Ooma, Inc. (NYSE: OOMA), a smart communications platform for
businesses and consumers, today released financial results for the
third quarter of fiscal 2019 ended October 31, 2018.
Third Quarter Fiscal 2019 Financial Highlights
- Revenue: Total revenue was $32.6 million, up
14% year-over-year. Subscription and services revenue increased to
$29.8 million and was 91% of total revenue, driven by 20%
year-over-year growth in our business and residential subscription
and services revenue.
- Net Loss: GAAP net loss was $3.5 million, or
$0.18 per basic and diluted share, compared to GAAP net loss of
$3.2 million, or $0.17 per basic and diluted share, in the third
quarter fiscal 2018. Non-GAAP net loss was $0.5 million, or $0.03
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 ($0.2)
million compared to ($0.0) million in the prior year period.
For more information about non-GAAP net loss and Adjusted
EBITDA, see the section below titled "Non-GAAP Financial Measures"
and the reconciliation provided in this release.
“Q3 was an outstanding quarter for Ooma, with significant growth
in recurring revenues and continued strong execution on our key
FY19 strategic initiatives” said Eric Stang, chief executive
officer of Ooma. “Core recurring revenues grew 20% year-over-year,
driven by over 50% growth in Ooma Business subscription and
services revenue. We progressed well on each of our three key
initiatives, which are to grow Ooma Office and Ooma Enterprise and
add smart security services. We remain confident that our focus on
these initiatives will enhance our leadership position and drive
continued growth.”
Business Outlook
For the fourth quarter fiscal 2019, Ooma expects
to report:
- Total revenue in the range of $33.0 million to $33.5
million.
- GAAP net loss in the range of $3.7 million to $4.2 million and
GAAP net loss per share in the range of $0.18 to $0.21.
- Non-GAAP net loss in the range of $0.8 million to $1.2 million
and non-GAAP net loss per share in the range of $0.04 to
$0.06.
For the full fiscal year 2019, Ooma expects to report:
- Total revenue in the range of $127.5 million to $128.0
million.
- GAAP net loss in the range of $14.7 million to $15.3 million,
and GAAP net loss per share in the range of $0.74 to $0.77.
- Non-GAAP net loss in the range of $3.1 million to $3.5 million,
and non-GAAP net loss per share in the range of $0.16 to
$0.18.
The following is a reconciliation of GAAP net loss to non-GAAP
net loss and GAAP basic and diluted net loss per share to non-GAAP
basic and diluted net loss per share guidance for the fourth fiscal
quarter and the fiscal year ending January 31, 2019 (in millions,
except per share data):
|
|
|
|
Projected range |
|
|
|
Three Months Ending |
|
Fiscal Year Ending |
|
|
|
January 31, 2019 |
|
January 31, 2019 |
|
|
|
(unaudited) |
|
GAAP net
loss |
|
($3.7)-($4.2) |
|
($14.7)-($15.3) |
|
Stock-based compensation and related taxes |
|
2.7-2.8 |
|
10.6-10.8 |
|
Acquisition-related costs, amortization of intangible assets and
income tax benefit |
|
0.2 |
|
1.1 |
|
Change in
fair value of acquisition-related contingent consideration |
|
— |
|
(0.1) |
|
Non-GAAP net
loss |
|
($0.8)-($1.2) |
|
($3.1)-($3.5) |
|
|
|
|
|
|
|
GAAP basic and
diluted net loss per share |
|
($0.18)-($0.21) |
|
($0.74)-($0.77) |
|
Stock-based compensation and related taxes |
|
0.13-0.14 |
|
0.53-0.54 |
|
Acquisition-related costs, amortization of intangible assets and
income tax benefit |
|
0.01 |
|
0.06 |
|
Change in
fair value of acquisition-related contingent consideration |
|
— |
|
(0.01) |
|
Non-GAAP basic
and diluted net loss per share |
|
($0.04)-($0.06) |
|
($0.16)-($0.18) |
|
|
|
|
|
|
|
Weighted-average number of shares used in per share
amounts: |
|
|
|
|
|
Basic and
diluted |
|
20.2 |
|
19.9 |
|
|
|
|
|
|
|
Conference Call Information:
Ooma will host a conference call and live webcast for analysts
and investors at 5:00 p.m. Eastern time today, November
27, 2018. The news release with the financial results will be
accessible from the company's website prior to the conference call.
