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Sep 30, 2020
OneSpan Q3 2020 Earnings Report
Reported a decline in total revenue but growth in annual recurring revenue and dollar-based net expansion rate.
Key Takeaways
OneSpan's Q3 2020 results showed a decline in total revenue by 35% to $51.4 million, but the company saw growth in its annual recurring revenue (ARR) by 27% to $95.7 million and a dollar-based net expansion rate of 120%. The company's transition to a recurring revenue model and the demand for e-signature solutions contributed to these results, while the pandemic delayed some IT projects and affected demand for certain authentication products.
Total revenue decreased by 35% to $51.4 million.
Recurring revenue decreased by 5% to $22.1 million.
Annual Recurring Revenue (ARR) increased by 27% to $95.7 million.
GAAP loss per share was $(0.04), while Non-GAAP earnings per share was $0.03.
OneSpan
OneSpan
Forward Guidance
OneSpan expects total revenue in the range of $203 million to $207 million for the full year 2020.