OneStream Announces Second Quarter 2024 Financial Results
OneStream (Nasdaq: OS) reported strong Q2 2024 financial results, with total revenue reaching $117.5 million, up 36% year-over-year. Subscription revenue grew 44% to $103.1 million. The company's GAAP operating loss improved to $11.6 million from $16.2 million in Q2 2023, with operating margin improving to (10)% from (19)%.
CEO Tom Shea highlighted the company's positive cash flow for the third consecutive quarter. OneStream completed its IPO on July 25, 2024, raising $352.9 million in net proceeds. The company also announced new innovations at its annual user conference and received workplace awards.
For Q3 2024, OneStream projects revenue between $123M - $125M and a non-GAAP operating margin of (2)% - 0%. Full-year 2024 guidance estimates revenue of $476M - $480M with a non-GAAP operating margin of (5)% - (1)%.
OneStream (Nasdaq: OS) ha riportato risultati finanziari solidi per il secondo trimestre del 2024, con un fatturato totale che ha raggiunto 117,5 milioni di dollari, in aumento del 36% rispetto all’anno precedente. I ricavi da abbonamento sono aumentati del 44% a 103,1 milioni di dollari. La perdita operativa GAAP dell’azienda è migliorata a 11,6 milioni di dollari da 16,2 milioni di dollari nel secondo trimestre del 2023, con un margine operativo che è migliorato da (19)% a (10)%.
Il CEO Tom Shea ha sottolineato il flusso di cassa positivo dell’azienda per il terzo trimestre consecutivo. OneStream ha completato il suo IPO il 25 luglio 2024, raccogliendo 352,9 milioni di dollari in proventi netti. L’azienda ha anche annunciato nuove innovazioni durante la sua conferenza annuale per gli utenti e ha ricevuto premi per il posto di lavoro.
Per il terzo trimestre del 2024, OneStream prevede ricavi tra 123M e 125M dollari e un margine operativo non-GAAP di (2)% - 0%. Le stime per l’intero anno 2024 prevedono ricavi di 476M - 480M dollari con un margine operativo non-GAAP di (5)% - (1)%.
OneStream (Nasdaq: OS) reportó resultados financieros sólidos para el segundo trimestre de 2024, con ingresos totales que alcanzaron 117.5 millones de dólares, un aumento del 36% en comparación con el año anterior. Los ingresos por suscripción crecieron un 44% hasta 103.1 millones de dólares. La pérdida operativa GAAP de la empresa mejoró a 11.6 millones de dólares desde 16.2 millones de dólares en el segundo trimestre de 2023, y el margen operativo mejoró de (19)% a (10)%.
El CEO Tom Shea destacó el flujo de caja positivo de la empresa por tercer trimestre consecutivo. OneStream completó su IPO el 25 de julio de 2024, recaudando 352.9 millones de dólares en ingresos netos. La empresa también anunció nuevas innovaciones en su conferencia anual de usuarios y recibió premios en el lugar de trabajo.
Para el tercer trimestre de 2024, OneStream proyecta ingresos entre 123M y 125M dólares y un margen operativo no-GAAP de (2)% - 0%. Las proyecciones para todo el año 2024 estiman ingresos de 476M - 480M dólares con un margen operativo no-GAAP de (5)% - (1)%.
OneStream (Nasdaq: OS)는 2024년 2분기 강력한 재무 결과를 보고했습니다. 총 수익이 1억 1천750만 달러에 달하며, 전년 대비 36% 증가했습니다. 구독 수익은 44% 증가하여 1억 3천310만 달러에 도달했습니다. 회사의 GAAP 운영 손실은 2023년 2분기 1천620만 달러에서 1천160만 달러로 개선되었으며, 운영 마진은 (19)%에서 (10)%로 개선되었습니다.
CEO 톰 셰이는 회사의 긍정적인 현금 흐름을 3분기 연속 강조했습니다. OneStream은 2024년 7월 25일에 상장(IPO)을 완료하고 3억 5천290만 달러의 순 수익을 올렸습니다. 또한 회사는 연례 사용자 회의에서 새로운 혁신을 발표하고 직장 상을 수상했습니다.
2024년 3분기 동안 OneStream은 1억 2천300만에서 1억 2천500만 달러의 수익을 예상하며, 비 GAAP 운영 마진은 (2)% - 0%로 예측합니다. 2024년 전체 연도 가이드는 4억 7천600만에서 4억 7천800만 달러의 수익과 비 GAAP 운영 마진 (5)% - (1)%을 예상합니다.
