Sector: Technology | Industry: IT Services & Consulting |
Company Contact | |
Address: | 161 Bay St Suite 2325 TORONTO ON M5J2S1 |
Tel: | N/A |
Website: | https://convergetp.com |
IR: | See website |
Key People | ||
Thomas Volk Chairman of the Board | Greg Berard Chief Executive Officer | Avjitpal Kamboj Chief Financial Officer |
Shaun Maine Group Chief Executive Officer | Cory Reid Chief Operating Officer | John Teltsch Chief Revenue Officer | Julianne Belaga Chief Legal Officer and Secretary |
Business Overview |
Converge Technology Solutions Corp. is a services-led, software-enabled, information technology (IT) and cloud solutions provider. Its global approach delivers advanced analytics, artificial intelligence (AI), application modernization, cloud platforms, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. It supports these solutions with advisory, implementation, and managed services across all IT vendors in the marketplace. Its segments include Converge Hybrid IT Solutions (Converge), and Portage Software-as-a-Solution (SaaS) Solutions. Converge is focused on delivering advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, digital workplace, and managed services offerings and provision of hardware and software products and solutions to clients across various industries and organizations. SaaS is focused on digital transactions between individuals, businesses, and government organizations. |
Financial Overview |
For the three months ended 31 March 2024, Converge Technology Solutions Corp revenues decreased 7% to C$628.8M. Net loss decreased 2% to C$1.9M. Revenues reflect United States segment decrease of 8% to C$381.7M. Lower net loss reflects Salaries and benefits decrease of 4% to C$106.4M (expense), Unrealized foreign exchange loss decrease of 94% to C$157K (expense). Dividend per share totaled to C$0.01. |
Employees: | 894 as of Mar 9, 2021 |
Reporting Currency: | Canadian Dollars |
Enterprise value: | $1,292M as of Mar 31, 2024 |
Annual revenue (TTM): | $2,656M as of Mar 31, 2024 |
EBITDA (TTM): | $167.67M as of Mar 31, 2024 |
Net annual income (TTM): | -$1.40M as of Mar 31, 2024 |
Free cash flow (TTM): | $298.01M as of Mar 31, 2024 |
Net Debt Last Fiscal Year: | $183.37M as of Mar 31, 2024 |
Shares outstanding: | 201,870,384 as of Mar 31, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |