Announcement • Jan 03
The Common Shares of Optiva Inc. to Be Delisted from the Toronto Stock Exchange On December 31, 2025, Optiva Inc. completed its previously announced statutory plan of arrangement under section 192 of the Canada Business Corporations Act (the "Arrangement") with Qvantel Oy (the "Purchaser"), pursuant to which the Purchaser acquired all of the issued and outstanding common shares of Optiva (the "Common Shares"). As a result of the completion of the Arrangement, the Common Shares are expected to be delisted from the Toronto Stock Exchange within two business days of closing. In connection with the implementation of the Arrangement, Optiva was dissolved in accordance with the Canada Business Corporations Act and ceased to be a reporting issuer. Announcement • Jan 01
Qvantel Finland Oy completed the acquisition of Optiva Inc. (TSX:OPT) from Maple Rock Capital Partners Inc. and others. Qvantel Finland Oy entered into an arrangement agreement to acquire Optiva Inc. (TSX:OPT) from Maple Rock Capital Partners Inc. and others for CAD 1.6 million on September 26, 2025. The Shareholders will receive $0.25 per Optiva Share. Upon closing of the Transaction, it is expected that the Optiva Shares will be delisted from the TSX and that Optiva will cease to be a reporting issuer under applicable Canadian securities laws. In case of termination, Optiva shall pay Qvantel Finland Oy $5 million (CAD 70.1 million).
Completion of the Transaction is subject to customary conditions, including, among others, court approval, approval of holders of Optiva Shares and holders of PIK Notes and the approval of shareholders of Qvantel. The transaction has been approved by the target shareholders unanimously. The transaction will be completed in December 2025. As of November 27, 2025, the shareholders of Optiva and the holders of PIK Notes have approved the proposed plan of arrangement.
The team of Bennett Jones LLP led by Kristopher Hanc, Philip B. Ward, David S. Rotchtin, Talia K. Bregman, Matthew Flynn and Daniel P. Tessaro are acting as legal advisor to the Special Committee and Optiva. Raymond James is acting as financial advisor and fairness opinion provider to the Special Committee and Optiva. Tim McCormick and Joe Zed of Borden Ladner Gervais LLP and Eversheds Sutherland (International) LLP are acting as legal advisors to Qvantel. The team of Borenius Attorneys Ltd led by Janko Lindros, Niina Nuottimäki and Juho Keinänen acted as legal advisor to Optiva Inc. Holland & Knight LLP acted as legal advisors to the Special Committee and Optiva.
Qvantel Finland Oy completed the acquisition of Optiva Inc. (TSX:OPT) from Maple Rock Capital Partners Inc. and others on December 31, 2025. Reported Earnings • Nov 09
Third quarter 2025 earnings released: US$0.91 loss per share (vs US$0.54 loss in 3Q 2024) Third quarter 2025 results: US$0.91 loss per share (further deteriorated from US$0.54 loss in 3Q 2024). Revenue: US$10.1m (down 16% from 3Q 2024). Net loss: US$5.68m (loss widened 69% from 3Q 2024). Announcement • Sep 27
Qvantel Finland Oy entered into an arrangement agreement to acquire Optiva Inc. (TSX:OPT) for CAD 1.6 million. Qvantel Finland Oy entered into an arrangement agreement to acquire Optiva Inc. (TSX:OPT) for CAD 1.6 million on September 26, 2025. The Shareholders will receive $0.25 per Optiva Share. Upon closing of the Transaction, it is expected that the Optiva Shares will be delisted from the TSX and that Optiva will cease to be a reporting issuer under applicable Canadian securities laws. Completion of the Transaction is subject to customary conditions, including, among others, court approval, approval of holders of Optiva Shares and holders of PIK Notes and the approval of shareholders of Qvantel. The transaction has been approved by the target shareholders unanimously. The transaction will be completed in December 2025. Bennett Jones LLP are acting as legal advisor to the Special Committee and Optiva. Raymond James is acting as financial advisor and fairness opinion provider to the Special Committee and Optiva. Borden Ladner Gervais LLP and Eversheds Sutherland (International) LLP are acting as legal advisors to Qvantel. Reported Earnings • Aug 14
Second quarter 2025 earnings released: US$0.71 loss per share (vs US$0.90 loss in 2Q 2024) Second quarter 2025 results: US$0.71 loss per share (improved from US$0.90 loss in 2Q 2024). Revenue: US$10.3m (down 10.0% from 2Q 2024). Net loss: US$4.42m (loss narrowed 21% from 2Q 2024). Buy Or Sell Opportunity • Jul 04
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.0% to CA$1.47. The fair value is estimated to be CA$1.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Meanwhile, the company became loss making. Board Change • Jul 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. Independent Director Birgit Troy was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Buy Or Sell Opportunity • Jun 12
