Onespan Inc Stock Price, News & Analysis

OneSpan Inc. (NASDAQ: OSPN) announced the acquisition of ProvenDB, an Australian startup specializing in blockchain-based secure storage. This acquisition aims to enhance OneSpan’s Transaction Cloud Platform, extending its capabilities to both public and private blockchains, ensuring high assurance for digital contracts and documents.

ProvenDB's technology will add a vital layer of security, preventing data tampering and ensuring data integrity. The acquisition is expected to close in the first quarter of 2023, subject to customary conditions, and is seen as a strategic move to solidify OneSpan's position in the digital transaction security space.

OneSpan (NASDAQ: OSPN) announced it will release its fourth quarter and fiscal year 2022 financial results after market close on February 28, 2023. A conference call is scheduled for 4:30 p.m. ET on the same day, with a live webcast available on their investor relations website. OneSpan specializes in securing digital agreements and transactions, serving major global enterprises, including over 60% of the world's largest 100 banks. The company processes millions of digital agreements annually across more than 100 countries.

OneSpan Inc. (NASDAQ: OSPN), a leader in digital agreements security, will participate in the 25th Annual Needham Growth Conference from January 10-12, 2023. The company is scheduled for a fireside chat on January 11 at 8:00 a.m. E.T. During the conference, management will engage in investor meetings, promoting its secure and easy customer agreement solutions used by over 60% of the world's largest 100 banks. A live webcast of the chat and its replay will be available on OneSpan’s investor relations website.

OneSpan, a leader in digital agreements security, has been awarded the 2022 North America Product Leadership Award for passwordless authentication by Frost & Sullivan. This recognition highlights OneSpan's innovative solutions that ensure security and enhance user experience in digital transactions. Frost & Sullivan notes OneSpan's commitment to reliability, quality, and customer satisfaction, positioning it as a pioneer in the continuous passwordless authentication industry. The company aims to simplify secure customer interactions, especially for high-value transactions.

OneSpan (NASDAQ: OSPN) announced the promotion of M. Samy Ibrahim to Chief Revenue Officer, aiming to enhance sales and revenue growth.

Ibrahim, with extensive experience in sales and cybersecurity, previously held roles at Forcepoint and Arbor Networks. His leadership is expected to drive strategic alignment across revenue functions as OneSpan strengthens its market position heading into 2023.

President and CEO Matthew Moynahan highlighted Ibrahim's proven ability to grow revenue and deliver excellent client service.

OneSpan Inc. (NASDAQ: OSPN), a leader in digital agreement security, has announced its participation in two investor conferences on November 15, 2022. The company will engage in a fireside chat and investor meetings at the BTIG Technology Innovation Summit and the 16th Annual Needham Virtual Security, Networking, & Communications Conference. OneSpan specializes in enhancing digital transformations for organizations by providing secure and compliant transaction experiences, serving over 60% of the world's largest banks and processing millions of agreements globally.

OneSpan (NASDAQ: OSPN) has launched the DIGIPASS CX, a cloud-connected personal security device, enhancing identity verification amidst rising cyber threats. This innovative device addresses increasing incidents of identity theft, aiming to restore trust in digital transactions. The DIGIPASS CX devices allow users to authenticate transactions from any device using high-security biometric methods and various authentication protocols. The rollout is expected in Q2 2023, focusing on providing continuous security throughout customer interactions.

OneSpan reported Q3 2022 results with total revenue of $57.1 million, a 9% year-over-year increase, despite foreign exchange challenges impacting revenues by approximately $4.5 million. Subscription revenue rose 25% to $22.3 million, and Annual Recurring Revenue (ARR) grew 14% to $135.8 million. The company expects ARR growth to be 12%-13% for the year, revised from 16%-18%. Despite a net loss of $7.2 million, Adjusted EBITDA improved to $4.5 million, reflecting ongoing investments in sales and product development.

OneSpan Inc. (NASDAQ: OSPN) will release its third quarter 2022 financial results on November 1, 2022, after the market closes. A conference call to discuss these results is scheduled for 4:30 p.m. ET on the same day. Investors can join the call via the OneSpan Investor Relations website, where a replay will also be available shortly after. OneSpan aids organizations in secure digital transformations and serves over 60% of the world’s largest 100 banks.