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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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