Ooma Inc (OOMA) 2024 Q2 法說會逐字稿

Good afternoon. My name is Emma, and I will be your conference operator today. At this time, I would like to welcome everyone to Ooma's Fiscal Second Quarter 2024 Earnings Conference Call. (Operator Instructions).

下午好。我叫艾瑪，今天我將擔任你們的會議操作員。此時，我歡迎大家參加 Ooma 2024 年第二季度財報電話會議。 （操作員說明）。

Matt Robison, you may begin your conference.

馬特·羅賓遜，你可以開始你的會議了。

Thank you, Emma. Good day, everyone, and welcome to this fiscal second quarter 2024 earnings call of Ooma, Inc. My name is Matt Robison, Ooma's Director of IR and Corporate Development. On the call with me today are Ooma's CEO, Eric Stang; and CFO, Shig Hamamatsu.

謝謝你，艾瑪。大家好，歡迎參加 Ooma, Inc. 2024 年第二財季財報電話會議。我是 Matt Robison，Ooma 的 IR 和企業發展總監。今天與我通話的是 Ooma 的首席執行官埃里克·斯坦 (Eric Stang)；和首席財務官濱松志格。

After the market closed today, Ooma issued its fiscal second quarter 2024 earnings press release. This release is also available on the company's website, ooma.com. This call is being webcast live and is accessible from a link on the Events & Presentations page of the Investor Relations section of our website. This link will be active for replay of this call for at least 1 year. A telephonic replay will also be available for a week starting this evening about 8:00 p.m. Eastern Time. Filing information for it is included in today's press release.

今天收盤後，Ooma 發布了 2024 年第二財季收益新聞稿。該版本還可在公司網站 ooma.com 上獲取。此次電話會議正在進行網絡直播，可通過我們網站投資者關係部分的活動和演示頁面上的鏈接進行訪問。此鏈接將在至少 1 年內有效，以便重播此電話會議。從今天晚上 8:00 左右開始，還將提供為期一周的電話重播。東部時間。其備案信息包含在今天的新聞稿中。

During today's presentation, our executives will make forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally relate to future events or future financial or operating performance. Our expectations and beliefs regarding these matters may not materialize, and actual results are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include those set forth in the press release we issued earlier today and those risks more fully described in our filings with the Securities and Exchange Commission. The forward-looking statements in this presentation are based on information available to us as of the date hereof, and we disclaim any obligation to update any forward-looking statements, except as required by law.

在今天的演示中，我們的高管將做出聯邦證券法含義內的前瞻性聲明。前瞻性陳述通常與未來事件或未來財務或經營業績有關。我們對這些事項的期望和信念可能不會實現，實際結果會受到風險和不確定性的影響，可能導致實際結果與預測存在重大差異。這些風險包括我們今天早些時候發布的新聞稿中列出的風險以及我們向美國證券交易委員會提交的文件中更全面描述的風險。本演示文稿中的前瞻性陳述基於截至本新聞稿發布之日我們可獲得的信息，除法律要求外，我們不承擔更新任何前瞻性陳述的義務。

Please note that other than revenue, or as otherwise stated, the financial measures to be disclosed on this call will be on a non-GAAP basis. The non-GAAP financial measures are not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A discussion of why we present non-GAAP financial measures and a reconciliation of the non-GAAP financial measures discussed in this call to the most directly comparable GAAP financial measures is included in our earnings press release, which is available on our website.

請注意，除了收入或另有說明外，本次電話會議中披露的財務指標將基於非公認會計準則（Non-GAAP）。非公認會計原則財務指標不應被孤立考慮，也不能替代根據公認會計原則編制的結果。關於我們為何提出非公認會計原則財務指標的討論，以及本次電話會議中討論的非公認會計原則財務指標與最直接可比的公認會計原則財務指標的調節，請參見我們的收益新聞稿，該新聞稿可在我們的網站上獲取。

On this call, we will give guidance for third quarter and full year fiscal 2024 on a non-GAAP basis. Also, in addition to our press release and 8-K filing, the Overview page and Events & Presentations page in the Investors section of our website as well as the Results page of the Financial Info section of our website includes links to information about costs and expenses not included in our non-GAAP values and key metrics of our core subscription businesses. These are titled Supplemental Financial Disclosure 1 and Supplemental Financial Disclosure 2. Additionally, our investor presentation slides include GAAP to non-GAAP reconciliation that also provides resolution of GAAP expenses that are excluded from non-GAAP metrics.

在本次電話會議上，我們將根據非公認會計準則 (Non-GAAP) 給出 2024 財年第三季度和全年的指引。此外，除了我們的新聞稿和 8-K 歸檔之外，我們網站投資者部分的概述頁面和活動與演示頁面以及我們網站財務信息部分的結果頁面還包含有關成本和信息的鏈接。費用不包含在我們的非公認會計原則價值和核心訂閱業務的關鍵指標中。這些標題為補充財務披露 1 和補充財務披露 2。此外，我們的投資者演示幻燈片包括 GAAP 與非 GAAP 調節，還提供了排除在非 GAAP 指標之外的 GAAP 費用的解決方案。

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

現在我將把電話轉給 Ooma 的首席執行官埃里克·斯坦 (Eric Stang)。

Thank you, Matt. Hi, everyone. Welcome to Ooma's Second Quarter Fiscal Year 2024 Earnings Call. Thanks for joining us.

謝謝你，馬特。大家好。歡迎參加 Ooma 2024 財年第二季度收益電話會議。感謝您加入我們。

I'm pleased to report Ooma performed well in Q2. I'm looking forward to reviewing our accomplishments and the progress we've made on the several growth initiatives we have underway this year.

我很高興地報告 Ooma 在第二季度表現良好。我期待著回顧我們的成就以及我們今年實施的幾項增長計劃所取得的進展。

Financially, Ooma achieved $58.4 million in revenue, $3.8 million in non-GAAP net income, $4.9 million of EBITDA and $3.6 million in cash flow from operations in Q2. We also managed OpEx spending well in the quarter and reduced our inventory. Regarding growth, our important business subscription services revenue grew 27% year-over-year. Overall, we ended the quarter with $215 million of annualized exit recurring revenue, up 15% versus a year ago. I believe we executed well in Q2 to drive these results, and that Ooma is in a strong position today to pursue its strategy and growth initiatives.

在財務方面，Ooma 第二季度實現了 5840 萬美元的收入、380 萬美元的非 GAAP 淨利潤、490 萬美元的 EBITDA 和 360 萬美元的運營現金流。本季度我們還很好地管理了運營支出並減少了庫存。在增長方面，我們的重要業務訂閱服務收入同比增長 27%。總體而言，本季度結束時，我們的年化退出經常性收入為 2.15 億美元，比去年同期增長 15%。我相信我們在第二季度表現良好，推動了這些結果，並且 Ooma 今天在推行其戰略和增長計劃方面處於有利地位。

During Q2, we continued to invest in Ooma Office which, of course, is our award-winning solution specifically designed for small- to medium-sized businesses, which seek a combination of advanced features, ease of use and affordability.

在第二季度，我們繼續投資 Ooma Office，當然，這是我們屢獲殊榮的解決方案，專為尋求先進功能、易用性和經濟性的中小型企業而設計。

We added to Pro Plus, our top service tier, several new features to facilitate collaboration and customer interaction, including online bookings, one-to-many messaging, team chat and new CRM integrations with Zoho and Freshdesk. We also improved our Office desktop app, introducing an updated user interface and faster performance for a more cohesive user experience that simplifies interactions. These feature enhancements continue our strategy to build out the capabilities available in our Pro Plus service tier which, along with our Pro service tier, allow us to target slightly larger customers and drive higher revenue per user.

我們在頂級服務層 Pro Plus 中添加了多項新功能，以促進協作和客戶互動，包括在線預訂、一對多消息傳遞、團隊聊天以及與 Zoho 和 Freshdesk 的新 CRM 集成。我們還改進了 Office 桌面應用程序，引入了更新的用戶界面和更快的性能，以提供更具凝聚力的用戶體驗，從而簡化了交互。這些功能增強延續了我們的戰略，即構建 Pro Plus 服務層中可用的功能，與我們的 Pro 服務層一起，使我們能夠瞄準規模稍大的客戶並提高每用戶收入。

We feel our Ooma Office strategy is working by allowing us to serve increasingly larger customers while maintaining our long-standing focus on making communications approachable for businesses of any size. As in past quarters, more than half of our new Office users in Q2 selected one of these 2 premium tiers as we continue our journey to democratize advanced technology and make it accessible to small- and medium-sized businesses.

