OneSpan Past Earnings Performance
Past criteria checks 5/6
OneSpan has been growing earnings at an average annual rate of 62.6%, while the Software industry saw earnings growing at 27.2% annually. Revenues have been growing at an average rate of 3.7% per year. OneSpan's return on equity is 25.7%, and it has net margins of 28.5%.
Key information
62.65%
Earnings growth rate
63.21%
EPS growth rate
| Software Industry Growth | 17.33% |
| Revenue growth rate | 3.70% |
| Return on equity | 25.72% |
| Net Margin | 28.47% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Recent updates
Narrative Update • May 10
OSPN: Future Stability Will Depend On Automation, Capital Returns And M&A Options
Analysts have maintained their $12.00 price target on OneSpan, citing slightly higher assumed discount rates and profit margins, as well as a lower future P/E. Taken together, these factors leave their overall valuation view unchanged for now.Analysis Article • May 08
Additional Considerations Required While Assessing OneSpan's (NASDAQ:OSPN) Strong Earnings
Despite posting some strong earnings, the market for OneSpan Inc.'s ( NASDAQ:OSPN ) stock hasn't moved much. Our...Analysis Article • May 03
Results: OneSpan Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts
As you might know, OneSpan Inc. ( NASDAQ:OSPN ) just kicked off its latest first-quarter results with some very strong...
Narrative Update • Apr 21
OSPN: Dividend And Buybacks Will Support Future Share Price Gains
Analysts have adjusted their price target on OneSpan to $16.25, reflecting updated views on a slightly higher discount rate, modestly lower projected revenue growth and profit margins, and a higher assumed future P/E multiple. What's in the News Launch of OneSpan Sign Integration for Workato, giving customers low-code tools to automate secure eSignature workflows across CRM, ERP, storage, and collaboration platforms without custom development.Narrative Update • Apr 07
OSPN: Stable Outlook Will Rely On Automation Initiatives And Dividend Support
Analysts have maintained their $12.00 price target on OneSpan, citing only minor adjustments in the discount rate, revenue growth, profit margin, and future P/E assumptions as the basis for keeping their view unchanged. What's in the News OneSpan launched its OneSpan Sign Integration for Workato, giving enterprises a low-code way to automate secure eSignature workflows across CRM, ERP, collaboration tools, and storage systems such as SharePoint, OneDrive, Google Drive, Dropbox, and Box (Client Announcements).Narrative Update • Mar 16
OSPN: Higher Revenue Outlook And Dividend Growth Will Support Upside Potential
Analysts have trimmed their price target on OneSpan from $13.00 to $12.00 per share, citing revised assumptions that combine higher revenue growth expectations with lower projected profit margins and a higher future P/E multiple. What's in the News OneSpan issued financial guidance for full year 2026, with total revenue expected in a range of $244 million to $249 million and annual recurring revenue projected between $192 million and $196 million (company guidance).Narrative Update • Mar 02
OSPN: M&A And Dividend Policy Will Support Future Share Gains
Analysts have reduced their OneSpan price target slightly from $16.50 to $16.25, reflecting updated views on growth, margins, and the P/E ratio they consider appropriate for the stock. What's in the News OneSpan is exploring mergers and acquisitions.Narrative Update • Feb 16
OSPN: Stable Assumptions And Steady Outlook Will Support Upside Potential
Analysts have maintained their $13.00 price target for OneSpan, citing only small adjustments to assumptions such as the discount rate, revenue growth, profit margins, and future P/E. Taken together, these revisions keep their overall valuation view essentially unchanged.Narrative Update • Feb 02
OSPN: Mobile Security Wins And Stable Outlook Will Support Balanced Prospects
Narrative Update on OneSpan Analysts have kept their price target for OneSpan steady at US$13.00. They cite only modest refinements to assumptions for discount rate, revenue growth, profit margin, and future P/E rather than a change in their overall view of the stock.Narrative Update • Jan 19
OSPN: Revised Outlook Will Balance Slower Sales With Higher Margins
Analysts have reduced their price target on OneSpan from US$15.00 to US$13.00 as they incorporate updated assumptions that combine more modest revenue growth expectations, higher projected profit margins, and a lower future P/E multiple. What's in the News Sumitomo Mitsui Trust Bank, described as Japan's largest trust bank, selected SCSK Corporation and OneSpan to strengthen mobile banking security using OneSpan's cloud-based FIDO authentication.Narrative Update • Jan 04
OSPN: Expanding Phishing-Resistant Authentication In Banking Will Drive Future Share Gains
