OneSpan Inc. OSPN
OneSpan helps organizations build secure, seamless, and trusted digital experiences through two solution portfolios: Cybersecurity and Digital Agreements. Our cybersecurity solutions protect identities, secure mobile apps, and safeguard access through advanced high-assurance authentication, threat intelligence, fraud prevention, and robust mobile app protection, defending users, devices, and applications against sophisticated attacks. Our digital agreement solutions streamline agreement workflows with secure e-signatures, identity verification, and smart digital forms, built to enable speed, compliance and exceptional customer experiences. Trusted by leading global enterprises, including more than 60% of the world's 100 largest banks, OneSpan processes over 100 million digital agreements and billions of secure authentication transactions across more than 120 countries each year.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- Emea
- Americas
- Apac
| Region | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Emea | $102.6M | $108.6M | $111.6M |
| Americas | $95.7M | $86.8M | $80.1M |
| Apac | $44.9M | $47.8M | $43.5M |
As the company reported it, from the “Geographic, Customer and Supplier Information - Sales details of customers locations in four geographic regions (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Revenue by segment
- Cybersecurity
- Digital Agreements
| Segment | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Cybersecurity | $177.7M | $182.2M | $184.2M |
| Digital Agreements | $65.5M | $61.0M | $50.9M |
As the company reported it, from the “Segment Information - Sales Details of Customers Locations in Four Geographic Regions (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $243.2M | $243.2M | $235.1M | $219.0M | $214.5M | $215.7M | $253.5M | $211.3M | $193.3M | $192.3M |
| Cost of revenue | $63.8M | $68.6M | $77.4M | $70.4M | $71.5M | $67.6M | $85.6M | $64.8M | $58.8M | $61.6M |
| Gross profit | $179.4M | $174.6M | $157.7M | $148.6M | $142.9M | $148.1M | $167.8M | $146.5M | $134.5M | $130.7M |
| R&D | $34.2M | $32.4M | $38.4M | $41.7M | $47.4M | $41.2M | $42.5M | $32.2M | $23.1M | $23.2M |
| SG&A | $45.7M | $46.0M | $58.3M | $55.6M | $53.0M | $46.3M | $43.9M | $41.6M | $37.4M | $31.6M |
| Total operating expenses | $130.9M | $129.8M | $186.6M | $175.7M | $169.1M | $153.3M | $153.6M | $147.4M | $128.3M | $121.1M |
| Operating income | $48.4M | $44.8M | -$28.9M | -$27.1M | -$26.1M | -$5.3M | $14.2M | -$920.0K | $6.2M | $9.6M |
| Interest expense | — | — | — | — | — | — | — | — | — | $785.0K |
| Pre-tax income | $49.4M | $46.5M | -$27.3M | -$11.7M | -$26.1M | -$3.4M | $14.4M | $2.6M | $8.4M | $11.4M |
| Income tax | $23.5M | $10.6M | $2.5M | $2.7M | $4.4M | $2.0M | $6.5M | $435.0K | $30.8M | $863.0K |
| Net income | $72.9M | $57.1M | -$29.8M | -$14.3M | -$30.6M | -$5.5M | $7.9M | $3.0M | -$22.4M | $10.5M |
| EPS, basic | 1.91 | 1.49 | -0.74 | -0.36 | -0.77 | -0.14 | 0.20 | 0.08 | -0.56 | 0.27 |
| EPS, diluted | 1.88 | 1.46 | -0.74 | -0.36 | -0.77 | -0.14 | 0.20 | 0.08 | -0.56 | 0.27 |
| Shares, diluted (wtd. avg.) | 38.9M | 39.1M | 40.2M | 40.1M | 39.6M | 40.0M | 40,136 | 40.0M | 39.8M | 39.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $70.5M | $83.2M | $43.5M | $97.4M | $64.2M | $89.2M | $85.1M | $77.6M | $78.7M | $49.3M |
| Short-term investments | — | — | — | — | — | — | — | — | — | $94.9M |
| Receivables | $56.0M | $56.2M | $64.4M | $65.1M | $56.6M | $57.5M | $62.4M | $59.6M | $48.1M | $36.7M |
| Inventory | $10.5M | $10.8M | $15.6M | $12.1M | $10.3M | $13.1M | $19.8M | $14.4M | $12.0M | $17.4M |
| Total current assets | $172.2M | $174.9M | $146.3M | $198.4M | $187.1M | $207.2M | $209.8M | $192.0M | $227.9M | $207.2M |
| Property, plant and equipment | $22.2M | $21.0M | $18.7M | $12.7M | $10.8M | $11.8M | $11.5M | $6.2M | $4.8M | $3.3M |
| Goodwill | $103.8M | $92.4M | $93.7M | $90.5M | $96.2M | $97.6M | $94.6M | $91.8M | $56.3M | $54.4M |
| Other intangibles | $9.7M | $7.5M | $10.8M | $12.5M | $21.3M | $27.2M | $36.2M | $45.5M | $37.9M | $46.5M |
| Total assets | $397.7M | $338.7M | $289.2M | $335.1M | $342.3M | $375.2M | $382.5M | $352.8M | $337.6M | $327.3M |
| Accounts payable | $13.7M | $13.3M | $17.5M | $17.4M | $8.2M | $5.7M | $10.8M | $7.2M | $8.1M | $8.9M |
| Total current liabilities | $114.6M | $110.3M | $114.8M | $110.8M | $89.1M | $75.3M | $73.8M | $72.4M | $66.2M | $68.0M |
| Total liabilities | $125.9M | $126.2M | $130.1M | $131.8M | $122.5M | $117.9M | $120.2M | $100.4M | $99.7M | $74.1M |
| Retained earnings | $209.8M | $151.3M | $98.9M | $128.7M | $143.2M | $173.7M | $179.4M | $172.4M | $156.2M | $178.6M |
| Total equity | $271.8M | $212.5M | $159.1M | $203.3M | $219.8M | $257.3M | $262.3M | $251.6M | $237.9M | $253.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $59.5M | $55.7M | -$10.7M | -$5.8M | -$2.7M | $14.9M | $18.2M | $1.2M | $17.6M | $28.4M |
| Depreciation and amortisation | $10.1M | $8.4M | $6.5M | $7.1M | $8.9M | $12.0M | $11.5M | $12.1M | $10.6M | $10.8M |
| Stock-based compensation | $11.2M | $9.0M | $14.3M | $8.6M | $4.4M | $4.7M | $3.4M | $4.0M | $3.5M | $2.8M |
| Capital expenditure | $9.0M | $9.2M | $12.5M | $5.0M | $2.2M | $3.1M | $7.5M | $3.7M | $3.1M | $2.0M |
| Investing cash flow | -$35.6M | -$9.3M | -$12.0M | $46.6M | -$11.0M | -$4.7M | -$9.9M | $194.0K | $12.8M | -$56.5M |
| Financing cash flow | -$38.4M | -$5.2M | -$32.1M | -$7.3M | -$10.4M | -$7.1M | -$569.0K | -$970.0K | -$640.0K | -$1.1M |
| Dividends paid | $18.5M | $0 | $0 | — | — | — | — | — | — | — |
| Buybacks | $13.1M | $3.0K | $29.2M | $5.7M | $7.5M | $5.0M | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001044777-26-000011.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $192.3M | $193.3M | $211.3M | $253.5M | $215.7M | $214.5M | $219.0M | $235.1M | $243.2M | $243.2M |
| Gross profit | $130.7M | $134.5M | $146.5M | $167.8M | $148.1M | $142.9M | $148.6M | $157.7M | $174.6M | $179.4M |
| Net income | $10.5M | -$22.4M | $3.0M | $7.9M | -$5.5M | -$30.6M | -$14.3M | -$29.8M | $57.1M | $72.9M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Officer or director change Item 5.02
- Shareholder vote Item 5.07
- Results announced Item 2.02
- Annual report filed Form 10-K
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 7373
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| IOT | Samsara Inc. | $26.14B | — | 29.6% |
| LDOS | Leidos Holdings, Inc. | $17.08B | 12.2x | 3.2% |
| GDDY | GoDaddy Inc. | $14.28B | 18.1x | 8.3% |
| CACI | CACI INTERNATIONAL INC /DE/ | $14.01B | 26.2x | 10.9% |
| IONQ | IonQ, Inc. | $11.91B | — | 201.9% |
| JKHY | JACK HENRY & ASSOCIATES INC | $11.40B | 23.3x | 7.1% |
| AUR | Aurora Innovation, Inc. | $9.50B | — | — |
| OTEX | OPEN TEXT CORP | $6.77B | 10.8x | 1.5% |