OOMA - Earnings call transcript Q1 2023

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Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Ooma's First Quarter Fiscal Year 2023 Financial Results Call. [Operator Instructions] Thank you. Matt Robison, you may begin your conference.

Matt Robison

Thanks, Josh. Good day, everyone, and welcome to the first quarter fiscal year 2023 earnings call of Ooma, Inc. Robison, of Matt Development. and is name Ooma's IR Director Corporate My

today, the first accessible the are press the Hamamatsu. website, and CFO, closed Investor link today available of telephonic in included section with release. live information After being of for webcast Events of evening ooma.com. This a issued CEO, market page On release. and link also me on also press company's for and This for Ooma's release today's A call Relations available our website. XXXX starting Dialing this fiscal for X about will the quarter year replay it be Eric Presentations from is Stang; week the This is Ooma replay will year. earnings is active its X:XX is on be a it Time. Shig at PM call this call least Eastern

our forward-looking will presentation, During make laws. the statements meaning the securities today's executives of federal within

generally future events performance. financial operating or to statements relate or future Forward-looking

that considered forward-looking in why release, which financial non-GAAP and will The call, non-GAAP reconciliation by press measures financial any in measures, information GAAP website. full year fully and second our this guidance the on and The regarding projected. matters those stated, of discussion measures call, on the with this our X-K and prepared most A forward-looking is or isolation actual and of present press on beliefs comparable call directly earnings that any available to on accordance as to in in cause actual is in to the in release from results risks discussed we and disclaim a described intended law. our On filing, be these and we subject include website this included expectations may financial in quarter Events give statements Investors addition other Presentation of info the based as non-GAAP uncertainties a in page basis. of section release XXXX or could GAAP. be statements, results update measures about information to will basis. and press and for be and to page our more and in Also, non-GAAP are costs measures as Financial a revenue to we of section today not not as to Overview results available from as materially differ us results financial Commission. are These core disclosed substitute not X include our Disclosure Exchange Our financial forth the risks presentation non-GAAP in the website Supplemental financial date otherwise issued Supplemental non-GAAP the page a with of our Financial on except hereof, those X. are of risks earlier required those included Securities and and businesses. titled our the links values as filings materialize, this than we key expenses, to metrics to are the our the Please These subscription well note obligation and Disclosure set

GAAP metrics. to reconciliation from expenses non-GAAP provides Additionally, that GAAP that our include also non-GAAP are slides presentation of investor excluded resolution

to CEO, will call Ooma's Eric hand over I the Now Stang.

Eric Stang

results to an our joining review as everyone. plans it's XXXX QX QX with for strong to Hi, This my Thanks year and several pursue growth initiatives Ooma, call. looking pleasure time you is Matt. exciting us. important earnings Ooma's Welcome and Thanks, our forward. we fiscal for today

income QX again QX for revenue million. $X was and and line. top million, $XX.X the quarter in to non-GAAP bottom on net the both once line increased cash million, expectations exceeded results was Our $XX.X

happy off our year. a XXXX fiscal be We start to on good to are

made to with coming our of sales added in and resources our We we on sales marketing progress user headcount During additions QX, most and strong expanding board these marketing and team XX business late QX. approximately driving growth.

We new and also agents. engaged with XXX over VARs

reseller new we As Ooma us AirDial is of relationships introduction our expected, resellers in exciting helping expand and a offering for and is the community.

this, opportunity our from our as For by base well. of grew the is Along rebound QX, pipeline we which user a business quarters. last users, of approximately couple XX,XXX grew with

as are by ahead look We of to encouraged accomplishments rest we these year. the this

Plus our Pro also progress Ooma launch give recent and as of Ooma Our look confidence Office us Office we ahead. with Pro

hybrid vertical, from Ooma deals as set shared, call Pro particularly center we and are satisfying select over be customers as for and rate Across Office new the lineup, properties. verticals XX% basic month, per more. take now platform. of customers users of used Essentials now while And our Our per the to of within installed hospitality Pro Pro benefit to Pro in to well, These Office we from targeting. XX we to XX% hot launched at brings progress force which Enterprise integration, where launching over Moreover, QX brings features $XX.XX wins features, we and closed today features should deals can a picked larger-sized in Office environments Office force Plus Plus Plus also We Office month. Pro sales Pro Plus, per made base, users. did the the and easy-to-use small addressable intend Pro Pro Plus we office new our in QX Pro just new facilitate have now With after queuing opportunity so desking continuing of take at up advantage which in to with taking our business Office feature versus phones and consists QX. quarters. hotel both coming turnkey, to larger at Office Pro add step-up $XX.XX tier. Plus included customers for sales the market. amongst work Office needs, can call expand $XX.XX exciting are Plus, new Pro, month completes serve typically

