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Jun 30, 2024
OneSpan Q2 2024 Earnings Report
Reported strong Q2 2024 financial results with revenue growth and improved profitability.
Key Takeaways
OneSpan reported a strong second quarter with a 9% increase in revenue, a 15% increase in ARR, and significantly improved profitability. Total revenue reached $60.9 million, driven by growth in both Digital Agreements and Security Solutions segments. The company's focus on operational rigor and efficient revenue growth contributed to the positive results.
Total revenue increased by 9% year-over-year to $60.9 million.
Subscription revenue grew by 29% year-over-year to $29.6 million.
ARR increased by 15% year-over-year to $165.3 million.
Net income was $6.6 million, or $0.17 per diluted share, compared to a net loss of $17.8 million, or $(0.44) per diluted share in the same period last year.
OneSpan
OneSpan
OneSpan Revenue by Segment
Revenue by Segment
Security Solutions Revenue
CapyFin.comDigital Agreements Revenue
CapyFin.com Forward Guidance
For the full year 2024, OneSpan expects revenue to be in the range of $238 million to $246 million, ARR to finish the year in the range of $166 million to $170 million, and Adjusted EBITDA to be in the range of $55 million to $59 million.
Positive Outlook
- Revenue to be in the range of $238 million to $246 million.
- ARR to finish the year in the range of $166 million to $170 million.
- Adjusted EBITDA to be in the range of $55 million to $59 million.
- ARR guidance increased from previous range of $160 million to $168 million.
- Adjusted EBITDA guidance increased from previous range of $51 million to $55 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income