OneStream (Nasdaq: OS) a annoncé des résultats financiers solides pour le deuxième trimestre 2024, avec un chiffre d'affaires total atteignant 117,5 millions de dollars, en hausse de 36% par rapport à l'année précédente. Les revenus d'abonnement ont augmenté de 44% pour atteindre 103,1 millions de dollars. La perte d'exploitation GAAP de l'entreprise a connu une amélioration, passant de 16,2 millions de dollars au deuxième trimestre 2023 à 11,6 millions de dollars, avec une marge d'exploitation améliorée passant de (19)% à (10)%.
Le PDG Tom Shea a souligné le flux de trésorerie positif de l'entreprise pour le troisième trimestre consécutif. OneStream a complété son introduction en bourse (IPO) le 25 juillet 2024, levant 352,9 millions de dollars de produits nets. L'entreprise a également annoncé de nouvelles innovations lors de sa conférence annuelle des utilisateurs et a reçu des récompenses pour le lieu de travail.
Pour le troisième trimestre 2024, OneStream prévoit un chiffre d'affaires compris entre 123M et 125M dollars et une marge d'exploitation non-GAAP de (2)% - 0%. Les prévisions pour l'ensemble de l'année 2024 estiment un chiffre d'affaires de 476M - 480M dollars, avec une marge d'exploitation non-GAAP de (5)% - (1)%.
OneStream (Nasdaq: OS) hat starke Finanzzahlen für das zweite Quartal 2024 veröffentlicht. Der Gesamtumsatz erreichte 117,5 Millionen Dollar, was einem Anstieg von 36% im Vergleich zum Vorjahr entspricht. Die Abonnementeinnahmen wuchsen um 44% auf 103,1 Millionen Dollar. Der GAAP-Betriebsverlust des Unternehmens verbesserte sich auf 11,6 Millionen Dollar von 16,2 Millionen Dollar im zweiten Quartal 2023, während sich die Betriebsmarge von (19)% auf (10)% verbesserte.
CEO Tom Shea hob den positiven Cashflow des Unternehmens im dritten Quartal in Folge hervor. OneStream schloss am 25. Juli 2024 seinen IPO ab und erzielte netto 352,9 Millionen Dollar. Das Unternehmen kündigte außerdem neue Entwicklungen auf seiner jährlichen Nutzerkonferenz an und erhielt Auszeichnungen für den Arbeitsplatz.
Für das dritte Quartal 2024 prognostiziert OneStream einen Umsatz zwischen 123M und 125M Dollar und eine non-GAAP-Betriebsmasse von (2)% - 0%. Die Prognose für das Gesamtjahr 2024 geht von einem Umsatz von 476M - 480M Dollar aus, mit einer non-GAAP-Betriebsmasse von (5)% - (1)%.
- Total revenue increased 36% year-over-year to $117.5 million
- Subscription revenue grew 44% year-over-year to $103.1 million
- GAAP operating loss improved from $16.2 million to $11.6 million
- Positive cash flow from operations for the third consecutive quarter
- Successful IPO raising $352.9 million in net proceeds
- Projected revenue growth for Q3 and full-year 2024
- GAAP operating loss of $11.6 million in Q2 2024
- Non-GAAP operating loss of $8.7 million in Q2 2024
- Projected non-GAAP operating margin remains negative for Q3 and full-year 2024
Insights
OneStream's Q2 2024 results showcase robust growth, with total revenue up
The recent IPO, raising
OneStream's product innovations unveiled at the Splash user conference signal a strategic focus on enhancing its platform capabilities. The introduction of Advanced Narrative Reporting and expanded AI features addresses the growing demand for intelligent financial reporting tools. The Microsoft Power BI Connector integration is particularly noteworthy, as it leverages the popular business intelligence tool to extend OneStream's data visualization capabilities.
The rapid-deployment CPM Express offering could accelerate customer onboarding and time-to-value, potentially driving faster revenue growth. These product enhancements, coupled with new partner solutions, demonstrate OneStream's commitment to expanding its ecosystem and maintaining a competitive edge in the enterprise finance management space.
OneStream's performance reflects the broader trend of digital transformation in finance departments. The company's growth outpaces the general enterprise software market, indicating strong product-market fit and effective execution. The focus on empowering CFOs with strategic tools aligns well with the current economic climate, where financial agility is crucial.
