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- OneSpan (NASDAQ:OSPN) fell 2.80% Friday pre-market after the software company announced interim CEO appointment and updated guidance.
- Victor Limongelli has been appointed interim CEO, effective immediately.
- Limongelli, who replaces Matthew Moynahan, most recently served as CEO at the SaaS company BQE Software.
- Additionally, OneSpan said it now expects 2023 revenue to be at the high end of the previously disclosed range of $228M-$232M, vs. consensus of $229.83M.
- 2023 adjusted EBITDA is expected to come in at or exceed the high end of the previously disclosed range of $2M-$4M.
- Also, the company reiterated its 2023 ARR guidance of $148M-$152M, 2024 revenue target of low- to mid-single digits growth over 2023 revenue and 2024 adjusted EBITDA margin target of 20%-23%.
- The company said cash, cash equivalents and short-term investments balance at 2023-end is expected to be between $41M and $43M.
- Source: Press Release
