Ooma Inc (OOMA) 2024 Q4 法說會逐字稿

Hello, and thank you for standing by, and welcome to Ooma fourth quarter and fiscal year 2024 financial results.

您好，感謝您的支持，歡迎閱讀 Ooma 第四季和 2024 財年財務表現。

(Operator Instructions) I would now like to hand the conference over to Matt Robison.

（操作員指示）我現在想將會議交給馬特·羅賓遜。

You may begin.

你可以開始了。

Thank you, Towanda, and good day, everyone, and welcome to the Fiscal Fourth Quarter and Full Year 2024 earnings call.

謝謝 Towanda，大家好，歡迎參加 2024 財年第四季和全年財報電話會議。

I will make my name is Matt Robison and this Director of IR and Corporate Development.

我的名字是馬特·羅賓遜（Matt Robison），這位投資者關係和企業發展總監。

I apologize in case I cough during my comments on the call with me today are Ooma's CEO, Eric Stang, and CFO, Shig Hamamatsu.

如果我今天與 Ooma 的執行長 Eric Stang 和財務長 Shig Hamamatsu 通話時咳嗽，我深表歉意。

After the market closed today, Ooma issued its fiscal fourth quarter and full year 2024 earnings press release.

今天收盤後，Ooma 發布了第四財季和 2024 年全年收益新聞稿。

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 and Presentations page of the Investor Relations section of our website.

該版本也可在公司網站 ooma.com 上取得。此次電話會議正在進行網路直播，可透過我們網站投資者關係部分的活動和演示頁面上的連結進行存取。

This links will be active for replay of this call for one year.

此連結將在一年內有效，以便重播本次電話會議。

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

在今天的演示中，我們的高階主管將做出聯邦證券法意義內的前瞻性聲明。

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

前瞻性陳述通常與未來事件或未來財務或經營績效有關。

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.

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有重大差異。

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.

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。

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 so please note that other than revenue or as otherwise stated, the financial measures to be discussed disclosed on this call, we'll be on a non-GAAP basis.

本簡報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，因此請注意，除了收入或其他說明外，我們不承擔更新任何前瞻性陳述的義務。在本次電話會議上披露的要討論的財務措施，我們將按照非公認會計準則為基礎。

The non-GAAP financial measures are not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP and 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 on this call, we will give guidance for the first quarter and full year fiscal 2025 on a non-GAAP basis.

非 GAAP 財務指標無意被孤立考慮或作為根據 GAAP 準備的結果的替代品，以及我們為何提出非 GAAP 財務指標的討論以及本節中討論的非 GAAP 財務指標的調節表。對最直接可比較的GAAP 財務指標的調用包含在我們的收益新聞稿中，該新聞稿可在我們的網站上在本次電話會議上獲得，我們將在非GAAP 基礎上提供2025 財年第一季和全年的指導。

Also, in addition to our press release and 8-K filing, the overview page and events and presentations page in the investor section of our website as well as the quarterly results page.

此外，除了我們的新聞稿和 8-K 文件之外，我們網站的投資者部分還提供概述頁面、活動和演示頁面以及季度業績頁面。

The financial information section of our websites include links to information about costs and expenses whom not included in our non-GAAP values and key metrics of our core subscription businesses.

我們網站的財務資訊部分包含有關成本和費用資訊的鏈接，這些資訊未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。

These are titled Supplemental Financial Disclosure one and Supplemental Financial Disclosure two.

這些標題為「補充財務揭露一」和「補充財務揭露二」。

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

此外，我們的投資者簡報投影片包括 GAAP 與非 GAAP 調整表，而且還提供了非 GAAP 指標中排除的 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 的執行長 Eric Stang。

Thank you, Matt.

謝謝你，馬特。

Hi, everyone.

大家好。

Welcome to Ooma's Q4 fiscal year 2024 earnings call and thank you for joining us and look forward to reviewing our Q4 and fiscal year 2024 results with you today.

歡迎參加 Ooma 2024 財年第四季財報電話會議，感謝您加入我們，並期待今天與您一起回顧我們的第四季度和 2024 財年業績。

I'm also excited to talk with you about our strategy and plans for our upcoming 2025 fiscal year.

我也很高興與您討論我們即將到來的 2025 財年的策略和計劃。

Overall, I believe Ooma is fortunate to enter FY '25 in a strong position with leading product solutions, the significant potential for business expansion.

總體而言，我相信 Ooma 很幸運能夠以領先的產品解決方案和巨大的業務擴展潛力進入 25 財年，並處於有利地位。

In Q4, Ooma performed well financially, delivering $61.7 million in revenue and $3.5 million of non-GAAP net income.

第四季度，Ooma 財務表現良好，營收 6,170 萬美元和非 GAAP 淨利潤 350 萬美元。

Adjusted EBITDA jumped to $5.2 million in cash flow from operations increased significantly to $5.5 million.

調整後 EBITDA 躍升至 520 萬美元，營運現金流大幅增加至 550 萬美元。

For all of FY '24.

對於整個 24 財年。

We achieved $236.7 million in revenue, $15.4 million of non-GAAP net income and $19.8 million of adjusted EBITDA year-over-year, we grew revenue by 10%, non-GAAP net income by 13%, adjusted EBITDA by 14% and cash flow from operations by 40%.

我們的營收年增 2.367 億美元，非 GAAP 淨利潤成長 1,540 萬美元，調整後 EBITDA 成長 1,980 萬美元，營收成長 10%，非 GAAP 淨利成長 13%，調整後 EBITDA 成長 14%，現金成長營運流量減少40%。

We achieved this growth while also investing significantly in new market opportunities in international expansion.

我們實現這一成長的同時，也大力投資國際擴張中的新市場機會。

And we believe we made important progress in FY '24 on our strategy to expand our business and drive profitable growth.

我們相信，24 財年我們在擴展業務和推動獲利成長的策略方面取得了重要進展。

On the business side, in Q4, we continued to invest in feature expansion, customer growth and the development of new retail partnerships on all fronts.

業務方面，第四季度，我們繼續在各個方面進行功能擴展、客戶成長和新零售合作夥伴關係發展的投資。

Ooma Office, Ooma Enterprise, Ooma Airedale and 26 center hurts.

Ooma Office、Ooma Enterprise、Ooma Airedale 和 26 中心受傷。

We made significant achievements in Q4 for Ooma Office, our solution for small to medium sized businesses.

我們為中小型企業提供的解決方案 Ooma Office 在第四季度取得了重大成就。

We expanded our sales efforts on the leading legal vertical, taking advantage of our announced integration with clear legal practice management software.

利用我們宣布的與清晰的法律實踐管理軟體的集成，我們擴大了在領先的法律垂直領域的銷售力度。

These efforts are going well with our largest customer win in the quarter being a 90-user deal.

這些努力進展順利，本季我們最大的客戶贏得了 90 位用戶的交易。

We also increased the proportion of new Ooma Office customers who signed up for a premium tier of service to 59%, our highest level to date.

我們還將註冊高級服務的新 Ooma Office 客戶比例提高到 59%，這是我們迄今為止的最高水準。

I'm also pleased to report that we signed an agreement with a new partner who will resell Ooma Office, and we have started the work to enable them to expect the contribution from this partner this year to be modest, but we continue, but we consider it a great first step, third, engaging other potential reseller partners for Ooma Office.

我還很高興地報告，我們與一個新的合作夥伴簽署了一項協議，該合作夥伴將轉售Ooma Office，我們已經開始工作，使他們能夠期望該合作夥伴今年的貢獻是適度的，但我們會繼續，但我們認為這是一個偉大的第一步，第三，為 Ooma Office 吸引其他潛在的經銷商合作夥伴。

Regarding Ooma Enterprise, our solution for larger sized businesses we also made significant achievements in Q4.

至於Ooma Enterprise，我們為大型企業提供的解決方案，我們在第四季也取得了重大成就。

One was a large new customer.

其中一位是一位大新客戶。

We signed where we will serve several thousand users spread across 400 locations.

我們簽署了將為分佈在 400 個地點的數千名用戶提供服務的協議。

We will be we will be providing a combination of our full UCaaS solution for many of their users and our team's integrated calling solution for the rest in our targeted hospitality vertical we continued our momentum, again, winning over 50 new hotels in the quarter.

我們將為許多用戶提供完整的 UCaaS 解決方案，並為我們目標酒店垂直領域的其他用戶提供我們團隊的整合呼叫解決方案，我們繼續保持勢頭，在本季度贏得了 50 多家新酒店。

We also brought on a new technology partner who will help us so into this space, Ooma AirDial, our innovative solution to replace aging and expensive POTS lines continued to make progress in Q4's as we invest in this new opportunity.

我們還引入了新的技術合作夥伴 Ooma AirDial，它將幫助我們進入這個領域。隨著我們投資這個新機會，我們取代老化且昂貴的 POTS 線路的創新解決方案在第四季度繼續取得進展。

In Q4, we closed over 500 new customer deals with some being notable large company wins.

第四季度，我們完成了 500 多個新客戶交易，其中一些是著名的大公司贏得的。

We expect many of these deals will start by rolling out only to a small subset of the available locations and then build through the year.

我們預計，其中許多交易將首先在一小部分可用地點推出，然後在全年內逐步擴大。

In general, we find customers want to move forward on their immediate needs for copper line replacement, usually driven by lines being shut off or substantially increased line pricing before the planning for rollout of Airedale across their business locations.

總的來說，我們發現客戶希望滿足他們對銅線更換的迫切需求，這通常是由於在計劃在其業務地點推出 Airedale 之前關閉線路或大幅提高線路價格所致。

In Q4, we also continued to refine our AirDial product solution, including enhancing the AirDial remote device management system and enabling Airtel to serve new applications we came across.

第四季度，我們也持續完善 AirDial 產品解決方案，包括增強 AirDial 遠端設備管理系統，並使 Airtel 能夠為我們遇到的新應用程式提供服務。

We added five new AirDial resale partners in Q4, which expands the number of partners reselling AirDial to over a dozen now.

我們在第四季度新增了 5 個 AirDial 轉售合作夥伴，這使得 AirDial 轉售合作夥伴的數量現在增加到了十多個。

And finally, I'm very happy to report that Ooma AirDial won the 2024 TMC Internet Telephony Product of the Year Award for its multipath technology, which delivers unique and patented uninterrupted backup for POTS replacement.

最後，我非常高興地向大家報告，Ooma AirDial 憑藉其多路徑技術贏得了 2024 年 TMC 年度互聯網電話產品獎，該技術為 POTS 更換提供獨特且獲得專利的不間斷備份。

Turning now to 2,600 Hertz, our wholesale UCaaS, CCaaS and CPaaS platform solution.

現在轉向 2,600 Hertz，我們的批發 UCaaS、CCaaS 和 CPaaS 平台解決方案。

I believe we have made tremendous progress since acquiring them just four months ago.

我相信，自從四個月前收購它們以來，我們已經取得了巨大的進步。

We believe we are on track to achieve the synergies we planned and make 2,600 Hertz adjusted EBITDA accretive in Q1 of this year.

我們相信，我們有望實現我們計劃的協同效應，並在今年第一季實現 2,600 Hertz 調整後 EBITDA 的增值。

What is particularly exciting for us though is the level of new customer interest we are seeing.

不過，對我們來說特別令人興奮的是我們看到的新客戶興趣程度。

This is happening faster than I expected.

這一切發生的速度比我預期的還要快。

We have already won one new customer who will convert their customer base to the 2,600 Hertz Kazoo platform, and we are currently far along on other new customer opportunities.

我們已經贏得了一位新客戶，他將把他們的客戶群轉換為 2,600 Hertz Kazoo 平台，而且我們目前在其他新客戶機會方面也進展順利。

2,600 Hertz is being looked at to replace aging and less agile UCaaS platforms.

人們正在考慮用 2,600 Hertz 來取代老化且不太靈活的 UCaaS 平台。

It is also being looked at as an alternative to standard CPaaS solutions, which lack prebuilt applications and cannot be directly controlled and hosted by end customers.

它也被視為標準 CPaaS 解決方案的替代方案，後者缺乏預先建置的應用程序，並且無法由最終客戶直接控制和託管。

Of course, the wholesale nature of this business means it will take new customers an extended amount of time to implement the solution and produce revenue.

當然，這項業務的批發性質意味著新客戶將需要更長的時間來實施解決方案並產生收入。

Nonetheless, the unexpectedly high level of interest we are seeing gives us confidence in our acquisition thesis and strategy for 2,600 herbs.

儘管如此，我們所看到的出人意料的高興趣讓我們對 2,600 種草藥的收購理念和策略充滿信心。

We're proud of our accomplishments in Q4, but we also realize we have much more to do to capitalize on the investments we are making in the business.

我們對第四季度的成就感到自豪，但我們也意​​識到，要充分利用我們在業務中所做的投資，我們還有很多工作要做。

As we look forward, we believe we are well-placed to do so for three main reasons.

展望未來，我們相信我們有能力做到這一點，原因有三。

One reason is we believe we are a leader in the key segments we serve with differentiated product solutions and a very low cost position to provide services.

原因之一是我們相信，我們憑藉差異化的產品解決方案和極低的服務成本，成為我們所服務的關鍵領域的領導者。

A second reason is we see significant untapped market opportunity in the key segments we target, in particular, since so many smaller sized businesses have yet to move to a more advanced cloud communications solution.

第二個原因是我們在我們的目標關鍵細分市場中看到了巨大的未開發市場機會，特別是因為許多小型企業尚未轉向更先進的雲端通訊解決方案。

Third reason isthe new directions we have invested in over the last couple of years.

第三個原因是我們過去幾年投資的新方向。

Ooma AirDial for parts replacement and Ooma 2,600 Hertz for wholesale UCaaS, CCaaS and CPaaS applications give us greater breadth of opportunity and open up paths to partner with others and extend our market reach.

用於零件更換的 Ooma AirDial 和用於批發 UCaaS、CCaaS 和 CPaaS 應用程式的 Ooma 2,600 Hertz 為我們提供了更廣泛的機會，並開闢了與其他人合作並擴大我們的市場範圍的途徑。

As we look forward, we see several meaningful trends that support our strategic direction and give us confidence that the investments we are making will pay off.

展望未來，我們看到了一些有意義的趨勢，這些趨勢支持我們的策略方向，並使我們相信我們所做的投資將會得到回報。

One of these is simply the fact that in North America alone, we estimate there are 6.4 million small businesses with 1 to 20 employees and that a significant amount of these businesses have yet to transition to a modern cloud-based communications solution.

其中之一就是，光是在北美，我們估計就有 640 萬家擁有 1 至 20 名員工的小型企業，其中很大一部分企業尚未過渡到基於雲端的現代通訊解決方案。

We believe the market opportunity for Ooma Office is quite sizable, a second trend, the shutting down of the traditional copper phone network, which is already underway, both here in the USA and in parts of Europe, it seems to be accelerating as of late.

我們認為 Ooma Office 的市場機會相當大，第二個趨勢是傳統銅線電話網路的關閉，這已經在美國和歐洲部分地區進行，而且最近似乎正在加速。 。

We have what we believe is the leading solution with their dial to server equipment that doesn't easily move off of a copper line or generally, our small business and residential solutions, both benefit as well as customers are forced to look for new solutions when they lose their copper connection.

我們擁有我們認為領先的解決方案，其撥號到伺服器設備不易脫離銅線，或者一般而言，我們的小型企業和住宅解決方案既受益，而且客戶也被迫尋找新的解決方案他們失去了銅連接。

A third trend, which we believe is favorable to Ooma is the rise of 5G Internet.

我們認為對 Ooma 有利的第三個趨勢是 5G 網路的崛起。

Many smaller sized businesses rely today on a double play solution in other words, Internet and phone from a cable provider.

如今，許多小型企業都依賴雙重播放解決方案，即由網路和有線電視供應商提供的電話。

The availability of 5G wireless Internet can cause these businesses to reconsider not only their Internet solution, but also their communications provider.

5G 無線互聯網的出現不僅會導致這些企業重新考慮其互聯網解決方案，還會重新考慮其通訊供應商。

It also presents a future opportunity for Ooma to offer its own 5G double-play solution.

這也為 Ooma 提供了提供自己的 5G 雙網解決方案的未來機會。

As you know, currently, we offer our 4G based Ooma Connect solution as backup Internet for businesses or sometimes as primary Internet for very small sized businesses.

如您所知，目前，我們提供基於 4G 的 Ooma Connect 解決方案作為企業的備用互聯網，有時也作為小型企業的主要互聯網。

A fourth bucket trend is the advent of AI in contact center applications in generally across all communications.

