OneStream Announces Third Quarter 2024 Financial Results
OneStream announced its Q3 2024 financial results, reporting a total revenue of $129.1 million, a 21% increase YoY, and a subscription revenue of $110.7 million, a 39% rise YoY.
However, the company recorded a GAAP operating loss of $255.2 million, primarily due to $260 million in equity-based compensation expenses, compared to a GAAP operating income of $7.0 million in Q3 2023. The non-GAAP operating income was $5.5 million, down from $8.4 million in the same period last year. Net cash provided by operating activities was $2.4 million, and free cash flow was $1.3 million, both improvements from Q3 2023.
Recent highlights include the launch of the Finance 2035 Initiative and recognition as a leader in IDC's Record to Report MarketScape. The company also completed its IPO on July 25, 2024, raising $352.9 million. Guidance for Q4 2024 projects total revenue between $127M and $129M with a non-GAAP operating margin of 0% to 2%.
OneStream ha annunciato i risultati finanziari per il terzo trimestre del 2024, riportando un fatturato totale di 129,1 milioni di dollari, con un incremento del 21% rispetto all'anno precedente, e un fatturato da abbonamento di 110,7 milioni di dollari, in aumento del 39% annuo.
Tuttavia, l'azienda ha registrato una perdita operativa GAAP di 255,2 milioni di dollari, principalmente a causa di 260 milioni di dollari in spese per compensi basati su azioni, rispetto a un reddito operativo GAAP di 7,0 milioni di dollari nel terzo trimestre del 2023. Il reddito operativo non-GAAP è stato di 5,5 milioni di dollari, in calo rispetto agli 8,4 milioni di dollari dello stesso periodo dell'anno scorso. Il cash flow netto fornito dalle attività operative è stato di 2,4 milioni di dollari, mentre il cash flow libero è stato di 1,3 milioni di dollari, entrambi in miglioramento rispetto al terzo trimestre del 2023.
Tra i recenti punti salienti si include il lancio dell'Iniziativa Finance 2035 e il riconoscimento come leader nel MarketScape Record to Report di IDC. L'azienda ha inoltre completato la sua IPO il 25 luglio 2024, raccogliendo 352,9 milioni di dollari. Le previsioni per il quarto trimestre del 2024 stimano un fatturato totale tra 127 milioni e 129 milioni di dollari con un margine operativo non-GAAP dello 0% al 2%.
OneStream anunció sus resultados financieros del tercer trimestre de 2024, reportando un ingreso total de 129.1 millones de dólares, un aumento del 21% interanual, y un ingreso por suscripción de 110.7 millones de dólares, un incremento del 39% interanual.
No obstante, la compañía registró una pérdida operativa GAAP de 255.2 millones de dólares, principalmente debido a 260 millones de dólares en gastos de compensación basados en acciones, en comparación con un ingreso operativo GAAP de 7.0 millones de dólares en el tercer trimestre de 2023. El ingreso operativo no-GAAP fue de 5.5 millones de dólares, una disminución de 8.4 millones de dólares en el mismo período del año pasado. El efectivo neto proporcionado por actividades operativas fue de 2.4 millones de dólares, y el flujo de efectivo libre fue de 1.3 millones de dólares, ambos en mejora con respecto al tercer trimestre de 2023.
Entre los puntos destacados recientes se incluye el lanzamiento de la Iniciativa Finance 2035 y el reconocimiento como líder en el MarketScape Record to Report de IDC. La compañía también completó su OPI el 25 de julio de 2024, recaudando 352.9 millones de dólares. Las proyecciones para el cuarto trimestre de 2024 estiman ingresos totales entre 127 millones y 129 millones de dólares con un margen operativo no-GAAP del 0% al 2%.
OneStream은 2024년 3분기 재무 결과를 발표하며 총 수익이 1억 2910만 달러로 연간 21% 증가했으며, 구독 수익은 1억 1070만 달러로 연간 39% 상승했다고 보고했습니다.
그러나 회사는 GAAP 기준 운영 손실이 2억 5520만 달러였으며, 이는 주식 기반 보상 비용으로 인한 2억 6000만 달러 때문입니다. 이는 2023년 3분기 GAAP 기준 운영 소득이 700만 달러였던 것과 비교됩니다. 비 GAAP 기준 운영 소득은 550만 달러로 지난해 같은 시기 840만 달러에서 감소했습니다. 운영 활동을 통한 순 현금은 240만 달러였고, 자유 현금 흐름은 130만 달러로, 모두 2023년 3분기 대비 개선되었습니다.