我們認為，我們的 Ooma Office 戰略正在發揮作用，讓我們能夠為越來越大的客戶提供服務，同時保持我們長期以來致力於讓任何規模的企業都能輕鬆進行溝通。與過去幾個季度一樣，我們在第二季度超過一半的新 Office 用戶選擇了這 2 個高級級別之一，因為我們繼續推進先進技術民主化並讓中小型企業能夠使用這些技術。

Our Ooma Office is targeted at businesses 1 to 20 users in size. I'm pleased to report our largest Office customer win in Q2 was a 286-user account, which valued the flexibility and affordability of our solution. We're also seeing interest in Office from potential partners who see Office as a good fit with their products and services. Last quarter, you may recall, we announced a partnership with NexHealth, which focuses on the dental space, and we have additional Office partnerships in progress. For the rest of this year, our plans for Ooma Office are to continue to build out the Pro Plus tier feature set and to enable more partners to integrate with and, in some cases, resell Ooma Office.

我們的 Ooma Office 面向 1 至 20 名用戶規模的企業。我很高興地向大家報告，我們在第二季度贏得的最大 Office 客戶是一個擁有 286 個用戶的帳戶，該帳戶看重我們解決方案的靈活性和經濟性。我們還看到潛在合作夥伴對 Office 感興趣，他們認為 Office 非常適合他們的產品和服務。您可能還記得，上個季度，我們宣布與專注於牙科領域的 NexHealth 建立合作夥伴關係，並且我們正在與其他 Office 建立合作夥伴關係。在今年剩下的時間裡，我們對 Ooma Office 的計劃是繼續構建 Pro Plus 層功能集，並使更多合作夥伴能夠集成 Ooma Office，並在某些情況下轉售 Ooma Office。

We also continue to invest in Ooma Enterprise, our solution targeted at larger-sized businesses in select verticals or in need of customization. One focus for us is hospitality customers where we continued in Q2 to secure wins with major brand hotels. We also began working recently with a new partner to enable our core telephony and SMS capabilities in their platform in support of an artificial intelligence use case. Ooma Enterprise will be incorporated into the partner solution via a CPaaS-like business model. Our partner already has several alpha customers deployed and is targeting launch this year.

我們還繼續投資 Ooma Enterprise，這是我們針對特定垂直行業或需要定制的大型企業的解決方案。我們的重點之一是酒店客戶，我們在第二季度繼續贏得主要品牌酒店的青睞。我們最近還開始與新合作夥伴合作，在他們的平台上啟用我們的核心電話和短信功能，以支持人工智能用例。 Ooma Enterprise 將通過類似 CPaaS 的業務模式納入合作夥伴解決方案。我們的合作夥伴已經部署了多個 alpha 客戶，併計劃在今年推出。

While we don't specifically promote Ooma Enterprise as a CPaaS solution, I believe this one-off use case demonstrates the ultimate power of our platform to adapt to bespoke needs. For the rest of this year, our plans for Ooma Enterprise are to continue our industry-focused strategy while also growing our network of telecom agents and resellers.

雖然我們沒有專門將 Ooma Enterprise 作為 CPaaS 解決方案進行推廣，但我相信這一一次性用例展示了我們平台適應定制需求的最終能力。今年剩下的時間裡，我們對 Ooma Enterprise 的計劃是繼續我們以行業為中心的戰略，同時擴大我們的電信代理商和經銷商網絡。

We're also making investments to expand internationally. As planned, we made a major step forward in Q2 with our largest customer by putting in place the capability to serve them in a new region of the world. Over the coming weeks, we will begin rollout in earnest in this new region. I'm also pleased to report that during Q2, we were able to add more users than we anticipated, and we gained visibility for increasing to 100,000 users or more with this customer. For the balance of this year, we will focus on implementing our service for this customer in the new region, plus at least one additional region, as well as on continuing to onboard their users.

我們還進行投資以進行國際擴張。按照計劃，我們在第二季度與我們最大的客戶向前邁出了一大步，在世界新地區建立了為他們提供服務的能力。在接下來的幾週內，我們將開始在這個新地區認真推出。我還很高興地報告，在第二季度，我們添加的用戶數量超出了我們的預期，並且我們通過該客戶獲得了將用戶數量增加到 100,000 名或更多的可見性。在今年剩下的時間裡，我們將專注於在新地區以及至少一個其他地區為該客戶實施我們的服務，並繼續吸引他們的用戶。

Our largest area of investment at this time is Ooma AirDial, our integrated solution to replace aging and expensive copper lines that serve critical infrastructure and other specialized applications. As you know, we see a massive market opportunity for AirDial, both in the U.S.A. and in other countries. Our feature enhancements to AirDial continued in Q2 as we brought out version 2.0 of our Remote Device Manager, implemented network side autodial features to support older emergency phones and implemented modem support to make remote programming of door access systems more reliable.

我們目前最大的投資領域是 Ooma AirDial，這是我們的集成解決方案，用於取代為關鍵基礎設施和其他專業應用提供服務的老化且昂貴的銅線。如您所知，我們看到 AirDial 在美國和其他國家都有巨大的市場機會。我們在第二季度繼續對AirDial 進行功能增強，推出了遠程設備管理器2.0 版，實施了網絡端自動撥號功能以支持較舊的緊急電話，並實施了調製解調器支持以使門禁系統的遠程編程更加可靠。

There is a long tail of specialized and older equipment relying on copper lines today. And we feel our ability to control the total end-to-end solution is an advantage as we evolve AirDial to meet all the needs of the market. Owning all aspects of our platform end-to-end has allowed us to adapt the AirDial platform to serve the needs of customers with challenging use cases, including in circumstances where those customers have had another provider fail previously.

如今，有一長串依賴銅線的專業和老式設備。我們認為，隨著我們不斷發展 AirDial 以滿足市場的所有需求，我們控制整個端到端解決方案的能力是一個優勢。端到端地擁有我們平台的所有方面，使我們能夠調整 AirDial 平台，以滿足具有挑戰性用例的客戶的需求，包括這些客戶之前曾遇到其他提供商失敗的情況。

Commercially, we announced earlier this month that UScellular completed its launch planning and began offering Air dial through its sales organization. In fact, I'm pleased to report that UScellular's first customer win, with a customer requiring 136 lines, occurred in Q2 even before the formal launch date. In this case, AirDial displaced a competitor whose products were not working well, and we helped UScellular deliver a solution in a situation where the customer needed to maintain compliance in a very short time frame.

在商業方面，我們本月早些時候宣布 UScellular 完成了其推出計劃，並開始通過其銷售組織提供空中撥號服務。事實上，我很高興地報告，UScellular 的第一個客戶贏得了，客戶需要 136 條線路，發生在第二季度，甚至在正式推出日期之前。在這種情況下，AirDial 取代了產品運行不佳的競爭對手，我們幫助 UScellular 在客戶需要在很短的時間內保持合規性的情況下提供了解決方案。

As in past quarters, our sales funnel for AirDial continued to build in Q2, and we had some notable wins in the quarter. Our largest Q2 win was a restaurant group, which we'll deploy over 750 lines. Just days after the end of Q2, we also won a large retailer opportunity, representing approximately 800 lines. Both of these opportunities came through partners of ours who are reselling AirDial.

與過去幾個季度一樣，我們的 AirDial 銷售漏斗在第二季度繼續發展，並且在本季度取得了一些顯著的成果。我們第二季度最大的勝利是一家餐廳集團，我們將為其部署超過 750 條生產線。就在第二季度結束後幾天，我們還贏得了一個大型零售商的機會，代表大約 800 個產品線。這兩個機會都是通過我們轉售 AirDial 的合作夥伴獲得的。

Just this week, we made a further exciting announcement regarding AirDial. I'm pleased to report that the largest REIT in the world, Prologis, will offer both Ooma AirDial and Ooma Office through their Essentials platform. This platform provides building and other services to Prologis' large base of customers. We're thrilled they have chosen Ooma as their featured and only solution for parts replacement and business communications.

