Zacks Investment Research·6 days ago
Here's Why OneSpan (OSPN) Gained But Lagged the Market TodayIn the most recent trading session, OneSpan (OSPN) closed at $14.31, indicating a +1.06% shift from the previous trading day.
OneSpan Inc.(OSPN)Earnings, Financials & Key Ratios
OSPN•NASDAQ
$14.74
7.8× P/E·Price updated Jul 2, 2026
AboutOneSpan Inc., together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity worldwide. The company offers OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Cloud Authentication, a cloud-based multifactor authentication solution that supports a range of authentication options, including biometrics, push notification, and visual cryptograms for transaction data signing, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services. It also provides Mobile Security Suite, a software development kit; Mobile Authenticator Studio, a mobile authenticator that operates as a discrete mobile application; and authentication servers, which enables customers to administer a high level of access control. In addition, it offers Trusted Identity Platform, a cloud platform that simplify and secure user journeys; Intelligent Adaptive Authentication; and Risk Analytics, a comprehensive anti-fraud solution. It sells its solutions through its direct sales force, as well as through distributors, resellers, systems integrators, and original equipment manufacturers. The company was formerly known as VASCO Data Security International, Inc. and changed its name to OneSpan Inc. in May 2018. OneSpan Inc. was founded in 1991 and is headquartered in Chicago, Illinois. OneSpan Inc. was a former subsidiary of Guidewire Software, Inc.Show more
- Revenue$243M
- EBITDA$65M+22.5%
- Net Income$73M+27.7%
- EPS (Diluted)1.90+30.1%
- Gross Margin70.69%-1.5%
- EBITDA Margin26.78%+22.5%
- Operating Margin20.59%+11.8%
- Net Margin29.98%+27.7%
- ROE30.1%-2.0%
OSPN Price & Volume
OneSpan Inc. (OSPN) stock price & volume — 10-year historical chart
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Stagnant Revenue Growth Challenges Software Transition Strategy
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Moderate
Financial:Fortress
Cash Flow:Mixed
Primary Risk:Legacy hardware revenue erosion
Key Thesis Takeaways
- OneSpan faces a critical transition as it attempts to pivot from legacy hardware to a subscription-based software model, yet top-line growth remains trapped in a range between a 4.4% contraction and 12.6% expansion.
- While the company maintains a fortress balance sheet with a negligible 0.02 debt-to-equity ratio, the lack of consistent operational scaling and reliance on non-operating items to inflate net income warrants caution.
- Investors should monitor whether the $128.1 million in goodwill remains sustainable as the firm struggles to capture market share from more agile, cloud-native competitors.
Verdict Logic
while the stock trades at a modest 7.16x EV/EBITDA, the persistent inability to generate consistent top-line growth and the volatility in operating cash flow conversion suggest significant execution risk remains.
OSPN Growth Metrics
OneSpan Inc. (OSPN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years0.07%
5 Years2.43%
3 Years3.55%
TTM1.68%
Profit CAGR
10 Years5.63%
5 Years-
3 Years-
TTM20.38%
EPS CAGR
10 Years6.01%
5 Years-
3 Years-
TTM23.13%
Return on Capital
10 Years1.57%
5 Years1.31%
3 Years9.11%
Last Year19.58%
OSPN Recent Earnings
OneSpan Inc. (OSPN) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
Apr 30, 2026Metric
Actual
Est
EPS
$0.39+8.3%
$0.36
Rev
$66M+5.7%
$62M
Q1 2026
Feb 26, 2026Metric
Actual
Est
EPS
$0.36+20.0%
$0.30
Rev
$63M+5.2%
$60M
Q4 2025
Oct 30, 2025Metric
Actual
Est
EPS
$0.33+17.9%
$0.28
Rev
$57M-4.6%
$60M
Q3 2025
Aug 5, 2025Metric
Actual
Est
EPS
$0.34+25.9%
$0.27
Rev
$60M-0.5%
$60M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 30, 2026 | $0.39vs $0.36+8.3% | $66Mvs $62M+5.7% |
| Q1 2026 | Feb 26, 2026 | $0.36vs $0.30+20.0% | $63Mvs $60M+5.2% |
| Q4 2025 | Oct 30, 2025 | $0.33vs $0.28+17.9% | $57Mvs $60M-4.6% |
| Q3 2025 | Aug 5, 2025 | $0.34vs $0.27+25.9% | $60Mvs $60M-0.5% |
Based on last 12 quarters of dataView full earnings history →
Latest OSPN News
Recent stock market news and headlines for OneSpan Inc. (OSPN)
Zacks Investment Research·6 days ago
OSPN vs. ADYEY: Which Stock Is the Better Value Option?Investors interested in Internet - Software stocks are likely familiar with OneSpan (OSPN) and Adyen N.V. Unsponsored ADR (ADYEY).
