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Sangoma Technologies Corp (SANG)



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Upturn Advisory Summary
09/16/2025: SANG (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $9
1 Year Target Price $9
4 | Strong Buy |
2 | Buy |
0 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 17.4% | Avg. Invested days 45 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 198.35M USD | Price to earnings Ratio - | 1Y Target Price 9 |
Price to earnings Ratio - | 1Y Target Price 9 | ||
Volume (30-day avg) 6 | Beta 1.21 | 52 Weeks Range 4.08 - 7.99 | Updated Date 09/16/2025 |
52 Weeks Range 4.08 - 7.99 | Updated Date 09/16/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.22 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Earnings Date
Report Date 2025-09-17 | When - | Estimate -0.03 | Actual - |
Profitability
Profit Margin -2.91% | Operating Margin (TTM) -0.98% |
Management Effectiveness
Return on Assets (TTM) -0.33% | Return on Equity (TTM) -2.68% |
Valuation
Trailing PE - | Forward PE 93.46 | Enterprise Value 234759436 | Price to Sales(TTM) 0.83 |
Enterprise Value 234759436 | Price to Sales(TTM) 0.83 | ||
Enterprise Value to Revenue 0.99 | Enterprise Value to EBITDA 5.45 | Shares Outstanding 33505900 | Shares Floating 25749953 |
Shares Outstanding 33505900 | Shares Floating 25749953 | ||
Percent Insiders 26.78 | Percent Institutions 34.89 |
Upturn AI SWOT
Sangoma Technologies Corp
Company Overview
History and Background
Sangoma Technologies Corp. was founded in 1984. Initially focused on data communications, it transitioned to VoIP and unified communications solutions. It has grown through strategic acquisitions and organic development.
Core Business Areas
- Unified Communications (UC) as a Service (UCaaS): Provides cloud-based phone systems, video conferencing, and collaboration tools for businesses. Focuses on scalability and ease of use.
- Communications Platform as a Service (CPaaS): Offers APIs and tools for developers to integrate communication capabilities into their applications. Allows for custom communication solutions.
- Session Border Controllers (SBCs): Delivers network security and interoperability for VoIP networks. Manages and secures voice and video traffic.
- Telecom Hardware: Offers a wide range of telecom hardware, including VoIP gateways, interface cards, and phones.
Leadership and Structure
Sangoma is led by key executives with experience in telecom and technology. It has a functional organizational structure with departments focused on product development, sales, marketing, and operations. The CEO is Norman Worthington. The CFO is David Moore.
Top Products and Market Share
Key Offerings
- Switchvox: A Unified Communications (UC) solution designed for small to medium-sized businesses (SMBs) offering features such as VoIP phone systems, video conferencing, and team collaboration tools. Market share data for Switchvox specifically is difficult to isolate; however, Sangoma competes in the broader UCaaS market against companies like RingCentral and 8x8.Competitors include RingCentral, 8x8, Dialpad.
- FreePBX: An open-source PBX platform used for building custom phone systems. It has a significant user base but doesn't directly generate revenue; however, it attracts many Sangoma customers. Competitors include Asterisk and FreeSWITCH.
- Sangoma Meet: A video conferencing platform offering screen sharing, chat, and recording capabilities. Market share data is difficult to isolate; Sangoma competes in the crowded video conferencing market against Zoom, Microsoft Teams, and Google Meet.Competitors include Zoom, Microsoft Teams.
Market Dynamics
Industry Overview
The unified communications and VoIP market is experiencing growth due to increasing adoption of cloud-based solutions and remote work trends. The industry is competitive with a mix of established players and emerging startups.
Positioning
Sangoma positions itself as a provider of comprehensive communications solutions for businesses of all sizes, offering both cloud and on-premise options. Its open-source involvement with FreePBX gives it a unique competitive advantage.