就在本週，我們發布了有關 AirDial 的進一步令人興奮的公告。我很高興地向您報告，全球最大的房地產投資信託基金 Prologis 將通過其 Essentials 平台提供 Ooma AirDial 和 Ooma Office。該平台為 Prologis 的龐大客戶群提供構建和其他服務。我們很高興他們選擇 Ooma 作為其特色且唯一的零件更換和業務通信解決方案。

Bringing on partners is one of our key strategies to drive AirDial growth. Most typically, our partners resell AirDial but, in some cases, they refer customers to us. This last quarter, in addition to UScellular and Prologis, we also established new partnerships with 2 CLECs, 2 aggregators and 2 other resellers. Our plans for the rest of this year for AirDial are to grow our sales and go-to-market resources significantly, establish more resale partnerships and further enhance the differentiation of our solution.

吸引合作夥伴是我們推動 AirDial 發展的關鍵戰略之一。最常見的是，我們的合作夥伴轉售 AirDial，但在某些情況下，他們會將客戶推薦給我們。上個季度，除了 UScellular 和 Prologis 之外，我們還與 2 個 CLEC、2 個聚合商和 2 個其他經銷商建立了新的合作夥伴關係。今年剩下的時間裡，我們對 AirDial 的計劃是大幅增加我們的銷售額和進入市場的資源，建立更多的轉售合作夥伴關係，並進一步增強我們解決方案的差異化。

As I've outlined, we have a lot of initiatives underway, and it's an exciting time for us.

正如我所概述的，我們正在進行許多舉措，這對我們來說是一個激動人心的時刻。

I will now turn the call over to Shig, our CFO, to discuss our results and outlook in more detail and then return with some closing remarks.

我現在將把電話轉給我們的首席財務官 Shig，更詳細地討論我們的業績和前景，然後返回一些結束語。

Thank you, Eric, and good afternoon, everyone. I'm going to review our second quarter financial results and then provide our outlook for the third quarter and full year fiscal 2024.

謝謝你，埃里克，大家下午好。我將回顧我們第二季度的財務業績，然後提供我們對第三季度和 2024 財年全年的展望。

We delivered another strong quarter with a total revenue of $58.4 million, exceeding our guidance range of $57.4 million to $57.9 million. On a year-over-year basis, order revenue grew 11% in the second quarter driven by the strength of Ooma Business as well as the addition of OnSIP.

我們再次實現了強勁的季度業績，總收入達到 5,840 萬美元，超出了 5,740 萬美元至 5,790 萬美元的指導範圍。在 Ooma Business 的實力以及 OnSIP 的加入的推動下，第二季度訂單收入同比增長 11%。

In the second quarter, business subscription and services revenue accounted for 57% of total subscription and services revenue as compared to 51% in the prior year quarter.

第二季度，企業訂閱和服務收入佔訂閱和服務總收入的 57%，而去年同期為 51%。

Q2 product and other revenue came in at $3.6 million as compared to $4.7 million in the prior year quarter. The prior year Q2 product revenue included certain accessory sales that did not recur this year.

第二季度產品和其他收入為 360 萬美元，而去年同期為 470 萬美元。去年第二季度的產品收入包括今年沒有出現的某些配件銷售。

On the profitability front, the second quarter non-GAAP net income was $3.8 million, at the high end of our guidance range of $3.5 million to $3.8 million, and represented 26% increase over $3 million in the prior year quarter.

在盈利能力方面，第二季度非 GAAP 淨利潤為 380 萬美元，處於我們指導範圍 350 萬美元至 380 萬美元的高端，比去年同期的 300 萬美元增長了 26%。

Now some details on our Q2 revenue. Ooma Business subscription and services revenue grew 27% year-over-year in Q2 driven by user growth and the addition of OnSIP. Excluding the effect of OnSIP revenue contribution, Ooma Business subscription and services revenue grew 15% year-over-year.

現在是我們第二季度收入的一些詳細信息。受用戶增長和 OnSIP 增加的推動，Ooma Business 訂閱和服務收入第二季度同比增長 27%。排除 OnSIP 收入貢獻的影響，Ooma Business 訂閱和服務收入同比增長 15%。

On the Residential side, subscription and services revenue were flat year-over-year. As a reminder, we had a onetime churn event during the first quarter with a particular customer with an unusual application where we lost approximately 4,000 fellow users, and we saw a full quarter impact of it in Q2. We expect Residential subscription revenue growth to resume at the low single-digit percentage on a year-over-year basis in the second half of this fiscal year.

在住宅方面，訂閱和服務收入同比持平。提醒一下，我們在第一季度遇到了一次客戶流失事件，該客戶使用了一個不尋常的應用程序，我們失去了大約 4,000 名其他用戶，我們在第二季度看到了它對整個季度的影響。我們預計本財年下半年住宅訂閱收入同比增長將恢復到較低的個位數百分比。

For the second quarter, total subscription and services revenue was $54.7 million or 94% of total revenue as compared to $48 million or 91% of total revenue in the prior year quarter.

第二季度訂閱和服務總收入為 5,470 萬美元，佔總收入的 94%，而去年同期為 4,800 萬美元，佔總收入的 91%。

Now some details on our key customer metrics. We ended the second quarter with 1,237,000 core users, up from 1,225,000 core users at the end of the first quarter. At the end of the second quarter, we had 467,000 business users or 38% of total core users, an increase of 18,000 from Q1. While blended average monthly subscription and services revenue per core user, or ARPU, increased 5% year-over-year to $14.51 driven by an increase in mix of business users, including higher ARPU Office Pro and Pro Plus users.

現在介紹一些有關我們關鍵客戶指標的詳細信息。第二季度末，我們的核心用戶數量為 1,237,000 名，高於第一季度末的 1,225,000 名核心用戶。截至二季度末，我們擁有46.7萬企業用戶，佔核心用戶總數的38%，較一季度增加1.8萬。雖然每個核心用戶的平均每月訂閱和服務收入(ARPU) 同比增長5%，達到14.51 美元，但由於企業用戶組合的增加，包括較高ARPU 的Office Pro 和Pro Plus 用戶，該收入增長了5 %。

During the second quarter, we continued to see a healthy Office Pro and Pro Plus take rate, with 55% of new Office users opting for these higher-tier services, which was up from 47% in the prior year quarter. Overall, 27% of Ooma Office users have now subscribed to our Pro or Pro Plus tier.

第二季度，我們繼續看到 Office Pro 和 Pro Plus 的良好使用率，55% 的新 Office 用戶選擇這些更高級別的服務，高於去年同期的 47%。總體而言，27% 的 Ooma Office 用戶現已訂閱我們的 Pro 或 Pro Plus 級別。

Our annual exit recurring revenue grew to $215.4 million and was up 15% year-over-year. Our net dollar subscription retention rate for the quarter was 99% as compared to 99% in the first quarter.

我們的年度退出經常性收入增至 2.154 億美元，同比增長 15%。本季度我們的淨美元訂閱保留率為 99%，而第一季度為 99%。

Now some details on our gross margin. Our subscription and services gross margin for the second quarter was 72% as compared to 74% in the prior year. As a reminder, subscription and services gross margin for the second quarter this fiscal year included the impact of OnSIP gross margin, which is running lower relative to Ooma's subscription gross margin of 73% when OnSIP is excluded. Q2 subscription and services gross margin this year was also impacted by certain upfront investments we made for our largest customer as we prepare for further expansion into new regions in the second half of this fiscal year.

現在我們的毛利率的一些細節。我們第二季度的訂閱和服務毛利率為 72%，而去年同期為 74%。需要提醒的是，本財年第二季度的訂閱和服務毛利率包括 OnSIP 毛利率的影響，在不包括 OnSIP 的情況下，該毛利率相對於 Ooma 73% 的訂閱毛利率較低。今年第二季度的訂閱和服務毛利率還受到我們為最大客戶進行的某些前期投資的影響，因為我們準備在本財年下半年進一步擴展到新地區。

Product and other gross margin for the second quarter was negative 73% as compared to negative 31% for the same period last year. As mentioned on our last call, the decline in Q2 product gross margin this year versus last year was anticipated and was primarily due to the following 3 factors. First, we saw the sell-through impact of certain higher cost components that we had procured in the last fiscal year to stay ahead of pandemic-driven supply chain issues. Second, the prior year Q2 product gross margin benefited from certain accessory sales that did not recur this year. And third, we incurred nonrecurring facility costs as we completed our move to a new warehouse facility during the quarter.