Parties in the United States and Canada can access the call by
dialing +1 (833) 233-4456, using conference ID “Ooma Third
Quarter”. International parties can access the call by dialing +1
(647) 689-4135, using conference ID “Ooma Third Quarter”. The
webcast will be accessible on Ooma's investor relations
website at http://investors.ooma.com for a period of one
year. A telephonic replay of the conference call will be
available through Tuesday, December 4, 2018. To access the replay,
parties in the United States and Canada should call +1 (800)
585-8367 and use conference ID 7448595. International parties
should call +1 (416) 621-4642 and enter conference ID 7448595.
Conference Schedule
We are pleased to participate in the following conferences
during the fourth quarter of fiscal 2019. Please check with
conference hosts for further details.
- Credit Suisse 22nd Annual Technology, Media & Telecom
Conference, November 28, 2018, The Phoenician, Scottsdale
- UBS 46th Annual Global Media and Communications
Conference, December 4, 2018, Grand Hyatt New York, New
York
- Credit Suisse 8th Annual Global Business Services Conference,
December 5, 2018, Ritz-Carlton, San Francisco
- Imperial Capital 15th Annual Security Investor Conference,
December 12, 2018, Intercontinental New York Barclay, New York
- 21st Annual Needham Growth Conference, January 15, 2019, Lotte
New York Palace Hotel, New York
In addition, Ooma will be participating in the 2019
International CES, January 8-11, 2019, Las Vegas. Our main booth
will be 41146 at the Sands Convention Center.
Non-GAAP Financial Measures
In addition to disclosing financial measures prepared in
accordance with U.S. generally accepted accounting principles
(GAAP), this press release and the accompanying tables contain
certain non-GAAP financial measures, including: non-GAAP net loss,
non-GAAP net loss per share, non-GAAP gross profit and gross
margin, non-GAAP operating loss, and Adjusted EBITDA. Adjusted
EBITDA represents the net loss before interest and other expense or
income, income tax benefit, depreciation and amortization and other
non-GAAP expenses.
These non-GAAP financial measures exclude
non-cash stock-based compensation expense and related taxes, change
in fair value of acquisition-related contingent consideration,
acquisition related transaction costs, amortization of acquired
intangibles and non-cash acquisition-related income tax
benefit.
These non-GAAP financial measures are presented to provide
investors with additional information regarding our financial
results and core business operations. Ooma considers these non-GAAP
financial measures to be useful measures of the operating
performance of the company, because they contain adjustments for
unusual events or factors that do not directly affect what
management considers to be Ooma's core operating performance and
are used by the company's management for that purpose. Management
also believes that these non-GAAP financial measures allow for a
better evaluation of the company's performance by facilitating a
meaningful comparison of the company's core operating results in a
given period to those in prior and future periods. In addition,
investors often use similar measures to evaluate the operating
performance of a company.
Non-GAAP financial measures are presented for supplemental
informational purposes only to aid an understanding of the
company's operating results. The non-GAAP financial measures should
not be considered a substitute for financial information presented
in accordance with GAAP and may be different from non-GAAP
financial measures presented by other companies. A limitation of
the non-GAAP financial measures presented is that the adjustments
relate to items that the company generally expects to continue to
recognize. The adjustment of these items should not be construed as
an inference that the adjusted gains or expenses are unusual,
infrequent or non-recurring. Therefore, both GAAP financial
measures of Ooma's financial performance and the respective
non-GAAP measures should be considered together. Please see the
reconciliation of non-GAAP financial measures to the most directly
comparable GAAP measure in the tables below.
