MARKHAM, ONTARIO, August 1, 2019 – Sangoma Technologies Corporation (TSXV:STC), a trusted leader in delivering Unified Communications solutions, both in the cloud and on-premises, and the provider of the two most widely used open source communications software products in the world today announced preliminary unaudited revenue for the fourth quarter of fiscal 2019 ended June 30, 2019.
Sales for the fourth quarter of fiscal 2019 are expected to be approximately $30.1 million, more than 70% above the same quarter last year. Revenue for the full year of fiscal 2019 is expected to be over $109 million, almost twice that of fiscal 2018 and above prior guidance for the year.
“Many of our shareholders seek information about our fourth quarter, before the full audit cycle is completed”, noted David Moore, Sangoma’s Chief Financial Officer. “This release of expected revenue is a way for us to accelerate disclosure on the top line, given Sangoma will announce our full financial results in October as usual, after the completion of our annual audit. At that point, we will hold a conference call with investors to discuss the results in detail.”
“I am very proud of our results this year and pleased that we have finished on a very strong note”, said Bill Wignall, President and CEO of Sangoma. “Sales have continued to grow to the point where we’ve exceeded $30 million in quarterly revenue for the first time, assisted by a significant one-time order this quarter. We are now officially a $100 million revenue company, EBITDA is expanding nicely as expected, our recurring revenue is at an all time high, and we successfully closed the transformative acquisition of Digium in fiscal 2019. I look forward to sharing full fiscal 2019 results with our shareholders in a few months once our audit is complete, at which time we will provide guidance on fiscal 2020. We remind investors of the typical seasonality that we see in our first quarter, the one where revenue is usually lower than the prior year’s fourth quarter, due to the softer summer period.”
In addition, Sangoma is pleased to announce that it has appointed Gateway Investor Relations (formerly Liolios), a leading strategic financial communications and capital markets advisory firm, to provide investor relations and consulting services.
Gateway is a U.S.-based investor relations firm specializing in advising public companies across a broad range of industry classifications. Founded in 1999, the firm provides high-level capital markets consulting, corporate communications, and investor and analyst outreach. The firm is also specifically experienced in helping Canadian companies access and navigate the U.S. capital markets.
Under the terms of the engagement, Sangoma will compensate Gateway USD$8,000 per month, with an initial three (3) month term, which converts to a month-to-month agreement beyond the initial term. No common shares or securities convertible into common shares are being offered to Gateway as part of the engagement.