$OOMA
OOMA INC

2021 Q3 Form 10-Q Financial Statement

#000156459021047362 Filed on September 08, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q1 2020 Q3
Revenue $47.06M $44.26M $41.41M
YoY Change 13.63% 8.88% 10.9%
Cost Of Revenue $17.75M $16.82M $15.91M
YoY Change 11.59% 4.73% 5.93%
Gross Profit $29.30M $27.44M $25.50M
YoY Change 14.91% 11.59% 14.25%
Gross Profit Margin 62.27% 62.0% 61.58%
Selling, General & Admin $20.35M $18.77M $17.00M
YoY Change 19.68% 1.96% -5.56%
% of Gross Profit 69.43% 68.4% 66.67%
Research & Development $9.416M $9.230M $9.050M
YoY Change 4.04% 6.71% -5.73%
% of Gross Profit 32.13% 33.64% 35.49%
Depreciation & Amortization $1.101M $1.070M $1.080M
YoY Change 1.94% 52.86% 6.93%
% of Gross Profit 3.76% 3.9% 4.24%
Operating Expenses $29.76M $28.00M $26.05M
YoY Change 14.25% 3.47% -5.62%
Operating Profit -$458.0K -$560.0K -$550.0K
YoY Change -16.73% -77.33% -89.58%
Interest Expense $19.00K $50.00K $180.0K
YoY Change -89.44% -54.55% -35.71%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$439.0K -$510.0K -$370.0K
YoY Change 18.65% -78.39% -92.6%
Income Tax $0.00 $90.00K $0.00
% Of Pretax Income
Net Earnings -$439.0K -$600.0K -$367.0K
YoY Change 19.62% -73.8% -92.63%
Net Earnings / Revenue -0.93% -1.36% -0.89%
Basic Earnings Per Share -$0.02
Diluted Earnings Per Share -$18.79K -$26.34K -$16.64K
COMMON SHARES
Basic Shares Outstanding 23.36M 23.20M
Diluted Shares Outstanding 23.36M

Balance Sheet

Concept 2021 Q3 2021 Q1 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.01M $28.31M $25.34M
YoY Change 18.42% 8.63% -11.58%
Cash & Equivalents $20.07M $17.30M $10.89M
Short-Term Investments $9.941M $11.01M $14.45M
Other Short-Term Assets $254.0K $395.0K $1.472M
YoY Change -82.74% -71.95% 9.77%
Inventory $13.84M $12.23M $9.249M
Prepaid Expenses $3.957M $3.152M $2.813M
Receivables $4.828M $5.228M $4.260M
Other Receivables $1.687M $1.600M $1.530M
Total Short-Term Assets $60.52M $55.99M $48.75M
YoY Change 24.15% 16.62% -6.72%
LONG-TERM ASSETS
Property, Plant & Equipment $19.96M $5.071M $11.64M
YoY Change 71.47% -3.78% 132.01%
Goodwill $4.264M
YoY Change 0.0%
Intangibles $5.513M
YoY Change -19.14%
Long-Term Investments
YoY Change
Other Assets $13.59M $12.21M $9.818M
YoY Change 38.4% 49.16% 57.21%
Total Long-Term Assets $42.67M $33.10M $31.88M
YoY Change 33.85% 1.56% 17.91%
TOTAL ASSETS
Total Short-Term Assets $60.52M $55.99M $48.75M
Total Long-Term Assets $42.67M $33.10M $31.88M
Total Assets $103.2M $89.10M $80.63M
YoY Change 27.98% 10.53% 1.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.002M $7.499M $4.840M
YoY Change 85.99% -11.77% -54.75%
Accrued Expenses $20.90M $22.73M $21.51M
YoY Change -2.87% 0.69% 57.61%
Deferred Revenue $16.80M $16.43M $16.27M
YoY Change 3.24% 3.98% 1.41%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $46.70M $46.66M $42.62M
YoY Change 9.56% -0.46% -7.97%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $11.29M $75.00K $3.800M
YoY Change 197.03% -56.9% 976.49%
Total Long-Term Liabilities $11.29M $75.00K $3.800M
YoY Change 197.03% -56.9% 976.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $46.70M $46.66M $42.62M
Total Long-Term Liabilities $11.29M $75.00K $3.800M
Total Liabilities $57.98M $49.55M $46.42M
YoY Change 24.91% -5.08% -4.26%
SHAREHOLDERS EQUITY
Retained Earnings -$127.0M
YoY Change 1.96%
Common Stock $4.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $45.21M $39.55M $34.21M
YoY Change
Total Liabilities & Shareholders Equity $103.2M $89.10M $80.63M
YoY Change 27.98% 10.53% 1.68%

Cashflow Statement

Concept 2021 Q3 2021 Q1 2020 Q3
OPERATING ACTIVITIES
Net Income -$439.0K -$600.0K -$367.0K
YoY Change 19.62% -73.8% -92.63%
Depreciation, Depletion And Amortization $1.101M $1.070M $1.080M
YoY Change 1.94% 52.86% 6.93%
Cash From Operating Activities $2.570M $2.210M $2.510M
YoY Change 2.39% -383.33% -697.62%
INVESTING ACTIVITIES
Capital Expenditures -$1.077M -$880.0K -$750.0K
YoY Change 43.6% -1.12% -27.18%
Acquisitions
YoY Change
Other Investing Activities $184.0K $1.080M -$200.0K
YoY Change -192.0% -25.52% -104.81%
Cash From Investing Activities -$893.0K $200.0K -$950.0K
YoY Change -6.0% -64.91% -130.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -508.0K -620.0K 280.0K
YoY Change -281.43% -395.24% -566.67%
NET CHANGE
Cash From Operating Activities 2.570M 2.210M 2.510M
Cash From Investing Activities -893.0K 200.0K -950.0K
Cash From Financing Activities -508.0K -620.0K 280.0K
Net Change In Cash 1.169M 1.790M 1.840M
YoY Change -36.47% 246015726714879900.0% -30.57%
FREE CASH FLOW
Cash From Operating Activities $2.570M $2.210M $2.510M
Capital Expenditures -$1.077M -$880.0K -$750.0K
Free Cash Flow $3.647M $3.090M $3.260M
YoY Change 11.87% 2709.09% 434.43%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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LesseeOperatingSubleaseExistenceOfOptionToExtend
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ooma Operating Lease Liability Current Statements Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementsOfFinancialPositionExtensibleList
AccruedExpensesAndOtherCurrentLiabilitiesMember
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Use Of Estimates
UseOfEstimates
<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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us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
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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us-gaap Lease Cost
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us-gaap Lessee Operating Sublease Option To Extend
LesseeOperatingSubleaseOptionToExtend
Company extended the sublease term for its corporate headquarters in Sunnyvale, California from an end date of January 31, 2022 to March 15, 2029.
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1366000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.95
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
120000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
16.28
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
59000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.90
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
2000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
10.52
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1425000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.80
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
13889000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1172000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
7.71
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
12707000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6098000
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
25500000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
7100000
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-367000
us-gaap Net Income Loss
NetIncomeLoss
-1326000
us-gaap Net Income Loss
NetIncomeLoss
-1433000
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22232176
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23209151
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22066771
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.02
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.06
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.06
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3400000
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3700000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3700000
CY2021Q3 us-gaap Purchase Obligation
PurchaseObligation
12000000.0
CY2021Q1 us-gaap Purchase Obligation
PurchaseObligation
5400000
CY2021Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0

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