William Blair initiated research coverage of Sangoma Technologies Corporation (SANG $7.01), a managed service provider with a complete range of integrated, built-in-house solutions for businesses.
Analysts Jim Breen and Matt Stotler estimated that the company would generate revenue of $230.2 million, adjusted EBITDA of $43.1 million, and a loss per share of $0.51 in fiscal 2022; and revenue of $285.3 million, adjusted EBITDA of $53.2 million, and a loss per share of $0.47 in fiscal 2023.
“Sangoma is a communications company that provides a complete range of integrated, in-house–developed communications and collaboration solutions for businesses of all sizes,” Breen said. “The company competes at the value-based segment of the market, which ranges from small businesses to large enterprises that are looking to benefit from the advantages of cloud-based communications at a fair price point. Sangoma offers a broad portfolio of communications solutions that span cloud-based services, on-premises solutions, and hybrid solutions.”
Stotler added, “Sangoma strives to be a one-stop communications services solution with differentiated functionality, value, and IT management simplicity for customers. By offering cloud, on-premises, and hybrid deployment options, the company is also able to meet the needs of customers who are not yet comfortable migrating to a fully cloud-based solution across their entire organizations. This enables Sangoma to begin establishing relationships with customers at an early stage of their cloud migration processes. Sangoma’s solutions are used worldwide by companies of all sizes and in contact center, carrier networks, and data communication applications. The company has over 100,000 customers in over 100 countries and 750 employees that have a local presence in 20 countries.”
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Current Ratings Distribution (as of 9/21/22)
Outperform (Buy): 73%
Market Perform (Hold): 26%
Underperform (Sell): 1%
Inv. Banking Relationships*
Outperform (Buy): 15%
Market Perform (Hold): 4%
Underperform (Sell): 0%
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