OneSpan Q3 revenue up 9% to $57.1M, GAAP loss widens; ARR guidance cut to 12-13%

OneSpan Inc.

2022-Q3 EPS reported -$0.28 revenue$162,384,000

Revenue $57.1M (+9% YoY); ARR $135.8M (+14%); Digital Agreements rev $12.2M (+20%).
GAAP net loss $7.2M ($0.18/sh) vs $1.0M loss; non-GAAP net income $1.3M ($0.03/sh).
Adjusted EBITDA $4.5M vs $1.7M; cash $93.6M.
FY2022 ARR growth guidance cut to 12-13% from 16-18% due to FX and macro headwinds.
Adjusted EBITDA guidance raised to $1M-$3M from negative $5M-$7M range.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OneSpan Inc. reported the third quarter ended September 30, 2022 results: revenue $57.1 million, net income $7.2 million, or $0.18 per diluted share, EPS $0.18 per diluted share. Guidance lowered.

Period: the third quarter ended September 30, 2022
Revenue: $57.1 million
Net income: $7.2 million, or $0.18 per diluted share
EPS: $0.18 per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

OneSpan Reports Third Quarter 2022 Financial Results ● Total revenue grew 9% year-over-year to $57.1 million; Total subscription revenue grew 25% to $22.3 million ● Annual Recurring Revenue (ARR) grew 14% to $135.8 million 1 ● Dollar-based net expansion (DBNE) rate of 109% 2 CHICAGO, November 1, 2022 – OneSpan Inc. (NASDAQ: OSPN), the digital agreements security company, today reported financial results for the third quarter ended September 30, 2022.

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Source: SEC EDGAR

accession 0001558370-22-015794

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