to P4.5 billion. All segments, including the wholesale segment, registered double-digit growth.
Benjamin Azada, Converge's Chief Commercial Officer, stressed the company's innovative mindset, adding that they are poised to support growth by rolling out cloud-based technologies and value-added services.
Converge recently announced a partnership with Netflix to offer its newest residential subscription plan, the Converge Netflix Bundles, starting from P1,798 monthly. The company also introduced Converge Sky+++, a smart TV solution for hotel and lodging firms, providing an in-room entertainment and information hub along with high-definition internet protocol television (IPTV).
Converge has permanently increased its minimum speed to 100 Mbps for all its FiberX subscribers, a move initially launched in February to celebrate its consecutive wins at the Ookla® Speedtest Awards.
Converge's President and Co-Founder, Grace Y. Uy, expressed optimism about the company's steady growth and their expectation to meet the 12-14% revenue guidance for 2024.
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