---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-037811"
form_type: "8-K"
ticker: "OSPN"
cik: "0001044777"
company_name: "OneSpan Inc."
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T08:33:50.672958+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# OneSpan Q3 rev $58.8M (+3%), ARR $149.8M (+10%), guides up; $20M buyback; CAO leaving

## Summary
- Q3 revenue $58.8M (+3% YoY); subscription revenue $26.2M (+18%); ARR $149.8M (+10%); NRR 108%.
- Net loss $4.1M ($0.10/share) improved from $7.2M loss; Non-GAAP net income $3.6M ($0.09); Adjusted EBITDA $6.3M vs $4.5M.
- Raises FY2023 revenue guide to $228-232M and Adj EBITDA guide to $2-4M; FY2024 targets low-mid single digit rev growth, 20-23% Adj EBITDA margin.
- Plans $20M modified Dutch auction tender offer (part of May 2022 repurchase program); announcement expected next week.
- CAO John Bosshart to leave Dec 1 (not due to accounting disputes); CFO Jorge Martell to serve as principal accounting officer.

## SEC filing metadata
- accession: 0001628280-23-037811
- form_type: 8-K
- ticker: OSPN
- cik: 0001044777
- company_name: OneSpan Inc.
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1044777/000162828023037811/0001628280-23-037811-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1044777/000162828023037811/ospn-20231103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-037811
- JSON: https://secwatch.observer/filing/0001628280-23-037811.json
- Plain text: https://secwatch.observer/filing/0001628280-23-037811.txt

## Key facts
- Earnings Releases
  OneSpan Inc. reported the third quarter ended September 30, 2023 results: revenue $58.8 million, net income $(4.1) million, or $(0.10) per diluted share, EPS $(0.10) per diluted share. Guidance raised.
  - Period: the third quarter ended September 30, 2023
  - Revenue: $58.8 million
  - Net income: $(4.1) million, or $(0.10) per diluted share
  - EPS: $(0.10) per diluted share
  - Guidance: raised
  - Result: reported results
  source text: a filing. --- EX-99.1 (EX-99.1) --- OneSpan Reports Third Quarter 2023 Financial Results Third Quarter Financial Results • Third quarter revenue grew 3% year-over-year to $58.8 million • Third quarter subscription revenue grew 18% year-over-year to $26.2 million • Annual Recurring Revenue (ARR) grew 10% year-over-year to $149.8 million 1 • Net Retention Rate
  evidence_url: https://www.sec.gov/Archives/edgar/data/1044777/000162828023037811/0001628280-23-037811-index.htm
- Executive change
  John Bosshart departed as Chief Accounting Officer at OneSpan Inc..
  - Action: leave
  - Role: Chief Accounting Officer
  source text: On November 3, 2023, the Company and John Bosshart, the Company’s Chief Accounting Officer, agreed in connection with the Company’s cost reduction initiatives that Mr. Bosshart will leave the Company effective December 1, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1044777/000162828023037811/0001628280-23-037811-index.htm
- Executive change
  Jorge Martell changed role as Chief Financial Officer and Principal Accounting Officer at OneSpan Inc..
  - Action: will serve as
  - Role: Chief Financial Officer and Principal Accounting Officer
  source text: Jorge Martell, the Company’s Chief Financial Officer, will serve as the Company’s principal accounting officer effective upon Mr. Bosshart’s departure.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1044777/000162828023037811/0001628280-23-037811-index.htm

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