Converge ICT Solutions’ 9M 2026 results show revenue up 3.9% to ₱34.2 billion, yet almost all of that gain came from corporate clients while its 3.1 million home subscribers paid less and profit fell 9%.
Key Takeaways
- Converge booked ₱34.2 billion in revenue for January to September 2026, up 3.9% from ₱33 billion a year earlier.
- Enterprise revenue rose 22% to ₱6.4 billion, adding roughly the same ₱1.2 billion as the whole group’s increase.
- Home revenue edged up only 0.5% to ₱27.9 billion even as subscribers grew 6%, because each household now pays less on average.
- Net income dropped 9% to ₱8.1 billion, a decline the company’s press release does not mention.
Converge, the Pampanga-based provider behind FiberX and Surf2Sawa, posted consolidated revenue of ₱34.2 billion for the first nine months of 2026, based on its Friday filing with the Philippine Stock Exchange.
That 3.9% growth is a sharp slowdown. In the same period of 2025, revenue climbed 14% and the residential business alone grew 9.1%.
Enterprise revenue reached ₱6.4 billion, up 22%. Converge says its large corporate subsegment grew 29.3% and its small and medium enterprise (SME) unit grew 15.4%.
EBITDA, or earnings before interest, taxes, depreciation and amortization, came in at ₱19.9 billion for a 58% margin. Net income reached ₱8.1 billion.
Why Converge 9M 2026 results point to a business-first fiber company
Here is the number the release skips. Converge earned ₱8.9 billion in the first nine months of 2025, so the ₱8.1 billion figure is a 9% drop, as Insider PH reported from the same filing.
The home side explains much of it. Converge ended September with about 3.1 million residential subscribers, 6% more than a year ago, but average monthly revenue per subscriber slid by the same rate to ₱1,002 in the third quarter, according to Insider PH.
More homes paying less per month left residential revenue nearly flat at ₱27.9 billion, compared with ₱27.7 billion a year earlier.
Enterprise did the heavy lifting. The segment grew from ₱5.2 billion to ₱6.4 billion, which roughly matches the ₱1.2 billion the whole company added. Businesses now account for close to a fifth of Converge’s revenue.
Margins are also thinner. Converge posted a 61.8% EBITDA margin in the first quarter of 2026, according to Daily Tribune, so the nine-month 58% implies weaker margins in the second and third quarters.
A crowded home fiber market
Converge is not the only one hitting a ceiling at home. Globe’s home broadband revenue stayed broadly flat at ₱17.8 billion in the first nine months of 2025, as fixed wireless users shrank and others moved to fiber, based on Globe’s own results.
PLDT’s home business is larger. It posted ₱44.5 billion in home revenue for the same 2025 period, up 7%, according to Insider PH.
Cheaper prepaid fiber is part of the story. Globe’s GFiber Prepaid passed 700,000 subscribers by late 2025, while Converge’s own prepaid brand Surf2Sawa crossed half a million, according to the companies. Prepaid plans bring in new homes but tend to pull down the average bill.
How Converge plans to sell more to businesses
The company’s pitch to corporate buyers rests on infrastructure. Converge says it runs nearly 8.8 million fiber ports nationwide and recently brought two international subsea cables online.
Bifrost is a trans-Pacific cable linking Singapore, Indonesia, the Philippines, Guam and the US West Coast, developed by a consortium that includes Meta, Keppel and Telin. Converge operates its Davao landing station.
SEA-H2X connects the Philippines to Hong Kong, Hainan, Thailand and Singapore, with China Mobile International and China Unicom Global as partners. China Mobile confirmed in July 2026 that the cable entered commercial operation about two years behind schedule, according to Light Reading.
International capacity matters most to wholesale buyers such as foreign carriers and data center operators. Converge says it won deals this year with international carriers, global tech firms, hotels and local government units, but it did not name any of them.
The company is also expanding its data center in Angeles, Pampanga, which received government fast-track approval, according to Insider PH.
The people behind it
Converge was co-founded by husband-and-wife team Dennis Anthony Uy, now CEO, and Grace Uy, now president. The company grew from a provincial cable operator into one of the country’s main fiber providers.
On governance, Converge received the Institute of Corporate Directors’ Five Golden Arrow rating for a second straight year and an ISO/IEC 27001:2022 certification for information security.
What Converge still has to prove
The company must now show that enterprise gains can keep offsetting a home business where subscriber growth no longer lifts revenue.
Converge says its 58% margin sits comfortably within full-year guidance, but the release does not state what that guidance is. The enterprise wins are also unnamed, and the nine-month figures are company-reported and unaudited.
For a company built on wiring Filipino homes, the 9M 2026 numbers mark a quiet shift. Households still pay most of the bills, but businesses now decide whether Converge grows.
FAQ
How much did Converge earn in 2026? Converge reported ₱8.1 billion in net income for January to September 2026 on revenue of ₱34.2 billion. Revenue rose 3.9%, while net income fell 9% from ₱8.9 billion a year earlier.
Why did Converge profit drop? Service costs grew faster than sales, and average monthly revenue per home subscriber fell 6% to ₱1,002 in the third quarter. That kept home revenue almost flat while costs rose.
Is Converge still growing subscribers? Yes. Converge ended September 2026 with about 3.1 million residential subscribers, around 6% more than a year earlier. Each subscriber is paying less on average.
What are the Bifrost and SEA-H2X cables? They are international subsea cables that connect the Philippines to the US, Singapore, Hong Kong and other Asian markets. Converge says both are now online, giving it more international bandwidth to sell to businesses and carriers.
