8-K filed August 4, 2021, 7:59 PM ET ticker OSPN CIK 0001044777

earnings confidence high sentiment negative materiality 0.90

OneSpan Q2 revenue down 5%; CEO departs; full-year guidance slashed

OneSpan Inc.

2021-Q2 EPS reported -$0.40 revenue$103,052,000

Q2 revenue $52.3M (-5% YoY); GAAP net loss $6.7M vs loss $2.0M a year ago.
Recurring revenue grew 24% to $28.8M; ARR up 24% to $111.7M.
Full-year 2021 guidance lowered: revenue $205-215M (from $215-225M); Adj. EBITDA loss $12-15M (from breakeven).
CEO Scott Clements left Aug 2; Steven Worth named interim CEO (formerly GC/Interim CFO).
John Bosshart appointed interim CFO; Chair Al Nietzel replaces John Fox Jr., who retired from board.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

John N. Fox, Jr.

Director

OSPN · OneSpan Inc.

Effective: 2021-08-04
Filed: August 4, 2021, 7:59 PM ET

On July 29, 2021, Mr. Fox notified the Board that he will resign from the Board effective August 4, 2021.

Appointed (interim)

John W. Bosshart

Interim Chief Financial Officer and Treasurer

OSPN · OneSpan Inc.

Effective: 2021-08-02
Filed: August 4, 2021, 7:59 PM ET

the Company announced the appointment of John W. Bosshart as Interim Chief Financial Officer and Treasurer, effective August 2, 2021.

Departed

Scott M. Clements

President and Chief Executive Officer

OSPN · OneSpan Inc.

Effective: 2021-08-02
Successor: Steven R. Worth
Filed: August 4, 2021, 7:59 PM ET

Scott M. Clements, the Company’s President and Chief Executive Officer and a director, left the Company (including the Board) effective August 2, 2021.

Appointed (interim)

Steven R. Worth

Interim President and Chief Executive Officer

OSPN · OneSpan Inc.

Effective: 2021-08-02
Filed: August 4, 2021, 7:59 PM ET

On August 4, 2021, the Company announced the appointment of Steven R. Worth as Interim President and Chief Executive Officer, effective August 2, 2021.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

John N. Fox, Jr. resigned as Director at OneSpan Inc..

Action: resigned
Role: Director

Exact text from the filing

On July 29, 2021, Mr. Fox notified the Board that he will resign from the Board effective August 4, 2021.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

John W. Bosshart was appointed as Interim Chief Financial Officer and Treasurer at OneSpan Inc..

Action: appointed
Role: Interim Chief Financial Officer and Treasurer

Exact text from the filing

the Company announced the appointment of John W. Bosshart as Interim Chief Financial Officer and Treasurer, effective August 2, 2021.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Scott M. Clements departed as President and Chief Executive Officer at OneSpan Inc..

Action: left
Role: President and Chief Executive Officer

Exact text from the filing

Scott M. Clements, the Company’s President and Chief Executive Officer and a director, left the Company (including the Board) effective August 2, 2021.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Steven R. Worth was appointed as Interim President and Chief Executive Officer at OneSpan Inc..

Action: appointed
Role: Interim President and Chief Executive Officer

Exact text from the filing

On August 4, 2021, the Company announced the appointment of Steven R. Worth as Interim President and Chief Executive Officer, effective August 2, 2021.

View on SEC.gov

OneSpan Inc. filing history →

Source: SEC EDGAR

accession 0001558370-21-010196

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