Sangoma Technologies (SANG)
Market Price (6/20/2026): $3.53 | Market Cap: $117.0 MilSector: Information Technology | Industry: Systems Software
Sangoma Technologies (SANG)
Market Price (6/20/2026): $3.53Market Cap: $117.0 MilSector: Information TechnologyIndustry: Systems Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -27% Attractive yieldFCF Yield is 16% Low stock price volatilityVol 12M is 45% Megatrend and thematic driversMegatrends include Cloud Computing, and 5G & Advanced Connectivity. Themes include Software as a Service (SaaS), Network Equipment, Show more. | Weak multi-year price returns2Y Excs Rtn is -75%, 3Y Excs Rtn is -75% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -4.5 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.1% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -11%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.8%, Rev Chg QQuarterly Revenue Change % is -12% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -9.7% Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 22.16 Key risksSANG key risks include [1] significant competitive pressure from larger players like Microsoft Teams, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -27% |
| Attractive yieldFCF Yield is 16% |
| Low stock price volatilityVol 12M is 45% |
| Megatrend and thematic driversMegatrends include Cloud Computing, and 5G & Advanced Connectivity. Themes include Software as a Service (SaaS), Network Equipment, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -75%, 3Y Excs Rtn is -75% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -4.5 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.1% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -11%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.8%, Rev Chg QQuarterly Revenue Change % is -12% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -9.7% |
| Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 22.16 |
| Key risksSANG key risks include [1] significant competitive pressure from larger players like Microsoft Teams, Show more. |
Qualitative Assessment
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Sangoma Technologies (SANG) stock has lost about 20% since 2/28/2026 because of the following key factors:
1. Sangoma Technologies (SANG) reported a significant earnings miss and provided a cautious outlook for Q3 Fiscal 2026. The company announced Q3 2026 earnings on May 13, 2026, reporting an earnings per share (EPS) of -$0.07, which missed analysts' consensus estimates of -$0.04 by $0.03. Additionally, quarterly revenue came in at $51 million, falling below analysts' expectations of $52.08 million. Management commentary highlighted an ongoing operational transformation amid a challenging macroeconomic environment and did not provide definitive projections for a return to profitability, contributing to investor uncertainty.
2. Analysts downgraded Sangoma Technologies following the disappointing Q3 results. On May 14, 2026, Canaccord Genuity downgraded Sangoma Technologies from a "Buy" rating and substantially lowered its price target from $9 to $4. This analyst action, coming immediately after the Q3 earnings release, reflected a revised and less optimistic outlook on the company's future performance and persistent margin challenges.
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Sangoma Technologies (SANG) stock has lost about 20% since 2/28/2026 because of the following key factors:
1. Sangoma Technologies (SANG) reported a significant earnings miss and provided a cautious outlook for Q3 Fiscal 2026. The company announced Q3 2026 earnings on May 13, 2026, reporting an earnings per share (EPS) of -$0.07, which missed analysts' consensus estimates of -$0.04 by $0.03. Additionally, quarterly revenue came in at $51 million, falling below analysts' expectations of $52.08 million. Management commentary highlighted an ongoing operational transformation amid a challenging macroeconomic environment and did not provide definitive projections for a return to profitability, contributing to investor uncertainty.
2. Analysts downgraded Sangoma Technologies following the disappointing Q3 results. On May 14, 2026, Canaccord Genuity downgraded Sangoma Technologies from a "Buy" rating and substantially lowered its price target from $9 to $4. This analyst action, coming immediately after the Q3 earnings release, reflected a revised and less optimistic outlook on the company's future performance and persistent margin challenges.
3. A challenging macroeconomic environment has continued to impact Sangoma Technologies. Throughout the specified period, the company's financial reports and management discussions consistently referred to a "challenging macroeconomic environment" which included "inflationary pressures and supply chain constraints." This broader economic uncertainty, coupled with a "slower-than-anticipated recovery in customer spending," has created headwinds for Sangoma, making it more difficult to achieve anticipated growth and profitability.
