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Side-by-side financial comparison of INFINITY NATURAL RESOURCES, INC. (INR) and OneSpan Inc. (OSPN). Click either name above to swap in a different company.
INFINITY NATURAL RESOURCES, INC. is the larger business by last-quarter revenue ($115.5M vs $65.9M, roughly 1.8× OneSpan Inc.). OneSpan Inc. runs the higher net margin — 17.5% vs 17.3%, a 0.2% gap on every dollar of revenue.
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.
INR vs OSPN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $115.5M | $65.9M |
| Net Profit | $20.0M | $11.6M |
| Gross Margin | — | 73.6% |
| Operating Margin | 47.0% | 22.5% |
| Net Margin | 17.3% | 17.5% |
| Revenue YoY | — | 4.1% |
| Net Profit YoY | — | — |
| EPS (diluted) | $1.33 | $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 | $115.5M | $62.9M | ||
| Q3 25 | $78.3M | $57.1M | ||
| Q2 25 | $72.5M | $59.8M | ||
| Q1 25 | $84.2M | $63.4M | ||
| Q4 24 | — | $61.2M | ||
| Q3 24 | — | $56.2M | ||
| Q2 24 | — | $60.9M |
| Q1 26 | — | $11.6M | ||
| Q4 25 | $20.0M | $43.5M | ||
| Q3 25 | $10.4M | $6.5M | ||
| Q2 25 | $18.0M | $8.3M | ||
| Q1 25 | $-34.6M | $14.5M | ||
| Q4 24 | — | $28.8M | ||
| Q3 24 | — | $8.3M | ||
| Q2 24 | — | $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 | 47.0% | 19.9% | ||
| Q3 25 | 30.5% | 14.4% | ||
| Q2 25 | 29.9% | 17.6% | ||
| Q1 25 | -104.5% | 27.1% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 20.0% | ||
| Q2 24 | — | 12.5% |
| Q1 26 | — | 17.5% | ||
| Q4 25 | 17.3% | 69.2% | ||
| Q3 25 | 13.3% | 11.4% | ||
| Q2 25 | 24.8% | 13.9% | ||
| Q1 25 | -41.1% | 22.9% | ||
| Q4 24 | — | 47.1% | ||
| Q3 24 | — | 14.7% | ||
| Q2 24 | — | 10.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | $1.33 | $1.13 | ||
| Q3 25 | $0.65 | $0.17 | ||
| Q2 25 | $1.18 | $0.21 | ||
| Q1 25 | $-2.27 | $0.37 | ||
| Q4 24 | — | $0.73 | ||
| Q3 24 | — | $0.21 | ||
| Q2 24 | — | $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 | $2.8M | $49.8M |
| Total DebtLower is stronger | $55.0K | — |
| Stockholders' EquityBook value | $307.1M | $272.0M |
| Total Assets | $1.2B | $383.1M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $49.8M | ||
| Q4 25 | $2.8M | $70.5M | ||
| Q3 25 | $4.6M | $85.6M | ||
| Q2 25 | $6.3M | $92.9M | ||
| Q1 25 | $4.9M | $105.2M | ||
| Q4 24 | — | $83.2M | ||
| Q3 24 | — | $77.5M | ||
| Q2 24 | — | $63.8M |
| Q1 26 | — | — | ||
| Q4 25 | $55.0K | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $123.0K | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $272.0M | ||
| Q4 25 | $307.1M | $271.8M | ||
| Q3 25 | $288.6M | $238.3M | ||
| Q2 25 | $10.1M | $242.5M | ||
| Q1 25 | $-52.2M | $231.1M | ||
| Q4 24 | — | $212.5M | ||
| Q3 24 | — | $194.6M | ||
| Q2 24 | — | $178.6M |
| Q1 26 | — | $383.1M | ||
| Q4 25 | $1.2B | $397.7M | ||
| Q3 25 | $1.1B | $343.5M | ||
| Q2 25 | $1.0B | $357.1M | ||
| Q1 25 | $953.9M | $333.8M | ||
| Q4 24 | — | $338.7M | ||
| Q3 24 | — | $289.3M | ||
| Q2 24 | — | $286.9M |
| Q1 26 | — | — | ||
| Q4 25 | 0.00× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $75.1M | $28.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.75× | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $28.2M | ||
| Q4 25 | $75.1M | $12.6M | ||
| Q3 25 | $42.1M | $11.3M | ||
| Q2 25 | $70.4M | $6.2M | ||
| Q1 25 | $74.2M | $29.4M | ||
| Q4 24 | — | $12.4M | ||
| Q3 24 | — | $14.0M | ||
| Q2 24 | — | $2.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $9.6M | ||
| Q3 25 | — | $8.8M | ||
| Q2 25 | — | $4.4M | ||
| Q1 25 | — | $27.7M | ||
| Q4 24 | — | $10.5M | ||
| Q3 24 | — | $12.0M | ||
| Q2 24 | — | $26.0K |
| Q1 26 | — | — | ||
| Q4 25 | — | 15.3% | ||
| Q3 25 | — | 15.4% | ||
| Q2 25 | — | 7.3% | ||
| Q1 25 | — | 43.8% | ||
| Q4 24 | — | 17.1% | ||
| Q3 24 | — | 21.4% | ||
| Q2 24 | — | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.7% | ||
| Q3 25 | — | 4.4% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 3.5% | ||
| Q2 24 | — | 3.7% |
| Q1 26 | — | 2.44× | ||
| Q4 25 | 3.75× | 0.29× | ||
| Q3 25 | 4.04× | 1.74× | ||
| Q2 25 | 3.91× | 0.75× | ||
| Q1 25 | — | 2.02× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 1.69× | ||
| Q2 24 | — | 0.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INR
| Oil Reserves | $54.0M | 47% |
| Natural Gas Reserves | $46.8M | 41% |
| Natural Gas Liquids Reserves | $14.7M | 13% |
OSPN
| Product and license | $35.5M | 54% |
| Services and other | $30.4M | 46% |
