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Smart Connected Services Investor Presentation A u g u s t 2 6 , 2 0 2 6
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Safe Harbor Statement 2 This presentation contains forward-looking statements. In particular, statements regarding future economic performance, finances, and expectations and objectives of management constitute forward-looking statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historical facts and generally contain words such as “believes”, “expects”, “may”, “will”, “should”, “seeks”, “approximately”, “intends”, “plans”, “estimates”, ”anticipates”, and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters. Although the forward-looking statements contained in this presentation are based upon information available at the time the statements are made and reflect management's good faith beliefs, forward-looking statements inherently involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to differ materially from anticipated future results. Important factors that could cause actual results to differ materially from expectations include, among others: our inability to attract new customers on a cost-effective basis; our inability to retain customers; our inability to market and sell new products and services; interruptions in our software or services; our inability to achieve the anticipated effect on our business as a result of our acquisitions; intense competition; our reliance on retailers and reseller partnerships to sell our products; inability to achieve desired benefits in the use of artificial intelligence in our business and potential increased liability; our reliance on vendors to manufacture the on-premise appliances and end-point devices we sell; our reliance on third parties for our network connectivity and co-location facilities; our reliance on third parties for some of our software development, quality assurance and operations; and our reliance on third parties to provide the majority of our customer service and support representatives. You should not place undue reliance on these forward-looking statements, which speak only as of the date hereof. We do not undertake to update or revise any forward-looking statements after they are made, whether as a result of new information, future events, or otherwise, except as required by applicable law. The forward-looking statements contained in this presentation are also subject to other risks and uncertainties, including those more fully described in our filings which we make with the Securities and Exchange Commission, from time to time, including the risk factors contained in our Quarterly Report on form 10-Q for the quarter ended April 30, 2026, filed with the SEC on June 5, 2026. The forward-looking statements in this presentation are based on information available to Ooma as of the date hereof, and Ooma disclaims any obligation to update any forward- looking statements, except as required by law.
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Ooma Provides Leading Communications Services We transform sophisticated technology into elegant, simple communications solutions accessible to everyone. 3
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Ooma Today 4 Multi-tenant SaaS platform Telephony, Messaging, Video, and more > 1.4 million core users 1,444 employees and contractors HQ: Sunnyvale, CA Founded 2003; IPO 2015 NYSE: OOMA Revenue* Recurring Gross Profit Margin* Annual Exit Recurring Revenue* Adjusted EBITDA* $307 million +17% 72%$299 million 99% retention** $44 million +68% * Revenue, Adjusted EBITDA and Recurring Non-GAAP Gross Profit Margin amounts are for the last four fiscal quarters. Adjustments to EBITDA and other non-GAAP values are described in the Reconciliation of Non-GAAP Financial Measures tables of Ooma earnings releases. Annual Exit Recurring Revenue (AERR); it includes Ooma Business, Residential and 2 600Hz. Annual Exit Recurring Revenue is annualized from the most recent quarter . ** Net dollar subscription retention rate (NDR) is the average of the quarterly NDR reported for the trailing four fiscal quarters as of July 31, 2026. Note: Our fiscal year ends January 31. Core users exclude 2600Hz and Talkatone users.
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HOME HOME OFFICE SMALL / MEDIUM BUSINESS LARGE BUSINESS ENTERPRISE Superior Value Innovative Features Created for SMB Simple to Install / Use Extensive Features Flexible, Customizable “Free home phone service (just pay taxes and fees) “Sound like a big business at a small business price “Business communications built exclusively for you Our Solutions Serve Customers Better
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Our Features Transform Communications 6 COMMUNICATE IN MORE PLACES COMMUNICATE IN MORE WAYS COMMUNICATE MORE EFFECTIVELY IP Phone Desktop App Mobile Phone Call Message & Chat Video Virtual Fax • PBX Features • Contact Center • Customer Engagement1 • AI Recording/Transcription • Vertical Market Solutions2 • CRM/Other Integrations • Analytics 1 – e.g., Caller Info-Search, Online Bookings 2 – e.g., HIPAA, Extended Message Logs
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Our Cost Structure Enables Superior Value RECURRING ARPU1 WHY CUSTOMERS BUY >$16 72% Margin per user 28% Cost per user Ooma Telo Ooma Office Ooma Enterprise • Value/unlimited nationwide calling • Easy to install / configure “I choose Ooma for its quality, ease of use and value • Free calling / no more phone bills • Uses existing home phones “Ooma is a brand I recognize and trust • Customizable to individual needs • High reliability “Ooma satisfies our unique requirements (Monthly) 7 1 Average revenue per user for core users. Margin and cost per user based on Ooma’s overall subscription and services. Margin d ata is the average for 12-months ended July 31, 2026.
