OneStream, Inc. Reports Strong Q3 2024 Financial Performance

Onestream, Inc. Class A ( (OS) ) has released its Q3 earnings. Here is a breakdown of the information Onestream, Inc. Class A presented to its investors.

OneStream, Inc., a leading enterprise finance management platform, specializes in modernizing the Office of the CFO by unifying finance and operational functions, including financial close, consolidation, reporting, planning, and forecasting. It uses AI to enhance decision-making and productivity.

In its third quarter of 2024, OneStream reported a total revenue of $129.1 million, marking a 21% year-over-year increase, with notable growth in subscription revenue, which surged by 39% year-over-year. The company also highlighted its positive free cash flow and recent strategic initiatives.

Key financial metrics for OneStream included a GAAP operating loss of $255.2 million, largely influenced by significant equity-based compensation expenses, while non-GAAP operating income was $5.5 million. The company generated $2.4 million in net cash from operating activities and reported a positive free cash flow of $1.3 million. Strategically, OneStream introduced new innovations at its Splash EMEA User Conference and launched the Finance 2035 Initiative, aiming to redefine the role of CFOs in the future.

The company completed its initial public offering in July 2024, raising net proceeds of $352.9 million. It was also recognized as a Leader in IDC’s inaugural Record to Report MarketScape report, underscoring its strong standing in the financial reporting sector.

Looking ahead, OneStream is optimistic about its growth prospects, providing a financial outlook for the fourth quarter and full year of 2024. The company expects total revenue between $127 million to $129 million for Q4 and $484 million to $486 million for FY24, with a non-GAAP operating margin ranging from 0% to 2% for Q4 and -2% to -1% for the full year.