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Onespan (OSPN) Financials

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$15.48 -0.04 (-0.23%)
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Annual Income Statements for Onespan

Annual Income Statements for Onespan

This table shows Onespan's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 42 11 -22 3.04 7.86 -5.46 -31 -14 -30 57 73
Consolidated Net Income / (Loss)		 42 11 -22 3.04 7.86 -5.46 -31 -14 -30 57 73
Net Income / (Loss) Continuing Operations		 42 11 -22 3.04 7.86 -5.46 -31 -14 -30 57 73
Total Pre-Tax Income 		51 11 8.38 2.61 14 -3.42 -26 -12 -27 46 49
Total Operating Income		 50 9.60 6.19 -0.92 14 -5.26 -26 -27 -29 45 48
Total Gross Profit		 144 131 135 147 168 148 143 149 158 175 179
Total Revenue		 241 192 193 211 253 216 214 219 235 243 243
Operating Revenue		 241 192 193 211 253 216 214 219 235 243 243
Total Cost of Revenue		 98 62 59 65 86 68 72 70 77 69 64
Operating Cost of Revenue		 98 62 59 65 86 68 72 70 77 69 64
Total Operating Expenses		 93 121 128 147 154 153 169 176 187 130 131
Selling, General & Admin Expense		 32 32 37 42 44 46 53 56 58 46 46
Marketing Expense		 38 57 59 64 58 57 63 61 70 45 47
Research & Development Expense		 17 23 23 32 42 41 47 42 38 32 34
Amortization Expense		 4.94 8.85 8.81 9.85 9.47 9.12 5.89 4.14 2.35 2.35 2.48
Restructuring Charge		 - - - - - 0.00 0.00 13 17 4.44 1.63
Total Other Income / (Expense), net		 0.40 1.78 2.19 3.53 0.22 1.84 -0.02 15 1.56 1.68 0.92
Interest & Investment Income		 0.36 0.79 1.43 1.27 0.75 0.40 -0.00 0.60 2.09 1.81 1.99
Other Income / (Expense), net		 0.04 0.99 0.76 2.26 -0.53 1.43 -0.01 15 -0.53 -0.13 -1.07
Income Tax Expense		 8.70 0.86 31 -0.44 6.55 2.04 4.44 2.74 2.49 -11 -24
Basic Earnings per Share		 $1.07 $0.27 ($0.56) $0.08 $0.20 ($0.14) ($0.77) ($0.36) ($0.74) $1.49 $1.91
Weighted Average Basic Shares Outstanding		 39.57M 39.72M 39.80M 39.93M 40.05M 40.04M 39.61M 40.14M 40.19M 38.39M 38.21M
Diluted Earnings per Share		 $1.06 $0.27 ($0.56) $0.08 $0.20 ($0.14) ($0.77) ($0.36) ($0.74) $1.46 $1.88
Weighted Average Diluted Shares Outstanding		 39.74M 39.78M 39.80M 40.05M 40.14M 40.04M 39.61M 40.14M 40.19M 39.09M 38.88M
Weighted Average Basic & Diluted Shares Outstanding		 39.40M 38.90M 40M -192.30M 40.27M 40.39M 40.00M 40.00M 37.79M 38.18M 37.47M
Cash Dividends to Common per Share		 - - - - - - - - - $0.12 $0.12

Quarterly Income Statements for Onespan

This table shows Onespan's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -4.13 0.44 13 6.55 8.27 29 15 8.34 6.51 44 12
Consolidated Net Income / (Loss)		 -4.13 0.44 13 6.55 8.27 29 15 8.34 6.51 44 12
Net Income / (Loss) Continuing Operations		 -4.13 0.44 13 6.55 8.27 29 15 8.34 6.51 44 12
Total Pre-Tax Income 		-3.85 1.36 15 8.49 9.96 14 18 11 8.41 13 14
Total Operating Income		 -4.79 1.82 14 7.64 11 12 17 11 8.23 13 15
Total Gross Profit		 41 43 47 40 42 45 47 44 42 46 49
Total Revenue		 59 63 65 61 56 61 63 60 57 63 66
Operating Revenue		 59 63 65 61 56 61 63 60 57 63 66
Total Cost of Revenue		 18 19 17 21 15 16 16 16 15 17 17
Operating Cost of Revenue		 18 19 17 21 15 16 16 16 15 17 17
Total Operating Expenses		 45 42 33 33 30 33 30 33 34 34 34
Selling, General & Admin Expense		 12 14 10 12 11 13 9.55 12 12 12 11
Marketing Expense		 17 14 13 11 10 11 11 12 11 13 13
Research & Development Expense		 10 8.73 8.26 8.34 7.53 8.29 7.93 9.44 8.80 7.99 9.08
Amortization Expense		 0.58 0.60 0.60 0.59 0.59 0.59 0.56 0.69 0.74 0.50 0.70
Other Operating Expenses / (Income)		 - - - - - - 0.00 - - - 0.28
Restructuring Charge		 6.52 4.24 1.50 1.71 0.70 0.54 0.42 0.05 0.70 0.46 0.00
Total Other Income / (Expense), net		 0.94 -0.46 0.39 0.85 -1.29 1.73 0.68 0.06 0.18 -0.01 -0.41
Interest & Investment Income		 0.59 0.42 0.10 0.52 0.62 0.56 0.69 0.73 0.39 0.17 -0.02
Other Income / (Expense), net		 0.35 -0.87 0.29 0.33 -1.92 1.17 -0.01 -0.67 -0.21 -0.18 -0.39
Income Tax Expense		 0.28 0.92 1.03 1.94 1.69 -15 3.36 2.23 1.89 -31 2.85
Basic Earnings per Share		 ($0.10) $0.01 $0.35 $0.17 $0.21 $0.76 $0.38 $0.22 $0.17 $1.14 $0.31
Weighted Average Basic Shares Outstanding		 40.45M 40.19M 38.06M 38.53M 38.70M 38.39M 38.11M 38.21M 38.14M 38.21M 37.61M
Diluted Earnings per Share		 ($0.10) $0.01 $0.35 $0.17 $0.21 $0.73 $0.37 $0.21 $0.17 $1.13 $0.30
Weighted Average Diluted Shares Outstanding		 40.45M 40.19M 38.46M 39.01M 39.46M 39.09M 39.03M 39.01M 38.77M 38.88M 38.07M
Weighted Average Basic & Diluted Shares Outstanding		 39.89M 37.79M 37.85M 37.87M 37.99M 38.18M 38.23M 38.32M 38.03M 37.47M 37.07M
Cash Dividends to Common per Share		 - - - - - - $0.12 $0.12 $0.12 - $0.13

