Why Shares of OneSpan Crashed Today

Why Shares of OneSpan Crashed Today

Shares of OneSpan (NASDAQ: OSPN) tumbled on Wednesday after the cybersecurity solutions provider to the financial industry reported its second-quarter results. OneSpan missed analyst estimates across the board, and it pulled its guidance for 2020 due to increased uncertainty related to the pandemic. Recurring revenue was up 35% to $23.2 million, while annual recurring revenue jumped 29% to $90 million.