Ooma Reports Second Quarter Fiscal Year 2019 Financial Results

Ooma (NYSE:OOMA), a smart communications platform for businesses and consumer announced financial results for the second quarter fiscal 2019 ended June 31, 2018.

The company reported that its total revenue was US$31.7 million, up 12 percent year-over-year.

As quoted in the press release:

“We achieved solid financial results while investing for growth,” said Eric Stang, chief executive officer of Ooma. “Our focus remains on our three key FY19 strategic initiatives, which are to continue the fast growth of Ooma Office for small businesses, capitalize on our Voxter acquisition to serve larger businesses with custom UCaaS solutions, and extend the Ooma platform to include home security and video monitoring services for residential users.  We believe we are executing well on these initiatives and will drive long term shareholder value.”

Second Quarter Fiscal 2019 Financial Highlights

• Revenue: Total revenue was $31.7 million, up 12% year-over-year. Subscription and services revenue increased to $28.4 million and was 90% of total revenue, driven by 19% year-over-year growth in our business and residential subscription and services revenue.
• Net Loss: GAAP net loss was $3.9 million, or $0.20 per basic and diluted share, compared to GAAP net loss of $3.6 million, or $0.20 per basic and diluted share, in the second quarter fiscal 2018. Non-GAAP net loss was $0.9 million, or $0.05 per basic and diluted share, compared to non-GAAP net loss of $0.4 million, or $0.02 per basic and diluted share, in the prior year period.
• Adjusted EBITDA: Adjusted EBITDA was ($0.6) million compared to ($0.1) million in the prior year period.

Business Outlook

For the third quarter fiscal 2019, Ooma expects to report:

• Total revenue in the range of $31.5 million to $32.0 million.
• GAAP net loss in the range of $4.0 million to $4.6 million and GAAP net loss per share in the range of $0.20 to $0.23.
• Non-GAAP net loss in the range of $0.8 million to $1.3 million and non-GAAP net loss per share in the range of $0.04 to $0.07.

For the full fiscal year 2019, Ooma expects to report:

• Total revenue in the range of $125.5 million to $127.5 million.
• GAAP net loss in the range of $15.4 million to $16.9 million, and GAAP net loss per share in the range of $0.77 to $0.85.
• Non-GAAP net loss in the range of $3.5 million to $4.5 million, and non-GAAP net loss per share in the range of $0.18 to $0.23.

Click here for the full press release.