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) reported a 1% revenue increase to $52.8 million for Q2 2022, with subscription revenue up 26% at $19.8 million. The company achieved a 21% growth in Annual Recurring Revenue (ARR), reaching $134.3 million, with a dollar-based net expansion rate of 116%. Operating loss narrowed to $8.2 million from $8.9 million year-over-year. However, GAAP net loss increased to $9.4 million, or $0.23 per diluted share. For 2022, OneSpan anticipates revenue to meet or exceed 2021 levels and a 16% - 18% ARR growth.
OneSpan (NASDAQ: OSPN) has been recognized as a Representative Vendor in Gartner's Market Guide for Electronic Signature. This report highlights the growing importance of identity-related functions in e-signatures, emphasizing the need for strong user authentication and compliance in high-risk scenarios. OneSpan's OneSpan Sign offers a secure electronic signature solution leveraging over three decades of security expertise, enhancing customer experience with flexible workflows and enterprise-grade security.
OneSpan Inc. (NASDAQ: OSPN) will release its Q2 2022 financial results after market close on August 2, 2022. A conference call to discuss the results is scheduled for 4:30 p.m. ET on the same day, with a live webcast available on the OneSpan Investor Relations website. Investors can also access the conference via phone, with dial-in numbers provided for both US/Canada and international participants. OneSpan is committed to enhancing digital agreements security, servicing over 60% of the world's largest banks globally.
OneSpan Inc. (NASDAQ: OSPN) has appointed Michael Lillie as Chief Information Officer (CIO), under the leadership of Matthew Moynahan, President and CEO. Lillie brings nearly 30 years of IT and security experience, previously serving at Qlik and Endurance International Group. His expertise in driving enterprise and cloud transformations is expected to bolster OneSpan's infrastructure and security operations, particularly as hybrid work environments become prevalent. Moynahan expressed confidence in Lillie's ability to enhance the company's strategic direction.
OneSpan Inc. (NASDAQ: OSPN) has appointed
OneSpan Inc. (NASDAQ: OSPN) has appointed Lara Mataac as General Counsel and Chief Compliance Officer. Mataac brings nearly two decades of experience in legal, compliance, and corporate governance within technology sectors. Previously, she served as General Counsel at Constant Contact and held pivotal roles in M&A and compliance at Endurance International Group. Her role is crucial as OneSpan embarks on a strategic transformation aimed at enhancing growth and profitability.
OneSpan Inc. (NASDAQ: OSPN) has appointed Michael Klieman as its new Chief Product Officer, focusing on product management, operations, and innovation to boost growth. Klieman, with over 30 years in technology and security, previously led product management at Sophos and MobileIron. His role is part of a broader executive team expansion aimed at enhancing OneSpan's cloud-based services for large enterprise customers globally. CEO Matthew Moynahan emphasized that Klieman's leadership is pivotal for advancing OneSpan's digital agreements strategy.
OneSpan Inc. (NASDAQ: OSPN) is set to detail its strategic growth plan during its Investor Day today at 9:00 a.m. ET. CEO Matt Moynahan and the executive team will present three-year financial targets and growth plans. The company reaffirms its 2022 revenue guidance, expecting to meet or exceed 2021 levels, and plans increased investments in H2 2022 to boost revenue growth starting in 2023. Adjusted EBITDA is projected between
OneSpan (NASDAQ: OSPN) has announced its participation in several investor conferences during Q2 2022, following its Investor Day on May 17, 2022. Key events include the Needham Technology & Media Conference on May 19, the Craig-Hallum Institutional Investor Conference on June 1, and the Cowen Technology, Media & Telecom Conference on June 2. OneSpan's Investor Day will offer insights into its strategic transformation and growth strategy, with webcasting available for broader access. The event focuses on enhancing identity verification and reducing digital fraud.
OneSpan Inc. (NASDAQ: OSPN) reported its first quarter 2022 financial results, with total revenue rising 3% year-over-year to $52.4 million. Recurring revenue saw a significant increase of 22% to $35.2 million, while Annual Recurring Revenue (ARR) grew 21% to $130.7 million. The company achieved GAAP net income of $5.2 million, equating to $0.13 per diluted share. Adjusted EBITDA improved to $0.2 million, a notable recovery from a loss in the previous year. Management anticipates revenue for 2022 will meet or exceed last year's figures, with further details expected at the Investor Day on May 17.
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