CA - Converge Technology Solutions reports FY results

• Converge Technology Solutions press release ( OTCQX:CTSDF ): FY
• Revenue of $2.5B (+66.7% Y/Y).
• Gross Profit for the full year of $548.1 million to $553.1 million compared to $345.7 million in FY21; an increase of 59%
• Adjusted EBITDA of $140.6 million to $144.0 million compared to $94.0 million in FY21; an increase of 51%
• Cash on hand was $159.8 million at the end of 2022, and borrowings under the Company's global revolving credit facility (the "Global Credit Facility") was approximately $420.0 million
• Bookings backlog increased to approximately $555.7 million at the end of Q4-2022, comprised of $479.4 million in product related backlog and $76.3 million in services related backlog. This represents growth of over $52 million compared to total bookings backlog in Q3 2022 and is indicative of the impact of ongoing supply chain challenges.

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