OneSpan Inc
F:VDY
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OneSpan Inc
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OneSpan Inc
OneSpan makes software and security tools that help businesses verify who is signing in, approving a transaction, or signing a document online. Its main products cover identity verification, strong customer authentication, fraud prevention, and electronic signatures. The company also has a history of selling physical security devices such as authentication tokens, but its core role is helping organizations protect high-value digital interactions. Its main customers are banks, financial institutions, insurers, government agencies, and other enterprises that need to secure login and approval workflows. OneSpan usually makes money by selling software subscriptions, licenses, and related support services, with some revenue from devices and maintenance. Customers use its products when they need stronger security than a simple password or a basic e-signature tool can provide. What makes OneSpan different is that it focuses on trust and transaction security, not broad office software. It sits in the path of an important business action, such as opening an account, approving a payment, or signing a regulated document. That gives it a specialized place in the identity and digital agreement market, especially where security, compliance, and fraud reduction matter most.
OneSpan makes software and security tools that help businesses verify who is signing in, approving a transaction, or signing a document online. Its main products cover identity verification, strong customer authentication, fraud prevention, and electronic signatures. The company also has a history of selling physical security devices such as authentication tokens, but its core role is helping organizations protect high-value digital interactions.
Its main customers are banks, financial institutions, insurers, government agencies, and other enterprises that need to secure login and approval workflows. OneSpan usually makes money by selling software subscriptions, licenses, and related support services, with some revenue from devices and maintenance. Customers use its products when they need stronger security than a simple password or a basic e-signature tool can provide.
What makes OneSpan different is that it focuses on trust and transaction security, not broad office software. It sits in the path of an important business action, such as opening an account, approving a payment, or signing a regulated document. That gives it a specialized place in the identity and digital agreement market, especially where security, compliance, and fraud reduction matter most.
Strong quarter: OneSpan said Q1 was a good start to 2026, with total revenue up 4% to $66 million, subscription revenue up 8% year-over-year, and adjusted EBITDA margin at 32%.
ARR improved: Annual recurring revenue rose 14% to $192 million, and management raised full-year ARR guidance to $194 million to $198 million.
Mix shift continues: Hardware remained in decline and was only 16% of revenue, while subscription revenue reached 80% of total revenue.
Build38 and NOK NOK: The company said both acquisitions are expanding its product set, with NOK NOK ARR up about 20% since closing and Build38 adding mobile app shielding and telemetry.
Capital returns: OneSpan returned more than $10 million to shareholders in Q1 through dividends and buybacks, and approved a quarterly dividend of $0.13 per share.
Outlook unchanged: Full-year revenue guidance of $244 million to $249 million and adjusted EBITDA guidance of $64 million to $68 million were both affirmed.
