OneSpan Inc. (OSPN) Stock

OneSpan Inc. (OSPN) is a Technology stock trading at $15.58 (as of 2026-08-20), with a market capitalization of $577.60M and a trailing P/E of 15.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

OneSpan Inc. develops and sells digital security and identity solutions, including electronic signing, cloud multi-factor authentication, and identity verification services. It also provides supporting offerings such as mobile security software, mobile authenticator tooling, authentication server capabilities, and risk analytics, serving organizations such as banks and other financial institutions.

Understand OneSpan Inc.: how it makes money

OneSpan Inc. designs and sells digital solutions for identity and security, including e-signature, cloud multifactor authentication, and identity verification. It makes money by selling subscription and other offerings related to these products, including security solutions and digital agreements.

Profitability is structurally tied to recurring revenue strength, because the company reports sizable Annual Recurring Revenue (ARR) alongside above-100% Dollar-Based Net Revenue Expansion Rate (109%) and above-100% Net Revenue Retention Rate (105%), which supports high Gross Margin (73.6%) and Operating Margin (22.5%).

Revenue by segment (latest quarter)
SecSol$0.0B
DigAg$0.0B
SvcOther$0.0B

Business quality (Solid): The dataset highlights recurring-revenue metrics (ARR, retention, expansion) that link directly to performance, but it provides only a partial revenue breakdown across offerings, limiting visibility into segment-level drivers of future growth.

Valuation: At 8× earnings, OSPN trades 75% below the Tech Hardware average (32×). Note: one-time items can distort reported P/E.

Bull case

  • Recurring revenue foundation: The company reports Annual Recurring Revenue (0.19 USD_B), indicating a meaningful portion of its business is recurring.
  • Expansion and retention appear supportive: Dollar-Based Net Revenue Expansion Rate is 109% and Net Revenue Retention Rate is 105%, which suggests customers are, on balance, staying and expanding.
  • Strong profitability profile in the latest quarter: For the quarter ended 2026-03-31, Gross Margin is 73.6% and Operating Margin is 22.5%.

Bear case

  • Recurring metrics can be a single point of risk: If Annual Recurring Revenue growth slows, or if Dollar-Based Net Revenue Expansion Rate and Net Revenue Retention Rate fall materially from current levels, the profit engine tied to recurring revenue could weaken.
  • Limited segment clarity in the provided breakdown: The available segment-level revenue buckets in this dataset do not fully sum to the total revenue figure, which makes it harder to isolate what specifically drives changes in the profit profile.
Valuation — source: SEC EDGAR (first-party)
Price$15.58
Market Cap$577.60M
P/E Ratio15.9
EV / EBITDA9.4
Price / Book2.11
Price / Sales2.32
FCF Yield19.5%
DCF Value (model)$16.74
DCF Upside vs Price7.4%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$243.18M
Net Margin30.0%
Revenue Growth (YoY)0.0%
EPS Growth (YoY)28.2%
FCF Growth (YoY)8.8%
Financial Health — source: SEC EDGAR
Altman Z-Score4.71 (safe)
Valuation vs Sector & Industry
Stock P/E15.9
Sector P/E (Technology)33.9
Industry P/E (Computers)32.1
vs Sector-53.3%
vs Industry-50.6%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($42.22M)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryComputers
CEOVictor T. Limongelli
Employees465
CountryUS
IPO Date1998-05-21

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OSPN earnings history · OSPN institutional & insider holders · OSPN KPIs & operating metrics · OSPN financials · OSPN investor presentations & press releases · OSPN SEC filings · OSPN peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.