Converge Technol - CTSDF STOCK NEWS

Converge Technology Solutions (CTSDF) has been ranked #28 on CRN's 2024 Solution Provider 500 list, marking its fourth consecutive year on the list.

This is a significant rise from its initial ranking in 2020. The list recognizes North America's largest solution providers by revenue and highlights the most influential companies in the IT industry.

CRN's annual list represents a combined revenue of over $501.2 billion. Converge's CEO, Greg Berard, attributed this achievement to the dedication and hard work of the company's services and solutions teams.

The recognition underscores Converge's ability to adapt to rapid changes in the IT channel, including the expansion of 'Everything as a Service' and GenAI disruption.

The full list will be available online and in CRN Magazine's June issue.

Converge Technology Solutions Corp. reported its First Quarter 2024 Results, highlighting a third consecutive billion-dollar gross sales quarter. Key financial figures include gross sales of $1.01 billion, representing a 4.2% increase, a revenue decrease to $628.8 million, and a net loss of $3.5 million. The company's adjusted EBITDA increased to $42.2 million, and cash from operating activities rose to $110.9 million. Converge reduced its net debt significantly year-over-year. The Board declared a quarterly dividend of $0.015 per common share. Financial outlook for Q2 2024 includes expected gross profit of $175 million - $182 million and adjusted EBITDA of $43 million - $46 million. Conference call details for further information.

Converge Technology Solutions Corp. announces a conference call to discuss its first quarter fiscal 2024 results on May 9th, 2024. The call will be hosted by the Converge leadership team, followed by a question-and-answer period.

Converge Technology Solutions Corp. announces a strategic partnership with Forum Systems to leverage QuantumSim™, a Secure Multi-LLM Gateway, combining cutting-edge GenAI capabilities with IT expertise. The partnership aims to address complex business challenges through QS Contracts and QS Benefits modules, providing deep insights into organizational efficiency and deploying responsible GenAI at scale. The collaboration will positively impact Converge's clients across the healthcare ecosystem by standardizing benefits language and accelerating document discovery and analysis.

Converge Technology Solutions Corp. achieves Cisco Gold Provider partner status, highlighting expertise in Managed Services with designations in Cloud Calling, Cloud Managed Security, and Meraki SD-WAN. The company's global recognition by Cisco signifies advanced knowledge in key technology areas, benefiting customers with cutting-edge solutions and support.

Converge Technology Solutions Corp. has been named Broadcom Software's 2023 North America Fastest Growth Cybersecurity Partner of the Year and VMware by Broadcom's 2023 Americas Technical Enablement Partner of the Year. The awards recognize Converge's outstanding achievements, innovation, technical expertise, and customer outcomes. Converge's CEO, Greg Berard, expressed gratitude for the recognition and emphasized the strong partnership with Broadcom and VMware by Broadcom.

Converge Technology Solutions Corp. has been honored on CRN's 2024 Tech Elite 250 list for the third consecutive year. The company's commitment to top-tier certifications and specializations from leading technology vendors showcases its dedication to providing cutting-edge solutions to customers.

Converge Technology Solutions Corp. (CTSDF) has been chosen as a strategic partner by a leading global provider of software solutions, enhancing its market presence and growth opportunities.

Converge Technology Solutions Corp. reports a strong financial performance for Q4 2023 and FY 2023 with gross sales reaching $4.0 billion, marking consecutive billion-dollar quarters. The company shows growth in revenue, gross profit, adjusted EBITDA, and net income. Cash from operating activities increased significantly, and net debt decreased. The CEO highlights the company's strategic position for growth and shareholder benefit.