The workplace awards suggest a positive company culture, which can be a key factor in attracting and retaining top talent in the competitive tech sector. This could contribute to sustained innovation and customer satisfaction. However, investors should keep an eye on the competitive landscape, as other players in the financial management software space may also be ramping up their offerings to capture market share in this growing segment.
Second Quarter 2024 Financial Highlights
- Total Revenue:
$117.5 million 36% year-over-year. - Subscription Revenue:
$103.1 million 44% year-over-year. - GAAP Loss from Operations and Operating Margin: GAAP operating loss was
$11.6 million $16.2 million - Non-GAAP Operating Loss and Non-GAAP Operating Margin: Non-GAAP operating loss was
$8.7 million $13.3 million
"Our strong top line growth in the second quarter underscores our continued momentum in the first half of the year, including achieving positive cash flow from operations and free cash flow for the third quarter in a row," said Tom Shea, CEO of OneStream. "Our growth trajectory reflects what's happening in the world of Finance today. CFOs are being asked to strategically guide the business towards growth against an economically volatile backdrop. We are in a solid position to empower the Office of the CFO with the operating system for modern finance and we remain committed to helping Finance leaders around the world effectively steer their businesses."
Recent Developments and Business Highlights
- Initial Public Offering. On July 25, 2024, the Company completed its initial public offering (the "IPO") of 28,175,000 shares of Class A common stock, including shares sold by the Company and the selling stockholders, and the full exercise of the underwriters' option to purchase additional shares. Net proceeds to OneStream from the offering were
$352.9 million - Splash User Conference. A record-breaking crowd at the OneStream Splash annual user conference in
Las Vegas witnessed the unveiling of a dozen new innovations, including Advanced Narrative Reporting, a certified Microsoft Power BI Connector, a rapid-deployment CPM Express, expanded Sensible AI and Machine-Learning capabilities, and new partner solutions built atop the OneStream platform, including Infinity Sales Performance Management. - OneStream Workplace Awards. OneStream was named a 2024 Inspiring Workplaces in both
North America and in theUnited Kingdom . These awards come on the heels of being named aUSA Today 2024 Top Workplace.
Financial Outlook
OneStream is providing the following guidance for the third quarter of 2024 and the full year 2024:
Q3'24 | FY24 | ||
Total Revenue | |||
Non-GAAP Operating Margin | (2)% - | (5)% - (1)% | |
Non-GAAP Net Loss per Share |
OneStream has not provided a reconciliation of its forward outlook for non-GAAP operating margin and non-GAAP net loss 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 stock-based compensation and its related tax effects.
Earnings Webcast Information
OneStream will host a conference call for analysts and investors to discuss its financial results for the second quarter of 2024 and its outlook for the third quarter of 2024 and full year 2024 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: | Tuesday, September 3, 2024 |
Time: | 4:30 p.m. ET / 1:30 p.m. PT |
Webcast: | https://investor.onestream.com |
Upcoming Conferences
- Citi 2024 Global TMT Conference
Thursday, September 5, 2024 at 3:50 p.m. ET / 12:50 p.m. PT - Goldman Sachs Communacopia & Technology Conference
Wednesday, September 11, 2024 at 11:10 a.m. ET / 8:10 a.m. PT
Sessions offering a webcast will be available on the Investor Relations section of the OneStream website at 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, the financial outlook for total revenue, non-GAAP operating margin and non-GAAP net loss per share provided for the third quarter ending September 30, 2024 and the year ending December 31, 2024. 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 Prospectus dated July 23, 2024, filed with the Securities and Exchange Commission (the "SEC") on July 24, 2024, and in the other documents we file with the SEC from time to time, including our Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, which we expect to file with the SEC 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 loss 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 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 Loss Per Share
We define non-GAAP net loss as net loss adjusted for non-cash, non-operational and non-recurring items, including equity-based compensation expense and amortization of acquired intangible assets. We define non-GAAP net loss per share as non-GAAP net loss divided by weighted-average shares outstanding.
Free Cash Flow
We define free cash flow as net cash provided by (used in) operating activities less purchases of property and equipment.
Presentation of Financial Measures
This press release presents historical results, for the periods presented, of OneStream Software LLC, the predecessor of OneStream, Inc. for financial reporting purposes. The financial results of OneStream, Inc. have not been included in this press release as it had no material assets or liabilities and no material business transactions or activities during the periods presented. Accordingly, these historical results do not purport to reflect what the results of operations of OneStream, Inc. or OneStream Software LLC would have been had the IPO and related reorganization transactions occurred prior to such periods.