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Stock Movement Drivers
Fundamental Drivers
The -22.1% change in SANG stock from 2/28/2026 to 6/19/2026 was primarily driven by a -19.4% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.62 | 3.60 | -22.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 220 | 213 | -3.2% |
| P/S Multiple | 0.7 | 0.6 | -19.4% |
| Shares Outstanding (Mil) | 33 | 33 | -0.1% |
| Cumulative Contribution | -22.1% |
Market Drivers
2/28/2026 to 6/19/2026| Return | Correlation | |
|---|---|---|
| SANG | -22.1% | |
| Market (SPY) | 9.2% | 1.5% |
| Sector (XLK) | 38.1% | 3.5% |
Fundamental Drivers
The -30.6% change in SANG stock from 11/30/2025 to 6/19/2026 was primarily driven by a -26.0% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.19 | 3.60 | -30.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 227 | 213 | -6.5% |
| P/S Multiple | 0.8 | 0.6 | -26.0% |
| Shares Outstanding (Mil) | 33 | 33 | 0.3% |
| Cumulative Contribution | -30.6% |
Market Drivers
11/30/2025 to 6/19/2026| Return | Correlation | |
|---|---|---|
| SANG | -30.6% | |
| Market (SPY) | 9.9% | 1.9% |
| Sector (XLK) | 34.1% | 4.8% |
Fundamental Drivers
The -34.3% change in SANG stock from 5/31/2025 to 6/19/2026 was primarily driven by a -27.0% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.48 | 3.60 | -34.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 238 | 213 | -10.8% |
| P/S Multiple | 0.8 | 0.6 | -27.0% |
| Shares Outstanding (Mil) | 33 | 33 | 0.9% |
| Cumulative Contribution | -34.3% |
Market Drivers
5/31/2025 to 6/19/2026| Return | Correlation | |
|---|---|---|
| SANG | -34.3% | |
| Market (SPY) | 28.1% | 0.1% |
| Sector (XLK) | 66.8% | -0.6% |
Fundamental Drivers
The 5.3% change in SANG stock from 5/31/2023 to 6/19/2026 was primarily driven by a 34.6% change in the company's P/S Multiple.| (LTM values as of) | 5312023 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.42 | 3.60 | 5.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 255 | 213 | -16.7% |
| P/S Multiple | 0.4 | 0.6 | 34.6% |
| Shares Outstanding (Mil) | 31 | 33 | -6.1% |
| Cumulative Contribution | 5.3% |
Market Drivers
5/31/2023 to 6/19/2026| Return | Correlation | |
|---|---|---|
| SANG | 5.3% | |
| Market (SPY) | 85.7% | 12.9% |
| Sector (XLK) | 137.9% | 8.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SANG Return | 1648% | -71% | -34% | 123% | -29% | -29% | 275% |
| Peers Return | -25% | -58% | 3% | -8% | -11% | 14% | -70% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| SANG Win Rate | 8% | 33% | 33% | 75% | 33% | 17% | |
| Peers Win Rate | 43% | 27% | 53% | 48% | 55% | 57% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SANG Max Drawdown | -10% | -80% | -58% | -27% | -47% | -32% | |
| Peers Max Drawdown | -45% | -67% | -40% | -38% | -39% | -28% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: RNG, EGHT, FIVN, ZM, CSCO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | SANG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.7% | -18.8% |
| % Gain to Breakeven | 44.4% | 23.1% |
| Time to Breakeven | 35 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -11.1% | -7.8% |
| % Gain to Breakeven | 12.4% | 8.5% |
| Time to Breakeven | 1 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -40.9% | -9.5% |
| % Gain to Breakeven | 69.3% | 10.5% |
| Time to Breakeven | 113 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -49.5% | -33.7% |
| % Gain to Breakeven | 98.2% | 50.9% |
| Time to Breakeven | 632 days | 140 days |
| 2013 Taper Tantrum | ||
| % Loss | -39.0% | -0.2% |
| % Gain to Breakeven | 63.9% | 0.2% |
| Time to Breakeven | 175 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -19.2% | -17.9% |
| % Gain to Breakeven | 23.8% | 21.8% |
| Time to Breakeven | 2765 days | 123 days |
In The Past
Sangoma Technologies's stock fell -30.7% during the 2025 US Tariff Shock. Such a loss loss requires a 44.4% gain to breakeven.
