ONESPAN INC Reports Q2 FY2023 Earnings Results on June 30 2023
August 12, 2023
🌥️Earnings Overview
On June 30 2023, ONESPAN INC ($NASDAQ:OSPN) reported their Q2 FY2023 earnings results, which revealed that total revenue had increased 5.6% to USD 55.7 million compared to the same quarter in the prior year. Net income was USD -17.8 million, compared to -9.4 million in the same quarter of the prior year.
Share Price
On Wednesday, June 30th, 2023, ONESPAN INC reported their second quarter earnings results for FY2023. The stock opened at $13.5 and closed at $13.3, down by 1.3% from the previous closing price of $13.5. Overall, the company had a successful quarter, with strong growth in both revenue and net income. With a focus on developing innovative digital security solutions, ONESPAN INC looks to be well-positioned for continued success in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Onespan Inc. More…
| Total Revenues | Net Income | Net Margin |
| 227.11 | -36.41 | -12.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Onespan Inc. More…
| Operations | Investing | Financing |
| -0.89 | 8.05 | -2.41 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Onespan Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 298.64 | 112.05 | 4.67 |
Key Ratios Snapshot
Some of the financial key ratios for Onespan Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -4.7% | 16.7% | -9.3% |
| FCF Margin | ROE | ROA |
| -5.0% | -6.8% | -4.4% |
Analysis
At GoodWhale, we have conducted a thorough analysis of ONESPAN INC‘s financials. Our Risk Rating for the company is high, which means that investors should be aware of potential risks associated with the company. We have detected two risk warnings in ONESPAN INC’s income sheet, and balance sheet. Registering on our website will give you access to more information about these warnings. We recommend that investors take the time to review the company’s financial statements and consider all potential risks, before investing. More…
Peers
Its competitors are NetScout Systems Inc, Clavister Holding AB, Check Point Software Technologies Ltd.
– NetScout Systems Inc ($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 released its Q2 FY2023 financials on June 30 2023, showing total revenue of USD 55.7 million, a 5.6% increase year-over-year. Net income was USD -17.8 million, down from -9.4 million in the previous year. Investors seem to be cautious of the net income dip, however they are encouraged by the continual revenue growth. It remains to be seen if ONESPAN INC can capitalize on its growing revenues and turn it into profitable growth.
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