Annual Cash Flow Statements for Onespan

This table details how cash moves in and out of Onespan's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 6.08 -29 29 52 7.57 4.11 -25 33 -54 40 -13
Net Cash From Operating Activities		 69 28 18 1.23 18 15 -2.75 -5.76 -11 56 59
Net Cash From Continuing Operating Activities		 69 28 18 1.23 18 15 -2.75 -5.76 -11 56 59
Net Income / (Loss) Continuing Operations		 42 11 -22 3.04 7.86 -5.46 -31 -14 -30 57 73
Consolidated Net Income / (Loss)		 42 11 -22 3.04 7.86 -5.46 -31 -14 -30 57 73
Depreciation Expense		 6.30 11 11 12 12 12 8.93 7.07 6.48 8.36 10
Non-Cash Adjustments To Reconcile Net Income		 3.84 2.78 3.65 1.76 6.55 6.16 5.44 -2.10 17 5.38 3.67
Changes in Operating Assets and Liabilities, net		 17 4.34 26 -16 -7.71 2.21 13 3.71 -4.71 -15 -27
Net Cash From Investing Activities		 -56 -56 13 0.19 -9.89 -4.66 -11 47 -12 -9.31 -36
Net Cash From Continuing Investing Activities		 -56 -56 13 53 -9.89 -4.66 -11 47 -12 -9.31 -36
Purchase of Property, Plant & Equipment		 -1.36 -2.04 -3.09 -3.69 -7.45 -3.10 -2.17 -5.00 -12 -9.25 -8.96
Acquisitions		 -75 - - - 0.00 -0.13 -0.04 -0.03 -1.86 -0.06 -15
Purchase of Investments		 -110 -185 -179 -23 -34 -34 -60 -16 0.00 0.00 -12
Sale and/or Maturity of Investments		 130 135 195 80 31 33 51 49 2.33 0.00 0.00
Net Cash From Financing Activities		 -6.44 -1.05 -0.64 -0.97 -0.57 -7.06 -10 -7.31 -32 -5.24 -38
Net Cash From Continuing Financing Activities		 -6.44 -1.05 -0.64 -0.97 -0.57 -7.06 -10 -7.31 -32 -5.24 -38
Repayment of Debt		 -5.93 - - - - - - - 0.00 0.00 -1.74
Repurchase of Common Equity		 - - - 0.00 0.00 -5.03 -7.47 -5.72 -29 -0.00 -13
Payment of Dividends		 - - - - - - - - 0.00 0.00 -18
Other Financing Activities, net		 -0.52 -1.05 -0.64 -0.97 -0.57 -2.03 -2.92 -1.59 -2.94 -5.24 -5.08
Effect of Exchange Rate Changes		 -0.31 -0.05 -0.47 -1.56 -0.21 - -0.90 -0.37 1.00 -1.32 1.72
Cash Income Taxes Paid		 6.78 5.98 6.43 11 7.84 9.44 7.70 2.03 4.99 2.30 9.64

Quarterly Cash Flow Statements for Onespan

This table details how cash moves in and out of Onespan's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -15 -26 21 -0.58 14 5.50 22 -12 -7.33 -15 -21
Net Cash From Operating Activities		 -7.45 3.10 27 2.30 14 12 29 6.22 11 13 28
Net Cash From Continuing Operating Activities		 -7.51 3.11 27 2.30 14 12 29 6.22 11 13 28
Net Income / (Loss) Continuing Operations		 -4.13 0.44 13 6.55 8.27 29 15 8.34 6.51 44 12
Consolidated Net Income / (Loss)		 -4.13 0.44 13 6.55 8.27 29 15 8.34 6.51 44 12
Depreciation Expense		 1.69 1.96 2.08 2.06 1.94 2.28 2.13 2.46 2.57 2.92 3.13
Non-Cash Adjustments To Reconcile Net Income		 3.03 3.65 1.54 2.41 2.25 -0.53 2.45 -1.19 1.01 1.39 7.59
Changes in Operating Assets and Liabilities, net		 -8.09 -2.93 10 -8.72 1.51 -18 10 -3.39 1.21 -35 5.90
Net Cash From Investing Activities		 -2.56 -3.48 -3.08 -2.28 -1.97 -1.98 -1.65 -14 -4.48 -16 -38
Net Cash From Continuing Investing Activities		 -2.56 -3.48 -3.08 -2.28 -1.97 -1.98 -1.65 -14 -4.48 -16 -38
Purchase of Property, Plant & Equipment		 -2.54 -3.45 -3.05 -2.28 -1.95 -1.97 -1.63 -1.86 -2.54 -2.94 -3.12
Acquisitions		 -0.02 -0.03 -0.04 -0.00 -0.01 -0.01 -0.02 -12 -1.94 -0.79 -35
Net Cash From Financing Activities		 -4.32 -26 -1.80 -0.24 -0.80 -2.41 -5.91 -6.25 -14 -12 -11
Net Cash From Continuing Financing Activities		 -4.32 -26 -1.80 -0.24 -0.80 -2.41 -5.91 -6.25 -14 -12 -11
Repurchase of Common Equity		 - -26 - - - -0.00 0.00 - - -6.85 -5.40
Payment of Dividends		 - - 0.00 - - - -4.59 -4.61 -4.68 -4.58 -4.99
Other Financing Activities, net		 -0.79 -0.60 -1.80 -0.24 -0.80 -2.41 -1.33 -1.08 -2.00 -0.67 -0.99
Other Net Changes in Cash		 - - - - - -2.53 - 1.44 - - 0.21

Annual Balance Sheets for Onespan

This table presents Onespan's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 312 327 338 353 383 375 342 335 289 339 398
Total Current Assets		 183 207 228 192 210 207 187 198 146 175 172
Cash & Equivalents		 79 49 79 77 84 88 63 96 43 83 70
Accounts Receivable		 29 37 48 60 62 58 57 65 64 56 56
Inventories, net		 21 17 12 14 20 13 10 12 16 11 10
Prepaid Expenses		 3.05 3.25 3.88 4.73 6.20 7.84 7.59 6.22 6.58 6.55 7.04
Other Current Assets		 4.78 5.41 5.50 14 12 13 14 15 16 18 28
Plant, Property, & Equipment, net		 3.10 3.28 4.78 6.25 11 12 11 13 19 21 22
Total Noncurrent Assets		 125 117 105 155 161 156 144 124 124 143 203
Long-Term Investments		 - - - - - - - - - 0.00 12
Goodwill		 81 54 56 92 95 98 96 91 94 92 104
Intangible Assets		 38 47 38 45 36 27 21 12 11 7.48 9.74
Noncurrent Deferred & Refundable Income Taxes		 - 11 5.46 5.60 7.86 7.03 3.79 1.90 1.72 21 55
Other Noncurrent Operating Assets		 6.54 4.76 5.23 12 23 24 23 19 18 23 23
Total Liabilities & Shareholders' Equity		 312 327 338 353 383 375 342 335 289 339 398
Total Liabilities		 64 74 100 100 120 118 122 132 130 126 126
Total Current Liabilities		 56 68 66 72 74 75 89 111 115 110 115
Accounts Payable		 8.80 8.92 8.14 7.20 11 5.68 8.20 17 17 13 14
Accrued Expenses		 7.82 5.46 7.75 9.32 8.79 8.33 7.67 7.66 11 6.34 12
Dividends Payable		 - - - - - - - - 0.00 4.77 0.67
Current Deferred Revenue		 22 36 33 34 30 43 55 65 69 67 72
Current Deferred & Payable Income Tax Liabilities		 4.82 4.59 3.67 6.91 7.41 2.62 1.10 2.44 2.65 4.40 3.08
Current Employee Benefit Liabilities		 12 13 13 15 16 15 17 19 15 14 14
Total Noncurrent Liabilities		 8.08 6.15 34 28 46 43 33 21 15 16 11
Capital Lease Obligations		 - - - - 11 12 - 8.44 6.82 6.93 6.14
Noncurrent Deferred Revenue		 - - 20 18 22 18 14 8.83 4.15 3.39 2.54
Noncurrent Deferred & Payable Income Tax Liabilities		 8.01 0.44 7.75 2.66 4.62 1.91 1.29 1.20 1.07 3.68 0.99
Other Noncurrent Operating Liabilities		 0.08 5.71 5.92 7.08 8.30 10 18 2.48 3.18 1.93 1.62
Commitments & Contingencies		 - - - - - - - - 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 248 253 238 252 262 257 220 203 159 213 272
Total Preferred & Common Equity		 248 253 238 252 262 257 220 203 159 213 272
Preferred Stock		 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 248 253 238 252 262 257 220 203 159 213 272
Common Stock		 86 88 90 93 96 99 100 107 119 123 129
Retained Earnings		 168 179 156 172 179 174 143 129 99 151 210
Treasury Stock		 - - - - 0.00 -5.03 -13 -18 -47 -47 -61
Accumulated Other Comprehensive Income / (Loss)		 -5.79 -13 -8.57 -13 -13 -10 -11 -15 -11 -14 -6.15

