)
Visual
test
Converge Solutions
Converge Solutions (CTS) investor relations material
Converge Solutions has been delisted
Converge Solutions Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2024 earnings summary6 Mar, 2025
Executive summary
Q4 2024 gross sales rose 2.5% year-over-year to $1.11 billion; revenue up 4.6% to $680.8 million.
Fiscal 2024 gross sales increased 2.1% to $4.12 billion, but revenue declined 4.2% to $2.59 billion.
Net loss for fiscal 2024 was $181.0 million, mainly due to a $176.1 million non-cash impairment in the Germany segment.
Adjusted EBITDA for Q4 grew 3.0% to $47.9 million; for the year, it decreased 1.7% to $167.3 million.
On February 7, 2025, Converge agreed to be acquired by H.I.G. Capital for $5.50 per share, a 56% premium to the prior closing price.
Financial highlights
Q4 gross profit fell 1.6% year-over-year to $178.6 million; gross margin was 26.2%.
Fiscal 2024 gross profit decreased 1.6% to $691.4 million; gross margin held at 26.7%.
Adjusted net income for Q4 was $45.6 million (up from $38.2 million); for the year, $130.3 million (up from $108.4 million).
Cash from operating activities in Q4 was $57.0 million, down from $114.5 million; for the year, $269.4 million, up from $229.5 million.
Returned $82.3 million to shareholders in 2024, up from $23.5 million in 2023.
Outlook and guidance
No outlook for 2025 provided due to the pending acquisition by H.I.G. Capital; regular quarterly dividend suspended during the transaction process.
Explain the drivers behind the net loss increase.
What are the key terms of the H.I.G. Capital deal?
Detail the calculation of organic growth.
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Latest summaries
- TimeTickerHeadlineOpen
- 6 FebSCW
73% revenue growth and record backlog driven by new space contracts and strategic investments. - 6 FebSCWRecord revenue, surging backlog, and major space contracts set the stage for 2025 growth.
- 6 FebSCWQ1 2025 revenue nearly doubled year-over-year, with strong backlog and major new contracts secured.
- 6 FebSCWRecord Q2 revenue, major new contracts, and a tripled backlog signal strong growth.
- 6 FebSCWRecord backlog and 89% y/y revenue growth highlight strong momentum in space projects.
- 6 FebNVDA
AI-driven virtual twins and accelerated computing are revolutionizing design and manufacturing. - 6 FebSPKSJF
Record income, strong growth, and robust capital position despite lower interest income. - 6 FebISCTR
Net profit hit TL 67.4 billion in 2025, with strong NIM, fee growth, and solid 2026 outlook. - 6 FebCDP
2025 FFO/share rose 5.8% with strong leasing and retention; 2026 guidance signals further growth. - 6 FebPENG
All proposals passed, with no questions raised during the Q&A session.
Converge Solutions
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Converge Technology Solutions Corp., distributes storage devices and systems, computer products, software, and peripherals. It offers servers, servers accessories, hard drives, tape drives and libraries, services for storage products, all flash arrays; converged infrastructure; desktop virtualization; racks and power protection; and software, such as security management solutions. Converge Technology Solutions Corp. was founded in 2016 and is headquartered in Toronto, Canada.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage