OOMA - Ooma rises 7.5% as business revenues drive Q1 beat

Ooma (OOMA) is up 7.5% postmarket following beats on top and bottom lines in its first-quarter revenues, with double-digit revenue gain paced by strong results serving business subscriptions. Revenue rose 13% overall to $45.6M. Meanwhile GAAP net loss narrowed slightly, and non-GAAP net income rose to $2.8M from $2.4M a year ago. EBITDA bumped up to $3.5M from a prior-year $3M. “Revenues from business customers grew 24% year over year and now represent 47% of total revenue, up from 45% in the previous quarter," says CEO Eric Stang. "Ooma invested during the quarter in marketing and channel development, new features, and international reach as part of its plan for fiscal 2022 to drive business expansion." Revenue breakout: Subscription and Services, $41.97M (up 11.6%); Product and other, $3.6M (up 34%). Conference call to come at 5 p.m. ET. Press release

For further details see:

Ooma rises 7.5% as business revenues drive Q1 beat