최근 주요 성과로는 Finance 2035 Initiative의 출범과 IDC의 Record to Report MarketScape에서 리더로 인정받은 것입니다. 회사는 또한 2024년 7월 25일에 IPO를 완료하여 3억 5290만 달러를 모금했습니다. 2024년 4분기 가이던스는 총 수익을 1억 2700만 달러에서 1억 2900만 달러 사이로 예상하며, 비 GAAP 기준 운영 마진은 0%에서 2% 사이입니다.
OneStream a annoncé ses résultats financiers pour le troisième trimestre 2024, rapportant un chiffre d'affaires total de 129,1 millions de dollars, soit une augmentation de 21 % par rapport à l'année précédente, et un chiffre d'affaires d'abonnement de 110,7 millions de dollars, avec une hausse de 39 % par rapport à l'année précédente.
Toutefois, la société a enregistré une perte opérationnelle GAAP de 255,2 millions de dollars, principalement due à 260 millions de dollars de charges de compensation basées sur des actions, comparativement à un bénéfice opérationnel GAAP de 7,0 millions de dollars au troisième trimestre 2023. Le bénéfice opérationnel non-GAAP s'élevait à 5,5 millions de dollars, en baisse par rapport à 8,4 millions de dollars l'année précédente. Le flux de trésorerie net provenant des activités d'exploitation était de 2,4 millions de dollars, et le flux de trésorerie disponible était de 1,3 million de dollars, tous deux en amélioration par rapport au troisième trimestre 2023.
Parmi les faits marquants récents, on note le lancement de l'Initiative Finance 2035 et la reconnaissance en tant que leader dans le MarketScape Record to Report d'IDC. L'entreprise a également complété son introduction en bourse (IPO) le 25 juillet 2024, levant 352,9 millions de dollars. Les prévisions pour le quatrième trimestre 2024 projettent un chiffre d'affaires total compris entre 127 millions et 129 millions de dollars avec une marge opérationnelle non-GAAP de 0 % à 2 %.
OneStream hat seine finanziellen Ergebnisse für das dritte Quartal 2024 bekannt gegeben und berichtet von einem Gesamtumsatz von 129,1 Millionen Dollar, was einem Anstieg von 21% im Jahresvergleich entspricht, sowie einem Abonnementumsatz von 110,7 Millionen Dollar, was einem Anstieg von 39% im Jahresvergleich entspricht.
Das Unternehmen verzeichnete jedoch einen GAAP-basierten Betriebsverlust von 255,2 Millionen Dollar, hauptsächlich aufgrund von 260 Millionen Dollar an aktienbasierten Vergütungsaufwendungen, verglichen mit einem GAAP-basierten Betriebseinkommen von 7,0 Millionen Dollar im dritten Quartal 2023. Das non-GAAP Betriebseinkommen betrug 5,5 Millionen Dollar, ein Rückgang von 8,4 Millionen Dollar im selben Zeitraum des Vorjahres. Der durch betriebliche Tätigkeiten bereitgestellte Netto-Cashflow betrug 2,4 Millionen Dollar und der freie Cashflow lag bei 1,3 Millionen Dollar, beide mit Verbesserungen gegenüber dem dritten Quartal 2023.
Zu den jüngsten Höhepunkten gehört der Start der Finance 2035 Initiative und die Anerkennung als Marktführer im IDC Record to Report MarketScape. Das Unternehmen hat zudem am 25. Juli 2024 seinen Börsengang (IPO) abgeschlossen und 352,9 Millionen Dollar eingeworben. Die Prognose für das vierte Quartal 2024 geht von einen Gesamtumsatz zwischen 127 Millionen und 129 Millionen Dollar aus, mit einer non-GAAP-Betriebs Gewinnmarge von 0% bis 2%.
- Total revenue increased by 21% YoY to $129.1 million.
- Subscription revenue grew by 39% YoY to $110.7 million.
- Net cash provided by operating activities was $2.4 million, improving from a negative $4.4 million in Q3 2023.
- Free cash flow was positive at $1.3 million, compared to negative $5.3 million in Q3 2023.
- Successful IPO raised $352.9 million.
- GAAP operating loss of $255.2 million, compared to a GAAP operating income of $7.0 million in Q3 2023.
- Non-GAAP operating income decreased to $5.5 million from $8.4 million in Q3 2023.
- GAAP operating margin was (198)%, a significant decline from 7% in Q3 2023.
