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Side-by-side financial comparison of OneSpan Inc. (OSPN) and QUALYS, INC. (QLYS). Click either name above to swap in a different company.
QUALYS, INC. is the larger business by last-quarter revenue ($175.3M vs $62.9M, roughly 2.8× OneSpan Inc.). OneSpan Inc. runs the higher net margin — 69.2% vs 30.3%, a 38.9% gap on every dollar of revenue. On growth, QUALYS, INC. posted the faster year-over-year revenue change (10.1% vs 2.9%). QUALYS, INC. produced more free cash flow last quarter ($74.9M vs $9.6M). Over the past eight quarters, QUALYS, INC.'s revenue compounded faster (9.6% CAGR vs -1.5%).
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.
Qualys, Inc. is an American technology firm based in Foster City, California, specializing in cloud security, compliance and related services.
OSPN vs QLYS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $62.9M | $175.3M |
| Net Profit | $43.5M | $53.1M |
| Gross Margin | 73.6% | 83.4% |
| Operating Margin | 19.9% | 33.6% |
| Net Margin | 69.2% | 30.3% |
| Revenue YoY | 2.9% | 10.1% |
| Net Profit YoY | 51.3% | 20.9% |
| EPS (diluted) | $1.13 | $1.47 |
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.
| Q4 25 | $62.9M | $175.3M | ||
| Q3 25 | $57.1M | $169.9M | ||
| Q2 25 | $59.8M | $164.1M | ||
| Q1 25 | $63.4M | $159.9M | ||
| Q4 24 | $61.2M | $159.2M | ||
| Q3 24 | $56.2M | $153.9M | ||
| Q2 24 | $60.9M | $148.7M | ||
| Q1 24 | $64.8M | $145.8M |
| Q4 25 | $43.5M | $53.1M | ||
| Q3 25 | $6.5M | $50.3M | ||
| Q2 25 | $8.3M | $47.3M | ||
| Q1 25 | $14.5M | $47.5M | ||
| Q4 24 | $28.8M | $44.0M | ||
| Q3 24 | $8.3M | $46.2M | ||
| Q2 24 | $6.6M | $43.8M | ||
| Q1 24 | $13.5M | $39.7M |
| Q4 25 | 73.6% | 83.4% | ||
| Q3 25 | 73.6% | 83.6% | ||
| Q2 25 | 73.5% | 82.4% | ||
| Q1 25 | 74.3% | 81.9% | ||
| Q4 24 | 74.0% | 81.8% | ||
| Q3 24 | 73.9% | 81.3% | ||
| Q2 24 | 66.2% | 82.2% | ||
| Q1 24 | 73.1% | 81.3% |
| Q4 25 | 19.9% | 33.6% | ||
| Q3 25 | 14.4% | 35.3% | ||
| Q2 25 | 17.6% | 31.3% | ||
| Q1 25 | 27.1% | 32.4% | ||
| Q4 24 | 19.3% | 31.0% | ||
| Q3 24 | 20.0% | 29.2% | ||
| Q2 24 | 12.5% | 32.3% | ||
| Q1 24 | 21.8% | 30.7% |
| Q4 25 | 69.2% | 30.3% | ||
| Q3 25 | 11.4% | 29.6% | ||
| Q2 25 | 13.9% | 28.8% | ||
| Q1 25 | 22.9% | 29.7% | ||
| Q4 24 | 47.1% | 27.6% | ||
| Q3 24 | 14.7% | 30.0% | ||
| Q2 24 | 10.8% | 29.4% | ||
| Q1 24 | 20.8% | 27.2% |
| Q4 25 | $1.13 | $1.47 | ||
| Q3 25 | $0.17 | $1.39 | ||
| Q2 25 | $0.21 | $1.29 | ||
| Q1 25 | $0.37 | $1.29 | ||
| Q4 24 | $0.73 | $1.19 | ||
| Q3 24 | $0.21 | $1.24 | ||
| Q2 24 | $0.17 | $1.17 | ||
| Q1 24 | $0.35 | $1.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $70.5M | $250.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $271.8M | $561.2M |
