OneSpan to Acquire Build38 in Cybersecurity Add-On

OneSpan Inc. has announced an add-on acquisition of Build38, a provider of next-generation mobile application protection. The filing includes OneSpan’s Q4 and full-year 2025 operating metrics alongside the acquisition update.

For context, OneSpan reported Q4 2025 revenue of $62.9 million and full-year 2025 revenue of $243.2 million. The company also reported full-year 2025 net income of $72.9 million and adjusted EBITDA of $77.6 million. OneSpan’s ARR increased 11% year over year to $186.9 million, and it reported a net retention rate of 104%.