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OS

OneStream, Inc. Class A Common Stock

OS

OneStream, Inc. Class A Common Stock • NASDAQ
$20.82 ▲ 1.73% (+0.35)
Market Cap $5.49 B
52w High $32.04
52w Low $16.51
Dividend Yield 0%
P/E -43.39
Volume 327.55K
Outstanding Shares 188.05M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $154.303M ▲ $122.509M ▼ $-8.85M ▲ -5.735% ▲ $-0.05 ▲ $-10.505M ▲
Q2-2025 $147.59M ▲ $133.438M ▲ $-18.432M ▲ -12.489% ▲ $-0.1 ▲ $-31.135M ▲
Q1-2025 $136.309M ▲ $132.604M ▼ $-24.016M ▲ -17.619% ▲ $-0.14 ▲ $-38.836M ▲
Q4-2024 $132.475M ▲ $135.956M ▼ $-31.449M ▲ -23.74% ▲ $-0.19 ▲ $-46.337M ▲
Q3-2024 $129.14M $319.91M $-171.943M -133.145% $-1.07 $-254.13M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $653.851M ▲ $949.447M ▲ $386.579M ▲ $472.1M ▲
Q2-2025 $652.082M ▲ $910.53M ▲ $363.906M ▲ $458.177M ▲
Q1-2025 $593.866M ▲ $867.332M ▲ $355.117M ▲ $412.891M ▲
Q4-2024 $544.174M ▲ $823.221M ▲ $332.263M ▲ $386.174M ▲
Q3-2024 $495.458M $750.109M $291.901M $330.042M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-8.85M ▲ $4.967M ▼ $-178K ▲ $-2.685M ▼ $1.769M ▼ $4.789M ▼
Q2-2025 $-24.81M ▼ $29.741M ▼ $-4.066M ▼ $32.539M ▲ $58.216M ▲ $29.375M ▼
Q1-2025 $-24.016M ▲ $36.197M ▲ $-380K ▲ $13.314M ▼ $49.692M ▲ $35.817M ▲
Q4-2024 $-44.505M ▲ $25.138M ▲ $-441K ▲ $24.52M ▼ $48.716M ▼ $24.697M ▲
Q3-2024 $-171.943M $2.36M $-1.077M $352.978M $354.943M $1.283M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
License
License
 $20.00M ▲$0 ▼$10.00M ▲$0 ▼
Professional Services And Other
Professional Services And Other
 $20.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲
Subscription and Circulation
Subscription and Circulation
 $320.00M ▲$130.00M ▼$130.00M ▲$140.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been growing at a healthy clip each year, and the core software business shows solid gross profitability. However, the company is still firmly in investment mode: operating losses and net losses remain meaningful and actually widened most recently after being close to breakeven the prior year. This suggests a deliberate choice to spend heavily on growth—likely in sales, marketing, and R&D—rather than to optimize for near‑term profit. The trade‑off is clear: strong top‑line momentum, but with increasing accounting losses and more negative earnings per share in the latest period.

Balance Sheet

Balance Sheet The balance sheet has strengthened considerably, most likely helped by the recent listing. Cash levels are now substantial relative to the size of the business, and total assets have expanded. Debt is very modest, and shareholder equity has moved from negative a few years ago to clearly positive, giving the company a much more solid financial foundation. Overall, the balance sheet looks conservative and provides a cushion to support ongoing investments and operating losses for some time, assuming conditions don’t materially worsen.

Cash Flow

Cash Flow Despite reporting accounting losses, the business has been generating positive operating cash flow in the last two years, and free cash flow has also turned positive and improved. This is a favorable sign: the model appears relatively capital‑light, with limited spending on physical assets, and the gap between cash flow and accounting profit suggests significant non‑cash expenses or working capital movements. Still, the room for error is not unlimited—continued positive cash generation will depend on maintaining growth and controlling the cost base as the company scales.

Competitive Edge

Competitive Edge OneStream competes in a crowded and strategic area: software for the Office of the CFO, where large incumbents like Oracle and SAP and cloud players are well entrenched. Its core advantage lies in a single, unified platform that handles consolidation, planning, and reporting together, reducing complexity and integration headaches for customers. Features like Extensible Dimensionality and the MarketPlace of add‑on solutions deepen stickiness and raise switching costs. The Microsoft alliance, especially around AI and integration with tools like Excel and Teams, strengthens its reach and credibility. The flip side is execution risk—winning deals against powerful incumbents, maintaining customer satisfaction at scale, and staying ahead in AI‑driven finance will be critical to preserving this emerging moat.

Innovation and R&D

Innovation and R&D The company is clearly leaning into innovation as its main growth engine. It is investing heavily in its unified platform, expanding the MarketPlace with specialized applications, and pushing hard into AI with the SensibleAI portfolio for forecasting, anomaly detection, and generative use cases in finance. These efforts are expensive and are a key driver of current losses, but they also create differentiation and can deepen customer engagement if they deliver real productivity gains. Future value will depend on how quickly customers adopt these new capabilities, how seamlessly they work within existing finance workflows and Microsoft tools, and whether OneStream can maintain a fast pace of improvement without overspending.

Summary

Overall, OneStream looks like an early‑stage, high‑growth software business that has moved from a relatively constrained balance sheet to a much stronger one, with ample cash and low debt. Revenue and gross profit are growing well, and cash generation is better than the income statement suggests, but profitability has moved further into the red as the company accelerates investment. Strategically, it has a differentiated, unified finance platform, growing AI capabilities, and a notable partnership with Microsoft, all of which support a credible competitive story. The central tension is straightforward: the path ahead is about converting product and partnership advantages into sustained customer wins and efficient scale, while managing the risks of rising costs, intense competition from large incumbents, and the need to keep innovating in a rapidly evolving AI‑driven finance market.

NEWS

November 18, 2025 · 3:05 PM UTC

OneStream Deepens Strategic Alliance with Microsoft to Accelerate AI Adoption and Value for Office of the CFO

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November 7, 2025 · 9:00 AM UTC

BioAtla's Mecbotamab Vedotin (Mec-V), an AXL-targeting ADC, Demonstrates a Median Overall Survival (OS) of 21.5 months in Subtypes of Refractory Soft Tissue Sarcomas

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November 6, 2025 · 4:05 PM UTC

OneStream Announces Third Quarter 2025 Financial Results

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October 30, 2025 · 6:00 AM UTC

New OneStream Research Finds 75% of CFOs Lead Enterprise AI Strategy, Yet 1 in 3 Have Successfully Deployed AI at Scale

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October 16, 2025 · 6:45 AM UTC

Merck Announces Phase 3 KEYNOTE-B96 Trial Met Secondary Endpoint of Overall Survival (OS) in All Comers Population of Patients With Platinum-Resistant Recurrent Ovarian Cancer

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