Sangoma Technologies Corp - SANG STOCK NEWS

Sangoma Technologies Corporation, a leading provider of cloud-based communications solutions, will participate in Centurion One Capital's Growth Conference. CEO Charles Salameh will present on market success and join the Driving Innovation Panel, offering fresh perspectives. The event aims to showcase Sangoma's innovative solutions and growth strategies.

Sangoma Technologies Corporation (TSX: STC; Nasdaq: SANG) reported continued strength in Services revenue at $50.70 million, representing 81% of total revenue in the second quarter of fiscal 2024. The Company's net loss increased to $3.24 million, with a net loss per share of $0.10. However, the adjusted EBITDA reached $10.45 million, and the net cash provided by operating activities rose to $9.19 million, reflecting a strong quarterly progression of cash flow. Operating expenses were slightly up at $44.54 million, but the Company maintained a healthy balance sheet with a cash balance of $10.56 million on December 31, 2023.

Sangoma Technologies Corporation, a leader in cloud-based Communications as a Service solutions, will release its Q2 fiscal 2024 results on February 8, 2024. The company will also host a conference call to discuss the results.

Sangoma Technologies Corporation (TSX: STC; Nasdaq: SANG) has been named in the 2023 Gartner Magic Quadrant for Unified Communications as a Service, Worldwide report for the ninth straight year. Sangoma is one of the 11 vendors placed in the 2023 report, recognized for its completeness of vision and ability to execute.

Sangoma Technologies Corporation (TSX: STC; NASDAQ: SANG) announced the results of voting at its annual general and special meeting of shareholders. Each of the six nominees listed in the Company’s management information circular was elected as directors of the Company. Sangoma received proxies and virtual votes at the Meeting, with Norman A. Worthington, III receiving 91.69% of votes for and 8.31% of votes withheld, Allan Brett receiving 94.94% of votes for and 5.06% of votes withheld, Al Guarino receiving 99.84% of votes for and 0.16% of votes withheld, Marc Lederman receiving 87.65% of votes for and 12.35% of votes withheld, Giovanna Moretti receiving 99.86% of votes for and 0.14% of votes withheld, Charles Salameh receiving 99.85% of votes for and 0.15% of votes withheld. In addition, Sangoma reports that the appointment of KPMG LLP as Sangoma’s auditors for the 2024 fiscal year was approved by 99.97% of the votes, and the ratification of the amended and restated By-Law No. 2 was passed by 92.16% of the votes.

Sangoma Technologies (SANG) partners with UK-based Sol Distribution to provide businesses with easy and cost-effective access to hardware and software products for digital communication modernization. The UK switch-off of the PSTN in 2025 creates an opportunity for technology providers to help businesses digitize, and this partnership aims to capitalize on that. Sangoma's global reputation in unified business communication innovation combined with Sol Distribution's network of expert resellers and system integrators will provide businesses with smart functionality, reliability, and value for money.

Sangoma Technologies Corporation (TSX: STC; Nasdaq: SANG) is participating in the Benchmark Discovery One-on-One Conference in New York City on December 7th. The company aims to showcase its latest advancements and strategic initiatives, emphasizing its commitment to pioneering solutions that meet worldwide businesses' evolving communication and technology needs.

Sangoma Technologies Corporation (TSX: STC; Nasdaq: SANG) announced Q1 FY2024 financial results, with Services revenue reaching a record 81.1% of total revenue at $51.16 million. Total revenue decreased by 2% from the prior year, with net loss at $(2,444) and adjusted EBITDA at $9,882. CEO Charles Salameh expressed confidence in Sangoma's market position and transformational activities.

Sangoma Technologies Corporation is set to release its first quarter fiscal 2024 results on November 8, 2023. The company will also host a conference call to discuss the results.