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| Event | SANG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.7% | -18.8% |
| % Gain to Breakeven | 44.4% | 23.1% |
| Time to Breakeven | 35 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -40.9% | -9.5% |
| % Gain to Breakeven | 69.3% | 10.5% |
| Time to Breakeven | 113 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -49.5% | -33.7% |
| % Gain to Breakeven | 98.2% | 50.9% |
| Time to Breakeven | 632 days | 140 days |
| 2013 Taper Tantrum | ||
| % Loss | -39.0% | -0.2% |
| % Gain to Breakeven | 63.9% | 0.2% |
| Time to Breakeven | 175 days | 1 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -31.8% | -15.4% |
| % Gain to Breakeven | 46.6% | 18.2% |
| Time to Breakeven | 3227 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -72.8% | -53.4% |
| % Gain to Breakeven | 267.6% | 114.4% |
| Time to Breakeven | 3782 days | 1085 days |
In The Past
Sangoma Technologies's stock fell -30.7% during the 2025 US Tariff Shock. Such a loss loss requires a 44.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Sangoma Technologies (SANG)
Sangoma Technologies Corporation is a global leader in providing voice and data communication solutions for software-based applications. The company develops, manufactures, and supports the essential components and systems that enable businesses and service providers to build and manage their communication infrastructure, with a strong focus on unified communications and Voice-over-IP (VoIP) technologies.
Sangoma's extensive product portfolio includes a range of business phone systems like Switchvox and PBXact, available both as on-premise solutions and cloud-based services such as Switchvox Cloud and PBXact Cloud. They also offer critical hardware components, including Internet Protocol (IP) phones, VoIP gateways, and session border controllers. Complementing these are their software offerings, notably the popular open-source Asterisk and FreePBX IP PBX software, SIPstation for hosted SIP trunking, and FAXStation for fax-over-IP solutions, along with telephony and media transcoding cards.
The company serves a broad and diverse customer base across multiple market segments. Its communication solutions are tailored for small and medium-sized businesses (SMBs) seeking comprehensive phone systems, as well as larger enterprises requiring scalable and robust communication platforms. Furthermore, Sangoma supplies essential technology to original equipment manufacturers (OEMs), telecommunications carriers, and service providers who integrate these components into their own communication offerings.
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Here are 1-3 brief analogies for Sangoma Technologies (SANG):
- Sangoma is like a Cisco for business phone systems, providing the hardware, software, and services for companies to manage their voice communications.
- Sangoma is like a Red Hat for business communications infrastructure, taking open-source IP PBX software (like Asterisk) and offering commercial, supported products and cloud services around it.
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- Switchvox: A business phone system.
- PBXact: A phone system.
- IP phones: Internet protocol phones.
- Service provider and Voice over Internet Protocol (VoIP) gateways: Components for connecting voice and data networks for service providers and VoIP.
- Switchvox Cloud: A cloud-based unified communications solution.
- SIPstation SIP Trunking: A hosted service for connecting IP-based phone systems to the public telephone network.
- PBXact Cloud: A cloud-based private branch exchange (PBX) service.
- Asterisk and FreePBX: Open-source IP PBX software.
- FAXStation: A fax-over-IP solution.
- Session border controllers: Devices that manage and secure real-time multimedia communications sessions.
- Telephony and media transcoding cards: Hardware cards for processing and converting telephony and media signals.
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Sangoma Technologies (SANG) sells primarily to other companies. Based on the provided description, its major customer categories include:
- Small and medium-sized businesses
- Enterprises
- Original equipment manufacturers (OEMs)
- Carriers
- Service providers
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Charles Salameh, Chief Executive Officer
Charles Salameh is a seasoned technology executive with over three decades of international experience across the Information Technology and Network industries. His career includes pivotal roles in the global evolution of Infosys' Strategic go-to-market programs, serving as SVP of Hewlett Packard Services Americas business, and holding various high-ranking positions at DXC, Nortel Networks, and Bell Canada. Most recently, prior to joining Sangoma as CEO on September 1, 2023, he was the Global Head of Account Expansion at Infosys.
Larry Stock, Chief Financial Officer
Larry Stock was appointed Chief Financial Officer of Sangoma effective October 3, 2022. He previously served as the CFO of Star2Star when it was acquired by Sangoma in March 2021. Prior to his role at Star2Star, Mr. Stock had a 22-year career at Jabil (JBL), where he held a number of executive finance and leadership positions, including Chief Audit Executive, Divisional Chief Financial Officer, VP of Risk & Assurance, and Chief Risk Officer.
Jeremy Wubs, Chief Operating & Technology Officer
Jeremy Wubs is an industry veteran with deep roots in cloud communications, bringing a wealth of experience in operations, technology, marketing, and sales to Sangoma.
