07:02 AM EST, 03/07/2024 (MT Newswires) -- Optiva Inc. ( RKNEF ) , powering the telecom industry with cloud-native billing, charging, and revenue management software on private and public clouds, overnight Wednesday reported a fourth-quarter net loss of US$4 million, or US$0.65 per diluted share, wider than a loss of US$1.5 million, or US$0.24 per diluted share, a year ago.

On an adjusted basis, the company reported a loss of US$0.65 per share, wider than a loss of US$0.25 a year ago.

Revenue for the quarter ended Dec. 31, 2023, was US$12 million, down from US$15.1 million a year earlier.

Adjusted EBITDA loss for Q4 was US$1.8 million, as compared with adjusted EBITDA of US$3 million.

The company ended the fourth quarter with a cash balance of US$20.4 million. The company said it used US$0.9 million of cash from operating activities during the quarter.