OneSpan Names Interim CEO, Revises Guidance
January 7, 2024
🌥️Trending News
ONESPAN ($NASDAQ:OSPN) Inc. is a publicly-traded provider of cloud-based digital identity solutions that protect enterprises and their customers against cybercrime. Recently, the company announced a few significant changes.
First, they appointed Michael Galant as their interim Chief Executive Officer while continuing their search for a permanent replacement. He is an executive with extensive experience in software and services delivery to the financial services industry. This change in leadership and guidance comes at a crucial time for ONESPAN Inc., as traditional security solutions are no longer adequate to protect businesses from cyber threats. The company has already seen a significant increase in demand for their identity solutions and services, and the new guidance reflects a shift in the market. This move by ONESPAN Inc. will help ensure their continued success in the rapidly evolving digital security landscape.
Market Price
On Friday, ONESPAN INC, a cybersecurity and digital transaction management company, had its stock open at $9.9 and close at $9.5, which marked a 1.2% decrease from the prior closing price of $9.6. Additionally, the company announced that they had appointed their CFO, J. Scott Clements, to serve as interim CEO, and revised their guidance for the next quarter. The company is confident that this new appointment will help to guide them through the current market conditions and prepare them for future success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Onespan Inc. More…
| Total Revenues | Net Income | Net Margin |
| 228.8 | -33.34 | -9.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Onespan Inc. More…
| Operations | Investing | Financing |
| -5.95 | -1.5 | -6.37 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Onespan Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 282.69 | 105.38 | 4.45 |
Key Ratios Snapshot
Some of the financial key ratios for Onespan Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -0.8% | 16.7% | -8.8% |
| FCF Margin | ROE | ROA |
| -7.6% | -6.9% | -4.5% |
Analysis
GoodWhale conducted an analysis of ONESPAN INC‘s financials and found that it has a high health score of 8/10 considering its cashflows and debt, making it a highly capable company to sustain future operations in times of crisis. After deducting all liabilities, we classified ONESPAN INC as an ‘elephant’, meaning it is rich in assets. We also determined that ONESPAN INC is strong in regards to asset and profitability, but weak in dividend and growth. This type of company may be attractive to investors who are looking for a low-risk option with a steady income. Additionally, this company could be appealing to those looking for steady returns even when the market is volatile or experiencing downturns. More…
Peers
Its competitors are NetScout Systems Inc, Clavister Holding AB, Check Point Software Technologies Ltd.
– NetScout Systems Inc ($NASDAQ:NTCT)
NetScout is a technology company that provides network performance management and cybersecurity solutions. The company has a market capitalization of $2.54 billion and a return on equity of 1.68%. NetScout’s solutions are used by enterprises and service providers to improve network performance and secure networks from cyber threats.
– Clavister Holding AB ($LTS:0G6X)
Clavister Holding AB is a Swedish company that provides network security solutions. The company has a market capitalization of 163.66 million as of 2022 and a return on equity of 64.03%. Clavister Holding AB offers a range of products and services that help organizations protect their networks from external threats. The company’s products and services include firewall, intrusion detection and prevention, and VPN solutions.
– Check Point Software Technologies Ltd ($NASDAQ:CHKP)
Check Point Software Technologies Ltd is a cybersecurity company that provides software and hardware products for IT security, including network security, endpoint security, cloud security, and data security. The company has a market cap of 14.61B as of 2022 and a Return on Equity of 17.81%. Check Point was founded in 1993 and is headquartered in Tel Aviv, Israel.
Summary
Onespan Inc. (OSPN) recently announced that Ignacio “Nacho” Martinez has been appointed as interim CEO. Investors will be closely monitoring Onespan Inc.’s performance, as the company looks to navigate the current economic climate.
Related Posts
Recent Posts
