Mr. Rob Stabile reports

OPTIVA REPORTS PRELIMINARY FOURTH QUARTER AND FULL YEAR 2023 REVENUE, AND PROVIDES GROWTH OUTLOOK FOR 2024

Optiva Inc. has preliminary revenue for the fourth quarter of approximately $12.0-million and full-year revenue for 2023 of approximately $47.5-million. Financial results for the fourth quarter and for the full year will be reported and filed on SEDAR+ on or about March 6, 2024. All figures are in U.S. dollars, unless otherwise expressed.

Throughout 2023, Optiva aggressively focused on the innovation introduced into the telecom industry by new market entrants. These companies are seeking cloud-native business support systems (BSS) software that improves the customer experience and accelerates time to market combined with trusted industry experience. The strategy has resulted in seven new customers that selected Optiva in 2023, with three new customers in the fourth quarter.

In light of the new customer wins, Optiva is providing a preliminary revenue growth outlook for 2024 of at least 10 per cent compared with 2023, reflecting the seven new customer wins and upgrading of existing customers. These new revenue streams are expected to more than offset lost revenue from known customer churn. The company did not receive any material customer cancellation notices in the past 12 months, while the pipeline continues to be robust, with approximately 75 per cent of bookings expected to come from new customers in 2024.

The company has also accepted the resignation of one of its board members, John Meyer, effective Jan. 15, 2024. Mr. Meyer has served as an independent member of the board since 2020.

"On behalf of the entire board of directors, we would like to thank John for his significant contributions and valuable guidance during his tenure on the board," said Rob Stabile, chief executive officer and chairman of the board of Optiva.

About Optiva Inc.

Optiva is a leader in powering the telecom industry with cloud-native billing, charging and revenue management software on private and public clouds. Its products are delivered globally on the private and public cloud. The company's solutions help service providers maximize digital, 5G, IoT (Internet of Things) and emerging market opportunities to achieve business success. Established in 1999, Optiva is on the Toronto Stock Exchange.

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