Sangoma’s Q3 Results Show Cash Surge Amid Services Shift
Company Announcements

Sangoma’s Q3 Results Show Cash Surge Amid Services Shift

Sangoma Technologies (TSE:STC) has released an update.

Sangoma Technologies has reported a substantial 121% increase in net cash from operating activities for Q3 FY2024, despite a slight decline in revenue and gross profit compared to the previous year. The company’s shift towards a service-oriented revenue model is on track, with services now comprising 82% of total revenue. Sangoma’s CEO expressed satisfaction with the company’s direction and performance, highlighting a strong balance sheet and adherence to debt covenants.

For further insights into TSE:STC stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks Auto-Generated NewsdeskSangoma Technologies Shows Asset Decline but Equity Gains
TipRanks Auto-Generated NewsdeskSangoma Technologies Announces Annual Meeting Details
TheFlySangoma Technologies price target raised to C$10 from C$8 at TD Securities
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App