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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.
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OneSpan Inc. (NASDAQ: OSPN), a digital agreements security company, will announce its first quarter 2023 financial results post-market on May 4, 2023. 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 through the OneSpan Investor Relations website, with a replay available shortly afterwards. OneSpan specializes in enhancing digital transformations for organizations by offering secure and compliant customer agreements, serving over 60% of the world's largest 100 banks. The company processes millions of digital agreements and billions of transactions across more than 100 countries annually, emphasizing its role in delivering high-assurance security solutions.
OneSpan Inc. (NASDAQ: OSPN) reported financial results for the fourth quarter and full year 2022, highlighting a 4% decline in Q4 revenue to $56.6 million, despite a 2% annual increase to $219.0 million. Subscription revenue surged 28% in Q4, totaling $23.8 million. Annual Recurring Revenue rose 12% to $138.7 million. The company recorded a net loss of $3.1 million, with Non-GAAP net income at $1.2 million. Adjusted EBITDA reached $3.2 million, a significant improvement from a loss the previous year. OneSpan anticipates 2023 revenue between $232 million and $242 million, representing a growth rate of 6%-11%. Key business highlights include the acquisition of ProvenDB and the launch of OneSpan Notary.