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Last update at 2024-12-19T17:40:00Z
Converge Provides Q4-2023 Cash Flow Update
Mon 29 Jan 24, 10:15 PMReturns On Capital At Converge Technology Solutions (TSE:CTS) Paint A Concerning Picture
Sun 21 Jan 24, 12:21 PMWendy Bahr Joins Converge Technology Solutions Corp. Board of Directors
Tue 05 Dec 23, 01:00 PMStone Group, A Converge Company, Achieves Dell Technologies Titanium Partner Status
Tue 21 Nov 23, 02:00 PMConverge Reports Third Quarter 2023 Results
Tue 14 Nov 23, 12:00 PM| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | 18.79M | 23.97M | -2.50100M | -12.75700M | -15.58800M |
| Minority interest | -4.43900M | -0.42000M | - | - | - |
| Net income | 22.84M | 15.95M | -4.17500M | -10.84000M | -18.23600M |
| Selling general administrative | 421.94M | 259.49M | 181.41M | 134.87M | 74.45M |
| Selling and marketing expenses | 0.24M | 0.34M | 0.42M | 2.08M | 1.20M |
| Gross profit | 550.77M | 345.70M | 233.01M | 161.59M | 89.97M |
| Reconciled depreciation | 80.06M | 39.59M | 27.05M | 17.89M | 6.96M |
| Ebit | 70.99M | 48.11M | 24.41M | 17.87M | 1.99M |
| Ebitda | 151.06M | 87.69M | 51.46M | 35.76M | 8.95M |
| Depreciation and amortization | 80.06M | 39.59M | 27.05M | 17.89M | 6.96M |
| Non operating income net other | - | - | - | - | - |
| Operating income | 70.99M | 48.11M | 24.41M | 17.87M | 1.99M |
| Other operating expenses | 2110.69M | 1477.76M | 919.08M | 676.22M | 449.98M |
| Interest expense | 19.86M | 7.80M | 19.67M | 30.63M | 7.55M |
| Tax provision | -4.05900M | 7.61M | 1.67M | -1.91700M | 2.65M |
| Interest income | 0.28M | 7.80M | 19.67M | 16.03M | 7.55M |
| Net interest income | -23.20200M | -9.15100M | -23.36400M | -16.02600M | -7.54900M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | -4.05900M | 7.61M | 1.67M | -1.91700M | 2.65M |
| Total revenue | 2164.65M | 1527.84M | 948.80M | 687.80M | 459.19M |
| Total operating expenses | 496.81M | 295.62M | 203.29M | 150.01M | 80.75M |
| Cost of revenue | 1613.88M | 1182.14M | 715.79M | 526.21M | 369.22M |
| Total other income expense net | -52.20800M | -24.13200M | -26.91500M | -30.62800M | -17.57900M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 22.84M | 16.37M | -4.17500M | -10.84000M | -18.23600M |
| Net income applicable to common shares | 27.28M | 15.95M | -4.17500M | -10.84000M | -18.23600M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 2153.36M | 2248.88M | 1368.84M | 720.62M | 488.88M |
| Intangible assets | 375.18M | 463.75M | 233.59M | 108.92M | 92.05M |
| Earning assets | - | - | - | - | - |
| Other current assets | 26.53M | 28.28M | 11.76M | 10.38M | 23.08M |
| Total liab | 1541.21M | 1618.07M | 720.01M | 618.87M | 498.76M |
| Total stockholder equity | 586.20M | 599.91M | 613.49M | 101.75M | -9.87700M |
| Deferred long term liab | - | - | - | - | - |
| Other current liab | 46.45M | 131.04M | 43.38M | 22.89M | 36.39M |
| Common stock | 599.43M | 595.02M | 633.49M | 135.35M | 20.61M |
| Capital stock | 599.43M | 595.02M | 633.49M | 135.35M | 20.61M |
| Retained earnings | -28.16700M | -18.44100M | -25.05000M | -39.27700M | -37.88100M |
| Other liab | - | 142.32M | 117.43M | 33.40M | 26.08M |
| Good will | 564.77M | 563.85M | 323.28M | 110.07M | 80.27M |
| Other assets | - | 4.65M | 0.62M | 0.00100M | 1.95M |
| Cash | 170.42M | 159.89M | 248.19M | 64.77M | 20.59M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 1038.36M | 1437.91M | 591.22M | 571.55M | 445.21M |
| Current deferred revenue | 59.33M | 60.21M | 27.58M | 17.38M | 9.74M |
| Net debt | 262.87M | 261.84M | -246.96500M | 74.40M | 144.85M |
| Short term debt | 18.59M | 421.73M | 0.82M | 133.28M | 150.87M |
| Short long term debt | 1.66M | 421.73M | 0.82M | 133.28M | 150.87M |
| Short long term debt total | 433.29M | 421.73M | 1.23M | 139.16M | 165.44M |
| Other stockholder equity | 10.97M | 9.62M | 4.72M | 4.85M | 7.32M |
| Property plant equipment | - | 88.35M | 30.64M | 23.56M | 27.43M |
| Total current assets | 1084.34M | 1128.28M | 780.71M | 477.32M | 287.18M |
| Long term investments | - | - | - | - | - |
| Net tangible assets | - | -427.68900M | 56.62M | -117.24700M | -182.19500M |
| Short term investments | - | - | - | - | - |
| Net receivables | 814.23M | 781.68M | 416.50M | 364.31M | 220.14M |