Samantha Reburn, Chief Legal Officer & Corporate Secretary
Samantha Reburn serves as Sangoma's Chief Legal Officer & Corporate Secretary.
Joel Kappes, Chief Customer Officer
Joel Kappes holds the position of Chief Customer Officer at Sangoma.
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Key Risks to Sangoma Technologies (SANG)
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Intense Competition: Sangoma Technologies operates in a highly competitive unified communications (UC) market, facing formidable rivals such as Microsoft and Cisco. Other significant competitors include 8x8, Avaya, RingCentral, AT&T, Mitel, and Google. These larger players possess substantial resources, brand recognition, and market share, potentially challenging Sangoma's growth and profitability.
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Vulnerability to Economic Downturns due to SMB Customer Base: A significant portion of Sangoma's clientele consists of small and medium-sized businesses (SMBs). These businesses are particularly susceptible to economic contractions and may be disproportionately affected during a recession. An economic downturn could lead to longer sales cycles for Sangoma's products and services, or an increase in its currently low churn rate, negatively impacting revenue and growth.
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Operational Integration Risk from Acquisitions: Sangoma Technologies has historically pursued an aggressive acquisition strategy, acquiring and integrating multiple companies. While the company is in the process of transitioning to a more refined, service-led model and has worked to untangle operational complexities, the ongoing challenge of merging the back offices and operations of numerous acquired entities still presents an operational integration risk.
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The accelerated market shift towards comprehensive, fully integrated Unified Communications as a Service (UCaaS) platforms provided by large, well-resourced technology companies (e.g., Microsoft Teams Phone System, Zoom Phone, RingCentral, 8x8). These platforms often offer a broader suite of collaboration features (video conferencing, team chat, file sharing) natively integrated with voice, reducing the need for traditional on-premise PBX hardware, specialized gateways, and even potentially less integrated cloud PBX solutions like those offered by Sangoma. This trend pushes businesses away from managing their own telephony infrastructure (even open-source based ones) and towards an all-in-one, subscription-based cloud service.
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Sangoma Technologies (symbol: SANG) operates within several significant addressable markets related to business communication and connectivity. Their main products and services, including business phone systems, IP phones, VoIP gateways, unified communications solutions, and session border controllers, fall under the broader categories of Unified Communications as a Service (UCaaS), Voice over Internet Protocol (VoIP) / IP Telephony, and Session Border Controllers (SBCs).
Addressable Markets for Sangoma Technologies' Main Products and Services:
- Unified Communications as a Service (UCaaS): The global Unified Communication as a Service (UCaaS) market was valued at approximately USD 66.42 billion in 2025 and is projected to grow to about USD 276.9 billion by 2034. Another estimate places the global UCaaS market size at USD 87.39 billion in 2024, with a projection to reach USD 262.37 billion by 2030. North America accounted for a significant portion of this market, holding a 42.30% share in 2025.
- Voice over Internet Protocol (VoIP) / IP Telephony: This market encompasses various Sangoma offerings such as business phone systems (Switchvox, PBXact), IP phones, VoIP gateways, and SIP trunking services (SIPstation SIP Trunking, PBXact Cloud). The global VoIP services market was estimated at USD 169.38 billion in 2025 and is projected to reach USD 264.27 billion by 2029. Another report suggests the global VoIP market size was USD 161.79 billion in 2025 and is predicted to grow to approximately USD 453.75 billion by 2035. For IP Telephony specifically, the global market size was valued at USD 33.35 billion in 2024 and is expected to reach USD 72.21 billion by 2032. North America was a dominant region, holding a 48% revenue share of the global VoIP market in 2024.
- Session Border Controllers (SBCs): Sangoma provides session border controllers. The global Session Border Controller (SBC) market was valued at over USD 1.1 billion in 2025 and is projected to reach USD 2.46 billion by 2035. Another source indicates the worldwide SBC market is projected to grow from roughly USD 1.2 billion in 2023 to USD 2.8 billion by 2032. The global enterprise session border controller market size specifically is projected to increase from US$ 609.3 million in 2025 to US$ 965.7 million by 2032. North America is a major market for SBCs, projected to command a 35% share by 2035.
