Last mentioned: Feb 27, 2026
Build38 Acquisition
Expected closing date for the acquisition of mobile app security specialist Build38.
Q4 Earnings Release
Management announces 11.5% ARR growth and confirms the pivot toward a software-first business model.
Fiscal Year End
Company achieves $187 million in total ARR, with software and services rising to 74% gross margin.
M&A Expansion
OneSpan completes the acquisitions of Knock Knock and ThreatFabric to bolster passwordless and fraud detection capabilities.
The Q4 2025 earnings cycle highlights a decisive shift toward high-margin recurring revenue models across the SaaS and Cloud sectors. Companies like OneSpan, Thryv, and Butterfly Network are successfully transitioning from legacy hardware and services to integrated software platforms, bolstered by AI and embedded technology.
The Q4 2025 earnings season has highlighted a decisive shift toward capital-light business models and AI-integrated product lines, with fintech and med-tech sectors leading the charge. While legacy firms face headwinds from ERP transitions and global tariffs, agile platforms like Figure and Butterfly Network are reporting record volumes and significant margin expansion.
OneSpan reported a strategic shift toward recurring software revenue, with cybersecurity ARR growing 12% to $187 million. The company is aggressively consolidating its mobile security portfolio through the acquisitions of Knock Knock, ThreatFabric, and the pending Build38 deal.