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Onespan Inc Financials

OSPN
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Onespan Inc (OSPN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 61 / 100
Financial Profile 61/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
66

Onespan Inc has an operating margin of 19.9%, meaning the company retains $20 of operating profit per $100 of revenue. This strong profitability earns a score of 66/100, reflecting efficient cost management and pricing power. This is up from 18.4% the prior year.

Growth
33

Onespan Inc's revenue grew a modest 0.0% year-over-year to $243.2M. This slow but positive growth earns a score of 33/100.

Leverage
93

Onespan Inc carries a low D/E ratio of 0.46, meaning only $0.46 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 93/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
26

Onespan Inc's current ratio of 1.50 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 26/100, which could limit financial flexibility.

Cash Flow
77

Onespan Inc converts 20.8% of revenue into free cash flow ($50.5M). This strong cash generation earns a score of 77/100.

Returns
71

Onespan Inc earns a strong 26.8% return on equity (ROE), meaning it generates $27 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 71/100. This is down from 26.9% the prior year.

Altman Z-Score Safe
3.84

Onespan Inc scores 3.84, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
5/9

Onespan Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed
0.82x

For every $1 of reported earnings, Onespan Inc generates $0.82 in operating cash flow ($59.5M OCF vs $72.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue
$243.2M
YoY+0.0%
5Y CAGR+2.4%
10Y CAGR+0.1%

Onespan Inc generated $243.2M in revenue in fiscal year 2025. This represents an increase of 0.0% from the prior year.

EBITDA
$58.5M
YoY+10.1%
5Y CAGR+54.0%
10Y CAGR+0.3%

Onespan Inc's EBITDA was $58.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 10.1% from the prior year.

Net Income
$72.9M
YoY+27.7%
10Y CAGR+5.6%

Onespan Inc reported $72.9M in net income in fiscal year 2025. This represents an increase of 27.7% from the prior year.

EPS (Diluted)
$1.88
YoY+28.8%
10Y CAGR+5.9%

Onespan Inc earned $1.88 per diluted share (EPS) in fiscal year 2025. This represents an increase of 28.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$50.5M
YoY+8.8%
5Y CAGR+33.7%
10Y CAGR-2.9%

Onespan Inc generated $50.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 8.8% from the prior year.

Cash & Debt
$70.5M
YoY-15.2%
5Y CAGR-4.4%
10Y CAGR-1.1%

Onespan Inc held $70.5M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
$0.12
YoY+0.0%

Onespan Inc paid $0.12 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding
37M
YoY-1.8%
5Y CAGR-1.4%
10Y CAGR-0.7%

Onespan Inc had 37M shares outstanding in fiscal year 2025. This represents a decrease of 1.8% from the prior year.

Margins & Returns

Gross Margin
73.8%
YoY+2.0pp
5Y CAGR+5.1pp
10Y CAGR+14.3pp

Onespan Inc's gross margin was 73.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.0 percentage points from the prior year.

Operating Margin
19.9%
YoY+1.5pp
5Y CAGR+22.4pp
10Y CAGR-1.0pp

Onespan Inc's operating margin was 19.9% in fiscal year 2025, reflecting core business profitability. This is up 1.5 percentage points from the prior year.

Net Margin
30.0%
YoY+6.5pp
5Y CAGR+32.5pp
10Y CAGR+12.5pp

Onespan Inc's net profit margin was 30.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 6.5 percentage points from the prior year.

Return on Equity
26.8%
YoY-0.0pp
5Y CAGR+28.9pp
10Y CAGR+9.8pp

Onespan Inc's ROE was 26.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.0 percentage points from the prior year.

Capital Allocation

R&D Spending
$34.2M
YoY+5.3%
5Y CAGR-3.7%
10Y CAGR+6.9%

Onespan Inc invested $34.2M in research and development in fiscal year 2025. This represents an increase of 5.3% from the prior year.

Share Buybacks
$13.1M
YoY+437966.7%
5Y CAGR+21.2%

Onespan Inc spent $13.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 437966.7% from the prior year.

Capital Expenditures
$9.0M
YoY-3.1%
5Y CAGR+23.6%
10Y CAGR+20.7%

Onespan Inc invested $9.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 3.1% from the prior year.

