OneStream Announces First Quarter 2025 Financial Results

Published: 2025-05-08 16:06:19 ET OS

Published on 05/08/2025 at 16:06

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:

https://investor.onestream.com

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 [email protected]

MEDIA CONTACT

Victoria BorgesMedia Relations [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

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

Class B common stock

—

Class C common stock

Class D common stock

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

Employer taxes on employee stock transactions

—

Amortization of acquired intangible assets

—

Non-GAAP operating margin

(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)

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SOURCE OneStream, Inc.