The following is a summary of the Converge Technology Solutions Corp. (CTSDF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 2024 financial results were affected by lower demand in North America, leading to results below guidance.

• Adjusted EBITDA for the quarter was $32.1 million.

• Cash from operating activities was reported at $48.9 million for the quarter, with a 152% conversion from adjusted EBITDA.

• Gross sales for Q3 were approximately $945 million, down 8.9% year-over-year.

Business Progress:

• Strategic areas, including AI, Cloud, and Cyber, grew double digits despite overall lower demand.

• Converge continues to focus on its AIM strategy (Advise, Implement, Manage) across practice areas.

• A major milestone was achieved with the successful implementation of a new ERP system.

Opportunities:

• Continued growth in strategic areas such as AI, Cloud, and Cybersecurity indicates potential for market differentiation and long-term organic growth.

Risks:

• Lower demand in North America impacted financial results, indicating potential risks from macroeconomic conditions.

• Project spending delays due to uncertain market conditions lead to cautious customer investment, particularly affecting data center and device business areas.

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