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MARKHAM, Ontario - Sangoma Technologies Corporation (TSX:STC; Nasdaq:SANG), a $194 million market cap company with annual revenues of $238 million, announced Tuesday it has expanded its use of Amazon Web Services (AWS) to deliver cloud communications solutions to business customers. According to InvestingPro data, the company maintains a strong gross profit margin of nearly 69%.
The company is utilizing multiple AWS services including Amazon EKS, EC2, RDS, ElastiCache, ECR, S3, Route 53, and AWS Secrets Manager to power its Cloud UCaaS platform (Business Voice) and contact center solutions. While the company faces profitability challenges in recent quarters, InvestingPro analysis reveals several positive indicators about its business model and market position.
"Our customers want simplicity and performance without compromise," said Charles Salameh, CEO of Sangoma, according to the press release. "With our services powered by AWS, businesses are able to consolidate their communications needs with one trusted provider - on highly reliable cloud infrastructure."
The announcement highlighted two implementation examples: a healthcare provider supporting remote patient coordination and a breakfast restaurant chain with hundreds of locations. Both organizations use Sangoma’s UCaaS and Contact Center solutions on AWS.
Steve Teitelbaum, Head of Telco for North America at AWS, stated, "Sangoma’s implementation of AWS helps organizations modernize communications, reduce costs, and run operations with confidence."
Sangoma’s cloud services on AWS aim to provide global scalability, security, and integration capabilities for businesses. The company offers unified communications, contact center, and communications platform solutions available for cloud, hybrid, or on-premises deployments.
Sangoma Technologies Corporation, which has over 2.7 million UC seats across more than 100,000 customers according to the company statement, trades on both the Toronto Stock Exchange and Nasdaq. Currently trading at $5.81, analysts maintain a bullish outlook on the stock, with InvestingPro analysis suggesting the shares may be undervalued based on their Fair Value model. For deeper insights and additional ProTips about Sangoma’s financial health and market position, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Sangoma Technologies Corporation has entered into a strategic partnership with Quicklert. This collaboration is focused on enhancing safety and communication systems within the education sector. The partnership aims to assist educational institutions in meeting safety requirements, including Alyssa’s Law, which mandates the installation of silent panic alarms in public schools to notify law enforcement during emergencies. The initiative is expected to expand its focus to include healthcare, government, hospitality, and retail sectors. This move represents a significant step in addressing safety needs across various industries. The partnership highlights Sangoma Technologies’ commitment to improving safety infrastructure. These recent developments are part of the company’s ongoing efforts to innovate and expand its market reach.
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