Income Statement Sangoma Technologies Corporation

Equities

STC

CA80100R4089

Communications & Networking

Market Closed - Toronto S.E. Other stock markets 04:00:00 2024-09-13 pm EDT			5-day change	1st Jan Change
7.360 ^CAD	+2.94%		+4.03%	+73.58%

Jul. 22	Sangoma Technologies Up 4% as Provides Updates on Debt Reduction, Strategic Initiatives	MT
Jul. 22	Sangoma Technologies Provides Updates on Debt Reduction, Strategic Initiatives	MT

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Published financial data: SANGOMA TECHNOLOGIES CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: June	2019	2020	2021	2022	2023
Revenues	110M	131M	167M	224M	253M
Total Revenues	110M	131M	167M	224M	253M
Cost of Goods Sold, Total	42.82M	46.51M	53.39M	67.46M	79.74M
Gross Profit	66.83M	84.91M	114M	157M	173M
Selling General & Admin Expenses, Total	38.76M	50.81M	78.84M	128M	138M
R&D Expenses	20.75M	23.91M	27.19M	34.16M	37.47M
Other Operating Expenses, Total	59.51M	74.72M	106M	162M	176M
Operating Income	7.32M	10.19M	7.92M	-5.53M	-2.96M
Interest Expense, Total	-1.38M	-2.53M	-2.47M	-3.88M	-6.81M
Interest And Investment Income	13.76K	53.17K	49.21K	12K	41K
Net Interest Expenses	-1.37M	-2.48M	-2.42M	-3.86M	-6.77M
Currency Exchange Gains (Loss)	-274K	-54.14K	158K	-358K	15K
EBT, Excl. Unusual Items	5.67M	7.66M	5.66M	-9.75M	-9.72M
Restructuring Charges	-	-	-	-	-2.71M
Merger & Related Restructuring Charges	-2.79M	-2.58M	-4.89M	-4.16M	-
Impairment of Goodwill	-	-	-	-91.68M	-22.51M
Other Unusual Items	-	-	5.16M	1.2M	2.98M
EBT, Incl. Unusual Items	2.88M	5.08M	5.94M	-104M	-31.96M
Income Tax Expense	1.34M	1.17M	5.17M	6.39M	-2.93M
Earnings From Continuing Operations	1.54M	3.9M	767K	-111M	-29.03M
Net Income to Company	1.54M	3.9M	767K	-111M	-29.03M
Net Income - (IS)	1.54M	3.9M	767K	-111M	-29.03M
Net Income to Common Incl Extra Items	1.54M	3.9M	767K	-111M	-29.03M
Net Income to Common Excl. Extra Items	1.54M	3.9M	767K	-111M	-29.03M
Per Share Items
Net EPS - Basic	0.21	0.38	0.05	-3.52	-0.88
Basic EPS - Continuing Operations	0.21	0.38	0.05	-3.52	-0.88
Basic Weighted Average Shares Outstanding	7.28M	10.2M	16.25M	31.48M	33.12M
Net EPS - Diluted	0.2	0.38	0.03	-3.52	-0.88
Diluted EPS - Continuing Operations	0.2	0.38	0.03	-3.52	-0.88
Diluted Weighted Average Shares Outstanding	7.72M	10.37M	29.18M	31.48M	33.12M
Normalized Basic EPS	0.49	0.47	0.22	-0.19	-0.18
Normalized Diluted EPS	0.46	0.46	0.12	-0.19	-0.18
Supplemental Items
EBITDA	10.87M	16.43M	18.26M	13.14M	18.03M
EBITA	10.44M	15.73M	17.14M	9.99M	13.3M
EBIT	7.32M	10.19M	7.92M	-5.53M	-2.96M
EBITDAR	-	16.74M	18.57M	-	-
Effective Tax Rate - (Ratio)	46.55	23.08	87.08	-6.12	9.17
Total Current Taxes	2.18M	1.65M	2.49M	3.98M	-172K
Total Deferred Taxes	-843K	-480K	2.69M	2.41M	-2.76M
Normalized Net Income	3.55M	4.79M	3.54M	-6.09M	-6.07M
Interest on Long-Term Debt	-	482K	479K	3.08M	7.24M
Supplemental Operating Expense Items
Selling and Marketing Expenses	16.91M	20.56M	31.02M	53.06M	61.92M
General and Administrative Expenses	21.85M	30.25M	47.82M	75.2M	76.36M
Research And Development Expense From Footnotes	23.92M	26.77M	35M	51.54M	57.86M
Net Rental Expense, Total	-	310K	301K	-	-
Imputed Operating Lease Interest Expense	-	138K	66.48K	-	-
Imputed Operating Lease Depreciation	-	171K	235K	-	-
Stock-Based Comp., G&A Exp. (Total)	-	-	4.68M	-	-
Stock-Based Comp., Other (Total)	408K	402K	-	9.93M	3.1M
Total Stock-Based Compensation	408K	402K	4.68M	9.93M	3.1M

