OneSpan Inc. logo OSPN - OneSpan Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 10
HOLD 5
SELL 0
STRONG
SELL
0
| PRICE TARGET: $15.50 DETAILS
HIGH: $18.00
LOW: $13.00
MEDIAN: $15.50
CONSENSUS: $15.50
UPSIDE: 18.14%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997
Revenue
Revenue 243.2 243.2 235.1 219.0 214.5 215.7 253.5 212.3 193.3 192.3 241.4 201.5 155.0 154.0 168.1 108.0 101.7 133.0 120.0 76.1 54.6 29.9 22.9 18.9 26.7 28.1 19.4 15.0 12.3
Cost of Revenue 71.3 68.6 77.4 70.4 71.5 63.4 85.6 64.8 58.8 61.6 95.4 73.8 55.2 54.5 60.0 32.0 30.5 41.0 40.9 24.4 20.1 9.2 9.0 7.2 10.6 8.7 6.2 6.9 6.3
Gross Profit 171.9 174.6 157.7 148.6 142.9 152.3 167.8 147.5 134.5 130.7 146.1 127.8 99.9 99.6 108.1 76.0 71.2 92.0 79.1 51.7 34.4 20.7 13.9 11.7 16.1 19.4 13.2 8.1 6.0
Operating Expenses
R&D Expenses 34.2 32.4 38.4 41.7 47.4 41.2 42.5 32.2 23.1 23.2 18.5 19.5 21.3 18.8 18.6 13.6 11.6 11.6 9.4 5.5 3.6 2.8 2.3 3.1 5.0 4.6 3.6 1.8 1.8
SG&A Expenses 92.6 90.6 128.5 116.5 115.8 107.2 101.7 105.4 96.4 89.0 72.2 65.6 61.5 57.8 62.7 49.6 45.7 51.6 37.8 26.6 19.3 12.4 10.5 12.5 20.0 16.0 9.4 7.5 8.1
Other Expenses (5.0) 6.8 19.7 17.4 5.9 9.1 9.5 2.3 0.8 1.0 0.1 (0.3) 0.2 0.4 2.0 0.4 0.5 0.6 1.0 27.2 20.1 0 0 0 0 17.4 10.5 0 0
Operating Expenses 121.8 129.8 186.6 175.7 169.1 157.5 153.6 147.4 128.3 121.1 95.6 89.7 86.2 78.5 83.3 63.6 57.7 63.8 48.2 32.8 23.7 15.2 12.7 15.6 25.0 22.0 14.1 9.3 10.0
Operating Income
Operating Income 50.1 44.8 (28.9) (27.1) (26.1) (5.3) 14.2 0.0 6.2 9.6 50.5 38.1 13.7 21.0 24.8 12.4 13.4 28.1 30.9 18.9 11.0 5.6 1.1 (4.1) (13.1) (2.6) (0.9) (1.2) (3.9)
Interest Expense 0 0 0 0 0.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.1 0.3 0 0 0 1.5 0
Interest Income 0.7 1.8 2.1 0.6 0 0.4 0.7 1.3 1.4 0.8 0.4 0.1 0.2 0.3 0.5 0.3 0.6 1.0 0.5 0.1 0.1 0.1 0 0 0.8 0.0 0 0 0
Profitability
EBITDA 64.4 57.6 (5.1) (6.7) (17.2) 7.6 25.7 11.2 16.8 20.4 56.8 44.2 18.8 24.7 24.8 12.4 12.6 31.5 33.9 20.2 12.6 5.9 2.2 (3.4) (1.4) (1.2) 0.2 (0.3) (2.7)
EBIT 49.4 49.2 (11.6) (13.8) (26.1) (5.3) 14.2 (0.9) 6.2 9.6 50.5 38.1 13.7 21.0 24.8 12.4 12.6 28.1 30.9 18.9 10.8 5.5 1.1 (4.6) (6.8) (2.6) (0.9) (1.3) (3.9)