Quarterly Balance Sheets for Onespan

This table presents Onespan's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 300 317 299 283 277 287 289 334 357 344 383
Total Current Assets		 167 176 160 146 134 144 142 171 169 158 123
Cash & Equivalents		 82 107 83 68 64 64 77 105 93 86 50
Accounts Receivable		 44 32 38 39 32 44 29 30 35 27 33
Inventories, net		 9.47 16 15 15 15 13 13 11 11 11 9.14
Prepaid Expenses		 5.90 7.94 7.91 7.32 6.84 6.13 6.70 6.33 7.00 6.88 7.15
Other Current Assets		 15 13 15 15 15 17 15 18 23 26 24
Plant, Property, & Equipment, net		 11 15 16 17 20 20 21 21 21 21 23
Total Noncurrent Assets		 121 126 123 120 123 123 127 142 166 165 237
Long-Term Investments		 - - - - - - - - - - 12
Goodwill		 86 92 93 91 93 93 96 94 103 102 128
Intangible Assets		 13 13 13 12 10 8.68 8.12 6.92 11 9.98 16
Noncurrent Deferred & Refundable Income Taxes		 3.36 1.92 1.89 1.84 1.68 1.69 1.77 21 29 29 59
Other Noncurrent Operating Assets		 19 18 15 15 18 19 21 20 23 23 22
Total Liabilities & Shareholders' Equity		 300 317 299 283 277 287 289 334 357 344 383
Total Liabilities		 105 118 112 105 106 108 95 103 115 105 111
Total Current Liabilities		 78 97 97 91 92 94 80 87 96 90 98
Accounts Payable		 9.82 17 18 17 12 15 13 12 16 10 11
Accrued Expenses		 7.09 9.31 8.49 8.12 7.78 8.12 5.90 7.26 9.42 7.89 12
Dividends Payable		 - - - - - - - 0.19 0.43 0.56 0.67
Current Deferred Revenue		 44 54 52 51 56 56 48 52 54 51 61
Current Deferred & Payable Income Tax Liabilities		 1.59 1.93 2.37 2.18 4.54 2.52 3.16 6.17 5.69 9.34 1.75
Current Employee Benefit Liabilities		 15 14 16 14 12 13 9.68 9.56 9.93 11 12
Total Noncurrent Liabilities		 27 21 15 14 14 15 14 16 19 15 13
Capital Lease Obligations		 8.52 - 5.54 5.29 6.01 7.00 7.43 6.91 7.03 6.45 5.80
Noncurrent Deferred Revenue		 9.62 8.28 4.91 4.57 3.92 3.37 2.93 2.93 2.94 2.82 2.40
Noncurrent Deferred & Payable Income Tax Liabilities		 1.89 1.21 1.24 1.22 1.00 0.99 1.10 3.77 4.15 1.01 0.99
Other Noncurrent Operating Liabilities		 7.00 12 3.05 2.96 3.18 3.21 2.78 2.04 4.90 4.89 3.95
Commitments & Contingencies		 - - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 195 199 187 177 171 179 195 231 243 238 272
Total Preferred & Common Equity		 195 199 187 177 171 179 195 231 243 238 272
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 195 199 187 177 171 179 195 231 243 238 272
Common Stock		 105 110 114 115 119 120 122 124 126 128 130
Retained Earnings		 132 120 103 98 112 119 127 166 169 171 216
Treasury Stock		 -18 -18 -18 -22 -47 -47 -47 -47 -47 -54 -66
Accumulated Other Comprehensive Income / (Loss)		 -23 -13 -12 -15 -13 -13 -7.41 -11 -5.75 -6.70 -8.06

