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Sep 30, 2021
OneSpan Q3 2021 Earnings Report
OneSpan's Q3 2021 performance reflected a 2% year-over-year revenue increase and a shift towards recurring revenue streams, alongside strategic actions to accelerate growth and reduce costs.
Key Takeaways
OneSpan reported a 2% increase in total revenue, reaching $52.3 million, with a significant 38% growth in recurring revenue. The company is focusing on strategic actions to accelerate recurring revenue growth and implement cost reduction opportunities, leading to increased full-year guidance.
Total revenue increased by 2% year-over-year to $52.3 million.
Recurring revenue grew by 38% year-over-year to $30.5 million.
Annual Recurring Revenue (ARR) increased by 24% year-over-year to $119.0 million.
The company increased guidance for full year 2021.
OneSpan
OneSpan
Forward Guidance
For the full year 2021, OneSpan expects total revenue between $209 million and $213 million, recurring revenue between $118 million and $120 million, ARR growth of 18% to 20%, and Adjusted EBITDA between negative $6 million and negative $8 million.
Positive Outlook
- Total revenue in the range of $209 million to $213 million.
- Recurring revenue in the range of $118 million to $120 million.
- ARR growth of 18% to 20%.
- Adjusted EBITDA in the range of negative $6 million to negative $8 million.