OneSpan Inc
NASDAQ:OSPN
Income Statement
Earnings Waterfall
OneSpan Inc
Revenue
|
235.1m
USD
|
Cost of Revenue
|
-77.4m
USD
|
Gross Profit
|
157.7m
USD
|
Operating Expenses
|
-169.3m
USD
|
Operating Income
|
-11.6m
USD
|
Other Expenses
|
-18.2m
USD
|
Net Income
|
-29.8m
USD
|
Income Statement
OneSpan Inc
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
155
N/A
|
159
+2%
|
169
+7%
|
182
+8%
|
202
+10%
|
228
+13%
|
246
+8%
|
253
+3%
|
241
-5%
|
223
-8%
|
212
-5%
|
196
-8%
|
192
-2%
|
188
-2%
|
179
-5%
|
186
+4%
|
193
+4%
|
197
+2%
|
201
+2%
|
202
+1%
|
211
+5%
|
213
+1%
|
220
+3%
|
247
+12%
|
254
+3%
|
263
+4%
|
262
0%
|
233
-11%
|
216
-8%
|
210
-3%
|
207
-1%
|
208
+0%
|
215
+3%
|
216
+1%
|
217
+0%
|
222
+2%
|
219
-1%
|
224
+2%
|
227
+1%
|
229
+1%
|
235
+3%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(55)
|
(56)
|
(59)
|
(62)
|
(76)
|
(90)
|
(101)
|
(107)
|
(98)
|
(85)
|
(76)
|
(66)
|
(62)
|
(59)
|
(55)
|
(56)
|
(59)
|
(57)
|
(57)
|
(61)
|
(65)
|
(70)
|
(74)
|
(83)
|
(86)
|
(86)
|
(86)
|
(75)
|
(68)
|
(68)
|
(67)
|
(68)
|
(72)
|
(74)
|
(74)
|
(77)
|
(70)
|
(73)
|
(77)
|
(77)
|
(77)
|
|
Gross Profit |
100
N/A
|
103
+3%
|
110
+7%
|
120
+10%
|
126
+4%
|
138
+9%
|
145
+5%
|
146
+0%
|
144
-1%
|
138
-4%
|
136
-1%
|
130
-5%
|
131
+1%
|
128
-2%
|
124
-4%
|
131
+5%
|
135
+3%
|
139
+4%
|
143
+3%
|
141
-1%
|
147
+4%
|
143
-2%
|
145
+2%
|
164
+13%
|
168
+3%
|
177
+6%
|
176
-1%
|
158
-10%
|
148
-7%
|
142
-4%
|
140
-1%
|
141
+0%
|
143
+2%
|
142
-1%
|
143
+0%
|
145
+1%
|
149
+3%
|
151
+2%
|
150
-1%
|
152
+1%
|
158
+4%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(86)
|
(88)
|
(89)
|
(91)
|
(88)
|
(87)
|
(87)
|
(88)
|
(93)
|
(100)
|
(111)
|
(117)
|
(121)
|
(122)
|
(121)
|
(123)
|
(128)
|
(132)
|
(137)
|
(144)
|
(147)
|
(152)
|
(153)
|
(152)
|
(154)
|
(156)
|
(154)
|
(156)
|
(153)
|
(157)
|
(163)
|
(163)
|
(169)
|
(166)
|
(163)
|
(162)
|
(162)
|
(166)
|
(171)
|
(172)
|
(169)
|
|
Selling, General & Administrative |
(62)
|
(62)
|
(63)
|
(65)
|
(65)
|
(65)
|
(65)
|
(66)
|
(71)
|
(76)
|
(84)
|
(87)
|
(89)
|
(89)
|
(89)
|
(91)
|
(96)
|
(100)
|
(104)
|
(106)
|
(105)
|
(105)
|
(103)
|
(100)
|
(102)
|
(105)
|
(104)
|
(106)
|
(103)
|
(106)
|
(110)
|
(110)
|
(116)
|
(113)
|
(110)
|
(112)
|
(117)
|
(123)
|
(131)
|
(132)
|
(129)
|
|
Research & Development |
(21)
|
(22)
|
(21)
|
(21)
|
(19)
|
(18)
|
(17)
|
(17)
|
(18)
|
(18)
|
(20)
|
(22)
|
(23)
|
(24)
|
(24)
|
(23)
|
(23)
|
(23)
|
(25)
|
(28)
|
(32)
|
(37)
|
(41)
|
(42)
|
(43)
|
(42)
|
(41)
|
(41)
|
(41)
|
(43)
|
(45)
|
(46)
|
(47)
|
(47)
|
(47)
|
(45)
|
(42)
|
(39)
|
(37)
|
(38)
|
(38)
|
|
Depreciation & Amortization |
(3)
|
(4)
|
(4)
|
(5)
|
(5)
|
(5)
|
(5)
|
(4)
|
(5)
|
(6)
|
(7)
|
(8)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(10)
|
(10)
|
(10)
|
(10)
|
(9)
|
(9)
|
(9)
|
(9)
|
(8)
|
(8)
|
(7)
|
(6)
|
(6)
|
(5)
|
(5)
|
(4)
|
(3)
|
(3)
|
(2)
|
(2)
|
|
Operating Income |
14
N/A
|
15
+9%
|
21
