MARKHAM, ONTARIO, August 2, 2018 – Sangoma Technologies Corporation (TSXV:STC), a trusted leader in delivering Unified Communications solutions for SMBs, Enterprises, OEMs, and Service Providers, both on-premises and in the cloud, today announced preliminary unaudited revenue for the fourth quarter of fiscal 2018 ended June 30, 2018.
Sales for the fourth quarter of fiscal 2018 are expected to be approximately $17.5 million, more than double that of the same quarter last year, and about 8% above the immediately preceding third quarter of fiscal 2018. Revenue for the full year of fiscal 2018 is expected to be over $57 million, also more than twice that of fiscal 2017 and above prior guidance of $55 million for the year with EBITDA expected to somewhat exceed the previous guidance of $6 million.
“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 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 proud of our results this year and very pleased that we have finished on a strong note”, said Bill Wignall, President and CEO of Sangoma. “Sales have continued to grow across the portfolio, profitability has expanded such that we’re now generating about $2 million per quarter in EBITDA, our cloud revenue is growing at over 30% per year, and we successfully closed two significant acquisitions in fiscal 2018. I look forward to sharing full financial results with our investors in a few months and continuing with our strategy of increasing shareholder value via a combination of organic growth and Mu0026amp;A opportunities that are complementary to our business.”