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Sangoma Reports Results for the Second Quarter of Fiscal 2020
(via TheNewswire) Revenue up 10% to a record high of over $32 million a...
About this update from Sangoma Technologies Corporation
[{"type":"text","content":"Sangoma Reports Results for the Second Quarter of Fiscal 2020(via TheNewswire)\n \n \nRevenue up 10% to a record high of over $32 million and EBITDA exceeds $5 million per quarter for the first time ever\n\n \n \nMARKHAM, ONTARIO - TheNewswire - February 27, 2020 - Sangoma Technologies Corporation (TSXV:STC), a trusted leader in delivering Unified Communications solutions for SMBs, Enterprises, OEMs, and Service Providers, both on-premise and in the cloud, today announced highlights of its second quarter unaudited results of fiscal 2020, ended December 31, 2019.\n\n\n \n\n\n\n \nFor the second quarter of fiscal 2020, sales were a record $32.29 million, 10% higher than the same quarter in fiscal 2019 and 15% above the immediately preceding first quarter of this year. EBITDA at $5.19 million was an all-time high, and the first time ever that Sangoma has generated more than $5 million in EBITDA in a single quarter.\n\n \n \n\n\n\nClick Image To View Full Size\n\n\n\n \n \n 1 Operating Income and EBITDA are metrics used by the Company to monitor its performance and the definitions may be found in the accompanying MD&A posted today at www.sedar.com.\n\n \n \n\"I'm pleased to see Sangoma grow from the prior year's revenue for the twentieth straight quarter and I'm particularly proud to see EBITDA cross the $5 million per quarter mark for the first time\", said Bill Wignall, President and CEO of Sangoma. \"Our second quarter had a number of features worth noting including the acquisition of VoIP Innovations to kick off the quarter (which is delivering nicely to our expectations), the really encouraging signs of continued solid growth in our services business, slightly softer demand for our one-time product sales like many companies are seeing these days given events around the globe, and a significant reduction in debt service costs as we locked in half of our loans at a lower interest rate of 4.2%. And subsequent to the end of our second quarter, we entered into an agreement to acquire e4 Strategies, in order to strengthen our sales capabilities in the open source market.\"\n\n \n \nGross profit was $21.32 million in the second quarter of fiscal 2020 at a gross margin of 66%, 5% higher than for the same quarter last year and continuing the trend of slightly stronger gross margins as the percentage of Sangoma revenue from recurring...