第四個趨勢是人工智慧在所有通訊領域的聯絡中心應用中的出現。

Significant data is created in the form of calls, texts and chats and AI. has a strong role to play to help businesses optimize their performance.

重要數據以通話、簡訊、聊天和人工智慧的形式創建。在幫助企業優化績效方面發揮強大的作用。

To date, our activities in this area have been limited in part due to the new newness of AI and the fact that AI. has not yet seen much adoption by smaller sized businesses.

迄今為止，我們在這一領域的活動受到限制，部分原因是人工智慧的新穎性以及人工智慧的事實。尚未被小型企業廣泛採用。

However, as we look forward, we anticipate launching AI applications in our solutions and believe that these applications will make our solutions more valuable and in greater demand by our customers.

然而，展望未來，我們預計在我們的解決方案中推出人工智慧應用程序，並相信這些應用程式將使我們的解決方案更有價值，並受到客戶的更大需求。

And finally, the last industry trend that I want to highlight is the desire by customers to do more with their communications solutions by making the applications they use more bespoke to their individual needs for smaller customers.

最後，我要強調的最後一個行業趨勢是客戶希望透過使他們使用的應用程式更適合小型客戶的個人需求來利用他們的通訊解決方案做更多事情。

This can entail integrations with other solutions used in their businesses for larger customers.

這可能需要與大客戶業務中使用的其他解決方案整合。

This can mean building custom applications using using either C pass or a flexible API based wholesale platform, either way Ooma is positioned with innovative and leading solutions to take advantage of this customer opportunities.

這可能意味著使用 C pass 或基於靈活 API 的批發平台建立自訂應用程序，無論哪種方式，Ooma 都透過創新和領先的解決方案來利用這一客戶機會。

Building on these industry trends, our plans for FY '25 include continued investment in key opportunities balanced with improvement in bottom line results.

基於這些產業趨勢，我們 25 財年的計畫包括繼續投資於關鍵機會，並與獲利結果的改善相平衡。

Some of the things we plan to accomplish in FY '25 are one to introduce new integrations with other platforms to extend our current call center capability into a more complete and omnichannel contact center solution three, to incorporate 5G performance into our Ooma Connect wireless Internet solution for to expand further internationally, including with our largest customer IWG. five to enhance our 26 hundred hertz wholesale platform by integrating other Ooma technology and applications, six to increase our sales and marketing activities across our business from direct sales to online and inside sales channel and agent sales to partner sales in fine leasing seven to grow our community of resale partners who value our solutions and help us reach more of the vast market opportunity in front of us.

我們計劃在25 財年完成的一些事情是，一是引入與其他平台的新集成，將我們當前的呼叫中心功能擴展為更完整的全渠道聯絡中心解決方案，三是將5G 性能納入我們的Ooma Connect 無線網路解決方案進一步擴展國際業務，包括與我們最大的客戶 IWG 合作。五是透過整合其他Ooma 技術和應用程式來增強我們的2600 赫茲批發平台，六是增加我們整個業務的銷售和行銷活動，從直接銷售到線上和內部銷售管道以及代理銷售到精細租賃的合作夥伴銷售七是擴大我們的業務由轉售合作夥伴組成的社區，他們重視我們的解決方案並幫助我們抓住更多擺在我們面前的廣闊市場機會。

I'm excited by the strategy we have put in place and by the progress I see us having made each quarter as we expand and grow, I believe FY 25 looks to be an exciting year ahead for Ooma.

我對我們所製定的策略感到興奮，也對我們每個季度在擴張和發展過程中所取得的進展感到興奮，我相信 25 財年對 Ooma 來說將是激動人心的一年。

I'll 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財務長 Shig，更詳細地討論我們的業績和前景，然後回到一些結束語。

Thank you, Eric, and good afternoon, everyone.

謝謝你，埃里克，大家下午好。

I'm going to review our fourth quarter financial results and then provide our outlook for the first quarter and full year fiscal 2025.

我將回顧我們第四季度的財務業績，然後提供我們對 2025 財年第一季和全年的展望。

We delivered another solid quarter with a total revenue of $61.7 million near the high end of our guidance range.

我們又實現了一個穩定的季度，總收入為 6,170 萬美元，接近我們指導範圍的上限。

On year-over-year basis, total revenue grew 9% in the fourth quarter, driven by the growth of Ooma Business as well as the addition of 25 efforts in the fourth quarter, business, subscription and services revenue accounted for 60% of total subscription and services revenue as compared to 55% in the prior year quarter.

年比而言，第四季總營收成長9%，受Ooma業務成長以及第四季新增25項努力的推動，業務、訂閱和服務收入佔總收入的60%訂閱和服務收入較上年同期成長55%。

Q4 product and other revenue came in at $3.7 million as compared to $3.9 million in the prior year quarter.

第四季產品和其他收入為 370 萬美元，而去年同期為 390 萬美元。

On a full year basis, total revenue was $236.7 million as compared to $216.2 million in the prior year, representing 10% growth year-over-year, including 22% growth in Business subscription and services revenue.

全年總收入為 2.367 億美元，上年為 2.162 億美元，年增 10%，其中商業訂閱和服務收入成長 22%。

On the profitability front, the fourth quarter non-GAAP net income was $3.5 million, which exceeded our guidance range.

在獲利能力方面，第四季度非 GAAP 淨利潤為 350 萬美元，超出了我們的指導範圍。

On a full year basis, non-GAAP net income was $15.4 million compared to $13.6 million in the prior year.

以全年計算，非 GAAP 淨利潤為 1,540 萬美元，上一年為 1,360 萬美元。

Now some details on our Q4 revenue business subscription and services revenue grew 19% year-over-year in Q4, June, driven by Ooma Business User growth and the addition of 26 efforts, excluding the effect of inorganic revenue contribution Ooma Business.

現在，我們的第四季營收業務訂閱和服務收入的一些詳細資訊在6 月第四季年增19%，這得益於Ooma Business 用戶成長和26 項工作的增加，不包括Ooma Business 無機收入貢獻的影響。

Subscription and services revenue grew 12% year-over-year.

訂閱和服務收入較去年同期成長 12%。

On residential side, subscription and services revenue was down 1.7% year-over-year.

住宅方面，訂閱和服務收入較去年同期下降 1.7%。

As a reminder, we had a one-time churn event during the first quarter of fiscal 2024, with a particular customer was on an unusual application, which continued to impact our year-over-year comparison in Q4.

提醒一下，我們在 2024 財年第一季發生了一次一次性客戶流失事件，其中一位特定客戶使用了不尋常的應用程序，這繼續影響了我們第四季度的同比比較。

For the fourth quarter, total subscription and services revenue was $58 million or 94% of total revenue compared to 93% in the prior year quarter.

第四季訂閱和服務總收入為 5,800 萬美元，佔總收入的 94%，而去年同期為 93%。

Now some details on our key customer metrics.

現在介紹一些關於我們關鍵客戶指標的詳細資訊。

As a reminder, except for annual recurring revenue, these metrics do not include the 2,600 Hertz. wholesale business.

提醒一下，除了年度經常性收入外，這些指標不包括 2,600 赫茲。批發業務。

We ended the fourth quarter with 1.243 million core users, up from 1.241 million core users at the end of the third quarter.

截至第四季末，我們的核心用戶數為 124.3 萬，高於第三季末的 124.1 萬。

At the end of the fourth quarter, we had 484,000 business users or 39% of our total core users, an increase of 9,000 from Q3.

截至第四季末，我們擁有 48.4 萬企業用戶，佔核心用戶總數的 39%，較第三季增加 9,000 名。

Our blended average monthly subscription and services revenue per core user or ARPU increased 3% year-over-year to $14.72 driven by an increasing mix of business users, including higher ARPU Office Pro and Pro Plus users.

由於企業用戶數量不斷增加，包括較高 ARPU 的 Office Pro 和 Pro Plus 用戶，我們的每位核心用戶或 ARPU 的平均每月訂閱和服務混合收入年增 3%，達到 14.72 美元。

During the fourth quarter, we continued to see a healthy Office Pro and Pro plus take rate with 59% of new office users opting for these higher-tier services, which was up from 52% in the prior year quarter.

在第四季度，我們繼續看到 Office Pro 和 Pro plus 的良好使用率，59% 的新辦公室用戶選擇這些更高層級的服務，高於去年同期的 52%。

Overall, 29% of Ooma Office users have now subscribed to Pro Pro plus here our annual exit recurring revenue grew to $227 million and was up 10% year-over-year.

