SEDAR Interim Financial Statements

[
  {
    "companyName": "Sangoma Technologies Corporation",
    "balanceSheet": {
      "december31_2025": {
        "cashAndCashEquivalents": 17123,
        "tradeAndOtherReceivables": 9317,
        "inventories": 7257,
        "salesTaxReceivable": null,
        "incomeTaxReceivable": 673,
        "contractAssets": 1135,
        "derivativeAssets": 129,
        "otherCurrentAssets": 4276,
        "totalCurrentAssets": 39910,
        "propertyAndEquipment": 5252,
        "rightOfUseAssets": 6617,
        "intangibleAssets": 74960,
        "developmentCosts": 8452,
        "deferredIncomeTaxAssets": 1128,
        "goodwill": 186840,
        "contractAssetsNonCurrent": 1539,
        "derivativeAssetsNonCurrent": 4,
        "otherNonCurrentAssets": 724,
        "totalNonCurrentAssets": 285516,
        "totalAssets": 325426,
        "accountsPayableAndAccruedLiabilities": 15438,
        "provisions": 166,
        "salesTaxPayable": 2993,
        "incomeTaxPayable": 237,
        "operatingFacilityAndLoansCurrent": 20600,
        "contractLiabilitiesCurrent": 4846,
        "leaseObligationsOnRightOfUseAssetsCurrent": 1522,
        "totalCurrentLiabilities": 45802,
        "operatingFacilityAndLoansLongTerm": 17000,
        "contractLiabilitiesNonCurrent": 2735,
        "nonCurrentLeaseObligationsOnRightOfUseAssets": 6085,
        "deferredIncomeTaxLiabilities": 2519,
        "otherNonCurrentLiabilities": 1244,
        "totalLongTermLiabilities": 28583,
        "totalLiabilities": 74385,
        "shareCapital": 380271,
        "contributedSurplus": 21207,
        "accumulatedOtherComprehensiveLossIncome": -159,
        "accumulatedDeficit": -151278,
        "totalShareholdersEquity": 250041,
        "totalLiabilitiesAndShareholdersEquity": 325426,
        "cashPerShare": 0.5164,
        "workingCapitalPerShare": -0.1776
      },
      "june30_2025": {
        "cashAndCashEquivalents": 13494,
        "tradeAndOtherReceivables": 15131,
        "inventories": 8227,
        "salesTaxReceivable": 231,
        "incomeTaxReceivable": 484,
        "contractAssets": 1172,
        "derivativeAssets": 254,
        "otherCurrentAssets": 3629,
        "totalCurrentAssets": 42622,
        "propertyAndEquipment": 6433,
        "rightOfUseAssets": 7215,
        "intangibleAssets": 91124,
        "developmentCosts": 8438,
        "deferredIncomeTaxAssets": 1711,
        "goodwill": 186840,
        "contractAssetsNonCurrent": 1752,
        "derivativeAssetsNonCurrent": 41,
        "otherNonCurrentAssets": 369,
        "totalNonCurrentAssets": 303923,
        "totalAssets": 346545,
        "accountsPayableAndAccruedLiabilities": 15552,
        "provisions": 172,
        "salesTaxPayable": 4012,
        "incomeTaxPayable": 647,
        "operatingFacilityAndLoansCurrent": 20600,
        "contractLiabilitiesCurrent": 7037,
        "leaseObligationsOnRightOfUseAssetsCurrent": 1456,
        "totalCurrentLiabilities": 49476,
        "operatingFacilityAndLoansLongTerm": 27300,
        "contractLiabilitiesNonCurrent": 2695,
        "nonCurrentLeaseObligationsOnRightOfUseAssets": 6752,
        "deferredIncomeTaxLiabilities": 4297,
        "otherNonCurrentLiabilities": 1830,
        "totalLongTermLiabilities": 42874,
        "totalLiabilities": 92350,
        "shareCapital": 380126,
        "contributedSurplus": 20949,
        "accumulatedOtherComprehensiveLossIncome": 65,
        "accumulatedDeficit": -146945,
        "totalShareholdersEquity": 254195,
        "totalLiabilitiesAndShareholdersEquity": 346545,
        "cashPerShare": null,
        "workingCapitalPerShare": null
      }
    },
    "incomeStatement": {
      "threeMonthPeriodEndedDecember31_2025": {
        "revenue": 51450,
        "costOfSales": 13204,
        "grossProfit": 38246,
        "salesAndMarketing": 12752,
        "researchAndDevelopment": 10412,
        "generalAndAdministration": 8807,
        "amortizationOfIntangibleAssets": 7992,
        "interestExpenseNet": 476,
