Earnings exceed expectations, stock climbs in premarket trading

  • OneSpan shares soar 28% on swing to profit
  • Earnings far exceed analysts’ expectations
  • Stock climbs to $12.30 in premarket trading
  • Fourth-quarter profit of $400,000 compared to a loss in the year-ago quarter
  • Adjusted earnings of 19 cents a share compared to 3 cents a share in the year-ago quarter
  • Fourth-quarter revenue increases 11% to $62.9 million
  • Annual recurring revenue grows 11%
  • Full-year subscription revenue increases 19%
  • Cost-reduction actions accelerated during the second half of the fiscal year

Shares of OneSpan were climbing high in premarket trading after the cybersecurity company reported earnings that far exceeded analysts’ expectations. The stock soared 28% to $12.30 ahead of the Thursday market open. OneSpan reported a fourth-quarter profit of $400,000, compared to a loss in the year-ago quarter. Adjusted earnings were 19 cents a share, compared to 3 cents a share in the year-ago quarter. Fourth-quarter revenue increased 11% to $62.9 million. Annual recurring revenue grew 11% and full-year subscription revenue increased 19%. The company also accelerated its cost-reduction actions during the second half of the fiscal year.

Factuality Level: 8
Factuality Justification: The article provides specific details about OneSpan’s earnings report, including comparisons to analysts’ expectations and previous quarters. The information is clear and concise without any obvious bias or misleading information.
Noise Level: 3
Noise Justification: The article provides relevant information about OneSpan’s financial performance, including earnings, revenue, and growth metrics. It stays on topic and supports its claims with data and examples. However, it lacks in-depth analysis, accountability, or exploration of long-term trends or consequences of the company’s actions.
Financial Relevance: Yes
Financial Markets Impacted: Shares of OneSpan
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of OneSpan, a cybersecurity company, which reported earnings that exceeded analysts’ expectations. There is no mention of any extreme event or its impact.
Public Companies: OneSpan (Unknown)
Key People: Victor Limongelli (Chief Executive)

Reported publicly: www.marketwatch.com