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Side-by-side financial comparison of OneSpan Inc. (OSPN) and Ouster, Inc. (OUST). Click either name above to swap in a different company.
OneSpan Inc. is the larger business by last-quarter revenue ($65.9M vs $62.2M, roughly 1.1× Ouster, Inc.). OneSpan Inc. runs the higher net margin — 17.5% vs 6.4%, a 11.1% gap on every dollar of revenue. On growth, Ouster, Inc. posted the faster year-over-year revenue change (106.6% vs 4.1%). Over the past eight quarters, Ouster, Inc.'s revenue compounded faster (51.8% CAGR vs 4.0%).
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.
Ouster, Inc. is an American lidar technology company headquartered in San Francisco, California. It builds high-resolution, digital 3D lidar sensors for use in autonomous vehicles, industrial, robotics, drones, mapping, defense, and security systems.
OSPN vs OUST — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $65.9M | $62.2M |
| Net Profit | $11.6M | $4.0M |
| Gross Margin | 73.6% | 60.2% |
| Operating Margin | 22.5% | 41.2% |
| Net Margin | 17.5% | 6.4% |
| Revenue YoY | 4.1% | 106.6% |
| Net Profit YoY | — | — |
| EPS (diluted) | $0.39 | $0.06 |
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 | $62.2M | ||
| Q4 25 | $62.9M | $62.2M | ||
| Q3 25 | $57.1M | $39.5M | ||
| Q2 25 | $59.8M | $35.0M | ||
| Q1 25 | $63.4M | $32.6M | ||
| Q4 24 | $61.2M | $30.1M | ||
| Q3 24 | $56.2M | $28.1M | ||
| Q2 24 | $60.9M | $27.0M |
| Q1 26 | $11.6M | $4.0M | ||
| Q4 25 | $43.5M | — | ||
| Q3 25 | $6.5M | $-21.7M | ||
| Q2 25 | $8.3M | $-20.6M | ||
| Q1 25 | $14.5M | $-22.0M | ||
| Q4 24 | $28.8M | — | ||
| Q3 24 | $8.3M | $-25.6M | ||
| Q2 24 | $6.6M | $-23.9M |
| Q1 26 | 73.6% | 60.2% | ||
| Q4 25 | 73.6% | 60.2% | ||
| Q3 25 | 73.6% | 42.1% | ||
| Q2 25 | 73.5% | 45.2% | ||
| Q1 25 | 74.3% | 41.3% | ||
| Q4 24 | 74.0% | 43.8% | ||
| Q3 24 | 73.9% | 38.3% | ||
| Q2 24 | 66.2% | 33.7% |
| Q1 26 | 22.5% | 41.2% | ||
| Q4 25 | 19.9% | 1.5% | ||
| Q3 25 | 14.4% | -61.4% | ||
| Q2 25 | 17.6% | -76.5% | ||
| Q1 25 | 27.1% | -73.0% | ||
| Q4 24 | 19.3% | -85.1% | ||
| Q3 24 | 20.0% | -98.0% | ||
| Q2 24 | 12.5% | -93.6% |
| Q1 26 | 17.5% | 6.4% | ||
| Q4 25 | 69.2% | — | ||
| Q3 25 | 11.4% | -55.0% | ||
| Q2 25 | 13.9% | -58.8% | ||
| Q1 25 | 22.9% | -67.5% | ||
| Q4 24 | 47.1% | — | ||
| Q3 24 | 14.7% | -91.1% | ||
| Q2 24 | 10.8% | -88.4% |
| Q1 26 | $0.39 | $0.06 | ||
| Q4 25 | $1.13 | $0.10 | ||
| Q3 25 | $0.17 | $-0.37 | ||
| Q2 25 | $0.21 | $-0.38 | ||
| Q1 25 | $0.37 | $-0.42 | ||
| Q4 24 | $0.73 | $-0.46 | ||
| Q3 24 | $0.21 | $-0.54 | ||
| Q2 24 | $0.17 | $-0.53 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $49.8M | $208.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $272.0M | $261.7M |
| Total Assets | $383.1M | $349.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $49.8M | $208.6M | ||
| Q4 25 | $70.5M | $208.6M | ||
| Q3 25 | $85.6M | $244.5M | ||
| Q2 25 | $92.9M | $226.5M | ||
| Q1 25 | $105.2M | $168.2M | ||
| Q4 24 | $83.2M | $172.0M | ||
| Q3 24 | $77.5M | $151.4M | ||
| Q2 24 | $63.8M | $184.2M |
| Q1 26 | $272.0M | $261.7M | ||
| Q4 25 | $271.8M | $261.7M | ||
| Q3 25 | $238.3M | $247.4M | ||
| Q2 25 | $242.5M | $221.0M | ||
| Q1 25 | $231.1M | $167.9M | ||
| Q4 24 | $212.5M | $180.9M | ||
| Q3 24 | $194.6M | $171.7M | ||
| Q2 24 | $178.6M | $170.6M |
| Q1 26 | $383.1M | $349.5M | ||
| Q4 25 | $397.7M | $349.5M | ||
| Q3 25 | $343.5M | $353.8M | ||
| Q2 25 | $357.1M | $321.8M | ||
| Q1 25 | $333.8M | $268.6M | ||
| Q4 24 | $338.7M | $276.1M | ||
| Q3 24 | $289.3M | $255.2M | ||
| Q2 24 | $286.9M | $309.9M |
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 | $-15.4M | ||
| Q3 25 | $11.3M | $-18.3M | ||
| Q2 25 | $6.2M | $-1.3M | ||
| Q1 25 | $29.4M | $-4.9M | ||
| Q4 24 | $12.4M | $-2.6M | ||
| Q3 24 | $14.0M | $-3.8M | ||
| Q2 24 | $2.3M | $-21.6M |
| Q1 26 | — | — | ||
| Q4 25 | $9.6M | $-37.2M | ||
| Q3 25 | $8.8M | $-20.0M | ||
| Q2 25 | $4.4M | $-2.2M | ||
| Q1 25 | $27.7M | $-5.4M | ||
| Q4 24 | $10.5M | $-4.0M | ||
| Q3 24 | $12.0M | $-4.3M | ||
| Q2 24 | $26.0K | $-22.0M |
| Q1 26 | — | — | ||
| Q4 25 | 15.3% | -59.8% | ||
| Q3 25 | 15.4% | -50.7% | ||
| Q2 25 | 7.3% | -6.3% | ||
| Q1 25 | 43.8% | -16.6% | ||
| Q4 24 | 17.1% | -13.3% | ||
| Q3 24 | 21.4% | -15.4% | ||
| Q2 24 | 0.0% | -81.5% |
| Q1 26 | — | — | ||
| Q4 25 | 4.7% | 35.0% | ||
| Q3 25 | 4.4% | 4.3% | ||
| Q2 25 | 3.1% | 2.5% | ||
| Q1 25 | 2.6% | 1.7% | ||
| Q4 24 | 3.2% | 4.8% | ||
| Q3 24 | 3.5% | 2.0% | ||
| Q2 24 | 3.7% | 1.3% |
| 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
OSPN
| Product and license | $35.5M | 54% |
| Services and other | $30.4M | 46% |
OUST
| Product revenue | $41.0M | 66% |
| Royalties | $21.2M | 34% |