Disclosure Information
Ooma uses the investor relations section on its website as a
means of complying with its disclosure obligations under Regulation
FD. Accordingly, investors should monitor Ooma's investor relations
website in addition to following Ooma's press releases, SEC
filings, and public conference calls and webcasts.
Legal Notice Regarding Forward-Looking
Statements
This press release contains forward-looking statements under the
Private Securities Litigation Reform Act of 1995. In particular,
statements regarding future economic performance, finances, and
expectations and objectives of management constitute
forward-looking statements. Forward-looking statements can be
identified by the fact that they do not relate strictly to
historical facts and generally contain words such as "believes”,
"expects”, "may”, "will”, "should”, "seeks”, "approximately”,
"intends”, "plans”, "estimates”, "anticipates”, and other
expressions that are predictions of or indicate future events and
trends and that do not relate to historical matters. This
press release also includes forward–looking statements regarding
the company’s execution of its initiative to continue the fast
growth of Ooma Office, and its execution of this and other
initiatives driving long-term shareholder value. Although the
forward-looking statements contained in this press release are
based upon information available at the time the statements are
made and reflect management's good faith beliefs, forward-looking
statements inherently involve known and unknown risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements to differ materially from
anticipated future results. Important factors that could cause
actual results to differ materially from expectations include,
among others: our inability to attract new customers on a
cost-effective basis; our inability to retain customers; intense
competition; our reliance on retailers and reseller partnerships to
sell our products; our reliance on vendors to manufacture the
on-premise appliances and end-point devices we sell; our reliance
on third parties for our network connectivity and co-location
facilities; our reliance on third parties for some of our software
development, quality assurance and operations; our reliance on
third parties to provide the majority of our customer service and
support representatives; our limited operating history; and
interruptions to our service. You should not place undue reliance
on these forward-looking statements, which speak only as of the
date hereof. We do not undertake to update or revise any
forward-looking statements after they are made, whether as a result
of new information, future events, or otherwise, except as required
by applicable law.
The forward-looking statements contained in this press release
are also subject to other risks and uncertainties, including those
more fully described in our filings with the Securities and
Exchange Commission, including the risk factors contained in our
quarterly filing on Form 10Q for the period ended July 31, 2018,
filed with the SEC on September 6, 2018. The forward-looking
statements in this press release are based on information available
to Ooma as of the date hereof,
and Ooma disclaims any obligation to update any
forward-looking statements, except as required by law.
About Ooma
Ooma (NYSE: OOMA) creates powerful connected experiences for
businesses and consumers, delivered from its smart cloud-based SaaS
platform. For businesses of all sizes, Ooma provides advanced voice
and collaboration features that are flexible and scalable. For
consumers, Ooma provides PureVoice HD voice quality, advanced
functionality and integration with their mobile devices. Ooma’s
groundbreaking smart security solution delivers a full range of
wireless security sensors and a smart video camera that put
consumers in charge of protecting their homes. Learn more
at www.ooma.com.
Ooma, PureVoice HD and the Ooma logo are trademarks of Ooma,
Inc. All other company and product names may be trademarks of the
respective companies with which they are associated. The detailed
terms and conditions of Ooma's products, services, and support are
fully set forth in the Terms and Conditions, available online under
the "legal" tab on the bottom navigation bar of the Ooma
website.
