Terago Networks

What Terago Networks does

TERAGO Inc. (TSX: TGO) is a Canadian managed network services provider that delivers business-grade connectivity, SD-WAN, business continuity, and private 5G solutions exclusively to Canadian businesses. Founded in 1999 and headquartered in Toronto/Thornhill, the company operates a national fixed wireless network built on 6,420 MHz of licensed mmWave spectrum in the 24 GHz and 38 GHz bands, representing approximately 91% of Canada's mmWave spectrum. The core technology stack combines proprietary point-to-point and point-to-multipoint microwave radio systems with fibre and carrier partnerships, delivering SLA-backed service with 99.9% network availability and a 4-hour MTTR.

TERAGO serves over 1,800 enterprise and mid-market customers across seven major Canadian markets (Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa, and Winnipeg). Its product portfolio spans Business & Enterprise Internet (Fixed Wireless Access), Managed SD-WAN, Managed Business Continuity with multi-medium failover, Managed Network Services, and Managed Private 5G using its licensed spectrum. Vertical focus is broadening from traditional multi-site enterprises into manufacturing, logistics, energy/utilities, ports, mining, and large venues for industrial Private 5G use cases. The company markets a "one provider, one bill, one owner" service model with 24/7 Canadian-based support and white-glove account management.

The revenue model is predominantly subscription-based, with monthly recurring connectivity and managed services charges. ARPA was $1,253/month in Q1 2026 (up 1.9% YoY), monthly churn was 0.9%, and FY2025 revenue was $25.4M CAD, down 3.1% YoY amid deliberate pruning of unprofitable accounts. Go-to-market combines direct enterprise field sales with a three-tier channel program (Wholesale, Agent, Ambassador), and strategic technology partnerships with Ericsson (Private 5G), Fortinet (SD-WAN/SASE), Cisco, Megaport, and others. Cymbria Corporation (affiliated with EdgePoint Investment Group) holds approximately 28.77% following an October 2025 recapitalization that raised approximately $15.9M CAD. The company has reported widening net losses ($16.8M FY2025) and a Q3 2025 financial restatement tied to a sale-leaseback accounting issue.

Name

Terago Networks

Legal name

TERAGO Networks Inc.

Website

https://terago.ca

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

51–100 employees

Short description

TERAGO Inc. (TSX: TGO) is a Canadian managed network services provider delivering fixed wireless, SD-WAN, business continuity, and private 5G solutions to over 1,800 enterprise and mid-market customers across seven major Canadian markets, built on proprietary infrastructure and 91% of Canada's licensed mmWave spectrum.

Ownership category

akta.pro rank

Product category

Managed Enterprise Connectivity Services

NAICS

Wireless Telecommunications Carriers (except Satellite) (517112), Wired and Wireless Telecommunications Carriers (except Satellite) (51711)

SIC

Communications Services, Nec (4899), Radiotelephone Communications (4812)

akta.pro industry

PRIMARYHDAIAJAB

Enterprise Satellite Connectivity & Managed Services (VSAT, SD-WAN over Satcom)

Hardware, Technology & Telecom/Telecommunications & Network Services/Satellite & Non-Terrestrial Network Services (GEO/MEO/LEO)

Keywords

• Managed wireless services
• Private 5G networks
• SD-WAN solutions
• Fixed wireless access
• Enterprise internet services

Headquarters

HQ city

Thornhill

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations

Revenue model

1. Managed Connectivity Services: Recurring monthly revenue from managed fixed wireless internet, fiber, and cable connectivity services. Revenue is subscription-based with monthly recurring charges per customer account. The company reported Q1 2026 revenue of $6,172K and full year 2025 revenue of $25,356K, with slight year-over-year declines.
2. Managed Services (SD-WAN, Network Management): Additional managed services including SD-WAN management, proactive monitoring, network device management, and advanced reporting. These services are bundled with connectivity or sold as standalone managed service agreements.
3. Private 5G Solutions: End-to-end managed private 5G network services including strategy, design, deployment, integration, monitoring, and ongoing operations. Revenue likely project-based for deployment plus recurring managed services.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Terago Networks provides managed wireless connectivity, SD-WAN, business continuity failover, and private 5G network services to Canadian mid-market and enterprise businesses. Its offerings are built on a national fixed wireless infrastructure combined with fibre and carrier partner networks, leveraging the company's licensed mmWave spectrum (24 GHz and 38 GHz bands) to deliver dedicated, SLA-guaranteed connectivity with 99.9% uptime. The portfolio is delivered through white-glove managed services with a single point of accountability.

Product overview

TERAGO is a Canadian managed network services provider offering a portfolio of connectivity solutions built primarily on its proprietary fixed wireless infrastructure. The core offering consists of Business & Enterprise Internet (Fixed Wireless Access) providing primary or backup connectivity, supplemented by Managed SD-WAN for intelligent traffic routing, Managed Business Continuity for multi-medium failover, and Managed Private 5G utilizing the company's licensed mmWave spectrum (24 GHz and 38 GHz bands). TERAGO serves exclusively Canadian businesses across major markets including Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa, and Winnipeg. The company has been providing wireless services since 1999 and holds 91% of Canada's mmWave spectrum. Channel programs include Wholesale, Agent, and Ambassador programs for partners.