整體而言，29% 的 Ooma Office 用戶現已訂閱 Pro Pro，此外，我們的年度退出經常性收入成長至 2.27 億美元，較去年同期成長 10%。

Our net dollar subscription retention rate for the quarter was 99% as compared to 99% in the third quarter.

本季我們的淨美元訂閱保留率為 99%，而第三季為 99%。

Now some details on our gross margin as subscription and services gross margin for the fourth quarter was 72% as compared to 73% in the prior year.

現在我們的毛利率的一些細節是，第四季度的訂閱和服務毛利率為 72%，而上一年為 73%。

As a reminder, subscription and services gross margin for the fourth quarter this fiscal year included a full quarter impact of 26 center whose gross margin, which is running lower due to lower subscription gross margin.

需要提醒的是，本財年第四季的訂閱和服務毛利率包括 26 個中心的整個季度影響，這些中心的毛利率由於訂閱毛利率較低而不斷下降。

Product and other gross margin for the fourth quarter was negative 72% as compared to negative 54% for the same period last year.

第四季產品及其他毛利率為負 72%，去年同期為負 54%。

As mentioned in prior calls, the decline in Q4 product gross margin this year versus last year was primarily due to sell through and tied to certain higher cost components that we had procured in the last fiscal year due to pandemic-driven supply chain issues.

正如先前的電話會議中所提到的，今年第四季產品毛利率較去年下降的主要原因是由於大流行驅動的供應鏈問題，我們在上一財年採購的某些成本較高的部件已售罄。

We currently estimate Product and other gross margin for the first half of fiscal 2025 will be comparable to that of the fourth quarter fiscal 2024 as we continue to work through this excess component costs and then no, and then normalizing in the negative 50% range starting in the second half of fiscal 2025 on an overall basis, total gross margin for Q4 was 63% as compared to 64% in the prior quarter.

我們目前估計 2025 財年上半年的產品和其他毛利率將與 2024 財年第四季相當，因為我們將繼續解決組件成本過剩的問題，然後不再，然後在負 50% 的範圍內正常化2025財年下半年整體而言，第四季的總毛利率為63%，而上一季為64%。

And now some details on operating expenses.

現在是有關營運費用的一些細節。

Selling and marketing expenses for the fourth quarter were $17.3 million or 28% of total revenue, up 2% year-over-year, primarily driven by increases in personnel costs and channel development.

第四季的銷售和行銷費用為 1,730 萬美元，佔總收入的 28%，年增 2%，主要是由於人員成本和通路開發的增加。

Activity for Edah research and development expenses were $11.9 million or 19% of total revenue, up 14% on a year-over-year basis, driven mainly by the addition of 2,600 Hertz team members.

Edah 的研發費用為 1,190 萬美元，佔總收入的 19%，年成長 14%，這主要是由於增加了 2,600 名 Hertz 團隊成員。

G&A expenses were $5.4 million or 9% of total revenue for the fourth quarter compared to $4.9 million for the prior year quarter.

第四季一般管理費用為 540 萬美元，佔總營收的 9%，去年同期為 490 萬美元。

The year year-over-year increase in G&A expenses was primarily due to an increase in personnel costs.

一般及行政費用較去年同期成長主要是由於人員成本的增加。

Overall, total operating expenses for the fourth quarter or $34.7 million, up $2.3 million or 7% from the same period last year.

總體而言，第四季總營運費用為 3,470 萬美元，比去年同期增加 230 萬美元，即 7%。

Non-GAAP net income for the fourth quarter was $3.5 million, or a diluted earnings per share of $0.13 as compared to $0.16 of diluted earnings per share in the prior year quarter.

第四季非 GAAP 淨利為 350 萬美元，稀釋後每股收益為 0.13 美元，去年同期稀釋後每股收益為 0.16 美元。

In addition to stock-based compensation and intangible amortization expenses, non-GAAP net income for the fourth quarter excluded approximately $1.0 million of acquisition and other related costs incurred in connection with the 26 enterprise transaction.

除了基於股票的薪酬和無形攤銷費用外，第四季度的非公認會計準則淨利潤不包括與 26 家企業交易相關的約 100 萬美元的收購和其他相關成本。

Adjusted EBITDA for the quarter was $5.2 million, a record for the Company for 8% of total revenue as compared to $5.1 million for the prior year quarter.

本季調整後 EBITDA 為 520 萬美元，占公司總營收的 8%，創下公司紀錄，去年同期為 510 萬美元。

We ended the quarter with total cash and investments of $17.5 million and cash generated from operations for the fourth quarter was strong and up $5.5 million.

本季末，我們的現金和投資總額為 1,750 萬美元，第四季營運產生的現金強勁，增加了 550 萬美元。

It was a new quarterly record for a company.

這是一家公司的新季度記錄。

For fiscal 2024, we generated a record $12.3 million of operating cash flow and $6.1 million of free cash flow, which represented 40% and 69% increase, respectively, over the prior year.

2024 財年，我們創造了創紀錄的 1,230 萬美元營運現金流和 610 萬美元自由現金流，分別比前一年增長 40% 和 69%。

Given our strong cash flow in the fourth quarter, we already already began paying down the debt and reduce the outstanding balance by $2 million.

鑑於第四季強勁的現金流，我們已經開始償還債務並將未償餘額減少 200 萬美元。

At the end of Q4, we paid down an additional $2 million shortly after the end of Q4.

在第四季末，我們在第四季末後不久又支付了 200 萬美元。

And as of today, we have reduced the outstanding debt balance to $14 million.

截至今天，我們已將未償債務餘額減少至 1,400 萬美元。

On the headcount front, we ended the quarter with 1,221 employees and contractors.

在員工人數方面，本季末我們有 1,221 名員工和承包商。

Now I'll provide guidance for the first quarter and full fiscal year 2025.

現在我將提供 2025 年第一季和整個財年的指導。

Our guidance is on a non-GAAP basis and has been adjusted for expenses such as stock-based compensation and amortization of intangibles.

我們的指導基於非公認會計原則，並針對股票薪酬和無形資產攤銷等費用進行了調整。

We expect total revenue for the first quarter of fiscal 25 to be in the range of $61.7 million to $62.2 million, which includes $3.7 million to $3.9 million of product revenue.

我們預計 25 財年第一季的總營收將在 6,170 萬美元至 6,220 萬美元之間，其中包括 370 萬美元至 390 萬美元的產品收入。

We expect first quarter net income to be in the range of $3 million to $3.3 million.

我們預計第一季淨利潤將在 300 萬美元至 330 萬美元之間。

Non-gaap diluted EPS is expected to be between $0.11 and $0.12.

非 GAAP 攤薄後每股收益預計在 0.11 美元至 0.12 美元之間。

We have assumed $26.6 million weighted average diluted shares outstanding for the first quarter.

我們假設第一季加權平均稀釋後流通股價值為 2,660 萬美元。

For full year fiscal 2025, we expect total revenue to be in the range of $250 million to $253 million.

對於 2025 財年全年，我們預計總營收將在 2.5 億至 2.53 億美元之間。

The full year fiscal 2025 revenue guidance assumes business subscription and services revenue growth rate of 11% to 13% over fiscal 2024, while residential subscription revenue to decline 1% to 2%.

2025 財年全年營收指引假設企業訂閱和服務收入比 2024 財年成長 11% 至 13%，而住宅訂閱收入將下降 1% 至 2%。

For fiscal 2025 revenue guidance, fiscal 2025 revenue guidance also assumes the impact a larger than normal churn from IWG., where the seat count is expected to be reduced by about 20% in the first quarter.

對於 2025 財年收入指引，2025 財年收入指引也假設 IWG 的影響比正常情況更大，預計第一季座位數將減少約 20%。

We believe this event is infrequent in nature and the substantial portion of it can be offset by additional seat deployment during fiscal 2025 as we continue international expansion with high double-digit in terms of revenue mix for the year, we expect 93% to 94% of total revenue to come from subscription and services revenue and the remainder from products and other revenue.

我們認為，這一事件本質上是罕見的，隨著我們繼續以高兩位數的年度收入組合進行國際擴張，其中很大一部分可以透過2025 財年期間的額外席位部署來抵消，我們預計93%至94%總收入的一半來自訂閱和服務收入，其餘則來自產品和其他收入。

We expect non-GAAP net income for fiscal 25 to be in the range of $14 million to $15 million.