CONTACT:InvestorsMatthew S. RobisonDirector of IR and Corporate
DevelopmentOoma, Inc.ir@ooma.com(650) 300-1480
MediaMike LangbergDirector of Corporate CommunicationsOoma,
Inc.mike.langberg@ooma.com (650) 566-6693
|
OOMA, INC |
CONDENSED CONSOLIDATED BALANCE
SHEETS |
(Unaudited, amounts in thousands) |
|
|
|
|
|
|
|
|
|
October 31, |
|
January 31, |
|
2018 |
|
2018 |
Assets |
|
|
|
Current assets: |
|
|
|
Cash and cash
equivalents |
$ |
13,356 |
|
|
$ |
4,483 |
|
Short-term investments |
|
33,527 |
|
|
|
47,307 |
|
Accounts
receivable, net |
|
2,880 |
|
|
|
2,858 |
|
Inventories |
|
7,817 |
|
|
|
6,079 |
|
Other
current assets |
|
3,830 |
|
|
|
4,397 |
|
Total current assets |
|
61,410 |
|
|
|
65,124 |
|
Property
and equipment, net |
|
4,571 |
|
|
|
4,732 |
|
Intangible assets, net |
|
2,836 |
|
|
|
1,292 |
|
Goodwill |
|
3,803 |
|
|
|
1,947 |
|
Other
assets |
|
2,967 |
|
|
|
336 |
|
Total assets |
$ |
75,587 |
|
|
$ |
73,431 |
|
|
|
|
|
Liabilities and
stockholders' equity |
|
|
|
Current
liabilities: |
|
|
|
Accounts
payable |
$ |
7,866 |
|
|
$ |
5,453 |
|
Accrued
expenses |
|
17,471 |
|
|
|
14,777 |
|
Deferred
revenue |
|
15,098 |
|
|
|
15,556 |
|
Total current liabilities |
|
40,435 |
|
|
|
35,786 |
|
Other
liabilities |
|
771 |
|
|
|
577 |
|
Total liabilities |
|
41,206 |
|
|
|
36,363 |
|
|
|
|
|
Stockholders'
equity: |
|
|
|
Common
stock |
|
3 |
|
|
|
2 |
|
Additional paid-in capital |
|
136,718 |
|
|
|
128,081 |
|
Accumulated other comprehensive loss |
|
(34 |
) |
|
|
(84 |
) |
Accumulated deficit |
|
(102,306 |
) |
|
|
(90,931 |
) |
Total stockholders' equity |
|
34,381 |
|
|
|
37,068 |
|
Total liabilities and stockholders'
equity |
$ |
75,587 |
|
|
$ |
73,431 |
|
|
|
|
|
|
|
OOMA, INC. |
|
CONDENSED CONSOLIDATED STATEMENT OF
OPERATIONS |
|
(Unaudited, amounts in thousands, except share
and per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
|
October
31, |
|
October
31, |
|
October
31, |
|
October
31, |
|
|
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
Revenue: |
|
|
|
|
|
|
|
|
|
Subscription and services |
|
$ |
29,794 |
|
|
$ |
25,524 |
|
|
$ |
85,532 |
|
|
$ |
74,830 |
|
|
Product
and other |
|
|
2,814 |
|
|
|
2,981 |
|
|
|
8,979 |
|
|
|
9,440 |
|
|
Total revenue |
|
|
32,608 |
|
|
|
28,505 |
|
|
|
94,511 |
|
|
|
84,270 |
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenue: |
|
|
|
|
|
|
|
|
|
Subscription and services |
|
|
8,796 |
|
|
|
7,613 |
|
|
|
26,388 |
|
|
$ |
23,176 |
|
|
Product
and other |
|
|
3,739 |
|
|
|
3,726 |
|
|
|
11,339 |
|
|
|
11,314 |
|
|
Total cost of revenue |
|
|
12,535 |
|
|
|
11,339 |
|
|
|
37,727 |
|
|
|
34,490 |
|
|
Gross
profit |
|
|
20,073 |
|
|
|