Annual Metrics And Ratios for Onespan

This table displays calculated financial ratios and metrics derived from Onespan's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 39,827,034.00 40,196,944.00 40,170,047.00 40,256,380.00 40,201,365.00 40,634,029.00 39,965,506.00 - - - 38,027,123.00
DEI Adjusted Shares Outstanding		 39,827,034.00 40,196,944.00 40,170,047.00 40,256,380.00 40,201,365.00 40,634,029.00 39,965,506.00 - - - 38,027,123.00
DEI Earnings Per Adjusted Shares Outstanding		 1.06 0.26 -0.56 0.08 0.20 -0.13 -0.77 - - - 1.92
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 19.80% -20.35% 0.51% 9.34% 19.94% -14.91% -0.56% 2.11% 7.35% 3.43% 0.00%
EBITDA Growth		 29.20% -62.37% -17.87% -23.18% 86.97% -67.55% -310.49% 69.67% -338.99% 331.39% 8.30%
EBIT Growth		 33.57% -79.02% -34.38% -80.66% 916.52% -127.99% -583.63% 53.00% -139.28% 251.96% 6.04%
NOPAT Growth		 27.67% -78.79% -286.55% 93.51% 821.44% -147.53% -396.92% -3.78% -6.48% 372.23% 30.05%
Net Income Growth		 25.88% -75.06% -313.04% 113.59% 158.34% -169.37% -460.66% 52.81% -106.45% 291.56% 27.72%
EPS Growth		 24.71% -74.53% -307.41% 114.29% 150.00% -170.00% -450.00% 53.25% -105.56% 297.30% 28.77%
Operating Cash Flow Growth		 77.51% -58.69% -37.97% -93.04% 1,388.09% -18.21% -118.40% -109.80% -86.40% 618.56% 6.80%
Free Cash Flow Firm Growth		 -137.27% 273.06% -47.38% -678.44% 95.82% 281.02% 164.57% -165.35% -214.12% 219.49% -55.21%
Invested Capital Growth		 81.57% -12.52% -27.01% 92.30% 7.10% -5.69% -21.49% -7.62% 9.27% 15.08% 39.17%
Revenue Q/Q Growth		 -4.56% -1.68% 3.71% 4.63% 2.49% -7.34% 2.99% -1.14% 2.76% -0.72% 0.72%
EBITDA Q/Q Growth		 -11.01% -8.10% -5.66% 19.78% 11.46% -48.63% -54.50% 37.50% 16.48% 30.36% 0.02%
EBIT Q/Q Growth		 -12.91% -20.83% -11.62% 359.46% 24.60% -201.62% -26.21% 24.20% 11.82% 36.85% -1.30%
NOPAT Q/Q Growth		 -15.39% 10.08% -349.18% -101.27% 6.44% -2,043.41% -17.64% 6.71% 16.79% 88.68% 29.89%
Net Income Q/Q Growth		 -16.69% 17.02% -365.08% 111.73% 15.19% -1,191.00% -64.72% 42.52% 10.61% 98.65% 25.37%
EPS Q/Q Growth		 -17.19% 17.39% -366.67% 112.31% 5.26% -1,500.00% -63.83% 42.86% 10.84% 97.30% 27.03%
Operating Cash Flow Q/Q Growth		 21.64% -38.02% -5.12% 118.50% 664.65% -62.06% -189.59% 51.99% -81.40% 20.12% 0.24%
Free Cash Flow Firm Q/Q Growth		 -125.13% 153.32% -12.44% -323.15% 83.47% -77.68% 40.00% -469.41% -10.07% 99.78% -16.37%
Invested Capital Q/Q Growth		 105.23% -4.96% -25.38% -3.16% -11.00% -2.84% -8.67% 2.03% 8.04% 13.45% 22.87%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 59.45% 67.94% 69.59% 69.33% 66.21% 68.64% 66.64% 67.84% 67.08% 71.79% 73.75%
EBITDA Margin		 23.52% 11.11% 9.08% 6.38% 9.94% 3.79% -8.03% -2.38% -9.75% 21.81% 23.62%
Operating Margin		 20.90% 4.99% 3.20% -0.44% 5.60% -2.44% -12.18% -12.38% -12.28% 18.42% 19.92%
EBIT Margin		 20.91% 5.51% 3.60% 0.64% 5.39% -1.77% -12.19% -5.61% -12.51% 18.37% 19.48%
Profit (Net Income) Margin		 17.46% 5.47% -11.59% 1.44% 3.10% -2.53% -14.26% -6.59% -12.67% 23.47% 29.98%
Tax Burden Percent		 82.88% 92.41% -267.26% 116.67% 54.58% 159.50% 116.99% 123.44% 109.10% 122.79% 147.69%
Interest Burden Percent		 100.72% 107.41% 120.59% 194.12% 105.47% 89.44% 100.00% 95.16% 92.89% 104.04% 104.19%
Effective Tax Rate		 17.12% 7.59% 367.26% -16.67% 45.42% 0.00% 0.00% 0.00% 0.00% -22.79% -47.69%
Return on Invested Capital (ROIC)		 43.30% 7.60% -17.56% -0.92% 4.89% -2.31% -13.26% -16.27% -17.24% 41.79% 42.41%
ROIC Less NNEP Spread (ROIC-NNEP)		 43.04% 6.37% -13.69% -4.12% 4.77% -0.55% -1.05% -21.06% -2.25% 37.97% 40.57%
Return on Net Nonoperating Assets (RNNOA)		 -24.73% -3.40% 8.44% 2.16% -1.83% 0.21% 0.44% 9.45% 0.79% -11.07% -12.31%
Return on Equity (ROE)		 18.57% 4.20% -9.12% 1.24% 3.06% -2.10% -12.82% -6.82% -16.44% 30.72% 30.10%
Cash Return on Invested Capital (CROIC)		 -14.64% 20.96% 13.66% -64.08% -1.97% 3.54% 10.81% -8.35% -26.09% 27.76% 9.66%
Operating Return on Assets (OROA)		 17.93% 3.31% 2.09% 0.39% 3.72% -1.01% -7.29% -3.63% -9.42% 14.23% 12.87%
Return on Assets (ROA)		 14.97% 3.29% -6.74% 0.88% 2.14% -1.44% -8.53% -4.26% -9.55% 18.18% 19.80%
Return on Common Equity (ROCE)		 18.57% 4.20% -9.12% 1.24% 3.06% -2.10% -12.82% -6.82% -16.44% 30.72% 30.10%
Return on Equity Simple (ROE_SIMPLE)		 16.99% 4.15% -9.41% 1.21% 3.00% -2.12% -13.92% -7.10% -18.72% 26.86% 0.00%
Net Operating Profit after Tax (NOPAT)		 42 8.87 -17 -1.07 7.74 -3.68 -18 -19 -20 55 72
NOPAT Margin		 17.32% 4.61% -8.56% -0.51% 3.06% -1.71% -8.53% -8.67% -8.60% 22.62% 29.42%
Net Nonoperating Expense Percent (NNEP)		 0.26% 1.23% -3.87% 3.19% 0.12% -1.76% -12.21% 4.79% -14.99% 3.81% 1.84%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -8.96% -12.18% 25.07% 25.74%
Cost of Revenue to Revenue		 40.55% 32.06% 30.41% 30.67% 33.79% 31.36% 33.36% 32.16% 32.92% 28.21% 26.25%
SG&A Expenses to Revenue		 13.46% 16.46% 19.35% 19.68% 17.32% 21.48% 24.73% 25.37% 24.78% 18.92% 18.79%
R&D to Revenue		 7.23% 12.07% 11.96% 15.24% 16.75% 19.10% 22.11% 19.06% 16.34% 13.33% 14.05%
Operating Expenses to Revenue		 38.55% 62.95% 66.39% 69.77% 60.61% 71.08% 78.82% 80.22% 79.36% 53.36% 53.83%
Earnings before Interest and Taxes (EBIT)		 50 11 6.95 1.34 14 -3.82 -26 -12 -29 45 47
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 57 21 18 13 25 8.18 -17 -5.22 -23 53 57
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.69 2.17 2.35 2.07 2.62 3.27 3.08 2.17 2.67 3.29 1.80
Price to Tangible Book Value (P/TBV)		 5.16 3.61 3.89 4.53 5.23 6.34 6.61 4.40 7.78 6.21 3.09
Price to Revenue (P/Rev)		 2.76 2.85 2.89 2.47 2.72 3.90 3.15 2.01 1.81 2.88 2.01
Price to Earnings (P/E)		 15.81 52.19 0.00 171.26 87.52 0.00 0.00 0.00 0.00 12.26 6.70
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.74%
Earnings Yield		 6.33% 1.92% 0.00% 0.58% 1.14% 0.00% 0.00% 0.00% 0.00% 8.15% 14.93%
Enterprise Value to Invested Capital (EV/IC)		 4.36 3.71 5.03 2.76 3.60 4.77 4.77 3.12 3.17 4.43 2.10
Enterprise Value to Revenue (EV/Rev)		 2.25 2.10 2.07 2.00 2.33 3.42 2.70 1.60 1.65 2.56 1.69