        "restructuringAndBusinessIntegrationCosts": 139,
        "lossBeforeIncomeTax": -2332,
        "provisionForIncomeTaxesCurrent": 232,
        "provisionForIncomeTaxesDeferred": -568,
        "netLoss": -1996,
        "otherComprehensiveLoss": -236,
        "comprehensiveLoss": -2232,
        "lossPerShareBasicAndDiluted": -0.06,
        "weightedAverageNumberOfSharesOutstandingBasicAndDiluted": 33118878
      },
      "threeMonthPeriodEndedDecember31_2024": {
        "revenue": 59113,
        "costOfSales": 18625,
        "grossProfit": 40488,
        "salesAndMarketing": 12599,
        "researchAndDevelopment": 10323,
        "generalAndAdministration": 10175,
        "amortizationOfIntangibleAssets": 8199,
        "interestExpenseNet": 1105,
        "restructuringAndBusinessIntegrationCosts": 242,
        "lossBeforeIncomeTax": -2155,
        "provisionForIncomeTaxesCurrent": 883,
        "provisionForIncomeTaxesDeferred": -1157,
        "netLoss": -1881,
        "otherComprehensiveLoss": -74,
        "comprehensiveLoss": -1955,
        "lossPerShareBasicAndDiluted": -0.06,
        "weightedAverageNumberOfSharesOutstandingBasicAndDiluted": 33419116
      },
      "sixMonthPeriodEndedDecember31_2025": {
        "revenue": 102268,
        "costOfSales": 27217,
        "grossProfit": 75051,
        "salesAndMarketing": 24477,
        "researchAndDevelopment": 21725,
        "generalAndAdministration": 16053,
        "amortizationOfIntangibleAssets": 16164,
        "interestExpenseNet": 1125,
        "restructuringAndBusinessIntegrationCosts": 702,
        "lossBeforeIncomeTax": -5195,
        "provisionForIncomeTaxesCurrent": 760,
        "provisionForIncomeTaxesDeferred": -1622,
        "netLoss": -4333,
        "otherComprehensiveLoss": -224,
        "comprehensiveLoss": -4557,
        "lossPerShareBasicAndDiluted": -0.13,
        "weightedAverageNumberOfSharesOutstandingBasicAndDiluted": 33224316
      },
      "sixMonthPeriodEndedDecember31_2024": {
        "revenue": 119263,
        "costOfSales": 37594,
        "grossProfit": 81669,
        "salesAndMarketing": 25155,
        "researchAndDevelopment": 21665,
        "generalAndAdministration": 20135,
        "amortizationOfIntangibleAssets": 16397,
        "interestExpenseNet": 2483,
        "restructuringAndBusinessIntegrationCosts": 242,
        "lossBeforeIncomeTax": -4408,
        "provisionForIncomeTaxesCurrent": 1374,
        "provisionForIncomeTaxesDeferred": -1991,
        "netLoss": -3791,
        "otherComprehensiveLoss": -398,
        "comprehensiveLoss": -4189,
        "lossPerShareBasicAndDiluted": -0.11,
        "weightedAverageNumberOfSharesOutstandingBasicAndDiluted": 33478400
      }
    },
    "cashFlowStatement": {
      "sixMonthPeriodEndedDecember31_2025": {
        "netLoss": -4333,
        "depreciationOfPropertyAndEquipment": 1709,
        "depreciationOfRightOfUseAssets": 768,
        "amortizationOfIntangibleAssets": 16164,
        "amortizationOfDevelopmentCosts": 3108,
        "incomeTaxRecovery": -862,
        "incomeTaxPaid": -862,
        "shareBasedCompensationExpense": 1359,
        "unrealizedForeignExchangeGainLoss": -125,
        "accretionExpense": 121,
        "lossOnDisposalOfPropertyAndEquipment": 135,
        "changesInWorkingCapital": 0,
        "tradeAndOtherReceivables": 1314,
        "inventories": 970,
        "salesTaxReceivable": 231,
        "contractAssets": 250,
        "otherAssets": -1002,
        "salesTaxPayable": -1019,
        "accountsPayableAndAccruedLiabilities": -114,
        "provisions": -6,
        "otherNonCurrentLiabilities": -586,
        "contractLiabilities": -2151,
        "netCashProvidedByOperatingActivities": 15069,
        "purchaseOfPropertyAndEquipment": -663,
        "developmentCosts": -3138,
        "proceedsFromSaleOfVoipSupplyLlc": 4500,
        "netCashFlowsProvidedByUsedInInvestingActivities": 699,
        "repaymentsOfOperatingFacilityAndLoan": -10300,
        "repaymentOfLeaseObligationsOnRightOfUseAssets": -883,
