Technology · Software - Infrastructure
Price
$14.51
Market Cap
$537.9M
Employees
465
Beta
1.53
Avg Volume
516,940
CEO
Victor T. Limongelli
Business Description
Globally, OneSpan Inc., along with its affiliated entities, focuses on creating, developing, and marketing digital solutions designed to enhance identity management, strengthen security, and boost business productivity. The company's diverse product range includes OneSpan Sign, an electronic signature platform capable of addressing needs from occasional document agreements to high-volume transaction processing. It also offers OneSpan Cloud Authentication, a cloud-based multifactor authentication (MFA) system supporting a variety of verification methods such as biometrics, push notifications, visual cryptograms for transaction signing, SMS, and hardware authenticators. Financial institutions and banks benefit from its OneSpan Identity Verification service, which facilitates secure identity confirmation. Further expanding its portfolio, OneSpan provides the Mobile Security Suite, a comprehensive software development kit, and Mobile Authenticator Studio, a standalone mobile authentication application. The company also supplies authentication servers, enabling clients to implement robust access control measures. Complementing these offerings are the Trusted Identity Platform, a cloud-based solution engineered to simplify and secure user journeys, Intelligent Adaptive Authentication, and Risk Analytics, an extensive anti-fraud system. OneSpan disseminates its solutions through a combination of its dedicated direct sales force and a network of distributors, resellers, systems integrators, and original equipment manufacturers (OEMs). Founded in 1991 and based in Chicago, Illinois, the company rebranded as OneSpan Inc. in May 2018, having previously been known as VASCO Data Security International, Inc. It was also formerly a subsidiary of Guidewire Software, Inc.
Business History
Price Overview
Price at report time · Jul 2, 3:30pm (0m ago)
$14.58
Change · Jul 2
-0.16 (-1.09%)
Day Range
$14.42 – $14.86
52-Week Range
$10.07 – $18.13
50-Day MA
$13.11
200-Day MA
$12.75
Volume
126,817.36
Right now · live
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Real-time — the change above is the move since the report (over 0m).
Analyst Price Targets
Low
$13.00
Consensus
$15.50
High
$18.00
(2 analysts)
Share Structure
Outstanding
37,072,850.00
Float
36,326,944.00
Free Float
98.0%
High free float
— 98.0% of shares trade freely, ~2% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
7.84
Stock Price: $14.51
EPS (Diluted): 1.91
EPS (Diluted): 1.91
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
1.79
Stock Price: $14.51
Total Equity: $271.84M
Shares: 38,468,000
Total Equity: $271.84M
Shares: 38,468,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
8.36
Market Cap: $537.93M
Total Debt: $0.00
Cash: $70.50M
EBITDA: $64.40M
Total Debt: $0.00
Cash: $70.50M
EBITDA: $64.40M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$422.3M
Market Cap: $537.93M
Total Debt: $0.00
Cash: $70.50M
Total Debt: $0.00
Cash: $70.50M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
70.7%
Gross Profit: $171.90M
Revenue: $243.18M
Revenue: $243.18M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
20.6%
Operating Income: $50.07M
Revenue: $243.18M
Revenue: $243.18M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
30.0%
Net Income: $72.90M
Revenue: $243.18M
Revenue: $243.18M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
27.3%
Net Income: $72.90M
Total Equity: $271.84M
Total Equity: $271.84M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
16.7%
Operating Income: $50.07M
Tax Rate: -47.7%
Equity: $271.84M
Total Debt: $0.00
Cash: $70.50M
Tax Rate: -47.7%
Equity: $271.84M
Total Debt: $0.00
Cash: $70.50M
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.50
Current Assets: $172.21M
Current Liabilities: $114.57M
Current Liabilities: $114.57M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.00
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $271.84M
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $271.84M
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$6.32
Revenue: $243.18M
Shares: 38,468,000
Shares: 38,468,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$7.07
Total Equity: $271.84M
Shares: 38,468,000
Shares: 38,468,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$1.31
Operating CF: $59.45M
CapEx: -$8.96M
Shares: 38,468,000
CapEx: -$8.96M
Shares: 38,468,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
3.8%
Last Dividend: N/A
Stock Price: $14.51
Stock Price: $14.51
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $72.90M
Net Income: $72.90M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares OSPN against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jul 2, 2026 3:30pm (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $214.5M | $219.0M | $235.1M | $243.2M | $243.2M |
| Cost of Revenue | $71.5M | $70.4M | $77.4M | $68.6M | $71.3M |
| Gross Profit | $142.9M | $148.6M | $157.7M | $174.6M | $171.9M |
| Operating Expenses | $169.1M | $175.7M | $186.6M | $129.8M | $121.8M |
| Operating Income | -$26.1M | -$27.1M | -$28.9M | $44.8M | $50.1M |
| Net Income | -$30.6M | -$14.4M | -$29.8M | $57.1M | $72.9M |
| EBITDA | -$17.2M | -$6.7M | -$5.1M | $57.6M | $64.4M |
| EPS | $-0.77 | $-0.36 | $-0.74 | $1.49 | $1.91 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jul 2, 2026 3:30pm (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $63.4M | $96.5M | $42.5M | $83.2M | $70.5M |
| Total Current Assets | $187.1M | $197.5M | $146.3M | $175.1M | $172.2M |
| Total Assets | $342.3M | $335.1M | $289.2M | $338.7M | $397.7M |
| Current Liabilities | $89.1M | $110.8M | $114.8M | $110.3M | $114.6M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $122.5M | $131.8M | $130.1M | $126.2M | $125.9M |
| Total Equity | $219.8M | $203.3M | $159.1M | $212.5M | $271.8M |
| Retained Earnings | $143.2M | $128.7M | $98.9M | $151.3M | $209.8M |
Cash Flow (Annual)
Last updated: Jul 2, 2026 3:30pm (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$2.7M | -$5.8M | -$10.7M | $55.7M | $59.5M |
| Capital Expenditure | -$2.2M | -$5.0M | -$12.5M | -$9.2M | -$9.0M |
| Free Cash Flow | -$4.9M | -$10.8M | -$23.3M | $46.4M | $50.5M |
| Acquisitions (net) | $35,000 | $18.9M | -$1.8M | $0 | -$14.7M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$7.5M | -$5.7M | -$29.2M | $-3,000 | -$13.1M |
| Net Change in Cash | -$25.0M | $33.1M | -$53.8M | $39.8M | -$12.8M |
Analyst Estimates (Annual)
Last updated: Jul 2, 2026 3:30pm (just now)| Metric | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| Revenue |
$240.4M $240.0M – $240.8M
|
$240.0M $240.0M – $240.1M
|
$246.4M $245.7M – $247.0M
|
$253.9M $253.6M – $254.2M
|
| EBITDA |
$136.9M $136.7M – $137.1M
|
$136.7M $136.7M – $136.7M
|
$140.3M $140.0M – $140.7M
|
$144.6M $144.4M – $144.8M
|
| Net Income |
$50.4M $50.1M – $50.7M
|
$53.7M $53.4M – $54.1M
|
$46.8M $44.9M – $48.7M
|
$50.3M $45.2M – $55.4M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jul 2, 2026 3:30pm (just now)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +2.1% | +7.4% | +3.4% | +0.0% |
| Gross Profit Growth | +3.9% | +6.2% | +10.7% | -1.5% |
| Operating Income Growth | -3.8% | -6.5% | +255.2% | +11.8% |
| Net Income Growth | +52.8% | -106.5% | +291.6% | +27.7% |
| EBITDA Growth | +60.9% | +24.6% | +1,233.9% | +11.8% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-16 | Martell Jorge Garcia | S-Sale | 20,000.00 | $14.45 | $288,982 |
| 2026-06-16 | Jain Ashish | M-Exempt | 4,731.00 | $0.00 | $0 |
| 2026-06-16 | Jain Ashish | F-InKind | 1,693.00 | $14.26 | $24,142 |
| 2026-06-16 | Jain Ashish | M-Exempt | 4,731.00 | $0.00 | $0 |
| 2026-05-14 | Martell Jorge Garcia | M-Exempt | 1,133.00 | $0.00 | $0 |
| 2026-05-14 | Martell Jorge Garcia | F-InKind | 333.00 | $12.18 | $4,056 |
| 2026-05-14 | Martell Jorge Garcia | M-Exempt | 1,133.00 | $0.00 | $0 |
| 2026-05-14 | Mataac Lara | M-Exempt | 1,133.00 | $0.00 | $0 |
| 2026-05-14 | Mataac Lara | F-InKind | 333.00 | $12.18 | $4,056 |
| 2026-05-14 | Mataac Lara | M-Exempt | 1,133.00 | $0.00 | $0 |
| 2026-03-30 | Mataac Lara | P-Purchase | 22,739.00 | $0.00 | $0 |
| 2026-03-30 | Jain Ashish | A-Award | 43,019.00 | $0.00 | $0 |
| 2026-03-30 | Martell Jorge Garcia | A-Award | 27,041.00 | $0.00 | $0 |
| 2026-03-30 | Limongelli Victor | A-Award | 93,412.00 | $0.00 | $0 |
| 2026-03-16 | Martell Jorge Garcia | S-Sale | 15,000.00 | $10.33 | $154,997 |
| 2026-03-06 | Martell Jorge Garcia | M-Exempt | 3,055.00 | $0.00 | $0 |
| 2026-03-06 | Martell Jorge Garcia | F-InKind | 889.00 | $10.89 | $9,681 |
| 2026-03-06 | Martell Jorge Garcia | M-Exempt | 3,055.00 | $0.00 | $0 |
| 2026-03-04 | Mataac Lara | M-Exempt | 2,692.00 | $0.00 | $0 |
| 2026-03-04 | Mataac Lara | F-InKind | 933.00 | $10.53 | $9,824 |
Dividend History (Last 20)
Last updated: Jul 2, 2026 3:30pm (just now)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-05-14 | $0.13 | 2026-04-30 | 2026-05-14 | 2026-06-04 |
| 2026-03-13 | $0.13 | 2026-02-26 | 2026-03-13 | 2026-03-27 |
| 2025-11-14 | $0.12 | 2025-10-30 | 2025-11-14 | 2025-12-05 |
| 2025-08-15 | $0.12 | 2025-08-05 | 2025-08-15 | 2025-09-05 |
| 2025-05-16 | $0.12 | 2025-05-01 | 2025-05-16 | 2025-06-06 |
| 2025-01-31 | $0.12 | 2024-12-16 | 2025-01-31 | 2025-02-14 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for OSPN — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.369 · ed375950 · 2026-07-02 14:37:41