OPENX SOFTWARE LIMITED

Company number

06038906

Status

Active

Incorporation

2007-01-02

Last accounts made up

2024-12-31

Account category

GROUP

Primary SIC

62020

Hubs

UK AI & Enterprise SaaS

Accounting basis

FRS 102

Reporting scope

Consolidated (group)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Management regularly prepares and updates financial forecasts. The group has prepared long-range forecasts that include cash flow, borrowing, and covenant compliance forecasts for the period to 31 December 2026. These updated forecasts demonstrate that the group's cash on hand, future cash generation, and availability under its current line of credit will be more than sufficient to ensure the group and parent company is a going concern for the period to 31 December 2026, which is for at least the next 12 months. The group's line of credit, is set to mature in January 31, 2027. In addition, the group's current forecasts demonstrate that it will have ample headroom under its covenant requirements to ensure it will not trigger any defaults under its line of credit. Additionally, management prepares various downside sensitivity analyses, as well as a worst-case scenario that would result in a breach of financial covenant compliance, and management and the directors deem those scenarios implausible. Based on this, the directors are satisfied that there are no going concern issues, and they continue to adopt the going concern basis of accounting in preparing the financial statements.”

Subsidiaries

• OpenX Limited · 100% held · England · Software services
• OpenX Technologies, Inc. · 100% held · CA · Software services
• OpenX Japan KK · 100% held · Tokyo · Software services
• OpenX GmbH · 100% held · Germany · Software services
• Rhodes Merger Sub II, Inc. · 100% held · DE · Software services
• OpenX Poland sp. z.o.o. · 100% held · Poland · Software services
• OpenX Pte. Limited · 100% held · Singapore · Software services
• OpenX Australia PTY Limited · 100% held · NSW · Software services

Significant events

• “On 28 Feb 2025 and 02 May 2025 the Company granted 0.8 million and 0.7 million, respectively, options to purchase ordinary shares with a weighted average exercise price of $0.26 per share. In addition, on 1 March 2025, the Company issued 0.6 million restricted stock units with a weighted-average grant date fair value of $0.26 per share. The vesting of the restricted stock units is contingent upon both a service vesting component and a liquidity event vesting component.”
• “On 1 April 2025, the Company established a wholly-owned subsidiary, OpenX Mexico S.A. de C.V., incorporated in Mexico. The new entity was formed to support the Company's planned expansion into the Latin American market and will initially focus on providing sales and customer support services to regional clients.”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers