Optiva (OPT) investor relations material

Executive summary

• Report covers the three and nine months ended September 30, 2025, with all figures in U.S. dollars.

• Revenue for Q3 2025 was $10.1M, down from $12.0M in Q3 2024, with a net loss of $5.7M compared to a $3.4M loss year-over-year.

• Operations focus on monetization and subscriber management solutions for communications service providers, with global reach and SaaS/cloud offerings.

• Gross margin declined to 55% from 58% in the prior year, mainly due to lower high-margin support and subscription revenue and increased lower-margin customizations.

• Adjusted EBITDA loss widened to $3.9M from $0.6M in Q3 2024.

Financial highlights

• Q3 2025 revenue was $10.1M, down from $12.0M in Q3 2024; nine-month revenue was $32.0M, down from $35.1M year-over-year.

• Net loss for Q3 2025 was $5.7M (Q3 2024: $3.4M); nine-month net loss was $12.4M (2024: $15.0M).

• Gross profit for Q3 2025 was $5.5M (Q3 2024: $7.0M); nine-month gross profit was $13.9M (2024: $14.9M).

• Operating expenses increased to $9.3M from $7.2M year-over-year, mainly due to costs related to the announced strategic transaction.

• Cash and cash equivalents at September 30, 2025 were $6.6M, down from $10.2M at December 31, 2024.

Outlook and guidance

• A transaction with Qvantel to acquire all shares and cancel $108.6M in debentures is expected to close in December 2025, subject to conditions.

• If the transaction does not close, refinancing or other financial alternatives will be required, with no assurance of success.

• The company expects gross margins to fluctuate as its cloud-native model and product capabilities are adopted by new and existing customers.