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Side-by-side financial comparison of Orchid Island Capital, Inc. (ORC) 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 $38.5M, roughly 1.7× Orchid Island Capital, Inc.). Orchid Island Capital, Inc. runs the higher net margin — 268.7% vs 17.5%, a 251.2% gap on every dollar of revenue. On growth, Orchid Island Capital, Inc. posted the faster year-over-year revenue change (372.6% vs 4.1%). Over the past eight quarters, Orchid Island Capital, Inc.'s revenue compounded faster (301.6% CAGR vs 4.0%).
Orchid Island Capital, Inc. is a U.S.-based specialty finance company operating as a real estate investment trust. It primarily invests in residential mortgage-backed securities, including agency and non-agency products, targeting consistent risk-adjusted returns for its investors across U.S. fixed income markets.
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.
ORC vs OSPN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $38.5M | $65.9M |
| Net Profit | $103.4M | $11.6M |
| Gross Margin | — | 73.6% |
| Operating Margin | — | 22.5% |
| Net Margin | 268.7% | 17.5% |
| Revenue YoY | 372.6% | 4.1% |
| Net Profit YoY | 1764.9% | — |
| 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 | $38.5M | $62.9M | ||
| Q3 25 | $26.9M | $57.1M | ||
| Q2 25 | $23.2M | $59.8M | ||
| Q1 25 | $19.7M | $63.4M | ||
| Q4 24 | — | $61.2M | ||
| Q3 24 | $340.0K | $56.2M | ||
| Q2 24 | $-697.0K | $60.9M |
| Q1 26 | — | $11.6M | ||
| Q4 25 | $103.4M | $43.5M | ||
| Q3 25 | $72.1M | $6.5M | ||
| Q2 25 | $-33.6M | $8.3M | ||
| Q1 25 | $17.1M | $14.5M | ||
| Q4 24 | — | $28.8M | ||
| Q3 24 | $17.3M | $8.3M | ||
| Q2 24 | $-5.0M | $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 | 268.7% | 69.2% | ||
| Q3 25 | 267.8% | 11.4% | ||
| Q2 25 | -145.0% | 13.9% | ||
| Q1 25 | 86.9% | 22.9% | ||
| Q4 24 | — | 47.1% | ||
| Q3 24 | 5094.1% | 14.7% | ||
| Q2 24 | 714.3% | 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 | $665.9M | $49.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $272.0M |
| Total Assets | $11.7B | $383.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $49.8M | ||
| Q4 25 | $665.9M | $70.5M | ||
| Q3 25 | $583.9M | $85.6M | ||
| Q2 25 | $440.8M | $92.9M | ||
| Q1 25 | $396.4M | $105.2M | ||
| Q4 24 | — | $83.2M | ||
| Q3 24 | $322.1M | $77.5M | ||
| Q2 24 | $241.0M | $63.8M |
| Q1 26 | — | $272.0M | ||
| Q4 25 | $1.4B | $271.8M | ||
| Q3 25 | $1.1B | $238.3M | ||
| Q2 25 | $912.0M | $242.5M | ||
| Q1 25 | $855.9M | $231.1M | ||
| Q4 24 | — | $212.5M | ||
| Q3 24 | $656.0M | $194.6M | ||
| Q2 24 | $555.9M | $178.6M |
| Q1 26 | — | $383.1M | ||
| Q4 25 | $11.7B | $397.7M | ||
| Q3 25 | $9.1B | $343.5M | ||
| Q2 25 | $7.6B | $357.1M | ||
| Q1 25 | $7.3B | $333.8M | ||
| Q4 24 | — | $338.7M | ||
| Q3 24 | $5.9B | $289.3M | ||
| Q2 24 | $4.9B | $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 | $120.4M | $28.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.16× | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $28.2M | ||
| Q4 25 | $120.4M | $12.6M | ||
| Q3 25 | $28.0M | $11.3M | ||
| Q2 25 | $18.4M | $6.2M | ||
| Q1 25 | $25.8M | $29.4M | ||
| Q4 24 | — | $12.4M | ||
| Q3 24 | $-14.8M | $14.0M | ||
| Q2 24 | $19.3M | $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 | 1.16× | 0.29× | ||
| Q3 25 | 0.39× | 1.74× | ||
| Q2 25 | — | 0.75× | ||
| Q1 25 | 1.51× | 2.02× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | -0.86× | 1.69× | ||
| Q2 24 | — | 0.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ORC
Segment breakdown not available.
OSPN
| Product and license | $35.5M | 54% |
| Services and other | $30.4M | 46% |