Enterprise Value to EBITDA (EV/EBITDA)		 9.56 18.93 22.79 31.29 23.40 90.16 0.00 0.00 0.00 11.76 7.17
Enterprise Value to EBIT (EV/EBIT)		 10.75 38.19 57.55 313.86 43.17 0.00 0.00 0.00 0.00 13.96 8.70
Enterprise Value to NOPAT (EV/NOPAT)		 12.98 45.60 0.00 0.00 76.16 0.00 0.00 0.00 0.00 11.34 5.76
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.89 14.24 22.69 344.06 32.33 49.42 0.00 0.00 0.00 11.20 6.93
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 16.53 31.06 0.00 0.00 130.91 38.79 0.00 0.00 17.06 25.28
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.04 0.05 0.00 0.04 0.04 0.03 0.02
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.04 0.05 0.00 0.04 0.04 0.03 0.02
Financial Leverage		 -0.57 -0.53 -0.62 -0.53 -0.38 -0.39 -0.42 -0.45 -0.35 -0.29 -0.30
Leverage Ratio		 1.24 1.28 1.35 1.41 1.43 1.46 1.50 1.60 1.72 1.69 1.52
Compound Leverage Factor		 1.25 1.37 1.63 2.73 1.51 1.30 1.50 1.52 1.60 1.76 1.58
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 4.13% 4.60% 0.00% 3.99% 4.11% 3.16% 2.21%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 4.13% 4.60% 0.00% 3.99% 4.11% 3.16% 2.21%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 95.87% 95.40% 100.00% 96.01% 95.89% 96.84% 97.79%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.45 1.52 0.00 -1.62 -0.30 0.13 0.11
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 -3.91 -12.58 0.00 17.48 1.60 -1.44 -1.33
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.45 1.52 0.00 -1.62 -0.30 0.13 0.11
Debt to NOPAT		 0.00 0.00 0.00 0.00 1.46 -3.37 0.00 -0.44 -0.34 0.13 0.09
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 -12.72 27.94 0.00 4.81 1.82 -1.39 -1.06
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 1.46 -3.37 0.00 -0.44 -0.34 0.13 0.09
Altman Z-Score		 8.82 6.41 5.22 4.82 5.30 5.89 4.62 3.39 3.05 5.34 4.24
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.29 3.05 3.45 2.65 2.84 2.75 2.10 1.79 1.27 1.59 1.50
Quick Ratio		 2.75 2.66 3.12 2.20 2.33 2.29 1.74 1.48 0.94 1.26 1.10
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -14 24 13 -74 -3.11 5.63 15 -9.74 -31 37 16
Operating Cash Flow to CapEx		 5,050.81% 1,390.85% 570.82% 33.27% 244.79% 481.20% -126.56% -115.27% -85.99% 602.13% 663.62%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.86 0.60 0.58 0.61 0.69 0.57 0.60 0.65 0.75 0.77 0.66
Accounts Receivable Turnover		 8.13 5.82 4.56 3.92 4.15 3.60 3.76 3.60 3.63 4.03 4.33
Inventory Turnover		 3.59 3.24 3.99 4.90 5.00 4.11 6.11 6.29 5.61 5.21 6.00
Fixed Asset Turnover		 81.51 60.28 47.98 38.33 28.64 18.52 18.99 18.69 14.97 12.25 11.26
Accounts Payable Turnover		 10.05 6.96 6.89 8.45 9.50 8.19 10.30 5.51 4.45 4.46 4.72
Days Sales Outstanding (DSO)		 44.91 62.75 80.08 93.05 87.86 101.49 97.13 101.45 100.54 90.52 84.22
Days Inventory Outstanding (DIO)		 101.58 112.61 91.47 74.53 72.98 88.81 59.79 58.04 65.10 70.08 60.78
Days Payable Outstanding (DPO)		 36.32 52.45 52.97 43.21 38.43 44.58 35.43 66.23 82.09 81.83 77.31
Cash Conversion Cycle (CCC)		 110.18 122.90 118.59 124.37 122.40 145.72 121.49 93.26 83.56 78.77 67.70
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 125 109 80 153 164 154 121 112 122 141 196
Invested Capital Turnover		 2.50 1.65 2.05 1.82 1.60 1.36 1.56 1.88 2.01 1.85 1.44
Increase / (Decrease) in Invested Capital		 56 -16 -29 73 11 -9.31 -33 -9.24 10 18 55
Enterprise Value (EV)		 543 404 400 422 590 737 578 350 388 624 412
Market Capitalization		 666 549 558 521 688 840 677 441 425 700 488
Book Value per Share		 $6.23 $6.30 $5.92 $6.27 $6.52 $6.33 $5.50 $5.13 $3.99 $5.59 $7.15
Tangible Book Value per Share		 $3.24 $3.79 $3.58 $2.86 $3.27 $3.26 $2.56 $2.53 $1.37 $2.97 $4.16
Total Capital		 248 253 238 252 274 270 220 212 166 219 278
Total Debt		 0.00 0.00 0.00 0.00 11 12 0.00 8.44 6.82 6.93 6.14
Total Long-Term Debt		 0.00 0.00 0.00 0.00 11 12 0.00 8.44 6.82 6.93 6.14
Net Debt		 -123 -144 -158 -99 -98 -103 -98 -91 -37 -76 -76
Capital Expenditures (CapEx)		 1.36 2.04 3.09 3.69 7.45 3.10 2.17 5.00 12 9.25 8.96
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 4.19 -5.00 3.39 20 26 17 -0.48 -12 -12 -19 -13
Debt-free Net Working Capital (DFNWC)		 128 139 162 120 136 132 98 88 32 65 58
Net Working Capital (NWC)		 128 139 162 120 136 132 98 88 32 65 58
Net Nonoperating Expense (NNE)		 -0.33 -1.64 5.85 -4.12 -0.12 1.77 12 -4.55 9.59 -2.07 -1.35
Net Nonoperating Obligations (NNO)		 -123 -144 -158 -99 -98 -103 -98 -91 -37 -72 -76
Total Depreciation and Amortization (D&A)		 6.30 11 11 12 12 12 8.93 7.07 6.48 8.36 10
Debt-free, Cash-free Net Working Capital to Revenue		 1.74% -2.60% 1.75% 9.51% 10.33% 7.71% -0.22% -5.54% -5.11% -7.62% -5.29%
Debt-free Net Working Capital to Revenue		 52.88% 72.38% 83.70% 56.59% 53.65% 61.14% 45.70% 39.99% 13.40% 26.64% 23.70%
Net Working Capital to Revenue		 52.88% 72.38% 83.70% 56.59% 53.65% 61.14% 45.70% 39.99% 13.40% 26.64% 23.70%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.07 $0.27 ($0.56) $0.10 $0.22 ($0.14) ($0.77) ($0.36) ($0.74) $1.49 $1.91
Adjusted Weighted Average Basic Shares Outstanding		 39.57M 39.72M 39.80M 39.93M 40.05M 40.04M 39.61M 40.14M 40.19M 38.39M 38.21M
Adjusted Diluted Earnings per Share		 $1.06 $0.27 ($0.56) $0.10 $0.22 ($0.14) ($0.77) ($0.36) ($0.74) $1.46 $1.88
Adjusted Weighted Average Diluted Shares Outstanding		 39.74M 39.78M 39.80M 40.05M 40.14M 40.04M 39.61M 40.14M 40.19M 39.09M 38.88M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 40.13M 40.21M 40.16M 40.21M 40.27M 40.39M 40.00M 40.00M 37.79M 38.18M 37.47M
Normalized Net Operating Profit after Tax (NOPAT)		 42 8.87 4.33 -0.64 7.74 -3.68 -18 -9.66 -8.09 34 35
Normalized NOPAT Margin		 17.32% 4.61% 2.24% -0.30% 3.06% -1.71% -8.53% -4.41% -3.44% 14.18% 14.41%
Pre Tax Income Margin		 21.06% 5.92% 4.34% 1.23% 5.68% -1.59% -12.19% -5.34% -11.62% 19.12% 20.30%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.32%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% -92.21% -24.43% -39.64% -97.84% 0.01% 43.35%

