Welcome to our dedicated page for OneSpan news (Ticker: OSPN), a resource for investors and traders seeking the latest updates and insights on OneSpan stock.
OneSpan Inc. (symbol: OSPN) is a globally recognized provider of cutting-edge information technology security solutions, primarily serving the banking, financial services, and application security markets. The company is dedicated to enabling financial institutions and other organizations to achieve significant advancements in their digital transformation journeys. OneSpan's core business revolves around establishing trust in people's identities, the devices they utilize, and the transactions that shape their daily lives.
Serving over 10,000 customers, including more than half of the top 100 global banks, OneSpan's solutions are trusted to protect some of the world's most important business relationships and processes. The company offers a diversified portfolio of products, such as digital onboarding, fraud mitigation, and workflow management tools, all aimed at reducing costs, accelerating customer acquisition, and enhancing customer satisfaction.
OneSpan's primary product offerings include authentication and anti-fraud solutions, featuring multifactor authentication and virtual private network (VPN) access capabilities. These solutions secure and manage access to digital assets and protect online transactions, whether conducted via mobile devices or in-person.
The company generates revenue from various streams, including hardware and license fees, maintenance and support fees, and subscription fees. The majority of OneSpan's revenue comes from Europe, the Middle East, and Africa, with additional contributions from the United States and the Asia-Pacific region.
OneSpan's recent achievements include numerous partnerships with leading global financial institutions and the continuous enhancement of its unified, open platform. This platform is designed to streamline and secure key business processes, contributing to the company's growth and success in the rapidly evolving digital security landscape.
OneSpan (NASDAQ: OSPN) has appointed Ashish Jain as Chief Technology Officer (CTO). Jain, recognized as a top digital identity expert, will lead OneSpan's global engineering organization and execute the company's innovation strategy. He brings over 20 years of experience, most recently serving as Chief Product Officer at Arkose Labs. Previously, he led eBay's identity engineering team, supporting 180+ million customers, and served as Vice President of Workspace ONE at VMware. Jain was recently named to Okta Ventures' inaugural 'The Identity 25' list for his contributions to identity security. He holds a Bachelor of Engineering from BITS, Pilani, and an MBA from the University of Denver.
OneSpan (NASDAQ: OSPN) announced the initiation of a quarterly cash dividend program. The initial dividend of $0.12 per share will be paid on February 14, 2025 to shareholders of record as of the close of business on January 31, 2025. The Board's approval reflects a commitment to returning capital to shareholders as part of a balanced capital allocation strategy. This decision underscores OneSpan's confidence in its growth potential and future cash generation capabilities. The company will consider additional capital allocation options, including share repurchases, special dividends, increases to the quarterly dividend, organic business investments, and targeted M&A. Future dividends are subject to the Board's discretion.
OneSpan (NASDAQ: OSPN) has announced a strategic integration with Ping Identity through the Ping Identity Integration Directory. The partnership will offer OneSpan's FIDO-enabled solutions to eliminate passwords and enhance authentication security. OneSpan's DIGIPASS FX solutions, which are FIDO2-certified, provide phishing-resistant passkeys for passwordless authentication, reducing human error risks. The integration combines OneSpan's authentication technology with Ping Identity's IAM solutions, focusing on improved user experience while maintaining robust security measures.
OneSpan (NASDAQ: OSPN) has launched new cloud-native integrations with Guidewire InsuranceSuite to accelerate cloud adoption in the P&C insurance sector. The integration enables end-to-end digital workflows through OneSpan Sign's eSignature solution, promising reduced IT costs up to 40% according to McKinsey & Company. The low-code/no-code approach allows easy implementation into existing policy and claim workflows, minimizing developer resource needs. The partnership aims to enhance ROI, automate processes, and improve customer productivity for P&C carriers.
OneSpan (NASDAQ: OSPN) reported Q3 2024 financial results with mixed performance. Total revenue decreased 4% year-over-year to $56.2 million, while subscription revenue grew 29% to $33.6 million. The company achieved significant profitability improvements with operating income of $11.3 million compared to a loss of $4.8 million in the previous year. Digital Agreements revenue increased 18% to $15.4 million, while Security Solutions revenue declined 11% to $40.8 million. The company narrowed its full-year 2024 revenue guidance to $238-242 million and increased Adjusted EBITDA guidance to $65-67 million.
OneSpan Inc. (NASDAQ: OSPN) has announced its plans to release third quarter 2024 financial results after the market close on Wednesday, October 30, 2024. The company will host a conference call at 4:30 p.m. ET on the same day to discuss the results. Investors and analysts can access the call via phone by using a registration link for dial-in details. A live webcast of the conference call will be available on the OneSpan investor relations website, with a replay accessible shortly after the call's conclusion. Participants are encouraged to dial in at least 15 minutes before the start of the call.
OneSpan Inc. (NASDAQ: OSPN) has announced VISION FX, a groundbreaking innovation in phishing-resistant transaction security. This solution combines OneSpan's patented CRONTO® transaction signing with FIDO2 protocols to enhance protection against phishing and account takeover threats. VISION FX offers a secure and user-friendly option for banking customers to log on and execute transactions.
The company also introduced DIGIPASS FX7, a FIDO2-enabled phishing-resistant authenticator designed to mitigate social engineering and account takeover attacks. These innovations come as digital fraud losses are expected to surpass $343 billion globally between 2023 and 2027.
OneSpan's solutions aim to address the increasing cybersecurity risks in the banking sector, providing robust security capabilities with passwordless login and What You See Is What You Sign (WYSIWYS) functionality. The company will showcase VISION FX and DIGIPASS FX7 at the Authenticate conference in Carlsbad, California.
OneSpan Inc. (NASDAQ: OSPN) reported strong financial results for Q2 2024, with total revenue growing 9% year-over-year to $60.9 million. Key highlights include:
- Subscription revenue increased 29% year-over-year to $29.6 million
- Annual Recurring Revenue (ARR) grew 15% year-over-year to $165.3 million
- Net Retention Rate (NRR) of 112%
- Operating income of $7.6 million, compared to a loss of $17.8 million in Q2 2023
- Net income of $6.6 million, or $0.17 per diluted share
OneSpan raised its full-year 2024 guidance, now expecting revenue between $238-$246 million, ARR of $166-$170 million, and Adjusted EBITDA of $55-$59 million.
OneSpan (NASDAQ: OSPN), a leader in digital agreement security, has announced that it will release its second quarter 2024 financial results on August 1, 2024, after the market closes. A conference call to discuss the results is scheduled for 4:30 p.m. ET on the same day.
The live webcast and replay of the conference call will be accessible on the OneSpan investor relations website. Investors and analysts can register for the call to receive dial-in details and are encouraged to join 15 minutes before the start of the call.
OneSpan (NASDAQ: OSPN) has launched the OneSpan Integration Platform, a modern solution enabling effortless eSignature integration into popular applications such as Microsoft Apps, Google Workspace, Salesforce, and Workday. This platform offers a low-code/no-code approach, streamlining implementation without the need for extensive developer resources, thus enhancing business agility, reducing IT costs, and increasing ROI.
The platform supports 1,000+ application integrations with built-in security measures, including encryption and authentication. Future developments will include a self-service marketplace and BYOI features.
The platform aims to mitigate risks, protect data, and automate processes, making business workflows seamless and efficient.
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