OneSpan Inc. (OSPN) Financial Statements (2024 and earlier)

Company Profile

Business Address 1 MARINA PARK DRIVE
BOSTON, MA 02210
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7373 - Computer Integrated Systems Design (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments96,50163,38088,39484,28276,70878,661
Cash and cash equivalents96,50163,38088,39484,28276,70878,661
Receivables65,13256,61257,53762,40559,63148,962
Inventory, net of allowances, customer advances and progress billings12,05410,34513,09319,81914,42812,040
Inventory12,05410,34513,09319,81914,42812,040
Prepaid expense6,2227,5947,8376,1984,7333,876
Contract with customer, asset, after allowance for credit loss4,5204,6947,2027,0587,962
Capitalized contract cost  2,1341,222676413
Other current assets10,7839,3566,2566,3465,7054,665
Other undisclosed current assets2,32832,97425,63724,83522,37679,733
Total current assets:197,540187,089207,178211,619191,956227,937
Noncurrent Assets
Operating lease, right-of-use asset8,0229,19711,35610,580
Property, plant and equipment12,68110,75711,83511,4546,2504,776
Intangible assets, net (including goodwill)102,996117,444124,748130,821137,30394,220
Goodwill90,51496,17497,55294,61291,84156,332
Intangible assets, net (excluding goodwill)12,48221,27027,19636,20945,46237,888
Contract with customer, asset, after allowance for credit loss  1951,8773,5653,316
Capitalized contract cost, net     2,150
Deferred income tax assets1,9013,7867,0307,863
Other noncurrent assets11,94213,80311,1798,6688,4005,229
Other undisclosed noncurrent assets     3,4515,460
Total noncurrent assets:137,542155,182168,025172,951160,870109,685
TOTAL ASSETS:335,082342,271375,203384,570352,826337,622
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities45,80433,58230,28542,74737,36231,206
Taxes payable1,1032,6187,7116,9053,673
Employee-related liabilities16,60713,64915,41513,93211,643
Accounts payable17,3578,2045,68410,8357,2028,144
Accrued liabilities28,4477,6688,3348,7869,3237,746
Deferred revenue64,63754,61743,41730,338
Deferred compensation liability3738771,6021,0281,3621,652
Deferred revenue and credits33,295
Contract with customer, liability33,633
Total current liabilities:110,81489,07675,30474,11372,35766,153
Noncurrent Liabilities
Long-term debt and lease obligation:  10,18012,39911,299  
Liabilities, other than long-term debt20,95723,23530,16035,13728,02825,786
Accounts payable and accrued liabilities 2,5655,0546,0956,9587,62012,848
Deferred revenue6,2699,12511,73015,259
Contract with customer, liability10,672
Deferred tax liabilities, net2,661 
Deferred income tax liabilities1,1971,2861,9124,623
Other liabilities2,4847,77010,4238,2977,07512,938
Operating lease, liability8,44210,18012,39911,299
Other undisclosed noncurrent liabilities      7,753
Total noncurrent liabilities:20,95733,41542,55946,43628,02833,539
Total liabilities:131,771122,491117,863120,549100,38599,692
Equity
Equity, attributable to parent203,311219,780257,340264,021252,441237,930
Common stock404040404040
Treasury stock, value(18,222)(12,501)(5,030)   
Additional paid in capital107,305100,25098,81996,10993,31090,307
Accumulated other comprehensive loss(14,550)(11,182)(10,220)(13,295)(13,287)(8,568)
Retained earnings128,738143,173173,731181,167172,378156,151
Total equity:203,311219,780257,340264,021252,441237,930
TOTAL LIABILITIES AND EQUITY:335,082342,271375,203384,570352,826337,622

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues219,006214,481215,691254,570212,280193,291
Revenue, net193,291
Cost of revenue(70,436)(71,546)(63,439)(81,962)(64,813)(58,777)
Cost of goods and services sold(70,436)(71,546)(63,439)(81,962)(64,813) 
Gross profit:148,570142,935152,252172,608147,467134,514
Operating expenses(175,685)(169,063)(157,510)(157,333)(147,443)(128,322)
Operating income (loss):(27,115)(26,128)(5,258)15,275246,192
Nonoperating income (expense)14,827(15)1,8381,7203,7292,653
Investment income, nonoperating (1)4047471,2651,431
Gain, foreign currency transaction, before tax    1,500200464
Other nonoperating income (expense)14,827(14)1,434(527)2,264758
Other undisclosed loss from continuing operations before equity method investments, income taxes    (1,500)(200)(464)
Income (loss) from continuing operations before equity method investments, income taxes:(12,288)(26,143)(3,420)15,4953,5538,381
Other undisclosed income from continuing operations before income taxes595     
Income (loss) from continuing operations before income taxes:(11,693)(26,143)(3,420)15,4953,5538,381
Income tax expense (benefit)(2,741)(4,441)(2,035)(6,706)293(30,780)
Income (loss) from continuing operations:(14,434)(30,584)(5,455)8,7893,846(22,399)
Income (loss) before gain (loss) on sale of properties:(30,584)(5,455)8,7893,846(22,399)
Net income (loss) available to common stockholders, diluted:(14,434)(30,584)(5,455)8,7893,846(22,399)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(14,434)(30,584)(5,455)8,7893,846(22,399)
Other comprehensive income     9553
Comprehensive income (loss):(14,434)(30,584)(5,455)8,7893,941(22,346)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(3,368)(962)3,075(8)(4,814)4,289
Comprehensive income (loss), net of tax, attributable to parent:(17,802)(31,546)(2,380)8,781(873)(18,057)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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