Now 40% overvalued Over the last 90 days, the stock has fallen 11% to CA$2.66. The fair value is estimated to be CA$1.90, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Meanwhile, the company became loss making. Announcement • May 29
Optiva Inc., PlektonLabs and Qeema Showcase How APIs and Dynamic Pricing Transform Telecom Monetization At DTW Ignite Optiva Inc. and Qeema announced a collaboration on a TM Forum Open Innovation Catalyst project to be showcased at DTW25 Ignite in Copenhagen June 17-19. The project, INFINITY: Unlocking revenue with APIs & dynamic pricing, introduces an innovative dynamic pricing solution. As cloud computing and AI advance rapidly, customers expect personalized, high-quality, on-demand services. INFINITY provides pricing flexibility that enables real-time adaptability, allowing telecom companies to meet diverse customer needs and changing consumption patterns. This approach satisfies evolving demands and creates new revenue streams to help telecoms stay competitive. Traditional static pricing models limit operators' ability to maximize their 4G and 5G network capabilities, resulting in underutilized bandwidth and lost revenue. In contrast, dynamic pricing allows operators to adjust prices in real time based on network utilization and service demands, capitalizing on the advanced features of network slicing. During low utilization, operators can offer discounted or promotional slices to optimize resource allocation and increase revenue. During high network usage, it allows for monetization of premium network resources, offering enhanced services or dedicated slices at higher prices. This approach increases revenue while meeting user demands for network capacity and features, offering on-demand boosts at additional costs and unlocking significant upside revenue potential. INFINITY leverages proven industry standards, TM Forum's Open Digital Architecture (ODA) framework and Open APIs, and uses real-time network telemetry and GenAI-driven chatbots to deliver dynamic pricing capability. It allows customers, partners and cooperations to request QoD services, paying only for what they use, when they use it, optimizing network capacity and delivering premium, customer-centric user experiences. Operators can unlock untapped potential, address variable demand and leverage the solution's real-time adaptability for ongoing revenue growth. Key Benefits of INFINITY: Enables dynamic pricing: Adapts pricing to real-time demand, customer needs and network capabilities and resources. Generates new revenue streams: Monetizes API ecosystems and tailored packages for B2B2C. Optimizes costs: Maximizes and prioritizes network capacity, aligning with customer intent and experience. Accelerates dynamic pricing with AI: Simplifies API discovery and easy adoption to use new CAMARA APIs on an AI-driven portal and supports dynamic quote management for easy monetization and real-time ordering. INFINITY showcases how collaborative design and real-world integration unlock measurable value from dynamic pricing and API ecosystems. This Catalyst proves that monetization isn't just about technology, it's about how seamlessly it fits into operations and delivers outcomes at scale," said Ahmed Soliman, Chief Commercial Officer at Qeema. The Catalyst project, INFINITY: unlocking revenue with APIs & dynamic pricing. Reported Earnings • May 15
First quarter 2025 earnings released: US$0.38 loss per share (vs US$0.98 loss in 1Q 2024) First quarter 2025 results: US$0.38 loss per share (improved from US$0.98 loss in 1Q 2024). Revenue: US$11.6m (down 1.0% from 1Q 2024). Net loss: US$2.34m (loss narrowed 61% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 22 percentage points per year, which is a significant difference in performance. Announcement • Apr 15
Optiva Inc., Annual General Meeting, Jun 25, 2025 Optiva Inc., Annual General Meeting, Jun 25, 2025. New Risk • Mar 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$12.7m (US$8.89m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (38% average weekly change). Negative equity (-US$57m). Market cap is less than US$10m (CA$12.7m market cap, or US$8.89m). Reported Earnings • Mar 26
Full year 2024 earnings released: US$3.17 loss per share (vs US$1.98 loss in FY 2023) Full year 2024 results: US$3.17 loss per share (further deteriorated from US$1.98 loss in FY 2023). Revenue: US$47.1m (flat on FY 2023). Net loss: US$19.7m (loss widened 61% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Announcement • Feb 12
