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Side-by-side financial comparison of OneSpan Inc. (OSPN) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
Safehold Inc. is the larger business by last-quarter revenue ($97.9M vs $65.9M, roughly 1.5× OneSpan Inc.). Safehold Inc. runs the higher net margin — 28.5% vs 17.5%, a 10.9% gap on every dollar of revenue. On growth, Safehold Inc. posted the faster year-over-year revenue change (6.5% vs 4.1%). Over the past eight quarters, OneSpan Inc.'s revenue compounded faster (4.0% CAGR vs 2.5%).
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.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
OSPN vs SAFE — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $65.9M | $97.9M |
| Net Profit | $11.6M | $27.9M |
| Gross Margin | 73.6% | 98.6% |
| Operating Margin | 22.5% | 27.4% |
| Net Margin | 17.5% | 28.5% |
| Revenue YoY | 4.1% | 6.5% |
| Net Profit YoY | — | 7.1% |
| EPS (diluted) | $0.39 | $0.38 |
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 | $97.9M | ||
| Q3 25 | $57.1M | $96.2M | ||
| Q2 25 | $59.8M | $93.8M | ||
| Q1 25 | $63.4M | $97.7M | ||
| Q4 24 | $61.2M | $91.9M | ||
| Q3 24 | $56.2M | $90.7M | ||
| Q2 24 | $60.9M | $89.9M |
| Q1 26 | $11.6M | — | ||
| Q4 25 | $43.5M | $27.9M | ||
| Q3 25 | $6.5M | $29.3M | ||
| Q2 25 | $8.3M | $27.9M | ||
| Q1 25 | $14.5M | $29.4M | ||
| Q4 24 | $28.8M | $26.0M | ||
| Q3 24 | $8.3M | $19.3M | ||
| Q2 24 | $6.6M | $29.7M |
| Q1 26 | 73.6% | — | ||
| Q4 25 | 73.6% | 98.6% | ||
| Q3 25 | 73.6% | 98.5% | ||
| Q2 25 | 73.5% | 99.1% | ||
| Q1 25 | 74.3% | 98.8% | ||
| Q4 24 | 74.0% | 98.8% | ||
| Q3 24 | 73.9% | 98.8% | ||
| Q2 24 | 66.2% | 98.8% |
| Q1 26 | 22.5% | — | ||
| Q4 25 | 19.9% | 27.4% | ||
| Q3 25 | 14.4% | 25.9% | ||
| Q2 25 | 17.6% | 25.5% | ||
| Q1 25 | 27.1% | 25.9% | ||
| Q4 24 | 19.3% | 24.6% | ||
| Q3 24 | 20.0% | 17.5% | ||
| Q2 24 | 12.5% | 26.7% |
| Q1 26 | 17.5% | — | ||
| Q4 25 | 69.2% | 28.5% | ||
| Q3 25 | 11.4% | 30.5% | ||
| Q2 25 | 13.9% | 29.8% | ||
| Q1 25 | 22.9% | 30.1% | ||
| Q4 24 | 47.1% | 28.3% | ||
| Q3 24 | 14.7% | 21.3% | ||
| Q2 24 | 10.8% | 33.0% |
| Q1 26 | $0.39 | — | ||
| Q4 25 | $1.13 | $0.38 | ||
| Q3 25 | $0.17 | $0.41 | ||
| Q2 25 | $0.21 | $0.39 | ||
| Q1 25 | $0.37 | $0.41 | ||
| Q4 24 | $0.73 | $0.36 | ||
| Q3 24 | $0.21 | $0.27 | ||
| Q2 24 | $0.17 | $0.42 |
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 | $21.7M |
| Total DebtLower is stronger | — | $4.6B |
| Stockholders' EquityBook value | $272.0M | $2.4B |
| Total Assets | $383.1M | $7.2B |
| Debt / EquityLower = less leverage | — | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $49.8M | — | ||
| Q4 25 | $70.5M | $21.7M | ||
| Q3 25 | $85.6M | $12.1M | ||
| Q2 25 | $92.9M | $13.9M | ||
| Q1 25 | $105.2M | $17.3M | ||
| Q4 24 | $83.2M | $8.3M | ||
| Q3 24 | $77.5M | $15.6M | ||
| Q2 24 | $63.8M | $13.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B |
| Q1 26 | $272.0M | — | ||
| Q4 25 | $271.8M | $2.4B | ||
| Q3 25 | $238.3M | $2.4B | ||
| Q2 25 | $242.5M | $2.4B | ||
| Q1 25 | $231.1M | $2.4B | ||
| Q4 24 | $212.5M | $2.3B | ||
| Q3 24 | $194.6M | $2.3B | ||
| Q2 24 | $178.6M | $2.3B |
| Q1 26 | $383.1M | — | ||
| Q4 25 | $397.7M | $7.2B | ||
| Q3 25 | $343.5M | $7.1B | ||
| Q2 25 | $357.1M | $7.1B | ||
| Q1 25 | $333.8M | $6.9B | ||
| Q4 24 | $338.7M | $6.9B | ||
| Q3 24 | $289.3M | $6.8B | ||
| Q2 24 | $286.9M | $6.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.90× | ||
| Q3 25 | — | 1.89× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | — | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× |
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 | $47.8M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 2.44× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $28.2M | — | ||
| Q4 25 | $12.6M | $47.8M | ||
| Q3 25 | $11.3M | $-1.4M | ||
| Q2 25 | $6.2M | $28.0M | ||
| Q1 25 | $29.4M | $8.9M | ||
| Q4 24 | $12.4M | $37.9M | ||
| Q3 24 | $14.0M | $8.3M | ||
| Q2 24 | $2.3M | $24.8M |
| 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× | 1.72× | ||
| Q3 25 | 1.74× | -0.05× | ||
| Q2 25 | 0.75× | 1.00× | ||
| Q1 25 | 2.02× | 0.30× | ||
| Q4 24 | 0.43× | 1.45× | ||
| Q3 24 | 1.69× | 0.43× | ||
| Q2 24 | 0.35× | 0.83× |
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% |
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
