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Mar 31, 2022
OneSpan Q1 2022 Earnings Report
Reported financial results with revenue increase and positive adjusted EBITDA
Key Takeaways
OneSpan reported a solid first quarter with a 3% increase in total revenue, driven by a 22% growth in recurring revenue and a 21% increase in ARR. The company's GAAP net income was $5.2 million, and adjusted EBITDA was $0.2 million.
Total revenue grew 3% year-over-year to $52.4 million.
Recurring revenue grew 22% year-over-year to $35.2 million.
ARR grew 21% year-over-year to $130.7 million.
GAAP net income was $5.2 million.
OneSpan
OneSpan
Forward Guidance
OneSpan expects revenue to meet or exceed full year 2021 revenue. The company is finalizing its review of its full year 2022 adjusted EBITDA outlook and will provide an update at its investor day on May 17.
Positive Outlook
- Revenue to meet or exceed full year 2021 revenue.