Ooma (NYSE: OOMA) reported Q1 EPS of $0.02, $0.05 better than the analyst estimate of ($0.03). Revenue for the quarter rose 13% to $27.6 million versus the consensus estimate of $28.14 million.

"We are progressing well on our strategy to grow Ooma Office which delivered strong results and we continue to make significant advances on Office, including launching service for WeWork in France," said Eric Stang, chief executive officer of Ooma. "Our subscription services revenue for Office and Telo combined grew 20% in Q1 versus a year ago, however, we are disappointed that revenue from both Business Promoter and Talkatone declined in the quarter. We are behind on some key residential initiatives for the year and are taking steps to improve our execution. We believe our core business is fundamentally strong and we have a great opportunity ahead."

GUIDANCE:

Ooma sees Q2 2018 EPS of ($0.03)-($0.05), versus the consensus of ($0.03). Ooma sees Q2 2018 revenue of $27.6-28 million, versus the consensus of $29.61 million.

Ooma sees FY2018 EPS of ($0.08)-($0.13), versus the consensus of ($0.11). Ooma sees FY2018 revenue of $113-116 million, versus the consensus of $122.52 million.

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