OneSpan (OSPN) Financials

$15.25 +0.37 (+2.49%)

As of 04:00 PM Eastern

Annual Income Statements for OneSpan

This table shows OneSpan's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-14	-30	57
Consolidated Net Income / (Loss)	-14	-30	57
Net Income / (Loss) Continuing Operations	-14	-30	57
Total Pre-Tax Income	-12	-27	46
Total Operating Income	-27	-29	45
Total Gross Profit	149	158	175
Total Revenue	219	235	243
Operating Revenue	219	235	243
Total Cost of Revenue	70	77	69
Operating Cost of Revenue	70	77	69
Total Operating Expenses	176	187	130
Selling, General & Admin Expense	56	58	46
Marketing Expense	61	70	45
Research & Development Expense	42	38	32
Amortization Expense	4.14	2.35	2.35
Restructuring Charge	13	17	4.44
Total Other Income / (Expense), net	15	1.56	1.68
Interest & Investment Income	0.60	2.09	1.81
Other Income / (Expense), net	15	-0.53	-0.13
Income Tax Expense	2.74	2.49	-11
Basic Earnings per Share	($0.36)	($0.74)	$1.49
Weighted Average Basic Shares Outstanding	40.14M	40.19M	38.39M
Diluted Earnings per Share	($0.36)	($0.74)	$1.46
Weighted Average Diluted Shares Outstanding	40.14M	40.19M	39.09M
Weighted Average Basic & Diluted Shares Outstanding	40.00M	37.79M	38.18M
Cash Dividends to Common per Share	-	-	$0.12

This table shows OneSpan's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	-7.20	-3.10	-8.36	-18	-4.13	0.44	13	6.55	8.27	29
Consolidated Net Income / (Loss)	-7.20	-3.10	-8.36	-18	-4.13	0.44	13	6.55	8.27	29
Net Income / (Loss) Continuing Operations	-7.20	-3.10	-8.36	-18	-4.13	0.44	13	6.55	8.27	29
Total Pre-Tax Income	-6.60	-2.60	-7.67	-17	-3.85	1.36	15	8.49	9.96	14
Total Operating Income	-5.63	-4.01	-8.13	-18	-4.79	1.82	14	7.64	11	12
Total Gross Profit	38	38	39	34	41	43	47	40	42	45
Total Revenue	57	57	58	56	59	63	65	61	56	61
Operating Revenue	57	57	58	56	59	63	65	61	56	61
Total Cost of Revenue	19	19	18	21	18	19	17	21	15	16
Operating Cost of Revenue	19	19	18	21	18	19	17	21	15	16
Total Operating Expenses	44	42	47	52	45	42	33	33	30	33
Selling, General & Admin Expense	12	16	17	16	12	14	10	12	11	13
Marketing Expense	15	16	20	20	17	14	13	11	10	11
Research & Development Expense	9.54	8.14	9.46	10	10	8.73	8.26	8.34	7.53	8.29
Amortization Expense	0.96	0.58	0.58	0.58	0.58	0.60	0.60	0.59	0.59	0.59
Restructuring Charge	6.48	1.48	0.71	5.85	6.52	4.24	1.50	1.71	0.70	0.54
Total Other Income / (Expense), net	-0.98	1.41	0.46	0.61	0.94	-0.46	0.39	0.85	-1.29	1.73
Interest & Investment Income	0.18	0.40	0.50	0.59	0.59	0.42	0.10	0.52	0.62	0.56
Other Income / (Expense), net	-1.16	1.01	-0.04	0.03	0.35	-0.87	0.29	0.33	-1.92	1.17
Income Tax Expense	0.60	0.50	0.69	0.60	0.28	0.92	1.03	1.94	1.69	-15
Basic Earnings per Share	($0.18)	($0.08)	($0.21)	($0.44)	($0.10)	$0.01	$0.35	$0.17	$0.21	$0.76
Weighted Average Basic Shares Outstanding	39.72M	40.14M	40.06M	40.40M	40.45M	40.19M	38.06M	38.53M	38.70M	38.39M
Diluted Earnings per Share	($0.18)	($0.08)	($0.21)	($0.44)	($0.10)	$0.01	$0.35	$0.17	$0.21	$0.73
Weighted Average Diluted Shares Outstanding	39.72M	40.14M	40.06M	40.40M	40.45M	40.19M	38.46M	39.01M	39.46M	39.09M
Weighted Average Basic & Diluted Shares Outstanding	39.66M	40.00M	39.95M	39.98M	39.89M	37.79M	37.85M	37.87M	37.99M	38.18M

This table details how cash moves in and out of OneSpan's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	33	-54	40
Net Cash From Operating Activities	-5.76	-11	56
Net Cash From Continuing Operating Activities	-5.76	-11	56
Net Income / (Loss) Continuing Operations	-14	-30	57
Consolidated Net Income / (Loss)	-14	-30	57
Depreciation Expense	7.07	6.48	8.36
Non-Cash Adjustments To Reconcile Net Income	-2.10	18	5.24
Changes in Operating Assets and Liabilities, net	3.71	-5.05	-15
Net Cash From Investing Activities	47	-12	-9.31
Net Cash From Continuing Investing Activities	47	-12	-9.31
Purchase of Property, Plant & Equipment	-5.00	-12	-9.25
Acquisitions	-0.03	-1.86	-0.06
Purchase of Investments	-16	0.00	0.00
Sale and/or Maturity of Investments	49	2.33	0.00
Other Investing Activities, net	19	0.00	0.00
Net Cash From Financing Activities	-7.31	-32	-5.24
Net Cash From Continuing Financing Activities	-7.31	-32	-5.24
Repurchase of Common Equity	-5.72	-29	-0.00
Other Financing Activities, net	-1.59	-2.94	-5.24
Other Net Changes in Cash	-	-	-1.32
Cash Income Taxes Paid	2.03	4.99	2.30

This table details how cash moves in and out of OneSpan's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	4.25	15	10	-23	-15	-26	21	-0.58	14	5.50
Net Cash From Operating Activities	-2.40	7.92	13	-20	-7.45	3.10	27	2.30	14	12
Net Cash From Continuing Operating Activities	-2.40	7.92	13	-20	-7.51	3.11	27	2.30	14	12
Net Income / (Loss) Continuing Operations	-7.20	-3.10	-8.36	-18	-4.13	0.44	13	6.55	8.27	29
Consolidated Net Income / (Loss)	-7.20	-3.10	-8.36	-18	-4.13	0.44	13	6.55	8.27	29
Depreciation Expense	1.65	1.38	1.32	1.52	1.69	1.96	2.08	2.06	1.94	2.28
Non-Cash Adjustments To Reconcile Net Income	7.51	3.61	4.17	6.74	3.03	3.65	1.10	2.41	2.25	-0.53
Changes in Operating Assets and Liabilities, net	-4.36	6.03	16	-10	-8.09	-2.93	10	-8.72	1.51	-18
Net Cash From Investing Activities	6.99	7.04	-2.55	-3.43	-2.56	-3.48	-3.08	-2.28	-1.97	-1.98
Net Cash From Continuing Investing Activities	6.99	7.04	-2.55	-3.43	-2.56	-3.48	-3.08	-2.28	-1.97	-1.98
Purchase of Property, Plant & Equipment	-1.51	-2.45	-3.07	-3.42	-2.54	-3.45	-3.05	-2.28	-1.95	-1.97
Acquisitions	-0.00	-0.01	-1.81	-0.01	-0.02	-0.03	-0.04	-0.00	-0.01	-0.01
Net Cash From Financing Activities	-0.36	-0.51	-1.10	-0.45	-4.32	-26	-1.80	-0.24	-0.80	-2.41
Net Cash From Continuing Financing Activities	-0.36	-0.51	-1.10	-0.45	-4.32	-26	-1.80	-0.24	-0.80	-2.41
Repurchase of Common Equity	-	-	-	-	-	-26	-	-	-	-0.00
Other Financing Activities, net	-0.36	-0.51	-1.10	-0.45	-0.79	-0.60	-1.80	-0.24	-0.80	-2.41
Other Net Changes in Cash	-	-	0.57	-	-	-	-	-	-	-2.53

This table presents OneSpan's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	335	289	339
Total Current Assets	198	146	175
Cash & Equivalents	96	43	83
Restricted Cash	1.21	0.53	0.17
Accounts Receivable	65	64	56
Inventories, net	12	16	11
Prepaid Expenses	6.22	6.58	6.55
Other Current Assets	15	16	18
Plant, Property, & Equipment, net	13	19	21
Total Noncurrent Assets	124	124	143
Goodwill	91	94	92
Intangible Assets	12	11	7.48
Noncurrent Deferred & Refundable Income Taxes	1.90	1.72	21
Other Noncurrent Operating Assets	19	18	22
Total Liabilities & Shareholders' Equity	335	289	339
Total Liabilities	132	130	126
Total Current Liabilities	111	115	110
Accounts Payable	17	17	13
Accrued Expenses	7.66	11	6.34
Dividends Payable	-	0.00	4.77
Current Deferred Revenue	65	69	67
Current Deferred & Payable Income Tax Liabilities	2.44	2.65	4.40
Current Employee Benefit Liabilities	19	15	14
Total Noncurrent Liabilities	21	15	16
Capital Lease Obligations	8.44	6.82	6.93
Noncurrent Deferred Revenue	8.83	4.15	3.39
Noncurrent Deferred & Payable Income Tax Liabilities	1.20	1.07	3.68
Other Noncurrent Operating Liabilities	2.48	3.18	1.93
Commitments & Contingencies	-	0.00	0.00
Total Equity & Noncontrolling Interests	203	159	213
Total Preferred & Common Equity	203	159	213
Preferred Stock	0.00	0.00	0.00
Total Common Equity	203	159	213
Common Stock	107	119	123
Retained Earnings	129	99	151
Treasury Stock	-18	-47	-47
Accumulated Other Comprehensive Income / (Loss)	-15	-11	-14