第二季度產品及其他毛利率為負 73%，而去年同期為負 31%。正如我們在上次電話會議中提到的，今年第二季度產品毛利率較去年下降是預料之中的，主要是由於以下三個因素。首先，我們看到了上一財年為應對流行病驅動的供應鏈問題而採購的某些成本較高的組件對銷售的影響。其次，去年第二季度的產品毛利率受益於今年沒有出現的某些配件銷售。第三，當我們在本季度完成搬遷到新倉庫設施時，我們產生了一次性設施成本。

We continue to expect product and other gross margin for the remainder of fiscal 2024 to be negatively impacted by onetime excess component costs running through the P&L and currently estimate product and other gross margin for the second half of this fiscal year to be in the neighborhood of negative 65%.

我們仍然預計 2024 財年剩餘時間的產品和其他毛利率將受到損益表中一次性超額零部件成本的負面影響，目前估計本財年下半年的產品和其他毛利率將在負65%。

On an overall basis, total gross margin for Q2 was 63% as compared to 65% in the prior year quarter.

總體而言，第二季度的總毛利率為 63%，而去年同期為 65%。

And now some details on operating expenses. Total operating expenses for the second quarter were $33.2 million, up $2.1 million or 7% from the same period last year. Excluding the impact of OnSIP, the total operating expenses increased $1.1 million or 4% from the same period last year.

現在是有關運營費用的一些細節。第二季度總運營費用為 3320 萬美元，比去年同期增加 210 萬美元，即 7%。排除OnSIP的影響，總運營費用比去年同期增加110萬美元，即4%。

Sales and marketing expenses for the second quarter was $17.7 million or 30% of total revenue, up 7% year-over-year, driven by higher marketing and channel development activity for Ooma Business, which includes AirDial as well as the addition of OnSIP-related expenses.

第二季度的銷售和營銷費用為 1,770 萬美元，佔總收入的 30%，同比增長 7%，這得益於 Ooma Business 的營銷和渠道開發活動增加，其中包括 AirDial 以及 OnSIP 的添加 -相關費用。

Research and development expenses were $10.6 million or 18% of total revenue, up 7% on a year-over-year basis from $9.9 million, driven by investments in new features for both Ooma Office and Ooma Enterprise as well as new products such as AirDial. A portion of the year-over-year increase in R&D expense was also for the activities related to international expansion with our largest customer and the addition of OnSIP team members.

研發費用為 1,060 萬美元，佔總收入的 18%，較上年同期的 990 萬美元增長 7%，這主要得益於 Ooma Office 和 Ooma Enterprise 新功能以及 AirDial 等新產品的投資。研發費用同比增長的一部分還用於與我們最大客戶的國際擴張以及 OnSIP 團隊成員的增加相關的活動。

G&A expenses were $4.9 million or 8% of total revenue for the second quarter compared to $4.5 million for the prior year quarter. The year-over-year increase in G&A expenses was primarily due to an increase in personnel costs and the addition of OnSIP.

第二季度一般管理費用為 490 萬美元，佔總收入的 8%，而去年同期為 450 萬美元。 G&A 費用的同比增長主要是由於人員成本的增加和 OnSIP 的增加。

Non-GAAP net income for the second quarter was $3.8 million or diluted earnings per share of $0.14 as compared to $0.12 in the prior quarter.

第二季度非 GAAP 淨利潤為 380 萬美元，稀釋後每股收益為 0.14 美元，而上一季度為 0.12 美元。

Adjusted EBITDA for the quarter was $4.9 million or 8% of total revenue and represented 22% increase over $4 million for the prior year quarter.

本季度調整後 EBITDA 為 490 萬美元，佔總收入的 8%，比去年同期的 400 萬美元增長 22%。

We ended the quarter with total cash and investments of $29.5 million, which increased from $28.4 million at the end of Q1. We generated cash from operations of $3.6 million, which was up from $2.2 million in the same period last year.

本季度結束時，我們的現金和投資總額為 2,950 萬美元，高於第一季度末的 2,840 萬美元。我們從運營中產生的現金為 360 萬美元，高於去年同期的 220 萬美元。

On the head count front, we ended the quarter with 1,108 employees and contractors.

在員工人數方面，本季度末我們有 1,108 名員工和承包商。

Now I'll provide a guidance for the third quarter and full fiscal year 2024. Our guidance is on a non-GAAP basis and has been adjusted for expenses such as stock-based compensation, amortization of intangibles and certain nonrecurring expenses.

現在，我將提供 2024 年第三季度和整個財年的指導。我們的指導基於非 GAAP 基礎，並針對股票薪酬、無形資產攤銷和某些非經常性費用等費用進行了調整。

We expect total revenue for the third quarter of fiscal 2024 to be in the range of $59 million to $59.6 million, which includes $3.7 million to $4 million of product revenue. We expect third quarter net income to be in the range of $3.8 million to $4.1 million. Non-GAAP diluted EPS is expected to be between $0.14 to $0.16. We have assumed 26.3 million weighted average diluted shares outstanding for the third quarter.

我們預計 2024 財年第三季度的總收入將在 5900 萬美元至 5960 萬美元之間，其中包括 370 萬美元至 400 萬美元的產品收入。我們預計第三季度淨利潤將在 380 萬美元至 410 萬美元之間。非 GAAP 攤薄後每股收益預計在 0.14 美元至 0.16 美元之間。我們假設第三季度加權平均稀釋後流通股為 2630 萬股。

For full year fiscal 2024, we expect total revenue to be in the range of $235.5 million to $237 million. The adjustment to the high end of the guidance range is related to our expectation around the timing of AirDial product revenue within this fiscal year. While we are very excited about growing the pipeline of AirDial opportunities, we believe some shipments of AirDial hardware will be deferred to next fiscal year, primarily due to customer-driven time line.

對於 2024 財年全年，我們預計總收入將在 2.355 億美元至 2.37 億美元之間。對指導範圍上限的調整與我們對本財年 AirDial 產品收入時間的預期有關。雖然我們對擴大 AirDial 機會渠道感到非常興奮，但我們相信，部分 AirDial 硬件的發貨將推遲到下一財年，這主要是由於客戶驅動的時間表。

As for Business subscription and services revenue for the year, we expect a year-over-year growth rate of 18% to 20%, which is unchanged from our prior expectations.

至於今年的商業訂閱和服務收入，我們預計同比增長率為 18% 至 20%，與我們之前的預期持平。

In terms of revenue mix for the year, we expect approximately 93% of total revenue to come from subscription and services revenue and the remainder from products and other revenue.

就今年的收入結構而言，我們預計總收入的約 93% 來自訂閱和服務收入，其餘來自產品和其他收入。

In terms of profitability, we are raising the bottom end of our prior guidance range. We expect non-GAAP net income for fiscal 2024 to be in the range of $15.5 million to $16.5 million. Based on this guidance range, we estimate our adjusted EBITDA for fiscal 2024 to be $19.5 million to $20.5 million or approximately 9% of revenue at the upper end of the range. We expect non-GAAP diluted EPS for fiscal 2024 to be in the range of $0.59 to $0.63. We have assumed approximately 26.4 million weighted average diluted shares outstanding for fiscal 2024.

就盈利能力而言，我們正在提高之前指導範圍的下限。我們預計 2024 財年非 GAAP 淨利潤將在 1550 萬美元至 1650 萬美元之間。根據這一指導範圍，我們估計 2024 財年調整後的 EBITDA 為 1,950 萬美元至 2,050 萬美元，約佔該範圍上限收入的 9%。我們預計 2024 財年非 GAAP 攤薄後每股收益將在 0.59 美元至 0.63 美元之間。我們假設 2024 財年加權平均稀釋後流通股約為 2640 萬股。

In summary, we are pleased with our solid performance in the second quarter and remain focused on executing to our long-term strategy to achieve profitable growth.

