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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) 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.