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Jun 30, 2022
OneSpan Q2 2022 Earnings Report
Reported solid results with revenue increase and ARR growth.
Key Takeaways
OneSpan reported a 1% increase in total revenue, reaching $52.8 million, with subscription revenue growing by 26%. The company's ARR grew by 21% to $134.3 million. However, GAAP net loss was $9.4 million, or $0.23 per diluted share, and Non-GAAP net loss was $4.0 million, or $0.10 per diluted share.
Total revenue grew 1% year-over-year to $52.8 million.
Subscription revenue grew 26% to $19.8 million.
Annual Recurring Revenue (ARR) grew 21% to $134.3 million.
Dollar-based net expansion (DBNE) rate of 116%.
OneSpan
OneSpan
OneSpan Revenue by Segment
Revenue by Segment
Security Solutions Revenue
CapyFin.comDigital Agreements Revenue
CapyFin.com Forward Guidance
For the full year 2022, OneSpan expects revenue to meet or exceed full year 2021 revenue, ARR growth of 16% - 18%, and Adjusted EBITDA to be in the range of negative $5 million to negative $7 million.
Positive Outlook
- Revenue to meet or exceed full year 2021 revenue.
- ARR growth of 16% - 18%.
Challenges Ahead
- Adjusted EBITDA to be in the range of negative $5 million to negative $7 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income