OneSpan Inc. (OSPN)

In the past six months, OneSpan's stock has been influenced by several key events. In Q1 2025, OneSpan reported record-high adjusted EBITDA of $23 million, subscription revenue grew by 9%, and ARR increased by 9% to $168.4 million, also declaring a quarterly dividend of $0.12 per share. In Q2 2025, the company's operating income increased 38% year-over-year, subscription revenue increased by 22% year-over-year, and ARR grew 8% to $177.8 million, maintaining a Net Retention Rate of 101%. OneSpan announced a strategic investment in and partnership with ThreatFabric to expand its cyber fraud prevention capabilities. OneSpan acquired Nok Nok Labs to enhance its FIDO passwordless authentication capabilities. OneSpan is scheduled to release its Q3 2025 financial results on October 30, 2025, with analysts estimating revenue of USD 58.18 million and EPS of USD 0.21. Between October 22, 2024, and October 21, 2025, the share price increased by 6.66%.

While specific details on demand seasonality are not publicly available, OneSpan's financial reports indicate a strategic shift towards subscription revenue. This transition from legacy perpetual maintenance contracts to term-based subscriptions is intended to improve gross margins and drive consistent ARR growth, which may help mitigate traditional seasonality.

OneSpan, Inc. is a cybersecurity technology company specializing in security, identity, e-signatures, and digital workflows, operating within the Software sector and EDP Services industry. Its business is divided into Digital Agreements, offering solutions like OneSpan Sign, Notary, and Trust Vault, and Security Solutions, which includes software products, SDKs, and Digipass authenticators. OneSpan was formerly known as Vasco Data Security International, Inc.

Headquartered in Chicago, Illinois, OneSpan has offices in Montreal, Brussels, and Zurich. Its solutions are used in over 100 countries, processing millions of digital agreements and billions of multi-factor authentication transactions annually. The company's shareholders are geographically diverse, with a significant portion from the United States (77.0%), followed by the United Kingdom (9.6%), Australia (2.88%), Canada (1.76%), France (1.44%), Ireland (1.07%), Switzerland (0.5%), Hong Kong (0.36%), Netherlands (0.29%), Germany (0.22%), Sweden (0.13%), Norway (0.12%), Liechtenstein (0.06%), Cayman Islands (0.05%), South Korea (0.04%), Israel (0.03%), and Finland (0.01%).

In the past year, OneSpan has undertaken initiatives that positively impact its brand reputation. The strategic investment in ThreatFabric enhances OneSpan's offerings in cyber fraud prevention, mobile threat intelligence, and malware defense. The acquisition of Nok Nok Labs has strengthened OneSpan's FIDO passwordless authentication capabilities. OneSpan introduced new Customer Success Packages with tiered subscription models to provide flexible and ongoing customer support.

OneSpan Inc. has a mixed ownership structure with varying reports indicating different percentages for institutional, insider, retail, and public company/individual investors. Major institutional owners include BlackRock, Inc., Vanguard Group Inc, Legal & General Group Plc, Ameriprise Financial Inc, First Trust Advisors Lp, Neuberger Berman Group LLC, CIBR - First Trust NASDAQ Cybersecurity ETF, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., State Street Corp, and BUG - Global X Cybersecurity ETF. T. Kendall Hunt is identified as the largest individual shareholder, owning 7.23 million shares, representing 18.86% of the company.