company background image
OSPN

OneSpan NasdaqCM:OSPN Stock Report

Last Price

US$12.14

Market Cap

US$485.8m

7D

1.2%

1Y

-52.5%

Updated

29 Jun, 2022

Data

Company Financials +
OSPN fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance0/6
Financial Health6/6
Dividends0/6

OSPN Stock Overview

OneSpan Inc., together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity worldwide.

Risk Analysis

No risks detected for OSPN from our risk checks.

OneSpan Competitors

Price History & Performance

Summary of all time highs, changes and price drops for OneSpan
Historical stock prices
Current Share PriceUS$12.14
52 Week HighUS$26.04
52 Week LowUS$10.48
Beta0.61
1 Month Change-9.61%
3 Month Change-15.93%
1 Year Change-52.47%
3 Year Change-11.71%
5 Year Change-14.21%
Change since IPO102.33%

Recent News & Updates

Jun 29

OneSpan Is Undergoing Changes And May Become Interesting In Future Quarters

Falling profits and stock price underperformance triggered a proxy contest. Consequently, OSPN has replaced almost all of its board and most C level positions. In May, it announced a new Strategic Plan. The new management's plan is not particularly striking as innovative, but could improve operational efficiency substantially. OSPN also operates in a very competitive and relatively harsh market. However, the company is trading at a multiple of 11 to historical average R&D capacity (defined below).

Jun 28
Here's Why We're Not At All Concerned With OneSpan's (NASDAQ:OSPN) Cash Burn Situation

Here's Why We're Not At All Concerned With OneSpan's (NASDAQ:OSPN) Cash Burn Situation

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, biotech and mining...

Shareholder Returns

OSPNUS SoftwareUS Market
7D1.2%2.6%1.6%
1Y-52.5%-22.4%-20.8%

Return vs Industry: OSPN underperformed the US Software industry which returned -23.5% over the past year.

Return vs Market: OSPN underperformed the US Market which returned -20.4% over the past year.

Price Volatility

Is OSPN's price volatile compared to industry and market?
OSPN volatility
OSPN Average Weekly Movement8.4%
Software Industry Average Movement11.0%
Market Average Movement8.1%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.2%

Stable Share Price: OSPN is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: OSPN's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1991866Matt Moynahanhttps://www.onespan.com

OneSpan Inc., together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity worldwide. The company offers OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Cloud Authentication, a cloud-based multifactor authentication solution that supports a range of authentication options, including biometrics, push notification, and visual cryptograms for transaction data signing, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services. It also provides Mobile Security Suite, a software development kit; Mobile Authenticator Studio, a mobile authenticator that operates as a discrete mobile application; and authentication servers, which enables customers to administer a high level of access control.

OneSpan Fundamentals Summary

How do OneSpan's earnings and revenue compare to its market cap?
OSPN fundamental statistics
Market CapUS$485.77m
Earnings (TTM)-US$16.22m
Revenue (TTM)US$216.15m

2.2x

P/S Ratio

-30.0x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
OSPN income statement (TTM)
RevenueUS$216.15m
Cost of RevenueUS$70.78m
Gross ProfitUS$145.37m
Other ExpensesUS$161.59m
Earnings-US$16.22m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.41
Gross Margin67.25%
Net Profit Margin-7.50%
Debt/Equity Ratio0%

How did OSPN perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is OSPN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for OSPN?

Other financial metrics that can be useful for relative valuation.

OSPN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.7x
Enterprise Value/EBITDA-19.6x
PEG Ration/a

Price to Sales Ratio vs Peers

How does OSPN's PS Ratio compare to its peers?

OSPN PS Ratio vs Peers
The above table shows the PS ratio for OSPN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average4.1x
TUFN Tufin Software Technologies
4.2x10.2%US$484.3m
TLS Telos
2.3x10.2%US$550.5m
IRNT IronNet
8x41.0%US$221.5m
SCWX SecureWorks
1.8x5.1%US$921.6m
OSPN OneSpan
2.2x4.7%US$485.8m

Price-To-Sales vs Peers: OSPN is good value based on its Price-To-Sales Ratio (2.2x) compared to the peer average (4.1x).


Price to Earnings Ratio vs Industry

How does OSPN's PE Ratio compare vs other companies in the US Software Industry?

Price-To-Sales vs Industry: OSPN is good value based on its Price-To-Sales Ratio (2.2x) compared to the US Software industry average (4.4x)


Price to Sales Ratio vs Fair Ratio

What is OSPN's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

OSPN PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.2x
Fair PS Ratio2.6x

Price-To-Sales vs Fair Ratio: OSPN is good value based on its Price-To-Sales Ratio (2.2x) compared to the estimated Fair Price-To-Sales Ratio (2.6x).


Share Price vs Fair Value

What is the Fair Price of OSPN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: OSPN ($12.14) is trading above our estimate of fair value ($5.49)

Significantly Below Fair Value: OSPN is trading above our estimate of fair value.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate OSPN's PEG Ratio to determine if it is good value.


Discover undervalued companies

Future Growth

How is OneSpan forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


6.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: OSPN is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: OSPN is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: OSPN is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: OSPN's revenue (4.7% per year) is forecast to grow slower than the US market (8.3% per year).

High Growth Revenue: OSPN's revenue (4.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if OSPN's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has OneSpan performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-18.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: OSPN is currently unprofitable.

Growing Profit Margin: OSPN is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: OSPN is unprofitable, and losses have increased over the past 5 years at a rate of 18.3% per year.

Accelerating Growth: Unable to compare OSPN's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: OSPN is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (27.1%).


Return on Equity

High ROE: OSPN has a negative Return on Equity (-7.25%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is OneSpan's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: OSPN's short term assets ($188.7M) exceed its short term liabilities ($80.4M).

Long Term Liabilities: OSPN's short term assets ($188.7M) exceed its long term liabilities ($31.9M).


Debt to Equity History and Analysis

Debt Level: OSPN is debt free.

Reducing Debt: OSPN has not had any debt for past 5 years.

Debt Coverage: OSPN has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: OSPN has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Discover healthy companies

Dividend

What is OneSpan current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate OSPN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate OSPN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if OSPN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if OSPN's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as OSPN has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

0.6yrs

Average management tenure


CEO

Matt Moynahan (51 yo)

0.58

Tenure

US$8,445,582

Compensation

Mr. Matthew P. Moynahan, also known as Matt, had been the Chief Executive Officer of Forcepoint LLC since May 9, 2016. He is Chief Executive Officer and President of OneSpan Inc since November 29, 2021 and...


CEO Compensation Analysis

Compensation vs Market: Matt's total compensation ($USD8.45M) is above average for companies of similar size in the US market ($USD2.81M).

Compensation vs Earnings: Insufficient data to compare Matt's compensation with company performance.


Leadership Team

Experienced Management: OSPN's management team is not considered experienced ( 0.6 years average tenure), which suggests a new team.


Board Members

Experienced Board: OSPN's board of directors are not considered experienced ( 1.6 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: OSPN insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

OneSpan Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: OneSpan Inc.
  • Ticker: OSPN
  • Exchange: NasdaqCM
  • Founded: 1991
  • Industry: Systems Software
  • Sector: Software
  • Implied Market Cap: US$485.769m
  • Shares outstanding: 40.01m
  • Website: https://www.onespan.com

Number of Employees


Location

  • OneSpan Inc.
  • 121 West Wacker Drive
  • Suite 2050
  • Chicago
  • Illinois
  • 60601
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/29 00:00
End of Day Share Price2022/06/29 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.