Quarterly Metrics And Ratios for Onespan

This table displays calculated financial ratios and metrics derived from Onespan's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - 38,175,819.00 38,230,467.00 38,324,622.00 38,027,123.00 37,466,947.00
DEI Adjusted Shares Outstanding		 - - - - - - 38,175,819.00 38,230,467.00 38,324,622.00 38,027,123.00 37,466,947.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - 0.38 0.22 0.17 1.15 0.31
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 2.96% 11.14% 12.56% 9.31% -4.41% -2.79% -2.28% -1.77% 1.45% 2.85% 4.07%
EBITDA Growth		 46.38% 278.45% 340.59% 161.85% 509.81% 426.29% 17.10% 22.55% -6.14% 0.09% -9.01%
EBIT Growth		 34.50% 131.44% 276.27% 144.93% 310.25% 1,275.82% 19.25% 23.46% -14.12% -4.83% -15.97%
NOPAT Growth		 14.77% 121.03% 330.26% 147.41% 378.48% 4,155.61% 6.46% 40.66% -31.79% 73.54% -14.77%
Net Income Growth		 42.61% 114.24% 261.18% 136.92% 300.17% 6,427.89% 7.70% 27.30% -21.26% 51.25% -20.27%
EPS Growth		 44.44% 112.50% 266.67% 138.64% 310.00% 7,200.00% 5.71% 23.53% -19.05% 54.79% -18.92%
Operating Cash Flow Growth		 -210.98% -60.82% 103.67% 111.73% 287.69% 300.45% 8.92% 170.07% -19.15% 1.15% -4.07%
Free Cash Flow Firm Growth		 -136.03% -252.21% -138.91% 93.92% 77.91% 167.89% 0.50% -275.38% -1,827.76% -280.21% -919.41%
Invested Capital Growth		 3.19% 9.27% 22.01% 12.24% 9.58% 15.08% 18.76% 29.52% 28.66% 39.17% 63.07%
Revenue Q/Q Growth		 5.57% 6.95% 3.04% -6.04% -7.69% 8.76% 3.59% -5.56% -4.66% 10.27% 4.82%
EBITDA Q/Q Growth		 83.03% 205.31% 468.77% -39.14% 12.43% 35.24% 26.55% -36.31% -13.89% 44.21% 15.05%
EBIT Q/Q Growth		 74.96% 121.23% 1,427.15% -44.67% 17.18% 38.95% 32.36% -42.72% -18.48% 53.98% 16.87%
NOPAT Q/Q Growth		 73.01% 117.58% 2,120.80% -55.01% 58.52% 168.70% -44.44% -40.56% -23.13% 583.62% -72.72%
Net Income Q/Q Growth		 76.72% 110.67% 2,953.97% -51.34% 26.25% 247.98% -49.61% -42.49% -21.91% 568.45% -73.44%
EPS Q/Q Growth		 77.27% 110.00% 3,400.00% -51.43% 23.53% 247.62% -49.32% -43.24% -19.05% 564.71% -73.45%
Operating Cash Flow Q/Q Growth		 62.05% 141.66% 768.84% -91.46% 507.25% -11.11% 136.33% -78.83% 81.79% 11.21% 124.14%
Free Cash Flow Firm Q/Q Growth		 94.31% -42.73% 27.53% -3.25% 79.32% 538.69% -209.01% -289.53% -6.21% 60.04% -516.66%
Invested Capital Q/Q Growth		 4.88% 8.04% -8.53% 8.29% 2.40% 13.45% -5.71% 18.10% 1.72% 22.87% 10.48%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 69.12% 69.07% 73.09% 66.22% 73.87% 74.04% 74.32% 73.47% 73.62% 73.58% 73.57%
EBITDA Margin		 -4.68% 4.61% 25.42% 16.46% 20.05% 24.93% 30.46% 20.54% 18.55% 24.26% 26.63%
Operating Margin		 -8.15% 2.89% 21.76% 12.54% 20.01% 19.30% 27.12% 17.56% 14.42% 19.92% 22.47%
EBIT Margin		 -7.55% 1.50% 22.21% 13.08% 16.60% 21.21% 27.10% 16.44% 14.05% 19.63% 21.88%
Profit (Net Income) Margin		 -7.02% 0.70% 20.77% 10.76% 14.71% 47.06% 22.89% 13.94% 11.42% 69.21% 17.54%
Tax Burden Percent		 107.24% 32.47% 92.87% 77.19% 83.05% 212.69% 81.19% 78.93% 77.48% 347.76% 80.25%
Interest Burden Percent		 86.78% 144.01% 100.70% 106.54% 106.68% 104.32% 104.03% 107.44% 104.84% 101.40% 99.87%
Effective Tax Rate		 0.00% 67.53% 7.13% 22.81% 16.95% -112.69% 18.81% 21.07% 22.52% -247.76% 19.75%
Return on Invested Capital (ROIC)		 -11.70% 1.88% 48.06% 20.89% 34.27% 75.82% 43.44% 23.96% 19.00% 99.85% 25.33%
ROIC Less NNEP Spread (ROIC-NNEP)		 -10.65% 2.11% 47.63% 19.92% 35.87% 69.03% 42.73% 23.89% 18.81% 99.90% 25.75%
Return on Net Nonoperating Assets (RNNOA)		 4.27% -0.75% -21.41% -7.41% -12.96% -20.12% -16.69% -8.10% -6.47% -30.31% -7.84%
Return on Equity (ROE)		 -7.43% 1.13% 26.65% 13.48% 21.31% 55.70% 26.75% 15.86% 12.53% 69.53% 17.48%
Cash Return on Invested Capital (CROIC)		 -24.91% -26.09% -24.38% 1.51% 15.41% 27.76% 28.41% 16.34% 13.73% 9.66% -7.81%
Operating Return on Assets (OROA)		 -5.93% 1.13% 18.11% 11.06% 14.22% 16.43% 21.44% 12.28% 10.72% 12.96% 15.00%
Return on Assets (ROA)		 -5.52% 0.53% 16.94% 9.09% 12.60% 36.45% 18.11% 10.42% 8.71% 45.71% 12.02%
Return on Common Equity (ROCE)		 -7.43% 1.13% 26.65% 13.48% 21.31% 55.70% 26.75% 15.86% 12.53% 69.53% 17.48%
Return on Equity Simple (ROE_SIMPLE)		 -18.80% 0.00% -4.67% 9.14% 14.77% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -3.36 0.59 13 5.90 9.35 25 14 8.29 6.37 44 12
NOPAT Margin		 -5.70% 0.94% 20.21% 9.68% 16.62% 41.05% 22.02% 13.86% 11.17% 69.26% 18.03%
Net Nonoperating Expense Percent (NNEP)		 -1.04% -0.23% 0.44% 0.97% -1.60% 6.79% 0.71% 0.07% 0.19% -0.05% -0.42%
Return On Investment Capital (ROIC_SIMPLE)		 - 0.36% - - - 11.44% 5.86% 3.32% 2.60% 15.68% 4.28%
Cost of Revenue to Revenue		 30.88% 30.93% 26.91% 33.78% 26.13% 25.96% 25.68% 26.53% 26.38% 26.42% 26.43%
SG&A Expenses to Revenue		 19.65% 22.61% 15.43% 18.97% 20.17% 21.42% 15.07% 19.68% 21.30% 19.42% 16.62%
R&D to Revenue		 17.22% 13.88% 12.74% 13.69% 13.39% 13.55% 12.51% 15.78% 15.42% 12.70% 13.77%
Operating Expenses to Revenue		 77.27% 66.19% 51.33% 53.68% 53.87% 54.74% 47.20% 55.91% 59.20% 53.66% 51.10%
Earnings before Interest and Taxes (EBIT)		 -4.44 0.94 14 7.97 9.34 13 17 9.84 8.02 12 14
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -2.75 2.90 16 10 11 15 19 12 11 15 18
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.42 2.67 2.57 2.72 3.24 3.29 2.42 2.63 2.56 1.80 1.45
Price to Tangible Book Value (P/TBV)		 5.80 7.78 6.50 6.32 6.99 6.21 4.31 4.96 4.83 3.09 3.10
Price to Revenue (P/Rev)		 1.88 1.81 1.81 1.96 2.58 2.88 2.32 2.65 2.52 2.01 1.61
Price to Earnings (P/E)		 0.00 0.00 0.00 29.71 21.97 12.26 9.64 10.65 10.47 6.70 5.64
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.82% 1.44% 2.27% 3.74% 4.65%
Earnings Yield		 0.00% 0.00% 0.00% 3.37% 4.55% 8.15% 10.37% 9.39% 9.55% 14.93% 17.73%
Enterprise Value to Invested Capital (EV/IC)		 3.23 3.17 3.40 3.53 4.52 4.43 3.47 3.52 3.32 2.10 1.56
Enterprise Value to Revenue (EV/Rev)		 1.60 1.65 1.57 1.73 2.29 2.56 1.91 2.29 2.19 1.69 1.38
