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Ooma
🇺🇸 NYSE:OOMA
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Apr 30, 2020

Ooma Q1 2021 Earnings Report

Ooma's Q1 2021 financial performance was released, revealing revenue growth and improved profitability.

Key Takeaways

Ooma reported a strong first quarter with revenue reaching $40.3 million, a 19% increase year-over-year. Subscription and services revenue drove growth, accounting for 93% of total revenue. The company also improved its profitability, with adjusted EBITDA at $3.0 million compared to a negative $0.5 million in the same quarter last year.

Total revenue increased by 19% year-over-year, reaching $40.3 million.

Subscription and services revenue grew to $37.6 million, making up 93% of total revenue.

GAAP net loss improved to $1.1 million, or $0.05 per share, compared to a $4.7 million loss in the previous year.

Adjusted EBITDA was $3.0 million, a significant improvement from the negative $0.5 million in the first quarter of fiscal year 2020.

Total Revenue
$40.3M
Previous year: $34M
+18.5%
EPS
$0.11
Previous year: -$0.04
-375.0%
Adjusted EBITDA
$3.03M
Previous year: -$468K
-747.0%
Gross Profit
$25.2M
Cash and Equivalents
$9.04M
Total Assets
$80.1M

Ooma

Ooma

Ooma Revenue by Segment

Forward Guidance

Ooma provided revenue and earnings guidance for the second quarter and full fiscal year 2021, emphasizing that these projections are subject to risks and uncertainties related to the COVID-19 pandemic.

Positive Outlook

  • Expects total revenue in the range of $40.0 million to $40.5 million for Q2 2021.
  • Anticipates non-GAAP net income between $1.5 million and $2.0 million for Q2 2021.
  • Projects non-GAAP earnings per share to be in the range of $0.06 to $0.09 for Q2 2021.
  • Forecasts total revenue in the range of $161.0 million to $164.0 million for the full fiscal year 2021.
  • Estimates non-GAAP net income to be between $5.0 million and $7.0 million for the full fiscal year 2021.

Challenges Ahead

  • Expects GAAP net loss in the range of $1.5 million to $2.0 million for Q2 2021.
  • Anticipates GAAP net loss per share to be in the range of $0.06 to $0.09 for Q2 2021.
  • Projects GAAP net loss in the range of $6.5 million to $8.5 million for the full fiscal year 2021.
  • Estimates GAAP net loss per share to be in the range of $0.30 to $0.39 for the full fiscal year 2021.
  • Guidance is subject to cautionary factors including risks and uncertainties associated with the COVID-19 pandemic.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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