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OneSpan (OSPN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · OneSpan (OSPN) Q3 2026 earnings results →
Q3 2026 Revenue up 12% year over year to $63.9M · 12¢ of every $1 of revenue kept as net profit · operating margin 14.5%
OneSpan made $63.9M in Q3 2026 (+12% Y/Y): Subscription $51.5M, Hardware products $10.5M, Perpetual maintenance and services $1.9M. Operating margin 14.5%, net earnings $7.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $63.9M in Q3 2026, up 12% year over year and up 6% from the previous quarter. Subscription was the largest line at 81% of revenue. Subscription added $7.1M year over year (up 16%), 104% of the total change. Perpetual maintenance and services declined 34%.
Gross margin was 76.3%, up 2.7 points from Q3 2025. Operating profit was $9.2M, a 14.5% margin (unchanged year over year). Of the extra revenue versus Q3 2025, 15% reached operating profit, above the 14% margin then. Operating expenses grew 17% against revenue growth of 12%. The fastest-growing cost line was Sales & marketing (+23%). Net earnings were $7.8M, up 20% year over year. The effective tax rate was 17.5%.
Operating cash flow was $16.5M (up 46% year over year), 212% of net earnings. Non-cash charges added back $3.4M of depreciation and amortization and $5.5M of share-based compensation. Capital expenditures of $3.2M left free cash flow of $13.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $63.9M | +12% | 14.5% | $7.8M | $16.5M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $60.5M | +1% | 14.5% | $6.8M | −$103K |
| Q1 2026 | 10-Q | Apr 30, 2026 | $65.9M | +4% | 22.5% | $11.6M | $28.2M |
| Q4 2025 | 10-K | Feb 26, 2026 | $62.9M | +3% | 19.9% | $43.5M | $12.6M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $57.1M | +1% | 14.4% | $6.5M | $11.3M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $59.8M | -2% | 17.6% | $8.3M | $6.2M |
| Q1 2025 | 10-Q | May 1, 2025 | $63.4M | -2% | 27.1% | $14.5M | $29.4M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About OneSpan
OneSpan helps organizations build secure, seamless, and trusted digital experiences through two solution portfolios: Cybersecurity and Digital Agreements. Our cybersecurity solutions protect identities, secure mobile apps, and safeguard access through advanced high-assurance authentication, threat intelligence, fraud prevention, and robust mobile app protection, defending users, devices, and applications against sophisticated attacks. Our digital agreement solutions streamline agreement workflows with secure e-signatures, identity verification, and smart digital forms, built to enable speed, compliance and exceptional customer experiences. Trusted by leading global enterprises, including more than 60% of the world’s 100 largest banks, OneSpan processes over 100 million digital agreements and billions of secure authentication transactions across more than 120 countries each year.
In its own words, from its 8-K, filed Aug 4, 2026.
OneSpan against its Services-Computer Integrated Systems Design peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +12% against the peers' median +4%. Operating margin: 14.5% against the peers' median 11.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| OSPN OneSpan | Q3 2026 | $63.9M | +12% | 14.5% |
| LDOS Leidos Holdings | Q3 2026 | $4.6B | +4% | 11.9% |
| KD Kyndryl Holdings | Q2 FY27 | $3.7B | -2% | 3.1% |
| CACI CACI International | Q3 2026 | $2.5B | +8% | 10.0% |
| SAIC Science Applications International | Q2 FY27 | $1.9B | +6% | 8.1% |
| PSN Parsons | Q3 2026 | $1.7B | +2% | 6.3% |
| GDDY GoDaddy | Q3 2026 | $1.3B | +6% | 27.0% |
| OTEX Open Text | Q1 FY27 | $1.2B | -4% | 20.3% |
| LAWIL Light & Wonder | Q3 2026 | $824M | -2% | 29.4% |
Source: OneSpan 10-Q on SEC EDGAR · CIK 1044777 · Services-Computer Integrated Systems Design
Guidance and outlook
13F: who owns OSPN and who is buying
More on OSPN
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- OneSpan guidance history: guided vs reported
- OneSpan gross margin by quarter
- OneSpan operating margin by quarter
- OneSpan net income by quarter
- OneSpan free cash flow by quarter
- OneSpan R&D spending by quarter
- OneSpan capital expenditures by quarter
- OneSpan Subscription revenue by quarter
- OneSpan Hardware products revenue by quarter
- OneSpan Perpetual maintenance and services revenue by quarter