Ooma, Inc. (NYSE: OOMA), a smart communications platform for businesses and consumers, has announced its financial results for the fiscal first quarter ending April 30, 2024.
Fiscal First Quarter 2025 Financial Highlights:
- Revenue: Ooma reported total revenue of $62.5 million, marking a 10% increase year-over-year. Subscription and services revenue rose to $58.4 million from $53.0 million in the first quarter of fiscal 2024, making up 93% of the total revenue. This growth was mainly driven by the expansion of Ooma Business and the acquisition of 2600hz, Inc.
- Net Income/Loss: The GAAP net loss was $2.1 million, or $0.08 per basic and diluted share, compared to a GAAP net loss of $0.3 million, or $0.01 per basic and diluted share, in the same period last year. Non-GAAP net income was $3.6 million, or $0.14 per diluted share, down from $4.0 million, or $0.16 per diluted share, in the prior year.
- Adjusted EBITDA: Adjusted EBITDA was $5.0 million, up from $4.8 million in the first quarter of fiscal 2024.
For more details on non-GAAP net income and Adjusted EBITDA, see the “Non-GAAP Financial Measures” section and the reconciliation provided in this release.
“Ooma made a solid start to fiscal 2025 by delivering $62.5 million in revenue and $3.6 million in non-GAAP net income for our first quarter,” said Eric Stang, CEO of Ooma. “We achieved 18% growth in business services revenue and 10% growth in overall revenue year-over-year. Our cash flow from operations increased significantly compared to last year, allowing us to pay down $4.5 million of debt during the quarter. We remain focused on expanding Ooma business services revenue and believe we made good progress in Q1. With continued feature expansion, new reseller partners, the launch of AirDial in Canada, and key customer wins, we are optimistic about our outlook for fiscal 2025.”
Business Outlook:
For the second quarter of fiscal 2025, Ooma expects:
- Total revenue between $62.5 million and $63.0 million.
- GAAP net loss between $2.2 million and $2.5 million, with a GAAP net loss per share ranging from $0.08 to $0.09.
- Non-GAAP net income between $3.6 million and $3.9 million, with a non-GAAP net income per share ranging from $0.13 to $0.14.
For the full fiscal year 2025, Ooma anticipates:
- Total revenue between $250.7 million and $253.0 million.
- GAAP net loss between $7.7 million and $8.7 million, with a GAAP net loss per share ranging from $0.30 to $0.33.
- Non-GAAP net income between $15.0 million and $16.0 million, with a non-GAAP net income per share ranging from $0.55 to $0.58.
