OneSpan (OSPN)
Market Price (3/30/2026): $10.155 | Market Cap: $389.9 MilSector: Industrials | Industry: Research & Consulting Services
OneSpan (OSPN)
Market Price (3/30/2026): $10.155Market Cap: $389.9 MilSector: IndustrialsIndustry: Research & Consulting Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 19%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 15%, FCF Yield is 13% | Weak multi-year price returns2Y Excs Rtn is -27%, 3Y Excs Rtn is -102% | Key risksOSPN key risks include [1] severe reputational and business damage from a cybersecurity breach, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17% | ||
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21% | ||
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21% | ||
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -36% | ||
| Low stock price volatilityVol 12M is 47% | ||
| Megatrend and thematic driversMegatrends include Cybersecurity, and AI in Financial Services. Themes include Identity Management, Software Security, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 19%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 15%, FCF Yield is 13% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -36% |
| Low stock price volatilityVol 12M is 47% |
| Megatrend and thematic driversMegatrends include Cybersecurity, and AI in Financial Services. Themes include Identity Management, Software Security, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -27%, 3Y Excs Rtn is -102% |
| Key risksOSPN key risks include [1] severe reputational and business damage from a cybersecurity breach, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Modest 2026 Guidance and Analyst Price Target Downgrades.
Despite exceeding Q4 2025 earnings per share (EPS) estimates by 33.33% with $0.36 and revenue estimates by 5.08% with $62.9 million, OneSpan provided a modest outlook for fiscal year 2026, projecting total revenue growth of only 0-2% ($244-$249 million) and a projected decrease in full-year EPS to $1.26, a 15.44% decline from the previous year. This guidance, signaling slower growth, led to analyst downgrades, including DA Davidson reducing its price target from $13 to $12 on February 27, 2026, and Rosenblatt lowering its target from $17 to $15 on October 31, 2025. The average brokerage recommendation for OneSpan also declined from "Buy" to "Hold" over the past month.
2. Flat Full-Year 2025 Revenue.
OneSpan's total revenue for the full year 2025 remained flat at $243.2 million compared to the full year 2024. This stagnation in overall revenue, despite a 12% growth in full-year subscription revenue and an 11% increase in Annual Recurring Revenue (ARR) to $186.9 million, may have contributed to investor caution regarding the company's growth trajectory in a competitive cybersecurity market.
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Stock Movement Drivers
Fundamental Drivers
The -15.8% change in OSPN stock from 11/30/2025 to 3/29/2026 was primarily driven by a -32.4% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.05 | 10.15 | -15.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 241 | 243 | 0.7% |
| Net Income Margin (%) | 24.1% | 30.0% | 24.5% |
| P/E Multiple | 7.9 | 5.3 | -32.4% |
| Shares Outstanding (Mil) | 38 | 38 | -0.7% |
| Cumulative Contribution | -15.8% |
Market Drivers
11/30/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| OSPN | -15.8% | |
| Market (SPY) | -5.3% | 41.8% |
| Sector (XLI) | 3.9% | 14.6% |
Fundamental Drivers
The -31.4% change in OSPN stock from 8/31/2025 to 3/29/2026 was primarily driven by a -43.4% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.80 | 10.15 | -31.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 241 | 243 | 1.1% |
| Net Income Margin (%) | 24.9% | 30.0% | 20.4% |
| P/E Multiple | 9.4 | 5.3 | -43.4% |
| Shares Outstanding (Mil) | 38 | 38 | -0.5% |
| Cumulative Contribution | -31.4% |
Market Drivers
8/31/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| OSPN | -31.4% | |
| Market (SPY) | 0.6% | 28.3% |
| Sector (XLI) | 5.5% | 15.7% |
Fundamental Drivers
The -34.3% change in OSPN stock from 2/28/2025 to 3/29/2026 was primarily driven by a -48.8% change in the company's P/E Multiple.| (LTM values as of) | 2282025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.44 | 10.15 | -34.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 243 | 243 | 0.0% |
