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Side-by-side financial comparison of HORIZON BANCORP INC (HBNC) 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 $63.5M, roughly 1.0× HORIZON BANCORP INC). HORIZON BANCORP INC runs the higher net margin — 42.4% vs 17.5%, a 24.9% gap on every dollar of revenue. On growth, HORIZON BANCORP INC posted the faster year-over-year revenue change (19.5% vs 4.1%). Over the past eight quarters, HORIZON BANCORP INC's revenue compounded faster (9.2% 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.
HBNC vs OSPN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $63.5M | $65.9M |
| Net Profit | $26.9M | $11.6M |
| Gross Margin | — | 73.6% |
| Operating Margin | 51.5% | 22.5% |
| Net Margin | 42.4% | 17.5% |
| Revenue YoY | 19.5% | 4.1% |
| Net Profit YoY | 347.4% | — |
| EPS (diluted) | $0.44 | $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 | $63.5M | $62.9M | ||
| Q3 25 | $58.4M | $57.1M | ||
| Q2 25 | $66.3M | $59.8M | ||
| Q1 25 | $68.8M | $63.4M | ||
| Q4 24 | $53.1M | $61.2M | ||
| Q3 24 | $58.4M | $56.2M | ||
| Q2 24 | $55.8M | $60.9M |
| Q1 26 | — | $11.6M | ||
| Q4 25 | $26.9M | $43.5M | ||
| Q3 25 | $-222.0M | $6.5M | ||
| Q2 25 | $20.6M | $8.3M | ||
| Q1 25 | $23.9M | $14.5M | ||
| Q4 24 | $-10.9M | $28.8M | ||
| Q3 24 | $18.2M | $8.3M | ||
| Q2 24 | $14.1M | $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 | 51.5% | 19.9% | ||
| Q3 25 | -490.4% | 14.4% | ||
| Q2 25 | 36.8% | 17.6% | ||
| Q1 25 | 40.8% | 27.1% | ||
| Q4 24 | -41.3% | 19.3% | ||
| Q3 24 | 31.0% | 20.0% | ||
| Q2 24 | 28.5% | 12.5% |
| Q1 26 | — | 17.5% | ||
| Q4 25 | 42.4% | 69.2% | ||
| Q3 25 | -380.2% | 11.4% | ||
| Q2 25 | 31.1% | 13.9% | ||
| Q1 25 | 34.8% | 22.9% | ||
| Q4 24 | -20.5% | 47.1% | ||
| Q3 24 | 31.1% | 14.7% | ||
| Q2 24 | 25.4% | 10.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | $0.44 | $1.13 | ||
| Q3 25 | $-4.69 | $0.17 | ||
| Q2 25 | $0.47 | $0.21 | ||
| Q1 25 | $0.54 | $0.37 | ||
| Q4 24 | $-0.25 | $0.73 | ||
| Q3 24 | $0.41 | $0.21 | ||
| Q2 24 | $0.32 | $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 | $139.5M | $49.8M |
| Total DebtLower is stronger | $248.6M | — |
| Stockholders' EquityBook value | $688.3M | $272.0M |
| Total Assets | $6.4B | $383.1M |
| Debt / EquityLower = less leverage | 0.36× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $49.8M | ||
| Q4 25 | $139.5M | $70.5M | ||
| Q3 25 | $458.3M | $85.6M | ||
| Q2 25 | $137.9M | $92.9M | ||
| Q1 25 | $169.7M | $105.2M | ||
| Q4 24 | $293.4M | $83.2M | ||
| Q3 24 | $234.8M | $77.5M | ||
| Q2 24 | $146.1M | $63.8M |
| Q1 26 | — | — | ||
| Q4 25 | $248.6M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $272.0M | ||
| Q4 25 | $688.3M | $271.8M | ||
| Q3 25 | $660.8M | $238.3M | ||
| Q2 25 | $790.9M | $242.5M | ||
| Q1 25 | $776.1M | $231.1M | ||
| Q4 24 | $763.6M | $212.5M | ||
| Q3 24 | $754.8M | $194.6M | ||
| Q2 24 | $726.7M | $178.6M |
| Q1 26 | — | $383.1M | ||
| Q4 25 | $6.4B | $397.7M | ||
| Q3 25 | $6.7B | $343.5M | ||
| Q2 25 | $7.7B | $357.1M | ||
| Q1 25 | $7.6B | $333.8M | ||
| Q4 24 | $7.8B | $338.7M | ||
| Q3 24 | $7.9B | $289.3M | ||
| Q2 24 | $7.9B | $286.9M |
| Q1 26 | — | — | ||
| Q4 25 | 0.36× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.61× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $79.2M | $28.2M |
| Free Cash FlowOCF − Capex | $74.3M | — |
| FCF MarginFCF / Revenue | 117.0% | — |
| Capex IntensityCapex / Revenue | 7.8% | — |
| Cash ConversionOCF / Net Profit | 2.94× | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | $115.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $28.2M | ||
| Q4 25 | $79.2M | $12.6M | ||
| Q3 25 | $10.9M | $11.3M | ||
| Q2 25 | $19.5M | $6.2M | ||
| Q1 25 | $15.2M | $29.4M | ||
| Q4 24 | $6.4M | $12.4M | ||
| Q3 24 | $32.3M | $14.0M | ||
| Q2 24 | $15.9M | $2.3M |
| Q1 26 | — | — | ||
| Q4 25 | $74.3M | $9.6M | ||
| Q3 25 | $9.4M | $8.8M | ||
| Q2 25 | $18.1M | $4.4M | ||
| Q1 25 | $14.1M | $27.7M | ||
| Q4 24 | $1.3M | $10.5M | ||
| Q3 24 | $31.0M | $12.0M | ||
| Q2 24 | $15.1M | $26.0K |
| Q1 26 | — | — | ||
| Q4 25 | 117.0% | 15.3% | ||
| Q3 25 | 16.1% | 15.4% | ||
| Q2 25 | 27.3% | 7.3% | ||
| Q1 25 | 20.5% | 43.8% | ||
| Q4 24 | 2.4% | 17.1% | ||
| Q3 24 | 53.1% | 21.4% | ||
| Q2 24 | 27.1% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | 7.8% | 4.7% | ||
| Q3 25 | 2.6% | 4.4% | ||
| Q2 25 | 2.1% | 3.1% | ||
| Q1 25 | 1.6% | 2.6% | ||
| Q4 24 | 9.6% | 3.2% | ||
| Q3 24 | 2.2% | 3.5% | ||
| Q2 24 | 1.5% | 3.7% |
| Q1 26 | — | 2.44× | ||
| Q4 25 | 2.94× | 0.29× | ||
| Q3 25 | — | 1.74× | ||
| Q2 25 | 0.94× | 0.75× | ||
| Q1 25 | 0.64× | 2.02× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | 1.78× | 1.69× | ||
| Q2 24 | 1.13× | 0.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HBNC
Segment breakdown not available.
OSPN
| Product and license | $35.5M | 54% |
| Services and other | $30.4M | 46% |
