SANG on Nasdaq

Sangoma Technologies Corporation

Logo: Em.arnold, Public domain, via Wikimedia Commons4

Canadian communications company

Sangoma Corporation, formerly known as Sangoma Technologies Corporation, is a Canadian company specializing in Communications as a Service (CaaS) solutions, Voice over IP (VoIP) hardware, and software for businesses. Founded in 1984 and headquartered in Markham, Ontario, Sangoma is publicly traded on the Toronto Stock Exchange (TSX: STC) and NASDAQ (SANG). The company rebranded to Sangoma Corporation in [year of name change, e.g., 2024; source needed] to reflect its broadened focus on unified communications and cloud-based solutions.3 Wikipedia text CC BY-SA 4.0

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Last updated Oct 20, 2026.

Overview

1984Founded1

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  • TickerSANG on Nasdaq1
  • Industrytelecommunications1
  • HeadquartersMarkham1
  • Websitewww.sangoma.com
  • Legal formpublic company1
  • Incorporated inOntario, Canada5
  • Business address100 Renfrew Drive, Suite 100, Markham, A6 L3R 9R65
  • Filer category, Emerging growth company5

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SangomaTechnologies2
Photo: Raysonho @ Open Grid Scheduler / Scalable Grid Engine, CC0, via Wikimedia Commons7

Sangoma Corporation, formerly known as Sangoma Technologies Corporation, is a Canadian company specializing in Communications as a Service (CaaS) solutions, Voice over IP (VoIP) hardware, and software for businesses. Founded in 1984 and headquartered in Markham, Ontario, Sangoma is publicly traded on the Toronto Stock Exchange (TSX: STC) and NASDAQ (SANG). The company rebranded to Sangoma Corporation in [year of name change, e.g., 2024; source needed] to reflect its broadened focus on unified communications and cloud-based solutions. Sangoma has grown through strategic acquisitions, including FreePBX in 2015, Digium in 2018, Star2Star in 2021, and Netfortris in 2022, establishing itself as a key player in the unified communications and VoIP markets.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

68.3%Gross margin8
-2.1%Net margin8
-4.3%Revenue growth, 20258
-2.0%Return on equity8
0.11×Debt to equity8
$39.4MFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Services brought in 92% of the revenue Sangoma Technologies Corporation broke down this way in fiscal 2026.

  1. Services$183.9M992%down 6% from 2025
  2. Products$16.1M98%down 61% from 2025
Products and services by year
Products and services20252026
Services$195.1M$183.9M
Products$41.6M$16.1M

Regions

United States brought in 95% of the revenue Sangoma Technologies Corporation broke down this way in fiscal 2026.

  1. United States$190.9M995%down 15% from 2025
  2. Foreign countries [member]$9.2M95%down 27% from 2025
Regions by year
Regions20252026
United States$224.1M$190.9M
Foreign countries [member]$12.6M$9.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue32¢$74.9M
  • Research and development18¢$42.1M
  • Other costs48¢$114.3M
  • Interest2¢$4.0M
  • Income tax1¢$1.3M

Out of $236.7M in revenue.8 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending6¢$2.4M
  • Share buybacks7¢$2.8M
  • Kept or used elsewhere87¢$36.6M

Out of $41.8M of cash from operations.8

Financial statements

Revenue1011128$236.7M in 2025+80% since 2021
0$100.0M$200.0M$300.0M2021: $131.4M$131.4M20212022: $224.4M$224.4M2022+71%2023: $252.5M$252.5M2023+13%2024: $247.3M$247.3M2024−2%2025: $236.7M$236.7M2025−4%
Gross profit1011128$161.7M in 2025+81% since 2021
0$50.0M$100.0M$150.0M$200.0M2021: $89.4M$89.4M20212022: $156.9M$156.9M2022+75%2023: $172.8M$172.8M2023+10%2024: $172.8M$172.8M2024+0%2025: $161.7M$161.7M2025−6%
Net income1011128-$5.0M in 2025
-$150.0M-$100.0M-$50.0M0$50.0M2021: $282.0K$282.0K20212022: -$110.8M-$110.8M20222023: -$29.0M-$29.0M2023−74%2024: -$8.7M-$8.7M2024−70%2025: -$5.0M-$5.0M2025−42%