Total Addressable Market (TAM)
The global Unified Communications as a Service (UCaaS) market is projected to reach hundreds of billions of dollars in the coming years. Sangoma's positioning allows it to address a significant portion of this TAM, particularly in the SMB segment.
Upturn SWOT Analysis
Strengths
- Broad product portfolio
- Open-source involvement (FreePBX)
- Strong channel partner network
- History of successful acquisitions
- Global Presence
Weaknesses
- Smaller market share compared to larger competitors
- Brand recognition may be lower than competitors
- Integration challenges from acquired companies
- Dependence on hardware sales
Opportunities
- Growing demand for cloud-based communication solutions
- Expansion into new geographic markets
- Development of new products and services
- Further acquisitions to expand product portfolio
- Cross-selling opportunities across product lines
Threats
- Intense competition from larger players
- Rapid technological changes
- Economic downturns affecting business spending
- Security threats and data privacy concerns
- Changing regulatory landscape
Competitors and Market Share
Key Competitors
- RING
- EGHT
Competitive Landscape
Sangoma faces competition from larger, well-established companies with greater resources. However, its open-source involvement and broad product portfolio provide a competitive advantage in certain segments.
Major Acquisitions
Star2Star Communications
- Year: 2021
- Acquisition Price (USD millions): 437
- Strategic Rationale: Strengthened Sangoma's UCaaS offerings and expanded its customer base.
Growth Trajectory and Initiatives
Historical Growth: Sangoma has demonstrated growth through acquisitions and expansion of its product offerings.
Future Projections: Analyst projections vary, but generally anticipate continued growth driven by the adoption of UCaaS and CPaaS solutions.
Recent Initiatives: Recent initiatives include product development, acquisitions of complementary businesses, and expansion of its channel partner network.
Summary
Sangoma Technologies is a communications company offering a wide array of products. Its strengths lie in its product breadth and open-source FreePBX offering. Competition is intense, particularly from larger players. Focus is needed to maintain market position in the Unified Communications market, and further product development should be considered to stay ahead of the competition
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Website
- Industry Reports
- Analyst Estimates
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. Market conditions are subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Sangoma Technologies Corp
Exchange NASDAQ | Headquaters Markham, ON, Canada | ||
IPO Launch date 2021-11-08 | CEO & Director Mr. Charles J. Salameh | ||
Sector Technology | Industry Software - Infrastructure | Full time employees 671 | Website https://sangoma.com |
Full time employees 671 | Website https://sangoma.com |
Sangoma Technologies Corporation, together with its subsidiaries, develops, manufactures, distributes, and supports voice and data connectivity components for software-based communication applications in the United States of America and internationally. The company offers communications platforms comprising pure cloud and hybrid unified communications as a service, and on-premises systems; retail and wholesale SIP trunking, as well as fax as a service; Sangoma TeamHub, a unified communications and collaboration platform for business productivity; Sangoma Meet, a multi-party video conferencing platform; and Sangoma CX, a cloud-native contact center suite that enables businesses to manage inbound interactions across multiple channels. It also provides productivity apps comprising appointment suite, call flow, curbside, phone monitor, send, and urgent notify; managed security services, such as antispam, web filtering, antivirus, botnet and domain reputation, app control and intrusion prevention system services, and managed firewall device; and network management solutions, including managed internet, VPN, and SD-WAN, as well as secure Wi-Fi access points. In addition, the company offers open-source software products, such as Asterisk, an open-source framework for building real-time and multi-protocol communications applications; FreePBX, a web-based open-source GUI for controlling and managing Asterisk; and PBXact, a commercial UC system. Further, it provides desktop and wireless phones, network connectivity hardware, wireless and wired headsets, accessories, analog and digital telephony cards, and Wi-Fi access points; and session border controllers, VoIP gateways, and PSTN interface and media processing boards. The company serves distributors, resellers, enterprises, original equipment manufacturers service providers, and end users comprising small, mid-sized, and large businesses. Sangoma Technologies Corporation is headquartered in Markham, Canada.

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