OneSpan Q1 revenue rises on subscription growth

Onespan

30/04/2026 21:25

Overview

Digital security firm's Q1 revenue rose 4% yr/yr, beating analyst expectations

Adjusted net income and adjusted EBITDA for Q1 both beat analyst expectations

Company completed Build38 acquisition and repurchased 510,000 shares for $5.4 mln

Outlook

OneSpan raises full-year 2026 ARR guidance to $194 mln-$198 mln from $192 mln-$196 mln

Company expects 2026 revenue of $244 mln-$249 mln

OneSpan sees 2026 adjusted EBITDA of $64 mln-$68 mln

Result Drivers

SUBSCRIPTION REVENUE GROWTH - Q1 subscription revenue rose 8% yr/yr to $52.7 mln, with Digital Agreements revenue up 11% yr/yr

HIGHER ANNUAL RECURRING REVENUE - ARR increased 14% yr/yr to $192.1 mln, reflecting growth in recurring contracts

BUILD38 ACQUISITION - Completed acquisition of Build38 to expand cybersecurity offerings, enabling enhanced mobile app protection

Company press release: ID:nBw6jHdGLa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$65.90 mln
$62.40 mln (5 Analysts)
Q1 Adjusted Net Income
Beat
$14.80 mln
$13.44 mln (5 Analysts)
Q1 Adjusted EBITDA
Beat
$21 mln
$18.49 mln (5 Analysts)
Q1 Annual Recurring Revenue
$192.10 mln
Q1 Gross Profit
$48.50 mln
Q1 Operating Income
$14.80 mln
Q1 Subscription Revenue
$52.70 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the software peer group is "buy"

Wall Street's median 12-month price target for OneSpan Inc is $15.50, about 34.9% above its April 29 closing price of $11.49

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)