Every line of the income statement as filed: the last 2 fiscal years, latest first.9

Period ending2026-06-302025-06-30
Revenue$200.1M$236.7M
Cost of sales$56.4M$74.9M
Inventory write-down$3.0M$0
Gross profit$140.7M$161.7M
Sales and marketing$48.9M$51.0M
Research and development$42.9M$42.1M
General and administration$30.4M$37.1M
Amortization of intangible assets$32.1M$32.8M
Interest expense (net)$2.0M$4.0M
Restructuring and business integration costs$2.5M$961.0K
Goodwill impairment$68.4M$0
Loss on sale, divestiture of subsidiary$0$99.0K
Loss before income tax-$86.5M-$6.3M
Current$563.0K$3.9M
Deferred-$6.0M-$5.2M
Net loss-$81.1M-$5.0M
Loss in fair value of interest rate swaps, net of tax-$173.0K-$561.0K
Foreign currency translation gain$120.0K$0
Comprehensive loss-$81.1M-$5.6M
Basic (in dollars per share)-$2.44-$0.15
Diluted (in dollars per share)-$2.44-$0.15
Basic (in shares)33.2M shares33.5M shares
Diluted (in shares)33.2M shares33.5M shares

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Corporate structure

Sangoma Technologies Corporation sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Sangoma Technologies Corporation

  • GLAZER CAPITAL, LLC Filed SCHEDULE 13G on Sangoma Technologies Corporation, latest Oct 9, 2026
  • ALPINE ASSOCIATES MANAGEMENT INC. Filed SCHEDULE 13G on Sangoma Technologies Corporation, latest Oct 7, 2026
  • Mawer Investment Management Ltd. Filed SCHEDULE 13G/A on Sangoma Technologies Corporation, latest Apr 6, 2026 (9 filings since Aug 4, 2022)
  • Pembroke Management, LTD Filed SC 13G/A on Sangoma Technologies Corporation, latest Feb 2, 2024 (3 filings since Feb 1, 2022)
  • Old Town Gelato, LLC Filed SC 13D on Sangoma Technologies Corporation, latest Jun 26, 2023
  • NSG III GP, LLC Filed SC 13D on Sangoma Technologies Corporation, latest May 10, 2023
  • Star2Star Holdings, LLC Filed SC 13G/A on Sangoma Technologies Corporation, latest Feb 6, 2023 (2 filings since Feb 8, 2022)
  • Sangoma Technologies Corporation Markham

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Sangoma Technologies Corporation reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$6.4M8 Jun 30, 2025$8.4M8 Jun 30, 2024−23.4%
Operating-lease assets (leased space)$7.2M8 Jun 30, 2025$10.2M8 Jun 30, 2024−29.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$13.5M8 Jun 30, 2025$16.2M8 Jun 30, 2024−16.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$186.8M8 Jun 30, 2025$187.5M8 Jun 30, 2024−0.4%
Intangible assets, net (excluding goodwill)$91.1M8 Jun 30, 2025$124.1M8 Jun 30, 2024−26.6%

Inventory

ItemLatestA year beforeChange
Inventory, total$8.2M8 Jun 30, 2025$14.8M8 Jun 30, 2024−44.3%

The story

Sangoma Corporation was founded in 1984 in Markham, Ontario, initially focusing on telecommunications hardware, such as telephony cards for voice and data connectivity. In the early 2000s, the company pivoted toward software-based solutions, leveraging the rise of VoIP and open-source telephony platforms like Asterisk. Sangoma listed on the Toronto Stock Exchange (TSX: STC) in 2008, a milestone that facilitated further expansion. Its 2021 listing on NASDAQ (SANG) marked its entry into the U.S. market, supporting its global growth strategy. The company’s acquisitions of FreePBX, Digium, Star2Star, and Netfortris have solidified its leadership in the open-source telephony and CaaS markets. In [year, e.g., 2024; source needed], the company rebranded from Sangoma Technologies Corporation to Sangoma Corporation to align with its evolved business focus.

