vs
Side-by-side financial comparison of Bank First Corp (BFC) and OneSpan Inc. (OSPN). Click either name above to swap in a different company.
OneSpan Inc. is the larger business by last-quarter revenue ($65.9M vs $44.9M, roughly 1.5× Bank First Corp). Bank First Corp runs the higher net margin — 45.8% vs 17.5%, a 28.2% gap on every dollar of revenue. On growth, Bank First Corp posted the faster year-over-year revenue change (12.1% vs 4.1%). Over the past eight quarters, Bank First Corp's revenue compounded faster (9.1% CAGR vs 4.0%).
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
OneSpan Inc. is an information security company based in Boston, Massachusetts. Services include an internet fraud prevention platform, multi-factor authentication tools and electronic signature software.
BFC vs OSPN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $65.9M |
| Net Profit | $18.4M | $11.6M |
| Gross Margin | — | 73.6% |
| Operating Margin | 51.0% | 22.5% |
| Net Margin | 45.8% | 17.5% |
| Revenue YoY | 12.1% | 4.1% |
| Net Profit YoY | 4.8% | — |
| EPS (diluted) | $1.87 | $0.39 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $65.9M | ||
| Q4 25 | $44.9M | $62.9M | ||
| Q3 25 | $44.2M | $57.1M | ||
| Q2 25 | $41.6M | $59.8M | ||
| Q1 25 | $43.1M | $63.4M | ||
| Q4 24 | $40.1M | $61.2M | ||
| Q3 24 | $40.8M | $56.2M | ||
| Q2 24 | $38.9M | $60.9M |
| Q1 26 | — | $11.6M | ||
| Q4 25 | $18.4M | $43.5M | ||
| Q3 25 | $18.0M | $6.5M | ||
| Q2 25 | $16.9M | $8.3M | ||
| Q1 25 | $18.2M | $14.5M | ||
| Q4 24 | $17.5M | $28.8M | ||
| Q3 24 | $16.6M | $8.3M | ||
| Q2 24 | $16.1M | $6.6M |
| Q1 26 | — | 73.6% | ||
| Q4 25 | — | 73.6% | ||
| Q3 25 | — | 73.6% | ||
| Q2 25 | — | 73.5% | ||
| Q1 25 | — | 74.3% | ||
| Q4 24 | — | 74.0% | ||
| Q3 24 | — | 73.9% | ||
| Q2 24 | — | 66.2% |
| Q1 26 | — | 22.5% | ||
| Q4 25 | 51.0% | 19.9% | ||
| Q3 25 | 50.8% | 14.4% | ||
| Q2 25 | 49.7% | 17.6% | ||
| Q1 25 | 51.3% | 27.1% | ||
| Q4 24 | 54.4% | 19.3% | ||
| Q3 24 | 50.7% | 20.0% | ||
| Q2 24 | 51.0% | 12.5% |
| Q1 26 | — | 17.5% | ||
| Q4 25 | 45.8% | 69.2% | ||
| Q3 25 | 40.7% | 11.4% | ||
| Q2 25 | 40.5% | 13.9% | ||
| Q1 25 | 42.3% | 22.9% | ||
| Q4 24 | 49.3% | 47.1% | ||
| Q3 24 | 40.6% | 14.7% | ||
| Q2 24 | 41.3% | 10.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | $1.87 | $1.13 | ||
| Q3 25 | $1.83 | $0.17 | ||
| Q2 25 | $1.71 | $0.21 | ||
| Q1 25 | $1.82 | $0.37 | ||
| Q4 24 | $1.75 | $0.73 | ||
| Q3 24 | $1.65 | $0.21 | ||
| Q2 24 | $1.59 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $243.2M | $49.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $643.8M | $272.0M |
| Total Assets | $4.5B | $383.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $49.8M | ||
| Q4 25 | $243.2M | $70.5M | ||
| Q3 25 | $126.2M | $85.6M | ||
| Q2 25 | $120.3M | $92.9M | ||
| Q1 25 | $300.9M | $105.2M | ||
| Q4 24 | $261.3M | $83.2M | ||
| Q3 24 | $204.4M | $77.5M | ||
| Q2 24 | $99.0M | $63.8M |
| Q1 26 | — | $272.0M | ||
| Q4 25 | $643.8M | $271.8M | ||
| Q3 25 | $628.1M | $238.3M | ||
| Q2 25 | $612.3M | $242.5M | ||
| Q1 25 | $648.4M | $231.1M | ||
| Q4 24 | $639.7M | $212.5M | ||
| Q3 24 | $628.9M | $194.6M | ||
| Q2 24 | $614.6M | $178.6M |
| Q1 26 | — | $383.1M | ||
| Q4 25 | $4.5B | $397.7M | ||
| Q3 25 | $4.4B | $343.5M | ||
| Q2 25 | $4.4B | $357.1M | ||
| Q1 25 | $4.5B | $333.8M | ||
| Q4 24 | $4.5B | $338.7M | ||
| Q3 24 | $4.3B | $289.3M | ||
| Q2 24 | $4.1B | $286.9M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $62.5M | $28.2M |
| Free Cash FlowOCF − Capex | $51.0M | — |
| FCF MarginFCF / Revenue | 113.6% | — |
| Capex IntensityCapex / Revenue | 25.5% | — |
| Cash ConversionOCF / Net Profit | 3.40× | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | $75.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $28.2M | ||
| Q4 25 | $62.5M | $12.6M | ||
| Q3 25 | $15.5M | $11.3M | ||
| Q2 25 | $11.9M | $6.2M | ||
| Q1 25 | $6.2M | $29.4M | ||
| Q4 24 | $65.8M | $12.4M | ||
| Q3 24 | $18.8M | $14.0M | ||
| Q2 24 | $14.9M | $2.3M |
| Q1 26 | — | — | ||
| Q4 25 | $51.0M | $9.6M | ||
| Q3 25 | $12.5M | $8.8M | ||
| Q2 25 | $8.2M | $4.4M | ||
| Q1 25 | $4.0M | $27.7M | ||
| Q4 24 | $58.6M | $10.5M | ||
| Q3 24 | $16.9M | $12.0M | ||
| Q2 24 | $13.7M | $26.0K |
| Q1 26 | — | — | ||
| Q4 25 | 113.6% | 15.3% | ||
| Q3 25 | 28.2% | 15.4% | ||
| Q2 25 | 19.8% | 7.3% | ||
| Q1 25 | 9.3% | 43.8% | ||
| Q4 24 | 146.3% | 17.1% | ||
| Q3 24 | 41.5% | 21.4% | ||
| Q2 24 | 35.3% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | 25.5% | 4.7% | ||
| Q3 25 | 6.7% | 4.4% | ||
| Q2 25 | 8.7% | 3.1% | ||
| Q1 25 | 5.0% | 2.6% | ||
| Q4 24 | 18.0% | 3.2% | ||
| Q3 24 | 4.5% | 3.5% | ||
| Q2 24 | 3.1% | 3.7% |
| Q1 26 | — | 2.44× | ||
| Q4 25 | 3.40× | 0.29× | ||
| Q3 25 | 0.86× | 1.74× | ||
| Q2 25 | 0.70× | 0.75× | ||
| Q1 25 | 0.34× | 2.02× | ||
| Q4 24 | 3.75× | 0.43× | ||
| Q3 24 | 1.13× | 1.69× | ||
| Q2 24 | 0.93× | 0.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFC
Segment breakdown not available.
OSPN
| Product and license | $35.5M | 54% |
| Services and other | $30.4M | 46% |
