Ooma (NYSE: OOMA) reported Q3 EPS of $0.13, $0.05 better than the analyst estimate of $0.08. Revenue for the quarter came in at $42.97 million versus the consensus estimate of $41.31 million.

Third Quarter Fiscal 2021 Financial Highlights:

• Revenue: Total revenue was $43.0 million, up 9% year-over-year. Subscription and services revenue increased to $39.6 million from $36.5 million in the third quarter of fiscal 2020, and was 92% of total revenue, driven by growth in combined Ooma Business and Ooma Residential services.
• Net Income/Loss: GAAP net loss was $0.4 million, or $0.02 per basic and diluted share, compared to GAAP net loss of $6.8 million, or $0.32 per basic and diluted share, in the third quarter of fiscal 2020. Non-GAAP net income was $3.1 million, or $0.13 per diluted share, compared to non-GAAP net income of $0.1 million, or $0.01 per diluted share in the prior year period.
• Adjusted EBITDA: Adjusted EBITDA was $3.6 million, compared to $0.6 million in the third quarter of fiscal 2020.

“Ooma demonstrated continued strong performance for the third quarter of fiscal 2021, with revenue increasing to $43 million and solid non-GAAP profitability,” said Eric Stang, chief executive officer. “It was a strong quarter across the business, with significant growth in sales through channel partners and increased adoption of our higher tier of service Ooma Office Pro. The strategy adjustments we made this year in light of the pandemic and our strong core value propositions for small businesses and larger businesses with special needs position us well for Q4.”

GUIDANCE:

Ooma sees Q4 2021 EPS of $0.08-$0.11, versus the consensus of $0.06. Ooma sees Q4 2021 revenue of $43-43.8 million, versus the consensus of $41.09 million.

Ooma sees FY2021 EPS of $0.45-$0.47, versus the consensus of $0.38. Ooma sees FY2021 revenue of $167.7-168.5 million, versus the consensus of $164.12 million.

For earnings history and earnings-related data on Ooma (OOMA) click here.