This table presents OneSpan's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	300	317	299	283	277	287	289
Total Current Assets	167	176	160	146	134	144	142
Cash & Equivalents	82	107	83	68	64	64	77
Restricted Cash	-	1.02	0.99	0.79	1.02	0.46	0.35
Accounts Receivable	44	32	38	39	32	44	29
Inventories, net	9.47	16	15	15	15	13	13
Prepaid Expenses	5.90	7.94	7.91	7.32	6.84	6.13	6.70
Other Current Assets	15	13	15	15	15	17	15
Plant, Property, & Equipment, net	11	15	16	17	20	20	21
Total Noncurrent Assets	121	126	123	120	123	123	127
Goodwill	86	92	93	91	93	93	96
Intangible Assets	13	13	13	12	10	8.68	8.12
Noncurrent Deferred & Refundable Income Taxes	3.36	1.92	1.89	1.84	1.68	1.69	1.77
Other Noncurrent Operating Assets	19	18	15	15	18	19	21
Total Liabilities & Shareholders' Equity	300	317	299	283	277	287	289
Total Liabilities	105	118	112	105	106	108	95
Total Current Liabilities	78	97	97	91	92	94	80
Accounts Payable	9.82	17	18	17	12	15	13
Accrued Expenses	7.09	9.31	8.49	8.12	7.78	8.12	5.90
Current Deferred Revenue	44	54	52	51	56	56	48
Current Deferred & Payable Income Tax Liabilities	1.59	1.93	2.37	2.18	4.54	2.52	3.16
Current Employee Benefit Liabilities	15	14	16	14	12	13	9.68
Total Noncurrent Liabilities	27	21	15	14	14	15	14
Capital Lease Obligations	8.52	-	5.54	5.29	6.01	7.00	7.43
Noncurrent Deferred Revenue	9.62	8.28	4.91	4.57	3.92	3.37	2.93
Noncurrent Deferred & Payable Income Tax Liabilities	1.89	1.21	1.24	1.22	1.00	0.99	1.10
Other Noncurrent Operating Liabilities	7.00	12	3.05	2.96	3.18	3.21	2.78
Commitments & Contingencies	-	-	-	-	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	195	199	187	177	171	179	195
Total Preferred & Common Equity	195	199	187	177	171	179	195
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	195	199	187	177	171	179	195
Common Stock	105	110	114	115	119	120	122
Retained Earnings	132	120	103	98	112	119	127
Treasury Stock	-18	-18	-18	-22	-47	-47	-47
Accumulated Other Comprehensive Income / (Loss)	-23	-13	-12	-15	-13	-13	-7.41

