Record High Adjusted EBITDA
OneSpan achieved record high adjusted EBITDA of $23 million, nearly 15% higher than last year's first quarter.
Strong Cash Generation
The company generated $29 million in cash from operations and ended the quarter with $105 million in cash on hand.
Digital Agreements Growth
Q1 subscription revenue in digital agreements grew 13%, driven by expansion contracts and new logos.
High Gross Margin
First quarter gross margin increased to 74% from 73% in the prior year quarter, driven by favorable product mix and improved operational efficiencies.
Dividend Program Initiation
OneSpan paid its first quarterly dividend of $0.12 per share, totaling approximately $4.6 million.