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OneSpan

American cybersecurity technology company

OneSpan Inc. (until 2018 Vasco Data Security International, Inc.) is an information security company based in Boston, Massachusetts.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

1991Founded1

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  • TickerOSPN on Nasdaq1
  • Industrysoftware industry1
  • HeadquartersChicago1
  • Websitewww.onespan.com
  • Legal formpublic company1
  • Incorporated inDE5
  • Business address1 Marina Park Drive, Unit 1410, Boston, Ma 022105
  • Filer categoryAccelerated filer5
  • LEI984500E502E6DC354D264
  • StatusActive4
  • LEI statusIssued and current4
  • Registered address251 LITTLE FALLS DRIVE, 19808 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 27734774

OneSpan Inc. (until 2018 Vasco Data Security International, Inc.) is an information security company based in Boston, Massachusetts. Services include an internet fraud prevention platform, multi-factor authentication tools and electronic signature software.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

73.8%Gross margin7
19.9%Operating margin7
30.0%Net margin7
0.0%Revenue growth, 20257
26.8%Return on equity7
$50.5MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Subscription brought in 32% of the revenue OneSpan broke down this way in fiscal 2025.

  1. Subscription$156.1M732%up 12% from 2024
  2. Product and License$129.9M727%down 2% from 2024
  3. Services and other$113.3M723%up 2% from 2024
  4. Hardware Products$49.1M710%down 17% from 2024
  5. Maintenance, support and other$34.8M77%down 13% from 2024
  6. Professional Services And Other$3.1M71%down 36% from 2024
Products and services by year
Products and services202320242025
Subscription$106.4M$139.4M$156.1M
Product and License$130.8M$132.1M$129.9M
Services and other$104.3M$111.1M$113.3M
Hardware Products$76.0M$58.9M$49.1M
Maintenance, support and other$46.4M$40.1M$34.8M
Professional Services And Other$6.3M$4.8M$3.1M

Business segments

Cybersecurity brought in 73% of the revenue OneSpan broke down this way in fiscal 2025.

  1. Cybersecurity$177.7M773%down 2% from 2024
  2. Digital Agreements$65.5M727%up 7% from 2024
Business segments by year
Business segments202320242025
Cybersecurity$184.2M$182.2M$177.7M
Digital Agreements$50.9M$61.0M$65.5M

Regions

EMEA brought in 42% of the revenue OneSpan broke down this way in fiscal 2025.

  1. EMEA$102.6M742%down 5% from 2024
  2. Americas$95.7M739%up 10% from 2024
  3. Asia Pacific$44.9M718%down 6% from 2024
Regions by year
Regions202320242025
EMEA$111.6M$108.6M$102.6M
Americas$80.1M$86.8M$95.7M
Asia Pacific$43.5M$47.8M$44.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue26¢$63.8M
  • Research and development14¢$34.2M
  • Other costs20¢$48.8M
  • Income tax10¢$23.5M
  • Profit30¢$72.9M

Out of $243.2M in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Capital spending15¢$9.0M
  • Dividends paid31¢$18.5M
  • Share buybacks22¢$13.1M
  • Kept or used elsewhere32¢$18.9M

Out of $59.5M of cash from operations.7

Financial statements

Revenue8910117$243.2M in 2025−4% since 2019
0$100.0M$200.0M$300.0M2019: $253.5M$253.5M20192020: $215.7M$215.7M2020−15%2021: $214.5M$214.5M2021−1%2022: $219.0M$219.0M2022+2%2023: $235.1M$235.1M2023+7%2024: $243.2M$243.2M2024+3%2025: $243.2M$243.2M2025+0%
Gross profit8910117$179.4M in 2025+7% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $167.8M$167.8M20192020: $148.1M$148.1M2020−12%2021: $142.9M$142.9M2021−3%2022: $148.6M$148.6M2022+4%2023: $157.7M$157.7M2023+6%2024: $174.6M$174.6M2024+11%2025: $179.4M$179.4M2025+3%
Operating income8910117$48.4M in 2025+241% since 2019
-$40.0M-$20.0M0$20.0M$40.0M$60.0M2019: $14.2M$14.2M20192020: -$5.3M-$5.3M20202021: -$26.1M-$26.1M2021+397%2022: -$27.1M-$27.1M2022+4%2023: -$28.9M-$28.9M2023+6%2024: $44.8M$44.8M20242025: $48.4M$48.4M2025+8%
Net income8910117$72.9M in 2025+827% since 2019
-$50.0M0$50.0M$100.0M2019: $7.9M$7.9M20192020: -$5.5M-$5.5M20202021: -$30.6M-$30.6M2021+461%2022: -$14.4M-$14.4M2022−53%2023: -$29.8M-$29.8M2023+106%2024: $57.1M$57.1M20242025: $72.9M$72.9M2025+28%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Total revenue$243.2M$243.2M$235.1M
Total cost of goods sold$63.8M$68.6M$77.4M
Gross profit$179.4M$174.6M$157.7M
Sales and marketing$47.0M$44.5M$70.2M
Research and development$34.2M$32.4M$38.4M
General and administrative$45.7M$46.0M$58.3M
Restructuring and other related charges$1.6M$4.4M$17.3M
Amortization of intangible assets$2.5M$2.4M$2.4M
Total operating costs$130.9M$129.8M$186.6M
Operating income (loss)$48.4M$44.8M-$28.9M
Interest income, net$2.0M$1.8M$2.1M
Other expense, net-$1.1M-$125.0K-$532.0K
Income (loss) before income taxes$49.4M$46.5M-$27.3M
(Benefit) provision for income taxes-$23.5M-$10.6M$2.5M
Net income (loss)$72.9M$57.1M-$29.8M
Basic (in dollars per share)$1.91$1.49-$0.74
Diluted (in dollars per share)$1.88$1.46-$0.74
Basic (in shares)38.2M shares38.4M shares40.2M shares
Diluted (in shares)38.9M shares39.1M shares40.2M shares

