Filing Flows › OneSpan (OSPN) › Q1 2025
OneSpan (OSPN) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
OneSpan (OSPN) reported revenue of $63.4M for the first quarter 2025 (Q1 2025), -2% from a year earlier and +4% from the quarter before. Operating margin was 27.1%, net earnings $14.5M (22.9% of revenue).
OneSpan, Q1 2025: revenue $63.4M (-2% year over year), operating margin 27.1%, net earnings $14.5M, operating cash flow $29.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $63.4M | +4% | -2% |
| Gross profit | $47.1M | +4% | -0.6% |
| Operating profit | $17.2M | +46% | +22% |
| Net earnings | $14.5M | -50% | +8% |
| Operating cash flow | $29.4M | +136% | +9% |
| Free cash flow | $27.7M | +165% | +16% |
What changed
Revenue was $63.4M in Q1 2025, down 2% year over year and up 4% from the previous quarter. Subscription was the largest line at 69% of revenue. Maintenance and support lost $2.6M year over year (down 24%), 174% of the total change.
Gross margin was 74.3%, up 1.2 points from a year earlier. Operating profit was $17.2M, a 27.1% margin (up 5.4 points year over year). Operating expenses fell 10% while revenue fell 2%. Net earnings were $14.5M, up 8% year over year. The effective tax rate was 18.8%.
Operating cash flow was $29.4M (up 9% year over year), 202% of net earnings. Non-cash charges added back $2.1M of depreciation and amortization and $2.8M of share-based compensation. Working capital and other items added $10.0M. Capital expenditures of $1.6M left free cash flow of $27.7M.
Questions
What was OneSpan's revenue in the first quarter 2025?
OneSpan (OSPN) reported revenue of $63.4M for the first quarter 2025 (Q1 2025), -2% from a year earlier and +4% from the quarter before.
Was OneSpan profitable in the first quarter 2025?
Operating profit was $17.2M (27.1% of revenue) and net earnings $14.5M.
Source: OneSpan 10-Q on SEC EDGAR.