OneSpan Inc. earnings

OneSpan's fiscal 2026 second quarter told two different stories about the same business. Total revenue rose 1% to $60.5 million from $59.8 million in the prior-year quarter, and subscription revenue climbed 11% to $46.7 million.

OneSpan's fiscal 2026 first quarter showed a split picture. Revenue reached $65.95 million, up 4.1% from the prior-year quarter. Gross profit rose 3.0% to $48.51 million. But operating income fell 13.8% to $14.82 million. Net income dropped 20.3% to $11.56 million. Diluted EPS came in at $0.30, down 18.9%.

OneSpan closed fiscal 2025 with a stronger fourth quarter than the prior-year period. Fourth-quarter revenue rose 2.9% to $62.9 million. Gross profit increased 2.2% to $46.3 million, while operating income improved 6.1% to $12.5 million. Net income jumped 51.3% to $43.5 million.

OneSpan's fiscal 2025 third quarter showed modest top-line growth but weaker profitability. Total revenue was $57.06 million, up 1.4% from the prior-year quarter. Gross profit rose 1.1% to $42.00 million, while gross margin slipped 0.3 percentage points to 73.6%.

OneSpan's second quarter revenue came in at $59.8 million, down 2% from $60.9 million in the same quarter last year. Profit moved in the opposite direction. Gross profit rose 9% to $44.0 million, lifting gross margin to 73.5% from 66.2%.

OneSpan's first quarter of fiscal 2025 showed a familiar pattern. Revenue slipped while profit and cash flow improved. Total revenue was $63.4 million, down 2% from the prior-year quarter. Gross profit was $47.1 million, down 0.6% year over year. Gross margin rose to 74.3% year over year.

OneSpan closed fiscal 2024 with a softer top line and much stronger profitability. Fourth quarter revenue slipped 2.8% to $61.2 million from $62.9 million a year earlier, while gross profit rose 4.2% to $45.3 million. Gross margin climbed to 74.0% from 69.1%, helped by a richer software mix and lower hardware volumes.

OneSpan's FY2024 Q3 revenue decreased 4.4% year over year to $56.2 million. Gross profit rose 2.2% to $41.5 million, and gross margin expanded to 73.9% from 69.1%, up 4.8 percentage points. The quarter swung to an operating profit of $11.3 million from an operating loss in the prior-year quarter.

OneSpan reported second quarter revenue of $60.9 million, up 9.3% from $55.7 million in the prior-year quarter. Growth came from both segments. Digital Agreements revenue rose 30% year over year, helped by existing customer expansions and new logos.

OneSpan started fiscal 2024 with a much stronger profit profile. Total revenue was $64.8 million in the first quarter. Gross profit was $47.4 million, up $8.1 million or 20.6% from the prior-year quarter. Gross margin came in at 73.1%.

OneSpan closed fiscal 2023 with a GAAP profit in the fourth quarter, but the full year still showed widening losses. Fourth-quarter revenue was $62.93 million. Gross profit rose 14.5% to $43.47 million, and gross margin was 69.1%.

OneSpan reported third quarter revenue of $58.8 million, taking nine-month revenue to $172.2 million. The recurring part of the business kept growing faster than the whole. Annual recurring revenue rose 10% to $149.8 million, while the net retention rate slipped to 108% from 109% a year earlier.

OneSpan's fiscal 2023 second quarter showed a business still spending heavily on its transformation while revenue growth remained uneven. Revenue was $55.7 million for the quarter and $113.3 million for the first six months.

OneSpan opened the first quarter of its three-year transformation plan with revenue of $57.6 million, up 9.8% from $52.4 million in the prior-year quarter.

OneSpan closed fiscal 2022 with a mixed print. Full year revenue was $219.0 million. Fourth quarter gross profit was $38.0 million, up 1.3% year over year. Fourth quarter operating loss narrowed to $4.0 million, a 32.7% improvement.

OneSpan reported third quarter revenue of $57.1 million, up 9.3% from $52.3 million in the same quarter last year. Subscription revenue grew 25% year over year. Currency took a large bite out of the top line.

OneSpan reported total revenue of $52.8 million for the quarter ended June 30, 2022, up 1% from the prior-year quarter. Gross profit rose 2% to $35.5 million. Gross margin was 67.3%, up 0.6 percentage points.

OneSpan closed fiscal 2021 with a mixed fourth quarter. Revenue rose 12% year over year to $59.2 million in the fourth quarter, but the full year brought a 1% decline to $214.5 million. The top-line gain did not carry through to profitability.

OneSpan reported third-quarter revenue of $52.3 million, up 1.6% from a year earlier. Recurring revenue grew 38% to $30.5 million, annual recurring revenue rose 24% to $119.0 million, and dollar-based net expansion was 115%.

OneSpan's second quarter of 2021 showed a business still shifting toward recurring revenue while total sales and profitability weakened. Total revenue was $52.3 million, down 5% from the prior-year quarter. For the first six months of 2021, revenue was $103.1 million, down 7%.

OneSpan's first quarter of 2021 showed a business in transition. Total revenue fell 9.9% to $50.8 million from $56.4 million in the prior-year quarter. The drop came from lower perpetual software license and hardware revenue, while recurring revenue kept growing. Recurring revenue rose 12% to $28.9 million.