OSPN
OneSpan Inc.12.81
+0.30+2.4%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A reaffirms with demand color.
Q&A largely reaffirmed prepared remarks, adding light color on a reasonable Q1 demand start despite Q4 software pull-forward. New CRO Sean targets sales discipline and GTM tweaks, but six-to-nine-month cycles mean H2 payoff. Hardware declines should ease as mobile banking stabilizes. M&A stays tech-focused, like Build38, shunning revenue grabs. AI offers agent-driven authentication tailwinds; app shielding looks insulated short-term. No surprises. Watch sales ramp for growth kick.
Key Stats
Market Cap
490.94MP/E (TTM)
8.60Basic EPS (TTM)
1.49Dividend Yield
0.04%Recent Filings
8-K
Q4 revenue up 3%, ARR +11%
OneSpan reported Q4 revenue up 3% to $62.9M, with subscription revenue rising 7% to $38.6M; full-year revenue flat at $243.2M but operating income grew 8% to $48.4M. ARR climbed 11% to $186.9M, fueled by Nok Nok Labs acquisition closed June 4, 2025. Subscription revenue doubled down. Build38 deal pending; 2026 revenue eyed at $244M-$249M.
10-K
FY2025 results
OneSpan delivered flat FY2025 revenue of $243M, matching 2024, as Cybersecurity dipped 2% to $178M on hardware declines while Digital Agreements grew 7% to $65M via cloud subscriptions. Q4 profitability returned in 2023 and strengthened through 2025, driving $31.6M shareholder returns via dividends and $13M buybacks. Cash generation stayed robust at $59M operating cash flow. Supply chain disruptions threaten Digipass hardware momentum.
10-Q
Q3 FY2025 results
OneSpan posted Q3 revenue of $57.1M, up 1% y/y yet flat q/q (derived), with gross margin steady at 74% as Digital Agreements grew 9% y/y on subscription strength while Security Solutions dipped 1% from mobile-first hardware shifts. Operating income fell to $8.2M from $11.3M y/y, reflecting higher R&D and sales costs post-Nok Nok Labs buyout closed June 2025 for $18.4M (cash/deferred per Note 6), adding $5.4M goodwill and $3.1M developed tech (6-year life). Cash hit $85.6M with $46.9M YTD operating cash flow; $100M revolver unused save $0.4M letters of credit, compliant with covenants. Repurchased $6.3M shares. Competition pressures pricing in authentication.
8-K
Q3 revenue up 1%, guidance trimmed
10-Q
Q2 FY2025 results
OneSpan's Q2 revenue dipped 2% year-over-year to $59.8M, yet gross margins climbed to 73% from 66% on lower hardware costs and a software shift, while operating income rose 38% to $10.5M. Security Solutions revenue fell 3% to $44.2M amid mobile-first trends curbing hardware sales, but Digital Agreements grew 1% to $15.6M via cloud expansions. The $18.4M Nok Nok Labs acquisition in June added passwordless tech to Security Solutions, recognizing $5.4M goodwill and $4.4M intangibles amortized over 5-6 years. Cash hit $92.9M with $35.6M operating cash flow for the half; the new $100M revolver remains undrawn. Diluted EPS of $0.21 aligns with shares outstanding. Competition from mobile authentication rivals lingers.
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