Converge ICT Solutions, Inc. reported an 18.3 percent surge in net income for the first quarter of 2025, signaling strong momentum across both its residential and enterprise segments. The company posted a net profit of ₱3 billion, up from ₱2.6 billion in the same period last year, on the back of solid subscriber growth and increased enterprise demand.
Consolidated revenue climbed 13.2 percent year-on-year to ₱10.8 billion, reinforcing Converge’s standing as one of the country’s fastest-growing fixed broadband providers. CEO and founder Dennis Anthony Uy said the company is targeting 14 percent to 16 percent revenue growth in 2025, citing continued customer uptake and market expansion. “We hit the ground running this year and are confident to sustain gains from 2024,” Uy said.
The residential segment grew 11.5 percent to ₱9.1 billion, with total subscribers reaching 2.7 million by the end of March — including 2.34 million postpaid and 361,128 prepaid users. Notable growth was seen in products like BIDA Fiber and Surf2Sawa, which added over 94,000 new subscribers combined.
On the enterprise front, revenue jumped 22.9 percent to ₱1.7 billion, led by strong growth across all subsegments. The wholesale business, or those that Converge sells to small service providers, surged 54 percent, driven by new client acquisitions and service innovations.
Converge also continues to invest heavily in network infrastructure, spending ₱2.6 billion in Q1 on expansion and redundancy. This included the deployment of 35,000 new fiber ports and 60 kilometers of new backbone, as part of an aggressive ₱20–₱25 billion capex program for the year.
In a significant move to extend coverage to underserved regions, Converge has partnered with SpaceX’s Starlink, becoming an authorized satellite broadband reseller in the Philippines. Uy said the bundled satellite-fiber solution will target government agencies and industries in remote areas such as agriculture, retail, fisheries, and maritime sectors.
“This partnership is about transforming how industries operate,” said Uy. “We’re delivering resilient, end-to-end connectivity even in the country’s most remote areas.”
Further bolstering its tech edge, Converge is expanding its collaboration with Nasdaq-listed Ribbon Communications, integrating AI-enabled 5nm 140Gbaud transmission chipsets across its nationwide network. Initially deployed in Luzon, the rollout will now extend countrywide, increasing data capacity to 1.2 Tbps and enhancing operational efficiency.
These strategic partnerships and infrastructure investments position Converge to capitalize on rising broadband demand while future-proofing its network for next-generation data services.
