OneSpan Inc. (NASDAQ: OSPN) reported Q3 EPS of $0.04, $0.04 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $52.5 million versus the consensus estimate of $54.09 million.

• Q3 Total revenue up 3% to $52.5 million
• Q3 Adjusted EBITDA of $1.0 million1
• Q3 GAAP loss per share of $0.02
• Q3 non-GAAP diluted earnings per share of $0.041

“Third quarter revenue growth was lower than expected due to order timing resulting in approximately $2 million of revenue being recognized early in the fourth quarter,” stated OneSpan CEO Scott Clements. “The timing of this revenue does not affect our full year 2018 guidance. During the quarter, mobile security software revenue grew by 50% and subscription revenue by 38%. We continue to make significant progress executing our Trusted Identity Strategy to secure digital customer journeys for financial institutions. We have numerous pilots, proofs-of-concept and initial deployments worldwide and a robust product release roadmap over the next several quarters.”

GUIDANCE:

OneSpan Inc. sees FY2018 revenue of $201-211 million, versus the consensus of $207.16 million.

For earnings history and earnings-related data on OneSpan Inc. (OSPN) click here.