我們預計 25 財年非 GAAP 淨利潤將在 1,400 萬美元至 1,500 萬美元之間。

Based on this guidance range, we estimate our adjusted EBITDA for fiscal 2025 to be $20.5 million to $21.5 million.

根據這項指引範圍，我們估計 2025 財年調整後的 EBITDA 為 2,050 萬美元至 2,150 萬美元。

Let me give you some additional color on our fiscal 2025 non-GAAP net income guidance.

讓我對我們的 2025 財年非 GAAP 淨利指引進行一些補充說明。

While we expect non-GAAP operating margin and adjusted EBITDA to increase year-over-year.

我們預計非 GAAP 營業利潤率和調整後 EBITDA 將年增。

Our non-GAAP net income guidance range represents a slight decline year-over-year due to the following factors.

由於以下因素，我們的非公認會計原則淨利潤指導範圍較去年同期略有下降。

First, we expect interest expense to increase by $0.7 million to $0.8 million due to a full year impact of the new revolver debt.

首先，由於新的循環債務對全年的影響，我們預計利息支出將增加 70 萬美元至 80 萬美元。

Second, we expect interest income will be lower year-over-year by approximately $1 million as we continue to focus on debt paydown in fiscal year 2025.

其次，隨著我們繼續關注 2025 財年的債務償還，我們預計利息收入將比去年同期減少約 100 萬美元。

Lastly, we currently estimate tax expense for fiscal 2025 will increase by approximately $0.2 million.

最後，我們目前估計 2025 財年的稅收支出將增加約 20 萬美元。

We expect non-GAAP diluted EPS for fiscal '25 to be in the range of $0.51 to $0.55. We have assumed approximately $27.4 million weighted average diluted shares outstanding for fiscal 2025.

我們預計 25 財年非 GAAP 攤薄後每股收益將在 0.51 美元至 0.55 美元之間。我們假設 2025 財年加權平均稀釋後流通股數約為 2,740 萬美元。

In summary, we are pleased we are pleased with our solid finish to our fiscal '24 with a record quarterly adjusted EBITDA, along with strong cash generation in the fourth quarter.

總而言之，我們很高興我們對 24 財年的穩健完成感到滿意，季度調整後 EBITDA 創歷史新高，第四季度現金產生強勁。

We are excited about growth opportunities in front of us and remain focused on executing to our long-term strategy to achieve profitable growth.

我們對眼前的成長機會感到興奮，並繼續專注於執行我們的長期策略，以實現獲利成長。

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

現在我將把它傳回給埃里克，讓他做一些結束語。

Eric, you should, as I mentioned at the outset, as we enter fiscal year 2025 in a strong position with leading product solutions and significant potential for business expansion.

Eric，正如我在開頭提到的那樣，隨著我們進入 2025 財年，我們憑藉領先的產品解決方案和巨大的業務擴展潛力處於有利地位。

We are working to take advantage of several significant industry trends, and our strategy includes exciting investments in future expansion, customer growth and the development of new retail partnerships.

我們正在努力利用幾個重要的行業趨勢，我們的策略包括對未來擴張、客戶成長和新零售合作夥伴關係發展的令人興奮的投資。

We believe our strategic focus on small to medium sized businesses, larger businesses that are in select verticals, POTS replacement and wholesale UCaaS, CCaaS and CPaaS platform opportunities positions us well for future success.

我們相信，我們的策略重點是中小型企業、特定垂直產業的大型企業、POTS 替代品和批發 UCaaS、CCaaS 和 CPaaS 平台機會，這將使我們在未來取得成功。

Thank you.

謝謝。

(Operator Instructions) Arjun Bhatia with William Blair.

（操作員指示）阿瓊·巴蒂亞 (Arjun Bhatia) 和威廉·布萊爾 (William Blair)。

Your line is open.

您的線路已開通。

Perfect.

完美的。

Thank you, guys.

感謝你們。

Appreciate you taking the question here and about the partnership with Clio was pretty interesting, especially as it relates to the legal vertical.

感謝您在這裡提出問題，關於與 Clio 的合作關係非常有趣，特別是因為它涉及法律垂直領域。

Can you maybe just expand a little bit on the how impactful that can be to the business?

您能否詳細說明一下這對業務的影響有多大？

And when you think about other verticals or other potential partnerships, how are you viewing the opportunity with some of these vertical software players that exist to and as an entry point into other verticals or to expand some of those where you might already have a presence?

當您考慮其他垂直行業或其他潛在的合作夥伴關係時，您如何看待與某些垂直軟體參與者的機會，這些軟體參與者存在並作為進入其他垂直行業的切入點，或者擴展您可能已經存在的一些垂直行業？

Yeah, happy to.

是的，很高興。

I don't think this well, the each time we do, one of these, it gives us an opportunity to bring them more integrated solution, frankly, for the customers in that vertical and from a sales and marketing perspective, it also allows us to position ourselves well as a good solution to those customers.

我認為這不太好，每次我們這樣做，其中之一，它讓我們有機會為他們帶來更集成的解決方案，坦率地說，對於該垂直領域的客戶，從銷售和營銷的角度來看，它也使我們能夠將自己定位為這些客戶的良好解決方案。

And to some degree, depending on who the partner is, we can also get some momentum and some additional sales and marketing reach out of what the partner will do with us on their own to help promote or support what we're doing.

在某種程度上，根據合作夥伴是誰，我們還可以從合作夥伴與我們一起做的事情中獲得一些動力和一些額外的銷售和行銷範圍，以幫助促進或支持我們正在做的事情。

So, all around, it's an exciting way to just build a better solution for the customer.

因此，總的來說，這是一種為客戶建立更好的解決方案的令人興奮的方式。

And we've definitely seen that in legal vertical.

我們在法律垂直領域確實看到了這一點。

What we've done with on with clear, we've done things in a couple of other verticals already as well.

顯然，我們已經在其他幾個垂直領域做了一些事情。

And I think you'll just see it with what we expect to rollout a cadence of these through the year as we look forward.

我想你們會看到我們預計在今年推出這些產品的節奏。

Okay, got it.

好，知道了。

That's helpful.

這很有幫助。

And then maybe sticking with you the on the die-cast space, I know you called it out as a priority going into fiscal '25, but when you think about that market?

然後也許會繼續關注壓鑄領域，我知道您將其作為進入 25 財年的優先事項，但是當您考慮該市場時？

And there is there's quite a bit of competition there already.

而且那裡已經存在相當多的競爭。

Maybe can you just give us a sense of how Ooma is differentiating in that market what your offering has that's about some of the competitors to be able to take share there and then help us understand the timing of when we might start to see maybe an inflection from this die-cast capabilities?

也許您可以讓我們了解 Ooma 如何在該市場上實現差異化，您的產品有哪些，即一些競爭對手能夠在那裡佔據份額，然後幫助我們了解何時開始看到可能的變化從這個壓鑄能力？

Thank you.

謝謝。

Yeah, happy to talk about it on.

是的，很高興談論它。

It's something that has us excited on.

這是讓我們興奮的事情。

We took a big step forward in our acquisition of 2,600 Hertz on this front day have on worked for a number of years on their on CCaaS solution.

我們在收購 2,600 Hertz 的過程中向前邁出了一大步，我們已經在他們的 CCaaS 解決方案上工作了多年。

And I think by middle of this year and that that work will come to fruition, and we'll be able to really leverage in a multimodal way the capabilities they put in place.

我認為到今年年中，這項工作將取得成果，我們將能夠以多模式方式真正利用他們所具備的能力。

There will be a little bit longer before we apply that solution to save my office room and enterprise.

在我們應用解決方案來拯救我的辦公室和企業之前，還需要一段時間。

But, nonetheless, it really opens the door for us to take a big jump forward in a critical part of the market.

但是，儘管如此，它確實為我們在市場的關鍵部分實現大躍進打開了大門。

It's not our intent strategically to build the most complete or extensive CCaaS solution.

我們的策略意圖並不是建立最完整或最廣泛的 CCaaS 解決方案。

We see a lot of customers that need core functionality, where call center and contact center may be a part of what the business does, and they have anywhere from a handful of agents to a greater number.

我們看到很多客戶需要核心功能，其中呼叫中心和聯絡中心可能是業務的一部分，並且他們擁有從少數到更多的座席。

And they want something that works well and fits into the rest of the solution and frankly isn't too expensive.

