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Sep 30, 2022
OneSpan Q3 2022 Earnings Report
OneSpan's Q3 2022 financial results were reported, revealing a revenue increase of 9% year-over-year, driven by subscription revenue growth. The company's strategic transformation plan and investments in sales, marketing, and product development were highlighted to position the company for sustainable ARR growth.
Key Takeaways
OneSpan reported a 9% increase in total revenue, reaching $57.1 million, with subscription revenue growing by 25%. The company's ARR grew by 14% to $135.8 million. Despite FX headwinds, OneSpan's CEO expressed satisfaction with the progress of the transformation plan and expects investments to drive sustainable ARR growth.
Total revenue increased by 9% year-over-year to $57.1 million.
Subscription revenue grew by 25% year-over-year to $22.3 million.
Annual Recurring Revenue (ARR) increased by 14% year-over-year to $135.8 million.
Dollar-based net expansion (DBNE) rate was 109%.
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 12%-13%, and adjusted EBITDA to be in the range of $1 million to $3 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income