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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 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.
OneSpan Inc. (NASDAQ: OSPN), a leader in digital banking security, announced participation in several investor conferences. Key events include:
- Colliers 2021 Institutional Investor Conference on September 9, 2021, featuring John Bosshart and Joe Maxa.
- D.A. Davidson 20th Annual Software & Internet Virtual Conference on September 9, 2021, with Steven Worth.
- Jefferies Virtual Software Conference on September 15, 2021, with Steven Worth and Joe Maxa.
- Sidoti Fall 2021 Virtual Small Cap Investor Conference on September 22, 2021, with Joe Maxa.
OneSpan Inc. (NASDAQ: OSPN) reported a decline in revenue for Q2 2021, totaling $52.3 million, down 5% year-over-year. For the first half, revenue reached $103.1 million, a 7% decrease. The company also faced a GAAP operating loss of $8.9 million for Q2 and $18.2 million for the first half. Despite a growth of over 50% in e-signature and mobile security revenues, challenges persist with other solutions, leading to lower guidance for the full year.
The company anticipates total revenue between $205 million to $215 million, revising earlier expectations.
OneSpan (NASDAQ: OSPN) announced leadership changes aimed at bolstering strategic growth and enhancing business transformation. Steven Worth has been appointed Interim CEO following Scott Clements' resignation. Worth, who has significant experience within the company and the tech sector, aims to optimize operations and accelerate revenue growth. John Bosshart has taken on the role of Interim CFO. Additionally, Al Nietzel has become Chair of the Board, succeeding John N. Fox Jr., who has retired. The company seeks a permanent CEO with a focus on software and growth.
OneSpan Inc. (NASDAQ: OSPN) will release its second quarter 2021 financial results after the market closes on August 4, 2021. A conference call to discuss these results will take place at 4:30 p.m. ET on the same day. Investors can access the call via telephone or through a live webcast available on the OneSpan Investor Relations website. The conference call aims to provide insights into OneSpan's performance and strategies moving forward.
OneSpan Inc. (NASDAQ: OSPN) has entered into an agreement with Legion Partners Holdings, which owns approximately 6.9% of OneSpan's stock. As part of this agreement, Legion's nominees, Sarika Garg and Michael McConnell, will join OneSpan's Board after the 2021 Annual Meeting scheduled for June 9, 2021. This move follows the announcement of board retirements, including Chairman John N. Fox by September 30, 2021. The cooperation agreement also includes customary standstill and voting commitments, aiming to enhance shareholder value.
Legion Partners Asset Management, holding 2,790,121 shares (6.9% ownership) of OneSpan (OSPN), has nominated four independent director candidates for the 2021 Annual Meeting. The nominees—Sarika Garg, Rinki Sethi, Michael J. McConnell, and Sagar Gupta—are expected to bring substantial modern software and cybersecurity expertise to OneSpan's Board. Legion argues the current Board lacks relevant experience and has overseen underperformance. They advocate for financial transparency, improved governance, and strategic oversight to enhance shareholder value.
OneSpan (NASDAQ: OSPN), a leader in securing remote banking transactions, announces participation in three upcoming investor conferences. CEO Scott Clements and VP Joe Maxa will hold one-on-one meetings on June 1 and June 10, 2021, at the Cowen 49th Annual Technology, Media & Telecom Conference and Baird 2021 Global Consumer, Technology & Services Virtual Conference, respectively. Clements will present at both conferences. A webcast link for live presentations and archived replays will be available on the company's investor relations website.