Optiva Inc. Launches Agentic AI for Telecom BSS, Powered by Google’s Gemini Models Optiva Inc. announced that its BSS platform and charging engine now incorporate agentic AI using advanced generative AI (GenAI) technology powered by Google’s Gemini models. While chatbots are limited to queries and prompts, agentic AI has “agency,” with the ability to act autonomously and independently, adapt, complete complex tasks, make decisions and proactively achieve objectives. Optiva’s agentic AI-powered BSS will enable communication service providers (CSPs) to achieve measurably improved outcomes by enhancing operational efficiency, cost savings, customer experience and business productivity. The agentic AI platform is already being used in digital BSS transformations by Optiva customers in the Middle East and the Americas. The quickly maturing technology can drive huge productivity gains and add trillions in economic value to the global economy. McKinsey cites customer operations (improving customer and agent experiences) and sales (boosting personalization, content creation, and productivity) as the top areas for driving GenAI revenue, with AI agents being the next frontier. Optiva’s agentic AI-powered BSS and virtual AI agents, integrated with the Optiva BSS Platform and Optiva Charging Engine, enable intelligent process automation, hyper-personalized customer experiences and faster resolution times for CSPs. By leveraging Google’s Gemini models, these AI agents enhance natural language understanding, proactive customer engagement and intelligent automation, reducing OPEX and accelerating time to market. Gemini models also power real-time insights using BigQuery and Looker, helping CSPs optimize and create innovative offerings, improve usage and billing transparency and drive new revenue streams, ensuring they stay competitive in an evolving telecom landscape. Key returns on investment (ROI) and benefits of Optiva's agentic AI BSS ecosystem include: Enhanced Customer Experience: Customer care AI agent Amica can automate customer queries and cases, significantly improving resolution times and customer satisfaction. Comprehensive automation also streamlines processes from customer onboarding to support delivering a superior customer experience. Increased Operational Efficiency: Operations management AI agent Kairos proactively enhances operational efficiency, delivering a reduction in ticket resolution time and manual efforts. This enables operators to address critical issues faster and optimize resources allocation. Hyper-Personalized Engagement: Sales AI agent Sophos empowers CSPs to engage customers with hyper-personalized offers and plans, improving sales efficiency and fostering customer loyalty. Reported Earnings • Nov 10
Third quarter 2024 earnings released: US$0.54 loss per share (vs US$0.68 loss in 3Q 2023) Third quarter 2024 results: US$0.54 loss per share (improved from US$0.68 loss in 3Q 2023). Revenue: US$12.0m (up 2.1% from 3Q 2023). Net loss: US$3.35m (loss narrowed 20% from 3Q 2023). Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 09
Second quarter 2024 earnings released: US$0.90 loss per share (vs US$0.21 loss in 2Q 2023) Second quarter 2024 results: US$0.90 loss per share (further deteriorated from US$0.21 loss in 2Q 2023). Revenue: US$11.4m (up 2.7% from 2Q 2023). Net loss: US$5.60m (loss widened 333% from 2Q 2023). Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Software industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Reported Earnings • May 12
First quarter 2024 earnings released: US$0.98 loss per share (vs US$0.45 loss in 1Q 2023) First quarter 2024 results: US$0.98 loss per share (further deteriorated from US$0.45 loss in 1Q 2023). Revenue: US$11.7m (down 7.5% from 1Q 2023). Net loss: US$6.03m (loss widened 117% from 1Q 2023). Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has fallen by 40% per year, which means it is performing significantly worse than earnings. Announcement • May 11
Optiva Inc. Provides Revenue Guidance for the Year 2024 Optiva Inc. provided revenue guidance for the year 2024. For the year, the company is confident it will achieve its year-over-year revenue growth target of at least 10%. Reported Earnings • Mar 08
Full year 2023 earnings released: US$1.98 loss per share (vs US$0.12 profit in FY 2022) Full year 2023 results: US$1.98 loss per share (down from US$0.12 profit in FY 2022). Revenue: US$47.5m (down 23% from FY 2022). Net loss: US$12.3m (down US$13.0m from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Announcement • Mar 08
Optiva Inc. Provides Earnings Guidance for the Year 2024 Optiva Inc. provided earnings guidance for the year 2024. For the year, company expects revenue growth of at least 10%. Reported Earnings • Nov 11
Third quarter 2023 earnings released: US$0.68 loss per share (vs US$0.14 profit in 3Q 2022) Third quarter 2023 results: US$0.68 loss per share (down from US$0.14 profit in 3Q 2022). Revenue: US$11.7m (down 23% from 3Q 2022). Net loss: US$4.18m (down US$5.05m from profit in 3Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Announcement • Sep 23
