---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-028554"
form_type: "8-K"
ticker: "OSPN"
cik: "0001044777"
company_name: "OneSpan Inc."
filed_at: "2023-08-09T23:59:59+00:00"
generated_at: "2026-06-11T21:11:36.183866+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# OneSpan Q2 2023 revenue $55.7M (+6%), net loss wider at $17.8M; cuts FY guidance, approves restructuring

## Summary
- Q2 revenue $55.7M (+6% YoY); subscription rev $23.0M (+16%). Net loss $17.8M (-$0.44/diluted) vs $9.4M loss a year ago.
- Adjusted EBITDA -$3.8M vs -$1.5M a year ago. Full-year 2023 revenue guidance cut to $226M-232M (prev $232M-242M).
- Board approves $15M-20M restructuring charges for workforce reductions, targeting $30M annual savings by end 2025.
- Combined with prior plan, savings expected $50M-55M; targeting FY2024 adjusted EBITDA margin of 20%-23%.
- ARR grew 8% to $144.4M; Net Retention Rate 106%.

## SEC filing metadata
- accession: 0001628280-23-028554
- form_type: 8-K
- ticker: OSPN
- cik: 0001044777
- company_name: OneSpan Inc.
- filed_at: 2023-08-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1044777/000162828023028554/0001628280-23-028554-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1044777/000162828023028554/ospn-20230803.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-028554
- JSON: https://secwatch.observer/filing/0001628280-23-028554.json
- Plain text: https://secwatch.observer/filing/0001628280-23-028554.txt

## Key facts
- Earnings Releases
  OneSpan Inc. reported the second quarter ended June 30, 2023 results: revenue $55.7 million, net income $(0.44) per diluted share. Guidance reaffirmed.
  - Period: the second quarter ended June 30, 2023
  - Revenue: $55.7 million
  - Net income: $(0.44) per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: Second Quarter 2023 Financial Results; Accelerates Plan to Drive Adjusted EBITDA Growth Second Quarter Financial Results • Second quarter revenue grew 6% year-over-year to $55.7 million • Second quarter subscription revenue grew 16% year-over-year to $23.0 million • Annual Recurring Revenue (ARR) grew 8% year-over-year to $144.4 million 1 • Net Retention Rate
  evidence_url: https://www.sec.gov/Archives/edgar/data/1044777/000162828023028554/0001628280-23-028554-index.htm
- Restructurings & Charges
  OneSpan Inc. announced a restructuring with charges of from $15 million to $20 million.
  - Type: restructuring
  - Charge: from $15 million to $20 million
  source text: The Company preliminarily estimates that it will incur from $15 million to $20 million i n restructuring charges associated with the additional cost reduction actions.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1044777/000162828023028554/0001628280-23-028554-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.