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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.
Ooma
Ooma
Ooma Revenue by Segment
Revenue by Segment
Subscription and Services Revenue
CapyFin.comProduct and Other Revenue
CapyFin.com 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