Mission Statement, Vision, & Core Values of OneSpan Inc. (OSPN)

You're looking at OneSpan Inc. (OSPN), a company that's tightening its focus on software, which is why their full-year 2025 revenue guidance is still a solid range of $239 million to $241 million, even with hardware headwinds. But a financial model is only as good as the foundation it rests on-the Mission Statement, Vision, and Core Values-which is the strategic 'why' behind that impressive 74% gross margin reported in Q3 2025. Can a vision to be the global leader in digital agreement security defintely sustain a 10% year-over-year growth in Annual Recurring Revenue (ARR) to $180.2 million? Let's map the principles to the performance.

OneSpan Inc. (OSPN) Overview

You need a clear picture of what OneSpan Inc. is doing right now, especially as they pivot their business model. The short answer is they're a security and digital agreements company, and their full-year 2025 revenue is projected to land between $239 million and $241 million, even while they manage a major business transition.

OneSpan, which you may remember as Vasco Data Security International until the 2018 name change, was founded way back in 1984. They're headquartered in Boston, Massachusetts, and have built a long history in the financial sector, providing the security tools that banks and other institutions need to protect digital transactions.

Their product line is split into two main segments: Security Solutions and Digital Agreements. This includes everything from the classic Digipass Authenticators (the hardware tokens you might still see) to modern, cloud-based multi-factor authentication, plus their e-signature platform, OneSpan Sign, and Identity Verification services. Honestly, the core story here is the shift from selling physical hardware to selling subscription software, which now makes up over 80% of their overall business. If you want a deeper dive into their origins and how their business model works, you can find it here: OneSpan Inc. (OSPN): History, Ownership, Mission, How It Works & Makes Money.

Q3 2025 Financial Performance: The Software Shift Pays Off

The latest financial report, covering Q3 2025 and released in late October 2025, shows exactly how this software pivot is playing out. Total revenue for the quarter was $57.1 million, a modest 1% increase year-over-year. What this estimate hides is the underlying strength in their recurring business, which is what we, as analysts, care most about.

Subscription revenue, the engine of their new model, grew a solid 12% year-over-year to $37.8 million in Q3 2025. This growth drove their Annual Recurring Revenue (ARR) up 10% to a strong $180.2 million. Here's the quick math on their two main segments:

• Digital Agreements revenue grew 9% to $16.7 million.
• Security Solutions revenue was $40.3 million, a 1% decline, which is the expected headwind from hardware token sales shrinking.

Still, the company's profitability is defintely holding up: adjusted EBITDA for Q3 2025 rose 3% year-over-year to $17.5 million. They are generating cash, which is a good sign, and they even completed the acquisition of Nok Nok Labs in June 2025 to boost their FIDO2 authentication capabilities. That's a clear action to map near-term risks to long-term opportunity.

A Leader in Digital Identity and Security

OneSpan is a key player in the digital identity and security space, particularly for the global financial services industry. They're not just selling security; they're selling trust in a digital world, which is a massive market. The company's long-standing relationships with major financial institutions, combined with its strategic shift toward software-based solutions like Cloud Authentication and Mobile Application Shielding, solidify its position.

Their focus on multi-factor authentication (MFA) is central to their success, and the strategic move to acquire companies like Nok Nok Labs shows a commitment to staying ahead of the curve in advanced authentication standards. You can see this focus in their Net Retention Rate (NRR) of 103%, meaning existing customers are spending more with them year over year. They are navigating the challenging transition from legacy hardware to modern software, and that's why they remain one of the leader companies in the industry. To understand the full scope of their success and strategic direction, you need to look closer at their core mission and values.

OneSpan Inc. (OSPN) Mission Statement

You're looking for the bedrock of OneSpan Inc.'s (OSPN) strategy, and honestly, it's not a single, pithy sentence carved in stone. Instead, their mission is a three-part mandate that guides every investment decision, especially as they pivot further into software. The core takeaway is simple: OneSpan is laser-focused on enabling secure digital transformation by providing trust in a digital-first world.

This mission isn't just corporate fluff; it directly maps to their financial performance. For the full fiscal year 2025, OneSpan is projecting total revenue in the range of $239 million to $241 million, with Annual Recurring Revenue (ARR) expected to hit between $183 million and $187 million. That growth, particularly the recurring revenue, shows clients are buying into the long-term security vision, not just a one-off product purchase. You can see more about this strategic shift at OneSpan Inc. (OSPN): History, Ownership, Mission, How It Works & Makes Money.

Securing Digital Transformations

The first pillar of their mission is 'Securing Digital Transformations.' This is their north star, recognizing that every business-especially in financial services-is moving away from paper and physical interactions. This means their solutions must ensure the integrity of digital processes, which is a huge undertaking.

The company's strategic moves in 2025 reflect this commitment. For instance, the acquisition of Nok Nok Labs, completed in Q3 2025, was a clear move to accelerate their leadership in FIDO (Fast IDentity Online) passwordless authentication. This directly addresses the industry-wide push to ditch static passwords, which are a massive security risk. It's a smart, preemptive investment that keeps them ahead of the curve.

• Accelerate the shift to passwordless security.
• Integrate security into digital workflows seamlessly.
• Maintain compliance for regulated industries.

Their software business, which now makes up over 80% of their overall operations, is the engine driving this transformation, making the company less reliant on their legacy hardware. That shift is defintely a positive signal for long-term valuation.

Protecting Identities, Transactions, and Data

The second core component is 'Protecting Identities, Transactions, and Data.' This is the meat-and-potatoes of their value proposition, especially for their blue-chip clientele. They aren't just selling a product; they are selling trust in an environment where cyber fraud is escalating.

Consider the scale: OneSpan is trusted by more than 60% of the world's 100 largest banks, and they process billions of multi-factor authentication transactions annually. That kind of market penetration in a highly regulated sector like banking speaks volumes about the reliability of their anti-fraud solutions. This is where the rubber meets the road.

The real-world urgency is clear: in Japan alone, account takeover fraud losses are projected to total approximately ¥690 billion in 2025, which is why institutions like Sumitomo Mitsui Trust Bank chose OneSpan's FIDO Cloud Authentication solution in November 2025. This is a concrete example of their technology mitigating a near-term, massive financial risk for a major client.

Providing Security and E-Signature Solutions

The final pillar is the delivery mechanism: 'Providing Security and E-Signature Solutions.' This is about packaging their expertise into two key, high-demand product lines: advanced secure authentication and digital agreements (e-signatures). This dual focus allows them to own the entire secure digital workflow, from identity verification to the final, legally binding signature.

Their financial results show this strategy is working, particularly in the Digital Agreements segment, which saw revenue grow by 9% in Q3 2025. This growth is fueled by their commitment to innovation, such as the H2 2025 enhancements to OneSpan Sign, which introduced multi-channel notifications and Smart Forms to streamline complex workflows. They are making it easier for their customers to do business securely.

Their fundamental core values-like Integrity and a commitment to Ethics, which are woven throughout their Code of Conduct-are what underpin the trust required to sell these security solutions to the world's largest financial institutions. You can't be a leader in digital security without being a leader in corporate integrity. It all ties back to their goal of driving efficient revenue growth while maintaining strong profitability, with full-year 2025 Adjusted EBITDA guidance set between $72 million and $76 million.

OneSpan Inc. (OSPN) Vision Statement

You need to understand a company's vision and mission to properly value its strategic pivot, especially with OneSpan Inc.'s ongoing shift from hardware to software. Their vision is clear: to become the global leader in providing digital agreement security solutions. This isn't just marketing fluff; it's a map for their product development and capital allocation, directly tied to their mission of securing digital transformations for financial institutions, governments, and businesses worldwide.

Honestly, the market is validating this focus. The company is already trusted by more than 60% of the world's 100 largest banks, processing billions of multi-factor authentication transactions annually. But the real story is how they're transitioning their revenue mix to support this vision-it's a tough but necessary shift.

The Vision: Global Leadership in Digital Agreement Security

OneSpan Inc.'s vision centers on dominating the niche of securing the entire digital agreement lifecycle. This includes everything from initial identity verification to the final, legally-binding electronic signature (e-signature). They are moving beyond simply selling hardware tokens (Digipass) to providing cloud-based solutions that offer high-assurance identity and anti-fraud capabilities. The strategic focus is on embedding trust into every digital interaction, which is defintely where the high-margin, recurring revenue lies.

The company is projecting Full Year 2025 Revenue in the range of $239 million to $241 million, a slight downward revision from earlier guidance, which highlights the near-term risk of hardware sales decline. Still, the underlying growth in the software business, which is now over 80% of their operations, shows the vision is taking hold. You can see a deeper dive into these numbers here: Breaking Down OneSpan Inc. (OSPN) Financial Health: Key Insights for Investors.

Securing Digital Agreements: The Product Focus

The core of the vision is the product portfolio, which is now heavily weighted toward subscription services. Digital agreements and security solutions are the two pillars. In the third quarter of 2025, Digital Agreements revenue grew by 9% year-over-year, showing solid traction in that space. This isn't just about signing a PDF; it's about a secure, verifiable workflow.

• Protect identities, transactions, and sensitive data.
• Provide cloud-based authentication and e-signature tools.
• Automate and secure customer-facing business processes.

