Onespan Inc Stock Price, News & Analysis

Legion Partners Asset Management announced its nomination of four independent directors for OneSpan's Board to enhance value for shareholders. Beneficially owning approximately 6.9% of OneSpan's stock, Legion aims for significant Board refreshment, asserting the current directors lack relevant experience for the company’s cloud-first strategy. Key points include calls to monetize the Hardware business and a belief that effective changes could raise share valuations by 70%. Legion encourages stockholders to support its nominees to unlock stockholder value.

OneSpan™ Inc. (NASDAQ: OSPN) has appointed Garry Capers as an independent director, effective April 6, 2021. Mr. Capers brings extensive experience in SaaS solutions from his role at Deluxe Corporation and prior leadership roles at Automatic Data Processing and Equifax. His appointment is part of OneSpan's initiative to enhance board expertise in cloud-centric, recurring revenue models, aligning with the company’s strategic goals. This follows a trend of board refreshment, adding four independent directors since June 2019.

OneSpan Inc. (NASDAQ: OSPN) will release its first quarter 2021 financial results on May 4, 2021, after market close. A conference call to discuss these results will take place at 4:30 p.m. ET the same day. Investors can access a live webcast of the call on the OneSpan Investor Relations website. The company emphasizes its role in securing remote banking transactions and reducing digital fraud, serving over 10,000 customers including many top global banks.

Legion Partners Asset Management, owning 6.8% of OneSpan's stock, has issued an open letter to shareholders nominating four independent director candidates for election. They criticize OneSpan’s valuation issues, lack of corporate governance, and poor capital allocation practices. Legion Partners emphasizes the need for a strategic review to enhance shareholder value. They express loss of confidence in the current Board after numerous attempts to engage. The letter highlights underperformance, lack of relevant skills among long-tenured directors, and missed strategic opportunities as key concerns.

OneSpan reported its fourth quarter and full-year 2020 results, revealing a challenging year with a 15% decline in total revenue to $215.7 million. However, the company saw a significant increase in annual recurring revenue (ARR), which grew by 29%, surpassing its long-term target. The fourth quarter revenue of $52.9 million marked a 25% decrease from the previous year, attributed to customers accelerating purchases in 2019 due to regulatory compliance. Despite these challenges, gross margins improved, and the company plans to focus on recurring revenue growth in 2021, projecting ARR growth between 22% and 26%.

OneSpan (NASDAQ: OSPN) will announce its Q4 and FY 2020 financial results on February 23, 2021, after market close. A conference call will be held that day at 4:30 PM ET to discuss the results, which can be accessed via webcast on the OneSpan Investor Relations website. OneSpan specializes in securing remote banking transactions and provides solutions to over 10,000 customers, including many leading global banks, helping to reduce digital fraud and improve user experience.

OneSpan (NASDAQ: OSPN) will release its fourth quarter and fiscal year 2020 financial results post-market on February 23, 2021. A conference call is scheduled for 4:30 p.m. ET the same day to discuss these results, featuring a live webcast available on the company’s Investor Relations website. OneSpan specializes in securing remote banking transactions, focusing on reducing digital fraud through its Trusted Identity platform, catering to over 10,000 customers globally, including many top banks.

OneSpan (NASDAQ: OSPN) announced CEO Scott Clements and VP of Investor Relations Joe Maxa will participate in the 23rd Annual Needham Virtual Growth Conference from January 11-15, 2021. OneSpan is scheduled to present on January 13 at 4:15 p.m. ET and will offer one-on-one meetings. The event aims to showcase OneSpan's advancements in securing remote banking transactions and addressing digital fraud, as the company supports over 10,000 customers, including half of the top 100 global banks.

OneSpan (NASDAQ: OSPN) has released its first Global Financial Regulations Report, focusing on the regulatory landscape affecting financial services globally. The report highlights the impact of COVID-19 on remote banking, urging financial institutions to adapt to new regulations in fraud prevention, digital identity, and data protection. Key trends include the rise of artificial intelligence scrutiny, approval of remote account openings, growth in Open Banking, increased use of facial recognition for identity verification, and emerging regulations for cryptocurrencies.