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 Inc. (NASDAQ: OSPN) will be participating in two upcoming investor conferences - Oppenheimer 9th Annual Emerging Growth Conference on May 9, 2024, and 19th Annual Needham Technology, Media & Consumer Conference on May 15, 2024. The management team will be hosting virtual and in-person meetings at these conferences, respectively.
OneSpan Inc. (NASDAQ: OSPN) reported strong first quarter financial results for 2024, with revenue up 13% year-over-year to $64.8 million, subscription revenue up 34% to $40.0 million, and ARR up 9% to $154.6 million. The company's gross profit increased to $47.4 million, operating income improved to $14.1 million, and net income was $13.5 million. OneSpan expects revenue to range from $238 million to $246 million for the full year 2024.
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