OneSpan Inc. (OSPN) SEC Filings & Earnings Calls

Cybersecurity revenue decline of 7% YoY

“Cybersecurity revenue was $40.9 million, a decrease of 7% year-over-year” · word for word

Operating income down 17% YoY

“Operating income decreased 17% year-over-year to $8.7 million” · word for word

Cybersecurity Revenue Decline

“Cybersecurity revenue decreased $3.3 million, or approximately 7%, during the three months ended June 30, 2026, compared to the three months ended June 30, 2025.” · word for word

Cash Burn from Acquisitions

“Net cash used in investing activities was $41.0 million, compared to net cash used in investing activities of $15.5 million for the six months ended June 30, 2025.” · word for word

Foreign Exchange Exposure

“During the three months ended June 30, 2026 and 2025, we generated approximately 76% and 78% of our revenues, respectively, and incurred approximately 57% and 54% of our operating expenses, respectively, outside of the U.S.” · word for word

FX translation risk on revenue and expenses

“Changes in foreign exchange rates, in particular the weakening of the U.S. Dollar relative to the Euro, favorably impacted both total revenue and Cybersecurity revenue by approximately $2.7 million and $2.5 million, respectively.” · word for word

Integration risk from recent acquisitions

“The increase in expense was driven primarily by higher employee compensation costs, which included higher headcount from organic hires and from the two recent Acquisitions.” · word for word

Declining NRR indicates potential customer contraction

“We reported NRR of 105% at March 31, 2026 as compared to 107% at March 31, 2025. The year-over-year change in NRR was primarily due to a decrease in expansion contracts and to a lesser extent, an increase in contracts that reduced in value.” · word for word

China Supply Chain Concentration

“Our Digipass authentication devices are currently assembled at several facilities located in mainland China and one facility in Romania.” · word for word

Hardware Revenue Decline

“Our revenue from Digipass devices declined from 78% of our revenue in 2015 to 20% of our revenue in 2025.” · word for word

Foreign Exchange Exposure

“In 2025, 2024 and 2023, we generated approximately 79%, 83% and 83% of our revenue and incurred approximately 54%, 59% and 58% of our operating expenses outside of the U.S., respectively.” · word for word

Hardware revenue decline from mobile-first trend

“A key factor contributing to this decrease was a reduction in hardware revenues driven by certain customers adopting a 'mobile first' approach” · word for word

Net Retention Rate decline

“We reported NRR of 103% at September 30, 2025 as compared to 106% at September 30, 2024. The year-over-year change in NRR was primarily due to a decrease in expansion contracts and to a lesser extent, an increase in contracts that reduced in value” · word for word

Foreign exchange exposure

“During the three months ended September 30, 2025 and 2024, we generated approximately 75% and 81% of our revenues and incurred approximately 53% and 58% of our operating expenses, respectively, outside of the U.S.” · word for word