Sangoma Technologies Corp (NAS:SANG)
$ 5.69 -0.51 (-8.23%) Market Cap: 188.87 Mil Enterprise Value: 287.63 Mil PE Ratio: 0 PB Ratio: 0.73 GF Score: 73/100
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Q4 2024 Sangoma Technologies Corp Earnings Call Transcript

Sep 18, 2024 / 09:30PM GMT
Release Date Price: $6.22 (+3.49%)

Key Points

Positve
  • Sangoma Technologies Corp (SANG) reported revenues of $247.3 million for FY24, within their guided range.
  • Adjusted EBITDA of $42.6 million exceeded the midpoint of their guided range, with a margin of 17%.
  • Net cash generated by operating activities was $44.2 million, representing a cash conversion from adjusted EBITDA of 104%.
  • The company has maintained churn rates below 1%, indicating strong customer retention.
  • Sangoma Technologies Corp (SANG) has a robust pipeline of initiatives for FY25, positioning them for sequential growth.
Negative
  • Product revenue declined by 18% year-over-year in Q4, indicating challenges in this segment.
  • Overall revenue for Q4 was $60.9 million, a decline of 4% from the prior-year period.
  • The company is facing increased ERP implementation costs, impacting short-term profitability.
  • Economic conditions have impacted CapEx spend across the industry, affecting product revenue.
  • Despite improvements, there are still internal projects like ERP and automation that need completion.
Operator

Thank you for standing by. This is the conference operator. Welcome to the Sangoma investor conference call. As a reminder, all participants are in listen-only mode and the conference is being recorded. (Operator Instructions)

I would now like to turn the conference over to Samantha Reburn, Chief Legal Officer. Please go ahead, Ms. Reburn.

Samantha Reburn
Sangoma Technologies Corp - General Counsel, Corporate Secretary, Chief Legal Officer

Thank you, operator. Hello, everyone, and welcome to Sangoma's fourth quarter and fiscal year-end 2024 investor call. We are recording the call and we'll make it available on our website for anyone who's unable to join us live.

I'm here today together with Charles Salameh, Sangoma's Chief Executive Officer; Jeremy Wubs, Chief Operating and Marketing Officer; and Larry Stock, Chief Financial Officer, to take you through the results of the fourth quarter of fiscal year 2024, which ended on June 30, 2024. We will discuss the press release that was distributed early today together with the companyâs financial

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