Optiva Inc. announced that it expects to receive $13.5 million in funding from EdgePoint Investment Group Inc. Optiva Inc. announced that it has entered into a commitment letter with returning investor EdgePoint Investment Group Inc. to issue additional 9.75% secured PIK toggle non-convertible notes due June 2025 in an aggregate principal amount of up to $13,500,000 on September 21, 2023. The notes consist of investor's commitment of up to $12,825,000 principal amount of notes and an upfront fee of $675,000 payable by the company to investor through the issuance of additional Notes. The transaction is expected to close, subject to customary closing conditions, on or about September 29, 2023. EdgePoint Investment Group Inc. owns or controls more than 10% of the company's issued and outstanding common shares. Announcement • Sep 14
Optiva Inc. Announces Launch of Next-Generation Optiva Charging Engine Optiva Inc. announced the launch of its next-generation converged Optiva Charging Engine, the latest advancement in the Company's billing and charging portfolio. The new release features AI-based personalization to enable real-time digital customer experiences. The next-generation version also integrates an Open API gateway, including support for customer and product management with TM Forum Open APIs. It offers best-of-breed architecture for seamless automation of customerflows throughout the BSS stack and for processes -- from product creation to smart selling and AI closed-loop feedback for aligning product configurations and customer purchases. The new Optiva Charging Engine release delivers convergent rating and charging capabilities that empower telecom operators, especially new market entrants focused on digital customer experience and rapid time to market, to create elevated customer offerings and new revenue streams. Key platform benefits to operators include: AI platform integration to identify product and usage behaviors, automatic adaptation of product configuration and upsell management; Personalization of products during real-time usage of services, enabling cross-selling, usage shocks and contextual services; Ease of integration based on APIs enabled by TM Forum API 620 and 637 for product and bundle data; Google Analytics powered data usage repository for customer behavior insights, fine-tuning products and automation processes for superior customer experience. To support the success of Optiva's customers, spanning more than 50 countries and actively investing in 5G technology upgrades, the next-generation Optiva Charging Engine release fulfills the expectations of the new generation of consumer and enterprise customers. It delivers flexibility through immediate and easy adaptation and prevents the traditional delays of legacy platforms. The new features are essential for meeting today's and future market demands while reducing OPEX with automation across all life cycles. Reported Earnings • Aug 15
Second quarter 2023 earnings released: US$0.21 loss per share (vs US$0.08 loss in 2Q 2022) Second quarter 2023 results: US$0.21 loss per share (further deteriorated from US$0.08 loss in 2Q 2022). Revenue: US$11.1m (down 28% from 2Q 2022). Net loss: US$1.29m (loss widened 163% from 2Q 2022). Revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has fallen by 53% per year, which means it is significantly lagging earnings. Buying Opportunity • Jul 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 65%. The fair value is estimated to be CA$7.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Meanwhile, the company became loss making. Announcement • May 24
Optiva Inc. Appoints Michele Campriani as Chief Revenue Officer Optiva Inc. announced the appointment of Michele Campriani as Chief Revenue Officer (CRO). Campriani has a proven track record in leading successful businesses and sales teams in the telecom industry. Campriani brings 30 years of industry knowledge and experience in strategic planning, sales and operations. He has held C-level and executive roles at Mobileum, Comptel, Empirix, Accanto Systems, Hewlett Packard and others. As CRO, Campriani will lead Optiva's global sales and marketing organization to develop and execute growth plans and business strategies. Further, as an executive leadership team member, he will help steer strategic planning initiatives that will guide market and roadmap direction as well as pursue new market opportunities to drive profitable growth. Reported Earnings • May 11
First quarter 2023 earnings released: US$0.45 loss per share (vs US$0.30 profit in 1Q 2022) First quarter 2023 results: US$0.45 loss per share (down from US$0.30 profit in 1Q 2022). Revenue: US$12.7m (down 22% from 1Q 2022). Net loss: US$2.78m (down 251% from profit in 1Q 2022). Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 09
