The following is a summary of the OneSpan Inc. (OSPN) Q2 2024 Earnings Call Transcript:

Financial Performance:

• OneSpan reported Q2 2024 revenue growth of 9% to $60.9 million.

• Subscription revenue grew 29% to $29.6 million.

• Adjusted EBITDA was $16 million, representing 27% of revenue.

• Q2 generated $2 million in cash from operations.

• Full-year adjusted EBITDA forecast has been increased.

Business Progress:

• Transition to higher-margin software revenue is successful, now comprising approximately 75% of total revenue.

• Achieved strong second-quarter performance in the Digital Agreements and Security business units.

• Expects double-digit subscription revenue growth, while maintenance revenue may decline.

• Enhancement and new development in SaaS offerings and security products including FIDO hardware tokens.

Opportunities:

• Digital Agreements and Security business units are expected to continue growing and remain profitable.

• The company is continuing to expand its subscription and SaaS models, driving ARR growth.

Risks:

• There may be a challenge in Q3 due to deals closing earlier than expected in Q2. Furthermore, there will be a decline in hardware revenues in the second half of the year compared to last year.

More details: OneSpan IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.