Filing Flows › OneSpan (OSPN) › How it makes money
How OneSpan (OSPN) makes money
OneSpan (OSPN) made $63.9M of revenue in the third quarter 2026 (Q3 2026), +12% from a year earlier. Subscription brought in $51.5M (81%); Hardware products brought in $10.5M (16%); Perpetual maintenance and services brought in $1.9M (3%). Of every dollar of revenue, 76¢ was left as gross profit, 14¢ was left as operating profit, 12¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Subscription | $51.5M | 80.6% | +10% | +16% |
| Hardware products | $10.5M | 16.4% | -9% | +7% |
| Perpetual maintenance and services | $1.9M | 3.0% | -16% | -34% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $63.9M | 100.0% |
| Cost of revenue | $15.2M | 23.7% |
| Gross profit | $48.7M | 76.3% |
| Operating expenses | $39.5M | 61.8% |
| Operating profit | $9.2M | 14.5% |
| Income tax | $1.7M | 2.6% |
| Net earnings | $7.8M | 12.2% |
| Operating cash flow | $16.5M | 25.8% |
| Free cash flow | $13.3M | 20.8% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $63.9M | +12% |
| Q2 2026 | $60.5M | +1% |
| Q1 2026 | $65.9M | +4% |
| Q4 2025 | $62.9M | +3% |
| Q3 2025 | $57.1M | +1% |
| Q2 2025 | $59.8M | -2% |
| Q1 2025 | $63.4M | -2% |
From OneSpan's 10-Q filed Oct 29, 2026 (on EDGAR).
Questions
How does OneSpan make money?
OneSpan (OSPN) made $63.9M of revenue in the third quarter 2026 (Q3 2026), +12% from a year earlier. Subscription brought in $51.5M (81%); Hardware products brought in $10.5M (16%); Perpetual maintenance and services brought in $1.9M (3%). Of every dollar of revenue, 76¢ was left as gross profit, 14¢ was left as operating profit, 12¢ was left as net earnings.
What is OneSpan's biggest business?
Subscription: $51.5M in the third quarter 2026, 81% of revenue, +16% from a year earlier.
What is OneSpan's profit margin?
Net earnings were $7.8M, 12.2% of revenue, in the third quarter 2026; the operating margin was 14.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.