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Side-by-side financial comparison of OneSpan Inc. (OSPN) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $65.9M, roughly 1.5× OneSpan Inc.). OneSpan Inc. runs the higher net margin — 17.5% vs -7.0%, a 24.6% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs 4.1%). Over the past eight quarters, OneSpan Inc.'s revenue compounded faster (4.0% CAGR vs -4.9%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
OSPN vs SWIM — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $65.9M | $100.0M |
| Net Profit | $11.6M | $-7.0M |
| Gross Margin | 73.6% | 28.0% |
| Operating Margin | 22.5% | -10.7% |
| Net Margin | 17.5% | -7.0% |
| Revenue YoY | 4.1% | 14.5% |
| Net Profit YoY | — | 76.0% |
| 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 | — | ||
| Q4 25 | $62.9M | $100.0M | ||
| Q3 25 | $57.1M | $161.9M | ||
| Q2 25 | $59.8M | $172.6M | ||
| Q1 25 | $63.4M | $111.4M | ||
| Q4 24 | $61.2M | $87.3M | ||
| Q3 24 | $56.2M | $150.5M | ||
| Q2 24 | $60.9M | $160.1M |
| Q1 26 | $11.6M | — | ||
| Q4 25 | $43.5M | $-7.0M | ||
| Q3 25 | $6.5M | $8.1M | ||
| Q2 25 | $8.3M | $16.0M | ||
| Q1 25 | $14.5M | $-6.0M | ||
| Q4 24 | $28.8M | $-29.2M | ||
| Q3 24 | $8.3M | $5.9M | ||
| Q2 24 | $6.6M | $13.3M |
| Q1 26 | 73.6% | — | ||
| Q4 25 | 73.6% | 28.0% | ||
| Q3 25 | 73.6% | 35.4% | ||
| Q2 25 | 73.5% | 37.1% | ||
| Q1 25 | 74.3% | 29.5% | ||
| Q4 24 | 74.0% | 24.6% | ||
| Q3 24 | 73.9% | 32.4% | ||
| Q2 24 | 66.2% | 33.1% |
| Q1 26 | 22.5% | — | ||
| Q4 25 | 19.9% | -10.7% | ||
| Q3 25 | 14.4% | 13.3% | ||
| Q2 25 | 17.6% | 14.3% | ||
| Q1 25 | 27.1% | -4.4% | ||
| Q4 24 | 19.3% | -14.9% | ||
| Q3 24 | 20.0% | 8.9% | ||
| Q2 24 | 12.5% | 12.5% |
| Q1 26 | 17.5% | — | ||
| Q4 25 | 69.2% | -7.0% | ||
| Q3 25 | 11.4% | 5.0% | ||
| Q2 25 | 13.9% | 9.3% | ||
| Q1 25 | 22.9% | -5.4% | ||
| Q4 24 | 47.1% | -33.4% | ||
| Q3 24 | 14.7% | 3.9% | ||
| Q2 24 | 10.8% | 8.3% |
| Q1 26 | $0.39 | — | ||
| Q4 25 | $1.13 | $-0.06 | ||
| Q3 25 | $0.17 | $0.07 | ||
| Q2 25 | $0.21 | $0.13 | ||
| Q1 25 | $0.37 | $-0.05 | ||
| Q4 24 | $0.73 | $-0.24 | ||
| Q3 24 | $0.21 | $0.05 | ||
| Q2 24 | $0.17 | $0.11 |
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 | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $272.0M | $405.9M |
| Total Assets | $383.1M | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
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 | — | — | ||
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M |
| Q1 26 | $272.0M | — | ||
| Q4 25 | $271.8M | $405.9M | ||
| Q3 25 | $238.3M | $408.4M | ||
| Q2 25 | $242.5M | $398.4M | ||
| Q1 25 | $231.1M | $381.1M | ||
| Q4 24 | $212.5M | $387.2M | ||
| Q3 24 | $194.6M | $416.6M | ||
| Q2 24 | $178.6M | $408.1M |
| Q1 26 | $383.1M | — | ||
| Q4 25 | $397.7M | $823.2M | ||
| Q3 25 | $343.5M | $844.4M | ||
| Q2 25 | $357.1M | $822.1M | ||
| Q1 25 | $333.8M | $824.6M | ||
| Q4 24 | $338.7M | $794.2M | ||
| Q3 24 | $289.3M | $853.4M | ||
| Q2 24 | $286.9M | $830.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | — | $14.1M |
| FCF MarginFCF / Revenue | — | 14.1% |
| Capex IntensityCapex / Revenue | — | 9.2% |
| Cash ConversionOCF / Net Profit | 2.44× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $28.2M | — | ||
| Q4 25 | $12.6M | $23.3M | ||
| Q3 25 | $11.3M | $51.0M | ||
| Q2 25 | $6.2M | $36.0M | ||
| Q1 25 | $29.4M | $-46.9M | ||
| Q4 24 | $12.4M | $6.2M | ||
| Q3 24 | $14.0M | $37.2M | ||
| Q2 24 | $2.3M | $52.4M |
| Q1 26 | — | — | ||
| Q4 25 | $9.6M | $14.1M | ||
| Q3 25 | $8.8M | $45.2M | ||
| Q2 25 | $4.4M | $29.1M | ||
| Q1 25 | $27.7M | $-50.3M | ||
| Q4 24 | $10.5M | $-98.0K | ||
| Q3 24 | $12.0M | $33.2M | ||
| Q2 24 | $26.0K | $47.9M |
| Q1 26 | — | — | ||
| Q4 25 | 15.3% | 14.1% | ||
| Q3 25 | 15.4% | 27.9% | ||
| Q2 25 | 7.3% | 16.8% | ||
| Q1 25 | 43.8% | -45.2% | ||
| Q4 24 | 17.1% | -0.1% | ||
| Q3 24 | 21.4% | 22.1% | ||
| Q2 24 | 0.0% | 29.9% |
| Q1 26 | — | — | ||
| Q4 25 | 4.7% | 9.2% | ||
| Q3 25 | 4.4% | 3.6% | ||
| Q2 25 | 3.1% | 4.0% | ||
| Q1 25 | 2.6% | 3.1% | ||
| Q4 24 | 3.2% | 7.2% | ||
| Q3 24 | 3.5% | 2.7% | ||
| Q2 24 | 3.7% | 2.8% |
| Q1 26 | 2.44× | — | ||
| Q4 25 | 0.29× | — | ||
| Q3 25 | 1.74× | 6.29× | ||
| Q2 25 | 0.75× | 2.25× | ||
| Q1 25 | 2.02× | — | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 1.69× | 6.32× | ||
| Q2 24 | 0.35× | 3.95× |
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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
