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OneSpan Inc.（OSPN）与Repay Holdings Corp（RPAY）财务数据对比。点击上方公司名可切换其他公司
Repay Holdings Corp的季度营收约是OneSpan Inc.的1.2倍（$78.6M vs $65.9M），OneSpan Inc.净利率更高（17.5% vs -178.3%，领先195.8%），OneSpan Inc.同比增速更快（4.1% vs 0.4%），过去两年OneSpan Inc.的营收复合增速更高（4.0% vs -1.3%）
OneSpan Inc.是一家总部位于美国马萨诸塞州波士顿的信息安全企业，核心业务涵盖网络欺诈防御平台搭建、多因素身份验证工具提供以及电子签名软件开发，为各类机构提供专业的数字安全与身份合规管理解决方案。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
OSPN vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.2倍
$65.9M
营收增速更快
OSPN
高出3.7%
0.4%
净利率更高
OSPN
高出195.8%
-178.3%
两年增速更快
OSPN
近两年复合增速
-1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $65.9M | $78.6M |
| 净利润 | $11.6M | $-140.1M |
| 毛利率 | 73.6% | 74.2% |
| 营业利润率 | 22.5% | -182.2% |
| 净利率 | 17.5% | -178.3% |
| 营收同比 | 4.1% | 0.4% |
| 净利润同比 | — | -3304.1% |
| 每股收益（稀释后） | $0.39 | $-1.68 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收OSPNRPAY
| Q1 26 | $65.9M | — | ||
| Q4 25 | $62.9M | $78.6M | ||
| Q3 25 | $57.1M | $77.7M | ||
| Q2 25 | $59.8M | $75.6M | ||
| Q1 25 | $63.4M | $77.3M | ||
| Q4 24 | $61.2M | $78.3M | ||
| Q3 24 | $56.2M | $79.1M | ||
| Q2 24 | $60.9M | $74.9M |
净利润OSPNRPAY
| Q1 26 | $11.6M | — | ||
| Q4 25 | $43.5M | $-140.1M | ||
| Q3 25 | $6.5M | $-6.4M | ||
| Q2 25 | $8.3M | $-102.3M | ||
| Q1 25 | $14.5M | $-7.9M | ||
| Q4 24 | $28.8M | $-4.1M | ||
| Q3 24 | $8.3M | $3.2M | ||
| Q2 24 | $6.6M | $-4.1M |
毛利率OSPNRPAY
| Q1 26 | 73.6% | — | ||
| Q4 25 | 73.6% | 74.2% | ||
| Q3 25 | 73.6% | 74.4% | ||
| Q2 25 | 73.5% | 75.7% | ||
| Q1 25 | 74.3% | 75.9% | ||
| Q4 24 | 74.0% | 76.3% | ||
| Q3 24 | 73.9% | 77.8% | ||
| Q2 24 | 66.2% | 78.2% |
营业利润率OSPNRPAY
| Q1 26 | 22.5% | — | ||
| Q4 25 | 19.9% | -182.2% | ||
| Q3 25 | 14.4% | -3.9% | ||
| Q2 25 | 17.6% | -138.7% | ||
| Q1 25 | 27.1% | -4.7% | ||
| Q4 24 | 19.3% | -1.5% | ||
| Q3 24 | 20.0% | -0.9% | ||
| Q2 24 | 12.5% | -4.6% |
净利率OSPNRPAY
| Q1 26 | 17.5% | — | ||
| Q4 25 | 69.2% | -178.3% | ||
| Q3 25 | 11.4% | -8.3% | ||
| Q2 25 | 13.9% | -135.2% | ||
| Q1 25 | 22.9% | -10.3% | ||
| Q4 24 | 47.1% | -5.3% | ||
| Q3 24 | 14.7% | 4.1% | ||
| Q2 24 | 10.8% | -5.4% |
每股收益（稀释后）OSPNRPAY
| Q1 26 | $0.39 | — | ||
| Q4 25 | $1.13 | $-1.68 | ||
| Q3 25 | $0.17 | $-0.08 | ||
| Q2 25 | $0.21 | $-1.15 | ||
| Q1 25 | $0.37 | $-0.09 | ||
| Q4 24 | $0.73 | $-0.04 | ||
| Q3 24 | $0.21 | $0.03 | ||
| Q2 24 | $0.17 | $-0.04 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $49.8M | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $272.0M | $484.4M |