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For Sangoma Technologies (SANG), several key drivers are expected to contribute to future revenue growth over the next 2-3 years:
- Shift to Higher-Margin Recurring Revenue and Cloud Services: Sangoma is strategically transitioning its business model by divesting its lower-margin, non-recurring hardware resale activities, such as VoIP Supply, to concentrate on high-margin recurring revenue from services and cloud-based solutions. This shift is evident as service revenue now constitutes 92% of total revenue and has shown sequential growth, indicating a successful transformation into a software-as-a-service (SaaS) and services-oriented company.
- Enhanced Go-to-Market Strategy and Increased Bookings Momentum: The company's refined go-to-market strategy is gaining traction, leading to one of its strongest booking quarters recently. This includes growing traction across various verticals and wholesale channels, supported by increased commercial productivity and higher commissions from large contracts. Sangoma has also reported a 60% year-over-year increase in Monthly Recurring Revenue (MRR) bookings, which is a strong indicator of future revenue.
- Customer Acquisition and Expansion in the Mid-Market: Sangoma is focused on expanding its customer base through "new logo acquisition" and "expansion within the existing customer base." The company has reported sustained progress in its mid-market strategy, with solid pipeline conversions. Sangoma specifically targets small and medium-sized businesses (SMBs) with its comprehensive suite of Unified Communications as a Service (UCaaS), Contact Center as a Service (CCaaS), and cloud-based security solutions.
- Sequential Revenue Growth and Return to Organic Growth: Management anticipates continued sequential revenue growth in the upcoming quarters and expects a return to year-over-year organic growth after adjusting for the divestiture of VoIP Supply. This outlook suggests that the core business, following its strategic realignment, is positioned for sustained organic expansion.
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Share Repurchases
- In March 2025, Sangoma Technologies launched a Normal Course Issuer Bid (NCIB) to repurchase up to 1,679,720 shares, representing approximately 5% of its total outstanding shares, between March 27, 2025, and March 26, 2026. This program is financed by surplus cash from operations.
- By the second quarter of fiscal year 2026 (ended December 31, 2025), over 700,000 shares had been repurchased for cancellation under the NCIB, with $1.0 million in shares repurchased during that quarter.
Share Issuance
- In May 2023, the remaining 9,142,856 common shares, which were part of the consideration for the StarBlue Acquisition, were fully issued.
- As part of the NetFortris acquisition in March 2022, Sangoma issued 1,494,536 common shares.
- In November and December 2021, Sangoma's shares began trading on the Toronto Stock Exchange (TSX) and NASDAQ Global Select Market (NASDAQ) respectively, following a share consolidation ratio of seven pre-consolidation common shares for one post-consolidation common share, effective November 8, 2021.
Outbound Investments
- In March 2021, Sangoma acquired Star2Star Communications in a deal valued at approximately $437 million, significantly enhancing its Unified Communications as a Service (UCaaS) portfolio and expanding its customer base.
- In March 2022, Sangoma acquired NetFortris, a U.S.-based provider of cloud communications, secure network services, and SD-WAN solutions, for $68 million. The acquisition involved a net cash consideration of $48.71 million.
- In August 2025, Sangoma announced the sale of VoIP Supply, LLC, as a strategic move to divest from low-margin, non-recurring resale activities.
Capital Expenditures
- Sangoma has made strategic investments in an Enterprise Resource Planning (ERP) initiative, spending $0.6 million in fiscal year 2024 and an additional $0.2 million in the first quarter of fiscal year 2025.
