Ooma, Inc.

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 this session, you'll need to press star 11 on your telephone. If your question has been answered and you'd like to remove yourself from the queue, simply press star 11 again. As a reminder, today's program is being recorded. And now I'd like to introduce your host for today's program, Matthew Robeson. Please go ahead, sir.

Thank you, Jonathan. Good day, everyone, and welcome to the fourth quarter. and fiscal 2025 earnings call of UMA, Inc. My name is Matt Robison, 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 fourth quarter and fiscal 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 presentation 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 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 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 a 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. On this call, we will give guidance for first quarter and full year fiscal 2026 on a non-GAAP basis. Also, in addition to our press release and 8K filing, the overview page and 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 GAAP to non-GAAP reconciliation that also provides resolution of GAAP expenses that are excluded from non-GAAP metrics. Now, I will hand the call over to UMA CEO, Eric Stang.

Thank you, Matt. Hi, everyone. Welcome to UMA's fourth quarter and fiscal year 2025 earnings call. Thanks for joining us. We're pleased to report our results and to share our plans for our upcoming fiscal year. For Q4 FY25, which of course is our quarter just ended, we achieved $65.1 million of revenue and $5.8 million of non-GAAP net income. Our growth was solid and our non-GAAP net income took a significant step up versus prior quarters. For all of FY25, our revenue grew 8% year-over-year and our non-GAAP net income grew 17% year-over-year. We generated over $20 million of free cash flow and spent approximately $9 million repurchasing UMA stock. Looking forward, we believe we are well positioned to serve market segments with significant growth potential We also believe our higher non-gap net income represents a good start toward our plan to increase profitability going forward. As you know, we focus on four specific market segments, cloud communications, specifically designed for smaller sized businesses, POTS replacement for both business and residential customers, wholesale platform services, and residential telephony. We believe we are a leader in each of these segments. Given this is the start of a new fiscal year, I'd like to talk about our progress and plans for each. As we've shared previously, our strategy for serving smaller sized businesses is built around continued customer outreach to generate awareness of our services, converting customers up to higher value tiers of service, and adding select bigger business features in a simple to use way to extend the appeal of our solution to slightly larger sized businesses. Our progress in Q4 was on track with both the percentage of our customer base taking a premium tier of service and our average revenue per user growing in line with expectations. We were particularly pleased to win a large new UMA office customer with 282 users and to secure a double digit number of new office customers with over 25 users each. Looking ahead, we plan to continue our current cloud communications strategy targeting small to medium-sized businesses. We will expand our feature set in two key directions by launching new call center and new AI capabilities. We will also enable more integrations, and along with that, strengthen our vertical marketing activities. And we intend to extend our sales reach, particularly through channel agents, and by improving our wireless internet solution to create a stronger double-play offering. We believe millions of small to medium-sized businesses across North America have yet to gain the benefits of moving to cloud-based communications, and we have the ideal solution for them. Moving to our second key market segment, POTS replacement, our strategy is to provide the most sophisticated and complete solutions in the market and to leverage a combination of sales channels to increase our customer reach. To achieve this, we focus on three routes to market, direct, via channel agents, and through third-party resale partners. I'm pleased to report that in Q4, we made good progress both expanding our sales activities and helping existing resale partners launch with us. The large nationwide cable provider, who we discussed last quarter, will resell UMA Airdial. currently remains on track to start doing so by the end of March. And Frontier Communications, the large ILAC we won last year, is now working with us in a limited way to begin selling Umatello for residential POTS replacement, targeting customers of theirs who are at risk of phasing out. Furthermore, I'm pleased to share some particularly exciting news for Airdial with Marriott Hotels and Resorts. After an extensive review process, Marriott International Administrative Services just recently extended Marriott brand certification to Airdial, which we understand makes Airdial the only current de facto POTS replacement solution recommended and supported by Marriott. Our understanding is brand certification is a driving factor in vendor selection at all Marriott-owned or managed properties. and also strongly referenced at independently managed properties. We couldn't be more pleased to now have this exclusive preferred position with Marriott for Airdial. And I'm also pleased to highlight our recent announcement that the research firm Frost & Sullivan selected UMA Airdial as the competitive strategy leader in POTS replacement. It's terrific to receive this external validation of the strength of our Airdial solution. Our plan for FY26 is to continue to execute our POTS replacement growth strategy by introducing improved and lower cost product solutions for both business and residential, and by expanding sales activities across all three routes to market. We intend to add resale partners every quarter and to assist them to drive the fastest sales ramp possible. We believe the POTS replacement market opportunity is quite sizable in the millions of lines, and market dynamics are increasingly driving companies to take action. These trends make this segment a key opportunity for UMA. Our third key market segment is wholesale platform services, where our strategy is to strengthen our 2600 Hz platform by incorporating UMA's turnkey solutions to employ the modern design architecture of our 2600 Hertz solution to serve customers' unique requirements, and to capitalize on the market shift away from older and less substantial platforms that is starting to occur. In Q4, we launched new turnkey desktop and mobile apps, expanded our sales resources, landed a couple of small new customers, and continued proof of concept engagements with other potential customers. Securing customers and scaling them into a sizable revenue takes an extended amount of time in this segment, but we are quite excited about the strength of our platform and the market dynamics which we feel support adoption of new solutions. Finally, residential telephony remains a key segment for UMA. Our strategy is to maintain our retail placements in customer awareness marketing at Best Buy, Amazon, Costco, Walmart, and other retailers, to drive customer interest through new lifestyle bundles, such as for seniors, families, and home offices, to capitalize more on Telo LTE, which combines wireless internet connectivity with Telo, and to expand through enabling incumbent and competitive local exchange carriers and other fiber providers to replace their residential POTS lines with UMA. In Q4, we began ramping residential telephony sales at the CLEC I announced in Q3, We also made progress, as mentioned earlier, towards starting limited sales with Frontier Communications. Looking forward, we view residential telephony as a stable part of our overall business, and we will explore whether we can drive growth via partners who need to replace their existing residential pod slides. Overall, I believe we enter FY26 with good momentum across many parts of our business. We are mindful that our outlook depends in particular on the pace at which our partners sign new customers, and the timing of when we secure new partners and customers. And so we feel we need to be cautious with our outlook while our plans materialize. 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.