We also large serve a continued we over firm, nationwide. services our X,XXX with now where franchises franchise of users growth

the development interact Enterprise, our complete this Enterprise Ooma of modernize the our we we ways half solution. to admin year. In Ooma app apps effort, with in remain and users to we've an we have of new previously, as ongoing and of desktop on portal further discussed track Regarding mobile our first update QX, released

XX,XXX also customer. began earnest, with in the with We with additional QX, users track we Late rollout and users to in this are our rollout ended QX on about customer. our largest at we

users expanding X,XXX in this with more way and QX, onboard to quickly of currently additional are expect goal the We users year. adding XX,XXX on or our fiscal this during to customer

opportunity this most and Europe. spans customer. North specifically, yet, expansion across both In we countries, Europe our users with Our now America serve XX located

is priced now, we else, released per month. a and a customers basis, reseller XX% per has, us customer, our will lines to switch. have some month see ago in see QX, year millions a gaining you per select business over AirDial that AirDial price replacing and AirDial, or is of the is $XXX costing in which CLEC the AirDial agents, the One and strategic for customers with per and doubled Ooma that's on recall, enhancements. user great announced believe they U.S., Generally, to AT&T their we customers solution new by additional line. shared Device aging line. use to financial to we of similarly partners. Moreover, their per copper used in currently cases, more interest alone. copper our rapidly costing month To bill network reported As other to copper Remote offerings $XX the In year copper now that several of example, that $XXX for Ooma we copper AirDial is $XXX we opportunity month, pay costly $XXX jumped to make for With If for of one to and provides in are the by the working from now launched AirDial they QX perspective, incentive customers market sunset provide $XXX some expect Manager, last lines XXXX. for massive. copper individual nothing on lines tens

are ramp up to supply So limited, that optimistic been sales. AirDial quarter our far, we we but cautiously can has this build units enough

In addition, of to Sales our on to the Connect Ooma in wireless QX trend capitalize Internet move to strongest initiatives Internet yet. forward. wireless were our XG continued

Internet In Internet, initiatives. success wireless Telo their finding sales Similarly, Internet a As in a started you marketing businesses we've also QX, fixed sales driven is as who, and our T-Mobile an we with T-Mobile, who by to have are with take implement low-grade only service. to Telo, with second will backup businesses, for know, offering critical DSL as option we need QX initiatives Ooma before, marketing of whose additional home add-on hold. anticipate as is grew partnership T-Mobile's discussed

announcement like Best the magazine's is for Ooma of Finally, award year Choice VoIP the to Business I'd we Business annual the surveys row, a its readers. This made Choice Magazine's won PC that in for in highlight ninth determined Award March prestigious System. from

discuss especially call combination and our Shig superior uncommon and results our We Hamamatsu, outlook provider. of it some this use, more now as value over of CFO, So return the to unique believe features, and is detail resonating will with that again then we provide advanced gratifying our customers. that remarks. once closing to top a the Ooma I find with demonstrates strategy ease turn to emerged in

Shig Hamamatsu

our the for accounted the Ooma year has was strength $X reached the subscription milestone which of fiscal quarter On range quarter the the income financial our guidance and time million, in results Business, first total good first and company's afternoon, delivered $XX.X full grew year-over-year $XX.X million. with review history, basis, then quarter exceeded a guidance XX% Thank million total Eric, driven in financial first which $XX.X to achieving compared of in XXXX. outlook and I you, the $X.X of for We revenue and as revenue $X.X quarter, Non-GAAP first million. net our prior revenue, will with million of by quarter. year strong XX% another over results services quarter of range our XX% also million second to total in begin to exceeding a and the for everyone. for provide a

Now some ARPU and growth subscription services as our as driven XX% Business grew growth. revenue details user subscription X% QX revenue year-over-year revenue. in grew services by QX, well on and Residential Ooma year-over-year.

