OneSpan Inc
NASDAQ:OSPN
OneSpan Inc
OneSpan, Inc. engages in the design, development, and marketing of security solutions for identity, security, and business productivity that protect and facilitate transactions online, via mobile devices, and in-person. The company is headquartered in Chicago, Illinois and currently employs 879 full-time employees. The firm provides digital identity and anti-fraud solutions to financial institutions and other businesses. Its secure access to online accounts, data, assets, and applications for global enterprises; provide tools for application developers to integrate security functions into their Web-based and mobile applications and facilitate end-to-end financial agreement automation, including digital identity verification and electronic signature. Its products include OneSpan Sign, OneSpan Sign Virtual Room, OneSpan Cloud Authentication, Mobile Security Suite, OneSpan Identity Verification, Intelligent Adaptive Authentication, Mobile Authenticator Studio and Mobile App Shielding. The company offers technologies across multi-factor authentication, document signing, and in mitigating hacking attacks.
OneSpan, Inc. engages in the design, development, and marketing of security solutions for identity, security, and business productivity that protect and facilitate transactions online, via mobile devices, and in-person. The company is headquartered in Chicago, Illinois and currently employs 879 full-time employees. The firm provides digital identity and anti-fraud solutions to financial institutions and other businesses. Its secure access to online accounts, data, assets, and applications for global enterprises; provide tools for application developers to integrate security functions into their Web-based and mobile applications and facilitate end-to-end financial agreement automation, including digital identity verification and electronic signature. Its products include OneSpan Sign, OneSpan Sign Virtual Room, OneSpan Cloud Authentication, Mobile Security Suite, OneSpan Identity Verification, Intelligent Adaptive Authentication, Mobile Authenticator Studio and Mobile App Shielding. The company offers technologies across multi-factor authentication, document signing, and in mitigating hacking attacks.
Revenue Guidance Lowered: OneSpan cut its full-year 2025 revenue outlook to $239–241 million, down from a prior $245–251 million range, citing greater hardware headwinds and slower net expansion activity.
ARR Guidance Also Cut: Annual recurring revenue (ARR) guidance was reduced to $183–187 million, from a previous $186–192 million, mainly due to lower expansion in security and ongoing hardware decline.
Profitability & Cash Flow: The company delivered $17.5 million in adjusted EBITDA (31% margin) and $11 million in operating cash flow this quarter, maintaining strong profitability.
Software Growth: Software now accounts for over 80% of the business, with double-digit subscription and ARR growth; hardware continues its secular decline, now below 20% of total revenue.
Strategic Moves: The Nok Nok acquisition and ThreatFabric investment are expected to drive future growth, especially around FIDO2 authentication products, with more impact in 2026.
Margins Stable: Gross margin remained strong at 74%, in line with the prior year.
Shareholder Returns: Over $20 million in capital returned year-to-date via buybacks and dividends; another $0.12 per share dividend approved for Q4.
