OneSpan adds two cybersecurity acquisitions, faces tariff headwinds and margin pressure

Filed April 30, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 1, 2025 · ~1 min read

Key Changes

• high

  Completed two acquisitions in past year: Nok Nok Labs (June 2025, passwordless authentication) and Build38 (February 2026, mobile app protection) for $37.8M cash, expanding cybersecurity capabilities but compressing margins.

  MD&A: Acquisitions verify on EDGAR →
• high

  New tariff risk disclosed: Digipass hardware assembled in China faces high U.S. tariffs. Company shifting production to Romania but acknowledges mitigation measures unlikely to fully offset near-term cost impact.

  MD&A: Tariff Risk verify on EDGAR →
• high

  Cybersecurity operating income fell 14% year-over-year to $20.8M despite flat gross profit, driven by higher sales, marketing, and R&D expenses from acquisitions and organic investment.

  MD&A: Segment Performance verify on EDGAR →