Converge Technology Solutions Corp. (T:CTS*CA)

Business Focus: IT Services & Consulting (NEC)

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
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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

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