Ooma, Inc.

Q4 2021 Earnings Conference Call

3/1/2021

spk_2: Ladies and gentlemen, thank you for standing by and welcome to the Yuma Inc Fiscal. Fourth year, quarter and year. Sorry to the fiscal fourth quarter and year. 2021 Financial results Conference call. At this time, all participants are now listen only mode. After the speaker's presentation, there will be a question and answer session to ask a question during the session. You will need to press star one on your telephone keypad. Please be advised. Today's conference is being recorded, and if you require any further assistance, please press two are zero. I would now like to hand the conference over to your speaker today, Mr Matt Robinson. Please go ahead.
spk_0: Thank you, Gabriel. Good day, everyone. And welcome to the fourth quarter and fiscal year 2021. Earnings call of UMA Inc. My name is Matt Robinson, who was director of IR and corporate development on the call with me today, and the CEO Eric Stang and CFO Robbie Narula after the market closed today, issued its fourth quarter and fiscal year 2021 earnings. Press release via business wire release is also available on the company's website dot com. This call is being Webcast live, and it's accessible from a link on the events and presentations page of the investor relations section of our website. This length will be active for replay this call for at least one year. A telephone in group play will also be available for a week starting this evening about 8 p.m. Eastern time. Styling information for it is included in today's press release. During today's presentation are executives will make forward looking statements within the meaning of the federal securities laws. Forward looking statements generally relate to future events or future financial or operating performance. Our expectations and beliefs regarding these matters may not materialize and actual results in financial periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include those set forth in the press release we issued earlier today and those risk more fully described in our filings with the Securities and Exchange Commission. The forward looking statements in this presentation are based on information available to us as of the date here of and we disclaim any obligation to update any forward looking statements except as required by law. Please note that other than revenue or is otherwise stated. The financial measures to be disclosed on this call will be on a non gap basis. Non GAAP financial measures are not intended to be considered in isolation or as a substitute for results prepared in accordance with gaps. The discussion of why we present non GAAP financial measures and a reconciliation of the non GAAP financial measures discussing this call to the most directly comparable gap. Financial measures are included in our earnings press release, which is available on our website on this called, We'll give guidance for first quarter and full year in fiscal 2022 on a non gap basis. Also, in addition to our press release and eight K filing, the events and presentations page in the Investors section, as well as a quarterly results page of the Financial Information Section of our website, includes links and expenses not included in our links to costs and expenses not included in our non gap values and key metrics of our core subscription businesses. These are titled Supplemental Financial Disclosure one and supplemental financial Disclosure to. Additionally, our investor presentation slides include gaps and non gap reconciliation. It also provides resolution of gap expenses very excluded from non gap metrics. Now I will hand over the call to the CEO. Art stank.
spk_1: Thank you, man. Hi, everyone. Welcome to, um, Askew for fiscal Year 2021 Earnings call. Thank you for joining us today. I look forward to reviewing with you our fiscal 2021 accomplishments and our plans and outlook for this coming year. I'm pleased to report that Q four was another strong quarter and capped off a strong year for UMA. We again outpaced our guidance in Q four by delivering 44.3 million in revenue, 2.8 million in non gap net income and 3.6 million in Nevada. For the phone 2021 fiscal year, we achieved 168.9 million in revenue, while also generating 14 million in Ibadan. Moreover, we exited Q four with 160.5 million in annual recurring revenue, up from 143 year ago, driven primarily by 27% year over year growth in subscription services. Revenues from business customers all in I'm proud of our performance and excited as I look forward to the year ahead, diving a little deeper into our progress in Q four, I can share that. We again increased the percentage of new customers who adopt our office Pro higher tier of service in Q 4 45% of new office customers selected office Pro We believe our future editions during the year, including the launch of video meetings and enhancements to our desktop and mobile apps, helped drive this adoption.
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