For or of quarter. which million, $X.X quarter, revenue was subscription total XX% the $XX.X XX% revenue, in prior year service and and Product to quarter prior year comparable revenue total compared was in other first quarter. to first million was the the the

quarter, with total by business quarter or of first Now core the from quarter some users the at X,XXX,XXX Business details growth XXX,XXX of on We the key last the customer users, from an users. metrics. in users the the increase end core users, core our fourth At of year, of QX. we up driven had XX,XXX XX% ended first our end X,XXX,XXX fiscal

and Our of blended quarter, or $XX.XX, Pro driven average Office up year-over-year $XX.XX year prior subscription X% higher users. increased in mix ARPU, including per the by to monthly core services Business revenue users, in ARPU user, from increase an

now was users year the Office Pro the XX% a nice service, and XX% Pro new QX, in in to prior with have in which Pro Office our from During for quarter. quarter, of Office XX% Office tier. users Overall, opting we our saw first Office take rebound XX% subscribed of rate up

Our to million $XXX.X in year-over-year. and QX was up exit recurring XX% annual grew revenue

subscription prior in the quarter. to XX% Our compared year rate for as was quarter dollar retention net XX% the

some on Now details gross our margin.

the XX%, scale and year-over-year, to greater first in a $X.XX EBITDA and gross driven and as first million year-over-year quarter of of quarter of diluted million well as the the the to or and The such of On gross last first gross quarter. or services the and was for the earnings margin in or $X.X We QX. which, subscription as was services by negative increase quarter to some in expenses. QX cash XX% as income the AirDial. quarter, million now $X.X activity per million share basis, XX% in prior for $X.X Ooma $XX.X $X.X Product million, million, the gross ARPU million, driven year QX same operations period products gross year mix mentioned $X.X XX% which compared total a services higher Business. year. higher customers. $XX.X prior XX% first million first in Research The in an a of for and up for up of XX% our features margin, Non-GAAP other expenses over the channel details the the this revenue, total total XX% new for as margin total by as G&A $X million revenue, quarter. for XX% mix margin from $XX $XX.X million attributable from subscription subscription total of net XX% operating was or Ooma for in the compared to margin and gross negative and year. generated $X.X on period Office in Cash was higher represented revenue Adjusted investments X% million earlier, at and the Total $X.X diluted of by in margin or of $X.X and same million an up Enterprise, of X% I from marketing Business subscription per XX%, for improvement the quarter total total revenue which in revenue, compared from Ooma expenses development service were and the XX% compared prior quarter. quarter million operating compared same QX with first marketing were basis $X.XX prior was for last improvement overall total last was Our year. to was revenue was development as end for And new first for to was share XX% prior period comparable to year. prior quarter to both year. quarter. year-over-year the year the was and expenses having were expenses in were earnings quarter million ended Ooma Sales compared higher year for the for or quarter on of $X.X the investments year driven the improvement

with On year. of employees quarter from X,XXX of which XX and the over headcount last front, end we contractors, fiscal the an increase ended the represented

As the marketing in functions. primarily and came earlier, Eric quarter the increase from first sales mentioned the

quarter and Now such and I a year provide will guidance second of on has Again, intangibles. for expenses basis as for full non-GAAP stock-based adjusted fiscal is guidance the and compensation amortization our XXXX. been

in million, quarter between million. revenue which fiscal total expect We of second of other revenue range for $XX.X the and includes $XX.X million be $X XXXX product to to the $X.X of million and

range second expect the $X.X the quarter to of to million million. $X.XX. We EPS be net and diluted between $X.XX $X.X to Non-GAAP be expected income in is

We quarter. diluted for have second assumed average the weighted million XX outstanding shares a

be year million, million to For our XXXX, $XXX.X from $XXX.X million. total full of to million of in fiscal $XXX.X guidance $XXX.X the previously revenue we increase an range issued range expect to

previously $X.X issued million to fiscal for our from million. $XX the to up to $X.X range non-GAAP We guidance in net $XX.X income expect million XXXX range million, of be of

in to $X.XX. to range fiscal of We non-GAAP XXXX, diluted EPS the be expect for $X.XX

back approximately diluted will to to with our have weighted fiscal with shares We assumed Investor pass our focus I executing remarks. continue our some shared as Day we our average fiscal summary, strong million objectives, year for outstanding we In are to event. XXXX. new XX.X for it now recent on during closing you Eric? start to long-term we pleased Eric

Eric Stang

view strategy strategic the we event, ever you April on our for We priorities laid the out able you On company, website. and for the encourage but XX, attend, At Shig. held not, growth. Thanks, that we its to highlighted we the five team if presentation were Ooma Day. hope Investor first management to

the Pro is business our leadership to customers, Ooma of through for small which announced. serving first extend The launch just example, Office Plus, we

second and develop new channels. verticals to The is stronger sales

we for solution. growth by we and driven internationally, and of the copper the innovative replacement Fourth expand strong the to our opportunity to And our a is is place XG initiatives continued AirDial capture us fixed largest these Internet. with fifth, position you. Third leverage thank success. believe trend in serving wireless POTS that, toward needs to line Altogether, With want customer.

take will your We now questions.

