Core Insights - Optiva Inc. reported its second quarter financial results for the period ending June 30, 2025, highlighting continued growth in bookings and customer acquisition [2][3]. Financial Performance - Revenue for Q2 2025 was $10.3 million, a decrease from $11.4 million in Q2 2024 [11][14]. - Total Contract Value (TCV) bookings for Q2 2025 reached $26.6 million, with a trailing twelve months TCV of $64.3 million [8][9]. - The gross margin for Q2 2025 was 49%, down from 56% in the same period last year, primarily due to lower high-margin support and subscription revenue [14]. - The adjusted EBITDA loss for Q2 2025 was $1.6 million, slightly improved from a loss of $1.7 million in Q2 2024 [11][14]. - The net loss for Q2 2025 was $4.4 million, compared to a net loss of $5.6 million in Q2 2024 [11][14]. Customer Acquisition and Strategic Developments - Optiva secured two new customers in Q2 2025, including a Tier 1 European mobile virtual network operator (MVNO) and a Tier 1 European telecom, bringing the total new customers to 13 over the past two years [3][9]. - A key existing customer, Digitel, renewed its BSS platform support agreement for an additional three years [9]. - Optiva was recognized as a finalist for the Most Innovative Telco AI/ML Product or Solution for the Leading Lights 2025 Awards [10]. Cash Position and Operational Updates - The company ended Q2 2025 with approximately $12.9 million in cash, sufficient to meet working capital commitments for the foreseeable future [5][14]. - Optiva has entered into a 45-day support agreement with 85% of noteholders to negotiate a strategic transaction, with expectations of reaching a binding agreement before the end of the forbearance period [4][19].

Core Viewpoint - Optiva Inc. has entered into a Support Agreement with holders of approximately 85% of its outstanding 9.75% senior secured PIK toggle notes, allowing for a 45-day grace period to negotiate a Potential Transaction [1][2]. Group 1: Support Agreement and Grace Period - The Support Agreement provides a 45-day grace period for Optiva's special committee to negotiate with Noteholders and potential merger partners [2]. - During this grace period, Noteholders have agreed to forbear from exercising their rights related to any payment default on the Notes due July 20, 2025 [2]. Group 2: Financial Position and Operations - Optiva has approximately $12 million in cash as of July 13, 2025, ensuring business continuity and the ability to meet financial commitments [3]. - The company will continue to operate normally, fulfilling commitments to customers, employees, and suppliers during this period [10]. Group 3: Potential Transaction Details - The Potential Transaction involves exchanging the outstanding principal amount of the Notes and accrued interest for a combination of shares and new notes, along with a merger with a strategic third party [4][10]. - Common shareholders of Optiva are expected to receive nominal consideration for their shares in connection with the Potential Transaction [4][10]. Group 4: Repayment and Financial Obligations - The repayment of approximately $108.6 million in principal and $5.2 million in accrued interest due on July 20, 2025, will be addressed as part of the Potential Transaction if reached within the grace period [5]. Group 5: Regulatory and Approval Requirements - Completion of any Potential Transaction will require approval from Optiva's securityholders, court approvals if structured as a plan of arrangement, Toronto Stock Exchange approval, and necessary regulatory approvals [7].

Group 1 - Optiva Inc. announced the election of six new members to its board of directors during the annual meeting of common shareholders [1] - The elected directors include Patrick DiPietro, Lee Matheson, Simon Parmar, Robert Stabile, Barry Symons, and Birgit Troy, with voting results showing a high approval rate ranging from 96.35% to 96.42% [2] - KPMG LLP was re-appointed as the auditor of the Company, with the board authorized to determine the auditor's remuneration [3] Group 2 - Optiva Inc. is a leading provider of cloud-native, AI-powered revenue management software for the telecommunications industry, established in 1999 and listed on the Toronto Stock Exchange [5]

Core Insights - Optiva Inc. reported its first quarter financial results for the period ending March 31, 2025, highlighting a focus on cloud-native billing and revenue management solutions for the telecom industry [2][11]. Business Highlights - Optiva was selected by three existing customers for upgrades and renewals, including a next-generation BSS platform and an Intelligent Network platform upgrade [3][12]. - The company integrated advanced generative AI technology into its BSS and charging solutions, enhancing operational efficiency and customer experience [4][12]. - Optiva's partnership with BT Group was strengthened to implement innovative communication services, leveraging Optiva's latest Application Server [9]. Financial Performance - Revenue for Q1 2025 was $11.6 million, a slight decrease from $11.7 million in Q1 2024 [10][13]. - The company reported a net loss of $2.3 million, an improvement from a net loss of $6.0 million in the same period last year [10][14]. - Adjusted EBITDA for the quarter was $0.5 million, compared to a loss of $2.3 million in Q1 2024 [10][14]. - Gross margin increased to 64% from 58% year-over-year, attributed to higher support and subscription revenue [13]. Cash Position - As of March 31, 2025, Optiva had a cash balance of $8.0 million, down from $12.0 million at the end of Q1 2024 [10][14]. - The company is actively engaged with strategic third parties regarding its $108 million Secured Notes maturing on July 20, 2025, with over 75% of noteholders committed to support [5][6].