| Long term debt | 378.01M | 0.00000M | 0.41M | 5.88M | 14.57M |
| Inventory | 73.17M | 158.43M | 104.25M | 37.87M | 23.38M |
| Accounts payable | 913.99M | 824.92M | 519.43M | 398.00M | 248.22M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | 3.96M | 13.71M | 0.33M | 0.82M | 0.07M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | - | - | - |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | - | - | - | - |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 53.58M | 4.65M | 0.62M | 0.75M | 1.95M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 1069.02M | 1120.60M | 588.13M | 243.30M | 201.70M |
| Capital lease obligations | - | - | - | - | - |
| Long term debt total | - | 37.84M | 11.36M | 13.92M | 27.46M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -463.42600M | -277.80200M | -66.59200M | -66.76800M | -33.66200M |
| Change to liabilities | 30.73M | 31.18M | 131.15M | 44.85M | 83.64M |
| Total cashflows from investing activities | -463.42600M | -277.80200M | -66.59200M | -62.85100M | -43.06100M |
| Net borrowings | 392.11M | -149.95700M | -36.19300M | 63.72M | 43.08M |
| Total cash from financing activities | 336.31M | 371.38M | 58.54M | 52.41M | 35.60M |
| Change to operating activities | 0.50M | 0.99M | 5.89M | -12.43000M | -5.67400M |
| Net income | 22.84M | 16.37M | -4.17500M | -10.84000M | -18.23600M |
| Change in cash | -88.30300M | 183.43M | 44.18M | 10.11M | 2.70M |
| Begin period cash flow | 248.19M | 64.77M | 20.59M | 10.48M | 7.79M |
| End period cash flow | 159.89M | 248.19M | 64.77M | 20.59M | 10.48M |
| Total cash from operating activities | 41.59M | 87.06M | 51.60M | 26.81M | 1.07M |
| Issuance of capital stock | 0.00000M | 493.88M | 103.60M | 2.34M | 12.23M |
| Depreciation | 80.06M | 39.59M | 27.05M | 17.89M | 6.96M |
| Other cashflows from investing activities | -439.48400M | -271.49200M | -61.60100M | -3.83700M | -6.50000M |
| Dividends paid | 1.08M | 1.08M | 1117.37M | 1.08M | 0.00000M |
| Change to inventory | 38.15M | -56.54500M | -10.89000M | -7.73300M | -1.22900M |
| Change to account receivables | -125.83800M | 37.05M | -114.00000M | -32.76400M | -82.03300M |
| Sale purchase of stock | -40.00000M | 493.88M | -2.12500M | 2.34M | 12.23M |
| Other cashflows from financing activities | 389.92M | 27.46M | 1125.48M | 879.87M | 247.90M |
| Change to netincome | 11.41M | 23.90M | 22.47M | 15.41M | 17.64M |
| Capital expenditures | 23.94M | 6.31M | 4.99M | 1.80M | 2.28M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | - | - | - | - |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | - | - |
| Change in working capital | -77.17000M | 7.63M | 6.26M | 4.36M | -4.60500M |
| Stock based compensation | 5.59M | 2.33M | - | - | - |
| Other non cash items | 14.31M | 13.55M | 20.80M | 17.32M | 14.30M |
| Free cash flow | 17.64M | 80.75M | 46.61M | 25.01M | -1.20800M |
Sector: Technology Industry: Information Technology Services
| Company | Change (CAD) | Price (CAD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| CTS Converge Technology Solutions Corp |
0.04 1.07% | 3.31 | - | 5.82 | 0.24 | 1.67 | 0.30 | 6.82 |
| ALYA Alithya Group inc Class A |
-0.04 2.38% | 1.64 | - | 40.00 | 0.32 | 0.88 | 0.54 | 10.20 |
Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions in the United States and Canada. Its solutions approach delivers advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. The company also offers managed and talent services, and hardware and software products and solutions. Converge Technology Solutions Corp. was incorporated in 2016 and is headquartered in Toronto, Canada.
161 Bay Street, Toronto, ON, Canada, M5J 2T6
| Name | Title | Year Born |
|---|---|---|
| Mr. Shaun Peter Maine | CEO & Director | NA |
| Mr. Greg Berard | Pres & North American CEO | NA |
| Mr. Cory Reid | COO & Chief Information Officer | NA |
| Ms. Julianne Belaga | Chief Legal Officer | NA |
| Mr. Richard A. Lecoutre | Global Chief Financial Officer | NA |
| Mr. Don Cuthbertson | CTO & Pres of Canada | NA |
| Ms. Karie Timion | VP of Marketing | NA |
| Ms. Rhonda Hanes | VP of People Operations | NA |
| Mr. Tommy Whatley | Exec. VP of Services & Vendor Alliances | NA |
| Ms. Cari Hash | Sr. VP of Enterprise Sales | NA |
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