Zacks Investment Research·6 days ago
Should Value Investors Buy ONESPAN (OSPN) Stock?Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Zacks Investment Research·Jun 25, 2026
ONESPAN INC (OSPN) Is a Trending Stock: Facts to Know Before Betting on ItZacks.com users have recently been watching OneSpan (OSPN) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Business Wire·Jun 24, 2026
OneSpan Strengthens Go-to-Market Leadership Team to Accelerate GrowthBOSTON--(BUSINESS WIRE)--OneSpan Inc. (NASDAQ: OSPN) today announced the expansion of its go-to-market leadership team with the appointments of two experienced leaders who will help accelerate growth across the company's cybersecurity and digital agreements businesses. The new leaders include: Alex Thurber, who joins as Global Vice President of Alliances and Partnerships Susanne Gurman-Karp, who joins as Global Vice President of Marketing Together, these leaders bring decades of experience buil.
Peers Comparison
Key metrics vs top competitors for OneSpan Inc. (OSPN)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $14.74 | $552.26M | 7.76 | 0% | 29.98% | 30.1% | 3.26% | |
| $143.44 | $5.05B | 26.37 | 10.13% | 29.41% | 37.15% | — | |
| $18.72 | $2B | -40.70 | 32.89% | -10.55% | -13.96% | — | |
| $17.15 | $1.88B | 343.00 | 10.01% | 2.17% | 1.27% | — | |
| $53.19 | $2.45B | 16.83 | -0.85% | 3.22% | 179.66% | — | |
| $144.58 | $15.09B | 57.37 | 15.48% | 26.8% | 165.69% | — |
Compare OSPN vs Peers
OneSpan Inc. (OSPN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
OSPN SEC Filings & Documents
OneSpan Inc. (OSPN) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
Apr 30, 2026·SEC
Material company update
Feb 26, 2026·SEC
Material company update
Oct 30, 2025·SEC
10-K Annual Reports
410-Q Quarterly Reports
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OSPN Frequently Asked Questions
OneSpan Inc. (OSPN) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is OneSpan Inc.'s revenue?
OneSpan Inc. (OSPN) reported $245.8M in revenue for fiscal year 2025. This represents a 1898% increase from $12.3M in 1997.
How fast is OneSpan Inc. growing?
OneSpan Inc. (OSPN) grew revenue by 0.0% over the past year. Growth has been modest.
Is OSPN profitable?
Yes, OneSpan Inc. (OSPN) is profitable, generating $70.0M in net income for fiscal year 2025 (30.0% net margin).
Dividend & Returns
Does OSPN pay dividends?
Yes, OneSpan Inc. (OSPN) pays a dividend with a yield of 3.26%. This makes it attractive for income-focused investors.
What is OSPN's return on equity?
OneSpan Inc. (OSPN) has a return on equity (ROE) of 30.1%. This is excellent, indicating efficient use of shareholder capital.
What is OneSpan Inc.'s free cash flow?
OneSpan Inc. (OSPN) generated $46.6M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.