Loading...
•
Apr 30, 2022
Ooma Q1 2023 Earnings Report
Ooma's revenue increased by 10% year-over-year, reaching $50.3 million, driven by Ooma Business growth, which now contributes over 50% of subscription services revenue.
Key Takeaways
Ooma reported a 10% year-over-year revenue increase in Q1 2023, reaching $50.3 million, with Ooma Business being a key driver, contributing over 50% of subscription services revenue. The company's GAAP net loss was $0.8 million, or $0.03 per share, while non-GAAP net income was $3.0 million, or $0.12 per diluted share. Adjusted EBITDA was $3.9 million.
Total revenue increased by 10% year-over-year to $50.3 million.
Subscription and services revenue grew to $46.7 million, representing 93% of total revenue, driven by Ooma Business.
GAAP net loss was $0.8 million, or $0.03 per share, while non-GAAP net income was $3.0 million, or $0.12 per diluted share.
Adjusted EBITDA was $3.9 million.
Ooma
Ooma
Ooma Revenue by Segment
Revenue by Segment
Subscription and Services Revenue
CapyFin.comProduct and Other Revenue
CapyFin.com Forward Guidance
For the second quarter of fiscal 2023, Ooma expects total revenue in the range of $51.4 million to $51.9 million, GAAP net loss in the range of $1.1 million to $1.5 million, and non-GAAP net income in the range of $2.4 million to $2.8 million. For the full fiscal year 2023, Ooma expects total revenue in the range of $210.5 million to $213.5 million, GAAP net loss in the range of $4.4 million to $5.9 million, and non-GAAP net income in the range of $9.5 million to $11.0 million.
Positive Outlook
- Total revenue in the range of $51.4 million to $51.9 million for Q2 2023.
- Non-GAAP net income in the range of $2.4 million to $2.8 million for Q2 2023.
- Total revenue in the range of $210.5 million to $213.5 million for full year 2023.
- Non-GAAP net income in the range of $9.5 million to $11.0 million for full year 2023.
Challenges Ahead
- GAAP net loss in the range of $1.1 million to $1.5 million for Q2 2023.
- GAAP net loss per share in the range of $0.04 to $0.05 for Q2 2023.
- GAAP net loss in the range of $4.4 million to $5.9 million for full year 2023.
- GAAP net loss per share in the range of $0.18 to $0.24 for full year 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income