Income Before Tax 49.4 46.5 (27.3) (11.7) (26.1) (3.4) 14.4 3.6 8.4 11.4 50.9 37.9 14.1 21.7 25.8 13.4 16.1 28.9 31.0 18.6 11.5 5.1 1.2 (4.4) (12.0) (3.8) (1.9) (3.0) (5.3)
Income Tax Expense (23.5) (10.6) 2.5 2.7 4.4 2.0 6.5 (0.3) 30.8 0.9 8.7 5.3 3.1 5.5 1.6 2.6 3.5 4.6 10.0 6.1 3.8 1.9 0.4 0.1 (0.0) 0.4 0.3 0.7 0.6
Net Income 72.9 57.1 (29.8) (14.4) (30.6) (5.5) 7.9 3.8 (22.4) 10.5 42.2 33.5 11.1 15.6 18.1 10.8 12.6 24.3 21.0 12.6 7.7 3.3 2.8 (4.5) (12.0) (4.2) (2.2) (3.6) (5.9)
Per Share Data
EPS (Basic) 1.91 1.49 -0.74 -0.36 -0.77 -0.14 0.20 0.10 -0.56 0.26 1.07 0.85 0.28 0.41 0.48 0.29 0.34 0.65 0.57 0.35 0.22 0.09 -0.06 -0.16 -0.43 -0.15 -0.09 -0.16 -0.31
EPS (Diluted) 1.90 1.46 -0.74 -0.36 -0.77 -0.14 0.20 0.10 -0.56 0.26 1.06 0.85 0.28 0.40 0.47 0.28 0.33 0.64 0.55 0.33 0.21 0.09 -0.06 -0.16 -0.36 -0.15 -0.09 -0.16 -0.31
Shares Outstanding 37.9 38.4 40.2 40.1 39.6 40.0 40.0 39.9 39.8 39.7 39.6 39.3 38.9 38.1 37.6 37.4 37.3 37.2 36.9 36.2 35.4 32.2 29.3 28.3 28.1 27.9 25.6 22.4 19.1
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997
Current Assets
Cash & Cash Equivalents 70.5 83.2 42.5 96.5 63.4 88.4 84.3 76.4 78.7 44.4 67.6 57.7 8.1 4.8 2.6 6.3 13.8 2.6 1.5 1.9
Short-Term Investments 0 0 0 2.3 35.1 26.9 25.5 22.8 79.7 99.8 0 0 0 0 0 0 0 0 0 0
Net Receivables 74.3 64.9 69.5 69.7 61.3 64.7 67.6 67.6 48.1 36.9 31.5 32.4 6.3 2.5 2.9 3.8 6.5 2.9 3.6 2.5
Inventory 10.5 10.8 15.6 12.1 10.3 13.1 19.8 14.4 12.0 17.4 9.0 13.4 1.3 1.1 1.6 2.0 1.1 0.8 1.3 1.0
Other Current Assets 9.9 9.7 12.2 10.8 9.4 6.3 6.3 5.7 5.5 5.4 1.2 0.5 0.5 0.8 0.3 0.7 1.1 1.1 0.4 0.3
Total Current Assets 172.2 175.1 146.3 197.5 187.1 207.2 209.8 194.3 227.9 207.5 112.1 105.9 17.1 9.7 7.6 13.3 22.5 7.4 7.2 5.7
Non-Current Assets
Property, Plant & Equipment 29.6 28.7 24.9 20.7 20.0 23.2 22.0 6.2 4.8 3.3 5.2 4.2 0.8 0.9 1.3 1.7 3.8 1.2 0.4 0.3
Goodwill 103.8 92.4 93.7 90.5 96.2 97.6 94.6 91.8 56.3 54.4 13.8 13.6 0 0 0 0 0 0 0.6 0.7
Intangible Assets 9.7 7.5 10.8 12.5 21.3 27.2 36.2 45.5 37.9 46.5 1.8 2.0 1.4 1.6 2.2 2.4 1.4 2 0 0
Long-Term Investments 11.8 0 0 0.8 0.2 1.9 4.2 3.3 (5.5) 4.1 (0.6) (0.3) 0 0 0 0 0 0 0 0