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 1,400 customers, including
Investor Relations Contacts
INVESTOR CONTACT
Anne Leschin
VP, Investor Relations and Strategic Finance
OneStream
investors@onestreamsoftware.com
MEDIA CONTACT
Victoria Borges
Media Relations Contact
OneStream
media@onestreamsoftware.com
CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except unit amounts) (Unaudited) | |||||||
As of | |||||||
June 30, 2024 | December 31, 2023 | ||||||
Assets | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 140,515 | $ | 117,087 | |||
Accounts receivable, net | 92,913 | 107,308 | |||||
Unbilled accounts receivable | 29,588 | 31,519 | |||||
Deferred commissions | 19,113 | 17,225 | |||||
Prepaid expenses and other current assets | 9,375 | 13,098 | |||||
Total current assets | 291,504 | 286,237 | |||||
Unbilled accounts receivable, noncurrent | 1,817 | 2,009 | |||||
Deferred commissions, noncurrent | 41,344 | 41,030 | |||||
Operating lease right-of-use assets | 17,237 | 18,559 | |||||
Property and equipment, net | 10,730 | 10,266 | |||||
Intangible assets, net | 3,117 | — | |||||
Goodwill | 9,071 | — | |||||
Other noncurrent assets | 4,869 | 3,458 | |||||
Total assets | $ | 379,689 | $ | 361,559 | |||
Liabilities and members' equity | |||||||
Current liabilities: | |||||||
Accounts payable | $ | 24,663 | $ | 8,274 | |||
Accrued compensation | 25,446 | 22,436 | |||||
Accrued commissions | 5,961 | 10,158 | |||||
Deferred revenue, current | 193,519 | 177,465 | |||||
Operating lease liabilities, current | 3,017 | 2,505 | |||||
Other accrued expenses and current liabilities | 9,950 | 11,532 | |||||
Total current liabilities | 262,556 | 232,370 | |||||
Deferred revenue, noncurrent | 3,330 | 5,141 | |||||
Operating lease liabilities, noncurrent | 16,118 | 17,522 | |||||
Other noncurrent liabilities | 167 | — | |||||
Total liabilities | 282,171 | 255,033 | |||||
Commitments and contingencies | |||||||
Members' equity: | |||||||
Convertible preferred units | 209,733 | 209,733 | |||||
Members' capital: common units | 75,649 | 71,573 | |||||
Accumulated other comprehensive loss | (900) | (625) | |||||
Accumulated deficit | (186,964) | (174,155) | |||||
Total members' equity | 97,518 | 106,526 | |||||
Total liabilities and members' equity | $ | 379,689 | $ | 361,559 | |||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands) (Unaudited) | |||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
Revenues: | |||||||||||||||
Subscription | $ | 103,133 | $ | 71,843 | $ | 198,820 | $ | 135,921 | |||||||
License | 6,905 | 6,652 | 13,084 | 13,444 | |||||||||||
Professional services and other | 7,463 | 8,009 | 15,888 | 15,958 | |||||||||||
Total revenue | 117,501 | 86,504 | 227,792 | 165,323 | |||||||||||
Cost of revenues: | |||||||||||||||
Subscription | 26,515 | 17,939 | 49,621 | 33,881 | |||||||||||
Professional services and other | 10,460 | 10,784 | 21,382 | 20,610 | |||||||||||
Total cost of revenue | 36,975 | 28,723 | 71,003 | 54,491 | |||||||||||
Gross profit | 80,526 | 57,781 | 156,789 | 110,832 | |||||||||||
Operating expenses: | |||||||||||||||
Sales and marketing (1) | 52,216 | 46,744 | 100,525 | 94,015 | |||||||||||
Research and development (1) | 19,952 | 13,226 | 36,876 | 25,755 | |||||||||||
General and administrative (1) | 19,929 | 14,058 | 36,339 | 28,785 | |||||||||||
Total operating expenses | 92,097 | 74,028 | 173,740 | 148,555 | |||||||||||
Loss from operations | (11,571) | (16,247) | (16,951) | (37,723) | |||||||||||
Interest income, net | 1,661 | 1,046 | 3,297 | 1,569 | |||||||||||
Other income (expense), net | 2,391 | 5 | 1,491 | (1,822) | |||||||||||
Loss before income taxes | (7,519) | (15,196) | (12,163) | (37,976) | |||||||||||
Provision for income taxes | 331 | 175 | 646 | 470 | |||||||||||
Net loss | $ | (7,850) | $ | (15,371) | $ | (12,809) | $ | (38,446) | |||||||
