$OOMA
OOMA INC

2016 Q3 Form 10-Q Financial Statement

#000156459016025066 Filed on September 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $25.49M $21.14M
YoY Change 20.62% 26.56%
Cost Of Revenue $10.95M $9.893M
YoY Change 10.63% 21.02%
Gross Profit $14.55M $11.24M
YoY Change 29.4% 31.87%
Gross Profit Margin 57.07% 53.19%
Selling, General & Admin $12.12M $10.02M
YoY Change 21.0% 40.76%
% of Gross Profit 83.33% 89.11%
Research & Development $5.839M $4.284M
YoY Change 36.3% 46.21%
% of Gross Profit 40.13% 38.1%
Depreciation & Amortization $510.0K $450.0K
YoY Change 13.33% 50.0%
% of Gross Profit 3.51% 4.0%
Operating Expenses $17.96M $14.30M
YoY Change 25.58% 42.35%
Operating Profit -$3.413M -$3.060M
YoY Change 11.54% 101.05%
Interest Expense $100.0K $600.0K
YoY Change -83.33% 500.0%
% of Operating Profit
Other Income/Expense, Net -$27.00K -$10.00K
YoY Change 170.0% -1100.0%
Pretax Income -$3.340M -$3.403M
YoY Change -1.85% 112.29%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.340M -$3.403M
YoY Change -1.85% 209.08%
Net Earnings / Revenue -13.1% -16.1%
Basic Earnings Per Share
Diluted Earnings Per Share -$193.3K -$803.8K
COMMON SHARES
Basic Shares Outstanding 16.73M
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $53.84M $59.17M
YoY Change -9.01%
Cash & Equivalents $6.712M $59.17M
Short-Term Investments $47.13M
Other Short-Term Assets $3.680M $2.810M
YoY Change 30.96%
Inventory $4.564M $7.221M
Prepaid Expenses
Receivables $4.478M $4.923M
Other Receivables $0.00 $0.00
Total Short-Term Assets $66.55M $74.13M
YoY Change -10.22%
LONG-TERM ASSETS
Property, Plant & Equipment $4.478M $3.159M
YoY Change 41.75%
Goodwill $1.117M $1.117M
YoY Change 0.0%
Intangibles $1.081M
YoY Change
Long-Term Investments
YoY Change
Other Assets $307.0K $695.0K
YoY Change -55.83%
Total Long-Term Assets $6.605M $6.052M
YoY Change 9.14%
TOTAL ASSETS
Total Short-Term Assets $66.55M $74.13M
Total Long-Term Assets $6.605M $6.052M
Total Assets $73.16M $80.18M
YoY Change -8.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.493M $7.320M
YoY Change -24.96%
Accrued Expenses $10.81M $11.49M
YoY Change -5.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $668.0K
YoY Change -100.0%
Long-Term Debt Due $0.00 $670.0K
YoY Change -100.0%
Total Short-Term Liabilities $31.43M $33.46M
YoY Change -6.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $292.0K
YoY Change -100.0%
Other Long-Term Liabilities $225.0K $252.0K
YoY Change -10.71%
Total Long-Term Liabilities $225.0K $544.0K
YoY Change -58.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.43M $33.46M
Total Long-Term Liabilities $225.0K $544.0K
Total Liabilities $31.66M $34.00M
YoY Change -6.89%
SHAREHOLDERS EQUITY
Retained Earnings -$72.10M -$58.09M
YoY Change 24.12%
Common Stock $2.000K $2.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $41.50M $46.18M
YoY Change
Total Liabilities & Shareholders Equity $73.16M $80.18M
YoY Change -8.76%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$3.340M -$3.403M
YoY Change -1.85% 209.08%
Depreciation, Depletion And Amortization $510.0K $450.0K
YoY Change 13.33% 50.0%
Cash From Operating Activities $670.0K -$2.020M
YoY Change -133.17% 20100.0%
INVESTING ACTIVITIES
Capital Expenditures -$710.0K -$460.0K
YoY Change 54.35% 109.09%
Acquisitions
YoY Change
Other Investing Activities -$2.390M $0.00
YoY Change -100.0%
Cash From Investing Activities -$3.100M -$460.0K
YoY Change 573.91% -48.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 170.0K 48.02M
YoY Change -99.65% -14223.53%
NET CHANGE
Cash From Operating Activities 670.0K -2.020M
Cash From Investing Activities -3.100M -460.0K
Cash From Financing Activities 170.0K 48.02M
Net Change In Cash -2.260M 45.54M
YoY Change -104.96% -3772.58%
FREE CASH FLOW
Cash From Operating Activities $670.0K -$2.020M
Capital Expenditures -$710.0K -$460.0K
Free Cash Flow $1.380M -$1.560M
YoY Change -188.46% -842.86%

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<div> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of the Company&#8217;s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the <font style="Background-color:#FFFFFF;color:#000000;">condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. </font><font style="color:#000000;">Significant estimates include, but are not limited to, those related to revenue recognition, the allowance for returns, stock-based compensation and warrants, valuation of goodwill and intangible assets, inventory valuation, regulatory fees and indirect tax accruals, accounting for income taxes including valuation allowances and fair value measurements. Estimates are based on historical experience, where applicable, and other assumptions believed to be reasonable by management. Actual results could differ from those estimates. </font><font style="Background-color:#FFFFFF;color:#000000;">These estimates are based on information available as of the date of the condensed consolidated financial statements, and assumptions are inherently subjective in nature; therefore, actual results could differ from management&#8217;s estimates.</font> </p></div>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentration of Risk</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;"><font style="Background-color:#FFFFFF;">The concentration of accounts receivable as of July 31, 2016 and January&#160;31, 2016, respectively are as follows:</font></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:100%;"> <tr> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:67.26%; border-bottom:solid 0.75pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1.5%; border-bottom:solid 0.75pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td colspan="6" valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:30.2%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">As of</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> </tr> <tr> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:67.26%; border-bottom:solid 0.75pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1.5%; border-bottom:solid 0.75pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td colspan="2" valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:13.84%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">July 31,</p> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2016</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1.5%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td colspan="2" valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:13.84%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">January 31,</p> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2016</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:67.26%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Customer A</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.5%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:12.84%; border-top:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">16%</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.5%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:12.84%; border-top:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">13%</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:1pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> </tr> </table></div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:6pt;margin-top:2pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="Background-color:#FFFFFF;">There were no customers that individually exceeded 10% of revenue during the three and six months ended July 31, 2016 and 2015.</font></p></div>
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