Full year 2022 earnings released: EPS: US$0.12 (vs US$3.12 in FY 2021) Full year 2022 results: EPS: US$0.12 (down from US$3.12 in FY 2021). Revenue: US$61.8m (down 5.3% from FY 2021). Net income: US$709.0k (down 96% from FY 2021). Profit margin: 1.1% (down from 28% in FY 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Board Change • Feb 16
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. Independent Chairman of the Board Robert Stabile is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Jan 13
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. Independent Chairman of the Board Robert Stabile is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Nov 16
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. Independent Chairman of the Board Robert Stabile is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: US$0.14 (vs US$0.61 in 3Q 2021) Third quarter 2022 results: EPS: US$0.14 (down from US$0.61 in 3Q 2021). Revenue: US$15.2m (down 9.0% from 3Q 2021). Net income: US$870.0k (down 77% from 3Q 2021). Profit margin: 5.7% (down from 23% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Announcement • Oct 26
Optiva Inc. to Report Q3, 2022 Results on Nov 08, 2022 Optiva Inc. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 08, 2022 Reported Earnings • Aug 11
Second quarter 2022 earnings released: US$0.08 loss per share (vs US$0.22 profit in 2Q 2021) Second quarter 2022 results: US$0.08 loss per share (down from US$0.22 profit in 2Q 2021). Revenue: US$15.4m (down 5.6% from 2Q 2021). Net loss: US$492.0k (down 137% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 3.3%, compared to a 19% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Jul 28
Optiva Inc. to Report Q2, 2022 Results on Aug 09, 2022 Optiva Inc. announced that they will report Q2, 2022 results at 4:00 PM, US Eastern Standard Time on Aug 09, 2022 Announcement • Jun 29
Optiva Inc. Announces Directorate Appointments Optiva Inc. at the AGM approved the elections of Matthew Kirk and Birgit Troy as directors. Reported Earnings • May 12
First quarter 2022 earnings released: EPS: US$0.30 (vs US$3.14 in 1Q 2021) First quarter 2022 results: EPS: US$0.30 (down from US$3.14 in 1Q 2021). Revenue: US$16.1m (flat on 1Q 2021). Net income: US$1.84m (down 89% from 1Q 2021). Profit margin: 11% (down from 104% in 1Q 2021). Over the next year, revenue is forecast to grow 6.3%, compared to a 27% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Board Change • Apr 27
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 1 experienced director. No highly experienced directors. Independent Chairman of the Board Robert Stabile is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 26
Optiva Inc., Annual General Meeting, Jun 27, 2022 Optiva Inc., Annual General Meeting, Jun 27, 2022. Reported Earnings • Mar 10
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$3.12 (up from US$7.81 loss in FY 2020). Revenue: US$65.2m (down 14% from FY 2020). Net income: US$18.5m (up US$60.0m from FY 2020). Profit margin: 28% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 4.2%, compared to a 29% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Mar 01
Optiva Inc. Launches Optiva Charging Engine Private and Public Cloud Edition Optiva Inc. has launched Optiva Charging Engine private and public cloud edition. The new release enables operators that are not ready to move to the public cloud to reap its benefits while on the private cloud and maintain security, control and adherence to regulatory requirements. Two telecom operators, a Tier 1 and Tier 2 in EMEA, are currently transitioning to the new Optiva Charging Engine version on their private clouds. The new release builds upon the previous version's capabilities with the added power and performance of Google Cloud Platform automation tools and site reliability engineering (SRE) methodologies available on the private cloud. This enables operators to access new features and functionalities through a centrally managed approach and have the freedom to experiment, test new services in a fast/fail mode with little risk and put focus on the customer experience. Deployment of BSS in the cloud enables operators to gain advantages of scaling, healing, flexible release management, end-to-end test automation and greater savings on total cost of ownership (TCO). Operators can replace customizations with streamlined product configuration for easy integration and faster time to market. Further, enhanced user experience, customer experience, real-time engagement and customer empowerment are attained through self-serve APIs, open architecture and on-the-fly insights with cloud-based, AI-driven real-time data. Announcement • Feb 25
