OneStream Announces Fourth Quarter and Fiscal Year 2024 Financial Results

OneStream, Inc., a leading enterprise finance management platform, has released its financial results for the fourth quarter and fiscal year ending December 31, 2024. The company, known for modernizing the Office of the CFO by unifying core finance and operational functions, reported significant growth in revenue and subscription services, despite facing challenges in operating income due to increased equity-based compensation expenses.

Financial Highlights

For the fourth quarter of 2024, OneStream reported a total revenue of $132.5 million, marking a 29% increase year-over-year. Subscription revenue saw a notable rise of 35% year-over-year, reaching $118.6 million. However, the company faced a GAAP operating loss of $47.4 million, primarily due to a substantial increase in equity-based compensation expenses, which amounted to $52.6 million compared to $1.2 million in the same quarter of the previous year. The non-GAAP operating income was $8.7 million, with a non-GAAP operating margin of 7%.

For the fiscal year 2024, total revenue was $489.4 million, a 31% increase from the previous year. Subscription revenue grew by 41% to $428.2 million. The GAAP operating loss for the year was $319.5 million, again influenced by high equity-based compensation expenses totaling $316.4 million. On a non-GAAP basis, the company reported an operating income of $1.2 million.

Business and Operational Highlights

OneStream introduced several innovations in 2024, including a suite of AI-powered solutions for real-time forecasting and a new product, CPM Express, designed to simplify reporting and forecasting. The company also launched its first integrated business planning product for sales performance in partnership with Infinity SPM and deepened its strategic relationship with Microsoft by integrating with the Office 365 Suite.

Strategic Initiatives and Corporate Developments

In November 2024, OneStream completed a secondary offering of 17,250,000 shares of its Class A common stock. The company did not receive any proceeds from this sale, as it was used to purchase issued and outstanding LLC units of OneStream Software LLC in a non-dilutive "synthetic secondary" transaction.

Management's Perspective

Tom Shea, CEO of OneStream, highlighted the company's strong performance, particularly the 35% year-over-year subscription revenue growth in the fourth quarter. He emphasized the transformative nature of 2024 for OneStream, with the introduction of 15 new innovations, including a growing Finance AI portfolio. Shea expressed excitement about bringing new products to market in 2025, positioning OneStream as the operating system for modern finance.

Future Outlook

Looking ahead, OneStream provided guidance for the first quarter of 2025 and the fiscal year 2025. The company expects total revenue for Q1 2025 to be between $130 million and $132 million, with a non-GAAP operating margin of (9%) to (7%). For the full fiscal year 2025, total revenue is projected to be between $583 million and $587 million, with a non-GAAP operating margin of (1%) to 1%.

SEC Filing: OneStream, Inc. [ OS ] - 8-K - Feb. 11, 2025