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OneSpan Inc (OSPN)


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Upturn Advisory Summary
10/15/2025: OSPN (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $19.5
1 Year Target Price $19.5
2 | Strong Buy |
0 | Buy |
2 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -31.72% | Avg. Invested days 33 | Today’s Advisory WEAK BUY |
Upturn Star Rating ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 576.40M USD | Price to earnings Ratio 9.83 | 1Y Target Price 19.5 |
Price to earnings Ratio 9.83 | 1Y Target Price 19.5 | ||
Volume (30-day avg) 4 | Beta 1.32 | 52 Weeks Range 12.40 - 20.04 | Updated Date 10/17/2025 |
52 Weeks Range 12.40 - 20.04 | Updated Date 10/17/2025 | ||
Dividends yield (FY) 2.34% | Basic EPS (TTM) 1.53 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 24.9% | Operating Margin (TTM) 17.64% |
Management Effectiveness
Return on Assets (TTM) 10.34% | Return on Equity (TTM) 28.45% |
Valuation
Trailing PE 9.83 | Forward PE - | Enterprise Value 513621610 | Price to Sales(TTM) 2.4 |
Enterprise Value 513621610 | Price to Sales(TTM) 2.4 | ||
Enterprise Value to Revenue 2.13 | Enterprise Value to EBITDA 8.38 | Shares Outstanding 38324622 | Shares Floating 37560812 |
Shares Outstanding 38324622 | Shares Floating 37560812 | ||
Percent Insiders 5.52 | Percent Institutions 98.11 |
Upturn AI SWOT
OneSpan Inc

Company Overview
History and Background
OneSpan Inc. (formerly Vasco Data Security) was founded in 1991. Initially focused on security hardware, it evolved into a digital identity and security solutions provider. Key milestones include strategic acquisitions and a shift towards software-based solutions for banking and other industries.
Core Business Areas
- Digital Agreements: Provides secure and compliant digital agreements, including e-signatures, workflow automation, and identity verification. This supports secure online transactions and document management.
- Trusted Identity: Offers solutions for secure authentication, fraud mitigation, and identity management. This includes multi-factor authentication (MFA), mobile security, and risk analytics.
Leadership and Structure
The leadership team includes Matt Moynahan (CEO) and other executives in finance, technology, and sales. The organizational structure is functional, with departments focusing on product development, marketing, sales, and operations.
Top Products and Market Share
Key Offerings
- SigniFlow: A secure electronic signature solution that enables organizations to digitize their agreement processes. Market share is estimated to be in the single-digit percentages. Competitors include DocuSign, Adobe Sign, and HelloSign.
- Mobile Security Suite: Provides a comprehensive suite of tools to secure mobile applications and transactions, including app shielding, authentication, and fraud prevention. Market share data is not readily available. Competitors include Entrust, Thales Group, and ForgeRock.
Market Dynamics
Industry Overview
The digital identity and security market is growing rapidly, driven by increasing cybersecurity threats, digital transformation initiatives, and regulatory compliance requirements. Key trends include the adoption of cloud-based solutions and the rise of mobile security.
Positioning
OneSpan Inc. is positioned as a provider of secure digital identity and transaction solutions, primarily targeting financial institutions and regulated industries. Competitive advantages include its strong expertise in security and compliance, as well as its focus on customer experience.
Total Addressable Market (TAM)
The total addressable market (TAM) for digital identity and security is estimated to be several billion dollars annually and is expected to grow. OneSpan Inc. is positioned to capture a portion of this market by offering secure and compliant solutions. A specific TAM is difficult to pin down, estimates for digital identity market reach upwards of $70 Billion by 2027.
Upturn SWOT Analysis
Strengths
- Strong expertise in security and compliance
- Focus on financial institutions and regulated industries
- Comprehensive suite of digital identity and transaction solutions
- Established customer base
Weaknesses
- Smaller scale compared to larger competitors
- Dependence on specific industries (financial services)
- Historically slower growth compared to pure SaaS players
- Past financial performance volatility
Opportunities
- Expanding into new markets and industries
- Developing new and innovative solutions
- Leveraging partnerships and alliances
- Increased demand for digital security solutions
Threats
- Intense competition from larger players
- Rapid technological changes
- Evolving regulatory landscape
- Economic downturns
Competitors and Market Share
Key Competitors
- DOCU
- ADBE
- ENTU
Competitive Landscape
OneSpan Inc. faces intense competition from larger and more established players in the digital identity and security market. It needs to differentiate itself through innovation, customer service, and strategic partnerships.
Major Acquisitions
DealFlo
- Year: 2018
- Acquisition Price (USD millions): 51.6
- Strategic Rationale: DealFlou2019s cloud-based customer onboarding and loan origination solutions were acquired to expand the OneSpan Inc. platform for digital transformation.
Growth Trajectory and Initiatives
Historical Growth: OneSpan Inc.'s historical growth has been mixed, with periods of rapid growth followed by slower growth or declines. Please refer to financial statements for specific data.
Future Projections: Future growth projections for OneSpan Inc. require access to analyst estimates. These estimates can be found on financial websites.
Recent Initiatives: Recent initiatives could include new product launches, strategic partnerships, and acquisitions. Information about these initiatives can be found in press releases and investor presentations.
Summary
OneSpan Inc. is a niche player in the growing digital identity and security market, with a focus on financial institutions. While its expertise and established customer base are strengths, it faces intense competition from larger players. Strategic acquisitions and partnerships will be crucial for future growth. OneSpan Inc. needs to keep innovating and adapting to changing technology.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company website
- SEC filings
- Industry reports
- Financial news sources
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It is not financial advice and should not be used as the sole basis for investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About OneSpan Inc
Exchange NASDAQ | Headquaters Boston, MA, United States | ||
IPO Launch date 1998-03-23 | CEO & President Mr. Victor T. Limongelli Esq. | ||
Sector Technology | Industry Software - Infrastructure | Full time employees 471 | Website https://www.onespan.com |
Full time employees 471 | Website https://www.onespan.com |
OneSpan Inc., together with its subsidiaries, provides digital solutions for security, authentication, identity, electronic signature, and digital workflow products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers Cloud Authentication, a cloud-based multifactor authentication solution that supports various authentication options, including biometrics, push notification, and visual cryptograms for transaction data security, SMS, and hardware authenticators; Mobile Security Suite, a software development kit that protects mobile transactions; Mobile Application Shielding that protects mobile applications from attacks by malware allowing secure usage of mobile applications even in hostile environments; authentication servers that provides various authentication utilities and solutions designed to allow organizations to securely authenticate users and transactions; Authentication Suite, a solution to protect organizations from cyber threats; and Digipass Authenticators, consisting of various authentication devices. It also provides OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Notary, an online notary solution developed for organizations with in-house notaries; OneSpan Identity Verification that enables banks and financial institutions identity verification services; and OneSpan Integration Platform, a platform that enables organizations to easily integrate e-signatures powered by OneSpan Sign into well-known applications, such as Microsoft Apps, Google Workspace, Salesforce, and Workday. It sells its solutions through its direct sales force, distributors, resellers, systems integrators, and original equipment manufacturers. The company was formerly known as VASCO Data Security International, Inc. and changed its name to OneSpan Inc. in May 2018. OneSpan Inc. was founded in 1991 and is headquartered in Boston, Massachusetts.

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