Other Non-Current Assets 15.8 14.6 11.7 11.1 13.8 11.2 7.8 8.4 10.7 (0.3) 0.5 2.3 0.9 1.2 0.1 0.0 1.6 1.7 0.9 1.6
Total Non-Current Assets 225.5 163.7 142.8 137.5 155.2 168.0 172.7 160.9 109.7 119.2 21.3 22.0 3.1 3.7 3.5 4.2 6.8 4.9 1.9 2.6
Total Assets 397.7 338.7 289.2 335.1 342.3 375.2 382.5 355.2 337.6 326.6 133.5 128.0 20.2 13.4 11.1 17.5 29.3 12.3 9.1 8.4
Current Liabilities
Account Payables 13.7 13.3 17.5 17.4 8.2 5.7 10.8 7.2 8.1 8.9 4.5 10.3 3.1 1.7 1.8 3.3 2.8 2 1.2 1.1
Short-Term Debt 0 2.4 0 2.3 0 0 2.6 0 0 0 0 0 0 0 3.6 0.2 0.4 0.6 6.5 3.2
Deferred Revenue 71.6 67.5 69.3 64.6 54.6 43.4 30.3 34.4 33.3 36.4 7.2 5.9 0.6 0.4 0.7 0.9 0 0 2.1 0
Other Current Liabilities 0.0 (2.2) 10.7 5.4 7.7 2.9 6.2 9.3 7.7 5.5 0 1.4 0.4 0 0.1 2.3 5.0 2.3 0.4 (0.5)
Total Current Liabilities 114.6 110.3 114.8 110.8 89.1 75.3 73.8 73.5 66.2 68.0 23.3 30.0 7.1 4.4 8.3 6.6 8.2 4.9 10.3 3.8
Non-Current Liabilities
Long-Term Debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 3.7 3.8 8.4 8.4 8.4
Deferred Tax Liabilities 1.0 3.7 1.1 1.2 1.3 1.9 4.6 2.7 7.8 0.9 0.3 0.5 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 1.6 1.9 3.2 5.0 12.8 16.5 15.3 14.7 25.8 6.1 0.5 1.4 0 0 0 0 0 0 0 3.0
Total Non-Current Liabilities 11.3 15.9 15.2 21.0 33.4 42.6 46.4 28.0 33.5 0.9 1.1 2.7 0.2 0 0.0 3.7 3.8 8.4 8.4 11.4
Total Liabilities 125.9 126.2 130.1 131.8 122.5 117.9 120.2 101.5 99.7 68.9 24.3 32.7 7.2 4.4 8.3 10.3 12.0 13.3 18.7 15.2
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 0.0 0.0
Retained Earnings 209.8 151.3 98.9 128.7 143.2 173.7 179.4 172.4 156.2 178.6 37.5 24.9 (40.7) (43.7) (42.6) (38.1) (26.0) (21.9) (19.6) (15.9)
Accumulated Other Comprehensive Income (6.1) (13.9) (11.1) (14.6) (11.2) (10.2) (13.3) (13.0) (8.6) (8.3) 4.2 3.7 0.3 (0.3) (0.5) (0.4) (0.3) 0.1 0.1 (0.2)
Total Stockholders' Equity 271.8 212.5 159.1 203.3 219.8 257.3 262.3 253.7 237.9 257.8 109.1 95.3 13.0 8.9 2.8 7.1 17.3 (1) (9.6) (6.9)
Total Liabilities & Equity 397.7 338.7 289.2 335.1 342.3 375.2 382.5 355.2 337.6 326.6 133.5 128.0 20.2 13.4 11.1 17.5 29.3 12.3 9.1 8.4
Debt Metrics
Total Debt 6.1 9.3 6.8 10.7 10.2 12.4 13.9 0 0 0 0 0 0 0 3.6 3.8 4.1 9 15.0 11.6
