“Fiscal 2018 has been transformative for Sangoma, with revenue, EBITDA and EPS all more than doubling year-over-year”, said Bill Wignall, President and CEO of Sangoma. “It is great to see the combination of intrinsic growth and the two acquisitions closed in 2018, producing the expected impact on the top line with sales exceeding $17m for the first time in Q4, and delivering EBITDA of over $2.5m for the quarter. I’m thrilled about Sangoma’s prospects following the Digium acquisition, and I’d like to thank everyone at the combined company for their dedication and cooperation, as we work through the integration phase, a process that is going very well so far. Overall, fiscal 2018 was an extremely positive year for Sangoma. The entire team here is eager to deliver a $100m business in 2019 and excited to have grown the company to that stage.”
Gross profit was $30.91 million in fiscal 2018. This produced gross margins of 54% of revenue for the year, a figure that is expected to increase further in fiscal 2019.
Operating expenses were $26.24 million in 2018, up 63% from fiscal 2017, reflecting the additional expense following the 2018 acquisitions, but down significantly as a percentage of revenue from 2017.