| 总资产 | $383.1M | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资OSPNRPAY
| Q1 26 | $49.8M | — | ||
| Q4 25 | $70.5M | $115.7M | ||
| Q3 25 | $85.6M | $95.7M | ||
| Q2 25 | $92.9M | $162.6M | ||
| Q1 25 | $105.2M | $165.5M | ||
| Q4 24 | $83.2M | $189.5M | ||
| Q3 24 | $77.5M | $168.7M | ||
| Q2 24 | $63.8M | $147.1M |
总债务OSPNRPAY
| Q1 26 | — | — | ||
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M |
股东权益OSPNRPAY
| Q1 26 | $272.0M | — | ||
| Q4 25 | $271.8M | $484.4M | ||
| Q3 25 | $238.3M | $616.9M | ||
| Q2 25 | $242.5M | $633.7M | ||
| Q1 25 | $231.1M | $755.7M | ||
| Q4 24 | $212.5M | $761.3M | ||
| Q3 24 | $194.6M | $754.7M | ||
| Q2 24 | $178.6M | $815.4M |
总资产OSPNRPAY
| Q1 26 | $383.1M | — | ||
| Q4 25 | $397.7M | $1.2B | ||
| Q3 25 | $343.5M | $1.3B | ||
| Q2 25 | $357.1M | $1.4B | ||
| Q1 25 | $333.8M | $1.5B | ||
| Q4 24 | $338.7M | $1.6B | ||
| Q3 24 | $289.3M | $1.6B | ||
| Q2 24 | $286.9M | $1.5B |
负债/权益比OSPNRPAY
| Q1 26 | — | — | ||
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $28.2M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | — | $23.2M |
| 自由现金流率自由现金流/营收 | — | 29.6% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 现金转化率经营现金流/净利润 | 2.44× | — |
| 过去12个月自由现金流最近4个季度 | — | $90.7M |
8季度趋势，按日历期对齐
经营现金流OSPNRPAY
| Q1 26 | $28.2M | — | ||
| Q4 25 | $12.6M | $23.3M | ||
| Q3 25 | $11.3M | $32.2M | ||
| Q2 25 | $6.2M | $33.1M | ||
| Q1 25 | $29.4M | $2.5M | ||
| Q4 24 | $12.4M | $34.3M | ||
| Q3 24 | $14.0M | $60.1M | ||
| Q2 24 | $2.3M | $31.0M |
自由现金流OSPNRPAY
| Q1 26 | — | — | ||
| Q4 25 | $9.6M | $23.2M | ||
| Q3 25 | $8.8M | $32.1M | ||
| Q2 25 | $4.4M | $33.0M | ||
| Q1 25 | $27.7M | $2.4M | ||
| Q4 24 | $10.5M | $34.0M | ||
| Q3 24 | $12.0M | $59.8M | ||
| Q2 24 | $26.0K | $30.5M |
自由现金流率OSPNRPAY
| Q1 26 | — | — | ||
| Q4 25 | 15.3% | 29.6% | ||
| Q3 25 | 15.4% | 41.3% | ||
| Q2 25 | 7.3% | 43.6% | ||
| Q1 25 | 43.8% | 3.0% | ||
| Q4 24 | 17.1% | 43.5% | ||
| Q3 24 | 21.4% | 75.6% | ||
| Q2 24 | 0.0% | 40.7% |
资本支出强度OSPNRPAY
| Q1 26 | — | — | ||
| Q4 25 | 4.7% | 0.1% | ||
| Q3 25 | 4.4% | 0.2% | ||
| Q2 25 | 3.1% | 0.1% | ||
| Q1 25 | 2.6% | 0.2% | ||
| Q4 24 | 3.2% | 0.3% | ||
| Q3 24 | 3.5% | 0.3% | ||
| Q2 24 | 3.7% | 0.6% |
现金转化率OSPNRPAY
| 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× | 18.52× | ||
| Q2 24 | 0.35× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
OSPN
| Product and license | $35.5M | 54% |
| Services and other | $30.4M | 46% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
