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BIRMINGHAM, Mich., May 8, 2025 /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
"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
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.
Date: | Thursday, May 8, 2025 |
Time: | 4:30 p.m. ET / 1:30 p.m. PT |
Webcast: |
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 Leschin
VP, Investor Relations and Strategic Finance
OneStream
[email protected]
MEDIA CONTACT
Victoria Borges
Media Relations Contact
OneStream
[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– | 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 | ||||||||
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 Ended | ||||
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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