Filing Flows › OneSpan (OSPN) › Q2 2025
OneSpan (OSPN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
OneSpan (OSPN) reported revenue of $59.8M for the second quarter 2025 (Q2 2025), -2% from a year earlier and -6% from the quarter before. Operating margin was 17.6%, net earnings $8.3M (13.9% of revenue).
OneSpan, Q2 2025: revenue $59.8M (-2% year over year), operating margin 17.6%, net earnings $8.3M, operating cash flow $6.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $59.8M | -6% | -2% |
| Gross profit | $44.0M | -7% | +9% |
| Operating profit | $10.5M | -39% | +38% |
| Net earnings | $8.3M | -42% | +27% |
| Operating cash flow | $6.2M | -79% | +170% |
| Free cash flow | $4.4M | -84% | 168× |
What changed
Revenue was $59.8M in Q2 2025, down 2% year over year and down 6% from the previous quarter. Subscription was the largest line at 60% of revenue. Hardware products lost $5.7M year over year (down 29%), 529% of the total change.
Gross margin was 73.5%, up 7.3 points from a year earlier. Operating profit was $10.5M, a 17.6% margin (up 5.0 points year over year). Operating expenses grew 2% against a revenue fall of 2%. The fastest-growing cost line was Research & development (+13%). Net earnings were $8.3M, up 27% year over year. The effective tax rate was 21.1%.
Operating cash flow was $6.2M (up 170% year over year), 75% of net earnings. Non-cash charges added back $2.5M of depreciation and amortization and $3.5M of share-based compensation. Working capital and other items used $8.0M. Capital expenditures of $1.9M left free cash flow of $4.4M.
Questions
What was OneSpan's revenue in the second quarter 2025?
OneSpan (OSPN) reported revenue of $59.8M for the second quarter 2025 (Q2 2025), -2% from a year earlier and -6% from the quarter before.
Was OneSpan profitable in the second quarter 2025?
Operating profit was $10.5M (17.6% of revenue) and net earnings $8.3M.
Source: OneSpan 10-Q on SEC EDGAR.