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OneSpan Inc (OSPN)



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Upturn Advisory Summary
08/14/2025: OSPN (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $18.33
1 Year Target Price $18.33
2 | Strong Buy |
0 | Buy |
2 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -31.71% | Avg. Invested days 34 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 527.73M USD | Price to earnings Ratio 9 | 1Y Target Price 18.33 |
Price to earnings Ratio 9 | 1Y Target Price 18.33 | ||
Volume (30-day avg) 4 | Beta 1.12 | 52 Weeks Range 12.40 - 20.04 | Updated Date 08/14/2025 |
52 Weeks Range 12.40 - 20.04 | Updated Date 08/14/2025 | ||
Dividends yield (FY) 2.56% | 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 2025-07-30 | When Before Market | Estimate 0.2925 | Actual 0.34 |
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 | Forward PE - | Enterprise Value 456517923 | Price to Sales(TTM) 2.19 |
Enterprise Value 456517923 | Price to Sales(TTM) 2.19 | ||
Enterprise Value to Revenue 1.9 | Enterprise Value to EBITDA 7.45 | Shares Outstanding 38324600 | Shares Floating 37580741 |
Shares Outstanding 38324600 | Shares Floating 37580741 | ||
Percent Insiders 6.91 | Percent Institutions 99.03 |
Upturn AI SWOT
OneSpan Inc

Company Overview
History and Background
OneSpan Inc. (formerly VASCO Data Security International) was founded in 1991. Initially focused on data security and authentication solutions for financial institutions, it evolved to provide a broader suite of digital identity and anti-fraud solutions. Over time, acquisitions and product development expanded its capabilities.
Core Business Areas
- Security Solutions: Offers a suite of security solutions including multi-factor authentication, fraud detection, e-signatures, and secure agreement automation.
- Digital Identity Verification: Provides identity verification solutions to comply with KYC/AML regulations and secure digital onboarding processes.
- eSignature Solutions: Offers e-signature solutions for businesses.
Leadership and Structure
The leadership team consists of the CEO, CFO, CTO, and other executive officers. The organizational structure is functional, with departments for sales, marketing, engineering, product management, and finance.
Top Products and Market Share
Key Offerings
- Digipass: Digipass is a hardware and software authentication solution used primarily by financial institutions. OneSpan had about 10,000 customers as of the most recent report. Competitors include RSA Security and Thales Group. Market share information specifically for Digipass alone is difficult to obtain due to bundled security solution sales.
- SigniFlow: SigniFlow is OneSpan's e-signature platform that allows organizations to manage digital agreements. Competitors include DocuSign and Adobe Sign. OneSpanu2019s e-signature revenue has been growing, but precise market share data is variable and often reported in broader market segments.
- OneSpan Cloud Platform: A cloud based service that is offered as a monthly subscription. This allows flexibility and scalability with lower initial costs.
Market Dynamics
Industry Overview
The digital identity and security market is experiencing rapid growth, driven by increasing cybersecurity threats, regulatory compliance requirements, and the rise of digital transactions. Key trends include cloud-based solutions, mobile authentication, and AI-powered fraud detection.
Positioning
OneSpan Inc. is positioned as a provider of security solutions for financial services, government, and other regulated industries. It differentiates itself through its focus on high-assurance authentication and fraud prevention.
Total Addressable Market (TAM)
The total addressable market for digital identity and security is estimated to be in the billions of dollars and it is expected to grow in the next few years. OneSpan is positioned to capture a portion of this market.
Upturn SWOT Analysis
Strengths
- Strong presence in the financial services industry
- Comprehensive suite of security solutions
- Secure and reliable authentication technology
- Established customer base
Weaknesses
- Reliance on legacy hardware solutions
- Competition from larger players with broader product portfolios
- Relatively slow transition to cloud-based solutions
- Higher cost compared to smaller competitors
Opportunities
- Growing demand for digital identity and anti-fraud solutions
- Expansion into new industries and geographies
- Partnerships with cloud service providers
- Adoption of AI and machine learning to enhance security capabilities
Threats
- Increased competition from established and emerging players
- Evolving cybersecurity threats and vulnerabilities
- Regulatory changes and compliance requirements
- Economic downturn affecting IT spending
Competitors and Market Share
Key Competitors
- DOCU
- ADBE
- FORG
Competitive Landscape
OneSpan Inc. faces competition from larger companies like DocuSign and Adobe, but it has a strong presence in specific verticals and regions. Its advantage lies in its expertise in high-assurance security solutions.
Major Acquisitions
Promon
- Year: 2021
- Acquisition Price (USD millions): 76
- Strategic Rationale: Acquisition of Promon to enhance OneSpan's mobile application security capabilities and expand its reach in the mobile security market.
Growth Trajectory and Initiatives
Historical Growth: OneSpan's growth has been variable, with periods of rapid expansion followed by slower growth or decline. This has been influenced by acquisitions, product transitions, and changes in the competitive landscape.
Future Projections: Future growth is projected to be driven by the increasing demand for digital identity and security solutions. Analysts' estimates vary, but generally anticipate moderate revenue growth.
Recent Initiatives: Recent initiatives include expanding its cloud-based offerings, investing in AI and machine learning capabilities, and focusing on strategic partnerships.
Summary
OneSpan Inc. is a established player in the digital security market. It has great products that are effective in the financial industry with high security. The company must transform into more modern, cloud-based, adaptable solutions to meet upcoming security threats. Competition from larger companies will pressure revenue growth and market share. It is well positioned to capture future growth through strategic acquisitions and solution enhancements.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings
- Market research reports
- Analyst estimates
Disclaimers:
The information provided is for informational purposes only and should not be considered as financial advice. Investment decisions should be based on individual research and consultation with a qualified financial advisor.
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, designs, develops, and markets 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 a range of 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 protect mobile transactions; Mobile Application Shielding which protects mobile applications from attacks by malware, allowing secure usage of mobile applications even in hostile environments; authentication servers that provides a range of strong authentication utilities and solutions designed to allow organizations to securely authenticate users and transactions; Authentication Suite, a solution designed to protect organizations from cyber threats; and Digipass Authenticators, consisting of a wide variety of 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, which 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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