Ooma Q3 2023 Earnings Report
Key Takeaways
Ooma reported a 15% year-over-year increase in revenue, reaching $56.7 million in Q3 2023. The company achieved its highest-ever quarterly non-GAAP net income and adjusted EBITDA. New features were introduced for Ooma Office Pro Plus, sales of Ooma Enterprise grew, and T-Mobile was added as a resale partner for AirDial.
Total revenue was $56.7 million, up 15% year-over-year.
Subscription and services revenue increased to $51.7 million, representing 91% of total revenue.
GAAP net loss was $2.8 million, or $0.11 per basic and diluted share.
Non-GAAP net income was $3.5 million, or $0.14 per diluted share.
Ooma
Ooma
Ooma Revenue by Segment
Forward Guidance
For the fourth quarter of fiscal 2023, Ooma expects total revenue in the range of $56.3 million to $56.6 million, GAAP net loss in the range of $0.7 million to $1.0 million, and non-GAAP net income in the range of $3.5 million to $3.8 million.
Positive Outlook
- Total revenue in the range of $56.3 million to $56.6 million.
- Non-GAAP net income in the range of $3.5 million to $3.8 million
- Non-GAAP net income per share in the range of $0.14 to $0.15.
- GAAP net loss in the range of $0.7 million to $1.0 million
- GAAP net loss per share in the range of $0.03 to $0.04.
Revenue & Expenses
Visualization of income flow from segment revenue to net income