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OneSpan Inc. reports developments tied to its cybersecurity and digital agreement businesses, including financial results, subscription revenue trends, product integrations and portfolio expansion. Its solutions cover high-assurance authentication, identity verification, fraud prevention, mobile app protection, secure e-signatures and smart digital forms for digital transactions and agreement workflows.
Company updates also include passwordless authentication capabilities such as FIDO2 security keys, passkeys, mobile biometrics and adaptive authentication, along with OneSpan Sign integrations and completed acquisitions such as Build38, which added mobile application protection and cloud-driven threat intelligence to the cybersecurity portfolio.
OneSpan (NASDAQ: OSPN) has appointed Eric Hanson as the new Chief Marketing Officer, bringing over 30 years of experience in marketing, sales, and product development. Previously CMO at Fuze, Hanson was instrumental in realigning strategies to enhance market opportunities. His background includes co-founding and leading SPY Visual Effects, where he drove significant growth through notable campaigns. President and CEO Matthew Moynahan expressed confidence in Hanson's ability to evolve OneSpan's brand and strengthen its market position.
OneSpan Inc. (NASDAQ: OSPN) reported its Q4 2021 financial results, showing a 12% increase in revenue year-over-year to $59.2 million. Recurring revenue also saw a 4% growth to $31.6 million. However, the annual performance showed a 1% revenue decline to $214.5 million. The company reported a Q4 net loss of $13.8 million, compared to a $1.8 million loss in Q4 2020. Despite challenges, the company anticipates revenue for 2022 to meet or exceed 2021 levels and aims for adjusted EBITDA to be break-even or better.
OneSpan Inc. (NASDAQ: OSPN) will release its fourth quarter and fiscal year 2021 financial results on February 22, 2022, after market close. The conference call for discussing these results is scheduled for the same day at 4:30 p.m. ET, with a live webcast available on the OneSpan Investor Relations website. Investors are encouraged to access the call early, using designated dial-in numbers. OneSpan specializes in digital identity verification solutions, helping to reduce digital fraud for numerous global financial institutions.
OneSpan Inc. has appointed Tom Aurelio as Chief People Officer, effective immediately. With over 30 years of experience in leadership roles at Symantec, Priceline.com, and Criteo, Aurelio aims to enhance talent management and drive growth for OneSpan. CEO Matthew Moynahan emphasized the importance of talent in the company's growth strategy. Aurelio's prior achievements include scaling HR functions to support rapid company growth, which is critical for OneSpan's ongoing journey in digital identity verification and e-signatures.
OneSpan has released its second annual Global Financial Regulations Report, highlighting the impacts of forthcoming regulations on digital currencies and the security of digital economies. According to the report, 48% of financial institutions report that regulatory compliance has hindered digital transformation. Notably, 84% of banking leaders are preparing for Central Bank Digital Currency initiatives, while top compliance challenges include cyber-attack prevention (53%) and safeguarding sensitive data (47%). The report covers major regulatory developments across 54 jurisdictions.
OneSpan Inc. (NASDAQ: OSPN) announced the appointment of Matthew Moynahan as President and CEO effective November 29, 2021. Previously CEO at Forcepoint, he is recognized for transitioning the company to a cloud-consumption model and achieving record growth. With over two decades in technology and cybersecurity, Moynahan aims to enhance shareholder value and drive revenue growth at OneSpan. Interim CEO Steven Worth will assist in the transition. The Board expressed confidence in Moynahan's leadership for upcoming business transformations.
OneSpan reported third-quarter 2021 results, achieving total revenue of $52.3 million, a 2% year-over-year increase, driven by a 38% rise in recurring revenue to $30.5 million. Annual Recurring Revenue (ARR) also grew 24% to $119 million. Despite a GAAP net loss of $1 million and an operating loss of $2 million, the company has raised its revenue guidance for 2021, now anticipating $209-$213 million. Adjusted EBITDA is expected to improve, ranging from negative $6 million to negative $8 million.
OneSpan Inc. (NASDAQ: OSPN) is set to release its Q2 2021 financial results after market close on November 2, 2021. The company will host a conference call that same day at 4:30 p.m. ET to discuss the results, with a live webcast available on their Investor Relations website. OneSpan specializes in digital banking security and e-signatures, aiming to reduce digital transaction fraud for major global banks and financial institutions.
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OneSpan (NASDAQ: OSPN) has been selected by BankID to secure Norway’s digital identity through cloud-based authentication and anti-fraud solutions. This partnership aims to enhance the user experience and bolster security for the widely utilized BankID mobile application. The integration of OneSpan’s Mobile Security Suite, Application Shielding, and Cloud Authentication will protect users and improve scalability. BankID is crucial for secure online transactions, and this modernization reflects Norway's commitment to digital innovation.