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OneSpan Inc (OSPN)



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Upturn Advisory Summary
04/01/2025: OSPN (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -4.09% | Avg. Invested days 31 | 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 592.49M USD | Price to earnings Ratio 10.63 | 1Y Target Price 19.33 |
Price to earnings Ratio 10.63 | 1Y Target Price 19.33 | ||
Volume (30-day avg) 458018 | Beta 0.83 | 52 Weeks Range 9.62 - 20.36 | Updated Date 04/1/2025 |
52 Weeks Range 9.62 - 20.36 | Updated Date 04/1/2025 | ||
Dividends yield (FY) 3.15% | Basic EPS (TTM) 1.46 |
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 2025-03-04 | When After Market | Estimate 0.26 | Actual 0.24 |
Profitability
Profit Margin 23.47% | Operating Margin (TTM) 20.34% |
Management Effectiveness
Return on Assets (TTM) 10.12% | Return on Equity (TTM) 30.72% |
Valuation
Trailing PE 10.63 | Forward PE - | Enterprise Value 518611712 | Price to Sales(TTM) 2.43 |
Enterprise Value 518611712 | Price to Sales(TTM) 2.43 | ||
Enterprise Value to Revenue 2.11 | Enterprise Value to EBITDA 8.92 | Shares Outstanding 38175800 | Shares Floating 35607732 |
Shares Outstanding 38175800 | Shares Floating 35607732 | ||
Percent Insiders 6.7 | Percent Institutions 93.16 |
Analyst Ratings
Rating 4 | Target Price 20 | Buy - | Strong Buy 2 |
Buy - | Strong Buy 2 | ||
Hold 2 | Sell - | Strong Sell - | |
Strong Sell - |
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, it evolved to provide digital identity and anti-fraud solutions for financial institutions and other organizations. Key milestones include acquisitions to expand product offerings and geographical reach.
Core Business Areas
- Digital Agreement Solutions: Provides solutions for secure electronic signatures, document workflow automation, and identity verification, primarily for financial services, insurance, and government sectors.
- Security Solutions: Offers hardware and software authentication tokens, mobile security solutions, and fraud detection tools to protect online and mobile banking transactions, as well as enterprise access.
Leadership and Structure
The leadership team is composed of experienced executives in the cybersecurity and technology industries. The organizational structure is hierarchical, with functional departments reporting to the CEO.
Top Products and Market Share
Key Offerings
- OneSpan Sign: A secure electronic signature and agreement automation platform. It enables businesses to digitally prepare, send, sign, and manage documents. Market share data is fragmented across multiple vendors but OneSpan Sign competes directly with DocuSign, Adobe Sign and smaller niche players. They have roughly 10-15% market share.
- OneSpan Trusted Identity Platform: Offers a comprehensive suite of security solutions, including multi-factor authentication, mobile security, fraud analysis, and secure identity verification. It is used by financial institutions and enterprises to protect digital channels and prevent fraud. Competitors include RSA Security and Thales Group.
- Digipass: OneSpan's Digipass provides multi-factor authentication. OneSpanu2019s Digipass competes directly with Gemalto and Entrust Datacard
Market Dynamics
Industry Overview
The digital identity and security market is experiencing significant growth due to increasing cyber threats, regulatory requirements, and the adoption of digital transformation initiatives. The market is competitive, with a mix of established players and emerging startups.
Positioning
OneSpan is positioned as a provider of secure digital identity and anti-fraud solutions for regulated industries. Its competitive advantages include a strong focus on security, compliance expertise, and a comprehensive product portfolio.
Total Addressable Market (TAM)
The TAM for digital identity and security solutions is expected to reach hundreds of billions of dollars by 2028. OneSpan is positioned to capture a portion of this market through its targeted offerings and industry expertise.
Upturn SWOT Analysis
Strengths
- Strong focus on security and compliance
- Comprehensive product portfolio
- Established relationships with financial institutions
- Experience in regulated industries
Weaknesses
- Limited brand recognition compared to larger competitors
- Dependence on specific industries
- Slower growth compared to some competitors
Opportunities
- Expanding market for digital identity and security solutions
- Increasing demand for anti-fraud technologies
- Growing adoption of cloud-based solutions
- Strategic partnerships and acquisitions
Threats
- Intense competition from larger players
- Evolving cyber threats and security risks
- Changes in regulatory requirements
- Economic downturns
Competitors and Market Share
Key Competitors
- DOCU
- ADBE
- ENTU
Competitive Landscape
OneSpan faces stiff competition from established players with larger market share and brand recognition. Its competitive advantages include a strong focus on security, compliance expertise, and a comprehensive product portfolio.
Major Acquisitions
Promon
- Year: 2021
- Acquisition Price (USD millions): 78
- Strategic Rationale: To enhance OneSpan's mobile security capabilities and provide advanced application shielding technology.
Growth Trajectory and Initiatives
Historical Growth: Historical growth has been moderate, driven by organic expansion and acquisitions. The company has focused on expanding its product portfolio and geographic reach.
Future Projections: Future growth is projected to be driven by the increasing demand for digital identity and security solutions, as well as strategic initiatives to expand into new markets and industries. Analyst estimates vary, but consensus forecasts suggest continued revenue growth.
Recent Initiatives: Recent initiatives include strategic partnerships, product enhancements, and expansion into new geographies.
Summary
OneSpan Inc. provides vital security solutions in a growing digital landscape. While they face strong competition, their focus on security and compliance gives them a competitive edge. Future growth relies on continued innovation and expansion into new markets. OneSpan needs to focus on brand awareness and diversifying revenue streams.
Similar Companies

ADBE

Adobe Systems Incorporated



ADBE

Adobe Systems Incorporated

DOCU

DocuSign Inc



DOCU

DocuSign Inc
Sources and Disclaimers
Data Sources:
- Company filings, Industry reports, Analyst estimates, OneSpan Website
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. Market conditions and company performance can change rapidly.
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 571 | Website https://www.onespan.com |
Full time employees 571 | 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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