他們想要一些運作良好並適合解決方案的其餘部分的東西，而且坦率地說不是太貴。

And we think with what we'll do with Ooma Office and Ooma Enterprise will approach the market more from that perspective, that you can think of that a little in a way is a solution that's going to fit a business, you know, wonder, you know, 1,000 employees as opposed to a big mega on contact center implementation.

我們認為，我們對 Ooma Office 和 Ooma Enterprise 所做的事情將從這個角度更接近市場，您可以在某種程度上認為這是一個適合企業的解決方案，您知道，想知道，您知道， 1,000 名員工，而非大規模的聯絡中心實施。

But what we're building on the 26 unheard side and what they will have is quite flexible.

但我們在 26 個聞所未聞的方面所建構的以及他們將擁有的內容非常靈活。

And because of that flexibility and API based design it will do a lot of valuable things, and it will be our possible for anyone was to use that platform to extend it into any spoke applications or extension of it that they want to do.

由於這種靈活性和基於 API 的設計，它將做很多有價值的事情，任何人都可以使用該平台將其擴展到他們想要做的任何分支應用程式或擴充。

So in some ways, it's also a foundation for larger companies and put them too on to get just what they want out of the solution.

因此，在某些方面，它也是大公司的基礎，讓他們也可以從解決方案中獲得他們想要的東西。

So I hope that answers your question on timing is kind of middle of this year and then later this year for Ooma Office and Ooma Enterprise.

因此，我希望回答您關於 Ooma Office 和 Ooma Enterprise 的時間問題是在今年年中，然後在今年晚些時候。

And you can I think I covered that the way we're targeting the market with it yet.

我想我已經介紹了我們針對市場的方式。

That was clear.

這很清楚。

Appreciate.

欣賞。

Appreciate the color.

欣賞顏色。

Thank you.

謝謝。

Thank you.

謝謝。

Please standby for our next question.

請等待我們的下一個問題。

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

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

Yes, thanks for taking my question.

是的，感謝您提出我的問題。

Two things.

兩件事情。

I guess one is can you elaborate a little bit you talked about expecting some churn, I think, with WG. in the first quarter and help quantify the impact that that has.

我想其中一個問題是，您能否詳細說明您談到的關於 WG 預計會出現一些流失的情況。並幫助量化其所產生的影響。

Then two, I'm just kind of curious, given all the backlog ramp that we kind of talked about on the Airedale front, like what you're kind of assuming for that growth for that piece of the business, given us so early stage?

然後兩個，我只是有點好奇，考慮到我們在 Airedale 方面討論過的所有積壓情況，就像你對這部分業務的增長所做的假設一樣，考慮到我們還處於早期階段？

Sure, Josh.

當然，喬許。

So every year for years in working with IWG, they've had some measure of churn, so to speak, I don't tend to think of it so much churn because we serve all of their of their customers.

因此，多年來與 IWG 合作，他們每年都會出現一定程度的客戶流失，可以這麼說，我不認為客戶流失有那麼嚴重，因為我們為他們所有的客戶提供服務。

Now they obviously have customers who leave their centers and other ones that come in and you can view it as churn when one leaves and then maybe as a new user when the next one comes in.

現在，他們顯然有客戶離開他們的中心，也有其他客戶進來，當一個人離開時，你可以將其視為流失，而當下一個客戶進來時，你可以將其視為新用戶。

But we've had some turnover and some reductions on all of through our working with them and in the numbers, we've reported to all of you over the time I've been there.

但是，透過與他們的合作，我們的人員流動率有所下降，並且在數字上有所減少，在我在那裡的這段時間裡，我們已經向大家報告了這一情況。

They've been net of that that on call it, say quarterly of the assignments almost and those numbers tend to run at a certain level and maybe a few thousand a quarter on.

他們已經擺脫了那種隨叫隨到的情況，幾乎每季都有一次作業，這些數字往往會達到一定的水平，也許每季幾千個。

But what should talk about is a bigger adjustment and basically this is a catch-up this is some we've worked with WG. from both sides, our side and their side and help them get a finer analysis done across their full worldwide business of on what lines they need and don't need.

但應該討論的是更大的調整，基本上這是一個追趕，這是我們與 WG 合作的一些調整。從雙方（我們方和他們方）出發，幫助他們對整個全球業務進行更精細的分析，了解他們需要和不需要哪些產品線。

And so we're doing essentially a more or less one-time catch-up adjustment here.

因此，我們基本上在這裡進行了或多或少的一次性追趕調整。

That's a little bit larger than the normal churn we see every quarter and I think Shig talked about it being on the order of

這比我們每季看到的正常流失率要大一些，我認為 Shig 談到的情況是

--

--

Yeah.

是的。

In terms of the numbers, about 20% of what we have with them in the seat count, I think in terms of dollars, we're not going to specifically quantify it, Josh, but I think the we have considered it obviously in our annual revenue guidance range, the impact audit it and also our Q1 guidance because the churn, yes, you heard it like churn is happening in Q1.

就數字而言，大約有 20% 的座位數，我認為以美元計算，我們不會具體量化它，喬希，但我認為我們已經在我們的計劃中顯然考慮到了這一點。年度收入指導範圍、影響審計以及我們的第一季指導，因為流失，是的，你聽說流失發生在第一季。

So we consider the Q1 revenue guidance.

因此，我們考慮第一季的營收指引。

I think the other point I would be, we thought about the impact on net dollar retention rate, we reported 99% and really the strain will just bring it down to 98%.

我認為另一點是，我們考慮了對淨美元保留率的影響，我們報告為 99%，實際上壓力只會將其降至 98%。

Our estimate today when they happen.

我們今天估計它們何時發生。

So, you know, it's not a the 20% is a good number, as I've said, to catch up.

所以，你知道，正如我所說，20% 並不是一個很好的數字。

But impact overall is not that significant, and I think that there's a lot about diverse base of our customers

但整體影響並不那麼顯著，而且我認為我們的客戶群多樣化有很多

Well and as well, we're adding new users with IWG. every month on we have further rollout going now on with them internationally through the first half of this year, at least.

好吧，我們正在透過 IWG 添加新用戶。每個月我們都會在國際上進一步推出，至少到今年上半年都是如此。

And they have quite a ambitious plan, although I probably can't say exactly, but they're pretty ambitious plan for opening new centers around the world as well.

他們有一個非常雄心勃勃的計劃，雖然我可能不能確切地說，但他們在世界各地開設新中心的計劃也是非常雄心勃勃的。

And all of that is growth for us.

所有這些都是我們的成長。

So we're going to see how much we it can offset this and generate additional growth but but we just wanted to call out because it's out of trend this adjustment.

因此，我們將看看它可以在多大程度上抵消這一影響並產生額外的成長，但我們只是想指出，因為這種調整不符合趨勢。

On your other questions about international growth and the assumptions we have in the outlook, I'll make a quick comment on that, and I don't know if she has more to add on.

關於你關於國際成長和我們對前景的假設的其他問題，我將對此做出快速評論，我不知道她是否還有更多補充。

We've chosen in our in our outlook to be conservative on what will happen with their dollar this year.

我們選擇對今年美元走勢持保守態度。

We have not been very good at predicting it and so on.

我們不太擅長預測它等等。

Well, we shared what we can share around the number of deals we closed last quarter and and our continued belief in the business on we are on we're not on trying to forecast something much larger than where we are today until we see those results come through.

好吧，我們分享了我們上季度完成的交易數量以及我們對業務的持續信念，我們不會試圖預測比今天更大的事情，直到我們看到這些結果通過。

Yes, I echo what Eric said that, Josh.

是的，我同意艾瑞克所說的話，喬許。

So I think we learned a lot in the last 18 months on AilDial, particularly the installation timing.

所以我認為我們在過去 18 個月中在 AilDial 上學到了很多東西，特別是安裝時機。

As we said before that when customers are ready to install, we can be there right pretty quick and install and we had some of those quick deals, installation deals in Q4 as well.

正如我們之前所說，當客戶準備好安裝時，我們可以快速到達並安裝，我們在第四季度也有一些快速交易和安裝交易。

We want to be conservative in our guidance and that's what we assumed.

我們希望在指導上保持保守，這就是我們的假設。

And but at the same time, we're still excited about growing pipeline of AirDial.