This table displays calculated financial ratios and metrics derived from OneSpan's official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	2.11%	7.35%	3.43%
EBITDA Growth	69.67%	-338.99%	331.39%
EBIT Growth	53.00%	-139.28%	251.96%
NOPAT Growth	-3.78%	-6.48%	372.23%
Net Income Growth	52.81%	-106.45%	291.56%
EPS Growth	53.25%	-105.56%	297.30%
Operating Cash Flow Growth	-109.80%	-86.40%	618.56%
Free Cash Flow Firm Growth	-165.35%	-214.12%	219.49%
Invested Capital Growth	-7.62%	9.27%	15.08%
Revenue Q/Q Growth	-1.14%	2.76%	-0.72%
EBITDA Q/Q Growth	37.50%	16.48%	30.36%
EBIT Q/Q Growth	24.20%	11.82%	36.85%
NOPAT Q/Q Growth	6.71%	16.79%	88.68%
Net Income Q/Q Growth	42.52%	10.61%	98.65%
EPS Q/Q Growth	42.86%	10.84%	97.30%
Operating Cash Flow Q/Q Growth	51.99%	-81.40%	20.12%
Free Cash Flow Firm Q/Q Growth	-469.41%	-10.07%	99.78%
Invested Capital Q/Q Growth	2.03%	8.04%	13.45%
Profitability Metrics	-	-	-
Gross Margin	67.84%	67.08%	71.79%
EBITDA Margin	-2.38%	-9.75%	21.81%
Operating Margin	-12.38%	-12.28%	18.42%
EBIT Margin	-5.61%	-12.51%	18.37%
Profit (Net Income) Margin	-6.59%	-12.67%	23.47%
Tax Burden Percent	123.44%	109.10%	122.79%
Interest Burden Percent	95.16%	92.89%	104.04%
Effective Tax Rate	0.00%	0.00%	-22.79%
Return on Invested Capital (ROIC)	-16.27%	-17.24%	41.79%
ROIC Less NNEP Spread (ROIC-NNEP)	-21.06%	-2.25%	37.97%
Return on Net Nonoperating Assets (RNNOA)	9.45%	0.79%	-11.07%
Return on Equity (ROE)	-6.82%	-16.44%	30.72%
Cash Return on Invested Capital (CROIC)	-8.35%	-26.09%	27.76%
Operating Return on Assets (OROA)	-3.63%	-9.42%	14.23%
Return on Assets (ROA)	-4.26%	-9.55%	18.18%
Return on Common Equity (ROCE)	-6.82%	-16.44%	30.72%
Return on Equity Simple (ROE_SIMPLE)	-7.10%	-18.72%	26.86%
Net Operating Profit after Tax (NOPAT)	-19	-20	55
NOPAT Margin	-8.67%	-8.60%	22.62%
Net Nonoperating Expense Percent (NNEP)	4.79%	-14.99%	3.81%
Return On Investment Capital (ROIC_SIMPLE)	-8.96%	-12.18%	25.07%
Cost of Revenue to Revenue	32.16%	32.92%	28.21%
SG&A Expenses to Revenue	25.37%	24.78%	18.92%
R&D to Revenue	19.06%	16.34%	13.33%
Operating Expenses to Revenue	80.22%	79.36%	53.36%
Earnings before Interest and Taxes (EBIT)	-12	-29	45
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-5.22	-23	53
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	2.17	2.67	3.29
Price to Tangible Book Value (P/TBV)	4.40	7.78	6.21
Price to Revenue (P/Rev)	2.01	1.81	2.88
Price to Earnings (P/E)	0.00	0.00	12.26
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	8.15%
Enterprise Value to Invested Capital (EV/IC)	3.12	3.17	4.43
Enterprise Value to Revenue (EV/Rev)	1.60	1.65	2.56
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	11.76
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	13.96
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	11.34
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	11.20
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	17.06
Leverage & Solvency	-	-	-
Debt to Equity	0.04	0.04	0.03
Long-Term Debt to Equity	0.04	0.04	0.03
Financial Leverage	-0.45	-0.35	-0.29
Leverage Ratio	1.60	1.72	1.69
Compound Leverage Factor	1.52	1.60	1.76
Debt to Total Capital	3.99%	4.11%	3.16%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	3.99%	4.11%	3.16%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	96.01%	95.89%	96.84%
Debt to EBITDA	-1.62	-0.30	0.13
Net Debt to EBITDA	17.48	1.60	-1.44
Long-Term Debt to EBITDA	-1.62	-0.30	0.13
Debt to NOPAT	-0.44	-0.34	0.13
Net Debt to NOPAT	4.81	1.82	-1.39
Long-Term Debt to NOPAT	-0.44	-0.34	0.13
Altman Z-Score	3.39	3.05	5.34
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	1.79	1.27	1.59
Quick Ratio	1.48	0.94	1.26
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-9.74	-31	37
Operating Cash Flow to CapEx	-115.27%	-85.99%	602.13%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00
Efficiency Ratios	-	-	-
Asset Turnover	0.65	0.75	0.77
Accounts Receivable Turnover	3.60	3.63	4.03
Inventory Turnover	6.29	5.61	5.21
Fixed Asset Turnover	18.69	14.97	12.25
Accounts Payable Turnover	5.51	4.45	4.46
Days Sales Outstanding (DSO)	101.45	100.54	90.52
Days Inventory Outstanding (DIO)	58.04	65.10	70.08
Days Payable Outstanding (DPO)	66.23	82.09	81.83
Cash Conversion Cycle (CCC)	93.26	83.56	78.77
Capital & Investment Metrics	-	-	-
Invested Capital	112	122	141
Invested Capital Turnover	1.88	2.01	1.85
Increase / (Decrease) in Invested Capital	-9.24	10	18
Enterprise Value (EV)	350	388	624
Market Capitalization	441	425	700
Book Value per Share	$5.13	$3.99	$5.59
Tangible Book Value per Share	$2.53	$1.37	$2.97
Total Capital	212	166	219
Total Debt	8.44	6.82	6.93
Total Long-Term Debt	8.44	6.82	6.93
Net Debt	-91	-37	-76
Capital Expenditures (CapEx)	5.00	12	9.25
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-12	-12	-19
Debt-free Net Working Capital (DFNWC)	88	32	65
Net Working Capital (NWC)	88	32	65
Net Nonoperating Expense (NNE)	-4.55	9.59	-2.07
Net Nonoperating Obligations (NNO)	-91	-37	-72
Total Depreciation and Amortization (D&A)	7.07	6.48	8.36
Debt-free, Cash-free Net Working Capital to Revenue	-5.54%	-5.11%	-7.62%
Debt-free Net Working Capital to Revenue	39.99%	13.40%	26.64%
Net Working Capital to Revenue	39.99%	13.40%	26.64%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($0.36)	($0.74)	$1.49
Adjusted Weighted Average Basic Shares Outstanding	40.14M	40.19M	38.39M
Adjusted Diluted Earnings per Share	($0.36)	($0.74)	$1.46
Adjusted Weighted Average Diluted Shares Outstanding	40.14M	40.19M	39.09M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	40.00M	37.79M	38.18M
Normalized Net Operating Profit after Tax (NOPAT)	-9.66	-8.09	34
Normalized NOPAT Margin	-4.41%	-3.44%	14.18%
Pre Tax Income Margin	-5.34%	-11.62%	19.12%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	-39.64%	-97.84%	0.01%

