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SANG

Sangoma Technologies Corporation

SANG

Sangoma Technologies Corporation • NASDAQ
$5.11 ▲ 0.29% (+0.01)
Market Cap $170.95 M
52w High $7.99
52w Low $4.08
Dividend Yield 0%
P/E -31.94
Volume 77
Outstanding Shares 33.45M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $59.113M $41.296M $-1.881M -3.182% $-0.06 ▼ $10.328M
Q4-2025 $59.113M ▲ $41.296M ▲ $-1.881M ▼ -3.182% ▼ $0.006 ▲ $10.328M ▼
Q3-2025 $58.067M ▼ $40.605M ▼ $-1.428M ▲ -2.459% ▲ $-0.043 ▲ $10.625M ▲
Q2-2025 $60.15M $42.056M $-1.91M -3.175% $-0.056 ▲ $10.512M
Q1-2025 $60.15M $42.056M $-1.91M -3.175% $-0.058 $10.512M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $17.065M $373.682M $116.375M $257.307M
Q4-2025 $17.065M ▲ $373.682M ▲ $116.375M ▲ $257.307M ▲
Q3-2025 $16.668M ▼ $361.435M ▼ $106.178M ▼ $255.257M ▼
Q2-2025 $16.749M ▲ $387.725M ▼ $129.501M ▼ $258.224M ▼
Q1-2025 $16.231M $400.645M $140.915M $259.73M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $-1.881M $11.913M $-2.127M $-9.47M $316K $9.786M
Q4-2025 $-1.881M ▲ $11.913M ▼ $-2.127M ▼ $-9.47M ▲ $316K ▼ $9.786M ▼
Q3-2025 $-1.91M $12.127M $-2.115M $-9.494M $518K $10.012M
Q2-2025 $-1.91M ▼ $12.127M ▲ $-2.115M ▲ $-9.494M ▲ $518K ▲ $10.012M ▲
Q1-2025 $-1.708M $11.703M $-3.398M $-10.463M $-2.158M $8.305M

Five-Year Company Overview

Income Statement

Income Statement Revenue has leveled off in recent years after an earlier growth spurt, suggesting the business has reached a more mature, steady phase rather than a rapid expansion stage. Profitability is mixed: gross margins look solid for a software‑driven model, but operating results hover around break‑even, and the company is still reporting small net losses. The good news is that these losses have narrowed meaningfully since a particularly weak year a few years ago, which points to better cost control and a more disciplined focus on higher‑margin, recurring revenue. Overall, the income statement shows a business with healthy underlying economics that is still working through the final steps of turning those into consistent bottom‑line profits.

Balance Sheet

Balance Sheet The balance sheet shows a company that remains equity‑funded at its core, with debt levels that are meaningful but not extreme relative to its size. Total assets have drifted down somewhat from prior years, reflecting a more streamlined footprint and possibly past write‑downs or divestitures. Equity has also eroded from earlier highs, consistent with cumulative losses and the business transition, but it still comfortably exceeds debt, which provides a cushion. Cash is modest rather than abundant, so there is some dependence on ongoing cash generation, but there is no obvious sign of an over‑stretched balance sheet. Financially, Sangoma appears stable but not flush, with room to operate but limited margin for prolonged missteps.

Cash Flow

Cash Flow Cash flow is a relative strength. The company has consistently generated positive cash from its operations, and this has gradually improved over time even while accounting profits remained negative. Investment needs are modest, so free cash flow has been positive for several years in a row. In plain terms, the business is bringing in enough cash from its customers to fund its own development and capital spending, without heavy dependence on outside financing. This helps offset concerns raised by the net losses and suggests that non‑cash items and past restructuring are playing a role in the reported earnings picture.

Competitive Edge

Competitive Edge Sangoma competes in a crowded communications and cloud software market, but it has carved out a defensible niche. Its deep roots in open‑source projects like Asterisk and FreePBX give it a unique community, talent pipeline, and technology base that many rivals lack. The company’s “all‑in‑one” approach—combining unified communications, contact center tools, and developer platforms—offers customers a single vendor for many needs, which can reduce complexity and switching. Its focus on small and mid‑sized businesses, with value‑oriented pricing and integrated hardware plus software, also differentiates it from large enterprise‑focused competitors. The flip side is that it still faces intense competition from bigger, better‑capitalized players in UCaaS and collaboration, so maintaining low customer churn and continuing to move up the value chain will be critical to preserving this competitive edge.

Innovation and R&D

Innovation and R&D Innovation is a clear pillar of Sangoma’s strategy. The company continues to build on its open‑source foundation with hybrid cloud offerings that blend on‑premise reliability with cloud flexibility, which can be especially appealing for customers who cannot tolerate downtime. It has also been layering on more advanced capabilities, particularly through its GenAI initiative: smarter call routing, automated transcription and summarization, sentiment analysis, and AI assistance for contact center agents. On top of that, Sangoma is tailoring solutions for specific industries like hospitality and healthcare, partnering with device makers and software providers to embed its communications tools into real workflows. The key question going forward is execution—whether the company can scale these AI and vertical solutions fast enough, and differentiate them clearly enough, in a market where many competitors are also racing to add AI features.

Summary

Taken together, Sangoma looks like a communications software company that has largely completed a shift toward recurring, cloud‑based revenue but is still in the final stages of cleaning up its financial profile. Revenues have stabilized rather than surged, but margins and cash generation are improving, and the business now reliably produces cash even as reported earnings remain slightly negative. The balance sheet is sound, not stretched, though past losses have chipped away at book value. Strategically, the firm’s open‑source heritage, integrated hardware‑plus‑software approach, and focus on SMBs give it a distinctive position, while its AI initiatives and industry‑specific solutions offer potential growth levers. The main things to watch are whether it can return to consistent profitability, keep debt and cash levels comfortable, and convert its innovation pipeline—especially GenAI and vertical offerings—into durable, higher‑margin growth in a very competitive landscape.

NEWS

November 24, 2025 · 7:00 AM UTC

Dowling Catholic High School Improves Campus Safety and Communication with Sangoma and Quicklert

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November 10, 2025 · 5:00 PM UTC

Sangoma Announces First Quarter Fiscal 2026 Results

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October 30, 2025 · 7:30 PM UTC

Sangoma Announces Date of First Quarter Fiscal 2026 Financial Results and Conference Call

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October 14, 2025 · 8:00 AM UTC

Sangoma Named in the 2025 Gartner® Magic Quadrant™ for Unified Communications as a Service Report for Eleventh Year

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October 9, 2025 · 8:00 AM UTC

Sangoma to Present at the Planet MicroCap Showcase: Toronto October 22-23, 2025

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