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Mar 31, 2023
OneSpan Q1 2023 Earnings Report
Reported a 10% year-over-year revenue growth and a 29% year-over-year subscription revenue growth.
Key Takeaways
OneSpan reported a 10% increase in total revenue, reaching $57.6 million, driven by a 29% growth in subscription revenue. The company is investing in sales and marketing and product development to drive ARR growth and position the company for long-term profitable growth.
Total revenue grew 10% year-over-year to $57.6 million.
Subscription revenue grew 29% year-over-year to $30.0 million.
Annual Recurring Revenue (ARR) grew 10% year-over-year to $141.3 million.
Net Retention Rate (NRR) was 108%.
OneSpan
OneSpan
OneSpan Revenue by Segment
Revenue by Segment
Security Solutions Revenue
CapyFin.comDigital Agreements Revenue
CapyFin.com Forward Guidance
OneSpan expects revenue to be in the range of $232 million to $242 million, representing a growth rate of 6% - 11%, and ARR to be in the range of $157 million to $164 million, representing a growth rate of 13% - 18%. Adjusted EBITDA is expected to be in the range of $3 million to $6 million.
Positive Outlook
- Revenue to be in the range of $232 million to $242 million, representing a growth rate of 6% - 11%
- ARR to be in the range of $157 million to $164 million, representing a growth rate of 13% - 18%
- Adjusted EBITDA to be in the range of $3 million to $6 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income