OSPN · NASDAQ · Software - Infrastructure

OneSpan (OSPN)

Secures digital transactions and agreement workflows for regulated enterprises.

$17.11
vs last close−0.49 (−2.80%)
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OneSpan Inc.OSPN
Information Technology

Sells authentication, mobile security, and digital agreement tools to banks and regulated enterprises. Revenue spans cybersecurity software, Digipass devices, support, and subscription-based agreement workflows, with demand tied to secure digital banking, compliance, and enterprise transaction automation.

Provides cybersecurity products and Digital Agreements software for banks, financial institutions, and regulated enterprises. Cybersecurity includes Cloud Authentication, Digipass software and authenticators, mobile security, app shielding, and authentication servers; Digital Agreements centers on OneSpan Sign, notary, identity verification, and workflow integration.

Revenue is split across EMEA, the Americas, and APAC, with EMEA and the Americas carrying the largest share. Execution depends on replacing legacy hardware authentication with software, passwordless access, and mobile application protection while still supporting a Digipass installed base.

Secure digital banking, e-signature compliance, and fraud prevention shape customer demand. The business operates in markets where authentication vendors, device-security specialists, and larger e-signature platforms compete for regulated workflows.

Company facts

CEOVictor Limongelli
ListedJun 4, 2018
ExchangeNASDAQ
HeadquartersBoston, MA
CountryUnited States
Employees602
CIK0001044777
ISINUS68287N1000

Market cap$652.5M
EPS (ttm)$1.78
P/E (ttm)9.89
ROE25.9%
P/B2.39
P/S2.65
Dividend yieldDiv yield2.90%
Beta1.09vs XLK 0.10

Price target$16.00−9.1%Average of 15 analysts
ConsensusBuy10 of 15 analysts
Ratings

Target rangeAs of Sep 21, 2026

Latest analyst notes

DateFirmActionPriorCurrent
Aug 5, 2026DA DavidsonReiterate
Rating: Target: $13
Rating: NeutralTarget: $16
Oct 31, 2025DA DavidsonReiterate
Rating: Target:
Rating: NeutralTarget: $13
Oct 31, 2024Sidoti & Co.Upgrade
Rating: Neutral
Rating: Buy

Next report
Oct 29, 26
in 37 days
EPS estimate
$0.22
Revenue estimate
$57.4M
Fiscal quarter
Q3 FY26

EPSReportedEstimate

Feb '25May '25Aug '25Oct '25Feb '26Apr '26Aug '26Oct '26
Reported$0.24$0.45$0.34$0.33$0.36$0.39$0.30Pending
Estimate$0.27$0.31$0.27$0.28$0.30$0.36$0.23$0.22
Surprise−11.1%+45.2%+25.9%+17.9%+20.0%+8.3%+29.9%

RevenueReportedEstimate

Feb '25May '25Aug '25Oct '25Feb '26Apr '26Aug '26Oct '26
Reported$61.2M$63.4M$59.8M$57.1M$62.9M$65.9M$60.5MPending
Estimate$58.4M$62.6M$60.1M$59.8M$59.8M$62.4M$58.3M$57.4M
Surprise+4.8%+1.3%−0.5%−4.6%+5.2%+5.7%+3.8%
Estimate$0.22
ReportedDue Oct 29, 2026
Estimate$57.4M
ReportedDue Oct 29, 2026
View details

Debt to equity4.50%
Current ratio132.60%

ProfitabilityRevenueNet incomeNet margin

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$56.2M$61.2M$63.4M$59.8M$57.1M$62.9M$65.9M$60.5M
Net income$8.3M$28.8M$14.5M$8.3M$6.5M$43.5M$11.6M$6.8M
Net margin14.7%47.1%22.9%13.9%11.4%69.2%17.5%11.2%

GrowthOperating income

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Operating income$11.3M$11.8M$17.2M$10.5M$8.2M$14.2M$15.1M$8.7M
YoY growthTurned profit+549.8%+21.8%+37.6%−26.9%+19.9%−12.1%−16.8%

Balance sheet, Jun 30, 2026Cash & short-term investments $43.3M · Total debt $12.4M · Total assets $387.0M · Shareholders' equity $273.5M

Revenue
$60.5M
Operating income
$8.7M
Net income
$6.8M
View details

Dividend yield
2.90%
Next ex-date
Nov 14, 26
estimated · in 53 days
Annual dividend
$0.51
per share
Schedule
Quarterly
4 payments a year

HistoryDividendAnnual yield

Jan '25May '25Aug '25Nov '25Mar '26May '26Aug '26
Dividend$0.12$0.12$0.12$0.12$0.13$0.13$0.13
Annual yield0.62%1.48%2.61%3.79%4.64%4.11%3.12%
Ex-dateJan 31May 16Aug 15Nov 14Mar 13May 14Aug 14
Payment dateFeb 14Jun 6Sep 5Dec 5Mar 27Jun 4Sep 4
View details

Institutions97.22%35.83M shares
201 holders · as of Jun 30, 2026
Insiders12.75%4.70M shares
12 holders · as of Sep 8, 2026
Adds to109.97%

36.85M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing

These groups come from separate filings that can overlap, so they add to 109.97%; nothing is left for Other.

Top shareholders13F · 13D/G · Form 4

HolderStakeSharesDate
BlackRock, Inc.Institution
11.27%4.15Mas of Jun 30, 2026
T. Kendall Hunt1Insider10 percent owner
10.77%7.15Mfiled Dec 21, 2021
Legal & General Investment Management LimitedInstitution
5.99%2.21Mfiled Feb 13, 2024
Legal & General Group PLCInstitution
5.91%2.18Mas of Jun 30, 2026
Neuberger Berman Group LLCInstitution
4.83%1.78Mas of Jun 30, 2026
  1. T. Kendall Hunt's transaction reports restate only vehicles that traded; the 2019 ownership statement (7.15M) less the 3.18M net shares sold since is used instead.

Insider tradesForm 4

DateInsiderRoleSharesAvg price
Jun 16, 2026Jorge Garcia Martellofficer: Chief Financial Officer−20,000$14.45
Mar 30, 2026Lara Mataacofficer: General Counsel+22,739
Mar 16, 2026Jorge Garcia Martellofficer: Chief Financial Officer−15,000$10.33
Mar 4, 2026Marc Zennerdirector+3,300$10.54
Dec 12, 2025Jorge Garcia Martellofficer: Chief Financial Officer−10,000$12.97
View details

  • Docusign

    Largest pure-play pressure point in e-signatures

  • Adobe

    Document-cloud scale competitor in e-signatures

  • Okta

    Adjacent IAM and customer-identity competitor

Compare

CompanyPriceChange
OneSpan$17.11−2.80%$652.5M9.914.22.6+1.0%
Docusign$66.03−3.71%$13.09B41.813.63.9+9.4%
Adobe$242.13−2.96%$99.18B13.99.03.8+12.9%
Okta$192.28+0.49%$31.78B115.347.110.3+10.6%
Median41.813.63.9+10.6%