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OneSpan Q1 2025 Earnings Report
OneSpan reported a solid first quarter in 2025, marked by record high operating income and strong cash generation, with total revenue slightly decreasing year-over-year.
Key Takeaways
OneSpan Inc. reported a total revenue of $63.4 million for the first quarter of 2025, a 2% decrease compared to the same period in 2024. Despite the slight revenue dip, the company achieved a record high operating income of $17.2 million, a 22% increase year-over-year, and strong cash generation, with cash and cash equivalents reaching $105.2 million.
Operating income increased 22% year-over-year to $17.2 million, reaching a record high.
Total revenue decreased by 2% year-over-year to $63.4 million.
Subscription revenue increased 9% year-over-year to $43.6 million, indicating growth in recurring revenue streams.
Annual Recurring Revenue (ARR) grew by 9% year-over-year to $168.4 million, and Net Retention Rate (NRR) was 107%.
Revenue by Segment
Forward Guidance
For the full year 2025, OneSpan expects total revenue to be in the range of $245 million to $251 million, ARR to be between $180 million and $186 million, and Adjusted EBITDA to be in the range of $72 million to $76 million.
Positive Outlook
- Expected ARR growth to a range of $180 million to $186 million.
- Anticipated Adjusted EBITDA in the range of $72 million to $76 million, indicating continued profitability.
- Focus on operational excellence to drive efficient revenue growth.
- Continued optimization of cost structure.
- Recurring quarterly cash dividend of $0.12 per share declared.
Challenges Ahead
- Potential for changes in the global tax environment to impact non-GAAP tax rate.
- Significant changes in geographic earnings mix could affect non-GAAP tax rate.
- Changes to strategy or business operations could impact non-GAAP tax rate.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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