Filing Flows › OneSpan (OSPN) › Q1 2026
OneSpan (OSPN) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
OneSpan (OSPN) reported revenue of $65.9M for the first quarter 2026 (Q1 2026), +4% from a year earlier and +5% from the quarter before. Operating margin was 22.5%, net earnings $11.6M (17.5% of revenue).
OneSpan, Q1 2026: revenue $65.9M (+4% year over year), operating margin 22.5%, net earnings $11.6M, operating cash flow $28.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $65.9M | +5% | +4% |
| Gross profit | $48.5M | +5% | +3% |
| Operating profit | $14.8M | +18% | -14% |
| Net earnings | $11.6M | -73% | -20% |
| Operating cash flow | $28.2M | +124% | -4% |
| Free cash flow | $25.1M | +160% | -10% |
What changed
Revenue was $65.9M in Q1 2026, up 4% year over year and up 5% from the previous quarter. Subscription was the largest line at 80% of revenue. Subscription added $4.0M year over year (up 8%), 154% of the total change. Perpetual maintenance and services declined 25%.
Gross margin was 73.6%, down 0.8 points from Q1 2025. Operating profit was $14.8M, a 22.5% margin (down 4.6 points year over year). Operating profit fell $2.4M even though revenue rose $2.6M versus Q1 2025, so costs grew faster than sales. Operating expenses grew 13% against revenue growth of 4%. The fastest-growing cost line was General & admin (+15%). Net earnings were $11.6M, down 20% year over year. The effective tax rate was 19.8%.
Operating cash flow was $28.2M (down 4% year over year), 244% of net earnings. Non-cash charges added back $3.1M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items added $11.6M. Capital expenditures of $3.1M left free cash flow of $25.1M.
Questions
What was OneSpan's revenue in the first quarter 2026?
OneSpan (OSPN) reported revenue of $65.9M for the first quarter 2026 (Q1 2026), +4% from a year earlier and +5% from the quarter before.
Was OneSpan profitable in the first quarter 2026?
Operating profit was $14.8M (22.5% of revenue) and net earnings $11.6M.
Source: OneSpan 10-Q on SEC EDGAR.