OneStream Announces First Quarter 2025 Financial Results

, /PRNewswire/ -- OneStream, Inc. (Nasdaq: OS), the leading enterprise Finance management platform that modernizes the Office of the CFO by unifying core finance and operational functions -- including financial close, consolidation, reporting, planning and forecasting -- today announced financial results for its first quarter ended March 31, 2025. First Quarter 2025 Financial Highlights Total Revenue: $136.3 million, an increase of 24% year-over-year. Subscription Revenue: $125.1 million, an increase of 31% year-over-year. GAAP Operating Loss and Operating Margin: GAAP operating loss was $39.9 million compared to $5.4 million for the first quarter of 2024, and GAAP operating margin was (29%) compared to (5%) for the first quarter of 2024. This included equity-based compensation expense of $37.9 million, compared to $1.1 million for the first quarter of 2024. Non-GAAP Operating Loss and Non-GAAP Operating Margin: Non-GAAP operating loss was $0.5 million compared to $4.3 million for the first quarter of 2024, and non-GAAP operating margin was 0% compared to (4%) for the first quarter of 2024. GAAP Net Loss Per Share - Basic: GAAP basic net loss per share was ($0.14). Non-GAAP Net Income Per Share: Non-GAAP net income per share was $0.04. Net Cash Provided by Operating Activities: Net cash provided by operating activities was $36.2 million compared to $25.5 million for the first quarter of 2024. Free Cash Flow: Free cash flow was $35.8 million compared to $24.9 million for the first quarter of 2024. "Our strong first quarter results reflect healthy demand and solid execution of our strategic priorities. As the world grows harder to predict, the need for greater efficiency and agility in financial operations is becoming more important," said Tom Shea, CEO of OneStream. "Our platform is delivering measurable value—helping teams forecast faster, identify risks sooner and test scenarios in real time. With impressive results from our SensibleAI technology, we are empowering our customers to navigate today's complexities. We believe OneStream has never been more relevant." Recent Developments and Business Highlights FedRAMP High Authorization. OneStream achieved Federal Risk and Authorization Management Program (FedRAMP) High authorization, certifying OneStream's government community cloud meets some of the federal government's strictest safety standards for handling highly sensitive, unclassified data. Launch of ESG Reporting & Planning Solution. OneStream launched a new ESG Reporting & Planning solution, enabling customers to collect, analyze, report and plan for ESG requirements – including Scope 1, 2 and 3 emissions – and link sustainability efforts with financial performance, all within OneStream's unified platform. OneStream Recognized as Leader in Another Gartner® Magic Quadrant™. OneStream was recognized for the third consecutive time as a Leader in the Gartner® Magic Quadrant™ for Financial Close and Consolidation Solutions. Gartner evaluated providers based on their Ability to Execute and their Completeness of Vision, and placed OneStream in the Leaders Quadrant. This is the second category of recognition in a Gartner Magic Quadrant. OneStream also achieved a Leadership position in the Gartner Magic Quadrant for Financial Planning Software in November 2024. OneStream Recognized as a 5x Market Leader in BARC. OneStream was named a leader for the fifth time in the 2025 BARC Score for Financial Performance Management (FPM) solutions which analyzes the strengths and challenges of all leading FPM vendors. OneStream was recognized as a market leader, ranking among the highest on portfolio capabilities and market execution scores across vendors. Financial Outlook OneStream is providing the following guidance for the second quarter of 2025 and fiscal year 2025: Q2'25 FY25 Total Revenue $140M - $142M $583M - $587M Non-GAAP Operating Margin (2%) - 0% 0% - 2% Non-GAAP Net Income per Share $0.00 - $0.02 $0.05 - $0.13 Equity-Based Compensation $30M - $35M $120M - $130M OneStream has not provided a reconciliation of its forward outlook for non-GAAP operating margin and non-GAAP net income per share to their most directly comparable GAAP financial measures in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. OneStream is unable to predict with reasonable certainty the amount and timing of adjustments that are used to calculate these non-GAAP financial measures, particularly related to equity-based compensation and employee stock transactions and the related tax effects. Earnings Webcast Information OneStream will host a conference call for analysts and investors to discuss its financial results for the first quarter 2025 and its outlook for the second quarter of 2025 and fiscal year 2025 today at 4:30 p.m. Eastern time / 1:30 p.m. Pacific time. A webcast replay will be available on the Investor Relations Section of OneStream's website following the call. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. Forward-looking statements contained in this press release include, but are not limited to, statements regarding our business strategy and future growth, including statements regarding our SensibleAI technology, FedRAMP High Authorization, ESG Reporting & Planning solution, and our guidance for total revenue, non-GAAP operating margin, non-GAAP net income per share and equity-based compensation for the second quarter of 2025 and fiscal year 2025. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors. Some of these risks are described in greater detail in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, which we expect to file with the Securities and Exchange Commission on or around the date of this press release. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause our actual results to differ materially from those contained in any forward-looking statements we may make. These factors may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not rely on these statements or regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified timeframe, or at all. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Non-GAAP Financial Measures In addition to GAAP financial measures, this press release includes non-GAAP financial measures that we use to help us evaluate our business, identify trends affecting our business, formulate business plans and make strategic decisions. These non-GAAP financial measures include non-GAAP operating loss, non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income per share and free cash flow, and their respective definitions are presented below. There are limitations to the non-GAAP financial measures included in this press release, and they may not be comparable to similarly titled measures of other companies. The non-GAAP financial measures included in this press release should not be considered in isolation from or as a substitute for their most directly comparable GAAP financial measures. Our management believes that our non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses that may not be indicative of our ongoing core operating performance. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when analyzing historical performance and liquidity and when planning, forecasting and analyzing future periods. For a reconciliation of the non-GAAP financial measures presented for historical periods to their most directly comparable GAAP financial measures, please see the tables captioned "Reconciliation of Non-GAAP Financial Measures" included at the end of this press release. We encourage you to review the reconciliation in conjunction with the presentation of the non-GAAP financial measures for each of the periods presented. In future periods, we may exclude similar items, may incur income and expenses similar to these excluded items and may include other expenses, costs and non-recurring items. Non-GAAP Operating Loss We define non-GAAP operating loss as loss from operations adjusted for non-cash, non-operational and non-recurring items, including equity-based compensation expense, employer taxes on employee stock transactions and amortization of acquired intangible assets. Non-GAAP Operating Margin We define non-GAAP operating margin as non-GAAP operating loss as a percentage of total revenue. Non-GAAP Net Income (Loss) We define non-GAAP net income (loss) as net loss adjusted for non-cash, non-operational and non-recurring items, including equity-based compensation expense, employer taxes on employee stock transactions and amortization of acquired intangible assets. Non-GAAP Net Income Per Share We define non-GAAP net income per share as basic net loss per share adjusted for non-cash, non-operational and non-recurring items, including equity-based compensation expense, employer taxes on employee stock transactions, amortization of acquired intangible assets and net loss attributable to non-controlling interests. Free Cash Flow We define free cash flow as net cash provided by operating activities less purchases of property and equipment. About OneStream OneStream is how today's Finance teams can go beyond just reporting on the past and Take Finance Further by steering the business to the future. It's the leading enterprise finance platform that unifies financial and operational data, embeds AI for better decisions and productivity, and empowers the CFO to become a critical driver of business strategy and execution. We deliver a comprehensive cloud-based platform to modernize the Office of the CFO. Our Digital Finance Cloud unifies core financial and broader operational data and processes and embeds AI for better planning and forecasting, with an extensible architecture, so customers can adopt and develop new solutions, achieving greater value as their business needs evolve. With over 1,600 customers, including 17% of the Fortune 500, more than 300 go-to-market, implementation, and development partners and over 1,500 employees, our vision is to be the operating system for modern finance. To learn more, visit onestream.com. Investor Relations Contacts INVESTOR CONTACT Anne LeschinVP, Investor Relations and Strategic FinanceOneStream[email protected] MEDIA CONTACT Victoria BorgesMedia Relations ContactOneStream[email protected] CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (Unaudited) As of March 31, 2025 December 31, 2024 (Unaudited) Assets Current assets: Cash and cash equivalents $ 593,866 $ 544,174 Accounts receivable, net 126,779 129,014 Unbilled accounts receivable 22,093 23,294 Deferred commissions 21,352 20,682 Prepaid expenses and other current assets 19,265 20,202 Total current assets 783,355 737,366 Unbilled accounts receivable, noncurrent 472 800 Deferred commissions, noncurrent 43,937 44,228 Operating lease right-of-use assets 16,303 16,705 Property and equipment, net 9,596 10,084 Intangible assets, net 2,292 2,567 Goodwill 9,280 9,280 Other noncurrent assets 2,097 2,191 Total assets $ 867,332 $ 823,221 Liabilities and stockholders' / members' equity