Converge ICT Solutions Inc. reported P11.2 billion in revenue in the first quarter of 2026 as its subscriber base grew past the three-million mark, driven by strong demand for prepaid fiber internet.
The company said total subscribers reached 3.09 million as of end-March, up 14% from a year earlier. Its Surf2Sawa prepaid fiber service grew 86.7% year-on-year to 674,000 customers.
Converge posted net income of P3.02 billion for the quarter, while EBITDA rose 3.3% to P6.9 billion. EBITDA margin stood at 61.8%, with return on invested capital at 15.6%.
Its enterprise business also maintained growth, with revenue rising 16% to P2 billion.
Converge co-founder and CEO Dennis Anthony Uy said the company is expanding its fiber footprint, particularly in the Visayas and Mindanao, to reach more customers and support cloud and data-heavy services for enterprises.
The company said it recently completed its national digital infrastructure platform, which includes its fiber backbone and satellite network, international subsea cable systems, cable landing stations, and scalable data centers.
Converge spent P2.9 billion in cash capital expenditures in the first quarter and kept its full-year capex guidance at P18 billion to P23 billion. CFO Robert Yu said the spending would go mainly to network expansion and reinforcement to support future demand.
President and co-founder Maria Grace Uy said the company’s performance remained steady despite geopolitical uncertainty affecting the economy. She said Converge is also working to improve the resolution of network issues for its more than three million subscribers.
Converge said it has more than 896,000 kilometers of fiber optic assets nationwide, making it one of the most extensive fiber networks in the Philippines.
Business News Asia
