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 (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.
OneSpan (NASDAQ: OSPN) has appointed Stuti Bhargava as its first Chief Customer Experience Officer, marking a commitment to improving customer interactions. With over 20 years in technology, including leadership roles in customer success at Immersive Labs and BitSight, Bhargava is expected to enhance OneSpan's customer journey. CEO Matthew Moynahan emphasized the importance of customer focus in accelerating digital transformations. This strategic role aims to maximize customer value from OneSpan's cloud-based security solutions.
OneSpan (NASDAQ: OSPN) has launched its Virtual Room, a secure cloud service designed for high-assurance customer engagement. This solution combines identity security with e-signature capabilities, enabling organizations to conduct live, personalized interactions while enhancing security and reducing fraud risks. The Virtual Room aims to improve agreement completion rates in a secure environment, addressing the need for high compliance and verification in digital transactions. With the rise of remote interactions, this innovative tool positions OneSpan prominently in the digital agreement market.