Optiva has published its fourth-quarter financial results for the three-month and full-year period ended December 31, 2021.
“The combination of our business activities, financial performance during Q4 and steady progress throughout the year provided further validation that our efforts towards stabilizing revenues while executing on the early days of our growth strategy are tracking extremely well,” said John Giere, President and Chief Executive Officer of Optiva. “Our R&D and sales teams are working with existing and prospective customers, more so than ever before, to understand, educate and solve for their unique cloud migration needs which have resulted in a significant increase in new bookings and a robust 2022 customer pipeline.”
“As we look to 2022, our strategic path remains very clear. We continue to focus on completing our business stabilization work and pivoting to drive growth through leveraging cloud technology and economics, 5G market adoption and a new focus on software license growth, which are all expected to contribute to top-line and improved gross margin levels in due course.”
- New Bookings in Q4’21 and FY’21 increased twelve-fold and five-fold, respectively to $26 million and $50 million. Regarding our customer wins, we secured both incumbent upgrades (5) and new customers (4) over the year. These wins are a strong endorsement of both our stability and future product direction.
- Optiva enhanced its market position and customer reach by entering into a multi-year partnership with Google Cloud to increase telecom customer success by enabling faster time to innovation, flexible 5G monetization and operational cost savings while driving a strong customer experience. The collaboration allows customers to accelerate their digital transformation and journey to the cloud, private and public, and deployment on the edge with Optiva products available via Google Cloud Marketplace as a SaaS solution.
- Optiva established a second R&D Centre of Excellence in Bengaluru, India, to accelerate telecom BSS innovation. Optiva chose Bengaluru due to its reputation as a thriving technology center and its concentration of global software companies, universities and talent. With a local leadership team already in place, Optiva aims to grow its headcount rapidly with high-caliber engineers across many disciplines.
- Optiva secured four new customer wins and five incumbent cloud upgrades during 2021. For example, Omantel signed a multi-year agreement with Optiva to upgrade Optiva Charging Engine™ to a cloud-native architecture on Omantel’s private cloud. The upgrade represents the next phase of Omantel’s digital transformation strategy to use technology and automation to drive superior customer experience and significantly improve time to market for new services. The upgrade will support new business models for 5G monetization and introduce Optiva Test Framework to reduce deployment time by up to 70%. Omantel will gain platform capabilities to deliver new customer-centric services and expand its customer base across consumer, fixed, broadband and enterprise market segments, supported by Optiva’s platform.
- Certain directors and members of the management team purchased an aggregate of 64,129 common shares of Optiva, representing an aggregate investment of approximately C$1.3 million.