總之，我們對第二季度的穩健表現感到滿意，並將繼續專注於執行我們的長期戰略以實現盈利增長。

I will now pass it back to Eric for some closing remarks. Eric?

現在我將把它傳回給埃里克，讓他做一些結束語。埃里克？

Thank you, Shig. This month marks 20 years since the original 2 founders of Ooma hired a small team and got to work. In that time since, we have developed into a successful, growing public company with over 2 million users and over 1,100 employees and contractors.

謝謝你，希格。這個月是 Ooma 最初的兩位創始人僱傭一個小團隊並開始工作 20 週年。從那時起，我們已發展成為一家成功的、不斷發展的上市公司，擁有超過 200 萬用戶以及超過 1,100 名員工和承包商。

Over the last 20 years, we believe we have saved our customers billions of dollars in the aggregate compared to what they would have paid with traditional phone service solutions while also bringing them advanced features previously unavailable to smaller businesses and consumers. Perhaps most exciting for us is that we have become a leader in the disruptive change underway in communications made possible by cloud technology.

在過去的 20 年裡，我們相信，與客戶使用傳統電話服務解決方案相比，我們總共為他們節省了數十億美元，同時還為他們提供了以前小型企業和消費者無法使用的高級功能。也許最讓我們興奮的是，我們已經成為雲技術帶來的通信領域顛覆性變革的領導者。

With the strong market position we have built over the last 20 years and the multiple growth initiatives we have underway, we're excited about our outlook.

憑藉我們在過去 20 年中建立的強大市場地位以及我們正在進行的多項增長計劃，我們對我們的前景感到興奮。

Thank you. We'll now take your questions.

謝謝。我們現在將回答您的問題。

(Operator Instructions) Your first question comes from the line of Mike Latimore with Northland Capital.

（操作員說明）您的第一個問題來自 Northland Capital 的 Mike Latimore。

Congrats on the good, solid results there. The Prologis partnership is interesting. What are the next steps there in terms of getting that fully launched?

祝賀取得了良好、紮實的成果。 Prologis 的合作夥伴關係很有趣。為了全面啟動，接下來的步驟是什麼？

It will take at least a few weeks, maybe a little longer. It depends on how fast they move. They have to put us into their Essentials platform, which is a Web-based solution for their customers to draw on. They have certain categories of capabilities they have in that platform, we'll be kind of a new area for them with communications. But I think it's not only important for being part of the Essentials platform but also I think it demonstrates in the whole REIT community what Ooma can bring. And I know many REITs out there look to Prologis because they are clearly the leader in the world, in that space. So I think it was important for us to get the press release out and just continue the awareness building that we're trying to do for that space.

至少需要幾週時間，也許更長一點。這取決於他們移動的速度。他們必須將我們納入他們的 Essentials 平台，這是一個基於 Web 的解決方案，供他們的客戶使用。他們在該平台上擁有某些類別的功能，我們將成為他們通信的新領域。但我認為它不僅對於成為 Essentials 平台的一部分很重要，而且我認為它向整個 REIT 社區展示了 Ooma 可以帶來什麼。我知道許多房地產投資信託基金都關注普洛斯，因為它們顯然是該領域的世界領導者。因此，我認為發布新聞稿並繼續我們正在努力為該領域所做的宣傳建設對我們來說很重要。

Great. And then on your largest customer, you talked about seeing a path towards 100,000 users there. Can you just mention like what is the user count presently? And also, just why did some of your AirDial customers push out their timing?

偉大的。然後，關於您最大的客戶，您談到看到那裡有一條通往 100,000 用戶的道路。您能簡單介紹一下目前的用戶數量嗎？另外，為什麼您的一些 AirDial 客戶推遲了他們的時間？

So with our largest customer, they're obviously taking a combination of Ooma Office and Ooma Enterprise from us. We're over 80,000 users with them today, and I can see us being at 100,000 or more by fiscal year-end. And we've always thought we'd get there, but I feel I have even more visibility now than we've had about our path there. It's great to have our new node up and running in a new region of the world and to have some customers on it already and be planning the major rollout that now comes with that. And having got that one up and running, I think we've worked out the kinks a fair bit in terms of putting up the next one and the next one. So I feel like we did some lifting in Q2, and we're in a great position as we go forward to Q3.

因此，對於我們最大的客戶來說，他們顯然正在從我們這裡獲取 Ooma Office 和 Ooma Enterprise 的組合。目前，我們的用戶數量已超過 80,000 名，預計到財年末我們的用戶數量將達到 100,000 名或更多。我們一直認為我們會到達那裡，但我覺得我現在比我們對到達那裡的道路有更多的了解。很高興我們的新節點在世界的新地區啟動並運行，並且已經有一些客戶使用它，並正在計劃隨之而來的主要部署。在啟動並運行該項目後，我認為我們已經解決了下一個和下一個的問題。所以我覺得我們在第二季度做了一些提升，並且在進入第三季度時我們處於有利位置。

On the AirDial front, the second part of your question, it baffles me a little bit, Mike. Because we save our customers so much money compared to what POTS is now costing them, it baffles me sometimes why they don't move faster. But the savings are clearly compelling. And I think that's what I really turn to in terms of my confidence in AirDial and where we're going. To be honest, we just need to look forward with what we know and not speculate on what we think we can also achieve. And I can tell you, we have a significant pipeline. We have deals out for signing. We have a lot of things that we think are going to come in the back half of this year. But we'll have to -- it's a little bit harder to predict than our traditional areas of the company that we've been at longer and which are more steady. So as things happen, we'll keep you guys updated. And we'll see where we're at, at the end of Q3.

關於 AirDial 方面，即你問題的第二部分，邁克，這讓我有點困惑。因為與現在 POTS 花費的成本相比，我們為客戶節省了很多錢，所以有時我很困惑為什麼他們不採取更快的行動。但節省的費用顯然是引人注目的。我認為這才是我對 AirDial 以及我們未來發展方向的信心真正所在。老實說，我們只需要根據我們所知道的來展望，而不是猜測我們認為我們也可以實現的目標。我可以告訴你，我們有一個重要的管道。我們有待簽署的交易。我們認為今年下半年將會發生很多事情。但我們必須——與我們公司的傳統領域相比，預測我們在哪些領域工作時間更長、更穩定有點困難。因此，當事情發生時，我們會及時向大家通報最新情況。我們將在第三季度末看到我們所處的位置。

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

你的下一個問題來自馬特·斯托勒和威廉·布萊爾的對話。

This is Alex on for Matt. Just first one for me, maybe could you touch on the progress that's been made with Jazzware and NexHealth, those partnerships, that were announced earlier in the year? How is the progress going with those rollouts and maybe how you see those layering into the overall business going forward?

這是亞歷克斯（Alex）替馬特（Matt）發言。對於我來說，這是第一個，也許您能談談今年早些時候宣布的 Jazzware 和 NexHealth 這些合作夥伴關係所取得的進展嗎？這些推出的進展情況如何？也許您如何看待這些內容在未來整體業務中的分層？

Sure. So on the first one, the progress with Jazzware, they're a partner of ours for the hospitality space with our Enterprise solution. And that's gone well. We continue to grow in that space. Like I was just describing for AirDial, we have some significant opportunities in front of us as well. They're more of a technology enabler for us because, with the Jazzware capability combined with ours, we can make our system do more for the customer. So I would say that's rolling well.

當然。因此，在第一個方面，即 Jazzware 的進展，他們是我們在酒店領域提供企業解決方案的合作夥伴。一切進展順利。我們在這個領域繼續成長。就像我剛剛描述的 AirDial 一樣，我們面前也有一些重要的機會。它們對我們來說更像是技術推動者，因為通過將 Jazzware 功能與我們的功能相結合，我們可以使我們的系統為客戶做更多的事情。所以我想說進展順利。

NexHealth, I think we had slower progress than anticipated in Q2, and that's turning around now for Q3. As we brought the solution into the market, we realized some additional integrations that we wanted to have with it, we and they together. And so we have customers using it and all that, but we did some further development in Q2. And I think we're really just turning up sales efforts on it more this quarter.