+39%
|
29
+43%
|
38
+30%
|
50
+32%
|
58
+16%
|
58
-1%
|
51
-13%
|
38
-26%
|
25
-33%
|
13
-50%
|
10
-24%
|
7
-29%
|
3
-56%
|
7
+140%
|
6
-14%
|
8
+22%
|
6
-23%
|
(2)
N/A
|
(0)
+83%
|
(9)
-2 050%
|
(8)
+4%
|
12
N/A
|
14
+19%
|
21
+48%
|
22
+3%
|
2
-90%
|
(5)
N/A
|
(15)
-190%
|
(23)
-47%
|
(22)
+2%
|
(26)
-18%
|
(23)
+10%
|
(20)
+14%
|
(17)
+14%
|
(14)
+20%
|
(15)
-6%
|
(21)
-43%
|
(20)
+4%
|
(12)
+43%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
0
|
0
|
0
|
(1)
|
(1)
|
(2)
|
(2)
|
(1)
|
2
|
3
|
3
|
3
|
1
|
1
|
1
|
1
|
2
|
2
|
2
|
2
|
1
|
(0)
|
(0)
|
(2)
|
(1)
|
0
|
0
|
1
|
1
|
0
|
1
|
1
|
0
|
15
|
14
|
13
|
14
|
(0)
|
1
|
3
|
16
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(3)
|
(5)
|
(12)
|
(13)
|
(11)
|
(15)
|
(15)
|
(17)
|
|
Total Other Income |
0
|
0
|
0
|
1
|
1
|
1
|
1
|
1
|
(1)
|
(2)
|
(1)
|
(2)
|
1
|
1
|
1
|
1
|
0
|
0
|
2
|
2
|
3
|
3
|
1
|
1
|
1
|
0
|
1
|
1
|
1
|
2
|
1
|
1
|
(0)
|
1
|
1
|
0
|
2
|
1
|
0
|
1
|
(14)
|
|
Pre-Tax Income |
14
N/A
|
16
+10%
|
21
+37%
|
29
+38%
|
38
+29%
|
49
+30%
|
58
+17%
|
58
+1%
|
51
-13%
|
39
-24%
|
26
-32%
|
14
-47%
|
11
-18%
|
9
-25%
|
5
-41%
|
9
+79%
|
8
-8%
|
10
+19%
|
9
-12%
|
1
-90%
|
3
+192%
|
(6)
N/A
|
(7)
-14%
|
11
N/A
|
14
+29%
|
22
+50%
|
22
+3%
|
5
-78%
|
(3)
N/A
|
(14)
-305%
|
(21)
-49%
|
(21)
-1%
|
(26)
-26%
|
(10)
+61%
|
(11)
-10%
|
(16)
-44%
|
(12)
+27%
|
(26)
-120%
|
(34)
-32%
|
(31)
+8%
|
(27)
+13%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(3)
|
(3)
|
(4)
|
(4)
|
(5)
|
(7)
|
(8)
|
(9)
|
(9)
|
(8)
|
(7)
|
(5)
|
(1)
|
0
|
1
|
(1)
|
(3)
|
(3)
|
(3)
|
1
|
(3)
|
(2)
|
(2)
|
(8)
|
(7)
|
(8)
|
(8)
|
(4)
|
(2)
|
(1)
|
1
|
2
|
(4)
|
(6)
|
(8)
|
(9)
|
(3)
|
(2)
|
(2)
|
(2)
|
(2)
|
|
Income from Continuing Operations |
11
|
12
|
17
|
25
|
33
|
43
|
50
|
50
|
42
|
31
|
20
|
9
|
11
|
9
|
6
|
8
|
6
|
7
|
6
|
2
|
0
|
(8)
|
(9)
|
3
|
8
|
14
|
14
|
1
|
(6)
|
(15)
|
(19)
|
(19)
|
(31)
|
(16)
|
(19)
|
(25)
|
(14)
|
(28)
|
(36)
|
(33)
|
(30)
|
|
Net Income (Common) |
11
N/A
|
12
+6%
|
17
+43%
|
25
+46%
|
34
+35%
|
44
+30%
|
51
+16%
|
51
+0%
|
42
-17%
|
31
-27%
|
20
-36%
|
9
-54%
|
11
+17%
|
9
-15%
|
6
-31%
|
8
+37%
|
(22)
N/A
|
(21)
+5%
|
(22)
-5%
|
(26)
-16%
|
3
N/A
|
(5)
N/A
|
(6)
-31%
|
6
N/A
|
8
+23%
|
14
+76%
|
14
+3%
|
1
-94%
|
(6)
N/A
|
(15)
-166%
|
(19)
-32%
|
(19)
+4%
|
(31)
-65%
|
(16)
+47%
|
(19)
-16%
|
(25)
-33%
|
(14)
+43%
|
(28)
-95%
|
(36)
-30%
|
(33)
+8%
|
(30)
+11%
|
|
EPS (Diluted) |
0.29
N/A
|
0.32
+10%
|
0.44
+38%
|
0.63
+43%
|
0.83
+32%
|
1.09
+31%
|
1.27
+17%
|
1.27
N/A
|
1.06
-17%
|
0.78
-26%
|
0.5
-36%
|
0.23
-54%
|
0.26
+13%
|
0.22
-15%
|
0.15
-32%
|
0.21
+40%
|
-0.56
N/A
|
-0.52
+7%
|
-0.55
-6%
|
-0.65
-18%
|
0.07
N/A
|
-0.12
N/A
|
-0.15
-25%
|
0.16
N/A
|
0.2
+25%
|
0.35
+75%
|
0.36
+3%
|
0.02
-94%
|
-0.14
N/A
|
-0.36
-157%
|
-0.48
-33%
|
-0.46
+4%
|
-0.77
-67%
|
-0.41
+47%
|
-0.47
-15%
|
-0.63
-34%
|
-0.36
+43%
|
-0.7
-94%
|
-0.91
-30%
|
-0.83
+9%
|
-0.74
+11%
|