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Jul 31, 2023
Ooma Q2 2024 Earnings Report
Ooma's Q2 2024 financial results were released, demonstrating revenue growth and strategic initiative development.
Key Takeaways
Ooma reported total revenue of $58.4 million, an 11% increase year-over-year, driven by subscription and services revenue growth. GAAP net income was $0.3 million, or $0.01 per share, while non-GAAP net income was $3.8 million, or $0.14 per share. Adjusted EBITDA reached $4.9 million, and the company launched new features and developed capabilities for regional expansion and AirDial.
Total revenue increased by 11% year-over-year, reaching $58.4 million.
Subscription and services revenue grew to $54.7 million, accounting for 94% of total revenue.
GAAP net income was $0.3 million, or $0.01 per share, while non-GAAP net income was $3.8 million, or $0.14 per share.
Adjusted EBITDA was $4.9 million, compared to $4.0 million in the same quarter of the previous year.
Revenue by Segment
Forward Guidance
For the third quarter of fiscal 2024, Ooma expects total revenue in the range of $59.0 million to $59.6 million, GAAP net loss in the range of $0.3 million to $0.6 million, and non-GAAP net income in the range of $3.8 million to $4.1 million.
Positive Outlook
- Total revenue in the range of $59.0 million to $59.6 million.
- Non-GAAP net income in the range of $3.8 million to $4.1 million
- Non-GAAP net income per share in the range of $0.14 to $0.16.
- Total revenue in the range of $235.5 million to $237.0 million for the full fiscal year 2024
- Non-GAAP net income in the range of $15.5 million to $16.5 million for the full fiscal year 2024
Challenges Ahead
- GAAP net loss in the range of $0.3 million to $0.6 million.
- GAAP net loss per share in the range of $0.01 to $0.03.
- GAAP net loss in the range of $0.4 million to $1.4 million for the full fiscal year 2024
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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