From Wikipedia’s article on Sangoma Technologies Corporation, shared under CC BY-SA 4.0.6

Products and brands

  • networking hardware

Listed on Wikidata.1

Products and services

Sangoma provides a comprehensive suite of Communications as a Service (CaaS) solutions, VoIP hardware, and software, targeting small to medium-sized businesses (SMBs), enterprises, and service providers. Its offerings include:

Cloud Communications (CaaS)

Sangoma’s cloud-based unified communications as a service (UCaaS) solutions integrate voice, video, and messaging to enhance business connectivity. Key products include:

Sangoma Meet: A multi-party video conferencing platform designed for remote collaboration, offering features like screen sharing and recording.

Sangoma Phone: A desktop and mobile softphone application that supports voice calls, SMS/MMS, and call forwarding, integrated with Sangoma’s UCaaS platform.

Read the full text

Sangoma CX: A cloud-native contact center suite for managing inbound interactions across multiple channels, including voice, email, and chat.

Sangoma TeamHub: A unified communications and collaboration platform that enhances business productivity through integrated messaging and file sharing.

VoIP Hardware

Sangoma manufactures telephony cards, gateways, session border controllers (SBCs), and Wi-Fi access points to support VoIP infrastructure. These products enable integration with on-premises and cloud-based systems.

Open-Source Software

Sangoma is the primary developer and sponsor of:

Asterisk: An open-source framework for building real-time communication applications.

FreePBX: A web-based GUI for managing Asterisk, widely used in third-party distributions like AsteriskNOW and Incredible PBX.

PBXact: A commercial UC system built on FreePBX, tailored for enterprise-grade deployments.

Managed Services

Sangoma offers managed connectivity, network, and security services, including SD-WAN, VPN, and firewall solutions with features like antivirus protection and intrusion prevention.

Operations

Sangoma is headquartered in Markham, Ontario, Canada, with additional offices in the United States (Huntsville, Alabama) and other regions following its acquisitions. As of 2025, Sangoma generates trailing twelve-month revenue of $238 million and has a market capitalization of $185 million. The company employs approximately [employee count, e.g., 500; source needed] staff globally. Sangoma serves over 100,000 customers across more than 2.7 million UC seats, primarily targeting SMBs, enterprises, and service providers in North America, Europe, and Asia. Its products are distributed through a global network of resellers, system integrators, and cloud service providers.

From Wikipedia’s article on Sangoma Technologies Corporation, shared under CC BY-SA 4.0.6

Acquisitions

Sangoma has expanded its portfolio through strategic acquisitions, strengthening its position in the UCaaS and VoIP markets.

FreePBX (2015): On January 2, 2015, Sangoma acquired Schmooze, the publisher of FreePBX, a widely used open-source GUI for managing Asterisk-based PBX systems. This acquisition enhanced Sangoma’s software offerings, making it a leader in open-source telephony solutions. [Additional source: e.g., TechCrunch article on FreePBX acquisition; source needed.]

Digium, Inc. (2018): On September 5, 2018, Sangoma acquired Digium, the creator of Asterisk, based in Huntsville, Alabama. This move solidified Sangoma’s control over the Asterisk ecosystem and expanded its U.S. presence.

Star2Star Communications (2021): On March 29, 2021, Sangoma acquired Star2Star Communications through its subsidiary, Sangoma US Inc. This acquisition strengthened Sangoma’s UCaaS portfolio, adding Star2Star’s cloud-native communication solutions and expanding its customer base to over 2.7 million UC seats. The deal positioned Sangoma as a stronger competitor in the cloud communications market.

Read the full text

NetFortris (2022): On 2022, Sangoma acquired NetFortris, a U.S.-based provider of cloud communications, secure network services, and SD-WAN solutions. This acquisition expanded Sangoma’s UCaaS and managed services portfolio, strengthening its presence in the North American market and enhancing its capabilities in delivering end-to-end business communications solutions.

These acquisitions have supported Sangoma’s strategy to grow its UCaaS market share, enhance its cloud-based offerings, and expand its network infrastructure capabilities.