Fiscal Period: June	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	11.72M	27.25M	27.39M	12.7M	11.16M
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	11.72M	27.25M	27.39M	12.7M	11.16M
Accounts Receivable, Total	12.04M	12.32M	19.18M	17.27M	17.82M
Other Receivables	-	-	821K	7.9M	9.04M
Total Receivables	12.04M	12.32M	20M	25.17M	26.86M
Inventory	11.11M	12.64M	14.65M	17.43M	17.97M
Other Current Assets, Total	1.95M	2.38M	4.09M	5.71M	5.64M
Total Current Assets	36.83M	54.59M	66.12M	61.01M	61.62M
Gross Property Plant And Equipment	3.94M	24.54M	34.62M	38.94M	40.91M
Accumulated Depreciation	-1.59M	-5.62M	-8.5M	-11.74M	-18.63M
Net Property Plant And Equipment	2.34M	18.92M	26.12M	27.2M	22.28M
Goodwill	21.41M	44.01M	331M	210M	188M
Other Intangibles, Total	29.54M	50.46M	241M	191M	157M
Accounts Receivable Long-Term	-	-	1.06M	2.57M	2.91M
Deferred Tax Assets Long-Term	4.18M	5.29M	2.54M	2.76M	3.21M
Deferred Charges Long-Term	2.12M	2.45M	1.9M	2.86M	6.57M
Other Long-Term Assets, Total	-	-	-	709K	1.19M
Total Assets	96.41M	176M	670M	499M	443M
Liabilities
Accounts Payable, Total	14.62M	14.18M	27.71M	28.57M	24.08M
Accrued Expenses, Total	264K	813K	1.63M	5.9M	5.59M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	3.92M	17.7M	18.45M	17.7M	17.7M
Current Portion of Leases	-	2.95M	3M	3.59M	2.72M
Current Income Taxes Payable	1.42M	2.64M	-	1.88M	61K
Unearned Revenue Current, Total	10.72M	10.77M	14.14M	11.58M	10.91M
Other Current Liabilities	557K	663K	3.44M	9.19M	2.13M
Total Current Liabilities	31.51M	49.71M	68.38M	78.41M	63.19M
Long-Term Debt	18.81M	33.59M	74.88M	86.92M	83.12M
Long-Term Leases	-	13.67M	14.65M	14.4M	11.61M
Unearned Revenue Non Current	4.26M	3.97M	5.38M	3.49M	3.64M
Deferred Tax Liability Non Current	-	-	30.69M	16.66M	14.3M
Other Non Current Liabilities	-	-	9.52M	4.85M	766K
Total Liabilities	54.58M	101M	204M	205M	177M
Common Stock, Total	34.86M	64.63M	226M	203M	380M
Additional Paid In Capital	2.51M	2.44M	6.93M	15.06M	18.13M
Retained Earnings	4.48M	8.41M	9.18M	-104M	-133M
Comprehensive Income and Other	-24.82K	-692K	224M	180M	1.34M
Total Common Equity	41.83M	74.78M	466M	294M	266M
Total Equity	41.83M	74.78M	466M	294M	266M
Total Liabilities And Equity	96.41M	176M	670M	499M	443M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	9.7M	15.87M	19.02M	22.29M	33.18M
ECS Total Common Shares Outstanding	7.57M	10.87M	19.02M	21.44M	33.04M
Book Value / Share	5.53	6.88	24.51	13.7	8.05
Tangible Book Value	-9.11M	-19.69M	-106M	-108M	-78.85M
Tangible Book Value Per Share	-1.2	-1.81	-5.56	-5.02	-2.39
Total Debt	22.73M	67.91M	111M	123M	115M
Net Debt	11.01M	40.66M	83.59M	110M	104M
Debt Equivalent Oper. Leases	-	2.48M	2.41M	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	3.32M	4.6M	4.84M	5.16M	5.23M
Inventories - Finished Goods, Total	7.95M	8.38M	10.44M	13.19M	13.86M
Buildings, Total	-	-	-	-	12.87M
Machinery, Total	3.58M	4.54M	11.93M	15.23M	5.41M
Full Time Employees	-	330	-	726	748
Accumulated Allowance for Doubtful Accounts (Supple)	287K	588K	1.36M	2.28M	1.57M

