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Sep 30, 2024
OneSpan Q3 2024 Earnings Report
Reported strong subscription growth, profitability, and cash generation.
Key Takeaways
OneSpan reported a decrease in revenue by 4% year-over-year, but demonstrated strong growth in subscription revenue and improved profitability. The company's focus on operational efficiency led to increased operating income and net income compared to the same quarter last year.
Total revenue was $56.2 million, a 4% decrease compared to the same quarter of 2023.
Subscription revenue increased 29% year-over-year to $33.6 million.
Operating income was $11.3 million, compared to an operating loss of $4.8 million in the same period last year.
Net income was $8.3 million, or $0.21 per diluted share, compared to a net loss of $4.1 million, or $(0.10) per diluted share, in the same period last year.
Revenue by Segment
Forward Guidance
For the full year 2024, OneSpan is narrowing the range of its previously issued revenue guidance to reflect a reduction in anticipated hardware token shipments, partially offset by stronger than previously expected subscription revenues. The Company is affirming its ARR guidance and is increasing its Adjusted EBITDA guidance to reflect stronger than originally anticipated operating leverage driven by improved execution of its cost savings initiatives.
Positive Outlook
- Revenue to be in the range of $238 million to $242 million.
- ARR to finish the year in the range of $166 million to $170 million.
- Adjusted EBITDA to be in the range of $65 million to $67 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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