NexHealth，我認為我們在第二季度的進展比預期的要慢，而現在第三季度的情況正在扭轉。當我們將該解決方案推向市場時，我們意識到我們希望與它、我們和他們一起進行一些額外的集成。因此，我們有客戶使用它等等，但我們在第二季度做了一些進一步的開發。我認為本季度我們確實加大了銷售力度。

Got it. Sounds good. And then maybe just one on OnSIP. Can you give us an update on how the acquired business from OnSIP is integrating with the rest of the Ooma portfolio, alongside maybe any growth contribution you can share to the overall business?

知道了。聽起來不錯。然後可能只是 OnSIP 上的一個。您能否向我們介紹一下從 OnSIP 收購的業務如何與 Ooma 產品組合的其他部分整合的最新情況，以及您可以為整體業務分享的任何增長貢獻？

Sure. So from an integration into our business standpoint, it's been seamless and everything we planned and more. The members of the OnSIP team have folded into Ooma. Some activities have changed for some people. Some people are working on what we were doing on the Ooma side before we got together. But nonetheless, on the OnSIP platform, we continue to drive development in certain areas and certainly continue to drive sales and marketing for it.

當然。因此，從整合到我們業務的角度來看，它是無縫的，一切都是我們計劃的等等。 OnSIP 團隊的成員已併入 Ooma。對於某些人來說，某些活動發生了變化。有些人正在研究我們聚在一起之前在 Ooma 這邊所做的事情。但儘管如此，在 OnSIP 平台上，我們繼續推動某些領域的發展，當然也將繼續推動其銷售和營銷。

I will tell you that when we make our decisions now, we don't think so much about we want to do this for OnSIP or we want to do that for Ooma. We think about customer acquisition cost payback and channels to market, and we're always measuring what we do. And so I would say that we aren't spending all that much on growth for the OnSIP platform today. We found that some of the things we're doing more under the Ooma brand, if you will, have been more powerful for us. But we are still investing in OnSIP, and they brought on a meaningful number of users last quarter. But we're not driving a lot of growth in OnSIP per se. But certainly, it's fungible where we spend the money. With OnSIP here, they are positively contributing to our bottom line, and we have sales and marketing budget from that and we just allocate where we think we can make the biggest impact.

我會告訴你，當我們現在做出決定時，我們並沒有考慮太多我們想要為 OnSIP 做這件事還是我們想要為 Ooma 做那件事。我們考慮客戶獲取成本回報和市場渠道，並且我們始終在衡量我們所做的事情。所以我想說，我們今天並沒有在 OnSIP 平台的增長上花費太多。我們發現，如果你願意的話，我們在 Ooma 品牌下做的一些事情對我們來說更加強大。但我們仍在投資 OnSIP，他們上季度帶來了大量用戶。但我們本身並沒有推動 OnSIP 的大幅增長。但可以肯定的是，我們花錢的地方是可以互換的。有了 OnSIP，他們對我們的利潤做出了積極的貢獻，我們從中獲得了銷售和營銷預算，我們只是分配我們認為可以產生最大影響的地方。

So that's kind of how we look at it. And we were fortunate. OnSIP was a very mature platform that runs very, very well. We did bring out -- I should say they were already well along with, but we finished up and brought out a new admin portal that I think is a nice step forward for them. We've made some additions and changes to their mobile app. But really, we can kind of view this as part of the Ooma portfolio now and kind of run our sales and marketing as one company, and that's how we're doing it.

這就是我們的看法。我們很幸運。 OnSIP 是一個非常成熟的平台，運行得非常非常好。我們確實推出了——我應該說他們已經配合得很好，但我們完成並推出了一個新的管理門戶，我認為這對他們來說是一個很好的進步。我們對他們的移動應用程序進行了一些添加和更改。但實際上，我們現在可以將其視為 Ooma 產品組合的一部分，並將我們的銷售和營銷作為一家公司來運營，這就是我們正在做的事情。

Your next question comes from the line of Josh Nichols with B. Riley.

你的下一個問題來自 Josh Nichols 和 B. Riley 的對話。

Just to dig in a little bit more, it's good to hear about all the new wins and the growing funnel for AirDial, but where do we stand today as far as how many units have been installed? And if you could kind of pontificate a little bit about where the backlog is today in terms of number of units, so we could get some idea of what that growth potential should look like, whenever the deliveries and installations do start to ramp.

進一步深入了解一下，很高興聽到 AirDial 的所有新成果和不斷增長的漏斗，但目前我們已經安裝了多少台設備？如果您能以單位數量的形式對目前積壓的情況進行一些武斷的描述，那麼我們就可以了解每當交付和安裝確實開始增加時，增長潛力應該是什麼樣子。

So I can frame it a little for you, Josh. As you know, we haven't given those specifics yet. When we get a large customer, it can take 6 months to do rollout. In fact, our large customer from last fall that we announced 2 quarters ago, I think we're mopping up now the stragglers, but there's a handful of installations still to go. But they're pretty much getting done after 6 months of effort; frankly, a month or 2 of planning and then 6 months of effort. So rollout does take time.

所以我可以為你設計一下，喬什。如您所知，我們尚未給出這些細節。當我們獲得大客戶時，可能需要 6 個月的時間才能推出。事實上，我們在兩個季度前宣布的去年秋天的大客戶，我認為我們現在正在清理落後者，但還有一些安裝工作要做。但經過 6 個月的努力，他們已經基本完成了；坦率地說，需要一兩個月的計劃，然後是六個月的努力。所以推出確實需要時間。

I think we've gotten a lot better at rollout. We work with multiple third-parties when a customer wants to have a third-party do installation; and pay for it, by the way, it's something we charge for. And some of those new third-parties are relatively new compared to where we started. We've revamped our team internally. We have discovered that we need to dedicate more resources to this. We are actively hiring in the sales and engineering side of our company to try to support the growth of AirDial. I don't feel like we're keeping up with the opportunities we're seeing in the market. And I know it's a shame to say that. But it's kind of a new area for us, this kind of direct strategic sales capability. And we've got significant ambitions to add to the team through the balance of this year.

我認為我們在推出方面已經做得更好了。當客戶希望由第三方進行安裝時，我們會與多個第三方合作；順便說一句，這是我們收費的。與我們開始的地方相比，其中一些新的第三方相對較新。我們對團隊進行了內部重組。我們發現我們需要為此投入更多資源。我們正在積極招聘公司的銷售和工程人員，以努力支持 AirDial 的發展。我覺得我們沒有跟上我們在市場上看到的機會。我知道這麼說是一種恥辱。但這對我們來說是一個新領域，這種直接的戰略銷售能力。我們雄心勃勃，希望在今年餘下的時間裡增加團隊成員。

On the partner front, I mean, we've had some big wins: I mean T-Mobile, now UScellular; frankly, Prologis because of what they represent in the industry; and we're achieving new partners every quarter on AirDial. And it takes a little while to train them. It takes a while to get out in the market. But I can tell you that we routinely get surprised when a partner -- we expect some of these partners to deliver opportunities that are a few lines here, a few lines there, but it's amazing how some can bring in a larger sized opportunity.

在合作夥伴方面，我的意思是，我們取得了一些重大勝利：我的意思是 T-Mobile，現在是 UScellular；坦白說，普洛斯是因為他們在行業中的代表地位；我們每個季度都會在 AirDial 上結識新的合作夥伴。而且訓練他們需要一點時間。需要一段時間才能走出市場。但我可以告訴你，當合作夥伴出現時，我們通常會感到驚訝——我們希望其中一些合作夥伴能夠提供這裡幾行、那裡幾行的機會，但令人驚訝的是，有些合作夥伴能夠帶來更大的機會。

So it's an exciting time for us, but I don't feel like we have enough presence in the market, and I worry about the deals we're not seeing. I think if you look at our -- well, I know, if you look at our pipeline, our pipeline, which is to say, opportunities in our sales funnel, which are not yet closed, there are tens of thousands of lines. And that's the kind of opportunity we aspire to achieve. But in any case, I hope that frames it a little bit. I know it is maybe a little frustrating not to know it more specifically than that, but you do have our overall guidance and you know what we're trying to do. And yes, the largest wins that we achieve, I have been announcing those, and it gives you a sense that there is bigger potential here, I hope, as we go forward.

