Exhibit 99.1

Ooma Reports Third Quarter Fiscal 2020 Financial Results

Business Services Revenue up 67%, Driven by Organic Growth and Broadsmart

Sunnyvale, Calif., November 21, 2019

-- Ooma, Inc. (NYSE: OOMA), a smart communications platform for businesses and consumers, today released financial results for the third quarter fiscal 2020 ended October 31, 2019.

Third Quarter Fiscal 2020 Financial Highlights

Revenue: Total revenue was $39.6 million, up 21% year-over-year. Subscription and services revenue increased to $36.5 million and was 92% of total revenue, driven by 24% year-over-year growth in combined Ooma Business and Ooma Residential services.

Net Income/Loss: GAAP net loss was $6.8 million, or $0.32 per basic and diluted share, compared to GAAP net loss of $3.5 million, or $0.18 per basic and diluted share, in the third quarter fiscal 2019. GAAP net loss includes a $3.1 million charge relating to certain restructuring activities taken at the end of the quarter. Non-GAAP net income was $0.1 million, or $0.01 per basic and diluted share, compared to a loss of $0.5 million, or $0.03 per basic and diluted share in the prior year period.

Adjusted EBITDA: Adjusted EBITDA was $0.6 million, compared to ($0.2) million loss in third quarter fiscal 2019.

For more information about non-GAAP net income (loss) and Adjusted EBITDA, see the section below titled "Non-GAAP Financial Measures" and the reconciliation provided in this release.

“Ooma delivered strong results for the third quarter of our 2020 fiscal year”, said Eric Stang, chief executive officer.  “We achieved 21% year-over-year revenue growth, driven primarily by 67% growth in subscription services revenues from business customers, and an important milestone with non-GAAP profitability.  We also took actions in Q3 to strengthen our focus on serving and growing business customers going forward”.

Business Outlook:

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

Total revenue in the range of $39.6 million to $40.3 million.

GAAP net loss in the range of $3.2 million to $3.6 million and GAAP net loss per share in the range of $0.15 to $0.17.

Non-GAAP net income in the range of $0.0 million to $0.4 million and non-GAAP net income per share in the range of $0.00 to $0.02.

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

Total revenue in the range of $150.5 million to $151.2 million.

GAAP net loss in the range of $19.8 million to $20.2 million, and GAAP net loss per share in the range of $0.94 to $0.96.

Non-GAAP net loss in the range of $1.4 million to $1.8 million, and non-GAAP net loss per share in the range of $0.06 to $0.08.


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The following information was filed by Ooma Inc (OOMA) on Thursday, November 21, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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