Fri, Jun 7, 8:54 PM (136 days ago)
Ooma, Inc.'s quarterly report for the period ended April 30, 2024, highlights several key financial metrics and operational updates. The company reported total revenue of $62.5 million, an increase of 10% year-over-year, driven primarily by the growth of Ooma Business, which saw an 18% rise in subscription and services revenue. Despite this growth, the company's gross margin slightly declined to 61% from 63% in the prior year, attributed to increased infrastructure and personnel costs. Ooma incurred a GAAP net loss of $2.1 million, up from a loss of $0.3 million in the previous year, reflecting continued investments in operations. Adjusted EBITDA was $5.0 million, compared to $4.8 million in the prior year. The company ended the quarter with $15.6 million in cash and cash equivalents, down from $17.5 million as of January 31, 2024, primarily due to debt repayments. Total debt stood at $11.5 million, reduced from $16.0 million. The report also notes the successful integration of 2600Hz, acquired in October 2023, which contributed to revenue growth.