OSPN Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $62.9M+10.3% $57.1M-4.7% $59.8M-5.6% $63.4M+3.6% $61.2M+8.8% $56.2M-7.7% $60.9M-6.0% $64.8M
Cost of Revenue $16.6M+10.4% $15.1M-5.2% $15.9M-2.5% $16.3M+2.5% $15.9M+8.1% $14.7M-28.6% $20.6M+18.0% $17.4M
Gross Profit $46.3M+10.2% $42.0M-4.5% $44.0M-6.6% $47.1M+4.0% $45.3M+9.0% $41.5M+3.0% $40.3M-14.9% $47.4M
R&D Expenses $8.0M-9.2% $8.8M-6.9% $9.4M+19.1% $7.9M-4.4% $8.3M+10.0% $7.5M-9.7% $8.3M+1.0% $8.3M
SG&A Expenses $12.2M+0.5% $12.2M+3.2% $11.8M+23.4% $9.5M-27.1% $13.1M+15.5% $11.3M-1.9% $11.6M+15.5% $10.0M
Operating Income $12.5M+52.3% $8.2M-21.7% $10.5M-38.9% $17.2M+45.5% $11.8M+4.9% $11.3M+47.3% $7.6M-45.9% $14.1M
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax -$31.0M-1738.8% $1.9M-15.0% $2.2M-33.7% $3.4M+122.0% -$15.3M-1003.6% $1.7M-12.8% $1.9M+87.2% $1.0M
Net Income $43.5M+568.5% $6.5M-21.9% $8.3M-42.5% $14.5M-49.6% $28.8M+248.0% $8.3M+26.2% $6.6M-51.3% $13.5M
EPS (Diluted) N/A $0.17-19.0% $0.21-43.2% $0.37 N/A $0.21+23.5% $0.17-51.4% $0.35

OSPN Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $397.7M+15.8% $343.5M-3.8% $357.1M+7.0% $333.8M-1.5% $338.7M+17.1% $289.3M+0.8% $286.9M+3.5% $277.1M
Current Assets $172.2M+9.3% $157.5M-7.1% $169.5M-0.6% $170.6M-2.5% $174.9M+23.3% $141.9M-1.4% $143.9M+7.2% $134.2M
Cash & Equivalents $70.5M-17.6% $85.6M-7.9% $92.9M-11.7% $105.2M+26.5% $83.2M+7.3% $77.5M+21.4% $63.8M0.0% $63.9M
Inventory $10.5M-6.9% $11.2M-1.8% $11.4M+3.8% $11.0M+2.2% $10.8M-17.1% $13.0M+4.1% $12.5M-14.3% $14.6M
Accounts Receivable $56.0M+103.8% $27.5M-21.6% $35.1M+18.5% $29.6M-47.4% $56.2M+95.0% $28.8M-34.2% $43.8M+35.3% $32.4M
Goodwill $103.8M+1.5% $102.3M-0.9% $103.3M+9.6% $94.2M+2.0% $92.4M-3.9% $96.1M+3.3% $93.1M0.0% $93.1M
Total Liabilities $125.9M+19.6% $105.2M-8.2% $114.6M+11.6% $102.7M-18.6% $126.2M+33.3% $94.7M-12.6% $108.3M+1.9% $106.3M
Current Liabilities $114.6M+27.3% $90.0M-5.8% $95.6M+9.8% $87.0M-21.1% $110.3M+37.1% $80.4M-14.2% $93.7M+1.7% $92.2M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $271.8M+14.1% $238.3M-1.7% $242.5M+4.9% $231.1M+8.7% $212.5M+9.2% $194.6M+9.0% $178.6M+4.5% $170.9M
Retained Earnings $209.8M+22.7% $170.9M+1.0% $169.2M+2.1% $165.7M+9.6% $151.3M+18.9% $127.2M+7.0% $119.0M+5.8% $112.4M