但同時，我們仍然對 AirDial 頻道的不斷成長感到興奮。

Yes.

是的。

Don't take this outlook as any diminution, if you will, diminution of the pipeline we see for AirDial and the deals we're working, that's as robust as ever.

如果您願意的話，請不要將這種前景視為我們看到的 AirDial 管道和我們正在開展的交易的減少，這與以往一樣強勁。

Yes.

是的。

So, I guess, I'd just classify this as a little bit more like a kind of baseline growth rate assumption, excluding any material traction or success in AirDial?

所以，我想，我只是將其歸類為更像是一種基線成長率假設，排除 AirDial 的任何實質吸引力或成功？

Yeah.

是的。

I mean, you heard our comments.

我的意思是，你聽到了我們的評論。

Yes.

是的。

Yes, appreciate I'll hop back in the queue.

是的，謝謝，我會重新加入隊列。

Thank you.

謝謝。

(Operator Instructions) Brian Kinstlinger with AGP.

（操作員說明）AGP 的 Brian Kinstlinger。

Great.

偉大的。

Thanks so much for taking my questions.

非常感謝您回答我的問題。

It's a question on the guidance.

這是一個關於指導的問題。

If you look at the first quarter's revenue guidance at the midpoint about 9%.

如果你看看第一季的營收指引，中間值約為 9%。

I think if you look at the full year, it's just over 6%.

我想如果你看一下全年，你會發現剛剛超過 6%。

So, it appears the year-over-year growth rates accelerating.

因此，同比增長率似乎在加速。

We think with early installs of AirDial, not going as quickly and rolling out like you said in the second half of year, I would think that coupled with the enterprise customers, a large customer ramping, also coupled with the headwind in the first half of IWG coming out, the 20% that the second half of the year might be faster than the first half of the year.

我們認為，隨著 AirDial 的早期安裝，不會像您在下半年所說的那麼快和推出，我認為，再加上企業客戶、大客戶的增長，再加上上半年的逆風IWG出來了，下半年可能會比上半年快20%。

Could you just kind of reconcile why it appears the growth rate is going to slow in the second half of the year?

您能否解釋一下為什麼下半年成長率似乎會放緩？

Thanks, Hey, Brian.

謝謝，嘿，布萊恩。

I think the, first quarter growth versus second half, here's how I think about it.

我認為，第一季的成長與下半年相比，這是我的看法。

You're right, the midpoint of the guidance implies that 9% year-over-year growth, but do remember that has an impact of inorganic piece of it because last year Q1 or '24, Q1 FY24 doesn't have 2600 Hertz in it.

你是對的，指導的中點意味著 9% 的同比增長，但請記住，這會產生無機部分的影響，因為去年第一季或 24 年、2024 財年第一季沒有 2600 赫茲它。

And so there's an inorganic piece of it.

所以其中有一個無機部分。

So if you take out inorganic piece of it and just look at the organic growth in Q1, I'm looking at about 5% organic growth.

因此，如果你去掉其中的無機部分，只看第一季的有機成長，我會看到約 5% 的有機成長。

And so, but if you go to back half of the year, then you start to have these both years having the 2,600 Hertz.

所以，如果你回顧半年，那麼這兩年的頻率都會達到 2,600 赫茲。

So you naturally see the total revenue growth lower than Q1 unless you consider the inorganic piece of it.

因此，除非您考慮其中的無機部分，否則您自然會看到總收入成長低於第一季。

So that's the reason why you're seeing those number comparison you mentioned.

這就是你看到你提到的那些數字比較的原因。

I do think that the organically, we should see better growth in the second half, especially as we continue to ramp on the AirDial opportunities.

我確實認為，從有機角度來看，我們應該在下半年看到更好的成長，特別是當我們繼續增加 AirDial 機會時。

Again, we're not going to be specific about those AirDial numbers, first half, second half, anything like that.

再次強調，我們不會具體說明這些 AirDial 號碼，前半部、後半部等。

But one main explanation is what I said, just kind of look at the inorganic versus organic growth.

但一個主要的解釋就是我所說的，只是看看無機成長與有機成長。

Got it.

知道了。

Okay.

好的。

And then you mentioned six kinds of areas, I think six of investment and plans for the year on your strategy.

然後你提到了六種領域，我認為六種投資以及今年你的策略計畫。

And if I look at the EBITDA growth, it's about similar to the revenue growth plus or minus.

如果我看一下 EBITDA 的成長，它與營收成長的正負值差不多。

When do you expect the investments to, A, accelerate revenue growth and if it does accelerate revenue growth in the time to come, do you expect to see leverage in the EBITDA margin or you continue do you think in the near-term to reinvest that profit?

您預計這些投資何時會加速收入成長？如果在未來一段時間內確實會加速收入成長，您是否預計會在 EBITDA 利潤率中看到槓桿作用，或者您認為短期內會繼續進行再投資利潤？

Yes.

是的。

So we followed an outlook this year that we've been following in the past, which is to invest in these key new areas of opportunity, while also slowly growing our EBITDA and bottom line.

因此，我們今年遵循了過去一直遵循的前景，即投資於這些關鍵的新機會領域，同時緩慢成長我們的 EBITDA 和利潤。

And we're pretty proud that we're managing to do both, because we do have a lot going on in the company.

我們非常自豪我們能夠做到這兩點，因為我們公司確實發生了很多事情。

We have improvements to Ooma Office and Ooma Enterprise, new verticals we're going to target.

我們對 Ooma Office 和 Ooma Enterprise 進行了改進，這是我們要瞄準的新垂直市場。

We have contact center coming through this year to bring into those solutions.

今年我們設立了聯絡中心來引進這些解決方案。

We have international expansion going on.

我們正在進行國際擴張。

We have further investment this year in AirDial, because we also want to make AirDial available outside of North America.

今年我們對 AirDial 進行了進一步投資，因為我們也希望在北美以外地區也能使用 AirDial。

And to do that, we've got to make some changes in the product which we're working on and will have done this year and on and with the acquisition 26 unheard, there's kind of a one-time effort.

為此，我們必須對我們正在開發的產品進行一些更改，並將在今年和以後進行，並且收購 26 是聞所未聞的，這是一種一次性的努力。

You probably take us a year in all honesty, although we're three or four months into a one-time effort to make 2600 Hertz stronger by the technology and applications we can bring to it from the other side.

老實說，您可能需要我們一年的時間，儘管我們花了三到四個月的時間一次性努力透過我們可以從另一方帶來的技術和應用程式使 2600 赫茲變得更強。

And so there's a lot of a lot going on right now.

所以現在發生了很多事情。

But on as I look forward, which is, I think what your question's about, I think a lot of these on investment areas.

但就我的展望而言，我認為你的問題是關於什麼的，我認為其中很多都是關於投資領域的。

I don't see them needing to continue for years to come on their head.

我不認為他們需要持續多年才能擺脫困境。

We look back to kind of the two, 10 years ago or nine years ago when we went public and the strategy we had and where we wanted to take Ooma.

讓我們回顧一下這兩者，10 年前或 9 年前，當我們上市時，我們制定了策略，以及我們想要將 Ooma 帶到哪裡。

And I know with these things I just mentioned, we are rounding out the kind of company we wanted to be.

我知道，透過我剛才提到的這些事情，我們正在完善我們想要成為的公司。

And so I think that it's always in our hands how much we want to invest in new things versus bring to the bottom line.

因此，我認為，我們想在新事物上投資多少，還是想增加利潤，這始終掌握在我們自己的手中。

But we do have a business model that could bring quite a substantial amount of investment to the bottom line.

但我們確實有一種商業模式，可以為獲利帶來相當大的投資。

But this year still we've got these areas of investment.

但今年我們仍然有這些領域的投資。

One of our goals this year is to turn some of these areas that I just described around from being areas where we invest and don't make much money to start to get more payoff from them, whether that's international or AirDial or even our 2600 Hertz acquisition now.

我們今年的目標之一就是將我剛才描述的一些領域從我們投資但賺不了多少錢的領域轉變為開始從中獲得更多回報，無論是國際還是 AirDial，甚至是我們的 2600 Hertz現在收購。

And, as we do that, I think these new areas will start to contribute very nicely to our overall bottom line.

而且，當我們這樣做時，我認為這些新領域將開始為我們的整體利潤做出非常好的貢獻。

So I think that's the best answer I can give you, but it's a little bit more work to do, but there isn't a big mountain to climb.