Current liabilities: Accounts payable $ 28,155 $ 19,563 Accrued compensation 28,263 27,543 Accrued commissions 6,440 9,007 Deferred revenue, current 255,271 239,291 Operating lease liabilities, current 3,204 3,237 Other accrued expenses and current liabilities 14,065 13,534 Total current liabilities 335,398 312,175 Deferred revenue, noncurrent 4,518 4,515 Operating lease liabilities, noncurrent 14,972 15,357 Other noncurrent liabilities 229 216 Total liabilities 355,117 332,263 Stockholders' / members' equity: Preferred stock — — Class A common stock 7 5 Class B common stock — — Class C common stock 6 6 Class D common stock 10 12 Additional paid-in capital 768,284 718,084 Accumulated other comprehensive loss (66) (599) Accumulated deficit (355,350) (331,334) Total stockholders' equity attributable to OneStream, Inc. / members' equity 412,891 386,174 Non-controlling interests 99,324 104,784 Total stockholders' / members' equity 512,215 490,958 Total liabilities and stockholders' / members' equity $ 867,332 $ 823,221 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (Unaudited) Three Months Ended March 31, 2025 2024 Revenues: Subscription $ 125,100 $ 95,687 License 3,698 6,179 Professional services and other 7,511 8,425 Total revenue 136,309 110,291 Cost of revenues: Subscription(1) 31,487 23,106 Professional services and other(1) 12,091 10,922 Total cost of revenue 43,578 34,028 Gross profit 92,731 76,263 Operating expenses: Sales and marketing(1) 67,622 48,309 Research and development(1) 35,002 16,924 General and administrative(1) 29,980 16,410 Total operating expenses 132,604 81,643 Loss from operations (39,873) (5,380) Interest income, net 5,937 1,636 Other income (expense), net 1,705 (900) Loss before income taxes (32,231) (4,644) Provision for income taxes 420 315 Net loss $ (32,651) $ (4,959) Less: Net loss attributable to non-controlling interests (8,635) — Net loss attributable to OneStream, Inc. $ (24,016) $ (4,959) Net loss per share of Class A and Class D common stock–basic and diluted $ (0.14) Weighted-average shares of Class A and Class D common stock outstanding–basic and diluted 174,729 (1) Includes equity-based compensation expense as follows: Three Months Ended March 31, 2025 2024 Cost of subscription $ 706 $ — Cost of professional services and other 2,037 — Sales and marketing 13,868 356 Research and development 10,548 105 General and administrative 10,750 652 Total equity-based compensation $ 37,909 $ 1,113 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (Unaudited) Three Months Ended March 31, 2025 2024 Operating activities: Net loss $ (32,651) $ (4,959) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 1,037 663 Noncash operating lease expense 919 681 Amortization of deferred commissions 5,732 4,551 Equity-based compensation 37,909 1,113 Other noncash operating activities, net (731) 1,246 Changes in operating assets and liabilities: Accounts receivable, net 3,945 17,581 Deferred commissions (6,112) (4,858) Prepaid expenses and other assets 690 194 Accounts payable 8,917 5,447 Deferred revenue 15,983 8,281 Accrued and other liabilities 559 (4,400) Net cash provided by operating activities 36,197 25,540 Investing activities: Purchases of property and equipment (380) (690) Net cash used in investing activities (380) (690) Financing activities: Payments of deferred offering costs (1,763) (351) Proceeds from option exercises 15,077 — Net cash provided by (used in) financing activities 13,314 (351) Effect of exchange rate changes on cash and cash equivalents 561 (290) Net increase in cash and cash equivalents 49,692 24,209 Cash and cash equivalents - Beginning of period 544,174 117,087 Cash and cash equivalents - End of period $ 593,866 $ 141,296 RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) Non-GAAP Operating Loss Three Months Ended March 31, 2025 2024 (in thousands) Loss from operations $ (39,873) $ (5,380) Equity-based compensation expense 37,909 1,113 Employer taxes on employee stock transactions 1,167 — Amortization of acquired intangible assets 275 — Non-GAAP operating loss $ (522) $ (4,267) Non-GAAP Operating Margin Three Months Ended March 31, 2025 2024 Operating margin (29) % (5) % Equity-based compensation expense 28 % 1 % Employer taxes on employee stock transactions 1 % — Amortization of acquired intangible assets — — Non-GAAP operating margin 0 % (4) % Non-GAAP Net Income (Loss) Three Months Ended March 31, 2025 2024 (in thousands) Net loss $ (32,651) $ (4,959) Equity-based compensation expense 37,909 1,113 Employer taxes on employee stock transactions 1,167 — Amortization of acquired intangible assets 275 — Non-GAAP net income (loss) $ 6,700 $ (3,846) Non-GAAP Net Income Per Share Three Months EndedMarch 31, 2025 Net loss per share–basic and diluted $ (0.14) Equity-based compensation expense 0.22 Employer taxes on employee stock transactions 0.01 Amortization of acquired intangible assets — Net loss attributable to non-controlling interests (0.05) Non-GAAP net income per share $ 0.04 Free Cash Flow Three Months Ended March 31, 2025 2024 (in thousands) Net cash provided by operating activities $ 36,197 $ 25,540 Purchases of property and equipment (380) (690) Free cash flow 35,817 24,850 Net cash used in investing activities $ (380) $ (690) Net cash provided by (used in) financing activities $ 13,314 $ (351) SOURCE OneStream, Inc. 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OneStream Announces First Quarter 2025 Financial Results

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