OSPN Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $12.6M+11.2% $11.3M+81.8% $6.2M-78.8% $29.4M+136.3% $12.4M-11.1% $14.0M+507.3% $2.3M-91.5% $27.0M
Capital Expenditures $2.9M+16.0% $2.5M+36.5% $1.9M+14.2% $1.6M-17.5% $2.0M+1.0% $2.0M-14.2% $2.3M-25.3% $3.0M
Free Cash Flow $9.6M+9.8% $8.8M+101.1% $4.4M-84.3% $27.7M+165.4% $10.5M-13.1% $12.0M+46157.7% $26K-99.9% $23.9M
Investing Cash Flow -$15.6M-247.9% -$4.5M+67.8% -$13.9M-744.7% -$1.6M+16.9% -$2.0M-0.7% -$2.0M+13.8% -$2.3M+26.0% -$3.1M
Financing Cash Flow -$12.1M+14.5% -$14.2M-126.4% -$6.3M-5.7% -$5.9M-145.2% -$2.4M-201.1% -$801K-239.4% -$236K+86.9% -$1.8M
Dividends Paid $4.6M-2.1% $4.7M+1.6% $4.6M+0.5% $4.6M $0 $0 $0 $0
Share Buybacks $6.8M N/A N/A N/A $3K N/A N/A N/A

OSPN Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 73.6%-0.0pp 73.6%+0.1pp 73.5%-0.8pp 74.3%+0.3pp 74.0%+0.2pp 73.9%+7.7pp 66.2%-6.9pp 73.1%
Operating Margin 19.9%+5.5pp 14.4%-3.1pp 17.6%-9.6pp 27.1%+7.8pp 19.3%-0.7pp 20.0%+7.5pp 12.5%-9.2pp 21.8%
Net Margin 69.2%+57.8pp 11.4%-2.5pp 13.9%-8.9pp 22.9%-24.2pp 47.1%+32.4pp 14.7%+4.0pp 10.8%-10.0pp 20.8%
Return on Equity 16.0%+13.3pp 2.7%-0.7pp 3.4%-2.8pp 6.3%-7.3pp 13.6%+9.3pp 4.3%+0.6pp 3.7%-4.2pp 7.9%
Return on Assets 10.9%+9.0pp 1.9%-0.4pp 2.3%-2.0pp 4.3%-4.2pp 8.5%+5.6pp 2.9%+0.6pp 2.3%-2.6pp 4.9%
Current Ratio 1.50-0.2 1.75-0.0 1.77-0.2 1.96+0.4 1.59-0.2 1.76+0.2 1.54+0.1 1.46
Debt-to-Equity 0.46+0.0 0.44-0.0 0.47+0.0 0.44-0.1 0.59+0.1 0.49-0.1 0.61-0.0 0.62
FCF Margin 15.3%-0.1pp 15.4%+8.1pp 7.3%-36.5pp 43.8%+26.7pp 17.1%-4.3pp 21.4%+21.3pp 0.0%-36.8pp 36.9%

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Frequently Asked Questions

Onespan Inc (OSPN) reported $243.2M in total revenue for fiscal year 2025. This represents a 0.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Onespan Inc (OSPN) revenue grew by 0% year-over-year, from $243.2M to $243.2M in fiscal year 2025.

Yes, Onespan Inc (OSPN) reported a net income of $72.9M in fiscal year 2025, with a net profit margin of 30.0%.

Onespan Inc (OSPN) reported diluted earnings per share of $1.88 for fiscal year 2025. This represents a 28.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Onespan Inc (OSPN) had EBITDA of $58.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Onespan Inc (OSPN) had a gross margin of 73.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Onespan Inc (OSPN) had an operating margin of 19.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Onespan Inc (OSPN) had a net profit margin of 30.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Onespan Inc (OSPN) paid $0.12 per share in dividends during fiscal year 2025.

Onespan Inc (OSPN) has a return on equity of 26.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Onespan Inc (OSPN) generated $50.5M in free cash flow during fiscal year 2025. This represents a 8.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Onespan Inc (OSPN) generated $59.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Onespan Inc (OSPN) had $397.7M in total assets as of fiscal year 2025, including both current and long-term assets.

Onespan Inc (OSPN) invested $9.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Onespan Inc (OSPN) invested $34.2M in research and development during fiscal year 2025.

Yes, Onespan Inc (OSPN) spent $13.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Onespan Inc (OSPN) had 37M shares outstanding as of fiscal year 2025.

Onespan Inc (OSPN) had a current ratio of 1.50 as of fiscal year 2025, which is generally considered healthy.

Onespan Inc (OSPN) had a debt-to-equity ratio of 0.46 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Onespan Inc (OSPN) had a return on assets of 18.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Onespan Inc (OSPN) has an Altman Z-Score of 3.84, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Onespan Inc (OSPN) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Onespan Inc (OSPN) has an earnings quality ratio of 0.82x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Onespan Inc (OSPN) scores 61 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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