| Net Income Margin (%) | 23.5% | 30.0% | 27.7% |
| P/E Multiple | 10.4 | 5.3 | -48.8% |
| Shares Outstanding (Mil) | 39 | 38 | 0.5% |
| Cumulative Contribution | -34.3% |
Market Drivers
2/28/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| OSPN | -34.3% | |
| Market (SPY) | 9.8% | 43.2% |
| Sector (XLI) | 18.4% | 37.6% |
Fundamental Drivers
The -21.5% change in OSPN stock from 2/28/2023 to 3/29/2026 was primarily driven by a -34.1% change in the company's P/S Multiple.| (LTM values as of) | 2282023 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.94 | 10.15 | -21.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 219 | 243 | 11.0% |
| P/S Multiple | 2.4 | 1.6 | -34.1% |
| Shares Outstanding (Mil) | 41 | 38 | 7.2% |
| Cumulative Contribution | -21.5% |
Market Drivers
2/28/2023 to 3/29/2026| Return | Correlation | |
|---|---|---|
| OSPN | -21.5% | |
| Market (SPY) | 69.4% | 37.0% |
| Sector (XLI) | 65.1% | 34.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| OSPN Return | -18% | -34% | -4% | 73% | -28% | -16% | -46% |
| Peers Return | 8% | -42% | 55% | 11% | -22% | -29% | -40% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -5% | 72% |
Monthly Win Rates [3] | |||||||
| OSPN Win Rate | 42% | 33% | 42% | 67% | 58% | 0% | |
| Peers Win Rate | 52% | 35% | 60% | 62% | 53% | 13% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| OSPN Max Drawdown | -23% | -51% | -31% | -12% | -37% | -18% | |
| Peers Max Drawdown | -14% | -49% | -16% | -29% | -37% | -32% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -5% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GEN, PATH, S, CVLT, CHOW.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/27/2026 (YTD)
How Low Can It Go
| Event | OSPN | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -73.4% | -25.4% |
| % Gain to Breakeven | 275.7% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -46.3% | -33.9% |
| % Gain to Breakeven | 86.2% | 51.3% |
| Time to Breakeven | 77 days | 148 days |
| 2018 Correction | ||
| % Loss | -47.3% | -19.8% |
| % Gain to Breakeven | 89.6% | 24.7% |
| Time to Breakeven | 540 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -90.9% | -56.8% |
| % Gain to Breakeven | 1001.3% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1,480 days |
Compare to GEN, PATH, S, CVLT, CHOW
In The Past
OneSpan's stock fell -73.4% during the 2022 Inflation Shock from a high on 4/26/2021. A -73.4% loss requires a 275.7% gain to breakeven.
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About OneSpan (OSPN)
AI Analysis | Feedback
DocuSign meets Okta for financial institutions.
A cybersecurity and identity verification provider for banks, similar to a blend of Okta and Jumio.AI Analysis | Feedback
- OneSpan Sign: Provides e-signature solutions for a wide range of transaction volumes.
- OneSpan Cloud Authentication: A cloud-based multifactor authentication solution supporting various options including biometrics and push notifications.
- OneSpan Identity Verification: Offers identity verification services for banks and financial institutions.
- Mobile Security Suite: A software development kit (SDK) for mobile application security.
- Mobile Authenticator Studio: A standalone mobile application functioning as an authenticator.
- Authentication Servers: Enables customers to administer high levels of access control.
- Trusted Identity Platform: A cloud platform designed to simplify and secure user journeys.
- Intelligent Adaptive Authentication: A solution that dynamically adjusts authentication based on risk.
- Risk Analytics: A comprehensive anti-fraud solution.
AI Analysis | Feedback
OneSpan (OSPN) primarily sells its solutions to other companies (B2B). Based on the provided background, the company's major customers are:
- Banks and financial institutions
- Other enterprises requiring digital solutions for identity, security, and business productivity, including e-signature, cloud authentication, mobile security, and anti-fraud solutions.
The provided background description does not list the specific names of these customer companies or their public symbols.