Net Debt (64.4) (73.9) (35.7) (85.8) (53.2) (76.0) (70.3) (76.4) (78.7) (44.4) (67.6) (57.7) (8.1) (4.8) 1.0 (2.5) (9.7) 6.4 13.4 9.7
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997
Operating Activities
Net Income 72.9 57.1 (29.8) (14.4) (30.6) (5.5) 7.9 3.8 (22.4) 10.6 7.7 3.3 0.8 (4.5) (12.0) (4.2) (2.2) (3.6) (5.9)
Depreciation & Amortization 10.1 8.4 6.5 7.1 8.9 12.0 11.5 12.1 10.6 10.8 1.1 0.7 1.1 1.4 5.6 1.4 1.1 1.0 1.2
Stock-Based Compensation 11.2 9.0 14.3 8.6 4.4 4.7 3.4 4.0 3.5 2.8 0 0 0 0 0 0 0 0 0
Change in Working Capital (5.9) (4.5) (5.0) 2.1 11.7 5.0 (3.0) (13.2) 12.7 9.3 (1.3) (1.2) 0.3 0.2 0.1 (0.1) (0.5) (1.2) 2.0
Other Non-Cash Items 1.1 1.9 3.3 (10.8) 0.0 0.1 0.1 (0.0) 0.2 (0.0) 0.1 0.0 0.3 (0.1) 0.0 0.7 0 0.0 0.4
Operating Cash Flow 59.5 55.7 (10.7) (5.8) (2.7) 14.9 18.2 (0.6) 17.6 28.4 7.5 2.9 2.4 (2.9) (6.3) (2.2) (1.6) (3.8) (2.0)
Investing Activities
Capital Expenditure (9.0) (9.2) (12.5) (5.0) (2.2) (3.1) (7.5) (3.7) (3.2) (2.2) (0.5) (0.3) (0.1) (0.0) (0.9) (3.5) (1.5) (0.2) (0.1)
Acquisitions (14.7) 0 (1.8) 18.9 0.0 0 0 (53.1) (0.1) (0.1) (4.0) 0 (0.0) (0.0) 0 0 0 0 0
Purchases of Investments 0 0 0 (15.8) (59.9) (34.1) (33.8) (22.8) (178.7) (184.7) 0.0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 0 2.3 48.5 51.1 32.6 31.4 80 195 134.8 0.3 0 0 0 0 0 0 0 0
Other Investing Activities (11.9) (0.1) (0.1) (0.0) (0.0) (0.1) 0 (0.2) (0.2) (4.2) (0.3) 0.2 0.3 (0.1) 0.1 0.0 0 0 0
Investing Cash Flow (35.6) (9.3) (12.0) 46.6 (11.0) (4.7) (9.9) 0.4 12.8 (56.5) (4.5) (0.1) 0.1 (0.1) (0.8) (3.5) (1.5) (0.2) (0.1)
Financing Activities
Net Debt Issuance 0 0 0 0 0 0 0 0 0 0 3.2 0 (3.6) (0.2) (0.3) 0 (6.1) 3.3 2.6
Stock Repurchased (13.1) (0.0) (29.2) (5.7) (7.5) (5.0) 0 (1.0) (0.6) (1.1) 0 0 (4) 0 0 0 (0.8) 0 (0.3)
Dividends Paid (18.5) (4.8) 0 0 0 0 0 0 0 0 (0.0) (0.2) 0 0 0 0 0 0 0
Other Financing Activities (6.8) (0.5) (2.9) (1.6) (2.9) (2.0) (0.6) (1.0) (0.6) (1.1) 0 0 7.3 0 0 0 0.1 0 (0.1)
Financing Cash Flow (38.4) (5.2) (32.1) (7.3) (10.4) (7.1) (0.6) (0.7) (0.6) (1.1) 6.6 0.1 (0.3) (0.2) (0.3) 17.3 4 3.5 2.3
Cash Position
Net Change in Cash (12.8) 39.8 (53.8) 33.1 (25.0) 4.1 7.6 (2.3) 29.3 (29.2) 8.8 3.3 2.2 (3.7) (7.5) 11.3 0.9 (0.4) 0.1
