Ooma Inc. Files 2024 Annual Report on Form 10-K

TL;DR

<b>Ooma Inc. has submitted its 2024 Form 10-K detailing its fiscal year performance and financial standing.</b>

AI Summary

OOMA INC (OOMA) filed a Annual Report (10-K) with the SEC on April 2, 2024. Ooma Inc. filed its annual report for the fiscal year ended January 31, 2024. The filing covers the period from February 1, 2023, to January 31, 2024. Key financial data points and disclosures are included in the report. The company's business address is 525 Almanor Avenue, Suite 200, Sunnyvale, CA 94085. The filing was made on April 2, 2024.

Why It Matters

For investors and stakeholders tracking OOMA INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Ooma's financial health, operational performance, and strategic direction for the fiscal year 2024. Investors and stakeholders can use this report to assess the company's progress, identify potential risks, and make informed investment decisions.

Risk Assessment

Risk Level: medium — OOMA INC shows moderate risk based on this filing. The filing is a standard 10-K, which is a comprehensive annual report. While it contains detailed financial information, it does not inherently signal immediate positive or negative performance changes without further analysis of the specific numbers and narrative sections.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-K to understand Ooma's revenue growth, profitability, and any significant changes in its balance sheet or cash flow.

Key Numbers

• 2024-01-31 — Fiscal Year End (Conformed period of report)
• 2024-04-02 — Filing Date (Filed as of date)
• 001-37493 — SEC File Number (SEC file number)
• 0000950170-24-040394 — Accession Number (Accession number for the filing)

Key Players & Entities

• OOMA INC (company) — Filer name
• 2024-01-31 (date) — Fiscal year end
• 2024-04-02 (date) — Filing date
• 525 ALMANOR AVENUE SUITE 200 (address) — Business address
• SUNNYVALE (location) — City in business address
• CA (location) — State in business address
• 94085 (postal_code) — ZIP code in business address
• 6505666610 (phone_number) — Business phone number

FAQ

Industry Context

Ooma Inc. operates in the telecommunications and cloud-based services sector, providing unified communications solutions for businesses.

Regulatory Implications

As a publicly traded company, Ooma Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of annual reports on Form 10-K.

What Investors Should Do

1. Analyze the financial statements (income statement, balance sheet, cash flow statement) for the fiscal year ended January 31, 2024.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into performance drivers and trends.
3. Examine any disclosed risk factors and their potential impact on the company's future operations.

Key Dates

• 2024-01-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-02: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ending January 31, 2024, and contains information specific to this period.

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 OOMA The New York Stock Exchange
• $236.7 m — n recent periods. Our total revenue was $236.7 million, $216.2 million, and $192.3 milli
• $216.2 m — . Our total revenue was $236.7 million, $216.2 million, and $192.3 million in fiscal 202
• $192.3 million — was $236.7 million, $216.2 million, and $192.3 million in fiscal 2024, 2023, and 2022, respect

Filing Documents

• ooma-20240131.htm (10-K) — 3166KB
• ooma-ex19_1.htm (EX-19.1) — 64KB
• ooma-ex21_1.htm (EX-21.1) — 21KB
• ooma-ex23_1.htm (EX-23.1) — 4KB
• ooma-ex31_1.htm (EX-31.1) — 18KB
• ooma-ex31_2.htm (EX-31.2) — 17KB
• ooma-ex32_1.htm (EX-32.1) — 10KB
• ooma-ex32_2.htm (EX-32.2) — 10KB
• ooma-ex97_1.htm (EX-97.1) — 41KB
• img58558296_0.jpg (GRAPHIC) — 44KB
• 0000950170-24-040394.txt (&nbsp;) — 12641KB
• ooma-20240131.xsd (EX-101.SCH) — 1584KB
• ooma-20240131_htm.xml (XML) — 2417KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 13 Item 1B. Unresolved Staff Comments 45 Item 1C. Cybersecurity 45 Item 2.

Properties

Properties 46 Item 3.

Legal Proceedings

Legal Proceedings 46 Item 4. Mine Safety Disclosures 46 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 47 Item 6. [Reserved] 48 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 49 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 62 Item 8. Consolidated Financial Statements and Supplementary Data 63 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 91 Item 9A.

Controls and Procedures

Controls and Procedures 91 Item 9B. Other Information 91 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 91 PART III Item 10. Directors, Executive Officers and Corporate Governance 92 Item 11.

Executive Compensation

Executive Compensation 95 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 95 Item 13. Certain Relationships and Related Transactions, and Director Independence 95 Item 14. Principal Accounting Fees and Services 95 PART IV Item 15. Exhibits, Financial Statement Schedules 96 Exhibits 97

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K for the fiscal year ended January 31, 2024 ("Form 10-K") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The words "believe," "will," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "predict," "could," "potentially" and variations of such words and similar expressions are intended to identify such forward-looking statements, which may include, but are not limited to, statements concerning the following: our future financial performance, including trends in revenue, cost of revenue, operating expenses and income taxes; our estimates of the size of our market opportunity and forecasts of market growth; our ability to develop, launch or acquire new products and services, improve our existing products and services, manage our supply chain, and increase the value of our products and services; changes to our business resulting from increased competition or changes in market trends; our ability to increase our revenue and our revenue growth rate, anticipate demand for our products, and effectively manage our future growth; our ability to successfully maintain our relationships with our key retailers and resellers; our ability to attract and retain customers, including our ability to maintain adequate customer care and manage increases in our churn rate; our ability to improve local number portability provisioning and obtain direct inward dialing numbers; our ability to maintain, protect and enhance our brand and intellectual property; government regulation, including compliance with regulatory requirements and changes in market rules, rates and tariffs; our ability to comply with applicable FCC regulations, including those regarding E-911 services; increasing regulation of our serv

Business

Item 1. Business Overview Ooma provides leading communications services and related technologies that bring unique features, ease of use, and affordability to business and residential customers through our smart software-as-a-service ("SaaS") and unified communications platforms. For businesses of all sizes, we deliver advanced voice and collaboration features including messaging, intelligent virtual attendants and video conferencing to help them run more efficiently. For consumers, our residential phone service provides PureVoice high-definition voice quality, advanced functionality and integration with mobile devices. We drive the adoption of our platforms by providing communications solutions to the large and growing markets for business, residential and mobile users, and then facilitate growth by offering new and innovative connected services to our user base. Our customers typically adopt our platforms by making a purchase or rental of our on-premise devices, connecting to the internet and activating services, for which they primarily pay on a monthly basis. We believe we have achieved high levels of customer satisfaction, retention and loyalty. Our business and residential phone service solutions are each top-ranked by our customers according to surveys by PC Mag and Consumer Reports. Our services rely upon the following main elements: our multi-tenant cloud service, on-premise devices, desktop and mobile applications, and calling platforms. Ooma's cloud provides a high-quality, secure, managed and reliable connection integrating every element of our platforms. Our platforms power all aspects of our business, providing a high-volume, low-cost infrastructure for our communications solutions, and enabling a number of other current and future applications and services for productivity, automation, monitoring, safety, security and networking infrastructure. We generate revenues primarily from the sale of subscriptions and other services for our business

View Full Filing

View this 10-K filing on SEC EDGAR