Ooni’s Revenue Decreases by 24% but Financial Health Improves

Ooni is the largest and the oldest company in the popular consumer pizza oven space. Despite that, they’ve experienced the same challenges as the rest of the outdoor cooking sector.

Ooni’s financials were recently filed for 2023, and they took quite a hit on revenue for the year. They impressively maintained flat revenue from 2021 to 2022, but it fell off by 24% in 2023 to $194 million. Below is a three-year look at their summary income statement with a currency conversion of 1.23 USD to 1 GBP.