AI Analysis | Feedback
- Amazon.com, Inc. (AMZN)
- Microsoft Corporation (MSFT)
AI Analysis | Feedback
Victor Limongelli, Chief Executive Officer
Victor Limongelli is OneSpan's Chief Executive Officer. Prior to joining OneSpan, he served as CEO of four software companies: Guidance Software, Inc., which he helped take public and grow from $9 million to $130 million in revenue; AccessData Group, a private security software company; and two private SaaS companies, MobileCause, Inc. and BQE Software, Inc. All four companies achieved impressive performance milestones under his leadership. Before his CEO roles, Victor held various operational positions at Guidance Software, including President, Vice President of Professional Services, and General Counsel. He also served as General Counsel of a venture-backed technology company. Earlier in his career, Limongelli practiced law for five years at Morgan Lewis, specializing in mergers and acquisitions and intellectual property licensing.
Jorge Martell, Chief Financial Officer
Jorge Martell is OneSpan's Chief Financial Officer, bringing over 20 years of experience in financial, strategic, and operational leadership, including M&A strategy and execution, to rapidly growing global private and public companies. Most recently, he was the Chief Financial Officer and Treasurer at Extreme Reach, Inc., where he played an integral role in optimizing the company's balance sheet and executing its global growth strategy through M&A. Before that, Jorge was at Sapient Corporation, a publicly-listed company (later acquired by Publicis Groupe), where he led its global revenue organization and managed the financial strategy and execution of its M&A activities. He also held leadership roles at ABM Industries, Inc., and KPMG LLP.
Sameer Hajarnis, Senior Vice President and General Manager, Digital Agreements
Sameer Hajarnis possesses more than two decades of experience in enterprise software and SaaS companies, leading cross-functional teams in areas such as business development, sales, strategic alliances, and customer success. Prior to his current role, he served as Vice President of Growth and Transformation within OneSpan. Before joining OneSpan, Sameer spent 15 years at OpenText in various leadership positions within the Analytics division, including as Vice President of Professional Services.
Lara Mataac, General Counsel and Chief Compliance Officer
Lara Mataac serves as OneSpan's General Counsel and Chief Compliance Officer, with nearly two decades of legal and compliance experience. Her expertise is focused on corporate governance, regulatory compliance, and mergers and acquisitions for both public and private cloud-based technology companies. Before her tenure at OneSpan, Lara was the General Counsel at Constant Contact, Inc., where she led the legal and compliance team through a period of transformation following the company's spinout from Endurance International Group (EIG). She previously spent eight years at EIG, with her most recent role being Deputy General Counsel.
Ashish Jain, Chief Technology Officer
Ashish Jain is OneSpan's Chief Technology Officer, bringing over two decades of experience in leading product management, engineering, and operations teams at global organizations. He is recognized as a leading expert in digital identity within the industry. Most recently, he held the position of Chief Product Officer at Arkose Labs, an enterprise fraud management and account security company, where he was responsible for developing the platform to address consumer fraud and identity challenges for many Fortune 1000 companies.
AI Analysis | Feedback
The key risks to OneSpan (OSPN) are primarily associated with its ongoing business model transition, the highly competitive nature of its markets, and its significant exposure to the financial services sector.
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Declining Hardware Business and Transition to Software Model: OneSpan is in a strategic transition from a legacy hardware-centric business (e.g., physical security tokens) to a software-first, subscription-based model. While this shift aims for higher margins and recurring revenue, the declining hardware segment represents a significant drag on overall revenue and profitability. Management anticipates a continued fall in hardware revenue, which has led to downward revisions in total revenue guidance.
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Intense Competition in Cybersecurity and Digital Identity Markets: OneSpan operates in a highly competitive environment within the digital identity, authentication, and anti-fraud solutions sectors. The company faces strong competition from both specialized providers and larger, well-funded identity management platforms, including major players like Microsoft Entra ID and Okta, as well as emerging AI-powered fraud prevention specialists. This intense rivalry necessitates continuous innovation, product differentiation, and substantial investment in research and development, which can be challenging given OneSpan's market capitalization.