        "commonSharesIssuedUnderEmployeeSharePurchasePlan": 72,
        "commonSharesPurchasedAndCanceled": -1028,
        "netCashFlowsUsedInFinancingActivities": -12139,
        "increaseInCashAndCashEquivalents": 3629,
        "cashAndCashEquivalentsBeginningOfThePeriod": 13494,
        "cashAndCashEquivalentsEndOfThePeriod": 17123
      },
      "sixMonthPeriodEndedDecember31_2024": {
        "netLoss": -3791,
        "depreciationOfPropertyAndEquipment": 2091,
        "depreciationOfRightOfUseAssets": 1331,
        "amortizationOfIntangibleAssets": 16397,
        "amortizationOfDevelopmentCosts": 2946,
        "incomeTaxRecovery": -617,
        "incomeTaxPaid": -422,
        "shareBasedCompensationExpense": 1766,
        "unrealizedForeignExchangeGainLoss": 17,
        "accretionExpense": 161,
        "lossOnDisposalOfPropertyAndEquipment": 131,
        "changesInWorkingCapital": 0,
        "tradeAndOtherReceivables": 4585,
        "inventories": 1651,
        "salesTaxReceivable": -45,
        "contractAssets": 477,
        "otherAssets": 905,
        "salesTaxPayable": -691,
        "accountsPayableAndAccruedLiabilities": -2325,
        "provisions": null,
        "otherNonCurrentLiabilities": 943,
        "contractLiabilities": -1470,
        "netCashProvidedByOperatingActivities": 24040,
        "purchaseOfPropertyAndEquipment": -947,
        "developmentCosts": -3295,
        "proceedsFromSaleOfVoipSupplyLlc": null,
        "netCashFlowsProvidedByUsedInInvestingActivities": -4242,
        "repaymentsOfOperatingFacilityAndLoan": -17450,
        "repaymentOfLeaseObligationsOnRightOfUseAssets": -1514,
        "commonSharesIssuedUnderEmployeeSharePurchasePlan": null,
        "commonSharesPurchasedAndCanceled": null,
        "netCashFlowsUsedInFinancingActivities": -18964,
        "increaseInCashAndCashEquivalents": 834,
        "cashAndCashEquivalentsBeginningOfThePeriod": 16231,
        "cashAndCashEquivalentsEndOfThePeriod": 17065
      }
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Derivative Assets",
        "description": "Interest rate swap assets designated as cash flow hedges to manage exposure to interest rate fluctuations.",
        "value": 133,
        "notes": "Fair value of interest rate swaps: current $129, non-current $4 as at Dec 31, 2025."
      },
      {
        "type": "Development Costs",
        "description": "Capitalized research and development expenditures.",
        "value": 8452,
        "notes": "Net capitalized development costs as at Dec 31, 2025."
      },
      {
        "type": "Intangible Assets",
        "description": "Purchased technology, customer relationships, brand, and other intangibles.",
        "value": 74960,
        "notes": "Net book value as at Dec 31, 2025."
      },
      {
        "type": "Goodwill",
        "description": "Goodwill arising from business acquisitions.",
        "value": 186840,
        "notes": "Carrying amount as at Dec 31, 2025."
      }
    ],
    "shareStructure": {
      "authorizedShares": "Unlimited common shares without par value",
      "issuedShares": 33199364,
      "classesOfShares": [
        "Common shares"
      ],
      "warrants": [],
      "options": [
        {
          "number": 355468,
          "exercisePrice": 15.6,
          "expiryDate": null
        }
      ],
      "rights": "Restricted Share Units (RSUs), Deferred Share Units (DSUs), Performance Share Units (PSUs), Employee Share Purchase Plan (ESPP)",
      "convertibleInstruments": null,
      "notes": "As at Dec 31, 2025: 355,468 stock options outstanding (weighted avg exercise price $15.60); 1,197,669 share units outstanding (DSUs: 314,442; PSUs: 613,300; RSUs: 269,927). Normal Course Issuer Bid (NCIB) active, allowing repurchase of up to 1,679,720 shares."
    },
    "managementCompensation": {
      "currency": "USD",
      "periods": {},
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [],
      "balancesDueToRelatedParties": {}
    }
  }
]