- For fiscal year 2026, management has committed an incremental $2 million investment in go-to-market strategies to stimulate organic growth.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Sangoma Technologies Stock Dropped 23% - Have You Assessed the Risk | 10/17/2025 |
| Title | |
|---|---|
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 27.21 |
| Mkt Cap | 2.2 |
| Rev LTM | 1,861 |
| Op Inc LTM | 107 |
| FCF LTM | 359 |
| FCF 3Y Avg | 277 |
| CFO LTM | 437 |
| CFO 3Y Avg | 347 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.9% |
| Rev Chg 3Y Avg | 3.6% |
| Rev Chg Q | 5.4% |
| QoQ Delta Rev Chg LTM | 1.3% |
| Op Inc Chg LTM | 32.3% |
| Op Inc Chg 3Y Avg | 98.5% |
| Op Mgn LTM | 5.4% |
| Op Mgn 3Y Avg | 0.5% |
| QoQ Delta Op Mgn LTM | 0.8% |
| CFO/Rev LTM | 21.0% |
| CFO/Rev 3Y Avg | 19.0% |
| FCF/Rev LTM | 17.2% |
| FCF/Rev 3Y Avg | 15.3% |
Price Behavior
| Market Price | $3.60 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 02/19/2008 | |
| Distance from 52W High | -43.3% | |
| 50 Days | 200 Days | |
| DMA Price | $3.96 | $4.80 |
| DMA Trend | down | down |
| Distance from DMA | -9.0% | -25.0% |
| 3M | 1YR | |
| Volatility | 54.1% | 48.2% |
| Downside Capture | 36.50 | 75.75 |
| Upside Capture | -48.39 | -4.42 |
| Correlation (SPY) | -3.9% | -0.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.63 | 0.83 | 0.47 | 0.32 | 0.15 | 0.51 |
| Up Beta | -0.65 | 1.39 | 0.55 | 0.22 | -0.21 | 0.23 |
| Down Beta | 0.91 | 1.90 | 0.68 | 0.67 | 0.47 | 0.75 |
| Up Capture | -154% | -2% | -15% | -16% | -8% | 21% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 7 | 16 | 22 | 43 | 97 | 322 |
| Down Capture | 4% | 79% | 99% | 78% | 54% | 82% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 11 | 20 | 32 | 62 | 120 | 348 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SANG | |
|---|---|---|---|---|
| SANG | -34.3% | 48.7% | -0.94 | - |
| Sector ETF (XLK) | 59.9% | 23.1% | 1.96 | -0.5% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 0.0% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 2.4% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | 4.6% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | -0.8% |
| Bitcoin (BTCUSD) | -40.0% | 42.5% | -1.08 | -0.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SANG | |
|---|---|---|---|---|
| SANG | -12.2% | 66.7% | 0.01 | - |
| Sector ETF (XLK) | 22.9% | 25.3% | 0.80 | 14.4% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 17.6% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 1.7% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 6.9% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 16.8% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 16.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SANG | |
|---|---|---|---|---|
| SANG | -10.4% | 68.0% | -0.13 | - |
| Sector ETF (XLK) | 25.4% | 24.7% | 0.93 | 16.5% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 20.0% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 0.8% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 9.7% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 20.3% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 18.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/13/2026 | 6-K |
| 12/31/2025 | 02/04/2026 | 6-K |
| 09/30/2025 | 11/10/2025 | 6-K |
| 06/30/2025 | 09/17/2025 | 40-F |
| 03/31/2025 | 05/08/2025 | 6-K |
| 12/31/2024 | 02/05/2025 | 6-K |
| 09/30/2024 | 11/06/2024 | 6-K |
| 06/30/2024 | 09/18/2024 | 40-F |
| 03/31/2024 | 05/08/2024 | 6-K |
| 12/31/2023 | 02/08/2024 | 6-K |
| 09/30/2023 | 11/08/2023 | 6-K |
| 06/30/2023 | 09/27/2023 | 40-F |
| 03/31/2023 | 05/11/2023 | 6-K |
| 12/31/2022 | 02/10/2023 | 6-K |
| 09/30/2022 | 11/14/2022 | 6-K |
| 06/30/2022 | 09/27/2022 | 40-F |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/13/2026 | 6-K |
| 12/31/2025 | 02/04/2026 | 6-K |
| 09/30/2025 | 11/10/2025 | 6-K |
| 06/30/2025 | 09/17/2025 | 40-F |
| 03/31/2025 | 05/08/2025 | 6-K |
| 12/31/2024 | 02/05/2025 | 6-K |
| 09/30/2024 | 11/06/2024 | 6-K |
| 06/30/2024 | 09/18/2024 | 40-F |
| 03/31/2024 | 05/08/2024 | 6-K |
| 12/31/2023 | 02/08/2024 | 6-K |
| 09/30/2023 | 11/08/2023 | 6-K |
| 06/30/2023 | 09/27/2023 | 40-F |
| 03/31/2023 | 05/11/2023 | 6-K |
| 12/31/2022 | 02/10/2023 | 6-K |
| 09/30/2022 | 11/14/2022 | 6-K |
| 06/30/2022 | 09/27/2022 | 40-F |
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Systems Software Resources |
| CNET |
| ZDNet |
| Gartner |
| Software Development Times |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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