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 928.35 16.05 13.79 11.76 8.27 9.50 9.23 7.17 6.08
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 22.67 17.18 13.96 9.74 11.20 11.04 8.70 7.59
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 28.61 19.24 11.34 8.28 9.43 9.62 5.76 4.82
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 127.38 17.17 12.10 11.20 7.96 8.91 8.93 6.93 5.81
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 247.24 30.65 17.06 13.28 24.28 27.19 25.28 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.03 0.04 0.04 0.04 0.04 0.03 0.03 0.03 0.03 0.02 0.02
Long-Term Debt to Equity		 0.03 0.04 0.04 0.04 0.04 0.03 0.03 0.03 0.03 0.02 0.02
Financial Leverage		 -0.40 -0.35 -0.45 -0.37 -0.36 -0.29 -0.39 -0.34 -0.34 -0.30 -0.30
Leverage Ratio		 1.56 1.72 1.61 1.60 1.54 1.69 1.52 1.53 1.46 1.52 1.43
Compound Leverage Factor		 1.36 2.48 1.62 1.71 1.64 1.76 1.58 1.64 1.53 1.54 1.42
Debt to Total Capital		 2.90% 4.11% 3.40% 3.77% 3.68% 3.16% 2.90% 2.82% 2.64% 2.21% 2.09%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 2.90% 4.11% 3.40% 3.77% 3.68% 3.16% 2.90% 2.82% 2.64% 2.21% 2.09%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 97.10% 95.89% 96.60% 96.23% 96.32% 96.84% 97.10% 97.18% 97.36% 97.79% 97.91%
Debt to EBITDA		 -0.19 -0.30 14.65 0.26 0.18 0.13 0.12 0.12 0.11 0.11 0.10
Net Debt to EBITDA		 2.33 1.60 -143.59 -2.15 -1.73 -1.44 -1.76 -1.48 -1.38 -1.33 -1.00
Long-Term Debt to EBITDA		 -0.19 -0.30 14.65 0.26 0.18 0.13 0.12 0.12 0.11 0.11 0.10
Debt to NOPAT		 -0.22 -0.34 -1.29 0.47 0.25 0.13 0.12 0.12 0.12 0.09 0.08
Net Debt to NOPAT		 2.63 1.82 12.68 -3.83 -2.41 -1.39 -1.76 -1.47 -1.44 -1.06 -0.79
Long-Term Debt to NOPAT		 -0.22 -0.34 -1.29 0.47 0.25 0.13 0.12 0.12 0.12 0.09 0.08
Altman Z-Score		 3.92 3.39 4.28 4.43 5.82 5.03 5.16 5.02 5.19 3.95 3.76
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.60 1.27 1.46 1.54 1.76 1.59 1.96 1.77 1.75 1.50 1.25
Quick Ratio		 1.17 0.94 1.04 1.15 1.32 1.26 1.55 1.34 1.26 1.10 0.85
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -6.86 -9.79 -7.10 -7.33 -1.52 6.65 -7.06 -28 -29 -12 -72
Operating Cash Flow to CapEx		 -292.77% 89.97% 885.39% 101.14% 716.14% 630.12% 1,806.03% 334.79% 445.84% 427.37% 902.95%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.79 0.75 0.82 0.85 0.86 0.77 0.79 0.75 0.76 0.66 0.69
Accounts Receivable Turnover		 5.55 3.63 7.50 6.04 7.26 4.03 7.80 6.10 8.57 4.33 7.82
Inventory Turnover		 6.15 5.61 5.06 5.50 5.07 5.21 5.26 5.24 5.20 6.00 6.45
Fixed Asset Turnover		 16.75 14.97 13.68 13.81 13.11 12.25 11.66 11.56 11.44 11.26 11.17
Accounts Payable Turnover		 5.81 4.45 5.20 4.70 4.84 4.46 5.58 4.15 5.33 4.72 5.62
Days Sales Outstanding (DSO)		 65.73 100.54 48.70 60.42 50.30 90.52 46.80 59.81 42.57 84.22 46.66
Days Inventory Outstanding (DIO)		 59.38 65.10 72.11 66.36 71.99 70.08 69.35 69.70 70.17 60.78 56.63
Days Payable Outstanding (DPO)		 62.81 82.09 70.13 77.66 75.38 81.83 65.37 87.98 68.44 77.31 64.95
Cash Conversion Cycle (CCC)		 62.30 83.56 50.68 49.11 46.91 78.77 50.77 41.54 44.30 67.70 38.35
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 113 122 112 121 124 141 133 157 160 196 217
Invested Capital Turnover		 2.05 2.01 2.38 2.16 2.06 1.85 1.97 1.73 1.70 1.44 1.40
Increase / (Decrease) in Invested Capital		 3.51 10 20 13 11 18 21 36 36 55 84
Enterprise Value (EV)		 366 388 381 428 561 624 462 552 530 412 339
Market Capitalization		 430 425 439 485 631 700 560 638 609 488 395
Book Value per Share		 $4.44 $3.99 $4.52 $4.72 $5.14 $5.59 $6.05 $6.34 $6.22 $7.15 $7.26
Tangible Book Value per Share		 $1.85 $1.37 $1.79 $2.03 $2.39 $2.97 $3.41 $3.36 $3.29 $4.16 $3.40
Total Capital		 183 166 177 186 202 219 238 250 245 278 278
Total Debt		 5.29 6.82 6.01 7.00 7.43 6.93 6.91 7.03 6.45 6.14 5.80
Total Long-Term Debt		 5.29 6.82 6.01 7.00 7.43 6.93 6.91 7.03 6.45 6.14 5.80
Net Debt		 -64 -37 -59 -57 -70 -76 -98 -86 -79 -76 -56
Capital Expenditures (CapEx)		 2.54 3.45 3.05 2.28 1.95 1.97 1.63 1.86 2.54 2.94 3.12
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -15 -12 -23 -14 -16 -19 -22 -19 -18 -13 -25
Debt-free Net Working Capital (DFNWC)		 55 32 42 50 61 65 84 74 67 58 25
Net Working Capital (NWC)		 55 32 42 50 61 65 84 74 67 58 25
Net Nonoperating Expense (NNE)		 0.78 0.15 -0.36 -0.66 1.07 -3.68 -0.55 -0.05 -0.14 0.03 0.32
Net Nonoperating Obligations (NNO)		 -64 -37 -59 -57 -70 -72 -98 -85 -79 -76 -55
Total Depreciation and Amortization (D&A)		 1.69 1.96 2.08 2.06 1.94 2.28 2.13 2.46 2.57 2.92 3.13
Debt-free, Cash-free Net Working Capital to Revenue		 -6.36% -5.11% -9.44% -5.71% -6.70% -7.62% -8.97% -7.89% -7.48% -5.29% -10.12%
Debt-free Net Working Capital to Revenue		 23.92% 13.40% 17.33% 20.27% 25.08% 26.64% 34.56% 30.72% 27.96% 23.70% 10.12%
Net Working Capital to Revenue		 23.92% 13.40% 17.33% 20.27% 25.08% 26.64% 34.56% 30.72% 27.96% 23.70% 10.12%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.10) $0.01 $0.35 $0.17 $0.21 $0.76 $0.38 $0.22 $0.17 $1.14 $0.31
Adjusted Weighted Average Basic Shares Outstanding		 40.45M 40.19M 38.06M 38.53M 38.70M 38.39M 38.11M 38.21M 38.14M 38.21M 37.61M
Adjusted Diluted Earnings per Share		 ($0.10) $0.01 $0.35 $0.17 $0.21 $0.73 $0.37 $0.21 $0.17 $1.13 $0.30
Adjusted Weighted Average Diluted Shares Outstanding		 40.45M 40.19M 38.46M 39.01M 39.46M 39.09M 39.03M 39.01M 38.77M 38.88M 38.07M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 39.89M 37.79M 37.85M 37.87M 37.99M 38.18M 38.23M 38.32M 38.03M 37.47M 37.07M
Normalized Net Operating Profit after Tax (NOPAT)		 1.21 4.24 14 7.22 9.92 8.64 14 8.33 6.91 9.10 12
Normalized NOPAT Margin		 2.06% 6.73% 22.35% 11.84% 17.65% 14.13% 22.56% 13.92% 12.12% 14.46% 18.03%
Pre Tax Income Margin		 -6.55% 2.16% 22.36% 13.93% 17.71% 22.13% 28.19% 17.66% 14.73% 19.90% 21.85%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7.89% 0.00% 0.00% 25.32% 26.96%
Augmented Payout Ratio		 -10.58% -97.84% 0.00% 0.00% 89.19% 0.01% 7.89% 0.00% 10.83% 43.35% 53.46%

