OneSpan Inc. Sees Fiscal Year 2023 Revenue Will Be At The High End Of The Previously Disclosed Range Of $228M-$232M Vs $229.82M Est.
Portfolio Pulse from Benzinga Newsdesk
OneSpan Inc. anticipates its fiscal year 2023 revenue to be at the high end of the $228M-$232M range, exceeding the $229.82M estimate. The company also expects to meet or exceed the high end of the $2M-$4M adjusted EBITDA range. Fiscal year 2023 ARR guidance remains at $148M-$152M, with a revenue growth target of low- to mid-single digits for 2024 and an adjusted EBITDA margin target of 20%-23%. OneSpan aims to improve its operating model to reach a 30% level under the 'Rule of 40' by the end of 2024. The company forecasts a year-end cash balance of $41M-$43M, after accounting for stock repurchases, restructuring payments, and other expenditures.
January 05, 2024 | 1:15 pm
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OneSpan Inc. projects FY2023 revenue at the upper end of its forecast range, likely exceeding analyst estimates, and anticipates strong adjusted EBITDA. The company maintains its ARR guidance and sets growth and margin targets for FY2024, with a focus on operational improvements.
The positive revenue and EBITDA guidance for FY2023, along with the reaffirmed ARR guidance and future targets, suggest a strong financial outlook for OneSpan. This update is likely to instill investor confidence and could lead to a short-term positive impact on OSPN's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100