17,166 |
|
|
|
56,784 |
|
|
|
49,780 |
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses: |
|
|
|
|
|
|
|
|
|
Sales and
marketing |
|
|
10,755 |
|
|
|
9,127 |
|
|
|
30,149 |
|
|
|
27,526 |
|
|
Research
and development |
|
|
8,593 |
|
|
|
7,476 |
|
|
|
25,558 |
|
|
|
21,360 |
|
|
General
and administrative |
|
|
4,589 |
|
|
|
3,890 |
|
|
|
13,036 |
|
|
|
11,511 |
|
|
Total operating expenses |
|
|
23,937 |
|
|
|
20,493 |
|
|
|
68,743 |
|
|
|
60,397 |
|
|
Loss from
operations |
|
|
(3,864 |
) |
|
|
(3,327 |
) |
|
|
(11,959 |
) |
|
|
(10,617 |
) |
|
Interest
and other income, net |
|
|
224 |
|
|
|
148 |
|
|
|
599 |
|
|
|
423 |
|
|
Loss before
income taxes |
|
|
(3,640 |
) |
|
|
(3,179 |
) |
|
|
(11,360 |
) |
|
|
(10,194 |
) |
|
Income
tax benefit |
|
|
146 |
|
|
|
— |
|
|
|
277 |
|
|
|
— |
|
|
Net
loss |
|
$ |
(3,494 |
) |
|
$ |
(3,179 |
) |
|
$ |
(11,083 |
) |
|
$ |
(10,194 |
) |
|
|
|
|
|
|
|
|
|
|
|
Net loss per share of
common stock: |
|
|
|
|
|
|
|
|
|
Basic
and diluted |
|
$ |
(0.18 |
) |
|
$ |
(0.17 |
) |
|
$ |
(0.56 |
) |
|
$ |
(0.55 |
) |
|
Weighted-average number of shares used in per share amounts: |
|
|
|
|
|
|
|
|
|
Basic
and diluted |
|
|
19,962,735 |
|
|
|
18,725,286 |
|
|
|
19,655,727 |
|
|
|
18,407,817 |
|
|
|
|
|
|
|
|
|
|
|
|
|
OOMA, INC. |
CONDENSED CONSOLIDATED STATEMENTS OF CASH
FLOWS |
(Unaudited, amounts in
thousands) |
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
October
31, |
|
October
31, |
|
October
31, |
|
October 31, |
|
|
2018 |
|
2017 |
|
2018 |
|
2017 |
Cash flows from
operating activities: |
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(3,494 |
) |
|
$ |
(3,179 |
) |
|
$ |
(11,083 |
) |
|
$ |
(10,194 |
) |
Adjustments to reconcile net loss to net cash (used in) provided by
operating activities: |
|
|
|
|
|
|
|
|
Stock-based compensation expense |
|
|
2,658 |
|
|
|
2,635 |
|
|
|
7,734 |
|
|
|
8,726 |
|
Depreciation and amortization |
|
|
655 |
|
|
|
451 |
|
|
|
1,717 |
|
|
|
1,446 |
|
Amortization of acquired intangibles |
|
|
197 |
|
|
|
80 |
|
|
|
540 |
|
|
|
244 |
|
Change in
fair value of acquisition-related contingent consideration |
|
|
— |
|
|
|
— |
|
|
|
(128 |
) |
|
|
— |
|
Deferred
income taxes |
|
|
(146 |
) |
|
|
— |
|
|
|
(277 |
) |
|
|
— |
|
Amortization and accretion of premiums from investments |
|
|
(90 |
) |
|
|
58 |
|
|
|
(208 |
) |
|
|
158 |
|
Changes
in operating assets and liabilities: |
|
|
|
|
|
|
|
|
Accounts
receivable, net |
|
|
223 |
|
|
|
716 |
|
|
|
(207 |
) |
|
|
1,172 |
|
Inventories |
|
|
(216 |
) |
|
|
615 |
|
|
|
(1,734 |
) |
|
|
(386 |
) |
Deferred
inventory costs |
|
|
(1 |
) |
|
|
64 |
|
|
|
41 |
|
|
|
488 |
|
Other
assets |