Differentiator

Problem solved

Functional benefit

Products and services

• Business & Enterprise Internet (Fixed Wireless Access) Primary or backup business-grade internet using Terago's national fixed wireless network combined with fibre and carrier partners across Cable and Satellite. Designed for Canadian businesses needing rapid deployment, infrastructure diversity, and predictable performance for mission-critical operations.
• Managed SD-WAN Secure, application-aware routing that dynamically manages traffic across wireless and fibre networks. Optimizes performance, prioritizes critical applications, and maintains continuity with built-in failover and policy-driven control for multi-site Canadian enterprises.
• Managed Business Continuity Fully managed, multi-medium failover combining fixed wireless and fibre with proactive monitoring, intelligent routing, and a single escalation path. Keeps Canadian businesses running through network disruptions by eliminating vendor finger-pointing during incidents.
• Managed Private 5G End-to-end managed private 5G network services powered by Terago's licensed mmWave spectrum for industrial and enterprise use cases. Includes strategy, design, deployment, integration with IT/OT/cloud systems, monitoring, and ongoing operations for deterministic throughput, low latency, and reliability in complex environments.
• Managed Network Services Proactive monitoring, advanced reporting, and network device management including configuration, repair, restoration, and change management. Bundled with connectivity services or available as a standalone managed service agreement for Canadian enterprises.
• TERAGO Wholesale Partner Program Wholesale program providing small and major Canadian carriers with access to Terago's connectivity solutions and last-mile access diversity. Partners can resell or white-label Terago services to extend their own portfolios.
• TERAGO Agent Partner Program Independent selling program with commission for experienced network services sales representatives. Provides access to pricing tools, exclusive campaigns, and sales initiatives to sell Terago's connectivity and managed services.
• TERAGO Ambassador Partner Program Program for individuals enhancing Terago's brand within their personal networks and communities while generating deal referrals for the company's connectivity and managed services portfolio.

Quantifiable outcome

• 99.9% network availability and 4-hour Mean Time To Repair (MTTR)
• +3 more outcomes

Named customers1 record

Segments7 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and supporting.

• FortinetcoreTechnology or Integration · 25 November 2025Strategic partnership to deliver advanced secure networking solutions combining Fortinet's SD-WAN and SASE security platforms with TERAGO's managed services. The collaboration enables TERAGO to offer integrated cybersecurity and network performance solutions, positioning the company to differentiate its offerings in the Canadian enterprise market through convergence of networking and security services.
• EricssoncoreStrategic or Co-development Partner · 27 May 2025TERAGO partnered with Ericsson as a member of its 5-star partner program to deliver Advanced Enterprise Private 5G solutions across Canada. The partnership enables TERAGO to accelerate enterprise 5G infrastructure implementation for private 5G and neutral host solutions. Ericsson provides the technology platform while TERAGO handles local deployment, implementation, and ongoing managed services. The collaboration targets manufacturing, transportation, and logistics sectors with high-speed, low-latency connectivity.
• Technology Partners (Cisco, Megaport, Radware, Netscout, Ceragon, Peplink, Intracom)supportingTechnology or IntegrationTERAGO maintains partnerships with multiple technology vendors including Cisco (networking), Megaport (network-as-a-service), Radware (application delivery and security), Netscout (network performance), Ceragon (wireless transport), Peplink (SD-WAN), and Intracom (network solutions). These partnerships provide technology integration options and access to best-in-class solutions.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bell Canada: Bell is Canada's largest incumbent telecommunications provider, offering business internet, SD-WAN, managed services, and private network solutions to enterprise customers across the same major Canadian markets TERAGO serves. It is the most direct competitive overlap for enterprise connectivity spend.
• Rogers Communications: Rogers is a major Canadian incumbent telecom offering enterprise wireless, fixed broadband, SD-WAN, and managed connectivity. Following the Shaw acquisition, Rogers extends fiber and wireless reach directly into TERAGO's target mid-market and enterprise segments.
• Telus: Telus is a leading Canadian incumbent offering enterprise connectivity, managed services, and private wireless networks. Its national footprint, healthcare vertical focus, and 5G investments make it a direct competitor to TERAGO's enterprise and industrial verticals.
• Cogeco Communications: Cogeco provides Canadian business connectivity and managed services across Ontario, Quebec, and Atlantic Canada. Its focus on regional and mid-market enterprise customers overlaps with TERAGO's primary segment, especially via Cogeco's Atamalink business services.
• Xplornet Communications: Xplornet is a Canadian wireless broadband provider operating fixed wireless and satellite networks for residential, SMB, and enterprise customers. It is the closest like-for-like operator in Canada using wireless infrastructure for enterprise-style connectivity.

Regional players

• SaskTel: SaskTel is the incumbent telecom for Saskatchewan offering enterprise connectivity, managed services, and wireless solutions. It competes with similar enterprise offerings but primarily within a single province rather than nationally.
• Eastlink: Eastlink is a Canadian regional cable and wireless operator serving Atlantic Canada and parts of Ontario with business internet and managed connectivity. It is comparable as a regional Canadian connectivity provider but does not overlap directly with TERAGO's core Ontario markets.

Broad incumbents

• Ericsson: Ericsson is a global 5G infrastructure vendor and TERAGO's partner for Private 5G. It is comparable as a broader incumbent providing the underlying 5G technology stack that TERAGO resells and manages, and competes at the platform level for large enterprise wireless deals.
• Cisco Systems: Cisco provides enterprise networking, SD-WAN (Viptela), and Meraki-managed connectivity solutions that overlap with TERAGO's managed SD-WAN offering. Cisco is a comparable broad incumbent with a much larger portfolio and direct enterprise sales force.
• Fortinet: Fortinet is a global networking and security vendor offering SD-WAN and SASE that TERAGO integrates via its November 2025 partnership. Fortinet is comparable as a broad incumbent whose technology is embedded into TERAGO's managed offerings, and whose own direct sales can compete for the same enterprise wallet.

Market position

Weaknesses2 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/Terago_networks
• LinkedInlinkedin.com/company/terago-networks

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds7 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Terago Networks