所以我認為這是我能給你的最好答案，但還需要做更多的工作，但沒有什麼大山需要翻越。

We know where we're going, and I think we're making good progress.

我們知道我們要去哪裡，而且我認為我們正在取得良好進展。

Thank you so much.

太感謝了。

Thank you.

謝謝。

Thank you.

謝謝。

Matthew Harrigan with Benchmark.

馬修·哈里根（Matthew Harrigan）與 Benchmark。

Eric, you laid out a pretty expansive TAM for AirDial, particularly including Europe and literally tens of millions of lines.

Eric，您為 AirDial 設計了相當廣泛的 TAM，特別是包括歐洲和數千萬條線路。

And clearly, I'm not sure I'd be shutting down the copper lines if I was AT&T, if I'm really charging $400 sometimes even more anecdotally.

顯然，如果我是 AT&T，如果我真的收取 400 美元（有時甚至更高）的費用，我不確定我是否會關閉銅線。

But what are people doing to defer the need to upgrade because clearly these are mission critical.

但是人們正在做什麼來推遲升級的需要，因為顯然這些都是關鍵任務。

And are you seeing more in the way a competition because it is counterintuitive that you've got this gaping need and you've got the best product, okay, and that's our best product features and yet it isn't really taking off.

你是否看到了更多競爭的方式，因為你有這種巨大的需求並且你有最好的產品，這是違反直覺的，好吧，這是我們最好的產品功能，但它並沒有真正起飛。

I mean, this is just a much more glacial process than people thought and notwithstanding the move to fiber or are you actually seeing some competition perhaps in Europe where you said you had to modify the technical specs to get interest from the Vodafone and others over there?

我的意思是，這只是一個比人們想像的更加緩慢的過程，儘管已經轉向光纖，或者您實際上是否在歐洲看到了一些競爭，您說您必須修改技術規格才能引起沃達豐和其他公司的興趣？

Thank you.

謝謝。

Hi, Matthew.

嗨，馬修。

I think that the market is sizable.

我認為市場很大。

And the biggest challenge to our growth is getting awareness of AirDial into the market and getting the customers to consider us.

我們發展面臨的最大挑戰是讓 AirDial 進入市場並讓客戶考慮我們。

And that's where we've been investing.

這就是我們一直在投資的地方。

We've been investing on the direct sales front, something we haven't done as much of as a company.

我們一直在直銷方面進行投資，但作為一家公司，我們在這方面做得還不夠多。

We've been much serving smaller businesses.

我們一直在為小型企業提供服務。

We've been much more marketing in inside sales driven.

我們在內部銷售驅動方面進行了更多的行銷。

But I think that it's in our hands to go seize this opportunity in a bigger way, but we have to do some things different from what we've done in the past.

但我認為，更大程度地抓住這個機會是在我們手中，但我們必須做一些與過去不同的事情。

Resale partners do help, particularly T-Mobile has been a very valuable partner with us, but still have some of the others that we've talked about with you already in the past.

轉售合作夥伴確實有所幫助，特別是 T-Mobile 一直是我們非常有價值的合作夥伴，但仍然有一些我們過去已經與您討論過的其他合作夥伴。

I don't want to though gloss over competition.

我不想掩蓋競爭。

I think there's two or three forms of competition that we run into on some of them cause delay.

我認為我們遇到了兩三種形式的競爭，其中一些會導致延誤。

Some of them are just competition.

其中一些只是競爭。

One is on if we're talking with a larger customer and we're that large that it's not uncommon for the existing provider, those POTS lines to come back in and say I will lower your prices back down just don't do anything and trying to push things out a year and we do run into that.

一個是，如果我們正在與一個更大的客戶交談，而且我們的規模很大，對於現有的提供者來說，這並不罕見，那些POTS 線路會回來說我會降低你的價格，只是不做任何事情，然後試圖把事情推遲一年，但我們確實遇到了這種情況。

Sometimes we've had customers who we thought were going to move forward.

有時，我們認為有些客戶會繼續前進。

As you said, we're going to come back and look at this a year from now because we don't have a burning need now that the pricing's come back down and the networks intact for the moment on, we do have customers where we've they've asked us to come upgrade quite an extensive amount of equipment.

正如您所說，我們將在一年後回過頭來考慮這個問題，因為我們現在沒有迫切的需求，因為價格已經回落並且網路暫時完好無損，我們確實有客戶他們要求我們升級大量設備。

And as we go to do that with them, they discover they didn't know, but they discover that maybe their alarm manufacturer has already made upgrades to some of their alarm panels without them, even knowing it and they actually charge them for the cost of upgrading the actual panel, which is obviously what a lot of these customers want to avoid.

當我們和他們一起做這件事時，他們發現他們不知道，但他們發現也許他們的警報製造商已經在沒有他們的情況下升級了他們的一些警報面板，即使他們知道這一點，他們實際上也向他們收取了成本升級實際面板，這顯然是許多客戶想要避免的。

So, we run into that a little bit.

所以，我們遇到了一點。

And then the third kind of competition that is hardest for us in some ways, with some particularly large customers, they may have another aggregator type provider who does all of the telecom for them as a business.

第三種競爭在某些方面對我們來說是最困難的，對於一些特別大的客戶，他們可能有另一個聚合類型的供應商，為他們提供所有電信業務。

And that aggregator, may not have as good a solution probably doesn't have good solution as Ooma AirDial, but promises, we'll take care of it.

該聚合商可能沒有像 Ooma AirDial 那樣好的解決方案，但承諾我們會處理它。

And it's difficult when you're sailing against someone who has the rest of the customer relationship around the product you're offering.

當你與一個擁有你所提供產品的其餘客戶關係的人競爭時，這就很困難了。

But those are the competitive challenges we face, but honestly, those shouldn't stop us from getting to the goals we've already outlined to you in the past.

但這些是我們面臨的競爭挑戰，但老實說，這些不應該阻止我們實現過去已經向您概述的目標。

There's a sizable market opportunity, and we definitely have by far the best product in the market.

市場機會巨大，我們絕對擁有市場上最好的產品。

And the evidence that I say that with is, my view is we have some of our resell partners were reselling other people's stuff and stopped doing it to come to us because they're having so much problem with other people's stuff.

我所說的證據是，我的觀點是，我們的一些轉售合作夥伴正在轉售其他人的東西，但他們不再這樣做來找我們，因為他們對其他人的東西有很多問題。

And some of our customers are literally ripping out other people's stuff to put ours in because ours is working better for them and the other stuff wasn't working well enough.

我們的一些客戶實際上是把別人的東西拆下來換成我們的，因為我們的東西對他們來說效果更好，而其他的東西效果不夠好。

I think I talked about a customer in our Q3 conference call where we were moving quickly to do that for them.

我想我在第三季的電話會議中談到了一位客戶，我們正在迅速採取行動為他們做到這一點。

We're very proud of the solution we have.

我們對我們擁有的解決方案感到非常自豪。

It's a very good solution in the market, and we just need to continue to pursue it aggressively.

這是市場上非常好的解決方案，我們只需要繼續積極地追求它。

And so that's really what the challenge is still.

所以這確實是挑戰所在。

I hope all that is a little color and helps.

我希望這一切都是一點點色彩並有所幫助。

Thanks.

謝謝。

That makes sense.

這就說得通了。

Thank you.

謝謝。

(Operator Instructions) I'm showing no further questions in the queue.

（操作員說明）我在隊列中沒有顯示任何其他問題。

I would now like to turn the call back over to Eric for closing remarks.

我現在想將電話轉回給埃里克，讓他發表結束語。

Well, thank you for everyone for joining us today.

好的，謝謝大家今天加入我們。

I think we made some great progress in FY24 and sit here today with AirDial and with 2,600 Hertz, really as nice additions to our growth outlook in addition to growing office and enterprise.

我認為我們在 2024 財年取得了一些重大進展，今天坐在這裡，AirDial 和 2,600 Hertz 除了不斷增長的辦公室和企業之外，對我們的成長前景確實有很好的補充。

And so we're excited about what we can do going forward.

因此，我們對未來可以做的事情感到興奮。

With that, let me say thank you for joining us.

在此，我要對您加入我們表示感謝。

Bye, bye.

再見。

Ladies and gentlemen, this concludes today's conference call.

女士們、先生們，今天的電話會議到此結束。

Thank you for your participation.

感謝您的參與。

You may now disconnect.

您現在可以斷開連線。