Third Quarter 2024 Financial Highlights
- Total Revenue:
$129.1 million 21% year-over-year. - Subscription Revenue:
$110.7 million 39% year-over-year. - GAAP Loss / Income from Operations and Operating Margin: GAAP operating loss was
$255.2 million $7.0 million 7% for the third quarter of 2023. This included equity-based compensation expense of$260.0 million $1.4 million - Non-GAAP Operating Income and Non-GAAP Operating Margin: Non-GAAP operating income was
$5.5 million $8.4 million 4% compared to8% for the third quarter of 2023. - Net Cash Provided by / Used in Operating Activities: Net cash provided by operating activities was
$2.4 million $4.4 million - Free Cash Flow: Positive free cash flow of
$1.3 million $5.3 million
"We posted strong third quarter results, led by 39 percent year-over-year growth in subscription revenue and positive free cash flow," said Tom Shea, CEO, OneStream. "The market is ripe for what we do. As evidenced in our Finance 2035 initiative, CFOs are realizing that legacy technology and data overload are holding them back from becoming more strategic. Finance leaders are looking to OneStream to help them digitally transform, laying the foundation for our future growth."
Recent Developments and Business Highlights
- Splash EMEA User Conference. OneStream took its annual Splash User Conference to
Copenhagen , where three new innovations were introduced: OneStream Navigation Center, which builds upon the advanced Narrative Reporting capabilities and streamlines access to reports and bookmarks critical audit and narrative documents in one place; OneStream AI-Powered Anomaly Detection, which is a pre-packaged AI method that helps finance leaders detect anomalies for data cleansing, consolidation, and reporting; and OneStream Solution Exchange offerings to support Tax Pillar 2 regulatory reporting. - Launched the Finance 2035 Initiative. Earlier this month OneStream launched the Finance 2035 Initiative (www.finance2035.com), a report and platform to foster dialogue on how the Office of the CFO is evolving and how CFOs can become more strategic. Through a partnership with academia, economists and a survey of 2,000 global CFOs, CEOs, line of business executives and investors, the report examines what the next 10 years hold for businesses at large, and how external forces are both elevating and impacting the critical role played by CFOs in shaping that future.
- Leadership in IDC's Record to Report MarketScape. IDC, a premier global market intelligence analyst group, recognized OneStream as a Leader in its inaugural Record to Report MarketScape report. The record-to-report process is a fundamental aspect of the financial reporting cycle; it is crucial for CFOs, investors and shareholders as they provide a detailed and accurate account of a company's financial activities. OneStream was recognized as a Leader based on our capabilities, including reporting such as Microsoft Power BI, the OneStream Solution Exchange, a robust AI roadmap and Strategies among 9 vendors who were evaluated.
- 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
Financial Outlook
OneStream is providing the following guidance for the fourth quarter of 2024 and the full year 2024:
Q4'24 | FY24 | ||
Total Revenue | |||
Non-GAAP Operating Margin | (2)% - (1)% | ||
Non-GAAP Net Income per Share | |||
Equity-Based Compensation |
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 equity-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 third quarter of 2024 and its outlook for the fourth 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: | Thursday, November 7, 2024 |
Time: | 4:30 p.m. ET / 1:30 p.m. PT |
Webcast: |
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, and our guidance for total revenue, non-GAAP operating margin, non-GAAP net income per share and equity-based compensation for the fourth quarter ending December 31, 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 Quarterly Report on Form 10-Q for the quarter ended September 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 income, non-GAAP operating margin, 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 Income
We define non-GAAP operating income as income 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 income as a percentage of total revenue.
Non-GAAP Net Income Per Share
We define non-GAAP net income as net (loss) / income 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. We define non-GAAP net income per share as non-GAAP net income 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.
