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