Financials Breakdown Chart

Key Financial Trends

OneSpan’s latest quarter shows a business that is profitable and still generating healthy operating cash flow, but with a clear slowdown versus the prior quarter and a balance sheet that reflects acquisition-related asset growth and heavy working-capital needs.

In Q1 2026, OneSpan reported $65.9 million in revenue and $11.6 million in net income, versus $63.3 million in Q1 2025 and $43.5 million in Q4 2025. The quarter also produced $28.2 million in operating cash flow. That is solid, but it came after a much stronger Q4 2025 operating performance, so the latest results look more like a reset than a continuation of the prior surge.

Over the last four years, the company has moved from the volatile, loss-making periods seen in 2022–2023 to a much more stable profitability profile in 2024–2026. Revenue has been generally steady in the mid-$50 million to mid-$60 million quarterly range, while margins improved sharply in 2024 and 2025. However, the business still appears to be relying on acquisitions and is carrying substantial goodwill and intangible assets, which adds some risk if future growth disappoints.

  • Revenue continues to hold up: Q1 2026 revenue of $65.9 million was up from $63.2 million in Q1 2025 and above $62.9 million in Q4 2025.
  • Profitability remains positive: Q1 2026 net income of $11.6 million shows the company is still producing bottom-line earnings.
  • Operating cash flow is strong: Q1 2026 operating cash flow of $28.2 million was well above net income, indicating decent cash conversion.
  • Gross profit remains healthy: Q1 2026 gross profit was $48.5 million, or roughly a 73% gross margin.
  • Liquidity is adequate: The company ended Q1 2026 with $49.8 million in cash and equivalents and $122.9 million in current assets.
  • Debt looks manageable: Total liabilities of $111.1 million are below total equity of $272.0 million.
  • Q1 2026 was weaker than Q4 2025: Net income fell from $43.5 million in Q4 2025 to $11.6 million in Q1 2026, and revenue slipped modestly from $62.9 million to $65.9 million but earnings normalized sharply.
  • Acquisition activity continues to matter: Q1 2026 cash flow included $34.6 million of acquisitions, which helped push goodwill to $128.1 million and intangible assets to $16.5 million.
  • Deferred revenue is still a major balance-sheet item: Current deferred revenue was $60.7 million in Q1 2026, supporting future revenue visibility.
  • Working capital consumed cash in the latest quarter: Changes in operating assets and liabilities reduced operating cash flow support compared with net income dynamics in prior periods.
  • Cash declined sharply from year-end levels: Cash and equivalents fell from $85.6 million in Q3 2025 and $92.9 million in Q2 2025 to $49.8 million in Q1 2026, largely due to investing and financing outflows.
  • Shareholder returns are reducing cash: The company spent $5.4 million repurchasing stock and paid $5.0 million in dividends in Q1 2026.
  • Balance sheet carries acquisition risk: Goodwill of $128.1 million is a large portion of total assets, so any impairment could pressure equity.

Looking at the bigger picture, OneSpan’s quarterly revenue has been relatively stable since 2023, but earnings power improved materially in 2024 and 2025 as operating income recovered from the losses seen in 2022–2023. For example, the company posted negative operating income in Q1 2023 and Q3 2022, but by 2025 it was routinely generating double-digit millions in operating profit. That suggests meaningful operational improvement, even if the latest quarter was not as strong as the prior one.

Bottom line: OneSpan appears to be a profitable, cash-generating software/security company with a solid balance sheet, but investors should watch for whether Q1 2026 was just a seasonal dip or the start of slower growth. The key positives are profitability, operating cash flow, and a large deferred revenue base; the main risks are cash outflows from acquisitions, a large goodwill balance, and the recent drop from Q4’s unusually strong earnings.

07/21/26 07:30 AM ETAI Generated. May Contain Errors.

Onespan Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Onespan's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Onespan's net income appears to be on an upward trend, with a most recent value of $72.90 million in 2025, rising from $42.15 million in 2015. The previous period was $57.08 million in 2024. Find out what analysts predict for Onespan in the coming months.

Onespan's total operating income in 2025 was $48.45 million, based on the following breakdown:
  • Total Gross Profit: $179.35 million
  • Total Operating Expenses: $130.91 million

Over the last 10 years, Onespan's total revenue changed from $241.44 million in 2015 to $243.18 million in 2025, a change of 0.7%.

Onespan's total liabilities were at $125.86 million at the end of 2025, a 0.3% decrease from 2024, and a 97.4% increase since 2015.

In the past 10 years, Onespan's cash and equivalents has ranged from $43.00 million in 2023 to $96.17 million in 2022, and is currently $70.50 million as of their latest financial filing in 2025.

Over the last 10 years, Onespan's book value per share changed from 6.23 in 2015 to 7.15 in 2025, a change of 14.8%.


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Financial statements for NASDAQ:OSPN last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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