$OOMA
OOMA INC

2021 Q2 Form 10-Q Financial Statement

#000156459021032167 Filed on June 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $45.57M $40.31M
YoY Change 13.07% 18.52%
Cost Of Revenue $17.49M $15.13M
YoY Change 15.6% 11.46%
Gross Profit $28.08M $25.18M
YoY Change 11.53% 23.23%
Gross Profit Margin 61.62% 62.47%
Selling, General & Admin $19.74M $17.47M
YoY Change 13.0% 5.43%
% of Gross Profit 70.3% 69.38%
Research & Development $9.307M $8.850M
YoY Change 5.16% -0.36%
% of Gross Profit 33.14% 35.15%
Depreciation & Amortization $1.099M $1.040M
YoY Change 5.67% 20.93%
% of Gross Profit 3.91% 4.13%
Operating Expenses $29.05M $26.32M
YoY Change 10.36% 3.41%
Operating Profit -$966.0K -$1.140M
YoY Change -15.26% -77.29%
Interest Expense $79.00K $80.00K
YoY Change -1.25% -69.23%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$887.0K -$1.070M
YoY Change -17.1% -77.53%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$887.0K -$1.066M
YoY Change -16.79% -77.51%
Net Earnings / Revenue -1.95% -2.64%
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share -$0.04 -$48.86K
COMMON SHARES
Basic Shares Outstanding 23.05M
Diluted Shares Outstanding 23.05M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.04M $23.29M
YoY Change 24.69% -37.36%
Cash & Equivalents $18.90M $9.036M
Short-Term Investments $10.14M $14.25M
Other Short-Term Assets $450.0K $830.0K
YoY Change -45.78% -33.28%
Inventory $13.48M $10.29M
Prepaid Expenses $3.012M $3.039M
Receivables $4.066M $5.420M
Other Receivables $1.645M $1.490M
Total Short-Term Assets $57.14M $48.06M
YoY Change 18.9% -15.57%
LONG-TERM ASSETS
Property, Plant & Equipment $10.67M $12.56M
YoY Change -15.04% 48.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $12.81M $8.710M
YoY Change 47.01% 34.41%
Total Long-Term Assets $32.93M $32.03M
YoY Change 2.8% 50.59%
TOTAL ASSETS
Total Short-Term Assets $57.14M $48.06M
Total Long-Term Assets $32.93M $32.03M
Total Assets $90.07M $80.09M
YoY Change 12.46% 2.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.453M $11.36M
YoY Change -16.79% -1.3%
Accrued Expenses $18.86M $17.44M
YoY Change 8.14% 2.11%
Deferred Revenue $16.08M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $44.39M $44.17M
YoY Change 0.5% 1.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.837M $4.710M
YoY Change -39.77% 86.17%
Total Long-Term Liabilities $2.837M $4.710M
YoY Change -39.77% 86.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.39M $44.17M
Total Long-Term Liabilities $2.837M $4.710M
Total Liabilities $47.23M $48.88M
YoY Change -3.38% 5.87%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $42.84M $31.21M
YoY Change
Total Liabilities & Shareholders Equity $90.07M $80.09M
YoY Change 12.46% 2.43%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$887.0K -$1.066M
YoY Change -16.79% -77.51%
Depreciation, Depletion And Amortization $1.099M $1.040M
YoY Change 5.67% 20.93%
Cash From Operating Activities $424.0K -$2.848M
YoY Change -114.89% -50.42%
INVESTING ACTIVITIES
Capital Expenditures $665.0K $762.0K
YoY Change -12.73% -227.0%
Acquisitions
YoY Change
Other Investing Activities $857.0K $170.0K
YoY Change 404.12% -89.51%
Cash From Investing Activities $192.0K -$591.0K
YoY Change -132.49% -157.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.469M $1.267M
YoY Change 15.94% -12.86%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 984.0K 795.0K
YoY Change 23.77% 9.81%
NET CHANGE
Cash From Operating Activities 424.0K -2.848M
Cash From Investing Activities 192.0K -591.0K
Cash From Financing Activities 984.0K 795.0K
Net Change In Cash 1.600M -2.644M
YoY Change -160.51% -33.87%
FREE CASH FLOW
Cash From Operating Activities $424.0K -$2.848M
Capital Expenditures $665.0K $762.0K
Free Cash Flow -$241.0K -$3.610M
YoY Change -93.32% -29.82%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<p style="text-align:justify;margin-bottom:6pt;margin-top:9pt;text-indent:0%;font-weight:bold;color:#003A5D;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates.  <span style="color:#000000;font-weight:normal;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the Company’s condensed consolidated financial statements and notes thereto. Significant estimates include, but are not limited to, those related to revenue recognition, inventory valuation, deferred commissions, valuation of goodwill and intangible assets, operating lease assets and liabilities, regulatory fees and indirect tax accruals, loss contingencies, stock-based compensation, income taxes (including valuation allowances) and fair value measurements. The Company bases its estimates and assumptions on historical experience, where applicable, and other factors that it believes to be reasonable under the circumstances. </span><span style="Background-color:#FFFFFF;color:#000000;font-weight:normal;">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 materially from those estimates, including uncertainty in the current economic environment due to COVID-19. </span></p>
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The Company leases its headquarters located in Sunnyvale, California, as well as office and data center space in various locations under non-cancelable operating lease agreements.
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CY2021Q2 us-gaap Lessee Operating Sublease Option To Extend
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
7.54
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
10550000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3194000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3008000
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
28100000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
6900000
CY2021Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-887000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-1066000
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23053512
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21897694
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.04
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.05
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3800000
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3800000
CY2021Q2 us-gaap Purchase Obligation
PurchaseObligation
9100000
CY2021Q1 us-gaap Purchase Obligation
PurchaseObligation
5400000
CY2021Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
CY2021Q2 us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
600000
CY2021 us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
600000

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