From Wikipedia’s article on Sangoma Technologies Corporation, shared under CC BY-SA 4.0.6

Timeline

  1. 1984Founded Founded1

Calendar

Coming up

  1. Nov 9, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.06) a share, on Nov 10, 2025.13

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

83 filings to the SEC since October 2021: 6 annual reports, 18 large holders, 59 other. The latest 20:

  1. Oct 9, 2026SCHEDULE 13G EDGAR
  2. Oct 7, 2026SCHEDULE 13G EDGAR
  3. Oct 2, 20266-K EDGAR
  4. Sep 29, 20266-K EDGAR
  5. Sep 28, 202640-F EDGAR
  6. Jun 4, 20266-K EDGAR
  7. May 29, 2026SD EDGAR
  8. May 13, 20266-K EDGAR
  9. Apr 6, 2026SCHEDULE 13G/A EDGAR
  10. Feb 4, 20266-K EDGAR
  11. Dec 16, 20256-K EDGAR
  12. Nov 26, 20256-K EDGAR
  13. Nov 12, 2025SCHEDULE 13G/A EDGAR
  14. Nov 10, 20256-K EDGAR
  15. Oct 20, 20256-K EDGAR
  16. Sep 17, 202540-F EDGAR
  17. Sep 17, 20256-K EDGAR
  18. Jun 6, 2025SCHEDULE 13G/A EDGAR
  19. May 30, 2025SD EDGAR
  20. May 9, 2025SCHEDULE 13G/A EDGAR

The 83 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
PenderFund Capital Management Ltd.4,386,194$16.7M7.5%+1,565,261
Intact Investment Management Inc.694,925$2.7M0.1%−22,500
Ewing Morris & Co. Investment Partners Ltd.668,854$2.6M1.3%+600
Ppm America Inc/il688,523$2.5M16.9%No change
TD Waterhouse Canada Inc.457,133$1.7M0.0%No change
Connor, Clark & Lunn Investment Management Ltd.216,333$809.1K0.0%−18,500
Arrowstreet Capital, Limited Partnership146,429$558.0K0.0%−25,279
Goldman Sachs Group Inc39,759$149.9K0.0%+4,998
Royal Bank Of Canada35,210$133.0K0.0%−25,110
National Bank Of Canada /fi/31,338$110.4K0.0%−65,925
Susquehanna International Group, Llp22,008$81.4K0.0%−1,955
Citadel Advisors LLC20,913$77.4K0.0%+8,354
Morgan Stanley19,700$74.3K0.0%−100
Jane Street Group, LLC18,613$69.6K0.0%New
Legacy Advisors, LLC10,000$38.1K0.0%No change
Bard Associates Inc3,800$14.3K0.0%−55,888
Federation des caisses Desjardins du Quebec1,834$6.5K0.0%+24
Tower Research Capital LLC (TRC)1,046$3.9K0.0%−2,190
UBS Group AG190$7160.0%−22
Acadian Asset Management LLC164,292$6170.0%−300
SBI Securities Co., Ltd.3$110.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Sangoma Technologies Corporation is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSangoma Technologies Corp2
  • CIK0001753368
  • Employer ID (EIN)98-06423162
  • Filer status<br>emerging growth company an emerging growth company2
  • Incorporated inOntario21
  • Fiscal year endsJune 302
  • Industry code (SIC)7370 Services-Computer Programming, Data Processing, Etc.2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address100 Renfrew Drive, Suite 100, Markham, A6 L3R 9R62
  • Phone800-388-24752
  • Shares outstanding33,338,932 shares as of Jun 30, 202621
  • AuditorKPMG LLP, Vaughan, Canada PCAOB ID 85; no auditor attestation of internal control over financial reporting21
  • On EDGAR sinceSep 19, 20182
  • Filings84 in all: 6-K (44), SC 13G/A (6), 40-F (5), SCHEDULE 13G/A (5), SD (4), SC 13G (3), SC 13D (2), SCHEDULE 13G (2)2
    All 21 form types

    40-F/A (1), 424B7 (1), 8-A12B (1), CERT (1), CORRESP (1), D (1), EFFECT (1), F-10 (1), F-10/A (1), F-3 (1), F-X (1), S-8 (1), UPLOAD (1)

  • Latest filingsAnnual report (40-F) Sep 28, 2026

Securities registered for trading

ClassSymbolExchange
Common Shares, no par valueSANGNasdaq Global Select Market
Common Shares, no par valueSTC

From the cover page of the 40-F filed Sep 28, 2026 (Section 12(b) of the Exchange Act).21

Sources

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