Record Non-GAAP Net Income and Adjusted EBITDA
Ooma achieved new records in the quarter for non-GAAP net income, which increased to $7.7 million, and adjusted EBITDA, which increased to $8.6 million.
Revenue Growth
Revenue for Q3 grew to $67.6 million, with a 4% year-over-year increase, driven by the growth of Ooma Business, including AirDial.
Successful Acquisitions
Ooma successfully closed the acquisition of FluentStream and announced the expected closure of phone.com, which are expected to add more than 165,000 users, $45 million of revenue, and $10 million of adjusted EBITDA annually before synergies.
Increase in Business Segment
Business subscription and services revenue grew 6% year over year in Q3, driven by user growth and ARPU growth.
Strong AirDial Interest
Ooma launched an updated version of AirDial and added nine new resale partners, its strongest quarter to date, with bookings growing 50% year over year in Q3.