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. (NASDAQ: OSPN) is a provider of secure authentication, identity, electronic signature, and digital workflow solutions, and its news flow reflects this focus on digital transaction security. Company announcements frequently cover financial results, strategic technology investments, and initiatives aimed at strengthening security for banks and other enterprises that rely on digital channels.
Investors following OSPN news can expect regular earnings releases and conference call announcements, where OneSpan discusses its revenue mix across product and license, services and other, as well as subscription revenue and Annual Recurring Revenue (ARR). These updates often highlight the performance of its Security Solutions and Digital Agreements businesses and provide context on profitability and recurring revenue trends.
OneSpan’s news also features strategic transactions and partnerships. The company has reported the acquisition of Nok Nok Labs Inc. to broaden its FIDO passwordless authentication capabilities, a strategic investment in ThreatFabric to expand fraud prevention and mobile threat intelligence, and a definitive agreement to acquire Build38 to advance SDK-based mobile application protection and Runtime Application Self-Protection (RASP). Such announcements illustrate how OneSpan is adding technologies in areas like mobile app security, AI-enhanced defenses, and fraud detection.
In addition, OneSpan issues news about customer deployments and industry collaborations, such as cloud-based FIDO authentication solutions for mobile banking and joint projects with partners in financial services. For those tracking developments in authentication, digital agreements, and digital banking security, the OSPN news page provides a centralized view of OneSpan’s reported financial performance, product-related initiatives, and key partnerships.
OneSpan (NASDAQ: OSPN) announced the retirement of T. Kendall Hunt from its Board of Directors, effective September 12, 2020. Hunt, who founded the company in 1997 and served in various leadership roles, played a vital role in its growth. The board has added four new directors with expertise in cloud technology, finance, and financial services to strengthen its capabilities. OneSpan's security solutions help reduce digital transaction fraud and facilitate regulatory compliance for over 10,000 customers, including more than half of the top 100 global banks.
On September 1, 2020, OneSpan (NASDAQ: OSPN) announced participation in several upcoming investor conferences. The events include the D.A. Davidson 19th Annual Software & Internet Virtual Conference on September 9, the Colliers 2020 Institutional Investor Conference on September 10, and the Jefferies Software Virtual Conference on September 15. The Sidoti Fall 2020 Investor Conference is scheduled for September 24. Live webcasts and replays will be available on the OneSpan investor relations website, highlighting the company's commitment to securing remote banking transactions.
On August 4, 2020, OneSpan announced a delay in its Q2 2020 earnings release originally scheduled for the same day. The company identified immaterial errors from prior periods concerning software license contracts, leading to estimated revenue overstatements of $2M to $2.5M from Q1 2018 to Q1 2020, less than 0.5% of total revenue. OneSpan plans to report its Q2 results on August 11, 2020, after market close. The company will assess the impact on its internal control over financial reporting.
OneSpan Inc. (NASDAQ: OSPN) will release its second quarter 2020 financial results on August 4, 2020, after market close. The company will host a conference call at 4:30 p.m. ET to discuss these results, with a live webcast available on the OneSpan Investor Relations website. Investors are encouraged to dial in at least 15 minutes early due to potential long hold times during the COVID-19 pandemic. OneSpan is a leader in securing remote banking transactions, providing solutions to over 10,000 customers, including significant global banks.
OneSpan Inc. (NASDAQ: OSPN) reported a revenue increase of 19% to $56.5 million for Q1 2020, driven by a 90% growth in software revenue, amounting to $24.4 million. Recurring revenue rose 62% to $26 million. The company achieved an adjusted EBITDA of $5.3 million, contrasting with a net income of $0.1 million, or $0.00 per share. Cash and investments totaled $105.3 million. For 2020, OneSpan anticipates revenue between $255 million and $265 million.