Optiva Inc. to Report Q4, 2021 Results on Mar 08, 2022 Optiva Inc. announced that they will report Q4, 2021 results After-Market on Mar 08, 2022 Recent Insider Transactions • Dec 02
Independent Director recently bought CA$250k worth of stock On the 30th of November, Anuroop Duggal bought around 13k shares on-market at roughly CA$20.00 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$398k more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improved over the past week After last week's 17% share price gain to CA$23.20, the stock trades at a trailing P/E ratio of 4.8x. Average forward P/E is 73x in the Software industry in Canada. Total loss to shareholders of 50% over the past three years. Recent Insider Transactions • Nov 17
CFO & Corporate Secretary recently bought CA$63k worth of stock On the 15th of November, Ashish Joshi bought around 3k shares on-market at roughly CA$20.00 per share. This was the largest purchase by an insider in the last 3 months. This was Ashish's only on-market trade for the last 12 months. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS US$0.61 (vs US$5.50 loss in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: US$16.7m (down 11% from 3Q 2020). Net income: US$3.78m (up US$33.0m from 3Q 2020). Profit margin: 23% (up from net loss in 3Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS US$0.22 (vs US$2.78 loss in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: US$16.3m (down 18% from 2Q 2020). Net income: US$1.33m (up US$16.1m from 2Q 2020). Profit margin: 8.2% (up from net loss in 2Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Executive Departure • Jun 25
Independent Director Graham P. Gow has left the company On the 22nd of June, Graham P. Gow's tenure as Independent Director ended after less than a year in the role. As of March 2021, Graham P. still personally held 3.00k shares (CA$92k worth at the time). A total of 11 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jun 25
Independent Non-Executive Director Demetrios Anaipakos has left the company On the 22nd of June, Demetrios Anaipakos' tenure as Independent Non-Executive Director ended after 4.4 years in the role. We don't have any record of a personal shareholding under Demetrios' name. A total of 11 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jun 25
Independent Director Andrew Day has left the company On the 22nd of June, Andrew Day's tenure as Independent Director ended after less than a year in the role. We don't have any record of a personal shareholding under Andrew's name. A total of 11 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • May 13
First quarter 2021 earnings released: EPS US$3.14 (vs US$0.15 in 1Q 2020) First quarter 2021 results: Revenue: US$16.1m (down 16% from 1Q 2020). Net income: US$16.7m (up US$15.9m from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Apr 01
Optiva Inc. announced that it expects to receive CAD 25.035 million in funding from EdgePoint Investment Group Inc., Oceanlink Management Ltd., and other investors Optiva Inc. (TSX:OPT) announced a private placement of 834,500 subordinate voting shares at a price of CAD 30 per share for aggregate gross proceeds of approximately CAD 25,035,000 on March 31, 2021. The transaction will include participation from both new and existing institutional investors including EdgePoint Investment Group Inc. All shares to be issued are subject to a hold period of four months and one day from the date of issuance of the shares. The transaction has been conditionally approved by the Toronto Stock Exchange and the shareholders. The company will close the transaction on or about April 8, 2021. Returning investor EdgePoint Investment Group Inc. will subscribe 240,250 shares to hold 29.5% stake on closing from 29.6% stake. Returning investor, OceanLink Management Ltd. will subscribe 236,750 shares to hold 16.6% stake on closing from 14.7% stake. Announcement • Mar 12
Oceanlink Management Ltd., Maple Rock Capital Partners, Inc., Meson Capital Partners LLC and EdgePoint Investment Group Inc. completed the acquisition of 27.78% interest in Optiva Inc. (TSX:OPT) from ESW Capital, LLC. Oceanlink Management Ltd., Maple Rock Capital Partners, Inc., Meson Capital Partners LLC and EdgePoint Investment Group Inc. acquired 27.78% interest in Optiva Inc. (TSX:OPT) from ESW Capital, LLC for $58.9 million on March 1, 2021. The Shares acquired in connection with the ESW Share Sale will be subject to a statutory hold period in Canada of four months and one day from the closing date in accordance with applicable securities laws. OceanLink will have ownership of, or control or direction over, 781,250 Shares, representing approximately 14.7% of the issued and outstanding Shares on a non-diluted basis. The ESW Share Sale is expected to close, subject to satisfaction of all closing conditions, on or prior to March 5, 2021.
