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Sangoma (STC) investor relations material
Sangoma Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Delivered Q4 FY2025 revenue of $59.4M and adjusted EBITDA of $11.4M (19% margin), exceeding expectations and marking the highest margin in eight quarters.
Completed transformation to a software-led recurring revenue model, now over 90% of business, and divested VoIP Supply to sharpen focus.
Strategic partnerships with AWS, VTech, and Quicklert expanded vertical reach in hospitality, education, and healthcare.
Transitioned to reporting results as core (SaaS-led) and adjacent (non-core) services for greater transparency.
Q4 and full-year results met or exceeded guidance, with strong free cash flow generation.
Financial highlights
Q4 revenue was $59.4M, up 2% sequentially; FY2025 revenue was $236.7M, within guidance.
Q4 gross profit was $40M (67% margin); FY2025 gross profit was $161.7M (68% margin).
Q4 adjusted EBITDA margin reached 19% (or 20% excluding ERP costs); FY2025 adjusted EBITDA was $41M (17% margin).
Free cash flow for Q4 was $4.8M ($0.14/share); FY2025 free cash flow was $32.9M ($0.98/share).
Q4 net income was $0.2M ($0.01 EPS diluted); FY2025 net loss was $5M ($0.15 loss/share), improved from prior year.
Outlook and guidance
FY2026 revenue guidance: $200M–$210M, reflecting VoIP Supply sale; core platform growth expected in H2 2026.
Adjusted EBITDA margin guidance for FY2026: 17%–19%, including increased go-to-market investments.
Gross margins expected to improve to ~75% in Q1 FY2026; OpEx stable at ~$30M/quarter (excluding amortization).
Sequential growth expected to begin in Q2 FY2026 and continue through the year.
Strong cash generation expected to support growth and shareholder returns.
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