This table displays calculated financial ratios and metrics derived from OneSpan's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.32%	-4.28%	9.84%	5.57%	2.96%	11.14%	12.56%	9.31%	-4.41%	-2.79%
EBITDA Growth	-1,253.26%	65.86%	-180.59%	-132.80%	46.38%	278.45%	340.59%	161.85%	509.81%	426.29%
EBIT Growth	-291.23%	56.68%	-227.58%	-98.98%	34.50%	131.44%	276.27%	144.93%	310.25%	1,275.82%
NOPAT Growth	-179.02%	32.72%	24.58%	-115.63%	14.77%	121.03%	330.26%	147.41%	378.48%	4,155.61%
Net Income Growth	-638.56%	77.51%	-260.26%	-89.85%	42.61%	114.24%	261.18%	136.92%	300.17%	6,427.89%
EPS Growth	-800.00%	77.14%	-261.54%	-91.30%	44.44%	112.50%	266.67%	138.64%	310.00%	7,200.00%
Operating Cash Flow Growth	57.33%	370.31%	261.67%	-31.34%	-210.98%	-60.82%	103.67%	111.73%	287.69%	300.45%
Free Cash Flow Firm Growth	-23.15%	-77.83%	127.97%	-197.47%	-136.03%	-252.21%	-138.91%	93.92%	77.91%	167.89%
Invested Capital Growth	-17.31%	-7.62%	-20.68%	0.00%	3.19%	9.27%	22.01%	12.24%	9.58%	15.08%
Revenue Q/Q Growth	8.25%	-0.92%	1.74%	-3.25%	5.57%	6.95%	3.04%	-6.04%	-7.69%	8.76%
EBITDA Q/Q Growth	26.34%	68.36%	-321.86%	-136.74%	83.03%	205.31%	468.77%	-39.14%	12.43%	35.24%
EBIT Q/Q Growth	23.93%	55.77%	-172.42%	-117.07%	74.96%	121.23%	1,427.15%	-44.67%	17.18%	38.95%
NOPAT Q/Q Growth	31.72%	28.73%	-102.79%	-118.50%	73.01%	117.58%	2,120.80%	-55.01%	58.52%	168.70%
Net Income Q/Q Growth	22.98%	56.99%	-169.81%	-112.43%	76.72%	110.67%	2,953.97%	-51.34%	26.25%	247.98%
EPS Q/Q Growth	21.74%	55.56%	-162.50%	-109.52%	77.27%	110.00%	3,400.00%	-51.43%	23.53%	247.62%
Operating Cash Flow Q/Q Growth	83.97%	430.69%	67.13%	-248.27%	62.05%	141.66%	768.84%	-91.46%	507.25%	-11.11%
Free Cash Flow Firm Q/Q Growth	-84.59%	-66.21%	183.48%	-760.54%	94.31%	-42.73%	27.53%	-3.25%	79.32%	538.69%
Invested Capital Q/Q Growth	0.00%	2.03%	-18.08%	17.71%	4.88%	8.04%	-8.53%	8.29%	2.40%	13.45%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	67.25%	67.03%	68.20%	61.53%	69.12%	69.07%	73.09%	66.22%	73.87%	74.04%
EBITDA Margin	-8.98%	-2.87%	-11.89%	-29.10%	-4.68%	4.61%	25.42%	16.46%	20.05%	24.93%
Operating Margin	-9.84%	-7.08%	-14.11%	-31.87%	-8.15%	2.89%	21.76%	12.54%	20.01%	19.30%
EBIT Margin	-11.86%	-5.30%	-14.18%	-31.82%	-7.55%	1.50%	22.21%	13.08%	16.60%	21.21%
Profit (Net Income) Margin	-12.60%	-5.47%	-14.51%	-31.85%	-7.02%	0.70%	20.77%	10.76%	14.71%	47.06%
Tax Burden Percent	109.09%	119.07%	108.99%	103.50%	107.24%	32.47%	92.87%	77.19%	83.05%	212.69%
Interest Burden Percent	97.36%	86.73%	93.84%	96.70%	86.78%	144.01%	100.70%	106.54%	106.68%	104.32%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	67.53%	7.13%	22.81%	16.95%	-112.69%
Return on Invested Capital (ROIC)	-12.58%	-9.30%	-21.34%	-93.79%	-11.70%	1.88%	48.06%	20.89%	34.27%	75.82%
ROIC Less NNEP Spread (ROIC-NNEP)	-9.01%	-9.00%	-18.63%	-80.25%	-10.65%	2.11%	47.63%	19.92%	35.87%	69.03%
Return on Net Nonoperating Assets (RNNOA)	3.87%	4.04%	9.05%	33.78%	4.27%	-0.75%	-21.41%	-7.41%	-12.96%	-20.12%
Return on Equity (ROE)	-8.71%	-5.27%	-12.29%	-60.01%	-7.43%	1.13%	26.65%	13.48%	21.31%	55.70%
Cash Return on Invested Capital (CROIC)	2.17%	-8.35%	5.52%	-246.03%	-24.91%	-26.09%	-24.38%	1.51%	15.41%	27.76%
Operating Return on Assets (OROA)	-8.20%	-3.43%	-10.11%	-24.20%	-5.93%	1.13%	18.11%	11.06%	14.22%	16.43%
Return on Assets (ROA)	-8.71%	-3.54%	-10.34%	-24.22%	-5.52%	0.53%	16.94%	9.09%	12.60%	36.45%
Return on Common Equity (ROCE)	-8.71%	-5.27%	-12.29%	-60.01%	-7.43%	1.13%	26.65%	13.48%	21.31%	55.70%
Return on Equity Simple (ROE_SIMPLE)	-12.88%	0.00%	-14.05%	-19.51%	-18.80%	0.00%	-4.67%	9.14%	14.77%	0.00%
