TORONTO - Sangoma Technologies Corporation (TSX: STC; Nasdaq: SANG), a provider of cloud-based Communications-as-a-Service solutions, today announced the addition of April Walker to its Board of Directors, effective July 1, 2024. The appointment is part of the company's ongoing strategy to enhance its governance and drive growth within the digital communications sector.
Walker, a seasoned executive with over three decades of experience in the technology industry, joins Sangoma from Salesforce (NYSE:CRM), where she served as Senior Vice President of Customer Success. Her career is marked by a commitment to digital innovation and the adoption of advanced technologies. Walker's expertise is expected to support Sangoma's mission to deliver state-of-the-art communication solutions to businesses.
Norman Worthington, Chair of the Board at Sangoma, expressed confidence in Walker's ability to contribute to the company's success, citing her extensive background and leadership in customer success and digital transformation.
Walker's professional history includes significant roles at Microsoft (NASDAQ:MSFT), MetLife (NYSE:MET), and NBCUniversal, focusing on IT services, infrastructure development, and customer engagement. Her academic credentials include an MBA, an Executive Certification in Artificial Intelligence from MIT Sloan School of Management, and a Master of Science in Engineering Management from The George Washington University.
In her statement, Walker expressed enthusiasm about joining Sangoma's board and contributing to the company's growth and industry positioning. Her appointment is seen as a strategic move by Sangoma to reinforce its commitment to excellence and innovation in the communications platform market.
Sangoma, with over 40 years in the industry, supports more than 2.6 million UC seats and over 100,000 customers worldwide. The company is also known for its development and sponsorship of the open-source projects Asterisk and FreePBX. Its product suite includes Unified Communications as a Service (UCaaS), Contact Center as a Service (CCaaS), Communications Platform as a Service (CPaaS), and Trunking technologies, along with managed services for connectivity, network, and security.
This news is based on a press release statement from Sangoma Technologies Corporation.
In other recent news, Sangoma Technologies Corporation has reported notable developments. The company has appointed Monica Walton as the new Chief Revenue Officer. Walton, known for her extensive experience and industry recognition, is expected to bolster Sangoma's growth strategy and leadership team.
Simultaneously, Sangoma has disclosed its third-quarter earnings for fiscal year 2024, highlighting steady EBITDA growth. The company reported revenue of $61 million and an adjusted EBITDA of $11 million. Despite a slight dip in product revenue, Sangoma generated $15.5 million in net cash from operating activities.
These developments coincide with Sangoma's strategic transformation, which includes a focus on debt repayment, strategic investments, and potential mergers and acquisitions. The company has reaffirmed its full-year guidance, projecting revenues between $246.5 million and $248.5 million, and an adjusted EBITDA between $41.5 million and $43.5 million. Analysts have noted these figures as the company continues to navigate its strategic shift towards services.
InvestingPro Insights
Sangoma Technologies Corporation (SANG) has recently shown a strong performance in the market, with notable metrics to consider for investors following the company's latest strategic moves. Here are some key insights from InvestingPro:
InvestingPro Data:
- Sangoma boasts a market capitalization of $184.44M, reflecting its stance in the market.
- The company's price to book ratio stands at 0.71 as of the last twelve months leading up to Q3 2024, indicating that the stock might be undervalued relative to its assets.
- Sangoma has experienced a significant 6-month price total return of 68.71%, with a year-to-date return of 71.88%, showcasing strong recent performance.
InvestingPro Tips:
- Investors might find Sangoma's high shareholder yield attractive, which is indicative of the company's commitment to generating value for its shareholders.
- Despite not paying dividends, analysts predict the company will be profitable this year, which could signal a turning point for Sangoma's financial trajectory.
For those looking to delve deeper into Sangoma's financials and future outlook, there are an additional 11 InvestingPro Tips available that can provide a comprehensive analysis of the company's performance and potential. To explore these tips and gain a more detailed understanding of Sangoma, visit https://www.investing.com/pro/SANG and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.