Ooma, Inc.

Q1 2022 Earnings Conference Call

5/26/2021

spk_2: and only mode later. We welcome back a question and answer session and instructions will follow at that time. If anyone should require assistance during the conference, please press the Star zero. I would not like to turn the conference of return host. Mr Matthew robson. Please go ahead.
spk_1: Thanks alexander. Good day everyone and welcome to the first quarter of fiscal year 2022 earnings call of Yuma inc. My name is Matt Robinson, director of IR and corporate development. On the call with me today are um, a ceo eric stang and CFO rob the new ruler after the market closed today, UMA issued its first quarter of fiscal year 2022 earnings press release business wire. The release is also available on the company's website um 0.com. This call is being webcast live and is accessible from a link on the events and presentations page of the investor relations section of our website. I think we'll be active for replay of this call for at least one year telephonic replay will also be available for a week starting this evening, about eight p.m. Eastern time filing 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 and financial periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include those that forced in the press release we issued earlier today, and those risks 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 obtain, 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. The non gap financial measures are not intended to be considered in isolation or as a substitute for results prepared in accordance with Gap, a discussion of why we present non gap financial measures and a reconciliation of the non gap 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 call, we will give guidance for second quarter and full year fiscal 2022 on a non gap basis. Also in addition to our press release and eight K filing the overview page and events and presentation page and investors section of our website, as well as the results page of the financial info section of our website include links to information about costs and expenses not included in our non gap values and key metrics of our course, subscription businesses. These are titled supplemental financial disclosure one and supplemental financial disclosure to. Additionally our investor presentation slides include gaps and non GAAP reconciliation but also provides a resolution of gas expenses that are excluded from non gap metrics. Now I will handle handle the call over to um a ceo eric stank.
spk_0: Thanks man. Hi everyone. Welcome to humans key one fiscal year 2022 earnings call. Thanks for joining us today. I'm excited to share with you the strong start we've made to this year and I look forward to updating you on our key growth initiatives and outlook For fiscal Q one. A result again outpaced our guidance with revenue of 45.6 million and non gap net income of 2.8 million. A. Q1 revenues grew 13% year over year, comprised of 24% year over year, growth in business revenue and 5% year over year growth in residential revenue. We also once again generated positive cash flow from operations while investing in new growth initiatives, including international expansion across our business. I believe we executed well and we're on a good trajectory to realize our plans for this year. You may recall, I mentioned last quarter that 76% of small businesses to Find
spk_1: us less than 100 employees
spk_0: say they have yet to invest in IP based communications solutions when the office is are uniquely designed solution for such small business customers. The desire advanced features but do not have an IT department to implement them. We believe the office brings productivity improvements and savings that dr compelling value. Our strategy is to target this vast market opportunity primarily by scaling our sales and marketing programs, by adding features that drive increased customer adoption and raise our revenue per user. And by expanding internationally on the first of these scaling our sales and marketing programs, We executed well in Q1 and established several important new reseller relationships to support future channel sales growth for the quarter. Sales through channel resellers contributed approximate.
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