Optiva Inc. Announces Acceleration of Strategic Plan
TORONTO, Jan. 20, 2020 /CNW/ - Optiva Inc. ("Optiva" or the "Company") (TSX:OPT), a leader in providing communications service providers (CSPs) worldwide with cloud-native revenue management software on the public cloud, announced today that it will host an analyst briefing on January 20, 2020, to announce an acceleration of its Strategic Plan. Materials to be shared with analysts can be viewed here: Optiva Analyst Presentation.
Updates include:
- Calendar 2019 revenue will be in the low USD$90 million, with audited figures to be available with the release of the Company's fiscal year-end financial results;
- The Company plans to raise as much as USD$100 million to accelerate investment for the transition to cloud;
- In order to widen our first-mover advantage of the public cloud opportunity, the Company will change from a goal of managing to cash flow break even to a willingness to lose money;
- The Company hopes and plans for the on-premise revenue to shrink to zero over the next ten plus years; and
- The Company may use a portion of the proceeds from the funds raised to redeem a portion of the Company's outstanding Preferred Shares to keep the debt-like instrument balanced with the revenue loss.
Caution Concerning Forward-Looking Statements
Certain statements in this document constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this document, such statements use such words as "may," "will," "expect," "continue," "believe," "plan," "intend," "would," "could," "should," "anticipate" and other similar terminology. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Persons reading this news release are cautioned that such information may not be appropriate for other purposes. Such forward-looking statements include statements respecting the Company's revenue for calendar year 2019; the Company's expectations regarding core on-premise software revenue; the Company plans to change from a goal of managing to cash flow break even to a willingness to lose money; the Company's plans to raise as much as USD$100 million to accelerate investment for the transition to cloud; and the potential that a portion of the proceeds from the funds raised will be used to redeem a portion of the Preferred Shares. These statements are forward-looking as they are based on our current expectations, as at January 20, 2020, about our business and the markets we operate in, and on various estimates and assumptions. Our actual results could materially differ from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statements will materialize. Risks that could cause our results to differ materially from our current expectations are discussed in the Company's most recent Annual Information Form, which is available on SEDAR at www.sedar.com and on Optiva's website at www.optiva.com/investors/. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Optiva does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
About Optiva Inc.:
Optiva Inc. is the leader in providing communication service providers (CSPs) worldwide with cloud-native revenue management software on the public cloud. Operators and MVNOs can integrate our best-of-breed charging engine into a BSS stack or deploy our fully managed, end-to-end, SaaS-based suite. Optiva solutions offer unmatched speed, scale, security and savings. Our market knowledge, analytical insights and unique Customer Success Program ensure telecoms are equipped to achieve their strategic business goals. Established in 1999, Optiva Inc. is on the Toronto Stock Exchange (TSX: OPT). For more information, visit www.optiva.com.
SOURCE Optiva Inc.
Media Inquiries: Kristin Donelson, [email protected]; Investor Relations: Ali Mahdavi, [email protected]
Share this article