Compare OneSpan with another company

The story

In 1984, T. Kendall Hunt founded Vasco as a consulting and software services company for corporate and governmental agencies. In 1991, the company acquired a majority interest in ThumbScan, which claimed to have the first fingerprint reader device for a computer.

In 1993, the company was renamed Vasco Data Security International and expanded its offerings to include data security. Vasco Data Security International was incorporated in July 1997. A public offering in March 1998 made it the parent company of Vasco Corp., which was merged into it in October 1998.

Vasco acquired the Digipass technology in July 1996, when it purchased the Brussels-based company Digipass NV/SA for $8.2 million. It had bought another Brussels firm, Lintel Security NV/SA, for $4.4 million a month earlier, and divested its original consulting business in August 1996. The company marketed the technology internationally in Belgium. In 2009, Vasco announced that Digipass two-factor authentication was available in the App Store for iPhone and iPod Touch. Forbes recognized Vasco on its list of "America's Fastest-Growing Tech Companies" that year.

In 2006, Vasco acquired LOGiCO Smart Card Solutions, a privately owned company located in Austria offering smart card–based authentication and PKI solutions.

In January 2011, Vasco acquired DigiNotar, a Dutch certificate authority. In June 2011, DigiNotar was hacked and started issuing false security certificates. When the news broke, all issued certificates were cancelled and the company went bankrupt.

In 2013, Vasco acquired Cambridge-based technology company Cronto. The patented CrontoSign solution uses specialized color bar codes, so-called Cronto Visual Cryptograms (or photoTAN), to mitigate MITB Trojan malware.

The company established its international headquarters at Dubai Silicon Oasis in 2012. Vasco announced that it would lower EMEA channel entry for VARs at that time.

In 2014, the company acquired Risk IDS, Ltd., a provider of risk-based authentication solutions to the global banking community. By 2015, IDENTIKEY Risk Manager (IRM) was released as a comprehensive risk management solution to improve the methods and speed of organizations to detect fraud.

Read the full text

In November 2015, Vasco completed its acquisition of Silanis Technology, a Canadian document e-signature company, for US$85 million (CA$113 million). By early 2016, the company's cloud electronic signature software, eSignLive, was updated to include integration with Salesforce. Vasco announced a face recognition authentication feature for Digipass in May 2016. The company has partnerships with financial institutions including HSBC Bank USA, Fedict, Rabobank, Arab Bank and Riyadh Bank. The Company has been appointed to the FIDO Alliance board directors.

On May 30, 2018, Vasco changed its name to OneSpan. It now trades under the ticker symbol OSPN.

In May 2018, the company acquired Dealflo, a UK and Canada-based financial agreement automation software company, for GB£41 million.

In January 2023, OneSpan announced it would acquire ProvenDB, an Australia-based startup that delivers secure storage and vaulting for documents based on blockchain technology.

In June 2025, OneSpan acquired Nok Nok Labs.

In February 2026, OneSpan completed the acquisition of Build38, a Munich-based mobile application security company spun off from Giesecke+Devrient, for $34.6 million.

From Wikipedia’s article on OneSpan, shared under CC BY-SA 4.0.6

Leadership

Who has led OneSpan, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (20)

Former names

  • One Span Inc.Jul 10, 2018 to Jul 12, 20185
  • VASCO DATA SECURITY INTERNATIONAL INCSep 12, 1997 to Jun 15, 20185

Timeline

  1. Jan 11, 2024New chief executive Victor Limongelli becomes CEO15
  2. Dec 13, 2021New chief executive Matthew Moynahan becomes CEO17
  3. Aug 11, 2021New chief executive Steven Worth becomes CEO16
  4. Jan 5, 2018New chief executive Scott Clements becomes CEO18
  5. Jan 26, 2006New chief executive T. Kendall Hunt becomes CEO19
  6. 1991Founded Founded1

Filings

317 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 42 major events, 182 insider forms, 43 large holders, 30 other. The latest 20:

