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Hosted voice and UCaaS

The first industry MonoBridge covers: business phone and UCaaS providers that deliver over the customer’s own broadband. What drives value there, and the gates a buyer checks first.

3-minute readUpdated October 2026

Read itFor owners. No formulas.For a CPA or CFO. Sources and tables.For an analyst. The formula and the policy.

One code, three economies

The government code for this industry, NAICS 517810, holds three different kinds of business. Benchmarks that average them describe no real company, so the dossier splits them before it measures anything.

Voice or Internet over the customer’s own broadband: business hosted voice and UCaaS sold per seat, residential voice, Internet providers in run-off, and wholesale termination and numbers. This is the most common owner-run business in the code, and the one the sample is.

The screening test

Before any question about your numbers, the studio asks which business you are. The dossier’s test runs in order and stops at the first match:

  1. Own network?Service over your own wired, wireless or satellite network belongs to a carrier code, not this one.
  2. Resell with title?Buying carrier service and reselling it in your own name is a reseller code.
  3. Customer’s connection?Voice or Internet over a connection the customer supplies: over the top.
  4. Stations for others?Earth stations, tracking or radar run for others on contract: ground stations.
Pick your kind of business. Your pick changes the questions you get and the benchmarks you’re measured against.

What drives value here

A per-seat hosted voice book earns thin reported margins, an operating margin around 4%, yet buyers have paid roughly 0.76 to 1.76 times revenue for one, because they are buying seats they would otherwise have to win one by one. Revenue quality and how long customers stay set value in this industry, more than the margin itself.

~4%Typical operating marginover-the-top business seats
0.76–1.76×Revenue paid by strategic buyersfor a seat book, net of acquired cash
5Regulatory gateschecked before any price

The gates a buyer checks first

Some items aren’t drivers of value; they are conditions for it. Fail one and the business being sold changes. For the sample, every gate is clear, and each row shows what that gate protects: the difference between today’s value and the engine rerun with that one gate failed.

What each gate protects in the sampleValue lost if that one gate failed, $M
  1. Robocall Mitigation Database listinglisted, current certification$3.54M
  2. USF recovered on invoicescovers the contribution$1.90M
  3. 911 complianceKari’s Law and RAY BAUM’S Act, documented$226k
  4. State registrations and tax filingscurrent everywhere$65k

How to read it. Each bar is today’s value minus the engine rerun with that one gate failed. The protections overlap, so they don’t add: if all five failed at once, $3.93M would become $239k. A fifth gate, unremitted USF, 911 and telecom taxes, comes straight off the price; the sample owes nothing.

Compliance in the studio. Each gate is asked plainly, and each answer shows its price.

Benchmarks you can trust

The benchmark file the industry inherits gives this code 32 metrics, and not one is native: all are blends of listed software, media and carrier companies. The dossier grades each one, quarantines what it can’t define, and adds the metrics this industry actually runs on: price per seat, churn, carrier cost per seat, number inventory.

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