Operator

comes Your of Kinstlinger first with Instructions] the Partners. question from line Brian [Operator Global Alliance

is line open. Your

Brian Kinstlinger

Great Great. quarter. much. Thanks so

Eric Stang

Thank Brian. you,

Brian Kinstlinger

Can their quarter, think, focus current there website, a e-mail, which discussed quarter? and with Telo? if T-Mobile mentioned more of partnership our streaming, then outside advertising begun? to the I the strategic us you advertising campaign quarter. Thanks. the being T-Mobile efforts Is on last Ooma on give on know already pickup was some You in you other detail any in by during marketing they're going that first or And TV, we, and

Eric Stang

going I besides that QX. they their about I website have sure Brian. because out There but T-Mobile a and T-Mobile for happen were they is to just solution. opportunity can, for I are additional I that's great I'm QX be we're can many not which in before things in we in being could And a what do away them. happened walking talk it, double-play with think This want happened there will be market, don't is of as what that to serve will share the there us more to If to be happened, what Sure. about do that from talk it'd things appreciate. there on them, And customers, yet. you had

I'm fully, think we're and next both to we answering with installed so I do. question them. the also but don't things meet And marketing and And have about steps, customers We close biweekly, we a planning it's if base. new your know to relationship to going

at me Let it leave that.

Brian Kinstlinger

in difficulty that. your appreciate Great. One answering I follow-up.

made AirDial and been it product in it shipping out. chain building You’ve has clear difficult supply the

X can months where for all start you. take That’s chain that might Thank much say, through challenges to me. build today you better make? will And for think you How of or us ago? supply product the easing maybe when versus, capacity inventory that Just Ooma? get

Eric Stang

Sure. Happy to comment on that.

quarter a and So units you visibility beyond trial when not we of with things. and much that we ago, supply were beta a of we building did chain have ramping those number sorts talked small for and the were

it's building of like anything, days. car a with these As kind

except need from stops device. car you part that little everything get you got you You've that X building whole the can't that

new supply a a chain. today, we're here sit we too, ramping As keep mind AirDial, in is with new This and up product.

We to beyond call little is too, units that to tell XX,XXX have a overstatement, X,XXX another get close that AirDial. us. harder units get thousand balance redesign to through, get couple new And dependencies or first but the hurdles, of through we build one in which some it, very we start designs of it by been them in can are or able to we've reduce kick X,XXX with in to the today, I vendors of quarter, very, multiple areas. should through possible vendors through. last units make those key engage QX. or the to But with build we able a We working to you, certain going be and provided That's believe more to an two we the do and give. this work can can Visibility will areas being designs with to

will we we're So like the achieve comment we large whether have and wait trying and on to our that we do in we opportunity our year, we terms can of more. see, serve what to this can upside we guidance know until outlook to feel

Operator

from William of Blair. comes Stotler question line next Matt with Your the

open. is line Your

Halle Mogk

Thanks features, whatnot. up still start customer want are the for you It's what the customers, very within Ooma capabilities, It's from the force, plan. with kind got for Thanks. sales simple Plus is Mogk hot customers? set center the the to new call interest the base? also really obviously Any existing early, Matt taking Stotler. interest some but This desking intriguing Hey. of Pro upsell ability from new and feedback on I but opportunities integration getting with or early to question. Office the Halle

Eric Stang

couple a to sort train Yes. it, of in to days. We had sales it We’ve had time always is we even fun is, last what truly people just the them launched of sell see. the which it before on

For are very a customers, features. little bit valuable these larger-sized

it to That's their customer a that's a didn't fairly talking have we needs. business integration, force We that are right key now we have nonstarter. be in would sales if for a sizable, them

in larger also where simple running and an get a businesses, and operation you of valuable and analytics That's you've monitor see got things. some taking a you very a As bit sized call people a that calls little to handful coming too, can feature. order, center are

these well be forward. received that know will with, particularly in we think, the So I customers market, going

release and opportunity market offer we allows haven't our to We too, we come our mentioned that our installed half -- we this exciting But what our the that have emphasize, four are of are to and top expand in features I Two there learn which base, will as for of that with already, but will just three to want press quarters. or this done. in we that. already think couple Office. dozen do super the that us another be obviously of will I go next to we've out addressable there features more on than over

