Filing Flows › OneSpan (OSPN) › Q2 2026 › vs Q1 2026
OneSpan (OSPN) Q2 2026 vs Q1 2026 (quarter over quarter)
OneSpan's revenue fell $5.5M (-8%) from $65.9M in Q1 2026 to $60.5M in Q2 2026. The biggest changes: Subscription −$6.0M (-11%); Hardware products +$852K (+8%); Perpetual maintenance and services −$375K (-14%). Gross margin 73.6% against 73.6% (+0.0 pts).
OneSpan, Q2 2026: revenue $60.5M (+1% year over year), operating margin 14.5%, net earnings $6.8M, operating cash flow −$103K. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 73.6% | 73.6% | +0.0 pts |
| Operating margin | 14.5% | 22.5% | -8.0 pts |
| Net margin | 11.2% | 17.5% | -6.3 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Subscription | $46.7M | $52.7M | −$6.0M | -11% |
| Hardware products | $11.4M | $10.6M | $852K | +8% |
| Perpetual maintenance and services | $2.3M | $2.7M | −$375K | -14% |
| Revenue | $60.5M | $65.9M | −$5.5M | -8% |
| Gross profit | $44.5M | $48.5M | −$4.0M | -8% |
| Cost of revenue | $16.0M | $17.4M | −$1.4M | -8% |
| Operating profit | $8.7M | $14.8M | −$6.1M | -41% |
| Operating expenses | $35.7M | $33.7M | $2.0M | +6% |
| Pre-tax earnings | $8.6M | $14.4M | −$5.8M | -40% |
| Research & development | $9.9M | $9.1M | $830K | +9% |
| Sales & marketing | $13.1M | $12.7M | $394K | +3% |
| General & admin | $12.0M | $11.0M | $996K | +9% |
| Other operating costs | $807K | $982K | −$175K | -18% |
| Net earnings | $6.8M | $11.6M | −$4.8M | -41% |
| Income tax | $1.9M | $2.8M | −$994K | -35% |
| Operating cash sources | $13.8M | −$11.6M | $25.4M | — |
| Depreciation & amortization | $3.4M | $3.1M | $302K | +10% |
| Share-based compensation | $3.4M | $1.9M | $1.6M | +83% |
| Cash used in operations | $103K | −$28.2M | $28.3M | — |
| Working capital & other | $13.8M | −$11.6M | $25.4M | — |
Questions
How much did OneSpan's revenue grow quarter over quarter in Q2 2026?
OneSpan's revenue fell $5.5M (-8%) from $65.9M in Q1 2026 to $60.5M in Q2 2026.
What drove OneSpan's revenue change in Q2 2026?
Subscription −$6.0M (-11%); Hardware products +$852K (+8%); Perpetual maintenance and services −$375K (-14%).