David Kwan

Gavin Fairweather

Mike Latimore

Robert Young

Max Ingram

- Sangoma Technologies reported **Q4 2025 revenue of $59.4 million** and **adjusted EBITDA of $11.4 million (19% margin)**, exceeding consensus expectations.  **[1753368_2146422_1]** **[1753368_2146422_5]**  For **fiscal year 2026**, the company guides for total revenue between **$200 million and $210 million** and an adjusted EBITDA margin of **17% to 19%**, with sequential growth expected to begin in Q2.  **[1753368_2146422_6]** 
- The company completed the sale of its **VoIP Supply business** at the end of June, aligning with a strategic shift towards software-led recurring revenue services, which now constitute **over 90% of its revenue mix**.  **[1753368_2146422_1]** **[1753368_2146422_5]**  Starting Q1 FY2026, Sangoma will categorize its business into **Core services** (75% of revenue, growth engine) and **Adjacent services** (25% of revenue, cash-generative).  **[1753368_2146422_1]** **[1753368_2146422_3]** 
- Sangoma reduced its total debt by **$29.9 million** in fiscal 2025, ending Q4 with **$47.9 million** in total debt, and generated **$32.9 million in free cash flow** for the full fiscal year.  **[1753368_2146422_5]**  The company also noted **18% sequential growth in prem-based product sales** in Q4 2025, driven by targeted campaigns and strategic share gains.  **[1753368_2146422_4]** **[1753368_2146422_11]**

Sangoma Technologies Reports Strong Q4 2025 Performance and Provides FY2026 Guidance

- For **Q4 2025**, Sangoma reported **Total Revenue of $59.4 million**, a **2% increase** from the third quarter of fiscal 2025, and **Adjusted EBITDA of $11.4 million**, representing **19% of total revenue**.  **[1753368_0001753368-25-000016_press-releasef25q4.htm:0]** 
- For **Fiscal Year 2025**, the company's **Total Revenue was $236.7 million** and **Adjusted EBITDA was $41.0 million**, both falling within their guided ranges.  **[1753368_0001753368-25-000016_press-releasef25q4.htm:1]** 
- Sangoma significantly reduced its **total debt by approximately 40%** to **$47.9 million** by the end of fiscal 2025, exceeding its capital allocation target.  **[1753368_0001753368-25-000016_press-releasef25q4.htm:1]** 
- The company provided **Fiscal 2026 guidance**, expecting **Total Revenue in the range of $200 - $210 million** and an **Adjusted EBITDA margin of 17%-19%**.  **[1753368_0001753368-25-000016_press-releasef25q4.htm:1]** 
- During Q4 2025, Sangoma completed the sale of **VoIP Supply LLC for $4.5 million** and repurchased **more than 500,000 shares** under its Normal Course Issuer Bid.  **[1753368_0001753368-25-000016_press-releasef25q4.htm:0]**

Sangoma Technologies (SANG)