SCHEDULE: Trigran Investments Reports 8.1% Stake in Ooma Inc.

Trigran Investments, Inc. and a group of individuals have filed an amended Schedule 13G, disclosing a combined beneficial ownership of 8.1% of Ooma, Inc.'s common stock as of September 30, 2025.

Summary

• Trigran Investments, Inc. and a group of individuals (Douglas T. Granat, Lawrence A. Oberman, Steven G. Simon, Bradley F. Simon, and Steven R. Monieson) collectively beneficially own 2,229,212 shares of Ooma, Inc. common stock.
• This represents 8.1% of Ooma, Inc.'s outstanding common stock.
• The group holds shared voting power over 2,073,619 shares and shared dispositive power over 2,229,212 shares.
• The reporting persons certify that the shares were acquired in the ordinary course of business and not for the purpose of changing or influencing control of Ooma, Inc., except for activities related to a nomination under Rule 14a-11.
• This filing is an Amendment No. 5 to a previously filed Schedule 13G.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of a significant passive ownership stake by an institutional investor group. The certification of ordinary course acquisition and lack of intent to influence control suggests stability. The 8.1% stake is notable and generally viewed as a positive signal of institutional confidence, but it's an amendment, so the change from previous filings is unknown from this document alone. A score of 6 reflects a slightly positive signal due to the substantial, stable institutional ownership.

Positives

• A significant institutional investor, Trigran Investments, Inc., and its associated individuals maintain a substantial 8.1% stake in Ooma, Inc., indicating continued confidence in the company.
• The reporting persons certify that the shares were acquired in the ordinary course of business, suggesting a passive investment intent rather than an activist stance to influence control, which can provide stability.

Risks

• The reporting persons disclaim beneficial ownership of the reported shares, except to the extent of their pecuniary interest, which is a standard disclaimer but highlights that direct control over all aspects of the shares may be limited.

Future Outlook

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Management Comments

• The Reporting Person disclaims beneficial ownership of the shares reported in this Schedule 13G, except to the extent of its pecuniary interest.
• By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

This filing indicates continued institutional interest in Ooma, Inc., a company operating in the communications and cloud-based services sector. Such significant passive stakes by investment firms are common across the industry, reflecting long-term investment strategies rather than immediate strategic shifts.

Stakeholder Impact

• Shareholders: The disclosure of a significant 8.1% stake by an institutional group may provide a level of confidence to other shareholders, signaling that a notable investor sees value in Ooma, Inc.
• Management: The certification that the shares were not acquired to influence control suggests that management can continue its current strategic direction without immediate pressure from this specific shareholder group, though the mention of Rule 14a-11 nominations leaves open the possibility of future engagement on board composition.

Key Dates

Recommendation

This Schedule 13G filing primarily serves as a disclosure of a significant, passive ownership stake by Trigran Investments, Inc. and its associated individuals in Ooma, Inc. While an 8.1% stake is substantial and indicates institutional confidence, the filing explicitly states the shares were acquired in the ordinary course of business and not for the purpose of changing or influencing control. As an amendment, it confirms an existing position rather than signaling a new, aggressive investment or divestment. Without additional context on Ooma, Inc.'s financial performance, strategic initiatives, or market valuation, this filing alone does not provide sufficient grounds for a 'buy' or 'sell' recommendation. It reinforces a 'hold' position for investors who may already be invested, as it suggests continued institutional interest without immediate catalysts for significant price movement based solely on this ownership update.

Keywords

Ooma Inc, Trigran Investments, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Shareholder, Investment Adviser, Passive Investment