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Sensitivity to Financial Services Sector and Regulatory Changes: A substantial portion of OneSpan's revenue is derived from financial institutions globally, making the company vulnerable to sector-specific economic fluctuations. This includes risks such as reduced IT spending by banks during economic downturns or potential displacement by competitors at key financial clients. Additionally, as a provider of cybersecurity and e-signature solutions, OneSpan is subject to a complex and evolving landscape of global regulations, particularly those impacting its financial services customers. New or modified regulations could indirectly affect its business operations and demand for its solutions.
AI Analysis | Feedback
The widespread adoption of Passkeys, based on FIDO Alliance standards and backed by major technology platforms such as Apple, Google, and Microsoft, poses a clear emerging threat. These platform-native, hardware-bound, and phishing-resistant authentication methods could significantly reduce the demand for OneSpan's proprietary multi-factor authentication solutions, including its OneSpan Cloud Authentication, Mobile Security Suite, and hardware authenticators, as financial institutions and other customers increasingly opt for standardized and integrated passwordless authentication.
AI Analysis | Feedback
OneSpan (OSPN) operates in several growing digital security markets globally. Here are the addressable market sizes for its main products and services:- E-Signature (OneSpan Sign): The global e-signature market generated USD 2,580.3 million in revenue in 2023 and is projected to reach USD 13,407.3 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 26.7% from 2024 to 2030. Another estimate places the global digital signature market at USD 5,240.0 million in 2024, expected to reach USD 38,164.4 million by 2030, with a CAGR of 40.5% from 2025 to 2030. The global electronic signature software market was valued at US$ 4.46 billion in 2024 and is projected to reach US$ 35.71 billion by 2031, at a CAGR of 34.6% during 2025–2031. North America held the largest market share of approximately 55% in 2023.
- Multi-Factor Authentication (OneSpan Cloud Authentication, Intelligent Adaptive Authentication): The global multi-factor authentication market was valued at approximately USD 20.22 billion in 2024. It is expected to grow to USD 78.09 billion by 2033, at a CAGR of 16.2% during the forecast period (2026–2033). Other projections indicate the market will reach around USD 83.72 billion by 2034, growing at a CAGR of 17.39% from 2025 to 2034. North America held the largest market share in 2024, accounting for over 32.7%.
- Identity Verification (OneSpan Identity Verification): The global identity verification market was valued at USD 13.8 billion in 2024 and is estimated to reach USD 46.4 billion by 2033, exhibiting a CAGR of 14.4% from 2025 to 2033. Another report states the market was valued at USD 11,496.0 million in 2023 and is projected to reach USD 33,928.3 million by 2030, with a CAGR of 16.7% from 2024 to 2030. North America was the largest revenue-generating market in 2023 and dominated the market with a 38.4% share in 2022.
- Mobile Security (Mobile Security Suite, Mobile Authenticator Studio): The global mobile security market was valued at approximately USD 8.62 billion in 2024 and is predicted to grow to around USD 56.82 billion by 2034, with a CAGR of roughly 20.9% between 2025 and 2034. Another estimate indicates the market was valued at USD 8,365.2 million in 2023 and is projected to reach USD 30,803.0 million by 2030, growing at a CAGR of 20.5% from 2024 to 2030. North America accounted for over 35.9% of the total revenue in the global mobile security market in 2023.
- Risk Analytics (Risk Analytics): The global fraud detection and prevention market, which includes risk analytics, was valued at USD 60.75 billion in 2025 and is anticipated to reach USD 150.15 billion by 2030, growing at a CAGR of 19.5%. Other projections show the market valued at USD 51.6 billion in 2025, expected to reach USD 270.4 billion by 2034, with a CAGR of 19.61% during 2026-2034. North America dominated the global market in 2024, with a revenue share of 37.3%. Specifically, the global healthcare fraud analytics market was valued at USD 4.26 billion in 2024 and is projected to reach USD 49.68 billion by 2033, growing at a CAGR of 31.38% from 2025 to 2033.
