Onespan (NASDAQ:OSPN) Issues Earnings Results

Onespan (NASDAQ:OSPN) announced its quarterly earnings results on Thursday. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05, FiscalAI reports. Onespan had a net margin of 24.08% and a return on equity of 18.41%. The firm had revenue of $62.92 million during the quarter, compared to analysts’ expectations of $59.78 million.

Here are the key takeaways from Onespan’s conference call:

• OneSpan is now a predominantly software business with ARR of $187 million (up 11.5% YoY) and software/services expected to be >80% of revenue in 2026, driven by subscription growth in both Cybersecurity and Digital Agreements.
• The company generated strong profitability and cash flow in 2025 — $77.6M adjusted EBITDA for the year and ~$59.5M operating cash flow — while returning ~$32M to shareholders and raising the quarterly dividend to $0.13.
• Management is pursuing targeted M&A to strengthen product lines, notably the planned acquisition of Build38 (to deepen App Shielding) and prior deals (Nok Nok, ThreatFabric) to broaden mobile protection and authentication capabilities.
• Near-term profitability will be modestly impacted by planned investments (~$5.5M incremental S&M and R&D in 2026) and the Build38 acquisition, which management expects to dilute adjusted EBITDA by about $3M–$4M in 2026.
• 2026 guidance calls for modest growth — ARR of $192M–$196M (3%–5%), software/services revenue $201M–$204M (4%–5%) and total revenue $244M–$249M (0%–2%) — with adjusted EBITDA guided to $64M–$68M.

Onespan Stock Performance

NASDAQ OSPN traded up $0.23 on Thursday, reaching $11.37. 413,589 shares of the company’s stock traded hands, compared to its average volume of 716,319. Onespan has a fifty-two week low of $10.17 and a fifty-two week high of $18.13. The firm has a market cap of $432.40 million, a price-to-earnings ratio of 7.73, a P/E/G ratio of 0.87 and a beta of 1.53. The stock has a 50 day moving average price of $11.99 and a 200-day moving average price of $13.42.

Wall Street Analyst Weigh In

Several research analysts have recently commented on OSPN shares. DA Davidson reduced their price target on Onespan from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Rosenblatt Securities decreased their target price on shares of Onespan from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Onespan in a report on Monday, December 29th. Finally, Wall Street Zen lowered Onespan from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Onespan currently has an average rating of “Moderate Buy” and an average price target of $17.00.

Hedge Funds Weigh In On Onespan

Institutional investors and hedge funds have recently modified their holdings of the stock. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in shares of Onespan by 81.8% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,000 shares of the company’s stock worth $26,000 after buying an additional 900 shares during the last quarter. Deutsche Bank AG lifted its holdings in Onespan by 4.7% in the fourth quarter. Deutsche Bank AG now owns 33,569 shares of the company’s stock valued at $431,000 after acquiring an additional 1,522 shares during the period. Amundi boosted its position in Onespan by 10.0% in the 4th quarter. Amundi now owns 18,463 shares of the company’s stock worth $237,000 after purchasing an additional 1,676 shares in the last quarter. Comerica Bank grew its stake in shares of Onespan by 455.2% during the 1st quarter. Comerica Bank now owns 2,465 shares of the company’s stock worth $38,000 after purchasing an additional 2,021 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of Onespan by 0.8% during the 4th quarter. Lazard Asset Management LLC now owns 264,828 shares of the company’s stock valued at $3,400,000 after purchasing an additional 2,197 shares in the last quarter. Institutional investors and hedge funds own 95.52% of the company’s stock.

About Onespan

OneSpan, formerly known as Vasco Data Security International, is a Chicago-based cybersecurity software company specializing in digital identity and anti-fraud solutions. Founded in 1991, the company provides a suite of authentication and transaction security products designed to help organizations protect critical applications and high-value transactions across online, mobile and in-branch channels.

The core OneSpan portfolio includes multi-factor authentication, risk-based authentication and transaction signing solutions.