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SANG MA NEWS RELEASE SANGOMA REPORTS RESULTS FOR THE THIRD QUARTER OF FISCAL 2021 Record quarterly sales in US dollars , with both Services revenue and EBITDA up by over 30 % YTD MARKHAM , ONTARIO , May 20 , 2021 - Sangoma Technologies Corporation ( TSX VENTURE : STC ) , a trusted leader in delivering cloud - based Communications as a Service solutions for companies of all sizes , today announced highlights of its unaudited condensed interim consolidated financial statements for the third quarter of its fiscal year 2021 ended March 31 , 2021 . As a reminder , Sangoma completed its acquisition of StarBlue Inc ( dba as Star2Star Communications LLC “ Star2Star ” ) on March 31. As a result , there is no impact from Star2Star on Sangoma's income statement for the third quarter , except for the one - time transaction expenses and their effect on net income . For further clarity , third quarter revenue and EBITDA¹ are not affected by Star2Star during this period . Sales for the quarter were $ 35.44 million . For this period though , the comparison to the prior year was materially affected by the significant and rapid swing in exchange rates between quarters . In US dollars , the currency in which our sales are denominated , revenue for this quarter was about $ 28 million 2 versus US $ 26.6 million² in the third quarter of last year . So , quarter over quarter growth in US dollars was 5 % . Q3 FY2021 Q3 FY2020 Sales $ 35.44 m $ 36.31 m Change ( 2 % ) Q2 FY2021 $ 35.32 m Change 0 % Gross profit $ 23.24 m $ 23.47 m ( 1 % ) $ 23.46 m Operating expense $ 20.14 m $ 20.09 m 11 % $ 19.68 m ( 1 % ) 2 % Operating income¹ $ 3.10 m $ 3.37 m $ 3.78 m Net income ( $ 2.37 ) m $ 1.70 m $ 2.46 m Net earnings / ( loss ) per ( $ 0.021 ) $ 0.022 $ 0.022 share ( fully diluted ) EBITDA¹ $ 6.63 m $ 6.51 m 2 % $ 6.73 m ( 2 % ) 1