9M2025 consolidated residential fiber net adds reached 369,880 with strong trifecta financials

1H2025 consolidated revenue growth of 10.1% YoY;
EBITDA margin ended at 61.2% and ROIC at 18.2%

 

9M2025 Key Highlights 

• Converge registered consolidated revenues of P33.0Bn for 9M2025, higher by 10.1% from the same period last year
• 9M2025 Residential revenues grew to P27.7Bn or 9.1% YoY growth
• Enterprise revenues reached P5.2Bn in 9M2025, a growth of 16.2% YoY
• EBITDA grew 10.6% to P20.2Bn with margin ending at 61.2% for 9M2025
• 9M2025 net income after tax increased by 8.4% from last year to reach P8.9 Bn representing net income margin of 27.0%
• Consolidated residential fiber net additions for the first nine months reached a total of 369,880
• Maintained outstanding ROIC at 18.2% for 9M2025

MANILA, Philippines, November 6, 2025

Resilient residential and enterprise divisions, maintaining strong growth

Topline growth remains within guidance 

Converge Information and Communications Technology Solutions, Inc. (PSE: CNVRG) (“Converge” or the “Company”) delivered double-digit revenue growth in the first nine months of 2025. Consolidated revenues grew by 10.1% in 9M2025 to P33.0Bn from P29.9Bn in 9M2024.

Residential business grew by 9.1% YoY to P27.7Bn during the nine-month period. Converge ended September 2025 with a total of 2,926,593 residential subscribers. This is comprised of 2,416,561 postpaid subscribers and 510,032 prepaid subscribers. The 9M2025 gross and net fiber adds show continuous demand for all three core products FiberX, BIDA Fiber, and Surf2Sawa. For the first nine months of 2025, total residential gross adds reached more than half a million. FiberX gross adds remained stable during the third quarter, and Surf2Sawa gross adds reached more than 100,000 during the same period.

In 9M2025, enterprise revenue grew by 16.2% to P5.2Bn from P4.5Bn in 9M2024. SME and Wholesale subsegments emerged with strong double digit revenue growth due to a larger customer base.

Robust EBITDA margin and net income margin underscore disciplined expense control

EBITDA sustained a strong growth trajectory with industry-leading margins 

The Company’s EBITDA grew by double-digits at 10.6% to P20.2Bn in 9M2025. Consolidated EBITDA margin improved to 61.2% compared to 61.0% from the same period last year.

Net income after tax grew by 8.4% from P8.2Bn in 9M2024 to P8.9Bn in 9M2025, resulting in net income margin of 27.0% for 9M2025, versus 9M2024 net income margin of 27.4%.

These operational and financial results underscore the resilience of the Company’s core operations and reinforce commitment to delivering consistent, long-term value.

Strong ROIC and Balance Sheet

The Company maintained its industry-leading Return on Invested Capital (“ROIC”) at 18.2%. This performance is a result of the Company’s disciplined approach in deploying capital to expand its fiber network and improve its overall services.

Converge has been able to maintain its strong balance sheet and cash flows with ample liquidity and gearing comfortably within bank covenants. The Company’s net debt position (as measured by total financial debt less cash and cash equivalents) remains stable at P10.5Bn as of September 30, 2025. The Company repaid a portion of its financial debt, reducing the balance to P25.5Bn. This slightly reduced the finance cost incurred in 3Q2025. The Company’s debt service coverage ratio (“DSCR”) was 3.4x, the net debt-to-total equity was at 0.2x, and gross debt-total equity was at 0.4x – well within the required financial covenants from its debt facilities.

Total cash CAPEX as of 9M2025 amounted to P7.4Bn.

Bifrost Subsea Cable System lands in Davao

The trans-pacific cable system Bifrost has reached Philippine shores, landing in Davao in August. Strategically owning and operating the Davao International Cable Landing Station (ICLS) where the Bifrost Philippine branch will be terminated, Converge will very soon provide direct access to one of the most advanced international subsea cable systems, delivering unparalleled speed, resilience, and capacity for global communications.

The Bifrost Cable System is the first trans-pacific system in over two decades that traverses a new route between the United States (California and Oregon), Guam and Southeast Asia via Indonesia, Singapore, and the Philippines—enabling ultra-low latency and high-capacity bandwidth essential for today's digital economy.

"This milestone is more than a technological achievement—it’s a national enabler. With this critical infrastructure in place, we are not only enabling digital transformation but also creating new trade pathways and opportunities for the Philippines," said Dennis Anthony Uy, CEO and Co-Founder of Converge.

"This is about digital transformation, economic empowerment, and future-proofing our national infrastructure. We are enabling secure, high-capacity, cross-border data flows that will drive global trade, power innovation, and position the Philippines as a formidable player in the digital economy," added Mr. Uy.

Currently undergoing testing and equipment installation, the Bifrost Cable System is expected to be operational by year-end.

As businesses across all industries face challenges in evolving cyber threats and increasing need for optimized, high-performance network connectivity, Converge introduced the Cyber Resiliency Bundle, a comprehensive solution uniting reliable connectivity and SD-WAN technology.

The Cyber Resiliency Bundle is designed to empower businesses with the secure, reliable, and high-performing connectivity they need to remain resilient in today’s digital-first world. Whether it’s ensuring business continuity during a Distributed Denial of Service (DDoS) attack or delivering seamless connectivity for mission-critical operations, this bundle offers an innovative all-in-one solution to businesses to meet their growing demands.

The launch of the Cyber Resiliency Bundle reflects a growing commitment to helping businesses proactively adapt to an increasingly complex digital landscape. It not only safeguards operations but also provides opportunities for businesses to streamline costs and boost efficiency, making it an integral part of future-ready strategies.

Converge honored among PH’s best-governed listed firms, receives top Five Golden Arrow rating under the ASEAN Corporate Governance Scorecard

Converge has achieved the country’s highest distinction in corporate governance under the ASEAN Corporate Governance Scorecard (ACGS), as it received the top Five Golden Arrow rating on the latest review conducted by the Institute of Corporate Directors (ICD).

In the awarding ceremonies held last October 23, Converge Chairman Jose de Jesus said: “Converge is marking its fifth anniversary as a publicly listed company (PLC) on October 26 and this award gives us more reason to celebrate. As our company evolves from being a telco to a technology company, we’ll remain steadfast in taking good care of the trust of our shareholders, our customers, our employees, our business partners, and the communities we serve. We believe that it is this trust that enables innovation to flourish and sustains our growth as a technology company.”

The latest ICD evaluation conducted last year showed that Converge exemplified excellent adherence to the principles and practices enshrined in the ACGS, which underscores accountability, fairness and transparency, among others, as key pillars of strong corporate governance.

The Five Golden Arrow rating is a leap from the Company’s Three-Arrow standing in 2023 and represents a significant milestone attained within just five years of its public listing — among the youngest PLCs that have achieved this advanced rating.

“Corporate governance has been front and center of how we do business. Over the past few years, we have strived to align our practices with global benchmarks. We are honored to have received the top rating, a recognition we deeply value as a young company growing in this journey, and as we continue our commitment to upholding the highest ethical standards,” said Converge Co-Founder and President Maria Grace Uy.

This press release may contain forward looking statements and information that are, by their nature, subject to significant risks, uncertainties, and assumptions. Many factors could make or cause the actual results, performance or achievements to be materially different from those expressed or implied in this release. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein.