Tearsheet

OneStream (OS)

Market Price (12/5/2025): $18.75 | Market Cap: $3.5 Bil
Sector: Information Technology | Industry: Systems Software

OneStream (OS)

Market Price (12/5/2025): $18.75
Market Cap: $3.5 Bil
Sector: Information Technology
Industry: Systems Software

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -18%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -137 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -24%
1	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 24%	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.6%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%
3	Megatrend and thematic drivers Megatrends include Cloud Computing, and Automation & Robotics. Themes include Software as a Service (SaaS), and Process / Warehouse Automation.

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -18%
1	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 24%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%
3	Megatrend and thematic drivers Megatrends include Cloud Computing, and Automation & Robotics. Themes include Software as a Service (SaaS), and Process / Warehouse Automation.
4	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -137 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -24%
5	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.6%

Valuation, Metrics & Events

	12/5/25	2024	2023	2022
Share Price CYE	$18.75	$28.52
Market Cap CYE ($ Bil)	3.5	4.9	-	-
Total Debt ($ Bil)	0.0	0.0	0.0	0.0
Total Cash ($ Bil)	0.7	0.5	0.1	0.1
Enterprise Value ($ Bil)	2.9	4.9
Valuation Ratios
P/S TTM	6.0	9.5	0.0	0.0
P/EBIT TTM	-25.1	-14.6	0.0	0.0
P/E TTM	-41.6	-21.6	0.0	0.0
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9	2.6
P/EBIT TTM (Sector)	0.4	-0.0	-0.1	-0.7
P/E TTM (Sector)	-0.5	-0.3	-0.4	-0.8

	12/5/25	2024	2023	2022
Share Price CYE	$18.75	$28.52
Market Cap CYE ($ Bil)	3.5	4.9	-	-
Total Debt ($ Bil)	0.0	0.0	0.0	0.0
Total Cash ($ Bil)	0.7	0.5	0.1	0.1
Enterprise Value ($ Bil)	2.9	4.9
Valuation Ratios
P/S TTM	6.0	9.5	0.0	0.0
P/EBIT TTM	-25.1	-14.6	0.0	0.0
P/E TTM	-41.6	-21.6	0.0	0.0
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9	2.6
P/EBIT TTM (Sector)	0.4	-0.0	-0.1	-0.7
P/E TTM (Sector)	-0.5	-0.3	-0.4	-0.8

	OS	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	0.6
Rev Chg Q	19.5%	7.1%
Rev Chg LTM	24.2%	6.1%
Rev Chg 3Y Avg	24.2%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.1
CFO LTM ($ Bil)	0.1
Net Inc LTM ($ Bil)	-0.1
Op Mgn LTM	-24.0%	18.8%
CFO/Rev LTM	16.8%	20.5%
Net Inc Mgn	-14.5%	13.1%
VALUATION	HIGH
P/S	6.0	3.2
P/CFO	35.9	15.8
P/FCF	36.4	20.5
P/E	-41.6	23.5
STABILITY	VERY GOOD
Debt/Equity	0.01	0.20
Cash/Assets	0.69	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Number of Customers	1739	9302025	Link
AI Bookings Year-over-Year Growth	60%	11062025	Link
Billings	178 million	9302025	Link
Annual Recurring Revenue (ARR)	568 million	12312024	Link
Gross Revenue Retention Rate	98%	10252024	Link
Recurring Revenue Percentage	80%	9042025	Link
Current Remaining Performance Obligation (cRPO)	430 million	12312024	Link
Number of Employees	1600	11062025	Link

Recent
11/06/2025	Earnings Release	Rev: $154 Mil (A) vs. $157 Mil (E) EPS: 0.08 (A) vs. $0.02 (E)
Upcoming
2/10/2026	Earnings Release	Rev: - EPS: -

OS Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

Here are five key points highlighting why OneStream (OS) stock moved by approximately -9.9% from August 31, 2025, to December 5, 2025:

1. Negative Market Reaction to Q3 2025 Earnings Despite Beat. Despite OneStream reporting a 19% year-over-year increase in total revenue to $154.3 million and non-GAAP earnings per share (EPS) of $0.08, exceeding analyst estimates, the stock experienced a notable decline of approximately 4.82% in after-hours trading and around 5.1% the following day after the Q3 2025 earnings release on November 6, 2025. This negative reaction was attributed to investor concerns over a significant 64% decline in license revenue and a perceived deceleration in overall growth rates, alongside flat non-GAAP EPS year-over-year.

2. Stock Reaching an All-Time Low in October 2025. OneStream's stock reached an all-time low of $16.51 on October 15 or 16, 2025. This significant drop within the specified period reflects considerable selling pressure and a pronounced negative sentiment among investors.

3. Multiple Analyst Downgrades and Price Target Reductions. Several analyst firms revised their outlook on OneStream, reducing price targets and, in some cases, downgrading ratings during the period. Piper Sandler, Mizuho, Wedbush, and Raymond James all decreased their price targets for OS in August 2025. Additionally, Citigroup reduced its target price and set a "neutral" rating on October 28, 2025, while Weiss Ratings reissued a "sell" rating on October 8, 2025, collectively signaling a more cautious investment sentiment.

4. Persistent Investor Caution Regarding Profitability and Decelerating Growth. Investors maintained a cautious stance concerning OneStream's path to consistent profitability and observed a gradual deceleration in billings growth rates, which declined from 27% in Q3 2024 to 21% in Q3 2025, despite overall revenue growth. This ongoing skepticism about the company's financial efficiency and growth trajectory contributed to the stock's downward pressure.

5. Muted Market Response to Positive Strategic Announcements. Despite OneStream making several seemingly positive strategic announcements, such as new AI-focused product launches in October 2025 and a deepened alliance with Microsoft to accelerate AI adoption on November 18, 2025, these were often met with flat or negative stock price reactions. This pattern suggests a lack of investor confidence that these initiatives would translate into significant short-term stock performance gains, further contributing to the overall negative movement.

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Stock Movement Drivers

Fundamental Drivers

The -4.7% change in OS stock from 9/4/2025 to 12/4/2025 was primarily driven by a -4.7% change in the company's P/S Multiple.

	9042025	12042025	Change
Stock Price ($)	19.66	18.73	-4.73%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	545.51	570.68	4.61%
P/S Multiple	6.43	6.13	-4.68%
Shares Outstanding (Mil)	178.30	186.63	-4.67%
Cumulative Contribution			-4.94%

LTM = Last Twelve Months as of date shown

Market Drivers

9/4/2025 to 12/4/2025

	Return	Correlation
OS	-4.7%
Market (SPY)	5.4%	37.7%
Sector (XLK)	-44.6%	3.0%

Fundamental Drivers

The -35.6% change in OS stock from 6/5/2025 to 12/4/2025 was primarily driven by a -37.8% change in the company's P/S Multiple.

	6052025	12042025	Change
Stock Price ($)	29.07	18.73	-35.57%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	515.42	570.68	10.72%
P/S Multiple	9.85	6.13	-37.84%
Shares Outstanding (Mil)	174.73	186.63	-6.81%
Cumulative Contribution			-35.87%

LTM = Last Twelve Months as of date shown

Market Drivers

6/5/2025 to 12/4/2025

	Return	Correlation
OS	-35.6%
Market (SPY)	15.7%	31.0%
Sector (XLK)	-38.3%	2.8%

Fundamental Drivers

The -41.2% change in OS stock from 12/4/2024 to 12/4/2025 was primarily driven by a -19.2% change in the company's Shares Outstanding (Mil).

	12042024	12042025	Change
Stock Price ($)	31.86	18.73	-41.21%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	�	570.68	�
P/S Multiple	�	6.13	�
Shares Outstanding (Mil)	156.58	186.63	-19.19%
Cumulative Contribution			�

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2024 to 12/4/2025

	Return	Correlation
OS	-41.2%
Market (SPY)	13.7%	52.5%
Sector (XLK)	-39.3%	22.6%

Fundamental Drivers

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Market Drivers

12/5/2023 to 12/4/2025

	Return	Correlation
OS
Market (SPY)	53.3%	51.0%
Sector (XLK)	-20.1%	23.8%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
OS Return	-	-	-	-	-	-34%	-34%
Peers Return	13%	13%	-38%	33%	-9%	-1%	-4%
S&P 500 Return	16%	27%	-19%	24%	23%	17%	112%
Monthly Win Rates [3]
OS Win Rate	-	-	-	-	60%	50%
Peers Win Rate	23%	40%	30%	45%	45%	58%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
OS Max Drawdown	-	-	-	-	-	-42%
Peers Max Drawdown	-8%	-1%	-42%	-20%	-26%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: GEN, PATH, S, VRNT, CHOW.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/4/2025 (YTD)

How Low Can It Go

OS has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.

Unique Key	Event	XLK	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-34.0%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	51.6%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	278 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-31.5%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	46.0%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	79 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-24.1%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	31.8%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	105 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-53.6%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	115.3%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1183 days	1480 days

Compare to

In The Past

SPDR Select Sector Fund's stock fell -34.0% during the 2022 Inflation Shock from a high on 12/27/2021. A -34.0% loss requires a 51.6% gain to breakeven.

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About OneStream (OS)

Our vision is to be the operating system for modern Finance by unifying core financial functions and empowering the CFO to become a critical driver of business strategy and execution. OneStream delivers a unified, AI-enabled and extensible software platform—the Digital Finance Cloud—that modernizes and increases the strategic impact of the Office of the CFO. Our platform unifies core financial and broader operational data and processes within a single platform, with solutions that maintain the integrity of corporate reporting standards for Finance while providing operationally significant insights for business users. With embedded applied AI and machine learning technologies built specifically for Finance, our platform automates and streamlines workflows, accelerates analysis and improves forecast accuracy, equipping the Office of the CFO to report on, predict and guide business performance. Our platform’s extensible architecture also enables customers to rapidly adopt and develop new solutions that meet the unique and continually evolving needs of their business. The Digital Finance Cloud empowers the Office of the CFO to form a comprehensive, dynamic and predictive view of the entire enterprise, providing corporate leaders the control, visibility and agility required to proactively adjust business strategy and day-to-day execution. In many organizations, the Office of the CFO has struggled to keep pace with the demands of modern business. Amidst ongoing global economic and geopolitical uncertainty, increased competitive pressure and evolving regulatory and financial reporting requirements, corporate leaders are asking the Office of the CFO to rapidly identify, analyze and assess these developments to guide business decision-making and outcomes. Historically, Finance teams have operated in silos, relying on fragmented technology systems based on a combination of point solutions and legacy applications that fail to provide a single source of truth for financial and operational data. Traditional Office of the CFO tools and workflows are inefficient and incapable of providing today’s corporate leaders with the timely strategic inputs they demand to dynamically manage their business. Since our inception, our platform has been purpose-built to advance and modernize the Office of the CFO. Our co-founders and core team of software engineers include former Finance practitioners and each of them has more than three decades of experience building financial applications. They were also instrumental in developing the first generation of enterprise performance management, or EPM, software. When they started OneStream, our founding team set out to address the data quality and functional limitations of legacy finance and EPM systems and deliver a modern, cloud-based platform to comprehensively address the requirements of Finance teams and enterprise leaders. They designed our platform to improve the reliability of business data, consolidate and accelerate Finance workflows and seamlessly evolve with the needs of customers without adding technical debt. The Digital Finance Cloud addresses the strict requirements of auditability, transparency and repeatability for critical finance and accounting processes, while maintaining the flexibility, agility and relevance essential for impactful financial and operational planning and analysis. To achieve this, our platform unifies financial and operational data from systems across the enterprise. With powerful financial intelligence across parameters such as accounts, intercompany accounting and foreign currency exchange, among others, our platform accounts for the interdependencies among processes to automatically reconcile and cascade changes, establishing a dynamic and unified data model. From this foundation, our platform allows for the reporting dimensions of each financial and operational process to be customized, empowering users to access the insights and data views that are most relevant to their needs while ultimately maintaining alignment to corporate and external reporting standards. In addition, our platform solutions are powered by sophisticated applied AI and machine learning technologies for Finance, built on our core tenets of auditability, transparency and repeatability. Our AI-powered solutions, including predictive planning and analytics and guided workflows, among others, enable enhanced productivity and more accurate forecasting. Our unified platform’s highly differentiated capabilities enable us to deliver a comprehensive set of solutions for the Office of the CFO that eliminates the need for our customers to use multiple disparate legacy products, applications and modules. Our solutions include the following: • Financial Close and Consolidation. Streamlines financial processes with advanced capabilities designed to automate tasks and manage the immense complexity and strict standards of financial reporting and consolidation. • Financial and Operational Planning and Analysis. Enables financial and operational planning, budgeting, forecasting and results analysis for individual business functions and the synchronization of those plans across the entire organization. • Financial and Operational Reporting. Provides end-to-end visibility of analytics and key metrics to all stakeholders, including executives, Finance professionals, line-of-business leaders and other business partners. The extensible architecture of the Digital Finance Cloud enables our customers to expand their adoption of our platform and the value they derive from it. Our solutions are built on a single foundation of technical shared services, including enterprise application integration, financial data quality management, security and AI-services. Our developers, as well as a growing developer community consisting of customers and partners, can leverage these technical shared services to build additional applications directly within OneStream’s integrated software development environment. This extensible architecture and developer ecosystem accelerates the pace of innovation, expands the breadth of our financial and operational use cases and enhances the value our customers can derive from their OneStream investment. As Finance teams experience the benefits of our unified approach that drives streamlined financial processes and improved forecasting accuracy, they often seek opportunities to deploy our platform beyond our core solutions. We offer a number of applications that address these expanded financial use cases, such as transaction matching, tax provision, account reconciliations, cash flow forecasting and lease accounting, among others. In addition to expanded finance use cases, customers can also unify operational planning and analytics with applications built on our platform. Operational applications available today include capital planning, sales planning, workforce planning and profitability analysis, as well as machine learning-enabled demand forecasting, labor planning and merchandise financial planning. Additionally, our partners have built industry-specific applications atop our platform, such as Automotive Planning Factory. As a result, the Digital Finance Cloud can power insights and workflows for a diverse set of business users, including Finance, sales, marketing, operations, human resources and IT professionals, embedding our platform more deeply in our customers’ organizations and their critical business processes. By unifying those business processes within our platform and data model, enterprises can eliminate departmental silos, enable cross-functional collaboration and further enrich enterprise-wide visibility while reducing technical debt. To enable our customers to rapidly expand the use of our platform as their business needs evolve, the OneStream Solution Exchange allows them to discover, download and configure additional applications built by OneStream and many of the applications built by our development partners. We launched the OneStream Solution Exchange in 2023 and currently provide more than 90 first-party and third-party developed applications, demonstrating our continued pace of innovation and ability to deliver vertical specific applications. The OneStream Solution Exchange includes both applications available to our customers at no additional cost, as well as fee-based applications built by us or our partners. Our customers include global enterprises, mid-market organizations and government entities. We had 1,423 customers as of March 31, 2024, increasing from 1,148 customers as of December 31, 2022. Our customers are in a broad range of industries, including industrials and manufacturing, healthcare and life sciences, consumer and retail, financial services, construction and real estate, government and education, as well as technology, media and communications. We believe our ability to address the needs of the world’s most complex organizations is evidenced by the fact that more than 75 of the Fortune 500 companies rely on OneStream as of March 31, 2024. As of March 31, 2023 and 2024, 6% and 5% of our total customers were Fortune 500 companies and collectively accounted for 14% and 15% of our software revenue in the periods then ended. We primarily employ a direct sales model to sell into and expand within our customers’ organizations. Our sales force has extensive experience, industry knowledge and domain expertise of traditional financial and EPM market segments. Our sales and marketing organization engages with prospective customers across multiple in-person and virtual channels and provides them with user conferences, platform demonstrations, application guides, whitepapers, webinars, presentations and other content to accelerate their understanding of our platform and drive greater adoption. To further expand our sales channels, we have obtained government certifications, including FedRAMP Moderate, which allow us to sell our cloud-delivered offerings into the public sector. Our platform’s ability to solve the most complex challenges within the Office of the CFO provides us with a distinct advantage in our efforts to acquire new customers. In addition, our global ecosystem of more than 250 go-to-market, implementation and development partners provides us with a significant source of lead generation and implementation support. We partner with boutique consulting firms and dedicated teams within larger consulting firms that have built their entire services practices around designing and implementing our platform for their clients. We also partner with global strategic consulting firms and global systems integrators, such as Accenture, IBM, KPMG and PwC, which introduce our platform to their clients as part of large-scale digital transformation projects as well as finance and business projects where our platform can help accelerate business initiatives and improve user experience. Our go-to-market partnerships with key technology providers, including Microsoft, enable us to better serve our customers and gain access to new accounts and buyer types. A growing number of our consulting and independent software vendor partners are building and productizing new functional and industry-specific applications atop our platform. We jointly promote these solutions through the OneStream Solution Exchange and monetize them through revenue-share arrangements. Our online community and OneStream WAVE developer conferences serve to foster and grow these developer relationships. We maintain an organizational focus on achieving 100% customer success by delivering long-term and expanded value to our users. From initial deployment, our platform’s unified data model and integrated development tools uniquely enable us to support our customers as they seek to leverage the Digital Finance Cloud for new use cases and develop industry-specific applications. Additionally, our dedicated customer success team is exclusively focused on aiding customers in speeding deployment, advancing adoption and maximizing value and return derived from our platform. We believe that we have exceptional customer satisfaction resulting from the significant value and return on investment provided by our platform, as evidenced by our dollar-based gross retention rate of 98% as of December 31, 2022 and 2023 and March 31, 2024. We have achieved rapid growth since first launching our platform. For 2022 and 2023, our software revenue was $245.5 million and $343.4 million, respectively, representing year-over-year growth of 40%. Our ARR was $335.9 million and $460.4 million as of December 31, 2022 and 2023, respectively, representing year-over-year growth of 37%. Of the growth in ARR in 2023, 72% was attributable to new customers and the remaining 28% was attributable to existing customers. We had 1,148 and 1,388 customers as of December 31, 2022 and 2023, respectively, representing year-over-year growth of 21%, and the average number of users per new customer grew by 19% from 2022 to 2023. We incurred net losses of $65.5 million and $28.9 million in 2022 and 2023, respectively, representing a year-over-year decrease of 56%. For the three months ended March 31, 2023 and 2024, our software revenue was $70.9 million and $101.9 million, respectively, representing year-over-year growth of 44%. Our ARR was $358.4 million and $480.0 million as of March 31, 2023 and 2024, respectively, representing year-over-year growth of 34%. Of the growth in ARR between March 31, 2023 and 2024, 74% was attributable to new customers and the remaining 26% was attributable to existing customers. We had 1,190 and 1,423 customers as of March 31, 2023 and 2024, respectively, representing year-over-year growth of 20%, and the average number of users per new customer grew by 16% during the same period. We incurred net losses of $23.1 million and $5.0 million in the three months ended March 31, 2023 and 2024, respectively, representing a year-over-year decrease of 79%. We were incorporated in Delaware on October 15, 2021 and have no material assets other than our ownership of LLC Units and have not engaged in any business or other activities except in connection with the Reorganization Transactions. Our principal executive offices are located at 191 N. Chester Street, Birmingham, Michigan 48009.

AI Generated Analysis | Feedback

Here are 1-3 brief analogies to describe OneStream:

Salesforce for corporate finance management. (OneStream unifies financial processes like planning, consolidation, and reporting on a single cloud platform, much like Salesforce did for customer relationship management.)
A modern, unified alternative to Oracle's financial planning and reporting software. (OneStream competes directly with and aims to replace legacy or modular financial performance management suites, particularly those from Oracle.)
Anaplan for the entire finance department, encompassing planning, consolidation, and reporting. (While Anaplan specializes in planning, OneStream offers a broader, unified platform that includes planning, but also adds financial consolidation and reporting.)

AI Generated Analysis | Feedback

Financial Close & Consolidation: Automates and streamlines the process of closing financial books and consolidating data from multiple entities.
Budgeting, Planning & Forecasting: Enables organizations to create detailed budgets, strategic plans, and accurate financial forecasts.
Reporting & Analytics: Provides tools for generating financial reports, dashboards, and performing in-depth analysis of business performance.
Account Reconciliations: Streamlines and automates the process of reconciling accounts to ensure data accuracy and compliance.
Tax Provisioning: Facilitates the calculation, reporting, and analysis of tax provisions for financial statements.
ESG Reporting: Helps companies collect, manage, and report on Environmental, Social, and Governance (ESG) metrics.

AI Generated Analysis | Feedback

OneStream (symbol: OS) sells primarily to other companies (B2B). Its Corporate Performance Management (CPM) software is used by medium to large enterprises across a wide range of industries for financial consolidation, planning, reporting, and analytics.

Some of OneStream's major customers and customer types, as highlighted in their public case studies and customer references, include:

The Carlyle Group (CG) - Global investment firm
Toyota Financial Services (subsidiary of TM) - Automotive financial services
Sempra Energy (SRE) - North American energy infrastructure company
Rolls-Royce (RYCEY) - Global power and propulsion company
United Airlines (UAL) - Major airline
Coca-Cola Europacific Partners (CCEP) - Global beverage company
Archer Daniels Midland (ADM) - Global food processing and commodities trading company
T-Mobile (TMUS) - Telecommunications company
JELD-WEN (JELD) - Global manufacturer of windows and doors
H&R Block (HRB) - Tax preparation company
Nordstrom (JWN) - Luxury department store chain
Rockwell Automation (ROK) - Provider of industrial automation and information products

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Microsoft Corporation (NASDAQ: MSFT)
Amazon.com, Inc. (NASDAQ: AMZN)

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Tom Shea, Chief Executive Officer and President

Tom Shea is a co-founder and original architect of OneStream, where he currently serves as CEO and, since May 1, 2025, also as President. Prior to co-founding OneStream, he was an original founder of UpStream Software in January 2000, where he invented and architected products that pioneered Financial Data Quality. UpStream Software was acquired by Hyperion in 2006, which was subsequently acquired by Oracle for over $3 billion. OneStream was bootstrapped from 2012 until 2019, when it received a significant investment and sold a majority stake to the private equity firm KKR & Co. Inc. OneStream then went public through an IPO in July 2024 with a $6 billion valuation. Earlier in his career, he spent 10 years in corporate finance at companies such as Chrysler, United Technologies, and ITT Automotive. He holds a BS in Accounting and Finance and an MBA in Systems Analysis and Design from Oakland University.

Bill Koefoed, Chief Financial Officer

Bill Koefoed joined OneStream as Chief Financial Officer in November 2019, bringing over 25 years of technology industry experience. Prior to OneStream, he served as CFO for online retailer Blue Nile. Before that, he was a partner and CFO for BCG Digital Ventures, part of The Boston Consulting Group, where he helped build, launch, and grow businesses for influential companies. He also spent nine years at Microsoft, including as CFO of Microsoft's Skype Division and General Manager of Investor Relations. Additionally, he served as CFO for IT automation firm Puppet. Earlier in his career, he held leadership roles at Hewlett-Packard, PricewaterhouseCoopers, and Arthur Andersen. OneStream was acquired by KKR in 2021 and went public in 2024, giving Mr. Koefoed experience with a private equity-backed company transitioning to public. He is a CPA (inactive) and holds an MBA and BS from the University of California, Berkeley.

Bob Powers, Co-Founder, Chief Technology Officer, and Director

Bob Powers is a co-founder of OneStream and serves as its Chief Technology Officer and a Director.

Craig Colby, Chief Success Officer

Craig Colby is a co-founder of OneStream. Effective May 1, 2025, he transitioned from his role as President to Chief Success Officer.

Ken Hohenstein, Chief Revenue Officer

Ken Hohenstein has served as OneStream's Chief Revenue Officer since January 2022. Prior to this, he was Senior Vice President, Americas Sales at OneStream from August 2016 to December 2021. His previous experience includes a managing director role at Huron Consulting and senior leadership positions at Oracle and Hyperion. He is an alumnus of the University of Massachusetts, Isenberg School of Management.

AI Generated Analysis | Feedback

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AI Generated Analysis | Feedback

OneStream (symbol: OS) operates within the Corporate Performance Management (CPM) software market, offering solutions that span financial close and consolidation, financial planning and analysis (FP&A), and broader financial automation for the Office of the CFO.

OneStream estimates its total addressable market (TAM) to be approximately $50 billion globally. This estimation is based on the total number of companies with 250 or more employees in North America, Europe, and Asia, and applying OneStream's average annual recurring revenue (ARR) against employee headcount.

Market Sizes for Main Products/Services:

Corporate Performance Management (CPM) Software: The global CPM software market size was estimated at USD 14.63 billion in 2025 and is projected to grow to USD 52.39 billion by 2034. Another estimate indicates the global CPM software market size was USD 7.13 billion in 2025 and is anticipated to reach USD 9.72 billion by 2030. The United States CPM software market size is projected at USD 4.866 billion in 2025, with Europe at USD 4.525 billion and China at USD 3.265 billion for the same year. North America holds a significant share, accounting for approximately 52% of the global CPM market.
Financial Close Software: The global financial close software market was valued at USD 8.4 billion in 2023 and is projected to reach USD 23.10 billion by 2031. Another source reported the global financial close management software market at USD 5.6 billion in 2024, with a projection to reach USD 14.8 billion by 2033. North America accounts for the largest share of this market, at approximately 43%.
Financial Planning and Analysis (FP&A) Software: The global financial planning software market was valued at USD 3.7 billion in 2021 and is projected to reach USD 16.9 billion by 2031. Another estimate places the global FP&A software market size at USD 3.88 billion in 2023, with a projection to expand to USD 13.43 billion by 2031.
Financial Automation Market (Broader Context): The global financial automation market, which encompasses OneStream's offerings, is projected to reach $20.7 billion by 2032, growing at a compound annual growth rate (CAGR) of over 14.2% from 2024 to 2032.

AI Generated Analysis | Feedback

OneStream (OS) is anticipated to drive future revenue growth over the next 2-3 years through several key strategies and market trends:

Continued Growth in Subscription Revenue and SaaS Conversions: OneStream is actively transitioning customers from traditional licenses to a Software-as-a-Service (SaaS) model, with subscription revenue being a significant growth driver. The company expects SaaS contracts to contribute an increasing share of its total revenue, as evidenced by a 27% year-over-year increase in subscription revenue in Q3 2025.
International Expansion, particularly in EMEA: International revenue saw a 37% growth in Q3 2025, with strong performance noted in the Europe, Middle East, and Africa (EMEA) region. This global demand and successful international market penetration are considered key factors in OneStream's positive revenue outlook for 2025.
AI-powered Product Innovation and Adoption: The launch and adoption of new AI-powered capabilities, such as Modern Financial Close, AI-powered ESG Planning & Reporting, SensibleAI Studio, and SensibleAI Agents, are significant drivers. AI bookings surged 60% year-over-year in the first half of 2025, with these innovations enhancing forecast accuracy, reducing generation time, and driving new bookings.
Expansion of Customer Base and Upselling through a Unified Platform: OneStream's customer count increased by 13% to 1,739 in Q3 2025. The company's unified platform, which integrates financial and operational data, appeals to CFOs aiming to modernize their finance functions. With a large estimated total addressable market (TAM) of $50 billion that is currently less than 2% penetrated, there is substantial room for acquiring new customers and expanding business within existing accounts through a multi-product strategy.
Increased Penetration of the Public Sector/Federal Market: Despite some recent challenges, OneStream's FedRAMP High certification opens significant opportunities for contracts with public sector organizations. This certification positions the company to pursue AI-driven government contracts, which are expected to accelerate revenue growth, as demonstrated by successful renewals and the addition of new federal customers.

AI Generated Analysis | Feedback

Share Issuance

On July 24, 2024, OneStream completed its Initial Public Offering (IPO), offering 24,500,000 shares of Class A common stock at $20.00 per share. Of these, 18,054,333 shares were sold by OneStream.
In November 2024, OneStream conducted a Post-IPO Secondary offering that raised $465 million. This included 5,993,052 shares of Class A common stock offered by OneStream as part of a non-dilutive "synthetic secondary" transaction.
Prior to its IPO, OneStream secured $200 million in Series B funding in April 2021, at a $6 billion valuation, which was an all-primary funding round aimed at accelerating global expansion and innovation.

Inbound Investments

OneStream received a $200 million Series B investment in April 2021, led by D1 Capital Partners, Tiger Global, and Investment Group of Santa Barbara.
A Post-IPO Secondary funding round in November 2024 brought in $465 million, with D1 Capital Partners, Tiger Global Management, and KKR among the lead investors.

Outbound Investments

OneStream acquired DataSense on May 1, 2024.
In the second quarter of 2025, OneStream acquired a suite of partner-developed productivity solutions, which included Allocations, Analytic Drill-Down, and Admin Assist.

Capital Expenditures

OneStream's free cash flow, defined as net cash provided by operating activities less purchases of property and equipment, was $4.8 million in Q3 2025.
The company's free cash flow significantly increased to $29.4 million in Q2 2025, up from $7.7 million in Q2 2024.
The company continues to invest in scaling its business infrastructure and developing new solutions to meet evolving market needs.

Better Bets than OneStream (OS)

	OS	Better Performance than OS
Metric	Value	INDUSTRY: Systems Software
Rev Chg LTM	24.2%	RBRK (47.7%), AFRM (37.0%), IOT (30.3%), NET (28.1%), TOST (25.8%)
Op Mgn LTM	-24.0%	MSFT (46.3%), NOW (13.9%), PANW (13.5%), CRWD (-8.7%), NET (-9.6%)
CFO/Rev LTM	16.8%	MSFT (50.0%), PANW (40.3%), NOW (38.2%), CRWD (32.0%), NET (26.8%)
FCF/Rev LTM	16.6%	PANW (37.6%), FTNT (30.9%), NOW (30.8%), MSFT (26.6%), CRWD (23.9%)
Total Yield	-2.4%	MSFT (3.4%), NOW (0.9%), PANW (0.8%), NET (-0.1%), CRWD (-0.2%)
P/S	6.0	DOX (2.2), TWLO (3.1), TOST (3.6), GEN (3.9), PATH (4.6)
P/Op Inc	-25.1

	OS	Better Performance than OS
Metric	Value	SECTOR: Information Technology
Rev Chg LTM	24.2%	NVDA (71.6%), MU (48.9%), PLTR (47.2%), AMD (31.8%), AVGO (28.0%)
Op Mgn LTM	-24.0%	NVDA (58.1%), MSFT (46.3%), AVGO (39.0%), AAPL (31.9%), ORCL (31.6%)
CFO/Rev LTM	16.8%	MSFT (50.0%), NVDA (46.6%), AVGO (42.4%), ORCL (36.5%), AAPL (26.6%)
FCF/Rev LTM	16.6%	PLTR (46.0%), NVDA (43.6%), AVGO (41.6%), MSFT (26.6%), AAPL (23.5%)
Total Yield	-2.4%	MSFT (3.4%), AAPL (3.0%), ORCL (2.8%), NVDA (2.3%), AVGO (1.5%)
P/S	6.0	IBM (4.0), QCOM (4.0), CSCO (4.9), MU (5.0), AMAT (5.1)
P/Op Inc	-25.1

	OS	Better Performance than OS
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	24.2%	HOOD (74.6%), MELI (36.9%), LLY (36.8%), WELL (32.6%), COF (25.4%)
Op Mgn LTM	-24.0%	META (43.2%), GOOGL (32.2%), AMZN (11.4%), TSLA (5.1%), WMT (4.2%)
CFO/Rev LTM	16.8%	META (56.8%), MA (56.1%), GOOGL (39.3%), LLY (20.5%), AMZN (18.1%)
FCF/Rev LTM	16.6%	MA (52.5%), META (23.7%), NFLX (20.7%), JNJ (20.3%), GOOGL (19.1%)
Total Yield	-2.4%	BRK-B (6.2%), GOOGL (4.6%), META (3.5%), AMZN (3.0%), TSLA (0.4%)
P/S	6.0	WMT (1.1), XOM (1.4), BRK-B (2.7), AMZN (3.5), JPM (4.9)
P/Op Inc	-25.1

		Best Bets In Information Technology Sector
	OS	VRSN	IDCC	NVDA	GEN	DBX	YOU	MPWR	DAVE	FISV	CRUS
What You Pay
P/E	-41.6	32.2	17.9	44.5	30.7	15.7	17.7	23.3	18.3	19.3	16.9
P/EBIT	-25.1	23.2	14.5	38.2	10.9	12.8	19.3	63.7	20.9	11.7	13.3
What You Get
Rev Chg Q	19.5%	7.3%	28.0%	55.6%	25.3%	-0.7%	15.5%	18.9%	63.0%	0.9%	3.5%
Rev Chg LTM	24.2%	5.5%	28.8%	71.6%	16.2%	-0.4%	17.8%	30.5%	53.8%	5.2%	2.2%
Rev Chg 3Y Avg	�	5.2%	27.1%	92.0%	16.5%	3.4%	31.0%	17.2%	38.6%	6.8%	-0.1%
FCF/Rev 3Y Avg	�	57.4%	54.2%	41.3%	36.7%	33.4%	32.5%	28.6%	26.0%	21.5%	21.1%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	With OneStream Stock Surging, Have You Considered The Downside?	Return
2	null
3	Why OneStream Stock Moved: OS Stock Has Lost 34% Since 2024 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)
4	OS Dip Buy Analysis
5	OneStream (OS) Valuation Ratios Comparison	Financials
6	OneStream (OS) Operating Cash Flow Comparison	Financials
7	OneStream (OS) Net Income Comparison	Financials
8	OneStream (OS) Operating Income Comparison	Financials
9	OneStream (OS) Revenue Comparison	Financials

	Title
0	ARTICLES

Trade Ideas

Select past ideas related to OS. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	1.9%	1.9%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	3.7%	3.7%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.1%	5.1%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	5.5%	5.5%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	8.0%	8.0%	0.0%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	1.9%	1.9%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	3.7%	3.7%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.1%	5.1%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	5.5%	5.5%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	8.0%	8.0%	0.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
USAR	USA Rare Earth	1.8	24.7%	58557.7%
PATH	UiPath	9.9	24.4%	45.4%
ASTS	AST SpaceMobile	17.6	18.2%	244.3%
FLNC	Fluence Energy	3.1	17.6%	47.0%
SAIC	Science Applications International	4.8	16.3%	-7.7%
AEVA	Aeva Technologies	0.9	16.0%	234.3%
AXGN	Axogen	1.5	16.0%	99.4%
SANA	Sana Biotechnology	1.3	15.9%	217.8%
OKLO	Oklo	15.6	15.6%	425.9%
RGTI	Rigetti Computing	9.0	15.4%	97.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HOV	Hovnanian Enterprises	0.7	-22.5%	-22.4%
SYM	Symbotic	6.6	-17.4%	155.1%
BBW	Build-A-Bear Workshop	0.6	-15.5%	7.1%
DJCO	Daily Journal	0.6	-11.9%	-22.5%
PVH	PVH	3.7	-11.9%	-26.9%
SNOW	Snowflake	78.7	-11.4%	52.0%
QURE	uniQure	1.2	-10.8%	28.8%
MBX	MBX Biosciences	1.0	-10.0%	65.7%
WLY	John Wiley & Sons	1.8	-8.6%	-18.7%
LUMN	Lumen Technologies	8.7	-8.3%	65.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	7.7	601.0%	-45.7%
HPP	Hudson Pacific Properties	6.1	591.8%	-36.1%
AEVA	Aeva Technologies	0.9	50.8%	234.3%
MPLT	MapLight Therapeutics	0.8	41.2%
USAR	USA Rare Earth	1.8	40.6%	58557.7%
PATH	UiPath	9.9	36.0%	45.4%
EVEX	Eve	1.6	34.4%	-7.4%
TMC	TMC The Metals	2.9	33.8%	596.4%
TE	T1 Energy	0.8	33.1%
INDI	Indie Semiconductor	0.9	32.1%	13.8%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.0	-52.7%	-69.4%
CTEV	Claritev	0.6	-32.7%
SYM	Symbotic	6.6	-30.7%	155.1%
FULC	Fulcrum Therapeutics	0.5	-22.6%	86.4%
HOV	Hovnanian Enterprises	0.7	-22.0%	-22.4%
VTYX	Ventyx Biosciences	0.6	-19.9%	265.3%
SIG	Signet Jewelers	3.5	-17.8%	7.2%
CMCL	Caledonia Mining	0.5	-17.8%	175.7%
QURE	uniQure	1.2	-17.7%	28.8%
URGN	UroGen Pharma	1.2	-17.5%	128.0%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
LXP	LXP Industrial Trust	2.8	406.1%	25.7%
OLMA	Olema Pharmaceuticals	2.4	237.1%	374.1%
COGT	Cogent Biosciences	5.4	178.2%	404.0%
CDTX	Cidara Therapeutics	5.9	119.6%	720.3%
SGML	Sigma Lithium	1.1	113.2%	-11.1%
IRWD	Ironwood Pharmaceuticals	0.6	99.5%	-15.8%
ALMS	Alumis	0.6	82.4%	5.6%
NPCE	NeuroPace	0.6	80.5%	51.7%
BW	Babcock & Wilcox Enterprises	0.7	80.5%	311.6%
CBLL	CeriBell	0.7	75.4%	-26.0%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CCOI	Cogent Communications	0.9	-53.0%	-74.0%
UP	Wheels Up Experience	0.5	-48.0%	-60.0%
TLRY	Tilray Brands	7.7	-41.8%	-45.7%
AMSC	American Superconductor	1.4	-41.4%	34.0%
CTEV	Claritev	0.6	-41.2%
BTDR	Bitdeer Technologies	2.5	-40.7%	-41.6%
FRMI	Fermi	11.1	-40.2%
JANX	Janux Therapeutics	1.0	-39.3%	-69.4%
ARDT	Ardent Health	1.2	-39.1%	-48.1%
SMR	NuScale Power	3.4	-35.9%	27.4%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
USAR	USA Rare Earth	1.8	24.7%	58557.7%
PATH	UiPath	9.9	24.4%	45.4%
ASTS	AST SpaceMobile	17.6	18.2%	244.3%
FLNC	Fluence Energy	3.1	17.6%	47.0%
SAIC	Science Applications International	4.8	16.3%	-7.7%
AEVA	Aeva Technologies	0.9	16.0%	234.3%
AXGN	Axogen	1.5	16.0%	99.4%
SANA	Sana Biotechnology	1.3	15.9%	217.8%
OKLO	Oklo	15.6	15.6%	425.9%
RGTI	Rigetti Computing	9.0	15.4%	97.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HOV	Hovnanian Enterprises	0.7	-22.5%	-22.4%
SYM	Symbotic	6.6	-17.4%	155.1%
BBW	Build-A-Bear Workshop	0.6	-15.5%	7.1%
DJCO	Daily Journal	0.6	-11.9%	-22.5%
PVH	PVH	3.7	-11.9%	-26.9%
SNOW	Snowflake	78.7	-11.4%	52.0%
QURE	uniQure	1.2	-10.8%	28.8%
MBX	MBX Biosciences	1.0	-10.0%	65.7%
WLY	John Wiley & Sons	1.8	-8.6%	-18.7%
LUMN	Lumen Technologies	8.7	-8.3%	65.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	7.7	601.0%	-45.7%
HPP	Hudson Pacific Properties	6.1	591.8%	-36.1%
AEVA	Aeva Technologies	0.9	50.8%	234.3%
MPLT	MapLight Therapeutics	0.8	41.2%
USAR	USA Rare Earth	1.8	40.6%	58557.7%
PATH	UiPath	9.9	36.0%	45.4%
EVEX	Eve	1.6	34.4%	-7.4%
TMC	TMC The Metals	2.9	33.8%	596.4%
TE	T1 Energy	0.8	33.1%
INDI	Indie Semiconductor	0.9	32.1%	13.8%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.0	-52.7%	-69.4%
CTEV	Claritev	0.6	-32.7%
SYM	Symbotic	6.6	-30.7%	155.1%
FULC	Fulcrum Therapeutics	0.5	-22.6%	86.4%
HOV	Hovnanian Enterprises	0.7	-22.0%	-22.4%
VTYX	Ventyx Biosciences	0.6	-19.9%	265.3%
SIG	Signet Jewelers	3.5	-17.8%	7.2%
CMCL	Caledonia Mining	0.5	-17.8%	175.7%
QURE	uniQure	1.2	-17.7%	28.8%
URGN	UroGen Pharma	1.2	-17.5%	128.0%

Peer Comparisons for OneStream

Peers to compare with:

Financials

	OS	GEN	PATH	S	VRNT	CHOW	Median
Name	OneStream	Gen Digi.	UiPath	Sentinel.	Verint S.	ChowChow.
Mkt Price	18.73	27.06	18.48	16.97	-	10.18	18.48
Mkt Cap	3.5	16.7	9.9	5.6	-	-	7.8
Rev LTM	571	4,473	1,497	907	-	-	1,202
Op Inc LTM	-137	1,697	-46	-328	-	-	-92
FCF LTM	95	1,300	310	17	-	-	202
FCF 3Y Avg	-	1,463	268	-44	-	-	268
CFO LTM	96	1,324	335	41	-	-	215
CFO 3Y Avg	-	1,480	282	-22	-	-	282

Growth & Margins

	OS	GEN	PATH	S	VRNT	CHOW	Median
Name	OneStream	Gen Digi.	UiPath	Sentinel.	Verint S.	ChowChow.
Rev Chg LTM	24.2%	16.2%	8.3%	25.4%	-	-	20.2%
Rev Chg 3Y Avg	-	16.5%	14.6%	45.6%	-	-	16.5%
Rev Chg Q	19.5%	25.3%	14.4%	21.7%	-	-	20.6%
QoQ Delta Rev Chg LTM	4.6%	5.8%	3.1%	5.0%	-	-	4.8%
Op Mgn LTM	-24.0%	37.9%	-3.1%	-36.2%	-	-	-13.5%
Op Mgn 3Y Avg	-	36.7%	-12.6%	-53.2%	-	-	-12.6%
QoQ Delta Op Mgn LTM	44.7%	-1.3%	5.8%	2.1%	-	-	4.0%
CFO/Rev LTM	16.8%	29.6%	22.4%	4.5%	-	-	19.6%
CFO/Rev 3Y Avg	-	37.1%	20.7%	-5.5%	-	-	20.7%
FCF/Rev LTM	16.6%	29.1%	20.7%	1.8%	-	-	18.6%
FCF/Rev 3Y Avg	-	36.7%	19.6%	-8.7%	-	-	19.6%

Valuation

	OS	GEN	PATH	S	VRNT	CHOW	Median
Name	OneStream	Gen Digi.	UiPath	Sentinel.	Verint S.	ChowChow.
Mkt Cap	3.5	16.7	9.9	5.6	-	-	7.8
P/S	6.0	3.9	4.6	6.7	-	-	5.3
P/EBIT	-25.1	10.9	-148.1	-19.8	-	-	-22.5
P/E	-41.6	30.7	340.3	-14.1	-	-	8.3
P/CFO	35.8	13.2	20.5	148.8	-	-	28.2
Total Yield	-2.4%	5.0%	0.3%	-7.1%	-	-	-1.1%
Dividend Yield	0.0%	1.8%	0.0%	0.0%	-	-	0.0%
FCF Yield 3Y Avg	-	9.5%	3.6%	-1.0%	-	-	3.6%
D/E	0.0	0.5	0.0	0.0	-	-	0.0
Net D/E	-0.2	0.5	-0.2	-0.1	-	-	-0.2

Returns

	OS	GEN	PATH	S	VRNT	CHOW	Median
Name	OneStream	Gen Digi.	UiPath	Sentinel.	Verint S.	ChowChow.
1M Rtn	0.8%	5.1%	29.5%	0.6%	-	19.3%	5.1%
3M Rtn	-4.7%	-7.9%	70.3%	-6.5%	-	-	-5.6%
6M Rtn	-35.6%	-6.3%	39.4%	-6.3%	-	-	-6.3%
12M Rtn	-41.2%	-13.1%	20.5%	-40.8%	-	-	-27.0%
3Y Rtn	-	22.2%	39.9%	19.1%	-	-	22.2%
1M Excs Rtn	-0.5%	3.8%	28.2%	-0.7%	-	18.1%	3.8%
3M Excs Rtn	-11.0%	-13.6%	55.0%	-15.2%	-	-	-12.3%
6M Excs Rtn	-51.0%	-21.8%	23.9%	-21.8%	-	-	-21.8%
12M Excs Rtn	-51.6%	-24.4%	13.9%	-51.5%	-	-	-37.9%
3Y Excs Rtn	-	-45.8%	-16.3%	-63.4%	-	-	-45.8%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022
Filing Date	11/6/2025	2/27/2025	7/24/2024	2/27/2025
Key Financials
Total Revenue	571	489	375	279
EBITDA	-133	-316	-28	-57
Operating Income	-137	-320	-31	-59
Net Income	-83	-216	-29	-65
EPS	-0.48	-1.23	-0.18	-0.42
Growth Rates
Total Revenue Growth	24.2%	30.5%	34.2%	-
EBITDA Growth	50.6%	-1043.4%	51.2%	-
Operating Income Growth	49.6%	-947.2%	48.5%	-
Net Income Growth	54.5%	-647.3%	55.8%	-
Margins
EBITDA Margin	-23.2%	-64.5%	-7.4%	-20.3%
Operating Income Margin	-24.0%	-65.3%	-8.1%	-21.2%
Net Income Margin	-14.5%	-44.2%	-7.7%	-23.4%
Cash & Debt
Total Cash	654	544	117	101
Total Debt	18	19	20	19
Net Debt / (Cash)	-636	-526	-97	-82
Cash Flows
Net Cash from Operations	96	61	21	-33
Free Cash from Operations	95	59	19	-38
Returns to Shareholders
Dividends	0	-0	-0	-0
Share Repurchases	207	263	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023
Filing Date	11/6/2025	8/7/2025	5/8/2025	2/27/2025	11/7/2024	9/3/2024	7/24/2024	7/24/2024	11/7/2024	9/3/2024	7/24/2024
Key Financials Quarterly
Total Revenue	154	148	136	132	129	118	110	103	107	87	79
Ebitda	-16	-31	-39	-46	-254	-11	-5	1	8	-16	-21
Operating Income	-17	-32	-40	-47	-255	-12	-5	0	7	-16	-21
Net Income	-9	-18	-24	-31	-172	-8	-5	3	7	-15	-23
EPS	-0.05	-0.10	-0.14	-0.19	-1.06	-0.05	-0.03	0.02	0.04	-0.10	-0.15
Key Financials TTM
Total Revenue TTM	571	546	515	489	460	437	406	375	-	-	-
Ebitda TTM	-133	-370	-350	-316	-269	-7	-12	-28	-	-	-
Operating Income TTM	-137	-375	-354	-320	-272	-10	-14	-31	-	-	-
Net Income TTM	-83	-246	-235	-216	-182	-3	-11	-29	-	-	-
Growth Rates Quarterly
Total Revenue Growth	19.5%	25.6%	23.6%	29.1%	20.7%	35.8%	39.9%	-	-	-	-
EBITDA Growth	93.6%	-191.3%	-723.3%	-5456.9%	-3369.4%	31.1%	77.3%	-	-	-	-
Operating Income Growth	93.2%	-178.6%	-641.1%	-22891.3%	-3743.7%	28.8%	74.9%	-	-	-	-
Net Income Growth	94.9%	-134.8%	-384.3%	-1243.2%	-2642.0%	48.9%	78.5%	-	-	-	-
Margins Quarterly
EBITDA Margin	-10.6%	-21.1%	-28.5%	-35.0%	-196.8%	-9.1%	-4.3%	0.8%	7.3%	-17.9%	-26.3%
Operating Income Margin	-11.3%	-21.8%	-29.3%	-35.8%	-197.6%	-9.8%	-4.9%	0.2%	6.5%	-18.8%	-27.2%
Net Income Margin	-5.7%	-12.5%	-17.6%	-23.7%	-133.1%	-6.7%	-4.5%	2.7%	6.3%	-17.8%	-29.3%
Cash & Debt
Total Cash	654	652	594	544	495	141	418	117	-	-	-
Total Debt	18	19	18	19	20	19	19	20	0	0	0
Net Debt / (Cash)	-636	-633	-576	-526	-476	-121	-399	-97	-	-	-
Cash Flows Quarterly
FCF from Operations	5	30	36	25	2	8	26	27	-4	1	-2
Cash Flows TTM
FCF from Operations TTM	96	93	72	61	63	56	49	21	-	-	-
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	207	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-	-	-	-	-	-	-	0.9%	-	-	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	-	-	-	-	-	-	-	-39.6%	-	-	-

Price Behavior

Price Behavior

Market Price	$18.73
Market Cap ($ Bil)	3.5
First Trading Date	07/24/2024
Distance from 52W High	-41.2%
	50 Days	200 Days
DMA Price	$19.32	$27.45
DMA Trend	down	up
Distance from DMA	-3.1%	-31.8%
	3M	1YR
Volatility	63.1%	57.2%
Downside Capture	224.82	205.79
Upside Capture	145.08	127.58
Correlation (SPY)	36.7%	52.4%

OS Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	2.53	2.20	2.01	1.58	1.52	0.05
Up Beta	-0.83	0.43	1.07	1.09	1.38	-0.58
Down Beta	2.34	2.06	2.34	1.62	1.41	-0.22
Up Capture	495%	338%	189%	91%	184%	40%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	10	20	29	55	115	162
Down Capture	256%	229%	213%	214%	143%	100%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	21	33	67	127	168

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

null

Based On 5-Year Data

null

Based On 10-Year Data

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Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	5,270,887
Short Interest: % Change Since 10312025	-9.0%
Average Daily Volume	3,347,433
Days-to-Cover Short Interest	1.57
Basic Shares Quantity	186,629,000
Short % of Basic Shares	2.8%

Returns Analyses

	Title
0	With OneStream Stock Surging, Have You Considered The Downside?

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11062025	10-Q 9/30/2025
6302025	8072025	10-Q 6/30/2025
3312025	5082025	10-Q 3/31/2025
12312024	2272025	10-K 12/31/2024
9302024	11072024	10-Q 9/30/2024
6302024	9032024	10-Q 6/30/2024
12312023	7242024	424B4 12/31/2023

Industry Resources

Systems Software Resources

Software Development Times

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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OneStream (OS)

Market Price (12/5/2025): $18.75 | Market Cap: $3.5 BilSector: Information Technology | Industry: Systems Software

OneStream (OS)

Market Price (12/5/2025): $18.75Market Cap: $3.5 BilSector: Information TechnologyIndustry: Systems Software

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OS Stock

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Market Price (12/5/2025): $18.75 | Market Cap: $3.5 Bil
Sector: Information Technology | Industry: Systems Software

Market Price (12/5/2025): $18.75
Market Cap: $3.5 Bil
Sector: Information Technology
Industry: Systems Software