Radware vs Sangoma Technologies
Radware is the larger business, with $302m of revenue in fiscal 2025 against $200m for Sangoma Technologies (1.5 times as much). Radware grew faster (9.8% against -15.5%). Radware kept more of each dollar of sales as profit: a net margin of 6.7% against -40.5%. Radware carries less debt relative to equity (0.0% against 15.6%).
| Latest fiscal year | RadwareRDWR, 2025 | Sangoma TechnologiesSANG, 2026 |
|---|---|---|
| Revenue | $302m | $200m |
| Revenue growth | 9.8% | -15.5% |
| Net income | $20.3m | −$81.1m |
| Operating margin | 3.8% | — |
| Net margin | 6.7% | -40.5% |
| Return on equity | 6.1% | -37.8% |
| Free cash flow | $41.6m | $21.9m |
| Cash | $105m | $10.4m |
| Total debt | $0 | $27.3m |
| Debt to equity | 0.0% | 15.6% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $10.5m | $1.0m |
| Employees | — | — |
| Market value | $1.44bn | $152m |
| Price vs our value range | Above our value range | Below our value range |
| Moat score | 55 (Moderate) | — |
| Insider trades, 12 months | 1 buys, 14 sales | 0 buys, 0 sales |