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Dec 31, 2022
OneSpan Q4 2022 Earnings Report
Reported a decrease in fourth quarter revenue but an increase in subscription revenue, while also redefining the company and ending the year with strong momentum.
Key Takeaways
OneSpan Inc. reported a decrease in fourth quarter revenue by 4% year-over-year to $56.6 million, but an increase in subscription revenue by 28% year-over-year to $23.8 million. The company ended the year with strong momentum, exceeding expectations for revenue and adjusted EBITDA.
Total revenue was $56.6 million, a decrease of 4% compared to $59.2 million for the same quarter of 2021.
Fourth quarter subscription revenue increased 28% year-over-year to $23.8 million.
Net loss was $3.1 million, or $0.08 per diluted share compared to $13.8 million, or $0.35 per diluted share in the same period last year.
ARR increased 12% year-over-year to $138.7 million.
OneSpan
OneSpan
OneSpan Revenue by Segment
Revenue by Segment
Security Solutions Revenue
CapyFin.comDigital Agreements Revenue
CapyFin.com Forward Guidance
For the full year 2023, OneSpan expects revenue to be in the range of $232 million to $242 million, representing a growth rate of 6% - 11%, and ARR to be in the range of $157 million to $164 million, representing a growth rate of 13% - 18%. Adjusted EBITDA is expected to be in the range of $3 million to $6 million.
Positive Outlook
- Revenue to be in the range of $232 million to $242 million, representing a growth rate of 6% - 11%
- ARR to be in the range of $157 million to $164 million, representing a growth rate of 13% - 18%
- Adjusted EBITDA to be in the range of $3 million to $6 million
- Revenue to grow at a 12% - 14% CAGR through 2025
- ARR to grow at a 20% or higher CAGR through 2025
Revenue & Expenses
Visualization of income flow from segment revenue to net income