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Side-by-side financial comparison of Broadstone Net Lease, Inc. (BNL) and OneSpan Inc. (OSPN). Click either name above to swap in a different company.
Broadstone Net Lease, Inc. is the larger business by last-quarter revenue ($121.4M vs $65.9M, roughly 1.8× OneSpan Inc.). Broadstone Net Lease, Inc. runs the higher net margin — 38.2% vs 17.5%, a 20.7% gap on every dollar of revenue. On growth, Broadstone Net Lease, Inc. posted the faster year-over-year revenue change (11.7% vs 4.1%). Over the past eight quarters, Broadstone Net Lease, Inc.'s revenue compounded faster (7.1% CAGR vs 4.0%).
Broadstone Net Lease, Inc. is a real estate investment trust (REIT) that acquires, owns, and manages a diversified portfolio of single-tenant commercial real estate assets across the United States. Its portfolio covers key segments including industrial facilities, healthcare properties, retail locations, and office spaces, all leased to tenants under long-term net lease agreements.
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.
BNL vs OSPN — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $121.4M | $65.9M |
| Net Profit | $46.4M | $11.6M |
| Gross Margin | — | 73.6% |
| Operating Margin | 52.2% | 22.5% |
| Net Margin | 38.2% | 17.5% |
| Revenue YoY | 11.7% | 4.1% |
| Net Profit YoY | — | — |
| EPS (diluted) | $0.24 | $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 | $121.4M | $65.9M | ||
| Q4 25 | $118.3M | $62.9M | ||
| Q3 25 | $114.2M | $57.1M | ||
| Q2 25 | $113.0M | $59.8M | ||
| Q1 25 | $108.7M | $63.4M | ||
| Q4 24 | $112.1M | $61.2M | ||
| Q3 24 | $108.4M | $56.2M | ||
| Q2 24 | $105.9M | $60.9M |
| Q1 26 | $46.4M | $11.6M | ||
| Q4 25 | $33.1M | $43.5M | ||
| Q3 25 | $26.5M | $6.5M | ||
| Q2 25 | $20.2M | $8.3M | ||
| Q1 25 | $16.7M | $14.5M | ||
| Q4 24 | $26.4M | $28.8M | ||
| Q3 24 | $35.6M | $8.3M | ||
| Q2 24 | $35.3M | $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 | 52.2% | 22.5% | ||
| Q4 25 | — | 19.9% | ||
| Q3 25 | — | 14.4% | ||
| Q2 25 | — | 17.6% | ||
| Q1 25 | — | 27.1% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 20.0% | ||
| Q2 24 | — | 12.5% |
| Q1 26 | 38.2% | 17.5% | ||
| Q4 25 | 28.0% | 69.2% | ||
| Q3 25 | 23.2% | 11.4% | ||
| Q2 25 | 17.8% | 13.9% | ||
| Q1 25 | 15.4% | 22.9% | ||
| Q4 24 | 23.5% | 47.1% | ||
| Q3 24 | 32.8% | 14.7% | ||
| Q2 24 | 33.4% | 10.8% |
| Q1 26 | $0.24 | $0.39 | ||
| Q4 25 | $0.17 | $1.13 | ||
| Q3 25 | $0.14 | $0.17 | ||
| Q2 25 | $0.10 | $0.21 | ||
| Q1 25 | $0.09 | $0.37 | ||
| Q4 24 | $0.13 | $0.73 | ||
| Q3 24 | $0.19 | $0.21 | ||
| Q2 24 | $0.19 | $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 | $20.3M | $49.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.0B | $272.0M |
| Total Assets | $5.8B | $383.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $20.3M | $49.8M | ||
| Q4 25 | $30.5M | $70.5M | ||
| Q3 25 | $82.0M | $85.6M | ||
| Q2 25 | $20.8M | $92.9M | ||
| Q1 25 | $9.6M | $105.2M | ||
| Q4 24 | $14.8M | $83.2M | ||
| Q3 24 | $9.0M | $77.5M | ||
| Q2 24 | $18.3M | $63.8M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $1.9B | — |
| Q1 26 | $3.0B | $272.0M | ||
| Q4 25 | $2.9B | $271.8M | ||
| Q3 25 | $2.9B | $238.3M | ||
| Q2 25 | $2.9B | $242.5M | ||
| Q1 25 | $2.9B | $231.1M | ||
| Q4 24 | $3.0B | $212.5M | ||
| Q3 24 | $3.0B | $194.6M | ||
| Q2 24 | $3.1B | $178.6M |
| Q1 26 | $5.8B | $383.1M | ||
| Q4 25 | $5.7B | $397.7M | ||
| Q3 25 | $5.5B | $343.5M | ||
| Q2 25 | $5.3B | $357.1M | ||
| Q1 25 | $5.2B | $333.8M | ||
| Q4 24 | $5.2B | $338.7M | ||
| Q3 24 | $5.3B | $289.3M | ||
| Q2 24 | $5.3B | $286.9M |
| Q1 26 | — | — | ||
| Q4 25 | 0.87× | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.68× | — | ||
| Q4 24 | 0.64× | — | ||
| Q3 24 | 0.65× | — | ||
| Q2 24 | 0.62× | — |
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 | — | $28.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $28.2M | ||
| Q4 25 | $299.5M | $12.6M | ||
| Q3 25 | $64.2M | $11.3M | ||
| Q2 25 | $79.3M | $6.2M | ||
| Q1 25 | $71.5M | $29.4M | ||
| Q4 24 | $276.3M | $12.4M | ||
| Q3 24 | $67.3M | $14.0M | ||
| Q2 24 | $74.2M | $2.3M |
| Q1 26 | — | — | ||
| Q4 25 | $269.8M | $9.6M | ||
| Q3 25 | $58.0M | $8.8M | ||
| Q2 25 | $76.7M | $4.4M | ||
| Q1 25 | $57.1M | $27.7M | ||
| Q4 24 | $259.5M | $10.5M | ||
| Q3 24 | $60.3M | $12.0M | ||
| Q2 24 | $74.0M | $26.0K |
| Q1 26 | — | — | ||
| Q4 25 | 228.1% | 15.3% | ||
| Q3 25 | 50.8% | 15.4% | ||
| Q2 25 | 67.9% | 7.3% | ||
| Q1 25 | 52.5% | 43.8% | ||
| Q4 24 | 231.4% | 17.1% | ||
| Q3 24 | 55.6% | 21.4% | ||
| Q2 24 | 69.9% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | 25.1% | 4.7% | ||
| Q3 25 | 5.4% | 4.4% | ||
| Q2 25 | 2.3% | 3.1% | ||
| Q1 25 | 13.2% | 2.6% | ||
| Q4 24 | 15.0% | 3.2% | ||
| Q3 24 | 6.5% | 3.5% | ||
| Q2 24 | 0.2% | 3.7% |
| Q1 26 | — | 2.44× | ||
| Q4 25 | 9.04× | 0.29× | ||
| Q3 25 | 2.43× | 1.74× | ||
| Q2 25 | 3.93× | 0.75× | ||
| Q1 25 | 4.27× | 2.02× | ||
| Q4 24 | 10.47× | 0.43× | ||
| Q3 24 | 1.89× | 1.69× | ||
| Q2 24 | 2.10× | 0.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BNL
Segment breakdown not available.
OSPN
| Product and license | $35.5M | 54% |
| Services and other | $30.4M | 46% |