| Total Assets | $397.7M | $1.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $70.5M | $250.3M | ||
| Q3 25 | $85.6M | $225.3M | ||
| Q2 25 | $92.9M | $194.0M | ||
| Q1 25 | $105.2M | $290.7M | ||
| Q4 24 | $83.2M | $232.2M | ||
| Q3 24 | $77.5M | $235.4M | ||
| Q2 24 | $63.8M | $281.2M | ||
| Q1 24 | $63.9M | $273.8M |
| Q4 25 | $271.8M | $561.2M | ||
| Q3 25 | $238.3M | $529.4M | ||
| Q2 25 | $242.5M | $508.2M | ||
| Q1 25 | $231.1M | $498.0M | ||
| Q4 24 | $212.5M | $477.1M | ||
| Q3 24 | $194.6M | $449.6M | ||
| Q2 24 | $178.6M | $427.8M | ||
| Q1 24 | $170.9M | $404.2M |
| Q4 25 | $397.7M | $1.1B | ||
| Q3 25 | $343.5M | $1.0B | ||
| Q2 25 | $357.1M | $999.5M | ||
| Q1 25 | $333.8M | $996.5M | ||
| Q4 24 | $338.7M | $973.5M | ||
| Q3 24 | $289.3M | $908.3M | ||
| Q2 24 | $286.9M | $876.6M | ||
| Q1 24 | $277.1M | $861.8M |
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 | $12.6M | $75.7M |
| Free Cash FlowOCF − Capex | $9.6M | $74.9M |
| FCF MarginFCF / Revenue | 15.3% | 42.8% |
| Capex IntensityCapex / Revenue | 4.7% | 0.4% |
| Cash ConversionOCF / Net Profit | 0.29× | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | $50.5M | $304.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.6M | $75.7M | ||
| Q3 25 | $11.3M | $90.4M | ||
| Q2 25 | $6.2M | $33.8M | ||
| Q1 25 | $29.4M | $109.6M | ||
| Q4 24 | $12.4M | $47.7M | ||
| Q3 24 | $14.0M | $61.0M | ||
| Q2 24 | $2.3M | $49.8M | ||
| Q1 24 | $27.0M | $85.5M |
| Q4 25 | $9.6M | $74.9M | ||
| Q3 25 | $8.8M | $89.5M | ||
| Q2 25 | $4.4M | $32.4M | ||
| Q1 25 | $27.7M | $107.5M | ||
| Q4 24 | $10.5M | $41.9M | ||
| Q3 24 | $12.0M | $57.6M | ||
| Q2 24 | $26.0K | $48.8M | ||
| Q1 24 | $23.9M | $83.5M |
| Q4 25 | 15.3% | 42.8% | ||
| Q3 25 | 15.4% | 52.7% | ||
| Q2 25 | 7.3% | 19.8% | ||
| Q1 25 | 43.8% | 67.3% | ||
| Q4 24 | 17.1% | 26.3% | ||
| Q3 24 | 21.4% | 37.4% | ||
| Q2 24 | 0.0% | 32.8% | ||
| Q1 24 | 36.9% | 57.2% |
| Q4 25 | 4.7% | 0.4% | ||
| Q3 25 | 4.4% | 0.5% | ||
| Q2 25 | 3.1% | 0.8% | ||
| Q1 25 | 2.6% | 1.3% | ||
| Q4 24 | 3.2% | 3.7% | ||
| Q3 24 | 3.5% | 2.2% | ||
| Q2 24 | 3.7% | 0.7% | ||
| Q1 24 | 4.7% | 1.4% |
| Q4 25 | 0.29× | 1.42× | ||
| Q3 25 | 1.74× | 1.80× | ||
| Q2 25 | 0.75× | 0.71× | ||
| Q1 25 | 2.02× | 2.31× | ||
| Q4 24 | 0.43× | 1.09× | ||
| Q3 24 | 1.69× | 1.32× | ||
| Q2 24 | 0.35× | 1.14× | ||
| Q1 24 | 2.00× | 2.15× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OSPN
| Transferred At Point In Time | $32.7M | 52% |
| Subscription | $21.1M | 34% |
| Maintenance Support And Other | $9.2M | 15% |
QLYS
| Sales Channel Through Intermediary | $88.6M | 51% |
| Sales Channel Directly To Consumer | $86.7M | 49% |
