Company Achieved 130 Percent Revenue Growth in Fiscal Years 2011-2014
Palo Alto, CA - Friday, November 13th, 2015
Ooma, Inc. (NYSE: OOMA), a leading smart business and home communications platform, was named today as one of the fastest growing companies in North America according to Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America.
Ooma grew its annual revenue by 130 percent between Fiscal Year 2011 and Fiscal Year 2014, using its unique hybrid SaaS platform to capitalize on the trend of both small business and home communications moving to the cloud. Ooma’s superior voice quality and low cost are just some of the differentiators which allowed the company to grow its user base substantially and drive subscription and services revenue growth of 37 percent year-over-year in the second quarter ended July 31, 2015.
“Cloud communications is our core connected service and is the primary growth driver for our business today, said Ooma’s Chief Executive Officer Eric Stang. “Our unique hybrid SaaS platform creates significant competitive advantage in both our communications and other connected services and has shown consistent revenue growth on a year-over-year basis.”
As small business and home communications continue to shift to the cloud, Ooma provides an affordable and innovative hybrid SaaS solution specifically tailored to meet small business and consumer needs – without the complexity or limitations of traditional phone systems. The company’s flagship consumer device, the Ooma Telo, replaces the standard landline with a revolutionary home phone system loaded with features including free calling in the U.S., unparalleled PureVoiceTM HD audio quality, call screening, free mobile app calling from anywhere in the world, and integration with the Nest Learning ThermostatTM. Ranked as the best home phone service for overall satisfaction and value by the readers of a leading consumer research publication for five years running, Ooma continues to offer the ideal combination of innovative features, quality and convenience for consumers and small businesses alike.
About Deloitte’s 2015 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2011 to 2014.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Ooma (NYSE: OOMA) creates powerful connected experiences for businesses and consumers, delivered from its smart cloud-based SaaS platform. For businesses of all sizes, Ooma provides advanced voice and collaboration features that are flexible and scalable. For consumers, Ooma’s residential phone service provides PureVoice HD voice quality, advanced functionality and integration with mobile devices. Ooma’s innovative smart security solution delivers a range of wireless security sensors that make it easy for anyone to protect their home or business. Learn more at www.ooma.com.