Net Operating Profit after Tax (NOPAT)	-3.94	-2.81	-5.69	-12	-3.36	0.59	13	5.90	9.35	25
NOPAT Margin	-6.89%	-4.96%	-9.88%	-22.31%	-5.70%	0.94%	20.21%	9.68%	16.62%	41.05%
Net Nonoperating Expense Percent (NNEP)	-3.57%	-0.31%	-2.72%	-13.54%	-1.04%	-0.23%	0.44%	0.97%	-1.60%	6.79%
Return On Investment Capital (ROIC_SIMPLE)	-	-1.33%	-	-	-	0.36%	-	-	-	11.44%
Cost of Revenue to Revenue	32.75%	32.97%	31.80%	38.47%	30.88%	30.93%	26.91%	33.78%	26.13%	25.96%
SG&A Expenses to Revenue	20.67%	28.26%	28.91%	28.40%	19.65%	22.61%	15.43%	18.97%	20.17%	21.42%
R&D to Revenue	16.70%	14.37%	16.43%	18.10%	17.22%	13.88%	12.74%	13.69%	13.39%	13.55%
Operating Expenses to Revenue	77.09%	74.11%	82.31%	93.41%	77.27%	66.19%	51.33%	53.68%	53.87%	54.74%
Earnings before Interest and Taxes (EBIT)	-6.78	-3.00	-8.17	-18	-4.44	0.94	14	7.97	9.34	13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-5.13	-1.62	-6.85	-16	-2.75	2.90	16	10	11	15
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.75	2.17	3.51	3.18	2.42	2.67	2.57	2.72	3.24	3.29
Price to Tangible Book Value (P/TBV)	3.56	4.40	7.47	7.35	5.80	7.78	6.50	6.32	6.99	6.21
Price to Revenue (P/Rev)	1.54	2.01	3.12	2.61	1.88	1.81	1.81	1.96	2.58	2.88
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	29.71	21.97	12.26
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.37%	4.55%	8.15%
Enterprise Value to Invested Capital (EV/IC)	2.33	3.12	6.45	4.76	3.23	3.17	3.40	3.53	4.52	4.43
Enterprise Value to Revenue (EV/Rev)	1.15	1.60	2.64	2.26	1.60	1.65	1.57	1.73	2.29	2.56
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	928.35	16.05	13.79	11.76
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	22.67	17.18	13.96
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	28.61	19.24	11.34
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	155.18	0.00	0.00	0.00	127.38	17.17	12.10	11.20
Enterprise Value to Free Cash Flow (EV/FCFF)	97.03	0.00	103.39	0.00	0.00	0.00	0.00	247.24	30.65	17.06
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.04	0.04	0.00	0.03	0.03	0.04	0.04	0.04	0.04	0.03
Long-Term Debt to Equity	0.04	0.04	0.00	0.03	0.03	0.04	0.04	0.04	0.04	0.03
Financial Leverage	-0.43	-0.45	-0.49	-0.42	-0.40	-0.35	-0.45	-0.37	-0.36	-0.29
Leverage Ratio	1.51	1.60	1.56	1.60	1.56	1.72	1.61	1.60	1.54	1.69
Compound Leverage Factor	1.47	1.39	1.46	1.55	1.36	2.48	1.62	1.71	1.64	1.76
Debt to Total Capital	4.19%	3.99%	0.00%	2.88%	2.90%	4.11%	3.40%	3.77%	3.68%	3.16%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	4.19%	3.99%	0.00%	2.88%	2.90%	4.11%	3.40%	3.77%	3.68%	3.16%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	95.81%	96.01%	100.00%	97.12%	97.10%	95.89%	96.60%	96.23%	96.32%	96.84%
Debt to EBITDA	-1.02	-1.62	0.00	-0.19	-0.19	-0.30	14.65	0.26	0.18	0.13
Net Debt to EBITDA	10.19	17.48	0.00	2.63	2.33	1.60	-143.59	-2.15	-1.73	-1.44
Long-Term Debt to EBITDA	-1.02	-1.62	0.00	-0.19	-0.19	-0.30	14.65	0.26	0.18	0.13
Debt to NOPAT	-0.42	-0.44	0.00	-0.22	-0.22	-0.34	-1.29	0.47	0.25	0.13
Net Debt to NOPAT	4.18	4.81	0.00	3.16	2.63	1.82	12.68	-3.83	-2.41	-1.39
Long-Term Debt to NOPAT	-0.42	-0.44	0.00	-0.22	-0.22	-0.34	-1.29	0.47	0.25	0.13
Altman Z-Score	3.60	3.48	5.01	4.47	3.92	3.39	4.28	4.43	5.82	5.03
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.16	1.79	1.82	1.64	1.60	1.27	1.46	1.54	1.76	1.59
Quick Ratio	1.77	1.48	1.43	1.25	1.17	0.94	1.04	1.15	1.32	1.26
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	19	6.43	18	-120	-6.86	-9.79	-7.10	-7.33	-1.52	6.65
