Press release
OneSpan Reports Results for Fourth Quarter and Full Year 2019; Exceeds Full Year 2019 Financial Guidance
Fourth Quarter Financial Results Q4 Total revenue up 10% to $71.0 millionQ4 Software revenue grew 63% to $25.5 million1Q4 Adjusted EBITDA of $13.3 million2Q4
About this update from Onespan Inc.
[{"type":"text","content":"Fourth Quarter Financial Results\n Q4 Total revenue up 10% to $71.0 millionQ4 Software revenue grew 63% to $25.5 million1Q4 Adjusted EBITDA of $13.3 million2Q4 GAAP earnings per share of $0.13Q4 Non-GAAP earnings per share of $0.242 2019 Financial Results FY Total revenue up 20% to $254.6 millionFY Software revenue grew 26% to $79.4 million1FY Adjusted EBITDA of $32.9 million2FY GAAP earnings per share of $0.22FY Non-GAAP earnings per share of $0.542 CHICAGO, March 03, 2020 (GLOBE NEWSWIRE) -- OneSpan Inc. (NASDAQ: OSPN), a global leader in software for trusted identities, e-signatures and secure transactions, today reported financial results for the fourth quarter and full year ended December 31, 2019. “Our transformation continues to yield positive results as we enjoyed an impressive fourth quarter with software license revenue up 73% and subscription revenue up 37% contributing to total software revenue growth of 63%,” stated OneSpan CEO, Scott Clements. “For the full year, we exceeded the high-end of our previously increased revenue and Adjusted EBITDA guidance. Total revenue increased 20% to $255 million, our highest year ever. Subscription revenue grew 44% and total software revenue grew 26%. We continue to make progress on our TID strategy with additional implementations and a strong pipeline of opportunities for 2020.” Fourth Quarter and Full Year 2019 Financial Highlights Revenue for the fourth quarter of 2019 was $71.0 million, an increase of 10% from $64.8 million for the fourth quarter of 2018. Revenue for the full year 2019 was $254.6 million, an increase of 20% from $212.3 million for the full year 2018. Gross Profit for the fourth quarter of 2019 was $49.6 million and $172.6 million for the full year 2019. Gross Profit for the fourth quarter of 2018 was $42.2 million and $147.5 million for the full year 2018. Gross margin for the fourth quarter of 2019 was 70% and for the full year 2019 was 68%. Gross margin for the fourth quarter of 2018 was 65% and for the full year 2018 was 69%.GAAP operating income for the fourth quarter of 2019 was $5.9 million, and for the full year 2019 was $15.3 million. GAAP operating income for the fourth quarter of 2018 was $4.1 million, and for the full year 2018 was less than $0.1 million. Adjusted EBITDA for the fourth quarter of 2019 was $13.3 million, or 19% of revenue, and for the...