因此，這對我們來說是一個激動人心的時刻，但我覺得我們在市場上的影響力還不夠，而且我擔心我們看不到的交易。我想，如果你看看我們的——嗯，我知道，如果你看看我們的管道，我們的管道，也就是說，我們銷售漏斗中尚未關閉的機會，有數以萬計的線路。這就是我們渴望實現的機會。但無論如何，我希望能稍微框架一下。我知道不更具體地了解可能會有點令人沮喪，但你確實有我們的總體指導，並且你知道我們正在努力做什麼。是的，我們取得的最大勝利，我已經宣布了這些，我希望，隨著我們的前進，這讓你感覺到這裡有更大的潛力。

And then last question for me. You mentioned it just now in your comments but haven't talked about it as much. I know you have partnerships with T-Mobile on AirDial but also some Residential solutions. Just any updates on progress that's going on with that partnership.

然後是我的最後一個問題。您剛才在評論中提到了這一點，但還沒有談得太多。我知道您與 T-Mobile 在 AirDial 方面建立了合作夥伴關係，而且還與一些住宅解決方案建立了合作夥伴關係。只是該合作夥伴關係進展的任何更新。

Sure. That partnership has been in place for over a year now, and it's been pretty steady in the greater sense over the last several quarters. We get some customers out of that relationship that mainly are our customers there who saw our presence on T-Mobile's website and feel they want to get phone service with their Internet. What T-Mobile has not done is enabled marketing, if you will, marketing sales through their inside teams and some other things to mainly the systems, challenges and other things. So it's not been a big driver of our Residential business today, but it's a nice adder. We do see other opportunities similar in some respects to this to go after. And I don't know how far we'll get with those, but we are working other opportunities as well to try to use partners as well as our own sales activities on the Residential side of our business.

當然。這種合作關係已經存在一年多了，而且在過去幾個季度中，從更大的意義上來說，這種合作關係相當穩定。我們從這種關係中獲得了一些客戶，這些客戶主要是那些在 T-Mobile 網站上看到我們的存在並覺得他們希望通過互聯網獲得電話服務的客戶。 T-Mobile 還沒有做的是啟用營銷（如果你願意的話），通過他們的內部團隊和其他一些事情來營銷銷售，主要是系統、挑戰和其他事情。因此，它並不是我們今天住宅業務的主要推動力，但它是一個很好的補充。我們確實看到了在某些方面與此類似的其他機會值得追求。我不知道我們能在這些方面走多遠，但我們也在尋找其他機會，嘗試利用合作夥伴以及我們自己在住宅業務方面的銷售活動。

Your next question comes from the line of Brian Kinstlinger with Alliance Global Partners.

您的下一個問題來自 Alliance Global Partners 的 Brian Kinstlinger。

First, can you comment on how active T-Mobile and UScellular have been as partners to AirDial? And have either closed deals?

首先，您能否評論一下 T-Mobile 和 UScellular 作為 AirDial 合作夥伴的活躍程度？是否已完成交易？

Oh, goodness, both have closed deals. I talked about the very first deal from UScellular that happened even before they announced the program formally to their sales teams. Yes. Our 2 largest deals from last quarter both came through partners.

哦，天哪，兩家公司都達成了交易。我談到了 UScellular 的第一筆交易，該交易發生在他們正式向銷售團隊宣布該計劃之前。是的。上季度我們最大的兩筆交易均來自合作夥伴。

And so it takes time to ramp up. There's no question. It takes time for salespeople to get comfortable with things. And to be honest with you, there's a lot to know about AirDial. It's not the typical kind of thing that some of these entities would normally sell. But we have staff to work with them in deals and support the process. And I think it's a really important part of our strategy because we also sell AirDial through our channel partners that also sell, in particular, Ooma Enterprise. And they're finding us a lot of deals, but a lot of deals they find us are a few lines or a dozen lines. And I think what will really make AirDial the breakout success that we all aspire for it to be is winning the 500, 1,000 or even bigger line opportunities. And our partners have good relationships for that, and we're excited about what we're seeing with them.

因此，需要時間來提升。毫無疑問。銷售人員需要時間來適應事物。老實說，關於 AirDial 有很多東西需要了解。這不是這些實體通常會出售的典型物品。但我們有員工與他們合作進行交易並支持整個過程。我認為這是我們戰略的一個非常重要的部分，因為我們還通過我們的渠道合作夥伴銷售 AirDial，這些合作夥伴也銷售，特別是 Ooma Enterprise。他們給我們找到了很多交易，但他們給我們找到的很多交易都是幾行或十幾行。我認為真正讓 AirDial 取得我們都渴望的突破性成功的是贏得 500、1,000 甚至更大的線路機會。我們的合作夥伴在這方面有著良好的關係，我們對與他們所看到的一切感到興奮。

Great. And then what is it that takes about 6 months for a large implementation? Is it that the process needs to be changed for customers? Does technology have to be changed to prepare? And then once the customer is ready, how long does it actually take for Ooma, for their process, to actually install?

偉大的。那麼大規模實施需要大約 6 個月的時間是什麼？是不是需要為客戶改變流程？是否必須改變技術才能做好準備？然後，一旦客戶準備好，Ooma 的流程實際需要多長時間才能實際安裝？

So you need to wrap your head around a little bit the scope of a large customer. Let's say, that large customer I've talked about from last fall, more than 2,500 lines, more than 700 locations. If you're going to do -- if you do this in 6 months, you're doing, what, 115 locations a month, 30 locations a week? It starts to -- in every location, you don't really know maybe where your lines even terminate in your building. And once you find them and get the AirDial put in and test its reception, which usually works fine but we can switch, as we've talked in the past, to a variety of cellular providers if needed, to get better reception, but once you get the AirDial in and tested, then you got to plug the equipment into it and test the equipment.

因此，您需要稍微了解一下大客戶的範圍。比方說，我去年秋天談到的那個大客戶，有 2,500 多條線路，700 多個地點。如果你打算做——如果你在 6 個月內做這件事，你會做什麼，每月 115 個地點，每週 30 個地點？它開始 - 在每個位置，你可能都不知道你的線路甚至在你的建築物中終止於哪裡。一旦你找到它們並安裝 AirDial 並測試其接收情況，通常工作正常，但我們可以如我們過去所說，如果需要的話可以切換到各種蜂窩提供商，以獲得更好的接收效果，但是一旦您將AirDial 插入並進行測試，然後您必須將設備插入其中並測試設備。

But all that said, a couple of hours, 3 hours, we'll get an installation at a site done. If that installation needs 2 AirDials and 6 lines, it goes pretty fast per location. So it's really the number of locations that drives the time line and the effort, just the project planning and the pre-installation analysis you need to do to know how you're going to make the conversion happen.

但話雖如此，幾個小時，三個小時，我們就能在現場完成安裝。如果該安裝需要 2 個 AirDial 和 6 條線路，那麼每個位置的安裝速度都會非常快。因此，真正決定時間線和工作量的是地點的數量，只是您需要進行的項目規劃和安裝前分析，以了解如何實現轉換。

Got it. Last question for me is on the international front. You've obviously used your largest customer to expand internationally. At what point does the company make the investment necessary to begin selling to other customers outside this large customer? Is that in the next 12, 24 months? Is there too much on your plate to think about that right now?

知道了。我的最後一個問題是關於國際方面的。顯然，您已經利用最大的客戶進行國際擴張。公司何時進行必要的投資以開始向該大客戶之外的其他客戶銷售產品？是在接下來的 12、24 個月內嗎？你現在有太多事情需要考慮嗎？

Well, it's not in our plan for this fiscal year, which is the next 6 months, but I think it's fair to say that we aspire to it being in the time frame you mentioned or something like that. We're also going to have to question what we lead first with internationally. We see tremendous AirDial opportunity internationally as well. But most likely, if we're going to dovetail off what we've done with this large customer, we would begin selling our Ooma Office solution in particular, probably in Western European countries and to third-parties, to other parties. We would love to do that with certain partners or certain entrees into the market, and we are thinking about our strategy in that regard. But this year, we are not working on those next steps yet.

