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.
Profitability: OneSpan delivered record adjusted EBITDA for both Q4 and full year 2025, with strong cash generation and margin expansion.
Revenue: Full year 2025 revenue was flat at $243.2 million, as software and services growth offset a significant hardware decline.
Guidance: 2026 revenue is projected at $244–249 million (0–2% growth), with ARR expected to grow 3–5%. Adjusted EBITDA guidance is $64–68 million, reflecting increased investment and dilution from pending M&A.
Business Mix: Software and services now make up 80% of total revenue, up from 76% last year, as the company continues shifting away from hardware.
M&A Strategy: The Build38 acquisition is expected to close in Q1 2026, enhancing mobile app protection capabilities. Management continues to target technology-focused acquisitions.
Capital Returns: Nearly $32 million was returned to shareholders in 2025 via dividends and buybacks, and the quarterly dividend was raised 8% for 2026.
Retention & Growth: Net retention rate rose to 104% in Q4, and Digital Agreements gross retention improved over 4 points to above 90%.
