The following is a summary of the Sangoma Technologies Corporation (SANG) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Sangoma reported Q2 2024 revenue of $62.3 million, a slight decrease compared to the same period a year ago, and a 1% decrease sequentially.

• Product revenue decreased 3% sequentially to $11.6 million, accounting for 19% of total quarterly revenue.

• Gross profit rose to $44 million, up 3% compared to the same period last year, with a gross margin increase of 2% to 71%.

• Operating expenses amounted to $44.5 million, down from $45 million in the first quarter.

• The company reported a net loss of $3.2 million. The company also reported a 17% sequential increase in cash flow from operations.

• The company has resumed forward financial guidance, predicting fiscal 2024 revenue to range between $245 million to $250 million, and adjusted EBITDA to be in the range of $41 million to $44 million.

• For Q2, the company reported total revenues of $62.3 million and adjusted EBITDA of $10.4 million, with a 17% margin.

Business Progress:

• Sangoma is in a transformative phase, focusing on internal integration that allows the company to bundle its component technologies, targeting more sophisticated and larger clients.

• The company has made substantial progress in its evolution into a cloud-based managed communications services provider.

• Sangoma has made key changes to the leadership team and streamlined its functions for increased agility and innovation.

• The company has made significant improvements in their internal operations and efficiency.

• Mark Strachan was appointed as the company's first-ever CIO and, Maria, a new Head of Marketing, has also been added to the team to help strengthen Sangoma's brand in the industry.

• Sangoma has reimagined its market strategy and its product offerings are being rejuvenated with new bundles; they aim to complete their customer support enhancements by the end of this fiscal year.

More details: Sangoma Technologies IR

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