Filing Flows › OneSpan (OSPN) › Q4 2025
OneSpan (OSPN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
OneSpan (OSPN) reported revenue of $62.9M for the fourth quarter 2025 (Q4 2025), +3% from a year earlier and +10% from the quarter before. Operating margin was 19.9%, net earnings $43.5M (69.2% of revenue).
OneSpan, Q4 2025: revenue $62.9M (+3% year over year), operating margin 19.9%, net earnings $43.5M, operating cash flow $12.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $62.9M | +10% | +3% |
| Gross profit | $46.3M | +10% | +2% |
| Operating profit | $12.5M | +52% | +6% |
| Net earnings | $43.5M | +568% | +51% |
| Operating cash flow | $12.6M | +11% | +1% |
| Free cash flow | $9.6M | +10% | -8% |
What changed
Revenue was $62.9M in Q4 2025, up 3% year over year and up 10% from the previous quarter. Subscription was the largest line at 61% of revenue.
Gross margin was 73.6%, down 0.5 points from a year earlier. Operating profit was $12.5M, a 19.9% margin (up 0.6 points year over year). Of the extra revenue versus a year earlier, 42% reached operating profit, above the 19% margin then. Operating expenses grew 1% against revenue growth of 3%. The fastest-growing cost line was Sales & marketing (+15%). Net earnings were $43.5M, up 51% year over year. The tax line was a benefit of $31.0M on pre-tax earnings of $12.5M.
Operating cash flow was $12.6M (up 1% year over year), 29% of net earnings. Non-cash charges added back $2.9M of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items used $35.5M. Capital expenditures of $2.9M left free cash flow of $9.6M.
Questions
What was OneSpan's revenue in the fourth quarter 2025?
OneSpan (OSPN) reported revenue of $62.9M for the fourth quarter 2025 (Q4 2025), +3% from a year earlier and +10% from the quarter before.
Was OneSpan profitable in the fourth quarter 2025?
Operating profit was $12.5M (19.9% of revenue) and net earnings $43.5M.
Source: OneSpan 10-K on SEC EDGAR.