|
|
(1,189 |
) |
|
|
(1,368 |
) |
|
|
(2,822 |
) |
|
|
(1,233 |
) |
Accounts
payable and other liabilities |
|
|
149 |
|
|
|
661 |
|
|
|
4,164 |
|
|
|
1,707 |
|
Deferred
revenue |
|
|
(51 |
) |
|
|
214 |
|
|
|
458 |
|
|
|
251 |
|
Net cash
(used in) provided by operating activities |
|
|
(1,305 |
) |
|
|
947 |
|
|
|
(1,805 |
) |
|
|
2,379 |
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
Purchases
of short-term investments |
|
|
(12,721 |
) |
|
|
(18,354 |
) |
|
|
(26,709 |
) |
|
|
(38,898 |
) |
Proceeds
from maturities and sales of short-term investments |
|
|
11,000 |
|
|
|
13,094 |
|
|
|
40,762 |
|
|
|
39,327 |
|
Purchases
of property and equipment |
|
|
(583 |
) |
|
|
(684 |
) |
|
|
(1,438 |
) |
|
|
(1,747 |
) |
Acquisition of business, net of cash acquired |
|
|
— |
|
|
|
— |
|
|
|
(2,402 |
) |
|
|
— |
|
Net cash
(used in) provided by investing activities |
|
|
(2,304 |
) |
|
|
(5,944 |
) |
|
|
10,213 |
|
|
|
(1,318 |
) |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
Shares
repurchased for tax withholdings on vesting of restricted stock
units |
|
|
(1,098 |
) |
|
|
(1,470 |
) |
|
|
(2,298 |
) |
|
|
(1,973 |
) |
Proceeds
from issuance of common stock |
|
|
1,119 |
|
|
|
981 |
|
|
|
2,763 |
|
|
|
1,869 |
|
Net cash
provided by (used in) financing activities |
|
|
21 |
|
|
|
(489 |
) |
|
|
465 |
|
|
|
(104 |
) |
Net
(decrease) increase in cash and cash equivalents |
|
|
(3,588 |
) |
|
|
(5,486 |
) |
|
|
8,873 |
|
|
|
957 |
|
Cash and
cash equivalents at beginning of period |
|
|
16,944 |
|
|
|
10,433 |
|
|
|
4,483 |
|
|
|
3,990 |
|
Cash and
cash equivalents at end of period |
|
$ |
13,356 |
|
|
$ |
4,947 |
|
|
$ |
13,356 |
|
|
$ |
4,947 |
|
|
|
|
|
|
|
|
|
|
|
OOMA, INC. |
Reconciliation of Non-GAAP Financial
Measures |
(Unaudited, amounts in thousands, except
percentages and per share data) |
|
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
October 31, |
|
October 31, |
|
October 31, |
|
October 31, |
|
|
2018 |
|
2017 |
|
2018 |
|
2017 |
Revenue |
|
$ |
32,608 |
|
|
$ |
28,505 |
|
|
$ |
94,511 |
|
|
$ |
84,270 |
|
|
|
|
|
|
|
|
|
|
GAAP gross
profit |
|
$ |
20,073 |
|
|
$ |
17,166 |
|
|
$ |
56,784 |
|
|
$ |
49,780 |
|
Stock-based compensation and related taxes |
|
|
257 |
|
|
|
262 |
|
|
|
708 |
|
|
|
932 |
|
Amortization of intangible assets |
|
|
146 |
|
|
|
40 |
|
|
|
400 |
|
|
|
123 |
|
Non-GAAP gross
profit |
|
$ |
20,476 |
|
|
$ |
17,468 |
|
|
$ |
57,892 |
|
|
$ |
50,835 |
|
|
|
|
|
|
|
|
|
|
Gross margin on a GAAP
basis |
|
|
62 |
% |
|
|
60 |
% |
|
|
60 |
% |
|
|
59 |
% |
Gross margin on a
Non-GAAP basis |
|
|
63 |
% |
|
|
61 |
% |
|
|
61 |
% |
|
|
60 |
% |
|
|
|
|
|
|
|
|
|
