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Side-by-side financial comparison of MakeMyTrip Ltd (MMYT) and OneSpan Inc. (OSPN). Click either name above to swap in a different company.
MakeMyTrip Ltd is the larger business by last-quarter revenue ($88.6M vs $65.9M, roughly 1.3× OneSpan Inc.). On growth, MakeMyTrip Ltd posted the faster year-over-year revenue change (11.8% vs 4.1%).
MakeMyTrip Limited is an Indian online travel company, headquartered in Gurgaon. Founded in 2000, it operates an online travel-booking platform for travel services such as airline tickets, hotel reservations, holiday packages, and rail and bus tickets. The company also maintains offices outside India, including locations in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, Dubai and Istanbul.
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.
MMYT vs OSPN — Head-to-Head
Income Statement — Q4 FY2022 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $88.6M | $65.9M |
| Net Profit | — | $11.6M |
| Gross Margin | — | 73.6% |
| Operating Margin | 3.8% | 22.5% |
| Net Margin | — | 17.5% |
| Revenue YoY | 11.8% | 4.1% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $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 | — | $62.9M | ||
| Q3 25 | — | $57.1M | ||
| Q2 25 | — | $59.8M | ||
| Q1 25 | — | $63.4M | ||
| Q4 24 | — | $61.2M | ||
| Q3 24 | — | $56.2M | ||
| Q2 24 | — | $60.9M |
| Q1 26 | — | $11.6M | ||
| Q4 25 | — | $43.5M | ||
| Q3 25 | — | $6.5M | ||
| Q2 25 | — | $8.3M | ||
| Q1 25 | — | $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 | — | 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 | — | 17.5% | ||
| Q4 25 | — | 69.2% | ||
| Q3 25 | — | 11.4% | ||
| Q2 25 | — | 13.9% | ||
| Q1 25 | — | 22.9% | ||
| Q4 24 | — | 47.1% | ||
| Q3 24 | — | 14.7% | ||
| Q2 24 | — | 10.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | — | $1.13 | ||
| Q3 25 | — | $0.17 | ||
| Q2 25 | — | $0.21 | ||
| Q1 25 | — | $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 | $213.3M | $49.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $896.5M | $272.0M |
| Total Assets | $1.3B | $383.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $49.8M | ||
| Q4 25 | — | $70.5M | ||
| Q3 25 | — | $85.6M | ||
| Q2 25 | — | $92.9M | ||
| Q1 25 | — | $105.2M | ||
| Q4 24 | — | $83.2M | ||
| Q3 24 | — | $77.5M | ||
| Q2 24 | — | $63.8M |
| Q1 26 | — | $272.0M | ||
| Q4 25 | — | $271.8M | ||
| Q3 25 | — | $238.3M | ||
| Q2 25 | — | $242.5M | ||
| Q1 25 | — | $231.1M | ||
| Q4 24 | — | $212.5M | ||
| Q3 24 | — | $194.6M | ||
| Q2 24 | — | $178.6M |
| Q1 26 | — | $383.1M | ||
| Q4 25 | — | $397.7M | ||
| Q3 25 | — | $343.5M | ||
| Q2 25 | — | $357.1M | ||
| Q1 25 | — | $333.8M | ||
| Q4 24 | — | $338.7M | ||
| Q3 24 | — | $289.3M | ||
| Q2 24 | — | $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 | — | $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 | — | $12.6M | ||
| Q3 25 | — | $11.3M | ||
| Q2 25 | — | $6.2M | ||
| Q1 25 | — | $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 | — | 0.29× | ||
| Q3 25 | — | 1.74× | ||
| Q2 25 | — | 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
MMYT
Segment breakdown not available.
OSPN
| Product and license | $35.5M | 54% |
| Services and other | $30.4M | 46% |