Fiscal Period: June	2019	2020	2021	2022	2023
Net Income	1.54M	3.9M	767K	-111M	-29.03M
Depreciation & Amortization - CF	432K	4.07M	4.34M	6.46M	8.51M
Amortization of Goodwill and Intangible Assets - (CF)	3.12M	5.54M	9.22M	15.51M	16.26M
Depreciation & Amortization, Total	3.55M	9.61M	13.56M	21.97M	24.77M
Amortization of Deferred Charges, Total - (CF)	3.18M	2.91M	7.81M	17.38M	20.38M
(Gain) Loss From Sale Of Asset	-	-	-	266K	409K
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	91.68M	22.51M
Stock-Based Compensation (CF)	408K	402K	4.68M	9.93M	3.1M
Other Operating Activities, Total	659K	-1.85M	-5.18M	3.89M	-8.86M
Change In Accounts Receivable	-2.63M	900K	-2.14M	-643K	-896K
Change In Inventories	-927K	-931K	-1.37M	-5.19M	-544K
Change In Accounts Payable	3.15M	-3.11M	4.64M	-3.23M	-4.49M
Change in Unearned Revenues	22.77K	-1.69M	-768K	-2.35M	-516K
Change In Income Taxes	979K	1.14M	-3.31M	-	-
Change In Deferred Taxes	-	-	-	-	-
Change in Other Net Operating Assets	1.53M	639K	770K	-1.86M	-338K
Cash from Operations	11.46M	11.91M	19.47M	21.06M	26.49M
Capital Expenditure	-293K	-628K	-1.4M	-1.87M	-4.02M
Cash Acquisitions	-31.9M	-39.29M	-133M	-50.71M	-
Sale (Purchase) of Intangible assets	-2.16M	-1.97M	-2.11M	-3.24M	-7.25M
Cash from Investing	-34.35M	-41.88M	-136M	-55.82M	-11.27M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	21.1M	54.98M	66.02M	45M	13.9M
Total Debt Issued	21.1M	54.98M	66.02M	45M	13.9M
Long-Term Debt Repaid, Total	-2.91M	-32.1M	-22.04M	-18.74M	-21.77M
Total Debt Repaid	-2.91M	-32.1M	-22.04M	-18.74M	-21.77M
Issuance of Common Stock	849K	22.3M	75.56M	532K	44K
Repurchase of Common Stock	-	-	-	-	-605K
Other Financing Activities, Total	-	-	-	-1.42M	-8.33M
Cash from Financing	19.04M	45.18M	120M	25.37M	-16.77M
Foreign Exchange Rate Adjustments	-196K	318K	-2.61M	-	-
Miscellaneous Cash Flow Adjustments	1	-	-	-	-
Net Change in Cash	-4.05M	15.53M	135K	-9.39M	-1.55M
Supplemental Items
Cash Income Tax Paid (Refund)	801K	119K	3.31M	1.56M	4.02M
Levered Free Cash Flow	15.3M	14.35M	31.99M	40.49M	13.67M
Unlevered Free Cash Flow	16.16M	15.93M	33.53M	42.91M	17.92M
Change In Net Working Capital	-6.91M	762K	-6.04M	-2.19M	17.2M
Net Debt Issued / Repaid	18.19M	22.88M	43.98M	26.26M	-7.87M