GAAP operating loss |
|
$ |
(3,864 |
) |
|
$ |
(3,327 |
) |
|
$ |
(11,959 |
) |
|
$ |
(10,617 |
) |
Stock-based compensation and related taxes |
|
|
2,775 |
|
|
|
2,722 |
|
|
|
8,003 |
|
|
|
8,886 |
|
Acquisition-related costs and amortization of intangible
assets |
|
|
197 |
|
|
|
80 |
|
|
|
963 |
|
|
|
244 |
|
Change in
fair value of acquisition-related contingent consideration |
|
|
— |
|
|
|
— |
|
|
|
(128 |
) |
|
|
— |
|
Non-GAAP
operating loss |
|
$ |
(892 |
) |
|
$ |
(525 |
) |
|
$ |
(3,121 |
) |
|
$ |
(1,487 |
) |
|
|
|
|
|
|
|
|
|
GAAP net
loss |
|
$ |
(3,494 |
) |
|
$ |
(3,179 |
) |
|
$ |
(11,083 |
) |
|
$ |
(10,194 |
) |
Stock-based compensation and related taxes |
|
|
2,775 |
|
|
|
2,722 |
|
|
|
8,003 |
|
|
|
8,886 |
|
Acquisition-related costs and amortization of intangible
assets |
|
|
197 |
|
|
|
80 |
|
|
|
963 |
|
|
|
244 |
|
Income
tax benefit |
|
|
— |
|
|
|
— |
|
|
|
(69 |
) |
|
|
— |
|
Change in
fair value of acquisition-related contingent consideration |
|
|
— |
|
|
|
— |
|
|
|
(128 |
) |
|
|
— |
|
Non-GAAP net
loss |
|
$ |
(522 |
) |
|
$ |
(377 |
) |
|
$ |
(2,314 |
) |
|
$ |
(1,064 |
) |
|
|
|
|
|
|
|
|
|
GAAP basic and diluted net loss per share |
|
$ |
(0.18 |
) |
|
$ |
(0.17 |
) |
|
$ |
(0.56 |
) |
|
$ |
(0.55 |
) |
Stock-based compensation and related taxes |
|
|
0.14 |
|
|
|
0.15 |
|
|
|
0.41 |
|
|
|
0.48 |
|
Acquisition-related costs and amortization of intangible
assets |
|
|
0.01 |
|
|
|
— |
|
|
|
0.05 |
|
|
|
0.01 |
|
Income
tax benefit |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Change in
fair value of acquisition-related contingent consideration |
|
|
— |
|
|
|
— |
|
|
|
(0.01 |
) |
|
|
— |
|
Non-GAAP basic
and diluted net loss per share |
|
$ |
(0.03 |
) |
|
$ |
(0.02 |
) |
|
$ |
(0.11 |
) |
|
$ |
(0.06 |
) |
|
|
|
|
|
|
|
|
|
GAAP net loss |
|
$ |
(3,494 |
) |
|
$ |
(3,179 |
) |
|
$ |
(11,083 |
) |
|
$ |
(10,194 |
) |
Reconciling items: |
|
|
|
|
|
|
|
|
Interest
and other income, net |
|
|
(224 |
) |
|
|
(148 |
) |
|
|
(599 |
) |
|
|
(423 |
) |
Income
tax benefit |
|
|
(146 |
) |
|
|
— |
|
|
|
(277 |
) |
|
|
— |
|
Change in
fair value of acquisition-related contingent consideration |
|
|
— |
|
|
|
— |
|
|
|
(128 |
) |
|
|
— |
|
Depreciation and amortization |
|
|
655 |
|
|
|
484 |
|
|
|
1,717 |
|
|
|
1,446 |
|
Acquisition-related costs and amortization of intangible
assets |
|
|
197 |
|
|
|
80 |
|
|
|
963 |
|
|
|
244 |
|
Stock-based compensation and related taxes |
|
|
2,775 |
|
|
|
2,722 |
|
|
|
8,003 |
|
|
|
8,886 |
|
Adjusted EBITDA |
|
$ |
(237 |
) |
|
$ |
(41 |
) |
|
$ |
(1,404 |
) |
|
$ |
(41 |
) |
|
|
|
|
|
|
|
|
|
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