secwatch.observer — SEC 8-K summary
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Issuer:     OneSpan Inc. (OSPN)
CIK:        0001044777
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001628280-24-019981
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OneSpan Q1 revenue $64.8M (+13% YoY); raises FY2024 Adj. EBITDA guidance to $51-55M
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- Revenue $64.8M (+13% YoY); subscription revenue $40.0M (+34%); ARR $154.6M (+9%), NRR 107%.
- Net income $13.5M ($0.35 diluted EPS) vs net loss $8.4M in Q1 2023; non-GAAP EPS $0.43.
- Adjusted EBITDA $19.8M vs $(1.6)M; cash $63.9M, up from $42.5M at Dec 2023.
- FY2024 guidance raised: revenue $238-246M, ARR $160-168M, Adj. EBITDA $51-55M (prev. $47-52M).
- Interim CEO cites additional $10M annualized cost savings; confident of exceeding prior EBITDA guidance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1044777/000162828024019981/0001628280-24-019981-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1044777/000162828024019981/ospn-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-019981

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