Pro, it, blossom, rate Plus to package. we we Pro we of And kind it and with come of So And with launched more you started too. when Office Office Plus. may recall to into first that development more with then more a the added we kind certain as there's and Pro got expect

Halle Mogk

that impact and segment last helpful. on the marketing focus but last on much That's follow-up, about the maybe the you. Could you macro as I hiring could, -- the mentioned hiring that market market? know the quarter, given as of if didn't sales you just customers wish. you partners, tough it. Got environment. just given also of on then you your And for your I Thank and Ooma, a just year SMB grow tough hiring talk

the adding this think the year? Thank about to plans for quarter. of growth for So that priorities going see you. headcount XX it's How and the should remainder new forward we additions great

Eric Stang

tough who do, to we kind well we've it's things And great tough. it's find who hustle. got you a team. can who the want people, is job. do takes that the Ooma, with Hiring are demanding wants Yes. but particularly I to it a person, really do because to said, -- of But want mean to

go to the we thrilled of the see are hire. not want And attrition well see X And growth we up XX%. track to on now but this will or those know work by We year. I to all we will in first X over what that, continue out. months, achieve people some to I believe we're

year we've for and new And approaching people the days on got year. pretty ways things board of comfortable this the year, for new last the our we'll problem. plan doing plan people. execute bring But we XXX some those what by sales team year by and of before Our end these didn't was our XXX and That's the is the I'm to it. increase we are about end marketing well

Halle Mogk

it. Got Thank helpful you. color. That’s

Operator

Latimore Your with Capital next Mike question comes Markets. from line Northland the of

line open. is Your

Mike Latimore

Thanks. Yes, nice quarter as well.

So pipeline, XX% business strong growth? user I this does -- that you large Eric, and subscriber mentioned quarter of kind subscription the there's customer hit ramping. goal guess, then growth you really confidence strong adds that can you give in of a

Eric Stang

in we not get know will there we I in there didn't does. it I'm either. sure Yes, QX. QX get

piling user QX they'd in fact, guidance and quarters, we QX, first we've us the good or year. and bit where given had, you we more I QX, effect bounce metric with In won't, feel contributing, here that be we the in you. things adds those the from up year. of if for But had likely There's more half flow-through adds in with if of probably the the yes, underway a will, about back have for this in user a

Mike Latimore

catalyst ramping what year? And the of this large kind was Great. to your get customer

Eric Stang

gosh. Oh,

we've -- when of well, it's users, just about you're as to bring a lot on the -- it's talked we've work. trying so many talked past As --

as we users as to spent Ooma possible. a as bring these year so developing to capabilities tools last time lot and and cost effectively over And quickly of

make didn't we things good those so lot year. the they the last to And want going doing is But be users a with of news mean straightforward in a do anticipate the all Frankly, us someday we to we've user six us. ahead figure were for now, this And forward. the additional as some of invested customer us. of user would -- they to going behind we and the customer past, are much things us. apply ramp number I that more ramp can discussed

we ramping really in earnest to excited are So be now.

Mike Latimore

ARPU [Indiscernible]. And you growth that. did have number? missed might I have lastly, an

Shig Hamamatsu

Yes, Mike. Yes.

-- growth year-over-year X%. latest $XX.XX, so on blended was was we So ARPU our that

Mike Latimore

That’s correct.

a lot. Okay. Thanks

Shig Hamamatsu

Thanks, Mike.

Eric Stang

Thank you.

Operator

Your next the question from Matthew comes line of Benchmark. Harrigan with

Your line open. is

Matthew Harrigan

Thank you. out seeing just upside side. the know talk that's heavily you business and number, really to about breaking your But And consumer? do were to but wherewithal us you that were any give delving you're a side to deliberately you in health faster I momentum and grow choosing side signs capacity And can sure clearly, that not just you stress? and seeing specifics, marketed consumer think the you very that where of about as you you economic Also valuation you talk dollars there? apply ARPU as on if won't upside. have marketing the Are then And the business have smaller because secondly, consumer the on then into businesses financial of sometimes before, you're okay? side on relative the I'm -- the business have much where broader the product, could fundamental you the trends you

Shig Hamamatsu

Yes.

impact the will question maybe ARPU So I will first, the Eric. to consumer take Matt, pass side and I then

And another the the like the we ARPU over on we say and published investor said, the also so too That But that again, blended we was -- saw so we specific, Business, Business, deck, I the And about I there, growth. not I $XX.XX. quarterly, know we growth of if think are at Pro Plus in quarter growth. Pro XX. saw another strong script, that's towards out that in the driven I that XX%, that Pro, -- growth fact, yet, by on excuse from again, quarter, last and margin my largely XX% range. saw XX% quarter. XX% no in uptake and up within rate of Plus me, as we in the, uptake as well, there pointed And closer strong but was,

users an So the tier nice to increasing increasing. the premium we now the of And all me, trend. and a -- XX%, see excuse subscribe Office XX%

really help in to $X, the Pro So over the And next continue driving that see saw we ARPU. but over the the hopefully, Residential, the We on that's say residential that growth quarter-over-quarter. as quarters, that see trend the that trend few also trend. growth we hopefully, on Plus we will Business.

the there before seeing we trend even see are we seeing we we trend residential think the T-Mobile premium the on are overall users, the ramp on subscribers is more seeing I that side. are where

So helping guess, will well. over And I I to consumer. as pass Eric it for trend the that's

Eric Stang

Sure. Thanks, Shig.

second opportunities and So your growth. part your with business health of question, residential small

are churn health. they seeing you going signs we we're rates at down see us. business QX where Small QX, weakness look We if and well business in versus any them. our -- really not small in to yet And terms were of or marginally is for expect

or economy not perspective negative from on macro growth. seeing an we're our So any signs

small which a money. offer business that, much one them there's we is so Now and potentially for save more often customer reason can

We economic our -- I touch. and in money and is real save the marketing can our also lot our a the even a And few drive to difficult better in of XXX,XXX. X,XXX very in really, residential different customers of on in customers' market the own us business times, more in last -- of about QX quarters the So on our number for -- over users. forward. have growth we our terms we positive a On probably think users terms we fact of small to residential, close depends amount that amount amount, declined than did we ability we growth depends the

we too. users trend side and So opportunity quarter And than but enterprise, certainly doubt. million grow million million certainly Shig There's North for more towards continues to our growth, mentioned, for no residential it residential We X premium in residential have of marketing We apportion faster? revenue to And landlines and could. residential XX good was overall less as Can sales There's a we probably XX home business grow means users. spends to choose America. grow small towards Business the there's them. nicely. and on

if for the scope And lines that around. level at could open So go residential away see well, up more the shop opportunities opportunity. you can as of to copper customers

hope So answers that's kind your macro today. the how that I of we see question. environment

Matthew Harrigan

specifically congestions But Well, that you're you chain. question it's you is geopolitically I'm ordinary anything right in everyone of supply Thanks. there dislocations that or giving actually, earlier AirDial worrying kind and mind just about anything of seeing the or out like on sure gas now? the thanks. And or Neon Ukraine don't China that. pause not the chain is if is supply

Eric Stang

some It's challenge quite we’ve but is in one go components there's two there's our of board And simple. get. that always -- AirDial a the unit. are No, hard been or on we’ve price And of In them. the had number to on get to for costs to spend inside that in particularly that bit ways finding but can those we’ve found to a we of job way the good products. areas, in some more, also a pass -- little doing

speak. so build been that. work today and haven't outside we contract but we products China. both to inside We about do We manufacturers, too with manufacturing, have So China can worried

AirDial look we as not on in building not So at dependent China, forward. least we are

a yes, and with So and that's building up just matter new working a chain a new supply coming product it's of vendors, for along.

Matthew Harrigan

Thanks, Eric. Shig. Thanks,

Eric Stang

Matthew. Sure,

Operator

I further currently closing any this no questions CEO, remarks. call turn Ooma's are at back time. to will There for Stang Instructions] [Operator Eric the

Eric Stang

Awesome. quarter, It's start conferences And for good you I at. forward or a the some perhaps look off for we good have two's a to be us. quarter of at will in clean this a to to week which seeing nice and be year. and Thanks joining everybody time, a week

I your you. Bye-bye. today. So time Thank appreciate

Operator

you for This conference concludes today's joining. call. Thank

may now disconnect. You

Ooma (OOMA) 25 May 222023 Q1 Earnings call transcript