secwatch.observer — SEC 8-K summary
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Issuer:     OneSpan Inc. (OSPN)
CIK:        0001044777
Form:       8-K
Filed at:   2022-05-03T23:59:59+00:00
Accession:  0001558370-22-006800
Event type: earnings
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OneSpan Q1 revenue $52.4M (+3% YoY), GAAP net income $5.2M vs loss, recurring revenue +22%
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- Total revenue $52.4M, up 3% YoY; recurring revenue $35.2M, up 22% YoY; ARR $130.7M, up 21% YoY.
- GAAP net income $5.2M ($0.13 diluted EPS) vs net loss $9.2M ($0.23 loss) in Q1 2021.
- Adjusted EBITDA $0.2M, up from negative $5.3M in Q1 2021; Non-GAAP net loss $0.3M ($0.01 loss per share).
- Gain on sale of Promon AS investment of $14.8M contributed to other income; cash and short-term investments $119.9M.
- Outlook: FY2022 revenue to meet or exceed FY2021; adjusted EBITDA guidance to be finalized at Investor Day on May 17.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1044777/000155837022006800/0001558370-22-006800-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1044777/000155837022006800/ospn-20220503x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-006800

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