(1) Includes equity-based compensation expense as follows: | |||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
Cost of professional services and other | $ | — | $ | — | $ | — | $ | 15 | |||||||
Sales and marketing | 918 | 1,894 | 1,274 | 3,123 | |||||||||||
Research and development | 1,149 | 105 | 1,254 | 309 | |||||||||||
General and administrative | 652 | 933 | 1,304 | 2,213 | |||||||||||
Total equity-based compensation | $ | 2,719 | $ | 2,932 | $ | 3,832 | $ | 5,660 | |||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (Unaudited) | |||||||
Six Months Ended June 30, | |||||||
2024 | 2023 | ||||||
Cash flows from operating activities: | |||||||
Net loss | $ | (12,809) | $ | (38,446) | |||
Adjustments to reconcile net loss to net cash provided by (used in) | |||||||
Depreciation and amortization | 1,545 | 1,460 | |||||
Bad debt expense | 1,560 | 814 | |||||
Noncash operating lease expense | 1,394 | 1,410 | |||||
Amortization of deferred commissions | 9,492 | 7,724 | |||||
Equity-based compensation | 3,832 | 5,660 | |||||
Other noncash operating activities, net | (2,037) | 1,690 | |||||
Changes in operating assets and liabilities: | |||||||
Accounts receivable, net | 14,957 | 13,403 | |||||
Deferred commissions | (11,694) | (10,697) | |||||
Prepaid expenses and other assets | 2,637 | (5,766) | |||||
Accounts payable | 14,133 | (3,282) | |||||
Deferred revenue | 14,242 | 24,088 | |||||
Accrued and other liabilities | (3,598) | 784 | |||||
Net cash provided by (used in) operating activities | 33,654 | (1,158) | |||||
Cash flows from investing activities: | |||||||
Purchases of property and equipment | (1,100) | (1,444) | |||||
Acquisition of business, net of cash acquired | (7,594) | — | |||||
Sales of marketable securities | — | 87,247 | |||||
Net cash (used in) provided by investing activities | (8,694) | 85,803 | |||||
Cash flows from financing activities: | |||||||
Payments of deferred offering costs | (1,045) | — | |||||
Principal payments on finance lease obligation | — | (46) | |||||
Proceeds from exercise of common unit options | — | 247 | |||||
Repayments of borrowings on revolving credit facility | — | (3,500) | |||||
Net cash used in financing activities | (1,045) | (3,299) | |||||
Effect of exchange rate changes on cash and cash equivalents | (487) | 201 | |||||
Net increase in cash and cash equivalents | 23,428 | 81,547 | |||||
Cash and cash equivalents - Beginning of period | 117,087 | 14,687 | |||||
Cash and cash equivalents - End of period | $ | 140,515 | $ | 96,234 | |||
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) | ||||||||
Non-GAAP Operating Loss | ||||||||
Three Months Ended June 30, | ||||||||
2024 | 2023 | |||||||
(in thousands) | ||||||||
Loss from operations | $ | (11,571) | $ | (16,247) | ||||
Equity-based compensation expense | 2,719 | 2,932 | ||||||
Amortization expense | 183 | — | ||||||
Non-GAAP operating loss | $ | (8,669) | $ | (13,315) | ||||
Non-GAAP Operating Margin | ||||||||
Three Months Ended June 30, | ||||||||
2024 | 2023 | |||||||
(in thousands) | ||||||||
Operating margin | (10) | % | (19) | % | ||||
Equity-based compensation expense | 2 | % | 3 | % | ||||
Amortization expense | — | — | ||||||
Non-GAAP operating margin(1) | (7) | % | (15) | % | ||||
(1) Non-GAAP operating margin may not foot due to rounding. | ||||||||
Free Cash Flow | ||||||||
Three Months Ended June 30, | ||||||||
2024 | 2023 | |||||||
(in thousands) | ||||||||
Net cash provided by operating activities | $ | 8,114 | $ | 798 | ||||
Purchases of property and equipment | (410) | (1,024) | ||||||
Free cash flow | 7,704 | (226) | ||||||
Net cash used in investing activities | $ | (8,004) | $ | (1,024) | ||||
Net cash used in financing activities | $ | (694) | $ | (19) | ||||
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SOURCE OneStream, Inc.
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