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Ooma
🇺🇸 NYSE:OOMA
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•
Oct 31, 2023

Ooma Q3 2024 Earnings Report

Ooma reported a strong Q3 2024 with revenue up 6% year-over-year and GAAP net income of $2.3 million.

Key Takeaways

Ooma's Q3 2024 showcased strong performance with a 6% increase in total revenue year-over-year, reaching $59.9 million. Subscription and services revenue drove growth, accounting for 93% of total revenue. GAAP net income was $2.3 million, a significant improvement from the net loss in the same quarter last year.

Total revenue increased to $59.9 million, representing a 6% year-over-year growth.

Subscription and services revenue grew to $55.9 million, accounting for 93% of total revenue.

GAAP net income was $2.3 million, or $0.09 per basic and diluted share, compared to a net loss of $2.8 million in Q3 2023.

Adjusted EBITDA was $5.0 million, compared to $4.5 million in the third quarter of fiscal 2023.

Total Revenue
$59.9M
Previous year: $56.7M
+5.6%
EPS
$0.15
Previous year: $0.14
+7.1%
Adjusted EBITDA
$5M
Previous year: $4.5M
+11.0%
Gross Profit
$36.9M
Previous year: $35.9M
+2.8%
Cash and Equivalents
$18.9M
Previous year: $20M
-5.8%
Free Cash Flow
$563K
Previous year: $1.39M
-59.6%
Total Assets
$163M
Previous year: $125M
+30.8%

Ooma

Ooma

Ooma Revenue by Segment

Forward Guidance

Ooma expects total revenue in the range of $61.2 million to $61.8 million for the fourth quarter of fiscal year 2024. GAAP net loss is projected to be between $3.5 million and $3.8 million, with non-GAAP net income expected to be in the range of $3.1 million to $3.4 million.

Positive Outlook

  • Total revenue is expected to be in the range of $61.2 million to $61.8 million.
  • Non-GAAP net income is projected to be between $3.1 million and $3.4 million.
  • Non-GAAP net income per share is expected to be in the range of $0.12 to $0.13.
  • Total revenue for the full fiscal year 2024 is expected to be in the range of $236.3 million to $236.9 million.
  • Non-GAAP net income for the full fiscal year 2024 is expected to be in the range of $14.9 million to $15.2 million.

Challenges Ahead

  • GAAP net loss is expected to be in the range of $3.5 million to $3.8 million.
  • GAAP net loss per share is expected to be in the range of $0.13 to $0.14.
  • GAAP net loss for the full fiscal year 2024 is expected to be in the range of $1.2 million to $1.5 million.
  • GAAP net loss per share for the full fiscal year 2024 is expected to be in the range of $0.04 to $0.05.
  • Unspecified factors may impact actual results.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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