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 1,500 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) (Unaudited) | ||||||||
As of | ||||||||
September 30, | December 31, | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 495,458 | $ | 117,087 | ||||
Accounts receivable, net | 113,525 | 107,308 | ||||||
Unbilled accounts receivable | 23,753 | 31,519 | ||||||
Deferred commissions | 19,238 | 17,225 | ||||||
Prepaid expenses and other current assets | 11,504 | 13,098 | ||||||
Total current assets | 663,478 | 286,237 | ||||||
Unbilled accounts receivable, noncurrent | 1,291 | 2,009 | ||||||
Deferred commissions, noncurrent | 42,421 | 41,030 | ||||||
Operating lease right-of-use assets | 17,953 | 18,559 | ||||||
Property and equipment, net | 10,513 | 10,266 | ||||||
Intangible assets, net | 2,842 | — | ||||||
Goodwill | 9,277 | — | ||||||
Other noncurrent assets | 2,334 | 3,458 | ||||||
Total assets | $ | 750,109 | $ | 361,559 | ||||
Liabilities and stockholders' / members' equity | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 19,246 | $ | 8,274 | ||||
Accrued compensation | 23,333 | 22,436 | ||||||
Accrued commissions | 6,702 | 10,158 | ||||||
Deferred revenue, current | 205,801 | 177,465 | ||||||
Operating lease liabilities, current | 3,318 | 2,505 | ||||||
Other accrued expenses and current liabilities | 12,607 | 11,532 | ||||||
Total current liabilities | 271,007 | 232,370 | ||||||
Deferred revenue, noncurrent | 4,157 | 5,141 | ||||||
Operating lease liabilities, noncurrent | 16,538 | 17,522 | ||||||
Other noncurrent liabilities | 199 | — | ||||||
Total liabilities | 291,901 | 255,033 | ||||||
Stockholders' / members' equity: | ||||||||
Members' interest | — | 107,151 | ||||||
Preferred stock | — | — | ||||||
Class A common stock | 3 | — | ||||||
Class B common stock | — | — | ||||||
Class C common stock | 7 | — | ||||||
Class D common stock | 13 | — | ||||||
Additional paid-in capital | 630,354 | — | ||||||
Accumulated other comprehensive loss | (450) | (625) | ||||||
Accumulated deficit | (299,885) | — | ||||||
Total stockholders' equity attributable to OneStream, Inc. / members' equity | 330,042 | 106,526 | ||||||
Non-controlling interests | 128,166 | — | ||||||
Total stockholders' / members' equity | 458,208 | 106,526 | ||||||
Total liabilities and stockholders' / members' equity | $ | 750,109 | $ | 361,559 | ||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share and per share amounts) (Unaudited) | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
2024 | 2023 | 2024 | 2023 | |||||||||||||
Revenues: | ||||||||||||||||
Subscription | $ | 110,722 | $ | 79,419 | $ | 309,542 | $ | 215,340 | ||||||||
License | 11,734 | 19,495 | 24,818 | 32,939 | ||||||||||||
Professional services and other | 6,684 | 8,090 | 22,572 | 24,048 | ||||||||||||
Total revenue | 129,140 | 107,004 | 356,932 | 272,327 | ||||||||||||
Cost of revenues: | ||||||||||||||||
Subscription(2) | 32,386 | 19,366 | 82,007 | 53,247 | ||||||||||||
Professional services and other(2) | 32,015 | 10,159 | 53,397 | 30,769 | ||||||||||||
Total cost of revenue | 64,401 | 29,525 | 135,404 | 84,016 | ||||||||||||
Gross profit | 64,739 | 77,479 | 221,528 | 188,311 | ||||||||||||
Operating expenses: | ||||||||||||||||
Sales and marketing(2) | 162,700 | 42,226 | 263,225 | 136,241 | ||||||||||||
Research and development(2) | 83,040 | 13,859 | 119,916 | 39,614 | ||||||||||||
General and administrative(2) | 74,170 | 14,391 | 110,509 | 43,176 | ||||||||||||
Total operating expenses | 319,910 | 70,476 | 493,650 | 219,031 | ||||||||||||
Loss from operations | (255,171) | 7,003 | (272,122) | (30,720) | ||||||||||||
Interest income, net | 5,022 | 1,133 | 8,319 | 2,702 | ||||||||||||
Other income (expense), net | 772 | (1,072) | 2,263 | (2,894) | ||||||||||||
(Loss) income before income taxes | (249,377) | 7,064 | (261,540) | (30,912) | ||||||||||||
(Benefit) provision for income taxes | (32) | 300 | 614 | 770 | ||||||||||||
Net (loss) income | $ | (249,345) | $ | 6,764 | $ | (262,154) | $ | (31,682) | ||||||||
Less: Net loss attributable to non-controlling interests | (77,402) | — | (77,402) | — | ||||||||||||
Net (loss) income attributable to OneStream, Inc. | $ | (171,943) | $ | 6,764 | $ | (184,752) | $ | (31,682) | ||||||||
Net loss per share of Class A and Class D common stock– | (1.06) | (1.06) | ||||||||||||||
Weighted-average shares of Class A and Class D common | 160,300 | 160,300 | ||||||||||||||