Analysts have slightly raised their price target on OneSpan to approximately $16.50 per share, reflecting modest improvements in discount rate assumptions, long term revenue growth, and expected profit margins that support a marginally higher future P E multiple. What's in the News Sumitomo Mitsui Trust Bank selected OneSpan and SCSK to deploy Japan's first cloud based FIDO authentication for mobile banking, targeting growing phishing and account takeover fraud and meeting stricter FSA multi factor rules (client announcement).Narrative Update • Dec 17
OSPN: Rising Adoption Of Phishing-Resistant Authentication Will Drive Future Share Gains
Analysts have made no changes to their fair value estimate for OneSpan, maintaining the target at $16.50 per share. They view the minor adjustments in discount rate, revenue growth, profit margin, and future P/E assumptions as too small to alter their overall outlook.Narrative Update • Dec 03
OSPN: Rising Demand For Phishing-Resistant Authentication Will Drive Shares Higher
Analysts have modestly raised their price target on OneSpan to 16.50 dollars, reflecting slightly higher long term valuation assumptions, driven by stable growth expectations, resilient profit margins and a marginally higher discount rate. What's in the News Sumitomo Mitsui Trust Bank selects OneSpan and SCSK for Japan's first cloud based FIDO authentication deployment in mobile banking, targeting phishing and account takeover fraud amid stricter FSA mandates for phishing resistant authentication (Key Developments) OneSpan's OneSpan Cloud Authentication platform underpins SuMiTB's plan to embed FIDO directly into mobile transactions to create one of Japan's most advanced security frameworks and enhance regulatory compliance (Key Developments) OneSpan completes a buyback tranche, repurchasing 447,743 shares, or 1.17 percent of shares, for 6.3 million dollars under its May 2024 authorization (Key Developments) The company lowers full year 2025 revenue guidance to 239 million to 241 million dollars, down from the prior range of 245 million to 251 million dollars, with both software and hardware outlooks trimmed (Key Developments) OneSpan makes a strategic investment in and partnership with ThreatFabric to integrate mobile threat intelligence, malware risk detection, and behavioral risk evaluation, enhancing its fraud prevention capabilities for financial institutions facing rising APP fraud and hybrid cyber threats (Key Developments) Valuation Changes Fair value estimate remains unchanged at 16.50 dollars per share, indicating stable long term intrinsic valuation.Narrative Update • Nov 19
OSPN: Growing Demand for Multi-Factor Authentication Will Drive Shares Higher
Analysts have slightly reduced their price target for OneSpan from $16.75 to $16.50. They cite continued optimism around the company's blue-chip customer base and growing demand for multi-factor authentication, while also moderating expectations amid evolving market dynamics.Narrative Update • Nov 03
OSPN: Broader AI Integration Will Drive Demand in Secure Banking Transactions
The analyst price target for OneSpan has been lowered from $19.50 to $16.75 per share, as analysts cite slower revenue growth despite improved profit margins. There is continued optimism following recent positive coverage highlighting the company’s multi-factor authentication offerings and expanding AI opportunities.Analysis Article • Nov 02
Earnings Working Against OneSpan Inc.'s (NASDAQ:OSPN) Share Price Following 28% Dive
OneSpan Inc. ( NASDAQ:OSPN ) shareholders won't be pleased to see that the share price has had a very rough month...Analysis Article • Aug 13
We Think That There Are Some Issues For OneSpan (NASDAQ:OSPN) Beyond Its Promising Earnings
The market shrugged off OneSpan Inc.'s ( NASDAQ:OSPN ) solid earnings report. We think that investors might be worried...Narrative Update • Aug 07
Digital Banking Trends Will Reshape Cybersecurity Amid Integration Risks
With analyst reasoning not provided, both revenue growth forecasts (4.5% per annum) and the discount rate (8.44%) for OneSpan remained unchanged, resulting in no adjustment to the consensus price target, which holds steady at $18.33. What's in the News OneSpan updated full-year 2025 financial guidance, expecting revenue between $245 million and $251 million, and annual recurring revenue of $180 million to $186 million.Analysis Article • Jul 15
There Is A Reason OneSpan Inc.'s (NASDAQ:OSPN) Price Is Undemanding
With a price-to-sales (or "P/S") ratio of 2.5x OneSpan Inc. ( NASDAQ:OSPN ) may be sending very bullish signals at the...Analysis Article • Jun 27
Calculating The Intrinsic Value Of OneSpan Inc. (NASDAQ:OSPN)
Key Insights Using the 2 Stage Free Cash Flow to Equity, OneSpan fair value estimate is US$20.53 OneSpan's US$16.76...Analysis Article • Apr 28
Is OneSpan Inc. (NASDAQ:OSPN) Potentially Undervalued?
