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Nasdaq · Technology

OneSpan Inc. (OSPN)

As-reported financials and SEC filings for OneSpan Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About OneSpan Inc.

OneSpan Inc. provides cybersecurity and digital agreement solutions to organizations worldwide. Its cybersecurity products include software and authenticator devices that protect identities, secure mobile applications, and prevent fraud through multi-factor authentication and mobile app security. The digital agreements portfolio offers cloud-based e-signature, identity verification, and digital workflow tools designed to streamline and secure business transactions, serving primarily financial institutions and large enterprises.

Snapshot

Revenue
$243.2M
Revenue growth (YoY)
0.0%
Net income
$72.9M
Diluted EPS
$1.88
Gross margin
73.8%
Operating margin
19.9%
Net margin
30.0%
FCF margin
20.8%
ROE
26.8%
net income / fiscal-year-end equity
P/E
8.7×
trailing when available, otherwise FY EPS
Market cap
$566.4M
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at OneSpan

  • Revenue grew 0.0% to $243M in FY2025, slower than the 3.4% the year before.
  • Operating margin turned positive at 19.9% in FY2025, from a 12.2% operating loss in FY2021.
  • Most recent quarter Q2 FY2026: revenue $60M, up 1.0% from Q2 FY2025.
  • Free cash flow was $50M in FY2025, 20.8% of revenue.
  • Net income rose 27.7% to $73M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where OneSpan’s fundamentals sit among the 332 software companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin73.8%
64th percentile of 264
Operating margin19.9%
83rd percentile of 303
Net margin30.0%
91st percentile of 307
FCF margin20.8%
67th percentile of 285
Revenue growth (YoY)+0.0%
20th percentile of 325
ROE26.8%
84th percentile of 285
P/E8.7×
13th percentile of 169
Short interest7.25d
88th percentile of 330

OneSpan’s net margin of 30.0% ranks in the 91st percentile of the 307 software companies reporting it. OneSpan’s P/E of 8.7 ranks in the 13th percentile of the 169 peers with a meaningful P/E.

No reported insider purchases (code P) in the last 90 days; 1 insider sale totaling $288,982. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 4 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+4 quant / multi-strat
Initiated / added
2
0 new, 2 added
Reduced / exited
3
2 trimmed, 1 exited
Combined position
$24.5M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$17.1M1.2MAdded
Millennium ManagementquantQ2 2026$4.3M301.6KReduced
Two Sigma InvestmentsquantQ2 2026$1.8M122.9KReduced
Citadel AdvisorsquantQ2 2026$1.4M94.9KAdded

No longer held by: Renaissance Technologies (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
1
$289K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-16
Martell Jorge GarciaChief Financial OfficerSell20.0K$14.45$289K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
3.5M
settled 2026-08-14
Change vs prior
+17.0%
vs previous settlement
Days to cover
7.25
at avg daily volume
Avg daily volume
483.1K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-143.5M+17.0%7.25
2026-07-313.0M+3.9%7.86
2026-07-152.9M-5.1%8.77
2026-06-303.0M+2.2%6.13
2026-06-153.0M+3.2%5.29
2026-05-292.9M+8.6%5.46
2026-05-152.6M+10.4%4.33
2026-04-302.4M+9.1%5.87

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$243.2M$243.2M$235.1M$219.0M$214.5M
Gross profit$179.4M$174.6M$157.7M$148.6M$142.9M
Operating income$48.4M$44.8M$-28.9M$-27.1M$-26.1M
Net income$72.9M$57.1M$-29.8M$-14.4M$-30.6M
Diluted EPS$1.88$1.46$-0.74$-0.36$-0.77

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$70.5M$83.2M$43.0M$96.2M$63.4M
Current assets$172.2M$174.9M$146.3M$198.4M$187.1M
Total assets$397.7M$338.7M$289.2M$335.1M$342.3M
Current liabilities$114.6M$110.3M$114.8M$110.8M$89.1M
Long-term debt
Total liabilities$125.9M$126.2M$130.1M$131.8M$122.5M
Total equity$271.8M$212.5M$159.1M$203.3M$219.8M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$59.5M$55.7M$-10.7M$-5.8M$-2.7M
Capital expenditure$9.0M$9.2M$12.5M$5.0M$2.2M
Free cash flow$50.5M$46.4M$-23.2M$-10.8M$-4.9M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$60.5M1.0%$6.8M$0.18
Q1 FY2026$65.9M4.1%$11.6M$0.30
Q4 FY2025$62.9M2.9%$43.5M$1.12
Q3 FY2025$57.1M1.4%$6.5M$0.17
Q2 FY2025$59.8M-1.8%$8.3M$0.21
Q1 FY2025$63.4M-2.3%$14.5M$0.37
Q4 FY2024$61.2M-2.8%$28.8M$0.72
Q3 FY2024$56.2M-4.4%$8.3M$0.21

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorTechnology
SIC industryServices-Computer Integrated Systems Design
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2009
SEC CIK1044777

Selected SEC filings

10-K2026-02-26
View on EDGAR →
10-Q2026-08-04
View on EDGAR →
10-Q2026-04-30
View on EDGAR →
8-K2026-08-04
View on EDGAR →
8-K2026-06-05
View on EDGAR →
8-K2026-05-11
View on EDGAR →
8-K2026-04-30
View on EDGAR →

Largest software peers

All software stocksAll Technology companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.