(1) Represents net loss per share of Class A common stock and Class D common stock and weighted-average shares of Class A common stock and Class D common stock outstanding for the period following OneStream Inc.'s IPO and related reorganization transactions. |
(2) Includes equity-based compensation expense as follows: |
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2024 | 2023 | 2024 | 2023 | |||||||||||||
Cost of subscription | $ | 4,981 | $ | — | $ | 4,981 | $ | — | ||||||||
Cost of professional services and other | 21,886 | — | 21,886 | 15 | ||||||||||||
Sales and marketing | 114,713 | 459 | 115,987 | 3,582 | ||||||||||||
Research and development | 62,251 | 104 | 63,505 | 413 | ||||||||||||
General and administrative | 56,152 | 864 | 57,456 | 3,077 | ||||||||||||
Total equity-based compensation | $ | 259,983 | $ | 1,427 | $ | 263,815 | $ | 7,087 | ||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (Unaudited) | ||||||||
Nine Months Ended | ||||||||
2024 | 2023 | |||||||
Cash flows from operating activities: | ||||||||
Net loss | $ | (262,154) | $ | (31,682) | ||||
Adjustments to reconcile net loss to net cash provided by (used in) | ||||||||
Depreciation and amortization | 2,586 | 2,230 | ||||||
Noncash operating lease expense | 2,303 | 1,669 | ||||||
Amortization of deferred commissions | 15,206 | 12,661 | ||||||
Equity-based compensation | 263,815 | 7,087 | ||||||
Other noncash operating activities, net | (1,402) | 3,180 | ||||||
Changes in operating assets and liabilities: | ||||||||
Accounts receivable, net | 967 | (8,499) | ||||||
Deferred commissions | (18,610) | (15,708) | ||||||
Prepaid expenses and other assets | (1,395) | (6,407) | ||||||
Accounts payable | 15,720 | (6,359) | ||||||
Deferred revenue | 27,349 | 33,298 | ||||||
Accrued and other liabilities | (8,371) | 3,000 | ||||||
Net cash provided by (used in) operating activities | 36,014 | (5,530) | ||||||
Cash flows from investing activities: | ||||||||
Purchases of property and equipment | (2,177) | (2,367) | ||||||
Acquisition of business, net of cash acquired | (7,594) | — | ||||||
Sales of marketable securities | — | 87,339 | ||||||
Net cash (used in) provided by investing activities | (9,771) | 84,972 | ||||||
Cash flows from financing activities: | ||||||||
Principal payments on finance lease obligation | — | (46) | ||||||
Proceeds from initial public offering, net of underwriting discounts and | 409,598 | — | ||||||
Repurchase of LLC Units | (56,663) | — | ||||||
Payments of deferred offering costs | (4,943) | — | ||||||
Proceeds from option exercises | 3,941 | 247 | ||||||
Repayments of borrowings on revolving credit facility | — | (3,500) | ||||||
Net cash provided by (used in) financing activities | 351,933 | (3,299) | ||||||
Effect of exchange rate changes on cash and cash equivalents | 195 | (94) | ||||||
Net increase in cash and cash equivalents | 378,371 | 76,049 | ||||||
Cash and cash equivalents - Beginning of period | 117,087 | 14,687 | ||||||
Cash and cash equivalents - End of period | $ | 495,458 | $ | 90,736 | ||||
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) | ||||||||
Non-GAAP Operating Income | ||||||||
Three Months Ended September 30, | ||||||||
2024 | 2023 | |||||||
(in thousands) | ||||||||
(Loss) income from operations | $ | (255,171) | $ | 7,003 | ||||
Equity-based compensation expense | 259,983 | 1,427 | ||||||
Employer taxes on employee stock transactions | 393 | — | ||||||
Amortization of acquired intangible assets | 275 | — | ||||||
Non-GAAP operating income | $ | 5,480 | $ | 8,430 | ||||
Non-GAAP Operating Margin | ||||||||
Three Months Ended September 30, | ||||||||
2024 | 2023 | |||||||
(in thousands) | ||||||||
Operating margin | (198) | % | 7 | % | ||||
Equity-based compensation expense | 201 | % | 1 | % | ||||
Employer taxes on employee stock transactions | — | — | ||||||
Amortization of acquired intangible assets | — | — | ||||||
Non-GAAP operating margin(1) | 4 | % | 8 | % | ||||
(1) Non-GAAP operating margin may not foot due to rounding. |
Free Cash Flow | ||||||||
Three Months Ended September 30, | ||||||||
2024 | 2023 | |||||||
(in thousands) | ||||||||
Net cash provided by (used in) operating activities | $ | 2,360 | $ | (4,372) | ||||
Purchases of property and equipment | (1,077) | (923) | ||||||
Free cash flow | 1,283 | (5,295) | ||||||
Net cash used in investing activities | $ | (1,077) | $ | (831) | ||||
Net cash provided by financing activities | $ | 352,978 | $ | — | ||||
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SOURCE OneStream, Inc.
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