Customer concentration
A limited number of customers contribute a meaningful share of revenue, so account loss would be material.
- Scope
- Top 10 customers were 18% of revenue in 2025
- Materiality
- high
OneSpan Inc.
OneSpan Inc. develops software and hardware for secure digital identity, authentication, and agreement workflows. The company serves enterprises worldwide through two reportable segments, Cybersecurity and Digital Agreements, with products delivered through subscription licenses, cloud services, and on-premises deployments.
24,1 %
73,8 %
30,0 %
+0,0 %
1.50
1.41
| % | |
|---|---|
| Cybersecurity | 55% Authentication, identity, mobile app protection, and fraud prevention solutions. |
| Digital Agreements | 45% E-signature, identity verification, and digital workflow tools for agreements. |
OneSpan sells primarily to enterprises that need secure access, identity assurance, and compliant digital transaction...
- Global banks and financial institutionsprimary
Buy authentication, fraud prevention, and digital agreement tools to secure customer access and transactions.
- Regulated enterprisesprimary
Use secure e-signatures, identity verification, and workflow tools to meet compliance and audit needs.
- Healthcare and government organizationssecondary
Adopt secure digital workflows and identity controls for sensitive records and regulated processes.
- Channel partners and OEMssecondary
Distribute or embed OneSpan technology into broader security and workflow offerings.
OneSpan sells globally and classifies revenue across EMEA, the Americas, and APAC. EMEA is the largest region in the...
- •Revenue is reported across EMEA, the Americas, and APAC
- •EMEA is the largest disclosed revenue region in interim filings
- •The Americas include North, Central, and South America customers
- •APAC includes Australia, New Zealand, and India in interim reporting
- •Operations are spread across the Americas, EMEA, and Asia Pacific
OneSpan’s strategy centers on subscription-based security and digital agreement software, with cloud delivery...
01
Grow subscription and cloud adoptionshort-term
Recurring software delivery improves customer stickiness and broadens deployment flexibility.
02
Strengthen authentication capabilitiesmedium-term
Authentication is central to the security portfolio and supports passwordless use cases.
03
Deepen penetration in regulated industriesmedium-term
Banks and other regulated buyers need secure, compliant digital transactions and identity controls.
04
Maintain multi-channel distributionlong-term
Direct and partner channels expand reach across enterprise and regional markets.
OneSpan faces intense competition in authentication, identity, and e-signature software, where larger rivals and niche...
Intense competition
The company competes with larger vendors in e-signature and authentication, plus niche security providers.
- Scope
- Authentication and digital agreements markets
- Materiality
- high
Cybersecurity and product security incidents
A breach or product failure could impair customer trust and trigger legal or reputational damage.
- Scope
- Cloud services, internal systems, and customer-facing security products
- Materiality
- high
Regulatory and compliance exposure
Customers in banking, healthcare, and government operate under evolving privacy and security rules.
- Scope
- EU and other global regulatory regimes
- Materiality
- medium
Acquisition integration risk
Purchased technologies must be integrated successfully to realize product and revenue benefits.
- Scope
- Nok Nok Labs and other strategic transactions
- Materiality
- medium
Revenue recognition
Affects reported revenue mix and quarterly comparability
Seasonality and order timing
Can create quarter-to-quarter volatility
Goodwill and intangible asset impairment
Could create significant non-cash charges
Purchase obligations and operating leases
Influences liquidity and contractual obligations disclosure
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: 29/04/2026