Record Financial Performance
Ooma reported strong Q2 financial results with revenue growing to $66.4 million. They achieved record non-GAAP net income of $500,000 and record adjusted EBITDA of $7.2 million, marking an 11% adjusted EBITDA as a percent of revenue.
Airdial Progress and Expansion
Airdial bookings more than doubled year over year. Ooma secured its largest customer win to date with a large national retailer, expecting to serve over 3,000 locations. They also expanded the number of Airdial partner resellers to 35.
Business User Growth
Business subscription and services revenue grew 66% year over year in Q2. Ooma saw an increased take rate for its Pro and Pro Plus offerings and grew its business user base by 9,000 compared to Q1.
Strong Cash Flow and Share Buyback
Ooma generated $6.4 million in operating cash flow and $5 million in free cash flow for Q2. They also spent $4.5 million on share buybacks in Q2.