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MARKETS / NASDAQ / OSPN
NASDAQ · SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN · MID CAP

OneSpan Inc. OSPN

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$243.2M
▲ 0.0% YoY
$72.9M
▲ 27.7% YoY
$50.5M
▲ 8.8% YoY
In brief

What this company does

OneSpan provides cybersecurity solutions that protect identities, secure mobile apps and safeguard access through authentication, threat intelligence, fraud prevention and mobile app protection, and digital agreement solutions that support agreement workflows through e-signatures, identity verification and digital forms. As of December 31, 2025, it had 602 employees, consisting of 336 in the Americas, 231 in EMEA and 35 in the Asia Pacific region. Its top 10 customers contributed 18%, 20% and 22% of its total worldwide revenue in 2025, 2024 and 2023, respectively. The company reports its financial results under two business divisions, which are its reportable operating segments: Cybersecurity and Digital Agreements. The Cybersecurity segment consists of software products, software development kits and Digipass authenticator devices used to build applications that defend against attacks on digital transactions across online environments, devices and applications. The Digital Agreements segment consists of cloud-based solutions, including OneSpan Sign e-signature, OneSpan Notary and OneSpan Identity Verification, that secure and automate business processes associated with clients' digital agreement and customer transaction lifecycles. VASCO Corp., the company's predecessor, entered the data security business in 1991; VASCO Data Security International, Inc. was incorporated in 1997 and became a publicly traded company in 1998; and the company changed its name to OneSpan Inc. in May 2018.

Written from the business description in OneSpan Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth
USD 243.2M
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2025 · Revenue 243.2 · Net income 72.9
100M200M-20M200920112013201520172019202120232025
Compound annual growth
+3.6%
+2.4%
+0.1%
+5.6%
+5.6%
+13.6%
+76.8%
+44.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +2.4% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
30 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 19.9% · Net 30.0%
10%20%-5%-10%200920112013201520172019202120232025
ROE
FY2025 · ROE 30.1%
10%20%30%-5%-10%-15%200920112013201520172019202120232025

Each USD of equity produced 30 cents of profit this year.

Cash & shareholders
USD 31.6M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 50.5
25.0M50.0M-8.0M-16.0M200920112013201520172019202120232025
Net buybacks $M Dividends $M
FY2025 · Dividends 18.5 · Net buybacks 13.1
20MDividendsNet buybacks202020212022202320242025

USD 18.5M in dividends and USD 13.1M in buybacks — 43% of the year's profit went back to shareholders.

Total assetsUSD 397.7M
EquityUSD 271.8M
CashUSD 70.5M
Current ratio1.50×

Equity funds 68% of total assets.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.20.20.20.20.20.20.30.20.20.20.20.20.20.20.20.10.1
Operating income $B0.00.0−0.0−0.0−0.0−0.00.0−0.00.00.00.10.00.00.00.00.00.0
EBITDA $B0.10.1−0.0−0.0−0.00.00.00.00.00.00.10.00.00.00.00.00.0
Income tax $B−0.0−0.00.00.00.00.00.0−0.00.00.00.00.00.00.00.00.00.0
Net income $B0.10.1−0.0−0.0−0.0−0.00.00.0−0.00.00.00.00.00.00.00.00.0
Free cash flow $B0.10.0−0.0−0.0−0.00.00.0−0.00.00.00.10.00.00.00.00.00.0
EPS, diluted $1.881.46−0.74−0.36−0.77−0.140.200.08−0.560.271.060.850.280.400.470.280.31
Dividend / sh $0.120.12···············
Payout %250−0··············
ROE %30.130.7−16.4−6.8−12.8−2.13.11.2−9.14.218.617.66.710.714.49.610.9
Shares out B0.040.040.040.040.040.040.040.040.040.040.040.040.040.040.040.04·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 83 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 12 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Computer Integrated Systems Design
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2009

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