Cash at Beginning 83.3 43.5 97.4 64.2 89.2 85.1 77.6 78.7 49.3 78.5 8.1 4.8 2.6 6.3 13.8 2.6 1.7 1.9 1.8
Cash at End 70.5 83.3 43.5 97.4 64.2 89.2 85.1 76.4 78.7 49.3 17.0 8.1 4.8 2.6 6.3 13.8 2.6 1.5 1.9
Free Cash Flow 50.5 46.4 (23.3) (10.8) (4.9) 11.8 10.8 (4.3) 14.4 26.2 7.0 2.6 2.3 (2.9) (7.3) (5.6) (3.1) (4.1) (2.2)
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997
Income Statement
Revenue 243.2 243.2 235.1 219.0 214.5 215.7 253.5 212.3 193.3 192.3 241.4 201.5 155.0 154.0 168.1 108.0 101.7 133.0 120.0 76.1 54.6 29.9 22.9 18.9 26.7 28.1 19.4 15.0 12.3
Gross Profit 171.9 174.6 157.7 148.6 142.9 152.3 167.8 147.5 134.5 130.7 146.1 127.8 99.9 99.6 108.1 76.0 71.2 92.0 79.1 51.7 34.4 20.7 13.9 11.7 16.1 19.4 13.2 8.1 6.0
Operating Income 50.1 44.8 (28.9) (27.1) (26.1) (5.3) 14.2 0.0 6.2 9.6 50.5 38.1 13.7 21.0 24.8 12.4 13.4 28.1 30.9 18.9 11.0 5.6 1.1 (4.1) (13.1) (2.6) (0.9) (1.2) (3.9)
Net Income 72.9 57.1 (29.8) (14.4) (30.6) (5.5) 7.9 3.8 (22.4) 10.5 42.2 33.5 11.1 15.6 18.1 10.8 12.6 24.3 21.0 12.6 7.7 3.3 2.8 (4.5) (12.0) (4.2) (2.2) (3.6) (5.9)
EPS (Diluted) 1.90 1.46 -0.74 -0.36 -0.77 -0.14 0.20 0.10 -0.56 0.26 1.06 0.85 0.28 0.40 0.47 0.28 0.33 0.64 0.55 0.33 0.21 0.09 -0.06 -0.16 -0.36 -0.15 -0.09 -0.16 -0.31
Balance Sheet
Cash & Equivalents 70.5 83.2 42.5 96.5 63.4 88.4 84.3 76.4 78.7 44.4 67.6 57.7 8.1 4.8 2.6 6.3 13.8 2.6 1.5 1.9
Total Assets 397.7 338.7 289.2 335.1 342.3 375.2 382.5 355.2 337.6 326.6 133.5 128.0 20.2 13.4 11.1 17.5 29.3 12.3 9.1 8.4
Total Debt 6.1 9.3 6.8 10.7 10.2 12.4 13.9 0 0 0 0 0 0 0 3.6 3.8 4.1 9 15.0 11.6
Stockholders' Equity 271.8 212.5 159.1 203.3 219.8 257.3 262.3 253.7 237.9 257.8 109.1 95.3 13.0 8.9 2.8 7.1 17.3 (1) (9.6) (6.9)
Cash Flow
Operating Cash Flow 59.5 55.7 (10.7) (5.8) (2.7) 14.9 18.2 (0.6) 17.6 28.4 7.5 2.9 2.4 (2.9) (6.3) (2.2) (1.6) (3.8) (2.0)
Capital Expenditure (9.0) (9.2) (12.5) (5.0) (2.2) (3.1) (7.5) (3.7) (3.2) (2.2) (0.5) (0.3) (0.1) (0.0) (0.9) (3.5) (1.5) (0.2) (0.1)
Free Cash Flow 50.5 46.4 (23.3) (10.8) (4.9) 11.8 10.8 (4.3) 14.4 26.2 7.0 2.6 2.3 (2.9) (7.3) (5.6) (3.1) (4.1) (2.2)