To be fair, the Security Solutions revenue saw a slight decrease in Q3 2025, but the strategic investments are aimed at reversing that. The June 2025 acquisition of Nok Nok Labs, a leader in FIDO passwordless authentication, is a direct move to future-proof their offering and accelerate the shift away from legacy hardware. They are investing in the future of authentication.

Driving Growth with Annual Recurring Revenue (ARR)

The most concrete measure of their vision's execution is the growth in Annual Recurring Revenue (ARR), which is the lifeblood of a software company. The company's focus on subscription growth is driving this metric. As of Q3 2025, ARR increased 10% year-over-year to $180.2 million. Management is projecting the full-year 2025 ARR to land between $183 million and $187 million.

Here's the quick math: Q3 2025 Subscription Revenue was $37.8 million, a 12% year-over-year increase. That's a strong signal that customers are moving to the subscription model, which is key for long-term valuation stability. Plus, a Net Retention Rate (NRR) of 103% indicates that existing customers are spending more with OneSpan Inc. year-over-year, either by adding users or adopting new solutions.

Core Values: The Foundation of Trust and Accountability

A vision of 'global leadership' demands a strong internal culture, especially in a high-stakes field like cybersecurity. OneSpan Inc.'s core values are built around fostering trust, which is their product, and driving innovation. The company emphasizes collaboration, accountability, transparency, and speed in its workforce. This isn't just human resources talk; it directly impacts their ability to respond to evolving cyber threats, like the October 2025 strategic investment in ThreatFabric to enhance fraud prevention capabilities.

Their commitment to diversity, equality, and inclusion is part of building a world-class, innovative workforce. The financial services sector they serve is highly regulated, so a culture of accountability is non-negotiable. This value system is what allows them to maintain the trust of over half of the world's top 100 banks.

OneSpan Inc. (OSPN) Core Values

You're looking for the true north of a company like OneSpan Inc., and you should be. The mission and values aren't just wall decorations; they map directly to the near-term strategy and, more importantly, the financial outcomes. For OneSpan, everything circles back to securing digital transformation. That's the core job.

Their guiding principles-Integrity, Innovation, and the foundational commitment to Trust and Security-show how they execute this job in a highly regulated, high-stakes market. This isn't theoretical. It's reflected in their 2025 performance, where the focus on recurring revenue is defintely a key metric.

Innovation is about continuously seeking new and improved ways to deliver value to customers, not just chasing shiny new tech. For OneSpan, this means aggressively building out their cloud-based security and digital agreements portfolio to stay ahead of evolving fraud threats. You have to move fast in this space. OneSpan's investment in this value is clear in their 2025 strategic moves.

Here's the quick math on execution: The acquisition of Nok Nok Labs in the second quarter of 2025 immediately bolstered their FIDO passwordless authentication capabilities. This targeted move contributed an immediate $8.1 million to the Annual Recurring Revenue (ARR) as of Q2 2025, pushing the total ARR to $177.8 million, an 8% year-over-year increase. Also, in October 2025, they invested in ThreatFabric to advance their fraud prevention innovation, showing a commitment to external partnerships that enhance their core offering.

• Acquired Nok Nok Labs to expand FIDO authentication.
• ARR hit $177.8 million in Q2 2025, up 8% year-over-year.
• Invested in ThreatFabric for advanced fraud prevention.

Integrity, for a security company, means conducting business with honesty, transparency, and ethical behavior. This value is non-negotiable when you're handling the digital identities and high-value transactions for the world's largest financial institutions. If the integrity of your process is questioned, the business model fails.

This commitment translates into rigorous compliance and a focus on corporate social responsibility. OneSpan operates in over 100 countries, which requires navigating a complex web of global legal standards for e-signatures and authentication. The company's emphasis on Environmental, Social, and Governance (ESG) practices, as highlighted in their 2024 ESG Report, shows they view ethical operations as part of their fiduciary duty to customers and shareholders. This steady hand is critical when you're guiding clients through their own digital transformation journeys. You can see how this foundation was built in OneSpan Inc. (OSPN): History, Ownership, Mission, How It Works & Makes Money.

While not always listed as a single word, Trust and Security is the operational core value, an extension of their mission to secure digital transformations. The proof is in the customer base and the sheer volume of transactions they protect. They are the bedrock for critical financial infrastructure.

OneSpan is trusted by more than 60% of the world's 100 largest banks, which is a powerful third-party validation of their security architecture. They process billions of multi-factor authentication transactions annually across a global footprint. The financial outlook for the full year 2025, with revenue guidance set between $239 million and $241 million, and recurring revenue expected to be between $183 million and $187 million, underscores the market's continued reliance on their solutions. This revenue stream is a direct reflection of the trust they've earned in protecting identities, transactions, and data for their blue-chip clientele. In Q2 2025 alone, their operating income was $10.5 million, a sign of efficient execution on this high-assurance mandate.