OneSpan Inc. ( NASDAQ:OSPN ), might not be a large cap stock, but it saw a decent share price growth of 14% on the...Analysis Article • Apr 05
Shareholders Would Enjoy A Repeat Of OneSpan's (NASDAQ:OSPN) Recent Growth In Returns
What are the early trends we should look for to identify a stock that could multiply in value over the long term...Analysis Article • Mar 02
OneSpan Inc. Just Recorded A 60% EPS Beat: Here's What Analysts Are Forecasting Next
Shareholders might have noticed that OneSpan Inc. ( NASDAQ:OSPN ) filed its yearly result this time last week. The...Analysis Article • Nov 26
OneSpan Inc. (NASDAQ:OSPN) Shares Fly 27% But Investors Aren't Buying For Growth
OneSpan Inc. ( NASDAQ:OSPN ) shares have had a really impressive month, gaining 27% after a shaky period beforehand...Seeking Alpha • Oct 31
OneSpan Continues To Perform, But The Price Has Become Speculative
Summary OneSpan's revenues decreased YoY, primarily driven by hardware and software sunsetting, with growth ex-hardware of 5.5%. More importantly, OneSpan continues to expand its margins, now reaching 30% for adjusted EBITDA. The Digital Agreements segment reached operational profitability for the first time. The company expects software revenue acceleration, for example, via the signup of channel partners to sell the product to small and mid-sized clients. Margin expansion will probably be more muted. Even assuming a double of margins to 50% in Digital Agreements and 20% growth YoY for the segment, the name still has to deliver on growth. The valuation is too demanding. Read the full article on Seeking Alpha
New Narrative • Sep 24
Shifting To High-Margin Software And Services Fuels Growth And Shareholder Value
Shift towards higher-margin software revenue and strong ARR growth indicates a robust pipeline for future revenue and earnings enhancement.Seeking Alpha • Aug 28
OneSpan: Good H1'24, H2'24 Will Be Likely Muted, And The Stock Is Still Fairly Valued
Summary OneSpan's 2Q24 results show impressive cost reductions, including a 50% workforce cut, without compromising service quality or sales growth. Despite a 25% stock price increase since May 2024, I maintain a Hold rating due to the stock's fair valuation and modest earnings yield. Revenue growth in 1H24 was strong but driven by early renewals; 2H24 is expected to see revenue comparables turn negative. The Digital Agreements segment shows potential for profitability and growth, but new customer acquisition remains a challenge, impacting long-term growth prospects. Read the full article on Seeking AlphaAnalysis Article • Jul 27
Investors Don't See Light At End Of OneSpan Inc.'s (NASDAQ:OSPN) Tunnel
You may think that with a price-to-sales (or "P/S") ratio of 2.3x OneSpan Inc. ( NASDAQ:OSPN ) is definitely a stock...Seeking Alpha • May 10
OneSpan: Fairly Valued After Its Impressive Cost Cuts, But Is Not An Opportunity Yet
