OneSpan (OSPN) AI Stock Analysis

• Market Cap: $585.69M
• Dividend Yield: 3.14%
• Average Volume (3M): 459.18K
• Price to Earnings (P/E): 10.4
• Beta (1Y): 1.36
• Revenue Growth: -0.26%
• EPS Growth: N/A
• Country: US
• Employees: 465
• Sector: Technology
• Sector Strength: 93
• Industry: Software - Infrastructure
• EPS (TTM): 0.45
• Shares Outstanding: 38,230,470
• 10 Day Avg. Volume: 443,120
• 30 Day Avg. Volume: 459,175
• PEG Ratio: 5.01
• Price to Book (P/B): 2.57
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 11.87
• Enterprise Value/Market Cap: 0.83
• Enterprise Value/Revenue: 0.50
• Enterprise Value/Gross Profit: 2.81
• Enterprise Value/Ebitda: 2.46
• 1Y Price Target: $19.33
• Price Target Upside: 27.68% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 72 Outperform
• Price Target: $17.50 ▲(15.59%Upside)

OneSpan's strong financial performance and attractive valuation are key strengths, contributing to a solid stock score. While the earnings call highlighted significant achievements, ongoing challenges in revenue growth and technical indicators suggest caution.

OneSpan Business Overview & Revenue Model

Company Description

OneSpan (OSPN) is a technology company specializing in digital identity and anti-fraud solutions. The company operates primarily in the cybersecurity and financial services sectors, offering a range of products and services including multi-factor authentication, digital signature solutions, and identity verification tools. OneSpan's core mission is to enable secure and seamless digital transactions for businesses and consumers worldwide.

How the Company Makes Money

OneSpan makes money through a combination of product sales, software licenses, and subscription-based services. Its revenue model is centered around providing digital security solutions to financial institutions, government agencies, and enterprises. The company generates significant income from its flagship product, the OneSpan Trusted Identity (TID) platform, which offers cloud-based services for secure customer onboarding and transaction authentication. Additionally, OneSpan partners with major banks and financial institutions to integrate its security solutions into their existing systems, further expanding its market reach and revenue potential.

OneSpan Financial Statement Overview

Summary

OneSpan exhibits strong financial performance with increasing revenues and profitability, efficient cost management, strong profit margins, and effective cash flow management. However, challenges in revenue growth and asset expansion need attention.

Income Statement

OneSpan's income statement reflects a positive trajectory with increasing revenues and profitability. The TTM Gross Profit Margin is approximately 71.88%, indicating efficient cost management. The Net Profit Margin at 24.05% shows strong profitability. However, a slight decline in revenue growth rate by 0.61% from the previous year indicates a need for caution. The EBIT and EBITDA margins are healthy at 20.52% and 23.31%, respectively, demonstrating operational efficiency.

Balance Sheet

OneSpan maintains a solid financial position with a low Debt-to-Equity ratio of 0.03 and a high Equity Ratio of 69.23%, indicating financial stability and low leverage. The Return on Equity is commendable at 25.15%, reflecting efficient use of equity to generate profits. However, the decrease in total assets and equity over the years may suggest potential challenges in asset growth.

Cash Flow

The cash flow statement shows robust cash generation capabilities with a strong Free Cash Flow to Net Income Ratio of 0.86 in TTM, indicating effective conversion of profits into cash. The Operating Cash Flow to Net Income Ratio is slightly above 1, suggesting good quality of earnings. The Free Cash Flow Growth Rate of 8.18% over the past year signals effective cash flow management despite minor fluctuations in capital expenditure.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	243.18M	235.11M	219.01M	214.48M	215.69M
Gross Profit	174.58M	157.72M	148.57M	142.94M	152.25M
EBITDA	54.85M	-5.08M	-6.74M	-17.20M	6.75M
Net Income	57.08M	-29.80M	-14.43M	-30.58M	-5.46M
Balance Sheet
Total Assets	338.73M	289.19M	335.08M	342.27M	375.20M
Cash, Cash Equivalents and Short-Term Investments	83.16M	42.49M	98.83M	98.49M	115.25M
Total Debt	6.93M	6.82M	8.44M	10.18M	12.40M
Total Liabilities	126.20M	130.05M	131.77M	122.49M	117.86M
Stockholders Equity	212.53M	159.14M	203.31M	219.78M	257.34M
Cash Flow
Free Cash Flow	46.42M	-23.28M	-10.81M	-4.95M	11.82M
Operating Cash Flow	55.67M	-10.73M	-5.79M	-2.75M	14.92M
Investing Cash Flow	-9.30M	-12.01M	46.59M	-10.98M	-4.66M
Financing Cash Flow	-5.24M	-32.09M	-7.31M	-10.39M	-7.06M

OneSpan Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 15.14
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OSPN, the sentiment is Negative. The current price of 15.14 is below the 20-day moving average (MA) of 16.42, below the 50-day MA of 16.18, and below the 200-day MA of 16.61, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 35.85 is Neutral, neither overbought nor oversold. The STOCH value of 3.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for OSPN.

OneSpan Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GCT	80 Outperform	$703.05M	6.85	34.42%	―	42.89%	18.97%
OSPN	72 Outperform	$585.69M	10.41	28.92%	3.14%	-0.26%	―
YEXT	71 Outperform	$990.20M	―	-15.69%	―	8.38%	-278.88%
Sector *	63 Neutral	$34.26B	5.42	-11.67%	1.85%	5.30%	-18.55%
PRTH	59 Neutral	$570.24M	―	57.39%	―	15.76%	82.78%
RPAY	55 Neutral	$438.53M	―	-1.64%	―	2.26%	85.37%
CGNT	52 Neutral	$668.47M	―	-4.06%	―	―	―

OneSpan Corporate Events

OneSpan Secures $100 Million Credit Agreement

On June 23, 2025, OneSpan Inc. entered into a $100 million Credit Agreement with MUFG Bank, Ltd. and other lenders, establishing a revolving credit facility with a $10 million letter of credit sublimit. The agreement allows OneSpan to borrow, repay, and reborrow funds until June 23, 2030, with interest rates varying based on the company’s consolidated net leverage ratio. The credit facility is secured by a first-priority lien on substantially all of the company’s and certain subsidiaries’ assets, and includes customary covenants and default provisions.

The most recent analyst rating on (OSPN) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on OneSpan stock, see the OSPN Stock Forecast page.

OneSpan Stockholders Approve Key Proposals at Annual Meeting

On June 6, 2025, OneSpan held its annual meeting of stockholders where several key proposals were voted on. The election of seven directors was confirmed, with all nominees successfully elected to serve until the 2026 meeting. Additionally, stockholders approved the executive officer compensation, an amendment to the 2019 Omnibus Incentive Plan to increase available shares by 1,500,000, and the ratification of KPMG LLP as the independent registered public accounting firm for 2025.

The most recent analyst rating on (OSPN) stock is a Buy with a $19.00 price target. To see the full list of analyst forecasts on OneSpan stock, see the OSPN Stock Forecast page.