AI Analysis | Feedback
OneSpan (OSPN) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives and market trends:
- Continued Shift to Software and Subscription Revenue: OneSpan is strategically transitioning its business mix, with software and services revenue accounting for over 80% of total revenue in 2025, an increase from 76% in 2024, and expected to remain above 80% in 2026. This shift is characterized by robust growth in subscription revenue, which increased by 12% for the full year 2025. This ongoing pivot away from declining hardware revenue streams towards more predictable and higher-margin software subscriptions is a core growth driver.
- Growth in Digital Agreements: The Digital Agreements segment is a key area for expansion. Revenue from Digital Agreements grew by 11% in the fourth quarter of 2025 and 7% for the full year, primarily fueled by the expansion of renewal contracts, securing new contracts, and an increase in overages. The company utilizes a "land and expand" model within this division, which encompasses e-signatures, identity verification, and additional offerings like smart forms and remote notary services.
- Enhanced Cybersecurity Solutions, particularly Mobile App Protection: OneSpan's cybersecurity subscription revenue saw a 13% increase in 2025, driven by both cloud-based and on-premise authentication software, as well as mobile app shielding software. The company focuses on consumer authentication for banking and financial institutions and is actively strengthening its mobile application protection capabilities.
- Strategic Acquisitions to Bolster Product Offerings: The recent acquisition of Build38, a leader in next-generation mobile application protection, completed in March 2026, is a significant growth driver. This acquisition is designed to enhance OneSpan's App Shielding offering, allowing for deeper integration with customer mobile applications and enabling dynamic updates to detection methods, thereby expanding its cybersecurity portfolio and accelerating its innovation roadmap.
- Increased Investments in Sales, Marketing, and Research & Development: OneSpan plans to make incremental internal investments of approximately $5.5 million in sales, marketing, and R&D during 2026. These investments are aimed at fostering higher software revenue growth and are anticipated to contribute to both revenue and Annual Recurring Revenue (ARR) as the company progresses through 2026 and into 2027.
AI Analysis | Feedback
Share Repurchases
- OneSpan's Board of Directors authorized a share repurchase program of up to $50.0 million in June 2020. This program was designed to offset equity issuance for compensation purposes and allow for opportunistic repurchases. In May 2024, the company adopted a new program authorizing repurchases of up to $50 million, expiring May 9, 2026.
- In November 2023, OneSpan commenced a modified "Dutch auction" tender offer to repurchase approximately $20 million of its common stock.
- The company used $6.3 million for share repurchases in Q3 2025 and repurchased 423,867 shares in November 2025 and 134,766 shares in December 2025.
Share Issuance
- OneSpan maintains a share-based compensation plan (2019 Omnibus Incentive Plan) that grants restricted stock units (RSUs) and performance restricted stock units (PSUs) to employees and non-employee directors.
- In June 2025, stockholders approved an increase of 1,500,000 shares available for issuance under the 2019 Omnibus Incentive Plan.
- Approximately $4.4 million was attributed to restricted stock issuance in 2025.
Outbound Investments
- In June 2025, OneSpan acquired Nok Nok Labs Inc. to enhance its passwordless authentication capabilities. The costs for acquisitions in 2025, which included Nok Nok and an equity stake in ThreatFabric, amounted to approximately $14 million.
- OneSpan made a strategic investment in and partnered with ThreatFabric in October 2025, a provider of fraud detection and mobile threat intelligence solutions, with OneSpan joining ThreatFabric's board.
- OneSpan completed the acquisition of Build38, a leader in next-generation mobile application protection solutions, in February 2026. The definitive agreement was announced in January 2026.
Capital Expenditures
- OneSpan's capital expenditures were $5.00 million in 2022, $12 million in 2023, and $9.25 million in 2024.
- In the first three quarters of 2025, capital expenditures amounted to $6.0 million, and in Q4 2025, they were $2.9 million.
- The company expects to leverage its cash position to support working capital and capital expenditures over the upcoming year, focusing on product development and operational optimization.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| OneSpan Earnings Notes | 12/16/2025 | |
| Can OneSpan Stock Hold Up When Markets Turn? | 10/17/2025 | |
| Why OneSpan Stock Moved: OSPN Stock Has Lost 29% Since 2024 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S) | 08/08/2025 | |
| Day 9 of Loss Streak for OneSpan Stock with -17% Return (vs. -18% YTD) [7/21/2025] | 07/22/2025 | |
| OSPN Dip Buy Analysis | 07/10/2025 | |
| Time To Buy OneSpan Stock? | 05/16/2025 | |
| OneSpan (OSPN) Valuation Ratios Comparison | 05/15/2025 | |
| OneSpan (OSPN) Operating Cash Flow Comparison | 02/17/2025 | |
| OneSpan (OSPN) Net Income Comparison | 02/16/2025 | |
| OneSpan (OSPN) Operating Income Comparison | 02/15/2025 | |
| ARTICLES | ||
| OSPN Stock Down -17% after 9-Day Loss Streak | 07/22/2025 |
Trade Ideas
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Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 11.63 |
| Mkt Cap | 4.2 |
| Rev LTM | 1,147 |
| Op Inc LTM | 57 |
| FCF LTM | 181 |
| FCF 3Y Avg | 192 |
| CFO LTM | 189 |
| CFO 3Y Avg | 197 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 21.5% |
| Rev Chg 3Y Avg | 15.2% |
| Rev Chg Q | 19.5% |
| QoQ Delta Rev Chg LTM | 4.7% |
| Op Mgn LTM | 8.5% |
| Op Mgn 3Y Avg | 8.9% |
| QoQ Delta Op Mgn LTM | 0.7% |
| CFO/Rev LTM | 23.0% |
| CFO/Rev 3Y Avg | 20.7% |
| FCF/Rev LTM | 20.7% |
| FCF/Rev 3Y Avg | 20.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.2 |
| P/S | 2.9 |
| P/EBIT | 7.8 |
| P/E | 18.6 |
| P/CFO | 15.4 |
| Total Yield | 4.9% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.7% |
| D/E | 0.0 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -8.8% |
| 3M Rtn | -35.1% |
| 6M Rtn | -36.0% |
| 12M Rtn | -32.5% |
| 3Y Rtn | -26.7% |
| 1M Excs Rtn | -4.1% |
| 3M Excs Rtn | -27.4% |
| 6M Excs Rtn | -31.5% |
| 12M Excs Rtn | -47.5% |
| 3Y Excs Rtn | -84.8% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Security Solutions | 184 | 171 | 174 | ||
| Digital Agreements | 51 | 48 | 41 | ||
| Hardware products | 82 | 127 | |||
| Maintenance and support | 49 | 42 | |||
| Professional services and other | 6 | 6 | |||
| Software licenses | 51 | 56 | |||
| Subscription | 28 | 22 | |||
| Total | 235 | 219 | 214 | 216 | 253 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Security Solutions | 60 | 32 | 35 | ||
| Digital Agreements | -19 | 5 | -2 | ||
| Corporate and Other | -71 | -65 | -60 | ||
| Total | -29 | -27 | -26 |
Price Behavior
| Market Price | $10.15 | |
| Market Cap ($ Bil) | 0.4 | |
| First Trading Date | 05/21/1998 | |
| Distance from 52W High | -42.0% | |
| 50 Days | 200 Days | |
| DMA Price | $11.00 | $13.34 |
| DMA Trend | down | down |
| Distance from DMA | -7.8% | -23.9% |
| 3M | 1YR | |
| Volatility | 40.9% | 46.7% |
| Downside Capture | 1.09 | 0.85 |
| Upside Capture | 98.55 | 59.66 |
| Correlation (SPY) | 42.1% | 42.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.46 | 2.10 | 1.92 | 1.43 | 1.06 | 1.25 |