  1. Oct 8, 2026SCHEDULE 13G EDGAR
  2. Sep 8, 20264 PRIMARY DOCUMENT EDGAR
  3. Sep 8, 20264 PRIMARY DOCUMENT EDGAR
  4. Sep 8, 20264 PRIMARY DOCUMENT EDGAR
  5. Aug 6, 2026SCHEDULE 13G/A EDGAR
  6. Aug 5, 2026S-8 EDGAR
  7. Aug 4, 202610-Q EDGAR
  8. Aug 4, 20268-K EDGAR
  9. Jun 16, 20264 PRIMARY DOCUMENT EDGAR
  10. Jun 16, 20264 PRIMARY DOCUMENT EDGAR
  11. Jun 15, 2026144 EDGAR
  12. Jun 5, 20268-K EDGAR
  13. May 29, 2026SD EDGAR
  14. May 15, 2026SCHEDULE 13G/A EDGAR
  15. May 14, 20264 PRIMARY DOCUMENT EDGAR
  16. May 14, 20264 PRIMARY DOCUMENT EDGAR
  17. May 14, 2026DEFA14A EDGAR
  18. May 11, 20268-K EDGAR
  19. Apr 30, 202610-Q EDGAR
  20. Apr 30, 20268-K EDGAR

The 317 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

32 open-market trades by officers, directors and large owners since October 2021: 13 buys and 19 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 16, 2026Martell Jorge GarciaChief Financial OfficerSale20,000$14.45$289.0KForm 4
Mar 16, 2026Martell Jorge GarciaChief Financial OfficerSale15,000$10.33$154.9KForm 4
Mar 4, 2026Zenner MarcDirectorBuy3,300$10.54$34.8KForm 4
Dec 12, 2025Martell Jorge GarciaChief Financial OfficerSale10,000$12.97$129.7KForm 4
Nov 5, 2025McConnell Michael JDirectorBuy50,000$11.96$598.0KForm 4
Nov 4, 2025Zenner MarcDirectorBuy2,000$12.13$24.3KForm 4
Aug 8, 2025Capers Garry LDirectorBuy2,000$13.07$26.1KForm 4
Aug 8, 2025Zenner MarcDirectorBuy2,200$12.80$28.2KForm 4
Dec 2, 2024McConnell Michael JDirectorSale53,000$18.51$981.0KForm 4
Mar 15, 2024McConnell Michael JDirectorBuy5,000$9.83$49.1KForm 4
Mar 15, 2024Martell Jorge GarciaChief Financial OfficerSale5,000$10.09$50.5KForm 4
Mar 13, 2024Zenner MarcDirectorBuy2,500$9.89$24.7KForm 4
Aug 14, 2023Zenner MarcDirectorBuy5,000$11.47$57.4KForm 4
Sep 8, 2022McConnell Michael JDirectorBuy6,000$9.97$59.8KForm 4
Sep 7, 2022McConnell Michael JDirectorBuy2,000$9.71$19.4KForm 4
May 18, 2022Nietzel Alfred ADirectorBuy9,000$11.38$102.4KForm 4
May 17, 2022McConnell Michael JDirectorBuy20,000$11.46$229.3KForm 4
Dec 20, 2021HUNT T KENDALLSale15,585$15.87$247.3KForm 4
Dec 17, 2021HUNT T KENDALLSale33,351$16.47$549.3KForm 4
Dec 16, 2021HUNT T KENDALLSale16,480$16.44$270.9KForm 4

All 32 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.4,153,763$59.6M0.0%+443,102
Legal & General Group Plc2,177,532$31.2M0.0%+206,046
Neuberger Berman Group LLC1,780,731$25.5M0.0%+150,755
Dimensional Fund Advisors LP1,730,038$24.8M0.0%+265,514
Vanguard Capital Management LLC1,529,282$21.9M0.0%−77,197
Vanguard Portfolio Management LLC1,424,996$20.4M0.0%+53,946
Arrowstreet Capital, Limited Partnership1,358,422$19.5M0.0%+90,180
State Street Corp1,358,367$19.5M0.0%+29,763
Aqr Capital Management LLC1,188,680$17.1M0.0%+597,120
Geode Capital Management, LLC1,010,765$14.5M0.0%+7,031
Jacobs Levy Equity Management, Inc790,868$11.3M0.0%−76,469
American Century Companies Inc747,592$10.7M0.0%+418,296
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.735,881$10.6M0.0%−87,828
Russell Investments Group, Ltd.592,408$8.5M0.0%+114,543
Bank of New York Mellon Corp506,758$7.3M0.0%+2,617
Tcw Group Inc464,349$6.7M0.0%New
Fmr LLC451,544$6.5M0.0%+226,112
Deprince Race & Zollo Inc449,030$6.4M0.1%−10,475
Northern Trust Corp415,896$6.0M0.0%+36,443
Goldman Sachs Group Inc355,598$5.1M0.0%−36,814
Morgan Stanley352,389$5.1M0.0%−27,885
Nuveen, LLC342,600$4.9M0.0%+242,828
Lazard Asset Management LLC319,024$4.6M0.0%−33,619
Charles Schwab Investment Management Inc312,014$4.5M0.0%−2,448
Royce & Associates LP310,136$4.5M0.0%+39,932

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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