OneSpan Inc. (NASDAQ: OSPN)

OneSpan helps organizations build secure seamless and trusted digital experiences through two solution portfolios: Cybersecurity and Digital Agreements. Its cybersecurity solutions protect identities, secure mobile apps, and safeguard access using advanced authentication, threat intelligence, fraud prevention, and mobile app protection. Its digital agreement solutions streamline agreement workflows with secure e signatures, identity verification, and smart digital forms.

OneSpan generates revenue primarily through a subscription licensing model offering cloud based and on premise deployments of its cybersecurity and digital agreement products. Its products include authentication software, software development kits, hardware authenticators, e signature platforms, identity verification tools, and digital workflow solutions sold to financial institutions, enterprises, government, healthcare, and insurance customers worldwide via direct sales and channel partners such as distributors, resellers, systems integrators, and original equipment manufacturers.

The company operates through the following segments: Cybersecurity and Digital Agreements.

• Cybersecurity: This segment provides a broad portfolio of software products, software development kits, and Digipass authenticator devices used to build applications that defend against attacks on digital transactions across online environments, devices, and applications. It offers standards based authentication technologies such as FIDO authentication and passkeys, multi factor authentication, transaction signing solutions, and mobile application security delivered through on premises and cloud based deployment models.

• Digital Agreements: This segment provides solutions that enable clients to secure and automate business processes associated with digital agreement and customer transaction lifecycles requiring consent, non repudiation, and compliance. Its cloud based offerings include OneSpan Sign e signature, OneSpan Notary, and OneSpan Identity Verification.

OneSpan competes in a highly competitive market for security authentication identity electronic signature and digital workflow solutions. Its main competitors in authentication include Gemalto (a subsidiary of Thales Group), RSA Security, and Yubico while its primary competitors for e signature solutions are DocuSign, and Adobe Systems. The company differentiates itself through a broad product portfolio, global reach in over 120 countries, and a focus on high margin software solutions driven by the shift away from hardware authenticators.

The majority of OneSpan's revenue comes from financial institutions such as traditional banks, credit unions, and online only banks. It also serves enterprise, government, healthcare, and insurance customers in select regions around the globe. The top ten customers accounted for 18% of total worldwide revenue in 2025.