Converge gains ₱11.2B revenue in 1Q2026, reaches 3M subscriber milestone

Leading fiber broadband and technology provider Converge ICT Solutions Inc. (PSE: CNVRG) reported sustained growth with P11.2 billion in revenues in the first quarter of the year as its subscriber base reached more than three million amid the surge in its prepaid fiber internet users. 

As of end-March 2026, the total Converge subscriber base reached 3.09 million, representing a 14% year-on-year (YoY) improvement. A key driver of this growth was the Surf2Sawa (S2S) prepaid fiber service, which saw its subscriber base skyrocket by 86.7% YoY to reach 674,000 customers.

“We are focused on expanding our fiber footprint, especially in the Visayas and Mindanao, to serve more Filipinos with world-class connectivity,” said Converge Co-Founder and CEO Dennis Anthony Uy. “Our enterprise customers will also get a boost with the completion of our national digital infrastructure that sets the stage for providing cloud and data heavy services.” 

The company’s Enterprise business has also sustained its growth trajectory, with revenues seeing a 16% growth during the quarter to reach P 2 billion.

Converge recently marked the completion of its future-ready national digital infrastructure designed to prop up its delivery of cutting-edge technologies and cement the Philippines’ position as a vital node in the global digital economy. The said architecture consists of its extensive fiber backbone and satellite network, international subsea cable systems, cable landing stations, and scalable data centers.

For the first quarter of 2026, Converge registered P 3.02 billion in net income. Its EBITDA grew by 3.3% to P 6.9 billion , with an EBITDA margin of 61.8 %, and Return on Invested Capital (ROIC) standing at 15.6% by the end of the period.

“Despite geopolitical turmoil affecting the local economy and its growth prospects, we are able to insulate much of our operations from these. Our financial performance in the first quarter remains steady and we assure our subscribers — now at 3 million — that we hear them, and we’re improving resolution of our network challenges,” said Converge President and Co-Founder Maria Grace Uy. 

Total cash capex for the first quarter of 2026 amounted to P 2.9 billion. The company maintains its capex guidance range at P 18 billion to P23 billion as reported at the start of the year.

“Our capex would mainly be used for the continued expansion and reinforcement of our network to continuously deliver reliable services, and at the same time, to prepare us for future demand. As we anticipate growth for both our consumer and enterprise segments, we want to keep our infrastructure resilient to support evolving customer needs and deliver more digital services,” said Converge Chief Finance Officer Robert Yu.

In April, Converge again took home the majority of the Ookla broadband performance awards, specifically the titles of Fastest Fixed Network, Best Fixed Network, Best Video Experience, and the Lowest Latency in the second half of 2025, marking its leadership in broadband in the country for three straight years. 

“While challenges remain, we’re seeing steady improvement in outage frequency and repair speeds. The number of subscribers impacted by network trouble has also been coming down. Response and handling times of our customer support teams are likewise improving. We’re investing in network upgrades and proactive maintenance, so you can expect us to keep improving on these metrics,” noted Benjamin Azada, Converge Chief Operations Officer.