OneStream Announces Fourth Quarter and Fiscal Year 2024 Financial Results

Core Insights - OneStream, Inc. reported a transformative year in 2024, achieving a 35% year-over-year growth in subscription revenue during Q4 and becoming free cash flow positive and non-GAAP profitable [4][8] - The company introduced 15 new innovations in 2024, particularly enhancing its Finance AI portfolio, and plans to launch new products in 2025 [4] Financial Highlights Fourth Quarter 2024 - Total revenue reached $132.5 million, a 29$118.6 million, reflecting a 35% year-over-year growth - GAAP operating loss was $47.4 million, compared to a profit of$0.2 million in Q4 2023, resulting in a GAAP operating margin of (36%) [8][27] - Non-GAAP operating income was $8.7 million, with a non-GAAP operating margin of 7$24.7 million, down from $26.6 million in Q4 2023 [8][32] Fiscal Year 2024 - Total revenue for the year was$489.4 million, a 31% increase year-over-year - Subscription revenue totaled $428.2 million, marking a 41$319.5 million, compared to a loss of $30.5 million in 2023, with a GAAP operating margin of (65$1.2 million, with a non-GAAP operating margin of 0% [8][31] - Free cash flow for the year was $58.5 million, compared to$18.7 million in 2023 [8][32] Recent Developments - OneStream completed a secondary offering of 17,250,000 shares in November 2024, with no proceeds retained by the company [7][9] - The company launched several AI-powered solutions, including GenAI and machine learning capabilities, aimed at improving forecasting accuracy and speed [8] - OneStream strengthened its partnership with Microsoft, enhancing integrations with Office 365 and launching a Certified Power BI connector [8] Industry Recognition - OneStream was recognized as a Leader in the Gartner Magic Quadrant for Financial Planning Software for the third consecutive year [8] - The company was also named a leader in IDC's Record to Report MarketScape and received high ratings in ISG Software Research's Business Planning Buyers Guide for 2024 [8]