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ENHANCED RELIABILITY Ensures Real-Time Fail Over • Fully redundant architecture • Remote diagnostics DEPENDABLE VOICE QUALITY Overcomes Internet Congestion • Advanced codec • Adaptive redundancy • Router / QoS TAILORED SOLUTIONS Enables Customization • Modern flexible design • Easy integrations EASE OF USE Provides End-to-End Solution • Smart endpoints • Simple deployments Our Platform Drives Customer Satisfaction 8
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Customers Rate Ooma #1 9 #1 Ranked by Readers 13 Years in a Row1 Top Ranked by Readers 9 Times for Telecom Services Consumer Reports ranking through 2021, including a tie with a regional provider 1. Including the 2026 Spiceworks ranking. Spiceworks and PCMAG are both Ziff Davis publications, Spiceworks took over the su rvey in 2026.
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-4% CAGR1 21% CAGR1 Massive Market Transformation Underway 1 Estimates based on: FCC Voice Telephone Services as of December 31, 2024, published February 2026; CRTC Data - Telecommunications sector, updated October 2024 for periods prior to and including 2023 (with 2024 growth rates estimated based on internally extrapolated data applying 2020 -2023 compound annual growth rates); Ooma internal estimates; and IDC data. IDC data for the Unified Communications-as-a-service (UCaaS) and related Unified Communications and Customer Engagement market is as of July 2025. Compound annual growth rates are for 2021 – 2024, except for IDC data, which are for the values displayed (2024 -2029). 36% All other VoIP North American Business Market 57M Business Lines1 0 5 10 15 20 25 30 35 2029 Worldwide UCaaS and UC-CE Forecast1 $27.0B $34.4B 5% CAGR 10 Growth Opportunity 22% Traditional 45% Over the Top VoIP 33% Cable/Other VoIP 2024
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Our Reach Extends to Two Large New Markets POTS (COPPER LINE) REPLACEMENT 11 WHOLESALE SOLUTIONS Solves critical infrastructure problem >10 million line U.S. market opportunity1 1. IDC, April 2022, Impending Copper Sunset Could Leave Critical Infrastructure in the Dark. 2. Internal estimate based on industry reports and other sources, including data contained in press releases issued by Netsapiens (April 16, 2024) and Cisco Systems, Inc.(May 5, 2023). Wholesale platform for carriers/others Worldwide market, 50+ million users2
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AirDial: Solving POTS (Copper) Line Replacement 12 • Reduce costs • Sustain existing equipment • Specialized Features: • Remote Management • Automated Alerts • Multipath Technology for Seamless Failover Common Applications Gate Phones Security Panels PBX Trunks Fire Alarm Panels Security Panels Elevators Blue Light Phones Door Entry Intercoms Boiler Room Alarms High Volume Fax
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2600Hz: The Modern Platform For The Future Everything from server orchestration to voice, video, and chat is API-driven 100% API-Driven End user, admin, and back-office services in an architecture with true georedundancy and scalability Multi-Tenant Architecture Low-cost cloud model plus the alternative for the user to host Low-Cost Operating Model UCaaS CPaaS CCaaS Mobile Video- Conference Custom Development 2600Hz
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Advertising Customer Satisfaction and Referrals Direct Sales Resellers and Partners Geographic Expansion2 Retailers Integrated Growth Strategy 1PC Mag 2022, for Ooma’s Small Business Solution 2Ooma Now Serves Customers in 32 Countries 14 73%1 Net Promoter Score
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Significant Growth Drivers Small businesses with underserved needs Large businesses with custom requirements Businesses stranded by copper line sunset Telecom resellers modernizing their platform Geographic expansion Our platform uniquely enables solutions to untapped opportunities 15
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Recent Acquisitions Fluent FY 2025 Combined 3QF26 Cost effective extension of leadership serving SMB customers ~80k users ~85k users Acquisitions bring total core subscription users to >1.4mm Cash consideration (closing date) $45.0mm (12/1/25) $23.2mm (12/26/25) $68.2mm paid for enterprise values EBITDA*/Multiple $9.5-10.5mm/~4.5x (EBITDA >40% of rev.) $1.0-1.5mm/~18x $10.5-12.0mm/~6.0x Revenue*/Multiple $24-25mm/~1.8x $22-23mm/~1.0x $46-48mm/~1.4x Synergies Already highly profitable with channel opportunities for AirDial Attractive web domain with opportunities for operating improvement post-acquisition Accretive expansion of Ooma’s EBITDA and business customer base Funding All cash with bank term loan of $65mm at an interest rate of ~6.4% 16 Image *FluentStream and Phone.com revenue and EBITDA are annual run rates at time of closing.
