NASDAQ$OSPN
OneSpan Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported a revenue increase and improved profitability due to cost reduction initiatives.
OneSpan reported a 3% year-over-year increase in revenue to $58.8 million for the third quarter of 2023. The company's focus on operational rigor and cost reduction initiatives led to improved profitability. They also plan to repurchase approximately $20 million of common stock through a modified 'Dutch auction' tender offer.
- 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.
- Net Retention Rate (NRR) was 108%.
Headline financials
Revenue & EPS history
OneSpan · Revenue · Quarterly
$58.8M
Revenue by segment
OneSpan · $58.8M total across 2 segments · Q3 2023
- Security Solutions$45.8M+2.0%77.9%
- Digital Agreements$13M+6.7%22.1%
Forward guidance
OneSpan expects revenue to be in the range of $228 million to $232 million, ARR to be in the range of $148 million to $152 million, and Adjusted EBITDA to be in the range of $2 million to $4 million for the full year 2023. For the full year 2024, OneSpan is targeting revenue growth in the low to mid-single digits and Adjusted EBITDA margin to be in the range of 20% to 23%.
Tailwinds
- Revenue to be in the range of $228 million to $232 million for full year 2023.
- ARR to be in the range of $148 million to $152 million for full year 2023.
- Adjusted EBITDA to be in the range of $2 million to $4 million for full year 2023.
- Targeting revenue growth in the low to mid-single digits for full year 2024.
- Targeting Adjusted EBITDA margin to be in the range of 20% to 23% for full year 2024.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+1.2%
Avg return
Earnings day
-1.2%
Avg return
5 days after
+2.2%
Avg return
30 days after
45%
29 / 65 earnings
Positive
+35.6%
Q3 2014
Best reaction
-37.0%
Q2 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | +4.0% | +25.7% | |
| Q4 2025 | -2.7% | -7.4% | -10.7% | |
| Q3 2025 | -20.3% | -20.3% | -21.3% | |
| Q1 2025 | +2.4% | +6.5% | +8.7% | |
| Q4 2024 | -1.1% | +2.8% | -4.7% | |
| Q3 2024 | +11.9% | +11.9% | +21.5% | |
| Q2 2024 | -1.9% | +0.5% | +8.9% | |
| Q1 2024 | +13.5% | +10.7% | +20.6% | |
| Q4 2023 | +24.5% | +1.3% | +20.5% | |
| Q3 2023 | +9.7% | +18.1% | +20.3% | |
| Q2 2023 | -20.5% | -15.3% | -14.8% | |
| Q1 2023 | -0.3% | +5.4% | +16.7% | |
| Q4 2022 | +26.0% | +43.0% | +28.2% | |
| Q3 2022 | +5.8% | +6.0% | +22.5% | |
| Q2 2022 | -1.3% | -2.5% | -2.0% | |
| Q1 2022 | +1.3% | -15.5% | -3.4% | |
| Q4 2021 | -18.3% | -15.7% | -11.3% | |
| Q3 2021 | +3.4% | +2.6% | -17.0% | |
| Q2 2021 | -25.1% | -24.6% | -22.9% | |
| Q1 2021 | -2.6% | -2.4% | -3.6% | |
| Q4 2020 | -4.9% | -7.6% | -4.0% | |
| Q3 2020 | -17.0% | -13.1% | -7.4% | |
| Q2 2020 | -37.0% | -36.5% | -31.0% | |
| Q1 2020 | +17.6% | +20.3% | +26.4% | |
| Q4 2019 | +10.5% | -9.0% | +4.5% | |
| Q3 2019 | +25.5% | +20.8% | +20.2% | |
| Q2 2019 | -5.8% | -8.7% | -15.2% | |
| Q1 2019 | -16.6% | -18.9% | -24.4% | |
| Q4 2018 | +19.6% | +25.2% | +24.1% | |
| Q3 2018 | -12.8% | -8.5% | -1.1% | |
| Q2 2018 | -9.1% | -20.1% | -9.8% | |
| Q1 2018 | +19.9% | +24.8% | +27.5% | |
| Q4 2017 | -12.2% | -11.5% | -7.9% | |
| Q3 2017 | +11.2% | +12.4% | +10.7% | |
| Q2 2017 | -2.5% | -4.3% | -13.8% | |
| Q1 2017 | -1.1% | +2.2% | +3.3% | |
| Q4 2016 | -11.8% | -13.3% | -12.9% | |
| Q3 2016 | -3.1% | -4.9% | +6.3% | |
| Q2 2016 | -4.6% | -3.3% | +6.9% | |
| Q1 2016 | -1.0% | — | — | |
| Q4 2015 | -0.4% | — | — | |
| Q3 2015 | +7.6% | — | — | |
| Q2 2015 | -18.6% | — | — | |
| Q1 2015 | +4.2% | — | — | |
| Q4 2014 | -2.8% | — | — | |
| Q3 2014 | +35.6% | — | — | |
| Q2 2014 | +12.8% | — | — | |
| Q1 2014 | +34.4% | — | — | |
| Q4 2013 | +18.6% | — | — | |
| Q3 2013 | +2.1% | — | — | |
| Q2 2013 | -6.5% | — | — | |
| Q1 2013 | -0.2% | — | — | |
| Q4 2012 | +1.0% | — | — | |
| Q3 2012 | +0.1% | — | — | |
| Q2 2012 | +26.5% | — | — | |
| Q1 2011 | -1.7% | — | — | |
| Q1 2012 | +0.0% | — | — | |
| Q4 2011 | +2.2% | — | — | |
| Q4 2009 | +2.2% | — | — | |
| Q3 2010 | -6.6% | — | — | |
| Q3 2011 | -6.6% | — | — | |
| Q4 2010 | -0.6% | — | — | |
| Q2 2010 | -0.6% | — | — | |
| Q2 2011 | -0.6% | — | — | |
| Q1 2010 | +4.2% | — | — |
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