Oceanlink Management Ltd., Maple Rock Capital Partners, Inc., Meson Capital Partners LLC and EdgePoint Investment Group Inc. completed the acquisition of 27.78% interest in Optiva Inc. (TSX:OPT) from ESW Capital, LLC on March 10, 2021. The Transaction closed on March 10, 2021, with the effective date of the transfer of Subordinate Voting Shares being March 5, 2021.The total consideration paid by EdgePoint to ESW pursuant to the ESW Share sale was CAD 20,998,971 in cash. EdgePoint acquired 526,290 Shares on March 5, 2021. As a result of the completion of the ESW Share Sale, EdgePoint now exercises control or direction over 1,573,975 Shares, representing approximately 29.6% of the issued and outstanding Shares. Andrew Price and Neeraj Gupta, ESW's board nominees, resigned from the board of directors of Optiva. Announcement • Mar 05
Tele2 Extends its Partnership in Sweden and the Baltics with Optiva Inc Optiva Inc. announced that Tele2 has extended its partnership in Sweden and the Baltics with Optiva. The agreement includes support services and updates for its Optiva Charging Engine™, with an upgrade option to Optiva private-cloud offering, which enables innovative new services and monetizing 5G. With support services, Optiva will be helping Tele2 monetize its mobile customer base across two locations and multiple deployments, and Tele2 will also achieve continued stability for its platform. Analyst Estimate Surprise Post Earnings • Mar 05
Revenue misses expectations Revenue missed analyst estimates by 1.4%. Over the next year, revenue is expected to shrink by 3.8% compared to a 41% growth forecast for the Software industry in Canada. Reported Earnings • Mar 05
Full year 2020 earnings released: US$7.81 loss per share (vs US$2.08 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$75.9m (down 22% from FY 2019). Net loss: US$41.5m (loss widened 277% from FY 2019). Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Mar 03
Optiva Inc. Announces Resignation of Board of Directors Optiva Inc. announced that ESW Capital, LLC has agreed to sell all of its subordinate voting shares of Optiva in a private sale to OceanLink Management Ltd. Conditional on the closing of the Separation Agreement, each of Andrew Price and Neeraj Gupta, ESW's board nominees, have agreed to resign from the board of directors of Optiva. Announcement • Feb 27
Mobily Goes Live with Optiva Payment Solution on Private Cloud Mobily has gone live with the Optiva payment solution on Mobily private cloud. Given Mobily's large customer base, speed, agility and digital-first are priorities for its success. Mobily is recognized by the telecom industry as one of the most innovative and advanced operators in the region. It was the first operator worldwide to launch the 4G (TD-LTE) services commercially. With its move to cloud, Mobily continues its trajectory of innovation in the telecommunications sector. The upgrade to cloud-native technology on the private cloud and a consolidated payment solution platform provides new benefits to subscribers, including online e-vouchers to top up their accounts. It also provides Mobily increased platform performance that will deliver operating expense (OPEX) savings. Announcement • Feb 24
Optiva Inc. Announce the Appointment of Matthew Halligan as Chief Technology Officer Optiva Inc. announced the appointment of Matthew Halligan as Chief Technology Officer. Halligan has a proven track record in leading successful engineering teams, and he has served as an industry thought leader on newly emerging technologies and their impact on the future of 5G mobility. Previously as CTO of Openwave Mobility, he led a world-class engineering team that developed and launched multiple award-winning, innovative products for many Tier 1 mobile operators worldwide, which helped transform Openwave Mobility into an industry category leader. Halligan brings to Optiva 28 years of knowledge and experience in developing and delivering highly scalable and reliable quality software products across bare metal, private cloud and public cloud environments. Is New 90 Day High Low • Feb 12
New 90-day low: CA$34.05 The company is down 23% from its price of CA$44.44 on 13 November 2020. The Canadian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 32% over the same period. Announcement • Feb 10
Optiva Inc. Announces Board Changes Optiva Inc. announced the appointment of Graham Gow to the board of directors of the Company (the ‘Board’), effective February 9, 2021. Mr. Gow replaces Paul Yancich. Graham has been a senior partner at one of Canada's leading law firms for many years. He is a recognized expert in corporate law, corporate finance and mergers and acquisitions for publicly traded companies. Graham currently serves on two other boards of directors. Graham has been nominated to the Board by EdgePoint Investment Group Inc. pursuant to its contractual rights. Executive Departure • Feb 10
Independent Director has left the company On the 9th of February, Paul Yancich's tenure as Independent Director ended after less than a year in the role. We don't have any record of a personal shareholding under Paul's name. A total of 10 executives have left over the last 12 months. Is New 90 Day High Low • Jan 09
New 90-day low: CA$34.42 The company is down 23% from its price of CA$44.94 on 09 October 2020. The Canadian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 21% over the same period. Announcement • Dec 30
Optiva Inc. Establishes A Financing Committee and Announces Board Appointments Optiva Inc. established a financing committee, consisting of independent directors Robert Stabile and Anuroop Duggal, to conduct a process to review and assess, among other things, Optiva's alternatives to complete a financing transaction involving the issuance of subordinate voting shares or other securities of the Company. As part of the Financing Committee's process, it is expected that the Financing Committee will fairly consider in an evenhanded manner any reasonable financing alternatives that may be made available to the Company in accordance with that process, including without limitation from any existing shareholder of the Company or OceanLink Management Ltd. There can be no assurance that any such financing alternatives will be made available to the Company on terms that the Financing Committee considers to be in the best interests of Optiva, or that any financing or other transaction will be completed by the Company. The company also announced that Andrew Price and Neeraj Gupta have been added to the Company's board of directors. Biographies of Messrs. Price and Gupta will be added to the Company's website. Is New 90 Day High Low • Dec 24
New 90-day low: CA$40.98 The company is down 14% from its price of CA$47.90 on 24 September 2020. The Canadian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 30% over the same period. Is New 90 Day High Low • Dec 04
New 90-day low: CA$41.97 The company is down 7.0% from its price of CA$45.00 on 04 September 2020. The Canadian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 16% over the same period. Is New 90 Day High Low • Nov 18
New 90-day low: CA$42.25 The company is down 15% from its price of CA$50.00 on 20 August 2020. The Canadian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is flat over the same period. Announcement • Nov 11
Optiva Inc. announced that it expects to receive CAD 30 million in funding from Oceanlink Management Ltd. Optiva Inc. (TSX:OPT) announced that it has entered into a subscription agreement for a private placement of 750,000 common shares at a price of CAD 40 per share for total gross proceeds of CAD 30,000,000 on November 10, 2020. The participation from new investor, on behalf of certain managed funds for over approximately 12.4% stake of outstanding and issued shares. The closing of the transaction is subject to approval of the Toronto Stock Exchange and customary closing conditions. The transaction is subjected to pending court decision until December 15, 2020. Announcement • Sep 16
ESW Capital, LLC made an offer to acquire the remaining 77.52% stake in Optiva Inc. (TSX:OPT) for approximately CAD 250 million. ESW Capital, LLC made an offer to acquire the remaining 77.52% stake in Optiva Inc. (TSX:OPT) from EdgePoint Investment Group Inc., Maple Rock Capital Partners, Inc. and others for approximately CAD 250 million on July 27, 2020. Under the terms of the transaction, ESW Capital will pay CAD 60 in cash for each share of Optiva. The transaction will be financed through ESW Capital’s existing cash reserves. The transaction is subject to approvals from applicable securities regulators, including the Ontario Securities Commission (OSC) and customary take-up conditions which will include (but not be limited to) a requirement that Optiva has no change to its equity capitalization prior to or as a result of the offer. The offer will not be subject to any financing condition. ESW Capital will not impose a minimum tender condition in the offer. However, applicable securities law requires that at least 50% of the outstanding shares be validly deposited under the offer (Majority of the Minority Requirement). Therefore prior to formally launching the offer, ESW Capital will make an application to the OSC for a hearing to approve an amendment to Majority of the Minority Requirement so that any and all shareholders wishing to participate in the offer will be permitted to sell their shares. The launch of the offer is conditional upon ESW receiving an exemption from the mandatory minimum tender condition imposed under applicable Canadian securities laws that prohibits an offeror from acquiring shares under a take-over bid unless a majority of shares owned other than by ESW (and its affiliates and joint actors) are tendered to such offer. As reported, EdgePoint Investment Group Inc. and Maple Rock Capital Partners, Inc. have no current intention of selling its shares to ESW for CAD 60 per share at this time. The Optiva Board constituted a special committee of independent Directors consisting of Robert Stabile and Andrew Day to review the indicative offer by ESW. As of August 6, 2020, ESW Capital has submitted an application to the OSC for an exemption from the “majority of the minority” requirement and that ESW is committed to the Offer. As of September 15, 2020, Ontario Securities Commission announced, after a hearing of the Commission to consider ESW's application held on September 10 and 11, 2020, that it will not exercise its discretion to grant ESW Capital, LLC relief from the mandatory minimum tender requirement under applicable Canadian securities laws.