secwatch.observer — SEC 8-K summary
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Issuer:     OneSpan Inc. (OSPN)
CIK:        0001044777
Form:       8-K
Filed at:   2023-11-08T23:59:59+00:00
Accession:  0001628280-23-037811
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1044777/000162828023037811/0001628280-23-037811-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1044777/000162828023037811/ospn-20231103.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-037811

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer