Ooma, Inc.

Good day and thank you for standing by. Welcome to the UMO Fiscal First Quarter 2025 Financial Results. At this time, all participants are in 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 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11. Please be advised that today's conference is being recorded. I would like to hand the conference over to your speakers today. Matt Robinson, please go ahead.

Thank you, Victor. Good day, everyone, and welcome to the fiscal first quarter 2025 earnings call of UMA, Inc. My name is Matt Robinson, UMA's Director of IR and Corporate Development. On the call with me today are UMA's CEO, Eric Stang, and CFO, Shig Hamamatsu. After the market closed today, UMA issued its fiscal first quarter 2025 earnings press release. The release is also available on the company's website, UMA.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. This link will be active for replay of this call for one year. During today's presentation, our 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 are subject to risks and uncertainties 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 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 hereof and we disclaim any obligation to update any forward-looking statements except as required by law. Please note that other than revenue or as otherwise stated the financial measures to be disclosed on this call will be on a non-GAAP basis. The non-GAAP financial measures are not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A discussion of why we present non-GAAP financial measures and the reconciliation of the non-GAAP financial measures discussed in this call to the most directly comparable GAAP financial measures is included in our earnings press release, which is available on our website. Excuse me. On this call, we will give guidance for the second quarter and full year fiscal 2025 on a non-GAAP basis. Also, in addition to our press release and 8K filing, the overview page and the events and presentations page in the investors section of our website, as well as the quarterly results page of the financial information section of our website, include links to information about costs and expenses not included in our non-GAAP values and key metrics of our core subscription businesses. These are titled Supplemental Financial Disclosure 1 and Supplemental Financial Disclosure 2. Additionally, our investor presentation slides include gap to non-gap reconciliation that also provides resolution of gap expenses that are excluded from non-gap metrics. Now, I will hand the call over to UMA CEO Eric Stang.

Thanks, Matt. Hi, everyone. Welcome to UMA's first quarter fiscal year 2025 earnings call. Thanks for joining us. We're off to a good start for this fiscal year, and I look forward to reviewing our results with you. UMA delivered $62.5 million in revenue and $3.6 million of non-GAAP net income in Q1. I'm pleased to report that each of these amounts exceeds our original expectations for the quarter and together they represent good momentum for the start of our FY25 fiscal year. Revenue growth in Q1 was solid at 10% year-over-year. We are particularly pleased with our Q1 growth in business services revenue, which grew 18% year over year. We are also pleased to have increased our total number of business users, despite a larger than normal turn of users by our largest customer, IWG, which was expected for the quarter. We are equally pleased with our operating cash flow of 3.6 million in Q1. and the fact that we were able to pay down an additional $4.5 million of debt in Q1, leaving us now with just $11.5 million of total debt. You will note that this is down from $18 million of debt just two quarters ago. In Q1, our operating cash flow was very nearly triple that of the same quarter a year ago. UMA Business, which comprises our leading Office, Enterprise, Airdial, and 2600Hz solutions, performed well in Q1. Our strategy to utilize our Pro and Pro Plus tiers to serve larger sized customers is working, with more new Ooma Office customers than in prior quarters, being 20 or more users in size. Similarly, our integrations and select verticals are helping to drive our growth. We added several new integrations in the quarter, including with Zendesk, HubSpot, and Square, Our integrations are also enhanced by some of the new features we added in Q1. Most notably, contact widget and scheduled messages, which along with our automated online bookings, digital call deflection, and other features, allow frontline businesses to interact with customers more efficiently over the web and through messaging. Enabling new features to help our customers engage with their customers is one of the ways UMA intends to maintain a leading position serving business customers, especially smaller sized businesses. We also continue to drive growth of UMA business through our strategy to replace aging copper lines. In Q1, we achieved several notable larger sized customer wins for Airdial. We also closed more new customers in total than ever before. Many of our largest new customers are starting with just a few lines to prove the solution in their environment and give them time to plan for rollout. Nonetheless, we believe they represent good momentum for Airdial. We also signed up additional Airdial resellers in Q1, bringing the total now to over 15 partners reselling Airdial. One of these, 3-phase, we announced in a press release during the quarter. 3Phase is a leading independent elevator service company that maintains 28,000 elevators nationwide. In addition, we announced recently that Airdial is now available in Canada and we are already engaged with new Airdial resellers in Canada. It's also an exciting time for UMA business on the wholesale front as we pursue our strategy to integrate UMA technology and applications into the 2600Hz platform. We are now two quarters into owning 2600Hz and couldn't be more pleased. We are making good progress toward realizing the synergy and technology strength made possible by this acquisition. We are also seeing significant market interest in our solution. Already, we are engaged with new customers who are working on deployment. One of these, I'm very pleased to report, has the potential to become one of UMA's largest revenue customers. We expect this customer to be deployed and to be able to make more announcements about them in the back half of this year. In general, we see strong interest in UMA's solutions. This interest spans both UMA business and UMA residential. While it's too soon to discuss many of the opportunities we are pursuing, I can mention a couple of new developments that are starting this quarter. I'm pleased to report that U.S. Cellular will begin offering both UMA Office and UMA Tello to its customers. Similarly, T-Mobile, who now offers UMA Tello to their wireless home internet customers, will also begin offering UMA Tello to their fiber customers. Several other engagements are either underway or under discussion, some of which could be quite meaningful to our outlook. I hope to have more announcements for you in the coming quarters. I will now turn the call over to Shig, our CFO, to discuss our results and outlook in more detail and then return with some closing remarks.