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Financial Overview 17
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Consistent Revenue Performance Core Subscription & Services Revenue includes Ooma Business, which is the combined revenue of Office, Enterprise, AirDial, OnSIP, FluentStream, Phone.com and Ooma’s Residential Subscription and Services Revenue. All other revenue includes Product & Other revenue, 2600Hz and Talkatone. FluentStream and Phone.com are included in the figures above starting in 4QF26 based on their December 2025 acquisition dates. Overall Su bscription and Services revenue includes Ooma Business, Residential, 2600Hz and Talkatone. $256.9 $213.9 $224.0 $236.7All Other Revenue Core Subscription and Services Revenue ANNUAL REVENUE (in millions) 2QF27 $57.6 $72.0 $66.4 $83.2 All Other Revenue Core Subscription and Services Revenue QUARTERLY REVENUE (in millions) 18 Business Subscription and Services revenue, including 2600Hz, was 70% of overall subscription and services revenue in 2QF27. 2QF26FY 2024 FY 2025 FY 2026 $237.9 $273.6
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Ooma Business Drives Growth 731 720 1,234 1,404 Business Residential CORE USERS $87.0 $85.8 $237.9 Business Residential CORE SUBSCRIPTION AND SERVICES REVENUE (in thousands)(in millions) $21.4 $72.0 $137.0 $152.1 $50.6 724 1,427 503 684 703 Core Business Subscription and Services Revenue Growth (YoY) was 40% including the acquisitions and 9% organic, in 2QF27. 19 Core Subscription & Services Revenue includes revenue provided by core users of Ooma Business, which is the combined revenue of Office, Enterprise, AirDial, OnSIP, FluentStream, Phone.com, and Ooma Residential. 2600Hz and Talkatone are excluded from core Subscription and Services Revenue. FluentStream and Phone.com are included in the figures above starting in 4QF26 based on their December 2025 acquisition dates. FY 2025 FY 2026 2QF27FY 2025 2QF27FY 2026 $224.0
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Key Metrics FY 2024 2QF27 $227 $234 $14.72 $15.26 $15.99 ARPU Average Revenue Per User (ARPU) is blended monthly average subscription and services revenue per core user/seat. ARPU does n ot include Talkatone or 2600Hz. Annual Exit Recurring Revenue (AERR) includes Ooma Business, residential and, beginning 3QF24, 2600Hz. Talkatone revenue is not considered recurring and not included in AERR. ARPU and AERR shown represent data for the fourth quarter of e ach fiscal year presented. ($ millions)($ per month) $16.95 $291 Monthly Business ARPU ~$24, Monthly Residential ARPU ~$10 AERR 20 FY 2024 FY 2025 FY 2026 2QF27 $299 FY 2025 FY 2026
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Robust Gross Margin Total Subscriptions/Services 65% 70% 75% LONG TERM TARGET GROSS MARGIN RANGES FY 2025 FY 2026 2QF27 62% 63% 63% 78% 72% 72% 72% Subscription/Services Total High Low 21 HISTORICAL GROSS MARGIN RANGES
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22 Growing Adjusted EBITDA & Free Cash Flow 1. Adjustments to EBITDA are described in the Reconciliation of Non -GAAP Financial Measures tables of Ooma earnings releases. Value s are trailing twelve-month amounts for each quarter presented. 2. Free cash flow is defined as cash flow from operations minus capital expenditures. $0 $2,500 $5,000 $7,500 $10,000 $12,500 $15,000 $17,500 $20,000 $22,500 $25,000 $27,500 $30,000 $32,500 $35,000 $37,500 $40,000 $42,500 $45,000 $47,500 2QF25 3QF25 4QF25 1QF26 2QF26 3QF26 4QF26 1QF27 2QF27 Adjusted EBITDA Free cash flow Trailing 12-month Adjusted EBITDA1 and Free Cash Flow2 (thousands)
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Financial Position Summary ($ millions) FY 2025 FY 2026 2QF27 Cash and Investments $17.9 $20.1 $17.5 Debt1 - 57.9 46.5 Cash from Operations $26.6 $27.7 $13.1 Capital Spending ($6.4) ($5.6) ($2.3) Adjusted EBITDA $23.3 $33.9 $12.4 23 1. During 4QF26 Ooma acquired FluentStream and Phone.com for a combined cash consideration of $68.2 million. These acquisitions were partially financed by a term loan of $65 million, some of which was paid off during 4QF26, as well as during 1QF27 and 2QF27.
