Sangoma Technologies Corp
SANG Nasdaq Services-Computer Programming, Data Processing, Etc. Financials FY2020–FY2025
Revenue
Total sales reported in the income statement.
$200M
15.5%
vs prior year
Operating margin
Operating income as a share of revenue.
—
Net income
Profit after all expenses, interest and tax.
−$81.1M
Free cash flow
Cash from operations minus capital spending.
$21.9M
44.4%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$2.44 EPS (TTM)
What Sangoma Technologies Corp does
No business description yet.
- Legal name
- Sangoma Technologies Corp
- Fiscal year ends
- June 30, 2026
- Latest annual report
- 40-F · Sep 28, 2026
- Accession · CIK
- 0001753368-26-000011
0001753368
Revenue and margins
Sangoma Technologies Corp had $200M of revenue in fiscal 2025, down 15.5% on the year before.
FY20
Revenue $131M
FY21
Revenue $224M
FY22
Revenue $253M
FY23
Revenue $247M
FY24
Revenue $237M
FY25
Revenue $200M
FY20
Gross 68.1%
Operating —
Net 0.2%
FCF 13.2%
FY21
Gross 69.9%
Operating —
Net −49.4%
FCF 8.6%
FY22
Gross 68.4%
Operating —
Net −11.5%
FCF 8.9%
FY23
Gross 69.9%
Operating —
Net −3.5%
FCF 16.2%
FY24
Gross 68.3%
Operating —
Net −2.1%
FCF 16.6%
FY25
Gross 70.3%
Operating —
Net −40.5%
FCF 11.0%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY20
Net income $0.3M
FY21
Net income −$111M
FY22
Net income −$29.0M
FY23
Net income −$8.7M
FY24
Net income −$5.0M
FY25
Net income −$81.1M
FY20
Diluted EPS $0.01
FY21
Diluted EPS −$3.52
FY22
Diluted EPS −$0.88
FY23
Diluted EPS −$0.26
FY24
Diluted EPS −$0.15
FY25
Diluted EPS −$2.44
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY20
Return on capital —
Return on equity 0.1%
Return on assets —
FY21
Return on capital —
Return on equity −33.1%
Return on assets −22.2%
FY22
Return on capital —
Return on equity −10.4%
Return on assets −6.2%
FY23
Return on capital —
Return on equity −3.3%
Return on assets −2.1%
FY24
Return on capital —
Return on equity −1.9%
Return on assets −1.3%
FY25
Return on capital —
Return on equity −37.8%
Return on assets −27.9%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $21.9M in fiscal 2025, 11.0% of revenue. Cash from operations minus capital spending.
FY20
Free cash flow $17.4M
FY21
Free cash flow $19.2M
FY22
Free cash flow $22.5M
FY23
Free cash flow $40.1M
FY24
Free cash flow $39.4M
FY25
Free cash flow $21.9M
FY20
Cash from operations $18.5M
Capital spending $1.1M
FY21
Cash from operations $21.1M
Capital spending $1.9M
FY22
Cash from operations $26.5M
Capital spending $4.0M
FY23
Cash from operations $44.2M
Capital spending $4.1M
FY24
Cash from operations $41.8M
Capital spending $2.4M
FY25
Cash from operations $23.7M
Capital spending $1.8M
Cash from operations
Capital spending
Dividends, buybacks and share count
Sangoma Technologies Corp returned $1.0M to shareholders in fiscal 2025, 5% of free cash flow. The diluted share count fell 0.8%.
FY20
Dividends —
Buybacks —
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks $0.0M
FY24
Dividends —
Buybacks $2.8M
FY25
Dividends —
Buybacks $1.0M
Dividends
Buybacks
FY20
Diluted shares 0.03B
FY21
Diluted shares 0.03B
FY22
Diluted shares 0.03B
FY23
Diluted shares 0.03B
FY24
Diluted shares 0.03B
FY25
Diluted shares 0.03B
Balance sheet
Cash, debt and the ratios that show how comfortably Sangoma Technologies Corp can carry it.