Operating Cash Flow to CapEx	-158.82%	323.40%	431.31%	-573.55%	-292.77%	89.97%	885.39%	101.14%	716.14%	630.12%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.69	0.65	0.71	0.76	0.79	0.75	0.82	0.85	0.86	0.77
Accounts Receivable Turnover	5.01	3.60	6.21	5.95	5.55	3.63	7.50	6.04	7.26	4.03
Inventory Turnover	6.94	6.29	5.69	5.14	6.15	5.61	5.06	5.50	5.07	5.21
Fixed Asset Turnover	20.36	18.69	17.77	14.56	16.75	14.97	13.68	13.81	13.11	12.25
Accounts Payable Turnover	8.30	5.51	5.53	4.38	5.81	4.45	5.20	4.70	4.84	4.46
Days Sales Outstanding (DSO)	72.90	101.45	58.74	61.32	65.73	100.54	48.70	60.42	50.30	90.52
Days Inventory Outstanding (DIO)	52.63	58.04	64.10	70.99	59.38	65.10	72.11	66.36	71.99	70.08
Days Payable Outstanding (DPO)	43.99	66.23	65.95	83.30	62.81	82.09	70.13	77.66	75.38	81.83
Cash Conversion Cycle (CCC)	81.53	93.26	56.90	49.01	62.30	83.56	50.68	49.11	46.91	78.77
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	110	112	92	108	113	122	112	121	124	141
Invested Capital Turnover	1.83	1.88	2.16	4.20	2.05	2.01	2.38	2.16	2.06	1.85
Increase / (Decrease) in Invested Capital	-23	-9.24	-24	108	3.51	10	20	13	11	18
Enterprise Value (EV)	256	350	592	514	366	388	381	428	561	624
Market Capitalization	341	441	700	593	430	425	439	485	631	700
Book Value per Share	$4.92	$5.13	$4.98	$4.67	$4.44	$3.99	$4.52	$4.72	$5.14	$5.59
Tangible Book Value per Share	$2.42	$2.53	$2.34	$2.02	$1.85	$1.37	$1.79	$2.03	$2.39	$2.97
Total Capital	203	212	199	192	183	166	177	186	202	219
Total Debt	8.52	8.44	0.00	5.54	5.29	6.82	6.01	7.00	7.43	6.93
Total Long-Term Debt	8.52	8.44	0.00	5.54	5.29	6.82	6.01	7.00	7.43	6.93
Net Debt	-85	-91	-108	-79	-64	-37	-59	-57	-70	-76
Capital Expenditures (CapEx)	1.51	2.45	3.07	3.42	2.54	3.45	3.05	2.28	1.95	1.97
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-3.79	-12	-28	-21	-15	-12	-23	-14	-16	-19
Debt-free Net Working Capital (DFNWC)	90	88	79	63	55	32	42	50	61	65
Net Working Capital (NWC)	90	88	79	63	55	32	42	50	61	65
Net Nonoperating Expense (NNE)	3.26	0.29	2.67	5.32	0.78	0.15	-0.36	-0.66	1.07	-3.68
Net Nonoperating Obligations (NNO)	-85	-91	-108	-79	-64	-37	-59	-57	-70	-72
Total Depreciation and Amortization (D&A)	1.65	1.38	1.32	1.52	1.69	1.96	2.08	2.06	1.94	2.28
Debt-free, Cash-free Net Working Capital to Revenue	-1.71%	-5.54%	-12.59%	-9.44%	-6.36%	-5.11%	-9.44%	-5.71%	-6.70%	-7.62%
Debt-free Net Working Capital to Revenue	40.55%	39.99%	35.38%	27.58%	23.92%	13.40%	17.33%	20.27%	25.08%	26.64%
Net Working Capital to Revenue	40.55%	39.99%	35.38%	27.58%	23.92%	13.40%	17.33%	20.27%	25.08%	26.64%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.18)	($0.08)	($0.21)	($0.44)	($0.10)	$0.01	$0.35	$0.17	$0.21	$0.76
Adjusted Weighted Average Basic Shares Outstanding	39.72M	40.14M	40.06M	40.40M	40.45M	40.19M	38.06M	38.53M	38.70M	38.39M
Adjusted Diluted Earnings per Share	($0.18)	($0.08)	($0.21)	($0.44)	($0.10)	$0.01	$0.35	$0.17	$0.21	$0.73
Adjusted Weighted Average Diluted Shares Outstanding	39.72M	40.14M	40.06M	40.40M	40.45M	40.19M	38.46M	39.01M	39.46M	39.09M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	39.66M	40.00M	39.95M	39.98M	39.89M	37.79M	37.85M	37.87M	37.99M	38.18M
Normalized Net Operating Profit after Tax (NOPAT)	0.60	-1.77	-5.20	-8.34	1.21	4.24	14	7.22	9.92	8.64
Normalized NOPAT Margin	1.05%	-3.12%	-9.02%	-14.97%	2.06%	6.73%	22.35%	11.84%	17.65%	14.13%
Pre Tax Income Margin	-11.55%	-4.59%	-13.31%	-30.77%	-6.55%	2.16%	22.36%	13.93%	17.71%	22.13%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-22.78%	-39.64%	0.00%	0.00%	-10.58%	-97.84%	0.00%	0.00%	89.19%	0.01%

