Todd. Thanks,
Now let's review and we're how the future. about the business thinking building for
XX. Slide If you to turn
mentioned, Todd as week. are and completed already anyway, of the aware probably Outdoor last sale of As just we you many Strong
Firefly in of exchange Outdoor's year our If for of digital of Firefly. ad transition a to for you business In them sale The transaction equity to recall, an completes in we business transaction this all did a stake short, transaction win-win. an Strong in position. remaining increased exchange equity in advertising is the last current May with
financial to going drive perfect part grow should this has nationwide second, forward. their as it and a which we're value performance consolidated the improve First, partner, platform business network. combining with our of And
Ventures When and performance Firefly's strengthens As of PIH $X both portfolio co-investing current million, investments are in and largest our we and participate totaling one carrying with this upside. our which and marketable with future securities liquid investments investment Google with in Itasca, NFX, Firefly's combined approximately and and balances shareholders will values considerably.
So go-forward let's take X operating at our businesses. a now look
couple geographically large Turning enterprise years, Convergent of signage digital be sustained strong those proven signage is and been to recurring increase past and attractive revenue. other especially with organizations, in cost-effective high-margin other has many level, retail, the a Slide generating proven to -- has assets XX. that over there's Convergent solution larger areas. has of At use macro contributor the banks a a a in retailers, to been to banking manage. dispersed very
of name in installed brand base customers points stable home the over a base. large now have in sectors, retail banking end improvement, and the XX,XXX with We telecom,
Our economic customers uncertain times such also strong in in excellent as have which general point is a credits, these.
gross has continuing XX. significantly. are percentage as our installed services base, improving as to the overall steadily the margins as model. profitability overall We sales. see of offering higher happening. to this to things becomes DSaaS our with higher improve and base, Slide seeing installed revenues Turning profile grow Convergent's been a business also reposition focus growing X We're DSaaS financial recurring We're and recurring we our on we're
and and So now margins. as add a about from foundation can here, go we we've think higher incremental built solid we where we scale
the than on average. current margins media that higher New the base of players add carry top incremental we installed
the as business. and carry This from and benefit margins much infrastructure lower installs variable a New result. scalable is highly higher incremental current investments costs a much
to if Slide XX. Now turn you
had obviously X to would Entertainment a here. point Strong expected, quarter, but things out Our tough as business be
the the end other weeks. East August. First, in in U.S. AMC, announced expect reopening. opened theaters in exhibitors of cities the few Europe they all next example, most AMC, plan be by they Cinemark, in large and and be in exhibitors Marcus opening process that most months, the to essentially Regal, are announced for also of to have coming Middle the
second So And demand we're the to want we're here. currently of encouraged from seeing underway, services. that territory reopenings second increased the get myself, should don't ahead are With quarter. I our we cautiously in much for look but different half uncharted
outsource quickly. seek to we're be the of We post their can service exhibitors keep believe appetite -- in low. versus that as closely that the increasing U.S. in-source fixed outsourced dynamic costs exhibitors mobilize industry interesting for amount the keep We an support. Another work COVID to technical their is will watching operating
expertise for them. have an offer the and economic We attractive option
expect of type opportunities. upgrade to These In upgrading cycles addition, projection digital to continue. additional begins return laser and trend the of we create the other to sector normal, as service to
talk for to as minute over the as back the Turning a important quarter about We longer-term XX. to to from to just want opportunities is we on the understand for the our -- which international particularly and Slide refocus business. step growth screen current opportunity take well, aperture the
We in have less North established than a America share are here. approximately share. In the U.S. China, firmly we X% have market XX% obviously and market and
ban, small selling Saudi market. We In Europe, started a we as sales help already Arabia commercial increasing have ready started In cinema to a that East, other plant into market will restrictions our beachhead screens recently penetrate have and allow, and us also go and a have share travel soon market. repealed the there. as already presence finishing better our relatively be XX-year to Middle which the we've
with entertainment both great a and in business have America North we screens So services.
share to and U.S. expect share service the internationally. our screen our We grow in
COVID. resilient businesses job in and look business million our $XX difficult back Slide to you two a Cinemas need XX the XXXX, through a growth maximizing which proven they this done going at good performance If pre EBITDA and We've combined is long-term starting. on was financial see they'll forward, had has And opportunities. you'll obviously of operating be will has support, come already period. this and Convergent's that
reopens. has valuation in we're the several as we impacted company other positioned operate past impacted, believe along companies public our industries, the while been that small well over months So world with most
provides growth on here we Sitting foundation squarely Slide create a expense post On difficult and solid and as is operational solid balance focus XX. value. long-term a controls for execution well-established brands, Our COVID That driving to times these. sheet. tight have such today,
their customers we're in are reopen, of our services every outlook entertainment is from as and QX day our improving signs with screen cinemas as seeing near-term business recovery are levels. reengaging orders increasing Our
to China finishing expect recurring to and open soon, We revenue strong DSaaS our margins. Convergent our should plant drive and model in continue
turn. through We and on also operating remain focused the expenses cash managing flow
in share growth sector. longer bit a term, entertainment focused capturing out international services Looking share business screen to business in long-term the market market and in the our converting sustain momentum on near-term U.S. we're and our
grow base greater consider targeted scale organically, We continue EBITDA Convergent's load network also the could and achieve faster. to acquisitions to and expect installed we growth of to and economies
there's opportunity longer-term portfolio. Finally, considerable investment in a our
for We up have upside in and prospects positions that, questions. the call Firefly. liquid for open relatively With and longer-term we'll Itasca now PIH
