Ooma Reports Third Quarter Fiscal Year 2021 Financial Results

Ooma, Inc. (NYSE: OOMA), a smart communications platform for businesses and consumers, today released financial results for the third fiscal quarter ended October 31, 2020.

Third Quarter Fiscal 2021 Financial Highlights:

  • Revenue: Total revenue was $43.0 million, up 9% year-over-year. Subscription and services revenue increased to $39.6 million from $36.5 million in the third quarter of fiscal 2020, and was 92% of total revenue, driven by growth in combined Ooma Business and Ooma Residential services.
  • Net Income/Loss: GAAP net loss was $0.4 million, or $0.02 per basic and diluted share, compared to GAAP net loss of $6.8 million, or $0.32 per basic and diluted share, in the third quarter of fiscal 2020. Non-GAAP net income was $3.1 million, or $0.13 per diluted share, compared to non-GAAP net income of $0.1 million, or $0.01 per diluted share in the prior year period.
  • Adjusted EBITDA: Adjusted EBITDA was $3.6 million, compared to $0.6 million in the third quarter of fiscal 2020.

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