Ooma Inc. (OOMA) stock prices were up 8.06% around market trading commencing on September 3rd 2021. This brought the price per share up to USD$21.32 early on in the trading day.
OOMA Stock Revenue Reports
Revenues for the second quarter of fiscal 2022 came out to USD$47.1 million, representing a 14% year over year increase. Subscriptions and services revenue was up to USD$43.5 million for the second quarter of fiscal 2022. This is comparable to the USD$38.5 million in the prior year quarter. This year over year difference was largely driven by the growth of the Ooma Business, resulting in subscription and services revenue accounting for 93% of total revenue for Q2 2022.
GAAP Net Loss/Income
GAAP net loss for the fiscal 2022 quarter came out to USD$0.4 million, which represents a GAAP net loss of USD$0.02 per basic and diluted share. This is the same as GAAP net loss reports for the prior year quarter. Non-GAAP net income came out to USD$3.3 million for the second quarter of fiscal 2022, representing a net income of USD$0.13 per diluted share. This is comparable to a non-GAAP net income of USD$3.1 million for the prior year quarter, which represented a net income of USD$0.13 per diluted share.
Continued Trajectory of Success
The strength of the fiscal quarter built on the improvement of several key metrics across the business. Revenues were up sequentially to 26% year over year, coming out to an expanded 48% of total revenue. OOMA stock continued allocating resources towards executing its leadership strategy, as it developed its enterprise business solutions and facilitated global expansion. The company is confident that the momentum generated will be adequately carried forward through the upcoming quarters.
OOMA Stock’s Guidance
Based on the positive results, OOMA stock expects total revenue in the range of USD$47.8 million to USD$48.5 million for the third quarter of fiscal 2021. GAAP net loss is forecasted to be in the range of USD$0.8 million to USD$1.6 million, while GAAP net loss per share coming out to USD$0.04 to USD$0.07 per share.
Future Outlook for OOMA Stock
OOMA stock reported a promising quarter, as evidenced by the strength of its financial reports for the second quarter of fiscal 2022. The company is keen to leverage the resources at its disposal in a bid to continue their trajectory of success. Current and potential investors are hopeful that management will be able to facilitate significant and sustained increases in shareholder value.
