Leading fiber broadband and technology provider Converge ICT Solutions Inc. (PSE: CNVRG) reported sustained growth in the first quarter of 2026, with total revenues reaching ₱11.2 billion. The company also surpassed a major milestone, as its subscriber base rose 14% year-on-year (YoY) to 3.09 million, driven by a sharp increase in prepaid fiber internet users.
Strong Subscriber Growth Led by Prepaid Fiber
As of end-March 2026, Converge’s total subscriber base stood at 3.09 million, with prepaid fiber service Surf2Sawa (S2S) emerging as a key growth engine. The S2S subscriber base skyrocketed 86.7% YoY to 674,000 customers, reflecting strong demand for flexible, accessible connectivity options.
“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 benefit from the completion of our national digital infrastructure, which sets the stage for delivering cloud and data-heavy services.”
Enterprise Business and Infrastructure Expansion
Converge’s Enterprise segment maintained its strong momentum, with revenues growing 16% YoY to ₱2 billion in the first quarter. This growth is supported by the recent completion of the company’s future-ready national digital infrastructure—a comprehensive ecosystem that includes an extensive fiber backbone, satellite network, international subsea cable systems, cable landing stations, and scalable data centers. The infrastructure is designed to accelerate the delivery of cutting-edge technologies and solidify the Philippines’ position as a vital node in the global digital economy.
Solid Financial Performance
For the first quarter of 2026, Converge reported a net income of ₱3.02 billion. Its EBITDA rose 3.3% to ₱6.9 billion, with an EBITDA margin of 61.8%, while Return on Invested Capital (ROIC) reached 15.6% by the end of the period.
“Despite geopolitical turmoil affecting the local economy, we have been able to insulate much of our operations from these challenges,” said Converge President and Co-Founder Maria Grace Uy. “Our financial performance in the first quarter remains steady, and we assure our subscribers—now over 3 million strong—that we are actively improving our response to network issues.”
The company’s total cash capital expenditure (capex) for the first quarter amounted to ₱2.9 billion. Converge maintains its full-year capex guidance at ₱18 billion to ₱23 billion, as announced earlier this year.
“Our capex will primarily fund the continued expansion and reinforcement of our network to deliver reliable services and prepare for future demand,” explained Converge Chief Finance Officer Robert Yu. “As we anticipate growth in both consumer and enterprise segments, we are focused on building resilient infrastructure to support evolving customer needs and deliver more digital services.”
Continued Leadership in Broadband Performance
In April 2026, Converge once again secured the majority of Ookla’s broadband performance awards for the second half of 2025, including Fastest Fixed Network, Best Fixed Network, Best Video Experience, and Lowest Latency. This marks the third consecutive year that Converge has led the country’s broadband performance rankings.
“While challenges remain, we are seeing steady improvements in outage frequency and repair speeds,” noted Converge Chief Operations Officer Benjamin Azada. “The number of subscribers affected by network issues has declined, and our customer support response and handling times are also improving. We are investing in network upgrades and proactive maintenance to ensure these metrics continue to get better.”
