What is OneSpan's net debt?

OneSpan (OSPN) reported net debt of -$41.8M in Q1 2026.

How has OneSpan's net debt changed year-over-year?

OneSpan's net debt increased by 56.7% year-over-year, from -$96.48M to -$41.8M.

What is the long-term trend for OneSpan's net debt?

Over 5 years (2020 to 2025), OneSpan's net debt has grown at a -3.2% compound annual growth rate (CAGR), from -$73.14M to -$62.1M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

OneSpan OSPN Net debt

Discontinued — last reported Q1 '26

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Other financials

Income statement

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Revenue$65.9M+4.1%

Gross profit$48.5M+3.0%

Operating income$14.8M-13.8%

Net income$11.6M-20.3%

EPS (diluted)$0.30-18.9%

Balance sheet

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Cash & equivalents$49.8M-52.8%

Total debt$8.0M-10.7%

Total equity$272.0M+17.7%

Total assets$383.1M+14.8%

Cash flow

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Operating cash flow$28.2M-4.1%

CapEx$3.1M+91.9%

Free cash flow$25.1M-9.7%

Valuation

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Market cap$501.6M-14.2%

Enterprise value$459.8M-5.9%

P/E7.2×-2.9×

P/S2×-0.4×

Profitability

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Gross margin73.6%+1.5pp

Operating margin18.8%-1.1pp

Net margin28.5%+4.4pp

FCF margin19.5%-1.3pp

Returns & leverage

See full

Return on equity27.8%-1.1pp

Debt / equity0×0.0×

Current ratio1.3×-0.7×

Where this comes from

Calculated from OneSpan’s reported figures.

$8.0Mtotal debt−$49.8Mcash and equivalents=-$41.8M

The official record: OneSpan’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is OneSpan's net debt?: OneSpan (OSPN) reported net debt of -$41.8M in Q1 2026.
How has OneSpan's net debt changed year-over-year?: OneSpan's net debt increased by 56.7% year-over-year, from -$96.48M to -$41.8M.
What is the long-term trend for OneSpan's net debt?: Over 5 years (2020 to 2025), OneSpan's net debt has grown at a -3.2% compound annual growth rate (CAGR), from -$73.14M to -$62.1M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.