Optiva Inc. reported $11.4 million in revenue, BSS upgrade contract secured, AI utilization, potential revenue consistent with 2023.

From GlobeNewswire: 2024-08-08 17:30:00

Optiva Inc. reported revenue of $11.4 million, TCV bookings of $13.2 million, and a gross margin of 56% in Q2 of 2024. The company experienced an adjusted EBITDA loss of $1.7 million and an EPS loss of $0.90. Optiva ended the quarter with $17.1 million in cash.

Optiva secured a full BSS upgrade contract with a key customer in Mexico and extended contracts with other Tier 1 customers. Despite project delays, the Company anticipates revenue consistent with 2023. Optiva demonstrated AI use cases to wireless operators and emphasizes leveraging AI for operational efficiencies.

Optiva’s revenue for Q2 was $11.4 million, with a gross margin of 56%. General and administrative expenses increased to $2.6 million, and adjusted EBITDA decreased to a $1.7 million loss. The company ended the quarter with $17.1 million in cash, including restricted cash.

For more information about Optiva Inc., visit their website at https://www.optiva.com/investors. Optiva was recognized for its Optiva BSS Platform and awarded ISO 27001 certification. The company generated $5.2 million in cash from operating activities in Q2 and was named a finalist in the Most Innovative Telecom Software Product category by Leading Lights.

Optiva Inc. is a leader in cloud-native billing, charging, and revenue management software for the telecom industry. Established in 1999, Optiva’s solutions help service providers maximize digital, 5G, IoT, and emerging market opportunities to achieve business success. The Company continues to innovate and leverage AI to enhance operational efficiencies.



Read more at GlobeNewswire:: Optiva Inc. Reports Second Quarter 2024 Financial Results