Fiscal Period: June	2019	2020	2021	2022	2023
Profitability
Return on Assets	6.18	4.68	1.17	-0.66	-0.39
Return on Total Capital	8.76	6.15	1.38	-0.78	-0.46
Return On Equity %	3.99	6.7	0.28	-33.07	-10.37
Return on Common Equity	3.99	6.7	0.28	-33.07	-10.37
Margin Analysis
Gross Profit Margin %	60.95	64.61	68.1	69.93	68.42
SG&A Margin	35.35	38.66	47.11	57.17	54.76
EBITDA Margin %	9.91	12.5	10.91	5.86	7.14
EBITA Margin %	9.52	11.97	10.24	4.45	5.27
EBIT Margin %	6.67	7.75	4.73	-2.46	-1.17
Income From Continuing Operations Margin %	1.4	2.97	0.46	-49.38	-11.49
Net Income Margin %	1.4	2.97	0.46	-49.38	-11.49
Net Avail. For Common Margin %	1.4	2.97	0.46	-49.38	-11.49
Normalized Net Income Margin	3.23	3.64	2.11	-2.72	-2.4
Levered Free Cash Flow Margin	13.95	10.92	19.11	18.05	5.41
Unlevered Free Cash Flow Margin	14.74	12.12	20.03	19.13	7.1
Asset Turnover
Asset Turnover	1.48	0.97	0.4	0.43	0.54
Fixed Assets Turnover	70.13	12.36	7.43	9.29	10.21
Receivables Turnover (Average Receivables)	11.38	10.79	10.78	13.7	14.39
Inventory Turnover (Average Inventory)	4.8	3.92	3.91	4.61	4.51
Short Term Liquidity
Current Ratio	1.17	1.1	0.97	0.78	0.98
Quick Ratio	0.75	0.8	0.69	0.48	0.6
Operating Cash Flow to Current Liabilities	0.36	0.24	0.28	0.27	0.42
Days Sales Outstanding (Average Receivables)	32.07	33.92	33.87	26.64	25.36
Days Outstanding Inventory (Average Inventory)	76.04	93.48	93.3	79.11	81.01
Average Days Payable Outstanding	85.01	109.72	138.02	127.2	119.67
Cash Conversion Cycle (Average Days)	23.1	17.68	-10.85	-21.45	-13.3
Long Term Solvency
Total Debt/Equity	54.34	90.81	23.8	41.73	43.27
Total Debt / Total Capital	35.21	47.59	19.23	29.44	30.2
LT Debt/Equity	44.96	63.2	19.2	34.49	35.6
Long-Term Debt / Total Capital	29.13	33.12	15.51	24.33	24.85
Total Liabilities / Total Assets	56.61	57.45	30.39	41.07	39.89
EBIT / Interest Expense	5.28	4.03	3.21	-1.43	-0.44
EBITDA / Interest Expense	7.85	7.82	8.71	4.24	3.2
(EBITDA - Capex) / Interest Expense	7.64	7.58	8.14	3.76	2.61
Total Debt / EBITDA	2.09	3.43	5.17	7.46	5.28
Net Debt / EBITDA