嗯，這不在我們本財年（即未來 6 個月）的計劃中，但我認為可以公平地說，我們希望在您提到的時間範圍內或類似的時間範圍內實現。我們還必須質疑我們在國際上的領先地位。我們在國際上也看到了巨大的 AirDial 機會。但最有可能的是，如果我們要與這個大客戶的合作相吻合，我們將開始銷售我們的 Ooma Office 解決方案，特別是在西歐國家以及第三方和其他各方。我們很樂意與某些合作夥伴或某些進入市場的參與者一起這樣做，我們正在考慮我們在這方面的策略。但今年，我們還沒有採取後續措施。

(Operator Instructions) Your next question comes from the line of Matthew Harrigan with Benchmark.

（操作員說明）您的下一個問題來自 Benchmark 的 Matthew Harrigan。

Congratulations on the results and the guidance. I just had a couple dangling things. One, I guess in the nature or course of vacuum category, you've got a huge TAM for AirDial. And clearly, there's a crying need right now. Are you seeing anything in the way of incipient competition or people you see who are at least desirous and coming in the space? And then anecdotally, in the U.S., I mean, despite AT&T working hard to phase out copper lines and all that, you're seeing something is almost price gouging in terms of what they're charging as the current alternative. Are you seeing the same type of this pricing when you look at Europe and other markets in terms of the copper lines just being way out of whack and that increasing the urgency of people wanting to move on?

祝賀您的結果和指導。我只有幾個懸掛的東西。第一，我想在真空類別的性質或過程中，您已經為 AirDial 提供了巨大的 TAM。顯然，現在迫切需要。您是否看到任何正在萌芽的競爭，或者您看到至少有渴望並進入該領域的人？有趣的是，我的意思是，在美國，儘管 AT&T 努力逐步淘汰銅線等，但就他們當前替代方案的收費而言，你會發現有些東西幾乎是在哄抬價格。當您觀察歐洲和其他市場時，您是否會看到同樣類型的定價，因為銅線完全不正常，並且增加了人們想要繼續前進的緊迫性？

Yes. So on your second part of your question, it varies a little bit. We don't see it so much in Canada. I believe in Canada, pricing is still relatively controlled, although we are seeing Canadian customers in need of AirDial and asking for it. And currently, we're not providing AirDial in Canada. So even though the market, I don't think, is as far along as it is here in the U.S., it's certainly going that way, but it's not there yet.

是的。因此，關於問題的第二部分，情況略有不同。我們在加拿大很少看到這種情況。我相信在加拿大，定價仍然相對受控，儘管我們看到加拿大客戶需要 AirDial 並提出要求。目前，我們不在加拿大提供 AirDial。因此，儘管我認為市場的發展不如美國，但它肯定會朝這個方向發展，但還沒有實現。

When we look at Europe, it varies a little bit by country. In fact, it varies a lot by country. Some countries haven't started their journey, but they know they need to. And they're in the very early days of looking for what they might do. Others are kind of getting started and now looking at what's the best approach to take. And I feel like whenever we can get in front of a partner in one of these countries -- because keep in mind, we need a cellular provider to at least provide the Internet connection that goes with AirDial. We find that, once we explain what AirDial does and how it works -- there's no product like it in the market, and so it's a really compelling story. And I really believe that. And it's just getting better every day, too. We've made so many improvements to it even over the last 6 months and extensions to it.

當我們觀察歐洲時，會發現各個國家的情況略有不同。事實上，不同國家的情況差異很大。有些國家還沒有開始他們的旅程，但他們知道他們需要這樣做。他們正處於尋找自己可以做什麼的早期階段。其他人則剛剛開始，正在考慮採取什麼最佳方法。我覺得每當我們能夠在這些國家/地區之一的合作夥伴面前時，因為請記住，我們需要一家蜂窩提供商至少提供與 AirDial 配套的互聯網連接。我們發現，一旦我們解釋了 AirDial 的作用及其工作原理，市場上就沒有類似的產品，因此這是一個非常引人注目的故事。我真的相信這一點。而且它也每天都在變得更好。即使在過去的 6 個月裡，我們也對其進行了很多改進和擴展。

So we're actively thinking that at that level more broadly than the U.S. But I don't think the other markets have turned the corner like the U.S. has over the last 12 months. Over the last 12 months, and really, over the last 6 months even, since the start of this year, we've seen customers a lot more aware of the need to do something. I think word starts to get out, and they start to notice their bills. And so the U.S. is clearly farther along than other countries, but you can definitely see it coming.

因此，我們正在比美國更廣泛地積極思考這一問題，但我認為其他市場並沒有像美國在過去 12 個月中那樣扭轉局面。在過去的 12 個月裡，實際上，甚至在過去的 6 個月裡，自今年年初以來，我們發現客戶更加意識到需要做一些事情。我想消息開始傳開，他們開始注意到自己的賬單。因此，美國顯然比其他國家走得更遠，但你絕對可以看到它的到來。

I hope that adjusted your question. I don't know if there was a first part of your question I didn't get to or not.

我希望調整了你的問題。我不知道你的問題的第一部分我是否沒有明白。

Yes, the first part of the question was really incipient competition. I know there's a long sales cycle. It takes a while to get product out and all that. But there's a crying need. It's a massive market opportunity. Do you see anyone at all that's at least working on a comparable solution incipiently? Because it doesn't feel like you would necessarily have 4 or 5 years to address this massive market before someone else or other people aggressively came in.

是的，問題的第一部分確實是初期的競爭。我知道銷售週期很長。需要一段時間才能把產品拿出來等等。但有一個迫切的需要。這是一個巨大的市場機會。您是否看到有人至少在初期就致力於類似的解決方案？因為在其他人或其他人積極進入之前，你不一定有 4 或 5 年的時間來應對這個巨大的市場。

I don't know of anyone that's working on a new solution for this market or any development underway to change the solutions that are out there today. I think the biggest challenge we face is making sure customers know we have AirDial and know what it can do for them. And we need a lot more outreach and branding and marketing to do that.

據我所知，沒有人正在為這個市場開發新的解決方案，也沒有人正在進行任何開發來改變現有的解決方案。我認為我們面臨的最大挑戰是確保客戶知道我們有 AirDial 並知道它可以為他們做什麼。我們需要更多的外展、品牌和營銷來做到這一點。

But if you're a large aggregator today, you have a lot of POTS lines that you've sold, and you know where they are and you can just walk into those customers, we need to get them to realize there's a viable alternative. We have a significant opportunity we're working right now where they got introduced to us through a third-party. And they were just thrilled to find out about us, but they had no idea. They just didn't know. And it's the kind of a customer we should be reaching out to. And so we're really trying to build our sales and marketing capability to be able to do more of that. And that's, I think, what will drive the business.

但是，如果您今天是一家大型聚合商，您已經出售了很多 POTS 生產線，並且您知道它們在哪裡，並且您可以直接走進這些客戶，我們需要讓他們意識到有一個可行的替代方案。我們現在正在工作一個重要的機會，他們是通過第三方介紹給我們的。他們很高興了解我們，但他們對此一無所知。他們只是不知道。這就是我們應該接觸的客戶。因此，我們確實正在努力建立我們的銷售和營銷能力，以便能夠做得更多。我認為這將推動業務發展。

There are no further questions at this time and concludes our Q&A session. I'll turn the call back to Eric for closing remarks.

目前沒有其他問題，我們的問答環節結束。我會將電話轉回給埃里克，讓他作結束語。

Well, thank you, everyone. We were excited to outperform on the revenue. And frankly, our $3.6 million in cash flow from operations is, I think, the most we've ever had as a company. And we're doing it while we're investing in these new strategic initiatives.

嗯，謝謝大家。我們很高興能夠在收入方面跑贏大盤。坦率地說，我認為我們 360 萬美元的運營現金流是我們公司有史以來最多的。我們在投資這些新戰略舉措的同時也在這樣做。

I feel like we're on track. And I realize, from all the questions here and just, in general, talking with all of you, we as well want to be able to show you even more AirDial success. And I want you know we're working hard towards that.

我覺得我們正在步入正軌。我意識到，從這裡的所有問題以及與大家交談的總體情況來看，我們也希望能夠向您展示 AirDial 的更多成功。我想讓你知道我們正在為此努力。

With that, thank you, everyone. We'll stop here. Thank you.

在此，謝謝大家。我們就停在這裡。謝謝。

This concludes today's conference call. You may now disconnect.

今天的電話會議到此結束。您現在可以斷開連接。