| Up Beta | 2.08 | 3.54 | 3.34 | 2.60 | 1.17 | 1.31 |
| Down Beta | 2.48 | 1.14 | 1.59 | 1.72 | 0.95 | 1.02 |
| Up Capture | 253% | 152% | 139% | 33% | 60% | 144% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 11 | 19 | 31 | 67 | 132 | 370 |
| Down Capture | 258% | 258% | 190% | 135% | 116% | 109% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 9 | 21 | 29 | 56 | 115 | 376 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OSPN | |
|---|---|---|---|---|
| OSPN | -35.5% | 46.5% | -0.78 | - |
| Sector ETF (XLI) | 20.5% | 19.2% | 0.84 | 37.2% |
| Equity (SPY) | 14.5% | 18.9% | 0.59 | 42.8% |
| Gold (GLD) | 50.2% | 27.7% | 1.46 | -3.4% |
| Commodities (DBC) | 17.8% | 17.6% | 0.85 | 3.8% |
| Real Estate (VNQ) | 0.4% | 16.4% | -0.15 | 28.7% |
| Bitcoin (BTCUSD) | -23.7% | 44.2% | -0.49 | 21.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OSPN | |
|---|---|---|---|---|
| OSPN | -16.2% | 49.9% | -0.17 | - |
| Sector ETF (XLI) | 12.3% | 17.2% | 0.56 | 34.7% |
| Equity (SPY) | 11.8% | 17.0% | 0.54 | 39.9% |
| Gold (GLD) | 20.7% | 17.7% | 0.96 | 6.5% |
| Commodities (DBC) | 11.6% | 18.9% | 0.50 | 8.4% |
| Real Estate (VNQ) | 3.0% | 18.8% | 0.07 | 28.6% |
| Bitcoin (BTCUSD) | 4.0% | 56.6% | 0.29 | 20.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OSPN | |
|---|---|---|---|---|
| OSPN | -3.3% | 50.3% | 0.14 | - |
| Sector ETF (XLI) | 13.0% | 19.8% | 0.58 | 32.8% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 39.1% |
| Gold (GLD) | 13.3% | 15.8% | 0.70 | 3.0% |
| Commodities (DBC) | 8.2% | 17.6% | 0.39 | 11.5% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 25.4% |
| Bitcoin (BTCUSD) | 66.4% | 66.8% | 1.06 | 12.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2025 | -3.0% | -4.3% | 7.1% |
| 2/27/2025 | -1.1% | 1.5% | -4.7% |
| 10/30/2024 | 14.6% | 20.8% | 24.5% |
| 8/1/2024 | 0.1% | 4.8% | 11.1% |
| 3/6/2024 | 23.1% | 2.7% | 19.1% |
| 11/8/2023 | 9.5% | 21.8% | 20.0% |
| 2/28/2023 | 22.4% | 31.4% | 26.3% |
| 11/1/2022 | 11.8% | 28.7% | 29.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 9 | 11 |
| # Negative | 8 | 9 | 7 |
| Median Positive | 10.6% | 4.8% | 11.1% |
| Median Negative | -9.9% | -14.9% | -9.8% |
| Max Positive | 23.1% | 31.4% | 29.4% |
| Max Negative | -39.6% | -33.4% | -33.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 03/06/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/03/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Martell, Jorge Garcia | Chief Financial Officer | Direct | Sell | 12122025 | 12.97 | 10,000 | 129,675 | 1,410,994 | Form |
| 2 | Zenner, Marc | Direct | Buy | 11052025 | 12.13 | 2,000 | 24,260 | 888,794 | Form | |
| 3 | McConnell, Michael J | Direct | Buy | 11052025 | 11.96 | 50,000 | 598,000 | 1,001,805 | Form | |
| 4 | Capers, Garry L | Direct | Buy | 8082025 | 13.07 | 2,000 | 26,139 | 482,182 | Form | |
| 5 | Zenner, Marc | Direct | Buy | 8082025 | 12.80 | 2,200 | 28,160 | 912,294 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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