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Target Model (Non-GAAP) Actual Results Targets (% revenue) FY 2025 FY 2026 2QF27 Mid-Term (1-2 Year) Long-Term Subscription & Services Gross Margin 72% 72% 72% 72%-73% 75% - 78% Overall Gross Margin 62% 63% 63% 64%-65% 65% - 70% Sales & Marketing 27% 27% 24% 25%-27% 20% - 25% Research & Development 18% 17% 17% 15%-16% 12% - 15% General & Administrative 9% 9% 8% 8%-9% 7% - 8% Adjusted EBITDA 9% 12% 15% 15-17% 20% - 25% 24
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Thank You.
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$ Thousands FY 2025 FY 2026 2QF26 2QF27 GAAP Gross Profit $156,018 $167,240 $40,230 $50,988 Add : Stock-based compensation and related taxes 1,049 940 228 229 Amortization of intangibles 2,974 3,020 708 1,052 Restructuring charges 39 62 - - Non-GAAP Gross Profit $160,080 $171,262 $41,166 $52,269 GAAP Sales and Marketing $77,325 $78,341 $19,122 $22,425 Add : Stock-based compensation and related taxes (3,969) (2,149) (464) (388) Amortization of intangibles (2,793) (3,586) (698) (1,970) Restructuring costs (57) (66) - - Non-GAAP Sales and Marketing $70,506 $72,540 $17,960 $20,067 GAAP Research and Development $54,287 $50,259 $12,495 $15,468 Add : Stock-based compensation and related taxes (5,589) (4,201) (1,003) (994) Restructuring costs (1,192) (245) - (382) Non-GAAP Research and Development $47,506 $45,813 $11,492 $14,092 GAAP General and Administrative $31,346 $34,384 $7,697 $9,105 Add : Stock-based compensation and related taxes (7,610) (7,927) (2,013) (2,152) Acquisition-related costs - (1,626) - - Litigation costs (340) (1,474) - - Restructuring costs (291) - - - Non-GAAP General and Administrative $23,105 $23,357 $5,684 $6,953 GAAP Operating Income ($6,940) $4,256 $916 $3,990 Add : Stock-based compensation and related taxes 18,217 15,217 3,708 3,763 Amortization of intangibles 5,767 6,606 1,406 3,022 Acquisition-related costs - 1,626 - - Restructuring costs 1,579 373 - 382 Litigation costs 340 1,474 - - Non-GAAP Operating Income $18,963 $29,552 $6,030 $11,157 GAAP Net Income ($6,901) $6,459 $1,255 $3,004 Add : Stock-based compensation and related taxes 18,217 15,217 3,708 3,763 Amortization of intangibles 5,767 6,606 1,406 3,022 Acquisition-related costs - 1,626 - - Restructuring costs 1,579 373 - 382 Gain on note conversion (980) - - - Litigation costs 340 1,474 83 - Acquisition related income tax (benefit) expense - (2,548) - - Non-GAAP Net Income $18,022 $29,207 $6,369 $10,171 GAAP to Non-GAAP Reconciliation 26