FY20
Cash $22.1M
Debt $75.0M
FY21
Cash $12.7M
Debt $105M
FY22
Cash $11.2M
Debt $101M
FY23
Cash $16.2M
Debt $77.8M
FY24
Cash $13.5M
Debt $47.9M
FY25
Cash $10.4M
Debt $27.3M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $12.7M | $11.2M | $16.2M | $13.5M | $10.4M |
| Debt incl. finance leases | $105M | $101M | $77.8M | $47.9M | $27.3M |
| Debt / equity | 0.4x | 0.4x | 0.3x | 0.2x | 0.2x |
| Current ratio | 0.8x | 1.0x | 1.0x | 0.9x | 0.8x |
| Quick ratio | 0.5x | 0.7x | 0.7x | 0.7x | 0.7x |
| Total assets | $499M | $443M | $401M | $347M | $236M |
| Total liabilities | $205M | $177M | $141M | $92.4M | $60.9M |
| Shareholders' equity | $294M | $266M | $260M | $254M | $175M |
| Net debt (− = net cash) | $91.9M | $89.7M | $61.6M | $34.4M | $16.9M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | — | ✓ | ✓ | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | ✕ | ✓ | ✓ | ✓ |
| Current ratio rose | — | ✕ | ✓ | ✕ | ✕ | ✕ |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ | ✓ |
| Gross margin rose | — | ✓ | ✕ | ✓ | ✕ | ✓ |
| Revenue rose relative to assets | — | — | ✓ | ✓ | ✓ | ✓ |
| F-score | — / 3 | — / 6 | 5 / 9 | 6 / 9 | 5 / 9 | 6 / 9 |
| Accruals ratio | — | −26.4% | −11.8% | −12.5% | −12.5% | −36.0% |
| Altman Z'' | — | — | — | — | — | — |
6 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | $131M | $224M | $253M | $247M | $237M | $200M |
| Gross profit | $89.4M | $157M | $173M | $173M | $162M | $141M |
| Research and development | $21.4M | $34.2M | $37.5M | $39.5M | $42.1M | $42.9M |
| Interest expense | $1.9M | $3.9M | $6.8M | $6.6M | $4.0M | $2.0M |
| Pretax income | $4.4M | −$104M | −$32.0M | −$9.5M | −$6.3M | −$86.5M |
| Income tax | $4.1M | $6.4M | −$2.9M | −$0.8M | −$1.3M | −$5.5M |
| Net income | $0.3M | −$111M | −$29.0M | −$8.7M | −$5.0M | −$81.1M |
| Diluted EPS | $0.01 | −$3.52 | −$0.88 | −$0.26 | −$0.15 | −$2.44 |
| Diluted shares | 0.03B | 0.03B | 0.03B | 0.03B | 0.03B | 0.03B |
| Cash flow | ||||||
| Cash from operations | $18.5M | $21.1M | $26.5M | $44.2M | $41.8M | $23.7M |
| Capital expenditure | $1.1M | $1.9M | $4.0M | $4.1M | $2.4M | $1.8M |
| Free cash flow | $17.4M | $19.2M | $22.5M | $40.1M | $39.4M | $21.9M |
| Stock-based compensation | $3.8M | $9.9M | $3.1M | $3.0M | $2.9M | $2.5M |
| Acquisitions | $106M | $50.7M | $0.0M | — | — | — |
| Share buybacks | — | — | — | $0.0M | $2.8M | $1.0M |
| Dividends and buybacks | — | — | — | $0.0M | $2.8M | $1.0M |
| Balance sheet | ||||||
| Cash and short-term investments | $22.1M | $12.7M | $11.2M | $16.2M | $13.5M | $10.4M |
| Total debt | $75.0M | $105M | $101M | $77.8M | $47.9M | $27.3M |
| Current assets | $53.3M | $60.3M | $61.9M | $57.1M | $42.6M | $33.7M |
| Current liabilities | $55.2M | $78.4M | $63.5M | $60.1M | $49.5M | $43.1M |
| Inventory | $11.8M | $17.4M | $18.0M | $14.8M | $8.2M | $4.8M |
| Property and equipment, net | $7.7M | $10.3M | $9.2M | $8.4M | $6.4M | $4.8M |
| Goodwill | $267M | $210M | $188M | $188M | $187M | $118M |
| Intangible assets | $194M | $191M | $157M | $124M | $91.1M | $59.0M |
| Total assets | — | $499M | $443M | $401M | $347M | $236M |
| Total liabilities | $164M | $205M | $177M | $141M | $92.4M | $60.9M |
| Shareholders' equity | $376M | $294M | $266M | $260M | $254M | $175M |
| Margins | ||||||
| Gross margin | 68.1% | 69.9% | 68.4% | 69.9% | 68.3% | 70.3% |
| Net margin | 0.2% | −49.4% | −11.5% | −3.5% | −2.1% | −40.5% |
| FCF margin | 13.2% | 8.6% | 8.9% | 16.2% | 16.6% | 11.0% |
| Returns | ||||||
| Return on equity | 0.1% | −33.1% | −10.4% | −3.3% | −1.9% | −37.8% |
| Return on assets | — | −22.2% | −6.2% | −2.1% | −1.3% | −27.9% |
| Growth | ||||||
| Revenue growth | — | 70.8% | 12.6% | −2.1% | −4.3% | −15.5% |
| Net income growth | — | −39,383.7% | — | — | — | — |
| EPS growth | — | −35,300.0% | — | — | — | — |
| FCF growth | — | 10.4% | 17.1% | 78.5% | −1.8% | −44.4% |
| Share count change | — | 7.9% | 5.2% | 0.4% | 0.7% | −0.8% |
| Financial health | ||||||
| Debt / equity | 0.2x | 0.4x | 0.4x | 0.3x | 0.2x | 0.2x |
| Current ratio | 1.0x | 0.8x | 1.0x | 1.0x | 0.9x | 0.8x |
| Quick ratio | 0.8x | 0.5x | 0.7x | 0.7x | 0.7x | 0.7x |
| Capital allocation | ||||||
| Capex / revenue | 0.9% | 0.8% | 1.6% | 1.7% | 1.0% | 0.9% |
| Stock comp / revenue | 2.9% | 4.4% | 1.2% | 1.2% | 1.2% | 1.2% |
| Payouts / FCF | — | — | — | 0.0% | 7.2% | 4.7% |
| Quality scores | ||||||
| Piotroski F-score | — | — | 5.0 | 6.0 | 5.0 | 6.0 |
| Accruals ratio | — | −26.4% | −11.8% | −12.5% | −12.5% | −36.0% |
Source: SEC EDGAR XBRL filings (CIK 0001753368). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.