Summary OneSpan's 1Q24 results showed a significant reduction in operating expenses and a jump in operating income, leading to a 20% increase in stock price. The company has made cuts in corporate and sales, resulting in layoffs and cost savings. Despite the expense reduction, OneSpan is struggling to achieve growth, particularly in its Digital Agreements segment. Read the full article on Seeking AlphaRevenue & Expenses Breakdown
Revenue & Expenses Breakdown
How OneSpan makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 246 | 70 | 95 | 35 |
| 31 Dec 25 | 243 | 73 | 93 | 34 |
| 30 Sep 25 | 241 | 58 | 92 | 34 |
| 30 Jun 25 | 241 | 60 | 90 | 33 |
| 31 Mar 25 | 242 | 58 | 89 | 32 |
| 31 Dec 24 | 243 | 57 | 91 | 32 |
| 30 Sep 24 | 245 | 29 | 95 | 33 |
| 30 Jun 24 | 248 | 16 | 101 | 35 |
| 31 Mar 24 | 242 | -8 | 115 | 37 |
| 31 Dec 23 | 235 | -30 | 129 | 38 |
| 30 Sep 23 | 229 | -33 | 132 | 38 |
| 30 Jun 23 | 227 | -36 | 131 | 37 |
| 31 Mar 23 | 224 | -28 | 123 | 39 |
| 31 Dec 22 | 219 | -14 | 117 | 42 |
| 30 Sep 22 | 222 | -25 | 115 | 45 |
| 30 Jun 22 | 217 | -19 | 114 | 47 |
| 31 Mar 22 | 216 | -16 | 116 | 47 |
| 31 Dec 21 | 214 | -31 | 116 | 47 |
| 30 Sep 21 | 208 | -19 | 110 | 46 |
| 30 Jun 21 | 207 | -19 | 110 | 45 |
| 31 Mar 21 | 210 | -15 | 106 | 43 |
| 31 Dec 20 | 216 | -5 | 103 | 41 |
| 30 Sep 20 | 233 | 1 | 109 | 41 |
| 30 Jun 20 | 262 | 14 | 108 | 41 |
| 31 Mar 20 | 262 | 14 | 108 | 42 |
| 31 Dec 19 | 253 | 8 | 102 | 42 |
| 30 Sep 19 | 248 | 7 | 99 | 42 |
| 30 Jun 19 | 221 | -6 | 102 | 41 |
| 31 Mar 19 | 214 | -4 | 103 | 37 |
| 31 Dec 18 | 211 | 3 | 104 | 32 |
| 30 Sep 18 | 202 | -26 | 106 | 28 |
| 30 Jun 18 | 201 | -22 | 103 | 25 |
| 31 Mar 18 | 197 | -21 | 100 | 23 |
| 31 Dec 17 | 193 | -22 | 96 | 23 |
| 30 Sep 17 | 186 | 8 | 91 | 23 |
| 30 Jun 17 | 179 | 6 | 89 | 24 |
| 31 Mar 17 | 188 | 9 | 89 | 24 |
| 31 Dec 16 | 192 | 11 | 89 | 23 |
| 30 Sep 16 | 196 | 9 | 85 | 22 |
| 30 Jun 16 | 212 | 20 | 81 | 20 |
| 31 Mar 16 | 223 | 31 | 74 | 18 |
| 31 Dec 15 | 241 | 42 | 68 | 17 |
| 30 Sep 15 | 253 | 50 | 67 | 18 |
| 30 Jun 15 | 246 | 50 | 66 | 18 |
Quality Earnings: OSPN has high quality earnings.
Growing Profit Margin: OSPN's current net profit margins (28.5%) are higher than last year (24%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: OSPN has become profitable over the past 5 years, growing earnings by 62.6% per year.
Accelerating Growth: OSPN's earnings growth over the past year (20.4%) is below its 5-year average (62.6% per year).
Earnings vs Industry: OSPN earnings growth over the past year (20.4%) exceeded the Software industry 11.8%.
Return on Equity
High ROE: OSPN's Return on Equity (25.7%) is considered high.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/01 17:56 |
| End of Day Share Price | 2026/05/29 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
OneSpan Inc. is covered by 12 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | Argus Research Company |
| Joel Fishbein | Brean Capital Historical (Janney Montgomery) |
| Erik Suppiger | B. Riley Securities, Inc. |