Frequently Asked Questions About OneSpan's Financials

When does OneSpan's financial year end?

According to the most recent income statement we have on file, OneSpan's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has OneSpan's net income changed over the last 2 years?

OneSpan's net income appears to be on an upward trend, with a most recent value of $57.08 million in 2024, falling from -$14.43 million in 2022. The previous period was -$29.80 million in 2023.

What is OneSpan's operating income?

OneSpan's total operating income in 2024 was $44.81 million, based on the following breakdown:

Total Gross Profit: $174.58 million
Total Operating Expenses: $129.77 million

How has OneSpan revenue changed over the last 2 years?

Over the last 2 years, OneSpan's total revenue changed from $219.01 million in 2022 to $243.18 million in 2024, a change of 11.0%.

How much debt does OneSpan have?

OneSpan's total liabilities were at $126.20 million at the end of 2024, a 3.0% decrease from 2023, and a 4.2% decrease since 2022.

How much cash does OneSpan have?

In the past 2 years, OneSpan's cash and equivalents has ranged from $43.00 million in 2023 to $96.17 million in 2022, and is currently $83.16 million as of their latest financial filing in 2024.

How has OneSpan's book value per share changed over the last 2 years?

Over the last 2 years, OneSpan's book value per share changed from 5.13 in 2022 to 5.59 in 2024, a change of 9.1%.

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This page (NASDAQ:OSPN) was last updated on 4/24/2025 by MarketBeat.com Staff

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OneSpan (OSPN) Financials

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OneSpan (OSPN) Financials

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