ADDED
As of February 19, 2026, there were 37,466,947 shares of common stock outstanding.
PART I Item 1 Business Overview OneSpan helps organizations build secure, seamless, and trusted digital experiences through two solution portfolios: Cybersecurity and Digital Agreements.
Our cybersecurity solutions protect identities, secure mobile apps, and safeguard access through advanced high-assurance authentication, threat intelligence, fraud prevention, and robust mobile app protection, defending users, devices, and applications against sophisticated attacks.
Our digital agreement solutions streamline agreement workflows with secure e-signatures, identity verification, and smart digital forms, built to enable speed, compliance and exceptional customer experiences.
Trusted by leading global enterprises, including more than 60% of the world s 100 largest banks, OneSpan processes over 100 million digital agreements and billions of secure authentication transactions across more than 120 countries each year.
We report our financial results under the following two business divisions, which are our reportable operating segments: Cybersecurity and Digital Agreements.
Cybersecurity, formerly Security Solutions, consists of our broad portfolio of software products, software development kits ("SDKs") and Digipass authenticator devices that are used to build applications designed to defend against attacks on digital transactions across online environments, devices, and applications.
The software products and SDKs included in the Cybersecurity segment are delivered through on-premises and cloud-based deployment models and include standards-based authentication technologies such as Fast Identity Online ("FIDO") authentication and passkeys, multi-factor authentication, transaction signing solutions and mobile application security.
Beginning in mid-2023 and through the third quarter of 2024, our focus was on adjusting our cost structure to enable both business divisions to operate profitably.
These cost optimization efforts were a major factor in the overall business returning to operating profitability in the fourth quarter of 2023.
REMOVED
As of February 21, 2025, there were 38,175,819 shares of common stock outstanding.
PART I Item 1 Business Overview OneSpan delivers cutting-edge solutions in two key areas: advanced secure authentication and digital agreements.
Our secure authentication solutions protect devices, users, and applications with robust multi-factor and passwordless authentication and other fraud prevention technologies.
Our digital agreements solutions combine identity verification, electronic signatures, and digital workflows to streamline agreements, enhance compliance, and accelerate business processes.
We empower organizations to automate and secure both customer-facing and revenue-generating processes, supporting a wide range of use cases from simple transactions to complex workflows requiring elevated security.
Trusted by global blue-chip enterprises, including more than 60% of the world s 100 largest banks, OneSpan processes millions of digital agreements and billions of secure authentication transactions in more than 100 countries annually.
Business Segments We report our financial results under the following two lines of business, which are our reportable operating segments: Security Solutions and Digital Agreements Security Solutions.
Security Solutions consists of our broad portfolio of software products, software development kits (SDKs), and Digipass authenticator devices that are used to build applications designed to defend against attacks on digital transactions across online environments, devices, and applications.
The software products and SDKs included in the Security Solutions segment are on-premises and, to a lesser extent, cloud software products, and include multi-factor authentication and transaction signing solutions, such as mobile application security and mobile software tokens.
Business Developments During 2022 and the first half of 2023, OneSpan was operating under a three-year strategic plan that focused on driving revenue growth in Digital Agreements.