07:14 AM EDT, 03/25/2025 (MT Newswires) -- Sangoma Technologies ( SANG ) on Tuesday said it issued a notice for an additional $2.9 million debt repayment under its credit facility, bringing total repayments for the third quarter to $7.3 million.

The move includes the full repayment of Sangoma's term loan 1, reducing total debt to $53 million at the end of the third quarter. The company has surpassed its fiscal 2025 capital allocation target of cutting debt to $55-$60 million, ahead of schedule.

With its debt reduction strategy ahead of target, Sangoma said it will proceed with a normal course issuer bid as a "prudent and strategic use of capital." The company may purchase up to 1.7 million shares on the Toronto Stock Exchange or the NASDAQ, from March 27, for one year.