\nSangoma Technologies Corporation (TSX: STC; Nasdaq: SANG) (\u201cSangoma\u201d or the \u201cCompany\u201d), a trusted industry leader uniquely offering businesses a choice of on-premises, cloud-based, or hybrid Communications as a Service solutions, today announced its second quarter financial results and unaudited condensed consolidated interim financial statements for the three and six month periods ended December 31, 2025. All amounts are expressed in US dollars unless otherwise stated.<\/p>\n
\n\u201cOur second quarter results demonstrate continued progress and disciplined execution across the business,\u201d said Charles Salameh, Chief Executive Officer. \u201cWe delivered sequential revenue growth consistent with our expectations, generated strong cash flow from operations, and posted a solid bookings quarter, all while maintaining a focused approach to profitability and capital discipline.<\/p>\n
\nAs we move into the second half of Fiscal 2026, we remain focused on executing against our operating plan, strengthening our software and services mix, and supporting our customers and partners. While we continue to operate in a dynamic market environment, the consistency we are seeing in bookings, churn, and cash generation gives us confidence in our ability to deliver continued sequential progress and market optionality to scale the business.\u201d<\/p>\n
Second Quarter of Fiscal 2026 Highlights:<\/b><\/p>\n Guidance for Fiscal 2026<\/b>3<\/sup><\/p>\n \nSangoma provided guidance for Fiscal 2026 on September 17, 2025, which it reaffirmed on November 5, 2025. That guidance included total revenue in the range of $200 – $210 million, with sequential growth expected in the second quarter of Fiscal 2026, and an Adjusted EBITDA2<\/sup> margin in the range of 17%-19%, inclusive of incremental go-to-market investments to stimulate organic growth.<\/p>\n \nWith the Company achieving sequential growth in the second quarter, Sangoma is now narrowing its Fiscal 2026 guidance as follows:<\/p>\n Conference call<\/b><\/p>\n \nSangoma will host a conference call on Wednesday, February 4, 2026, at 5:30 pm ET to discuss these results. The dial-in number for the call is 1-833-752-3740 (International +1-647-846-8617). Participants are requested to dial in 5 minutes before the scheduled start time and ask to join the Sangoma Technologies call.<\/p>\n 1 <\/sup>Operating Expenses consist of sales and marketing, research and development, general and administration and amortization of intangible assets. About Sangoma Technologies Corporation<\/b><\/p>\n \nSangoma (TSX: STC; Nasdaq: SANG) is a leading business communications platform provider with solutions that include its award-winning UCaaS, CCaaS, CPaaS, and Trunking technologies. The enterprise-grade communications suite is developed in-house; available for cloud, hybrid, or on-premises setups. Additionally, Sangoma provides managed services for connectivity, network, and security. A trusted communications partner with over 40 years on the market, Sangoma has over 2.7 million UC seats across a diversified base of over 100,000 customers. Sangoma has been recognized for nine years running in the Gartner UCaaS Magic Quadrant. As the primary developer and sponsor of the open source Asterisk and FreePBX projects, Sangoma is determined to drive innovation in communication technology continuously. For more information, visit www.sangoma.com<\/a>.<\/p>\n Cautionary Statement Regarding Forward Looking Statements<\/b><\/p>\n \nThis press release contains forward-looking information and forward-looking statements (collectively, \u201cforward-looking statements\u201d), including statements regarding the Company\u2019s future financial and operating performance, business strategy, growth opportunities, market outlook, and management\u2019s expectations for fiscal 2026 and beyond.<\/p>\n \nForward-looking statements are provided for the purpose of presenting information about management\u2019s current expectations and plans relating to the future, and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking statements include, but are not limited to, statements relating to management\u2019s guidance on revenue and Adjusted EBITDA, expectations regarding demand for the Company\u2019s Products and Services, supply chain dynamics, foreign exchange impacts, cash flows, and other statements that are not historical facts. Words such as \u201cbelieve\u201d, \u201ccould\u201d, \u201cplan\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cwill\u201d, \u201cintend\u201d, \u201cmay\u201d, \u201cpotential\u201d, \u201cshould\u201d, and similar expressions are intended to identify forward-looking statements.<\/p>\n \nAlthough Sangoma believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: supply chain disruptions, cost inflation, or shipping delays, the Company\u2019s ability to execute its go-to-market strategy, including expansion of subscription and cloud services, changes in customer demand, churn, or adoption of new technologies, macroeconomic and geopolitical developments, including inflation, interest rates, recessions, political instability, conflicts, trade restrictions, sanctions, or tariffs, foreign exchange fluctuations, cybersecurity risks, evolving regulatory and compliance requirements, and data sovereignty changes, the Company\u2019s ability to attract and retain key employees, changes in technology, including the impacts of artificial intelligence, automation, or other innovations that could alter competitive dynamics; and the risks and uncertainties described in the Company\u2019s most recently filed Annual Information Form for the fiscal year ended June 30, 2025.<\/p>\n \nForward-looking statements are based on the opinions, estimates, and assumptions of management as of the date of this press release and are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions, or expectations upon which they are based will occur. Except as required by applicable securities laws, Sangoma undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.<\/p>\n \nOur guidance is based on the Company\u2019s assessment of numerous material assumptions, including but not limited to the following:<\/p>\n Operational & Supply Chain<\/i><\/p>\n Go-to-Market & Revenue<\/i><\/p>\n Market & Macroeconomic Environment<\/i><\/p>\n Customers & Ecosystem<\/i><\/p>\n Currency & Financial<\/i><\/p>\n Talent & Execution<\/i><\/p>\n Non-IFRS Measures and Reconciliation of Non-IFRS Measures<\/b><\/p>\n \nThis press release contains references to non-IFRS measures. These measures are used by management to evaluate the performance of the Company and do not have any meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other reporting issuers. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management\u2019s perspective should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. These non-IFRS measures are used to provide investors with alternative measures of our operating performance and liquidity and thus highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors and other interested parties frequently use non-IFRS measures to compare issuers. Management also uses non-IFRS measures to facilitate operating performance comparisons from period to period, the preparation of annual operating budgets and forecasts and to determine components of executive compensation. The non-IFRS measures referred to in this press release include \u201cAdjusted EBITDA\u201d and \u201cFree Cash Flow\u201d.<\/p>\n \n\u201cAdjusted EBITDA\u201d means earnings before income taxes, interest expense (net), share-based compensation, depreciation (including for right-of-use assets), amortization, restructuring and business integration costs, goodwill impairment, change in fair value of consideration payable and loss on sale divestiture of subsidiary.<\/p>\n \nThe IFRS measure most directly comparable to Adjusted EBITDA presented in our financial statements is net income (loss).