Exhibit 99.1

Ooma Reports Fourth Quarter and Fiscal Year 2019 Financial Results

Fourth Quarter Ooma Business revenue grows 50% year-over-year

Named Winner of PCMag’s Business Choice Award for VoIP

Sunnyvale, Calif., March 5, 2019

-- Ooma, Inc. (NYSE: OOMA), a smart communications platform for businesses and consumers, today released financial results for the fourth quarter and fiscal year ended January 31, 2019.

Fourth Quarter Fiscal 2019 Financial Highlights

Revenue: Total revenue was $34.7 million, up 15% year-over-year. Subscription and services revenue increased to $30.9 million and was 89% of total revenue, driven by 16% year-over-year growth in Ooma Business and Ooma Residential.

Net Loss: GAAP net loss was $3.5 million, or $0.17 per basic and diluted share, compared to GAAP net loss of $2.9 million, or $0.15 per basic and diluted share, in the fourth quarter fiscal 2018. Non-GAAP net loss was $0.7 million, or $0.03 per basic and diluted share, compared to non-GAAP net loss of $0.5 million, or $0.03 per basic and diluted share, in the prior year period.

Adjusted EBITDA: Adjusted EBITDA was ($0.5) million compared to ($0.2) million in the prior year period.

Full Year Fiscal 2019 Financial Highlights

Revenue: Total revenue was $129.2 million, up 13% year-over-year. Subscription and services revenue increased 14% to $116.4 million and was 90% of total revenue. Product and other revenue increased 2% year-over-year to $12.8 million.

Net Loss: GAAP net loss was $14.6 million, or $0.74 per basic and diluted share, compared to GAAP net loss of $13.1 million, or $0.71 per basic and diluted share, in fiscal 2018. Non-GAAP net loss was $3.0 million, or $0.15 per basic and diluted share, compared to non-GAAP net loss of $1.6 million, or $0.08 per basic and diluted share, in fiscal 2018.

Adjusted EBITDA: Adjusted EBITDA was ($1.9) million for fiscal 2019 compared to ($0.2) million in the prior fiscal year.

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.

“The fourth quarter of our 2019 fiscal year was outstanding for Ooma, with significant growth in recurring revenues and continued execution on our key strategic initiatives” said Eric Stang, chief executive officer of Ooma. “Revenues grew 15% year-over-year, driven by 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 to expand our smart security solution. We remain confident that our focus on these initiatives will enhance our leadership position and further our growth.”

Business Outlook:

For the first quarter of fiscal 2020, Ooma expects to report:

Total revenue in the range of $33.5 million to $34.0 million.

GAAP net loss in the range of $4.5 million to $5.2 million and GAAP net loss per share in the range of $0.22 to $0.25.

Non-GAAP net loss in the range of $0.9 million to $1.3 million and non-GAAP net loss per share in the range of $0.04 to $0.06.

For the full fiscal year 2020, Ooma expects to report:

Total revenue in the range of $140.0 million to $143.0 million.

GAAP net loss in the range of $18.7 million to $22.2 million, and GAAP net loss per share in the range of $0.89 to $1.06.

Non-GAAP net loss in the range of $3.0 million to $5.0 million, and non-GAAP net loss per share in the range of $0.14 to $0.24.

1

 


The following information was filed by Ooma Inc (OOMA) on Tuesday, March 5, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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