Optiva Inc. reports Q4 2024 financial results with revenue, TCV bookings, and AI technology integration.
From GlobeNewswire: 2025-03-25 17:10:00
Optiva Inc. reported fourth-quarter financial results, including revenue of $12.0 million, TCV bookings of $22.5 million, and a gross margin of 59%. The company also announced a loss of $1.8 million in adjusted EBITDA and an EPS loss of $0.76, with $11.1 million in cash on hand. Optiva highlighted customer wins and upgrades, incorporating agentic AI technology powered by Google’s Gemini models. The company’s MNVO Hubs strategy attracted new and existing customers, leading to increased market recognition. Optiva’s PIK Toggle Notes are set to mature in July 2025, prompting discussions with noteholders for refinancing options and strategic alternatives.
For the year ended December 31, 2024, Optiva reported a total contract value (TCV) of bookings totaling $66.3 million. The company successfully completed a real-time rating and charging transformation project with Omantel and secured agreements with BH Telecom, Afghan Wireless Communication Company (AWCC), and a greenfield operator in sub-Saharan Africa. Optiva also integrated agentic AI technology into its BSS platform and charging engine. Additionally, the company was nominated for the TM Forum Excellence Awards for Excellence in Data & AI Innovation. Furthermore, Optiva strengthened its partnership with BT Group to implement innovative network communication services.
In the fourth quarter of 2024, Optiva reported revenue of $12.0 million, with a gross margin of 59%. Adjusted EBITDA remained at a loss of $1.8 million, and the company had a net loss of $4.7 million. Optiva ended the quarter with $11.1 million in cash, including restricted cash. The company’s financial statements show a net loss for the year of $19.7 million. The Company’s board is actively exploring refinancing options for its PIK Toggle Notes, which mature in July 2025.
Read more at GlobeNewswire: Optiva Inc. Reports Fourth Quarter 2024 Financial Results