<\/p>\n \nThe following table reconciles Adjusted EBITDA to net income (loss) for the periods indicated:<\/p>\n in US $000<\/b><\/p>\n<\/td>\n Three month periods ended<\/b><\/p>\n December 31<\/b><\/p>\n<\/td>\n Six month periods ended<\/b><\/p>\n December 31<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2024<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nChange<\/p>\n<\/td>\n \nChange<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2024<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nChange<\/p>\n<\/td>\n \nChange<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nNet loss<\/p>\n<\/td>\n (1,996<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n(1,881<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(115<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n6<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n (4,333<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n(3,791<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(542<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n14<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nTax recovery<\/p>\n<\/td>\n (336<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n(274<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(62<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n23<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n (862<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n(617<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(245<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n40<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nInterest expense (net)<\/p>\n<\/td>\n 476<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,105<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(629<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(57<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n 1,125<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,483<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,358<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(55<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nShare-based compensation<\/p>\n<\/td>\n 830<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,038<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(208<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(20<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n 1,359<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,766<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(407<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(23<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nDepreciation of property and equipment<\/p>\n<\/td>\n 822<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,006<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(184<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(18<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n 1,709<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,091<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(382<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(18<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nDepreciation of right-of-use assets<\/p>\n<\/td>\n 408<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n653<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(245<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(38<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n 768<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,331<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(563<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(42<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nAmortization of intangibles<\/p>\n<\/td>\n 7,992<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,199<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(207<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(3<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n 16,164<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16,397<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(233<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(1<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nRestructuring and business integration costs<\/p>\n<\/td>\n 139<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n242<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(103<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(43<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n 702<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n242<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n460<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n190<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted EBITDA<\/p>\n<\/td>\n 8,335<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,088<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,753<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(17<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n 16,632<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19,902<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,270<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(16<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nAEBITDA as a % of revenue<\/p>\n<\/td>\n 16<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n17<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n 16<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n17<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n“Free Cash Flow” means cash provided by operating activities less cash used for purchases of property and equipment and capitalized development costs.<\/p>\n \nThe IFRS measure most directly comparable to Free Cash Flow presented in our financial statements is net cash provided by operating activities.<\/p>\n \nThe following table reconciles Free Cash Flow to net cash provided by operating activities for the periods indicated:<\/p>\n in US $000<\/b><\/p>\n<\/td>\n Three month periods ended<\/b><\/p>\n December 31<\/b><\/p>\n<\/td>\n Six month periods ended<\/b><\/p>\n December 31<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2024<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nChange<\/p>\n<\/td>\n \nChange<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2024<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nChange<\/p>\n<\/td>\n \nChange<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nNet cash provided by operating activities<\/p>\n<\/td>\n 10,131<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,913<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,782<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(15<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n 15,069<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,040<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(8,971<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(37<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nPurchase of property and equipment<\/p>\n<\/td>\n (422<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n(511<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n89<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(17<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n (663<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n(947<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n284<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(30<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nDevelopment costs<\/p>\n<\/td>\n (1,671<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n(1,616<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(55<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n (3,138<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n(3,295<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n157<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n Free Cash Flow<\/b><\/p>\n<\/td>\n 8,038<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,786<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,748<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(18<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n 11,268<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19,798<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(8,530<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(43<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260204908103\/en\/<\/a><\/span><\/p>\n \nSangoma Technologies Corporation KEYWORDS:<\/b> United States North America Canada<\/p>\n INDUSTRY KEYWORDS:<\/b> Telecommunications Software Networks Other Communications Data Management Communications Technology Security<\/p>\n\n
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2 <\/sup>Adjusted EBITDA and Free Cash Flow are non-IFRS financial measures used by the Company to monitor its performance. Please see the section entitled \u201cNon-IFRS Measures and Reconciliation of Non-IFRS Measures\u201d in this press release for how we define \u201cAdjusted EBITDA\u201d and “Free Cash Flow”.
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3<\/sup> The information in this section is forward-looking. Please see the section entitled \u201cCautionary Statement Regarding Forward-Looking Information\u201d in this press release.<\/p>\n\n
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\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/p>\n
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Larry Stock
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Chief Financial Officer
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investorrelations@sangoma.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20260204908103\/en\/2604271\/3\/sangoma-logo-2025.jpg\"){kind=logo}
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