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OneSpan Inc.

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Key Metrics

Previous Close: $15.77
52-Week Range: $10.07 – $18.48
Market Cap: $574.53M
P/E (TTM): 8.81
EPS (TTM): 1.77
Dividend Yield: 3.34%

Advanced Metrics

Price/Book: 2.10
PEG Ratio: 1.17
Return on Equity: 26.51%
Return on Assets: 7.83%
Gross Margin: 73.91%
Operating Margin: 14.51%
Profit Margin: 27.76%
Current Ratio: 1.33
Debt/Equity: 0.05
Total Debt: $12.42M
Free Cash Flow: $32.77M
Revenue Growth: 1.00%
Earnings Growth: -14.30%
Enterprise Value: $543.61M

OSPN Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$219.01M	$235.11M	$243.18M	$243.18M
Cost of Revenue	$70.44M	$77.39M	$68.60M	$63.83M
Gross Profit	$148.57M	$157.72M	$174.58M	$179.35M
Research & Development	$41.73M	$38.42M	$32.42M	$34.16M
Selling, General & Admin	$116.50M	$128.50M	$90.55M	$92.64M
Operating Expenses	$162.38M	$169.28M	$125.33M	$129.28M
Operating Income	-$13.80M	-$11.56M	$49.25M	$50.07M
EBITDA	-$6.74M	-$5.08M	$57.61M	$60.14M
Pretax Income	-$11.69M	-$27.31M	$46.49M	$49.36M
Income Tax	$2.74M	$2.49M	-$10.60M	-$23.54M
Net Income	-$14.43M	-$29.80M	$57.08M	$72.90M
Diluted EPS	-0.36	-0.74	1.46	1.88
Diluted Shares	40.14M	40.19M	39.09M	38.88M

OSPN Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$96.17M	$43.00M	$83.16M	$70.50M
Receivables	$69.65M	$69.53M	$64.92M	$74.27M
Inventory	$12.05M	$15.55M	$10.79M	$10.47M
Current Assets	$198.39M	$146.34M	$174.89M	$172.21M
Total Assets	$335.08M	$289.19M	$338.73M	$397.70M
Current Liabilities	$110.81M	$114.83M	$110.28M	$114.57M
Total Debt	$8.44M	$6.82M	$6.93M	$6.14M
Total Liabilities	$131.77M	$130.05M	$126.20M	$125.86M
Retained Earnings	$128.74M	$98.94M	$151.26M	$209.82M
Shareholders' Equity	$203.31M	$159.14M	$212.53M	$271.84M
Working Capital	$87.57M	$31.51M	$64.62M	$57.64M

OSPN Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$5.76M	-$10.73M	$55.67M	$59.45M
Capital Expenditure	-$5.03M	-$12.54M	-$9.30M	-$9.04M
Free Cash Flow	-$10.78M	-$23.28M	$46.36M	$50.41M
Depreciation & Amortisation	$7.07M	$6.48M	$8.36M	$10.07M
Stock-Based Compensation	$8.64M	$14.25M	$8.96M	$11.20M
Investing Cash Flow	$46.59M	-$12.01M	-$9.30M	-$35.58M
Financing Cash Flow	-$7.31M	-$32.09M	-$5.24M	-$38.42M
Dividends Paid	—	$0.00	$0.00	-$18.46M
Share Repurchases	-$5.72M	-$29.16M	—	—
Net Change in Cash	$33.52M	-$54.84M	$41.12M	-$14.55M

OSPN Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$63.37M	$59.84M	$57.06M	$62.91M	$65.95M
Cost of Revenue	$16.27M	$15.88M	$15.05M	$16.62M	$17.43M
Gross Profit	$47.09M	$43.97M	$42.00M	$46.29M	$48.51M
Research & Development	$7.93M	$9.44M	$8.80M	$7.99M	$9.08M
Selling, General & Admin	$21.00M	$23.28M	$23.54M	$24.81M	$23.64M
Operating Expenses	$29.49M	$33.41M	$33.08M	$33.30M	$33.41M
Operating Income	$17.60M	$10.55M	$8.92M	$12.99M	$15.10M
EBITDA	$19.73M	$13.01M	$11.49M	$15.91M	$18.23M
Pretax Income	$17.86M	$10.57M	$8.41M	$12.52M	$14.41M
Income Tax	$3.36M	$2.23M	$1.89M	-$31.02M	$2.85M
Net Income	$14.51M	$8.34M	$6.51M	$43.54M	$11.56M
Diluted EPS	0.37	0.21	0.17	1.13	0.30
Diluted Shares	39.03M	39.01M	38.77M	38.47M	38.07M

OSPN Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$105.21M	$92.89M	$85.55M	$70.50M	$49.75M
Receivables	$40.18M	$49.43M	$44.20M	$74.27M	$46.79M
Inventory	$11.03M	$11.45M	$11.24M	$10.47M	$9.14M
Current Assets	$170.56M	$169.48M	$157.53M	$172.21M	$122.88M
Total Assets	$333.81M	$357.10M	$343.52M	$397.70M	$383.15M
Current Liabilities	$87.04M	$95.58M	$90.03M	$114.57M	$98.00M
Total Debt	$8.90M	$9.41M	$8.78M	$6.14M	$7.96M
Total Liabilities	$102.69M	$114.59M	$105.20M	$125.86M	$111.13M
Retained Earnings	$165.75M	$169.24M	$170.94M	$209.82M	$216.42M
Shareholders' Equity	$231.12M	$242.51M	$238.32M	$271.84M	$272.02M
Working Capital	$83.52M	$73.91M	$67.50M	$57.64M	$24.88M

OSPN Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$29.37M	$6.22M	$11.30M	$12.57M	$28.17M
Capital Expenditure	-$1.65M	-$1.84M	-$2.58M	-$2.97M	-$3.20M
Free Cash Flow	$27.72M	$4.37M	$8.72M	$9.60M	$24.97M
Depreciation & Amortisation	$2.13M	$2.46M	$2.57M	$2.92M	$3.13M
Stock-Based Compensation	$2.78M	$3.45M	$3.37M	$1.59M	$1.88M
Investing Cash Flow	-$1.65M	-$13.89M	-$4.47M	-$15.57M	-$37.75M
Financing Cash Flow	-$5.91M	-$6.25M	-$14.16M	-$12.10M	-$11.37M
Dividends Paid	-$4.59M	-$4.61M	-$4.68M	-$4.58M	-$4.99M
Share Repurchases	$0.00	—	—	—	-$5.40M
Net Change in Cash	$21.81M	-$13.93M	-$7.33M	-$15.10M	-$20.95M

Market Snapshot

About

OneSpan Inc. provides digital identity, security, and e-signature solutions for banking, healthcare, and government sectors, offering multifactor authentication, fraud detection, and secure transaction signing platforms.